Business

Business China Responds to Trump's New Tariffs, Targeting $60 Billion in US Exports
Author: 0 China Responds to Trump's New Tariffs, Targeting $60 Billion in US Exports

Trump lifted tariffs to 25% from 10% on $200 billion worth of Chinese imports last week. It's also worth remembering that American companies aren't importing only finished products from China . China is targeting over 5,000 products , including food, building materials, electronics, natural resources, transports, and other consumer goods. The president's allies in Congress scrambled to limit the damage to farm country.

Business Uber Introduces
Author: 0 Uber Introduces "Quiet Mode" Premium Feature

Now, riders using Uber Black-the ride hailing firm's premium service-can easily let their chauffeur know rather skip the conversation and travel in silence. In order to use Quiet Mode , users have to select an Uber Black or Uber Black SUV . " We're looking to create more differentiation between the premium products and the regular products to encourage more trips " Uber product manager Aydin Ghajar tells me.

Business Amazon Will Give Employees $10K to Start Delivery Businesses
Author: 0 Amazon Will Give Employees $10K to Start Delivery Businesses

Amazon announced a new initiative for employees that would allow them to start their own package delivery companies. An Amazon statement said the latest incentive would also include three months of wages for employees who want to start their own delivery enterprise, and that they would be assured "consistent delivery volume" from the company.

Business China hits back at USA with tariffs on $60bn of products
Author: 0 China hits back at USA with tariffs on $60bn of products

Chipmakers were among the biggest decliners. European stocks also took a dive, adding to their earlier losses. Farming equipment maker Deere drove losses in the industrial sector. The price of soybeans slid 0.8% to $8.04 a bushel. It remains China's intention to agree to a win-win trade deal as soon as possible. That could all change if a U.S.

Business Supreme Court Rules Against Apple, Allows Users to Sue Over Pricing
Author: 0 Supreme Court Rules Against Apple, Allows Users to Sue Over Pricing

Apple tried to have the case dismissed based on a legal precedent that says corporations cannot be sued by people who purchase goods or services indirectly. The App Association - again expressed disappointment Monday with the justices' ruling. Or Apple could go against its control-freak corporate culture and adopt a Google-style semi-open approach where it has an app store but people can also download apps independently through a third-party website.

Business Trump's tariff wars could wipe out a chunk of tax cut benefits
Author: 0 Trump's tariff wars could wipe out a chunk of tax cut benefits

According to the Chinese Finance Ministry, 25, 20, and 10 percent import duties for different groups of U.S. goods will come into effect on 1 June. The hike in tariffs from the Chinese finance ministry comes after US President Donald Trump followed through on his threat to raise tariffs on $200billion of Chinese goods last week.

Business Oil gyrates below $62 as trade war counters straining supplies
Author: 0 Oil gyrates below $62 as trade war counters straining supplies

Tensions in the oil-rich Gulf intensified as the USA sent an aircraft carrier strike group to the region and Iran threatened to resume uranium enrichment beyond agreed limits. stock markets. The National Iranian Oil Company (NIOC) did not immediately respond to an email from Reuters seeking comment. The United States reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran and world powers previous year.

Business Asian Markets Fall as Trump Says China
Author: 0 Asian Markets Fall as Trump Says China "Broke the Deal"

The planned US tariff increase on $200 billion worth of Chinese imports from 10 percent to 25 percent starting on Friday was filed by the Office of the US Trade Representative, and the filing appeared on Wednesday in the Federal Register. "There was a fundamental misunderstanding", he told AFP by email. Kennedy warned that the "possibilities for miscalculation on both sides is pretty high".

Business Donald Trump to impose tariffs on remaining imports from China
Author: 0 Donald Trump to impose tariffs on remaining imports from China

Trump stepped up pressure on China after raising US tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent earlier Friday, in the biggest escalation yet in Washington's tit-for-tat trade war with Beijing . The world's largest economy will expand by 2.6% this year, according to a May Bloomberg News survey of economists that also showed the second-quarter forecast fell to 2% from 2.6% and second-half estimates little changed at about 2.1%.

Business Uber IPO Sputters, Stock Already Trading Below Initial Price
Author: 0 Uber IPO Sputters, Stock Already Trading Below Initial Price

Uber's IPO came against a backdrop of turbulent financial markets, fueled by the trade dispute between the United States and China , as well as the plunging share price of its US rival Lyft Inc. Japan's SoftBank Group Corp 9984.T , for example, invested in Uber in early 2018 at $48.77 per share. CEO Dara Khosrowshahi tried to strike a positive note, telling Reuters from the trading floor of the New York Stock Exchange , "My reaction [to the share price] is if we build and build well, ...

Business GM investing $170 million to keep Oshawa, Ont. facility open
Author: 0 GM investing $170 million to keep Oshawa, Ont. facility open

The plan would help save some union jobs at GM's Oshawa car-making plant, even though the operations would be scaled down and it will no longer produce cars. "We are in a much better position than we were five months ago when the plant was closing", said Jerry Dias, Unifor National President. In addition to the shutdown in Oshawa, which has been churning out cars and trucks for GM for more than a century, Fiat Chrysler Automobiles NV is slated to cut a line at its minivan plant in Windsor, ...

Business Apple made a surprise 'Paperboy' game for billionaires Warren Buffett
Author: 0 Apple made a surprise 'Paperboy' game for billionaires Warren Buffett

The Dow is down 500 points. Munger said a trade agreement that includes some tariffs and both sides feeling somewhat disappointed would be a good thing. Buffett and Munger also offered support for Wells Fargo, in which Berkshire owns a stake of about 10 percent. The investment is a "bet on the fact that the Permian Basin is what it is cracked up to be", the 88-year-old CEO said.

Business USA trade deficit edges up to $50 billion in March
Author: 0 USA trade deficit edges up to $50 billion in March

According to Trump the duties have brought in an additional $100 billion a year paid by China and other countries, but in fact the taxes are paid by the importers, and ultimately passed on at least partially to consumers. They've increased consumer costs by $1.4 billion a month, according to the Federal Reserve Bank of New York, Princeton and Columbia University . European stock markets bounced off six-week lows, with Germany's trade-sensitive DAX index leading the charge with a 1% rise.

Business Hackers steal $40 million of Bitcoin from crypto exchange Binance
Author: 0 Hackers steal $40 million of Bitcoin from crypto exchange Binance

The company has released a statement describing how the theft included API keys, two-factor codes and other information. According to TechCrunch, he said that the attack was a very advanced effort executed by "very patient" hackers who waited until they had a number of high net worth accounts.

Business China makes statement on USA planned measures to raise tariffs
Author: 0 China makes statement on USA planned measures to raise tariffs

The United States is demanding Beijing make sweeping changes to its trade and regulatory practices, including protecting USA intellectual property from theft and forced transfers to Chinese firms, curbs on Chinese government subsidies and increased American access to China's markets.

Business US Works To Ensure Alternative Oil Supply To India
Author: 0 US Works To Ensure Alternative Oil Supply To India

The Isna and Tasnim agencies reported on Monday that the date was chosen to coincide with the one-year anniversary of U.S. President Donald Trump's announcement of the U.S. Rouhani's comments, carried live on Iranian TV, came a day after Washington acted to force Iran to stop producing low-enriched uranium and expanding its only nuclear power plant, intensifying a campaign aimed at halting its ballistic missile program and curbing its regional power.

Business China says trade envoys preparing to go to Washington
Author: 0 China says trade envoys preparing to go to Washington

The Trump administration will raise tariffs on $200 billion in Chinese goods from 10 percent to 25 percent, effective on Friday. Stocks dipped Sunday after President Trump warned about increased tariffs, but were largely recovered by Monday morning.

Business Warren Buffett: Apple earnings confirm why we invested $50 billion
Author: 0 Warren Buffett: Apple earnings confirm why we invested $50 billion

Todd Combs and Ted Weschler manage roughly $26 billion of Berkshire's investments. Profit and revenue for many smaller units are not disclosed at all. Berkshire had $15.1 billion of these gains in the first quarter. Berkshire's net income surged to $21.7 billion from a loss of $1.1 billion a year earlier as the firm's $190 billion stock portfolio accrued value.

Business Tesla to Raise $2 Billion in Debt and Stock Offerings
Author: 0 Tesla to Raise $2 Billion in Debt and Stock Offerings

Stock in Tesla jumped Thursday morning by almost 5% at the news, although the company's shares recently have traded at their lowest point in more than two years. This article is strictly for informational purposes only. "Based on our forecasts , we do not expect TSLA to turn the corner on free cash flow until after 2020, and, as such, forecast at least one sizeable capital raise before then to make ends meet, least of all to fund its ambitious growth plans", Bank of America wrote.

Business HSBC share price up 2% after Q1 profit exceeds expectations
Author: 0 HSBC share price up 2% after Q1 profit exceeds expectations

In addition, the bank set aside almost $ 900 million in the first quarter of previous year due to a judicial investigation into the sale of bad American mortgages. In 2018, the lender said it would invest up to $17bn over three years in areas including in China and technology, without affecting profitability. In the first quarter, North America posted a pretax profit of $379 million compared with a loss of $596m in the same period past year, as the bank increased retail customer numbers and ...

Business Ahead of Build, Azure adds more machine learning and blockchain
Author: 0 Ahead of Build, Azure adds more machine learning and blockchain

This will enable customers of both firms to build and scale blockchain networks in the cloud. The other main announcement for Azure this week concerns artificial intelligence . JPMorgan Chase has tapped Microsoft to help it expand its blockchain platform , aiming to make it easier for companies to develop and deploy blockchain applications, The Wall Street Journal reports .

Business Amazon shares jump on Buffett investment
Author: 0 Amazon shares jump on Buffett investment

Some were anticipating Amazon's rise before the Berkshire investment however. That was more than the $1.3 billion that Berkshire, which historically has preferred using its cash on equities or acquisitions, spent all of past year after relaxing its policy on buybacks.

Business Why We Don't Care About the
Author: 0 Why We Don't Care About the "YouTube Problem" in Google Earnings

Google shares were down 7.2 percent to US$1,202.39 in after-market trades that followed release of the earnings report. Analysts polled by FactSet expected revenue of $37.3 billion. Facebook is at about 20 per cent. Google's capital expenditure: $US4.6 billion, compared with $US7.3 billion during the same period previous year.

Business Unemployment Rate Hits Lowest Point in 49 Years
Author: 0 Unemployment Rate Hits Lowest Point in 49 Years

The second month of strong employment growth put to rest concerns about a recession and ironically undercut Trump's call for the Fed to cut interest rates. On average, nonfarm payrolls increased by a solid 180,000 per month in the first quarter. The service sector accounted for most of the gains. A likely factor is that steady job growth and solid wage increases have enlarged Americans' paychecks.

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