Economy


Regional Pot Workers Could Face Lifetime Ban From US News Centre News Regional Pot Workers Could Face Lifetime Ban From US News Centre News
- September 17, 2018

Todd Owen, executive assistant commissioner for the Office of Field Operations told Politico that "f$3 acilitating the proliferation of the legal marijuana industry in USA states where it is deemed legal or Canada may affect an individual's admissibility to the U.S.". (more...)
Top White House Economist Says Trump's GDP Claim Was Wrong Top White House Economist Says Trump's GDP Claim Was Wrong
- September 12, 2018

Such a relationship between GDP and the unemployment rate has occurred many times, most recently in the first quarter of 2006, before the financial crisis pushed the unemployment rate high and economic growth slowed markedly. Many small-business people felt Obama was dismissive toward their efforts, particularly after his "You didn't build that" comment in July 2012. (more...)
CBS CEO Moonves resigns after sexual misconduct claims CBS CEO Moonves resigns after sexual misconduct claims
- September 11, 2018

Six additional women have come forward to accuse Moonves of harassment or assault, with the claims stretching back decades, the New Yorker reported on Sunday. Leslie Moonves, former president and chief executive officer of CBS Corporation, is at the centre of sexual misconduct allegations . Moonves acknowledged relations with three of the women but said they were consensual, adding he had never used his position to hurt the careers of women. (more...)
China Threatens Retaliation if President Trump's New $200 Billion Tariffs Go Ahead China Threatens Retaliation if President Trump's New $200 Billion Tariffs Go Ahead
- September 08, 2018

Trump initiated the trade war to punish Beijing for what it says are China's predatory tactics to try to supplant U.S. technological supremacy. The tariffs would potentially hurt U.S. The Nasdaq 100 Index capped its worst week since March as Apple slumped on its warning that the Trump administration's musing over levying virtually everything imported from China would hit a broad range of its products. (more...)
Ayanna Pressley's Surprise Upset Shows Women Of Color's Power In Democratic Politics Ayanna Pressley's Surprise Upset Shows Women Of Color's Power In Democratic Politics
- September 05, 2018

The Washington Post reported that Rep. Michael Capuano (D-MA) conceded to Boston City Councilwoman Ayanna Pressley after polls closed in the state. According to her bio, Ayanna Pressley is an advocate, a policy-maker, an activist, and survivor. But, she added, "When the challenges we are confronted with are this big, this deep, and growing, I can't and I won't wait my turn". (more...)
Amazon Hits $1 Trillion Valuation Amazon Hits $1 Trillion Valuation
- September 05, 2018

The company's market cap hit $1 trillion just a few moments ago after its share price hit $2050.50. Amazon shares hit $2,050.49 shortly before noon on Tuesday, bringing the company's value above $1 trillion before declining slightly. Apple started trading in December 1980 but its stock did not truly start to take flight for another 25 years, spurred by the iPhone, the breakthrough device that left competitors in the dust. (more...)
Energy department intervenes to keep petrol price increase down Energy department intervenes to keep petrol price increase down
- September 04, 2018

After the hike on Tuesday, the total increase in petrol prices is around Rs 2.50 per litre, while for diesel it has crossed Rs 3 per litre in last one month. There is a pressure on oil prices due to a decrease in production. The graph of petrol and diesel prices is continuing its upward movement since last week. (more...)
Lawyer: We're 'finalizing' a libel lawsuit against Elon Musk over 'pedo' tweet Lawyer: We're 'finalizing' a libel lawsuit against Elon Musk over 'pedo' tweet
- August 30, 2018

The letter, dated August 6, said the possible lawsuit would cover "false and defamatory statements " made by Musk against Unsworth. He had criticised Musk's proposal for the use of a mini-submarine in the operation, calling it a " PR stunt " and said that the prototype had "absolutely no chance of working" . (more...)
Preliminary U.S.-Mexico trade deal leaves trail of uncertainty Preliminary U.S.-Mexico trade deal leaves trail of uncertainty
- August 29, 2018

Of the new trade deal, Lighthizer told reporters, "I think it's going to set the rules for the future at the highest standards in any agreement yet negotiated by any two nations for things like intellectual property and digital trade and financial services trade and all of the things that we think of as the modernizing, cutting-edge places that our economy is going". (more...)
One suspect dead, multiple fatalities confirmed after Jacksonville mass shooting One suspect dead, multiple fatalities confirmed after Jacksonville mass shooting
- August 27, 2018

Williams said people trampled each other trying to get away. Federal Bureau of Investigation spokesperson Dave Fitz confirmed that the agency had searched Katz's father's home in Baltimore, but declined to release further details, The Associated Press reports . (more...)
Trump threatens to Trump threatens to "get involved" if Federal Bureau of Investigation doesn’t investigate Hillary Clinton
- August 27, 2018

Cohen said under oath that Trump directed him to violate campaign-finance laws just before the 2016 presidential election in order to boost his candidacy. He told Fox News in an interview aired Thursday that he knew about payments "later on". Trump conversely praised Manafort for going to trial - where the president's former campaign chief was found guilty of eight counts of financial fraud. (more...)
Trump says he thinks stock market would crash if he's impeached Trump says he thinks stock market would crash if he's impeached
- August 24, 2018

Trump says Cohen "makes a better deal when he uses me". "You know", he said, "people make up stories". When asked about the possibility of being impeached, the president dismissed what the Constitution says about the issue and said the only criteria for impeachment should be whether he's doing his job well or not. (more...)
Australian prime minister could quit Friday Australian prime minister could quit Friday
- August 24, 2018

The ministers, who supported Mr Turnbull in a leadership ballot on Tuesday against former home affairs minister Peter Dutton , said they had changed their position and now backed Mr Dutton. If a three-way vote is held, whoever comes last in the first round of voting will be eliminated, and then a second round of voting will decide who becomes the prime minister. (more...)
Putin deplores US sanctions, but lauds Trump meeting Putin deplores US sanctions, but lauds Trump meeting
- August 24, 2018

President Donald Trump as positive, but blamed Trump's administration for continuing to hit Russian Federation with sanctions. He said the Trump administration's' policy of imposing restrictions on the Kremlin is ill-informed and won't bring the results the U.S.is hoping for. (more...)
Google Employees Protest Secretive Plans for a Censored Chinese Search Engine Google Employees Protest Secretive Plans for a Censored Chinese Search Engine
- August 19, 2018

At least 1,400 Google employees signed a letter to company leaders demanding more transparency over a project the tech giant is working on that could be accepted by the Chinese government. Pichai said Google's stated mission is "to organize the world's information", Bloomberg News reported , quoting a transcript of the employee meeting. (more...)
US Threatens More Turkey Sanctions if Pastor Not Released US Threatens More Turkey Sanctions if Pastor Not Released
- August 17, 2018

Erdogan has called on Turks to exchange their dollars for lira in order to shore up the domestic currency. Turkey has responded defiantly to the US's threats by implementing retaliatory tariffs on a raft of United States imports, including passenger cars, tobacco and alcohol. (more...)
China-US to resume trade talks after tit-for-tat tariff battle China-US to resume trade talks after tit-for-tat tariff battle
- August 17, 2018

There also remains a wide gap between the two sides over Washington's demands that Beijing improve market access and intellectual property protections for USA companies, and slash a $375 billion trade deficit with China. Mexico's incoming president-elect has expressed his willingness to negotiate a more free and fair deal with the U.S. Chinese stocks also reversed losses Thursday morning after the announcement of further trade talks. (more...)
Tesla board forms a committee to weigh Musk’s proposal of going private Tesla board forms a committee to weigh Musk’s proposal of going private
- August 15, 2018

Goldman Sachs has always been a key adviser to Tesla, but the apparent involvement of Silver Lake, best known as a private-equity firm specializing in tech investments, is striking. Anything is possible from pulling something together to nothing. Last Tuesday, Musk tweeted that he was "considering taking Tesla private at $420", adding, "Funding secured". (more...)
Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low
- August 15, 2018

At 1.15 pm, the rupee was trading at 69.90 per dollar. It had ended at 68.84 to the dollar on Friday. The euro hovered near one-year lows against the dollar and the Swiss franc as the Turkish lira wobbled, on worries economic troubles in Turkey could hit European banks and spread to other emerging economies. (more...)
Emotional scenes as Monsanto ordered to pay $289m damages in cancer trial Emotional scenes as Monsanto ordered to pay $289m damages in cancer trial
- August 14, 2018

Jurors found on Friday that the company had acted with "malice" and that its weedkillers contributed "substantially" to Johnson's terminal illness. After three days of deliberations this week, the jury at the Superior Court of California in San Francisco awarded Johnson $250 million in punitive damages and about $39 million in compensatory damages. (more...)
Iran's Khamenei rejects talks with Trump Iran's Khamenei rejects talks with Trump
- August 14, 2018

Khamenei reportedly said Monday that the withdrawal from the nuclear pact "is a clear proof that American can not be trusted". In May, the United States pulled out of a 2015 deal between world powers and Tehran under which global sanctions on Iran were lifted in return for curbs on its nuclear program. (more...)
Employee steals plane from Seattle airport, crashes it shortly Employee steals plane from Seattle airport, crashes it shortly
- August 14, 2018

Earlier Alaska Airlines reported an "unauthorized take-off" of an airplane and witnesses reported a jet being chased by military planes near Sea-Tac International Airport in Washington state. Officials said Saturday that the man was a 3.5-year Horizon Airlines employee and had clearance to be among aircraft, but that to their knowledge, he wasn't a licensed pilot. (more...)
Trump authorizes doubling of steel, aluminum tariffs on Turkey Trump authorizes doubling of steel, aluminum tariffs on Turkey
- August 14, 2018

The lira tumbled about 10 percent on Friday to another record low as investors worry about Erdogan's unorthodox economic policies and US sanctions. The White House said Mr Trump had authorised them under a section of United States trade law that allows for tariffs on national security grounds. (more...)
'Turkey's partnership with U.S. 'in jeopardy' 'Turkey's partnership with U.S. 'in jeopardy'
- August 13, 2018

Erdogan blamed his country's economic downturn on the USA and other nations that he claims are waging "war" against his country. On Friday, the lira sank to a fresh record low, falling as much as 17 percent at one point, prompting calls from investors for central bank action to shore up the lira . (more...)
Premier Doug Ford announces buck-a-beer launching in Ontario this month Premier Doug Ford announces buck-a-beer launching in Ontario this month
- August 10, 2018

Going into effect on August 27, the new price floor will challenge Ontario's 260 breweries to lower prices to $1.00 for any beer with an alcohol volume below 5.6% in time for Labour Day. Lakeport, the brewery that adopted and popularized "buck-a-beer" in the past before being purchased by Labatt, also still sells for just $1.60 a can. (more...)
Tesla Inc: Elon Musk says he's considering taking car-maker private Tesla Inc: Elon Musk says he's considering taking car-maker private
- August 08, 2018

And if the information in the tweet isn't true, Musk could be looking at some stock price manipulation allegations. The email was published on Tesla's corporate blog . Should Tesla decide to go down this route, it will need to be approved by a shareholder vote. In the post , Musk said that he feels a forward-looking company such as Tesla is better off being private and avoiding the short-term thinking involved with public markets. (more...)
Trade War: Trump says tariffs are working Trade War: Trump says tariffs are working
- August 06, 2018

In response to Donald Trump's indication that he would raise tariffs on over $200 billion of Chinese imports from 10% to 25%, Beijing in return stated that it is preparing retaliatory measures for tariffs on 5,207 different USA imports to China at variable tariff rates ranging from 5% to 25%. (more...)
Global Oil Production Raises As Saudi Arabia Pumps More Global Oil Production Raises As Saudi Arabia Pumps More
- August 06, 2018

Futures fell for the third day in NY, losing as much as 1.1 per cent to hit their lowest level since June 22, but US government's data showed a surprise gain in nationwide stockpiles on Wednesday. Tensions between the US and Iran are also supporting the market, Barratt said. "A clear definition around the macros is what the market is looking for and until we get that, it is likely to be volatile in the range", said Jonathan Barratt, chief investment officer at Ayers Alliance in Sydney. (more...)
Race is on for second place after Apple's $1 trillion valuation Race is on for second place after Apple's $1 trillion valuation
- August 05, 2018

Apple flooded news headlines everywhere yesterday as its market value crossed $1 trillion for the first time after reporting handsome quarterly earnings. Apple , the world's most valuable publicly traded company, may be seriously undervalued, said longtime tech investor Eric Jackson, founder and president at EMJ Capital. (more...)
Europe swelters in record heatwave Europe swelters in record heatwave
- August 05, 2018

Sweden's Civil Contingencies Agency is warning of "a high risk" for wildfires in central and southern Sweden this weekend because of the dry and warm weather . With Europe facing a wide-ranging heatwave, some areas of Spain and Portugal are bracing for potentially record-breaking temperatures. Love Island might be over, but it looks like we're still in for a long, hot summer. (more...)
China Plans Tariffs on $60 Billion of U.S. Goods China Plans Tariffs on $60 Billion of U.S. Goods
- August 04, 2018

Beijing responded by imposing similar charges on the same amount of USA products. The White House has responded by saying Beijing's threats are weak and that the Chinese economy is in trouble. "The US side has repeatedly escalated the situation against the interests of both enterprises and consumers". The State Council outlined the plan just days after the USA said it was considering higher tariffs on $200bn of Chinese goods than initially planned. (more...)
Turkey, US agree to work together to resolve issues Turkey, US agree to work together to resolve issues
- August 04, 2018

They said his recent transfer from prison to house arrest was not enough and on Wednesday, the Treasury Department hit Turkey's Justice Minister, Abdulhamit Gul, and Interior Minister, Suleyman Soylu, with sanctions that block any assets they may have in USA jurisdictions and bar Americans from doing business with them. (more...)
Bank of England raises key rate to 0.75% in surprise unanimous vote Bank of England raises key rate to 0.75% in surprise unanimous vote
- August 03, 2018

Rohit Poddar, managing director, Poddar Housing and Development Ltd, said, "I personally believe that the home buyers should not worry as it will be hard for many banks to increase the interest rate". It is thought the Bank's latest set of forecasts in the accompanying inflation report will reinforce the case for a rise, with many economists expecting growth to have recovered to 0.4% in the second quarter after slowing to 0.2% in the previous three months. (more...)
Apple becomes first $1 trillion publicly listed USA firm Apple becomes first $1 trillion publicly listed USA firm
- August 03, 2018

Apple Inc ( AAPL .O) Chief Executive Tim Cook said on Thursday that the iPhone maker's $1 trillion market capitalization was "not the most important measure" of the company's success but was instead a result of its focus on its products, customers and company values. (more...)
White House Sanctions Turkey Officials Over Detention of US Pastor White House Sanctions Turkey Officials Over Detention of US Pastor
- August 02, 2018

State Department spokesperson Heather Nauert said the United States. has grown exhausted of waiting for Turkish action on the matter. US State Department spokeswoman Heather Nauert has also called the detention "unjust", adding, "Turkey knows our position well". (more...)
Trump follows through on farm trade aid Trump follows through on farm trade aid
- August 01, 2018

U.S. President Donald Trump and European Commission President Jean-Claude Juncker met with reporters at the White House this week to announce they had reached an agreement to work towards zero tariffs, eliminate trade barriers, stop paying subsidies for non-automotive products, and strengthen energy cooperation. (more...)
Apple in touching distance of $US1 trillion mark after profits jump Apple in touching distance of $US1 trillion mark after profits jump
- August 01, 2018

Many Americans have at least one piece of Apple tech in their household, and the same can be said for residents of European and Asian countries. Apple said the average selling price of the iPhone had risen to more than $US700 in the quarter, showing that each customer is paying more for the company's gadgets. (more...)
Facebook to spend $10M for Zuckerberg's private jet and security Facebook to spend $10M for Zuckerberg's private jet and security
- August 01, 2018

Facebook shares were down as much as 19.6 percent at $174.78 in early trading, a decline that would wipe about $124 billion off the company's value - or almost four times the entire market capitalization of Twitter Inc. Facebook's legal storm seems endless, considering it has already faced dozens of lawsuits following its mishandling of user data. Currently, its stocks are at US$174.89 down 0.78 per cent. (more...)
How to Get a Free Big Mac at McDonald’s How to Get a Free Big Mac at McDonald’s
- July 31, 2018

McDonalds has said that more than 6.2 million MacCoins will be available across U.S. restaurants from Thursday, with the offer running all the way to the end of 2018, or until the MacCoins run out. 14,000 McDonald's locations in the USA will be taking part in the proportional event. The Rubik's cube, the Blarney stone, the Leaning Tower of Pisa and the Big Mac. (more...)
China being 'vicious' on trade - US President China being 'vicious' on trade - US President
- July 30, 2018

But some of those issues seemed to be resolved during Wednesday's meeting. Appearing alongside Mr Trump at a news conference, Mr Juncker said as long as US-EU negotiations are ongoing the EU will "hold off further tariffs" on American goods. (more...)
This is Why Amazon Shares Are Soaring This Morning This is Why Amazon Shares Are Soaring This Morning
- July 30, 2018

The Amazon .com, Inc. exchanged hands with 3531307 shares compared to its average daily volume of 4.02M shares. Meanwhile, the Seattle-based company reported adjusted earnings of $5.07 per share, crushing our $2.49 per share estimate. Amazon launched Prime member savings at Whole Foods Market stores nationwide, offering Prime members 10% off hundreds of sale items and discounts on popular products. (more...)
Trump hails growth as one-offs and consumers boost economy Trump hails growth as one-offs and consumers boost economy
- July 28, 2018

The figures released on Friday by the US Department of Commerce showed the economy grew at the fastest pace since 2014 during from April to June. "We've accomplished an economic turnaround of historic proportions", Mr Trump told reporters during hastily arranged remarks on the South Lawn of the White House, where he was joined by Vice President Mike Pence and flanked by members of his economic team. (more...)
Juncker to Trump: US, EU are 'close partners, not enemies' Juncker to Trump: US, EU are 'close partners, not enemies'
- July 28, 2018

Firstly, the new Market Facilitation Program will provide payments to producers of soybeans, sorghum, corn, wheat, cotton, dairy and hogs, which the USDA says "will help farmers manage disrupted markets, deal with surplus commodities, and expand and develop new markets at home and overseas". (more...)
Focus on Trump's meeting with European Commission President Juncker - Deutsche Bank Focus on Trump's meeting with European Commission President Juncker - Deutsche Bank
- July 28, 2018

Qualcomm had said on Wednesday it was dropping the bid. At a meeting in Washington on Wednesday, Juncker and Trump agreed the United States would hold back on threats to apply tariffs on the auto sector as the two sides conduct negotiations . (more...)
Facebook plans to enter China by setting up local subsidiary Facebook plans to enter China by setting up local subsidiary
- July 28, 2018

The filing, which is no longer accessible, noted that the company is owned by Facebook Hong Kong Ltd. Known for being the headquarters of Chinese e-commerce giant Alibaba and many other tech groups, the capital of Zhejiang, Hangzhou will be the center of Facebook's new hub. (more...)
Twitter stocks dive 20% as users drop by a million Twitter stocks dive 20% as users drop by a million
- July 28, 2018

Shares in Twitter slumped 16 percent in pre-opening trades in a market jittery following a weak outlook from social network leader Facebook . A Washington Post report put the total number of suspended accounts in May and June at 70 million. (more...)
FACEBOOK FAIL: Zuckerberg Loses $16 BILLION in FIVE MINUTES as Shares PLUNGE FACEBOOK FAIL: Zuckerberg Loses $16 BILLION in FIVE MINUTES as Shares PLUNGE
- July 27, 2018

Zuckerberg's paper fortune fell by $14.5bn from $86.5bn Wednesday to $72bn on Thursday, sending him tumbling from the third-richest person on the planet to sixth. Amazon's stock is already up almost 72 per cent in the previous year and Amazon is getting closer to surpassing iPhone maker Apple as the world's most valuable company. (more...)
Iran Vows to Respond to US Threats with ‘Equal Countermeasures’ Iran Vows to Respond to US Threats with ‘Equal Countermeasures’
- July 27, 2018

Soleimani called Trump a "gambler" and said his language belongs in "nightclubs". The comments by Major-General Qassem Soleimani, who heads the Quds Force of Iran's powerful Revolutionary Guards Corps, were the latest salvo in a war of words between the two countries which has reached a new level of bellicosity. (more...)
Alphabet Earnings: What to Watch Alphabet Earnings: What to Watch
- July 25, 2018

Nowak today lifted his Alphabet price target to $1,325 from $1,250 while maintaining an Overweight rating. Google also appears to be emerging from a period of doubt surrounding the transition to mobile, where advertising revenue is harder to come by. (more...)
Agriculture Department to send $12 billion to farmers hurt by tariffs Agriculture Department to send $12 billion to farmers hurt by tariffs
- July 25, 2018

John Kennedy, R-La. "You've got to treat everybody the same". "This trade war is cutting the legs out from under farmers and White House's "plan" is to spend $ 12 billion on gold crutches". Soybean futures 0#S: , driven to a 10-year low in part by China's retaliatory tariffs, rose 1.2 percent and hit their highest in two weeks as traders bet farm aid would improve demand, reducing a current surplus supply. (more...)

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