Tesla board forms a committee to weigh Musk’s proposal of going private

15 Aug, 2018

The panel "will be tasked with evaluating Musk's proposal , should it materialize", Reutersreports, but when and by what mechanism that proposal will be offered remains unclear, as does whether the proposal will be made public at the same time it is presented to the panel for review.

Rupee Reverses Day's Losses To Close Above 70 Per Dollar: 10 Points

15 Aug, 2018

On Monday, the rupee ended at an all-time closing low, the currency closed the session 110 paise lower at 69.93, it was the biggest single-day fall in five years. High CAD is bad for the economy as it indicates an outflow of money from the country leaving behind no surplus. "The rupee is depreciating because of external factors.

Fears of new global financial crisis: Turkey's freefall triggers huge losses

14 Aug, 2018

Riley FBR in NY. In Asia, investor focus is mainly on a series of Chinese data releases for July, due later in the day, which could give an early glimpse into the economic impact of the tariffs the United States and China imposed on each other on July 6.

Possible hijacking reported at SeaTac airport in Washington state

14 Aug, 2018

While in the air, he joked for almost 20-minutes with an air traffic control agent, but also called himself "just a broken guy" who was likely disappointing the many people who care about him. Two F-15 fighter jets took to the air from a base in Portland, Oregon, and were on the scene within minutes. Officials from Alaska Airlines and Horizon Air said they are working with authorities to ensure something like this doesn't happen again.

Turkey: Lira Continues to Plunge Despite Erdogan’s Efforts

14 Aug, 2018

The Turkish lira has lost more than 40 percent of its value against the US dollar this year. Mr Erdogan has linked Gulen's fate to that of American Christian pastor Andrew Brunson, who is on trial in Turkey on terrorism charges for allegedly supporting a group that Ankara blames for the failed coup.

Turkish president Erdogan rails against U.S. tariffs in media offensive

13 Aug, 2018

Washington, in response, sanctioned two Turkish ministers and Mr Trump last Friday announced it was doubling the tariffs on steel and aluminium imports from Turkey, saying relations with Ankara were "not good at this time ". sanctions , Erdogan responded by announcing that the assets in Turkey of the U.S. secretaries of "justice and interior" would be frozen. Trump has described Brunson's detention as a "total disgrace" and urged Erdogan to free him "immediately".

Buck-a-beer coming soon in Ford's Ontario

10 Aug, 2018

The minimum price - which was hiked from $1 to C$1.25 by the previous Liberal government in 2008 - will apply to beers that have less than 5.6% alcohol content. "I just don't think this is something our membership would ever entertain", Mr. Simmons said. Eric Portelance, who co-owned Halo Brewery in Toronto until earlier this year, said the buck-a-beer challenge is "insulting" to brewers and distorts the market by devaluing their product.

China ready for 'protracted' trade war with US

08 Aug, 2018

In a statement, the Commerce Ministry said China could add duties of 5, 10, 20 or 25 percent on 5,207 types of USA imports. China announced earlier Friday it plans to impose tariffs of up to 25 percent on $ 60 billion of USA goods, as the trade salvos between the world's two largest economies continued.

Musk says going private would free Tesla

08 Aug, 2018

Earlier today, I announced that I'm considering taking Tesla private at a price of $420/share. The stock then plunged to as low as $244.59 in April as the company struggled to meet production targets for its Model 3 sedan and Moody's Investors Service cut Tesla's credit rating deep into junk-bond territory.

USA unemployment fell to 3.9% in July

05 Aug, 2018

That said, the revisions for the two previous months - May and June - looked very good, with a combined gain of 59,000 jobs as compared to previous BLS reports. Gapen said he's optimistic that wage gains will pick up, ending the year at about a 3 percent increase. President Donald Trump's administration has imposed duties on steel and aluminum imports, provoking retaliation by the United States' trade partners, including China, Canada, Mexico and the European Union.

Iran refuses talks with United States under coercion

05 Aug, 2018

On Wednesday, U.S. officials told reporters the naval fleet of Iran's Islamic Revolutionary Guard Corps (IRGC) is planning to use 100 gunboats in the Persian Gulf to practice "swarm" tactics , an exercise that is usually reserved for the fall.

Tim Cook to Employees: Thanks for the $1 Trillion Market Cap

05 Aug, 2018

The price escalation has widened Apple's profit margins to the delight of investors, who have boosted the company's market value by about $83 billion -nearly equal to the entire market value of American Express - since the quarterly report came out late Tuesday.

China Plans Tariffs on $60 Billion of Imports to Counter Trump

04 Aug, 2018

Trade Representative Robert Lighthizer to consider raising proposed tariffs on an additional $200 billion of Chinese products from 10% to 25%. China vowed to retaliate while also urging Washington to act rationally and return to talks to resolve the dispute.

Turkey vows retaliation against United States sanctions

04 Aug, 2018

The meeting came on the sidelines of the Association of Southeast Asian Nations (ASEAN) foreign ministers' meeting. The White House this week slapped sanctions on Turkey's justice and interior ministers over the case, which has badly strained relations between the North Atlantic Treaty Organisation allies.

Ohioans get 3-day break from state sales tax for some items

03 Aug, 2018

Wisconsin is joining several other states across the country in taking part in a sales tax holiday this year. It's a great time to save money on school supplies and back-to-school clothes . That includes binders and calculators, and construction paper, poster board, glue and scissors for those school projects. The commonwealth now combines its three sales tax holidays into one, making back-to-school supplies, hurricane and winter preparedness supplies and energy-efficient appliances ...

Interest rates: Bank of England expected to increase base rate

03 Aug, 2018

In a statement after today's meeting, the RBI's monetary policy committee said that the repo rate had been hiked with the objective of achieving a medium-term target for consumer price index inflation of 4 per cent, while supporting growth.

US Announces Sanctions Against Turkey Over Pastor Arrest

02 Aug, 2018

Relations between the United States and Turkey have plummeted over Brunson, who was in custody for 21 months in a Turkish prison until he was transferred to house arrest last week. On Tuesday, the pastor's appeal to end his house arrest was rejected by a Turkish court, prompting a process of sanctions review in Washington. Since the failed coup attempt, Turkey has been unsuccessfully lobbying the U.S.to extradite Fethullah Gulen , an elderly cleric living in Pennsylvania who Turkey says ...

U.S. challenges 5 WTO members including China for retaliatory trade tariffs

01 Aug, 2018

In a USDA press release, U.S. Secretary of Agriculture Sonny Perdue stated that this aid package was meant to be a short-term solution to "protect agricultural producers while the Administration works on free, fair, and reciprocal trade deals to open more markets in the long run to help American farmers compete globally".

Pricier iPhones Lead Apple to Beat Earnings Expectations

01 Aug, 2018

But the average iPhone selling price hit $724, well above the expected $694. Apple said Tuesday that its profit had jumped more than 30 percent to $11.5 billion in the recently ended quarter, besting market expectations despite selling fewer iPhones than analysts projected.

Facebook sued after stock plunge ‘shocked’ market

01 Aug, 2018

Shareholders often sue companies in the United States after unexpected stock price declines, especially if the loss of wealth is large. Facebook's decline significantly outpaced the $91 billion that Intel lost in September of 2000, during the original dot-com bust.

Amazon's quarterly profit tops $2 billion for first time

31 Jul, 2018

But it's not the same story for Amazon . The company posted net income of $2.53 billion in the second quarter - a quarterly record for the company, and a almost 13-fold increase from net income of $197 million in the year-earlier period.

Facebook's 20%, $120B 1-day stock drop worst in USA history

28 Jul, 2018

Facebook stock plummeted almost 20 percent Thursday in the largest one-day loss in history for any publicly traded company. The drop in share price sent Mark Zuckerberg's fortune tumbling by US$16.8 billion, which could send him sliding down the Bloomberg Billionaires Index.

Steel stocks are getting whacked on optimism for US-EU trade

28 Jul, 2018

Steel's Granite City Works' Steel Coil Warehouse that other countries were able to target U.S. workers and companies and steal U.S. intellectual property. House Speaker Paul Ryan of Wisconsin said lawmakers are making the case to Trump that tariffs are "not the way to go". European Commission president Jean-Claude Juncker on Wednesday met Trump in a bid to stop the United States from extending its import tariffs on EU steel and aluminium to cars and vehicle parts.

Discount Not Discourse to Boost U.S. Soy Sales to EU

28 Jul, 2018

They also agreed to increase trade in services and agriculture, including greater United States soy bean exports to the EU. A day after the EU and the USA reached an understanding to defuse tensions over trade issues, Ross told reporters aboard Air Force One that no auto tariffs would be imposed while negotiations with the European Union are ongoing.

Facebook Gets Its Foot In The Door In China

28 Jul, 2018

Facebook's CEO Mark Zuckerberg recently reaffirmed the company's interest in pursuing business in China, despite still being blocked as a platform: "I think it's hard to have a mission of wanting to bring the whole world closer together and leave out the biggest country".

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