Business

Business Rupee falling not a worry, says government
Author: 0 Rupee falling not a worry, says government

The lira has fallen about 45 per cent against the greenback this year on worries over Turkish President Tayyip Erdogan's increasing control of the economy and a deepening diplomatic rift with the United States. The Indian currency, he said, is still better as compared to certain other currencies. "I feel that it (rupee) should stabilise between 69 and 70 because if you look at the numbers for investment which is coming into the country - investment in bonds, investment in equities - this ...

Business Investors sue Tesla's Musk over go-private tweets
Author: 0 Investors sue Tesla's Musk over go-private tweets

If shareholders approved a deal, it would remove Tesla from Wall Street scrutiny, eliminating the need to publicly disclose its earnings and - for Musk - having to explain himself to shareholders. And while the U.S. Securities and Exchange commission is reportedly looking into Musk's claims, speculation is running wild. The PIF and Tesla didn't respond to requests for comment.

Business Pilots strike at Ryanair; 400 cancellations across Europe
Author: 0 Pilots strike at Ryanair; 400 cancellations across Europe

But some people took to Twitter to complain at how Ryanair handled the debacle after their flights were canceled. Speaking at a press conference in Frankfurt the same day VC held its own, Ryanair Chief Marketing Officer Kenny Jacobs said the German union should "remove the threat of an unjustified and unnecessary strike".

Business Why Trump's Turkey Tariffs Are Worrying Investors
Author: 0 Why Trump's Turkey Tariffs Are Worrying Investors

The President had tweeted at Turkey's Islamist President Recep Tayyip Erdoğan last month to free Pastor Brunson, writing: "He has been held hostage far too long". After winning a June election with revamped powers, Erdogan tightened his control over the central bank and appointed his son-in-law Berat Albayrak to head a newly-empowered finance ministry.

Business Britain welcomes US sanctions for Russian Federation over Skripal poisoning
Author: 0 Britain welcomes US sanctions for Russian Federation over Skripal poisoning

The announcement of U.S. sanctions caused the value of the ruble to plunge early Thursday and Russian stock markets to fall. ".Such decisions taken by the American side are absolutely unfriendly and can hardly be somehow associated with the constructive - not simple but constructive - atmosphere that there was at the last meeting of the two presidents", Kremlin spokesman Dmitry Peskov said.

Business New York City votes to cap Uber, Lyft vehicle licenses
Author: 0 New York City votes to cap Uber, Lyft vehicle licenses

The package of bills passed also allows city officials to create a minimum pay rate for drivers, The New York Times reported . The one-year cap - which won't apply to wheelchair accessible vehicles or in certain underserved areas deemed not to be affected by congestion - is meant to make way for a study on longer term regulations and standards for the industry.

Business Trump going ahead with tariffs on $16B in Chinese imports
Author: 0 Trump going ahead with tariffs on $16B in Chinese imports

They appear far from a resolution. and according to US local news outlets, the USTR is reviewing the 10 percent tariffs on a further 200-billion USA dollars of Chinese imports...and is considering raising the rate to 25 percent. The US says the tariffs are to penalise China for "unfair" trade practices. "Additional trade war bickering could destroy the business models for many vehicles".

Business Snapchat's controversial redesign caused it to hemorrhage users
Author: 0 Snapchat's controversial redesign caused it to hemorrhage users

Which doesn't sound too good, especially since the company just came out with the new, smaller Spectacles 2. Yet, things are not all bad. The company for the first time offered a forecast for future revenue, indicating that it has a clearer understanding of its business potential, even after shifting strategies, cutting staff and cycling through managers.

Business Oil prices drop due to higher supply, Russian Federation
Author: 0 Oil prices drop due to higher supply, Russian Federation

Economists at Capital Economics said the sanctions would result in a downturn in Iran's economy but, as things stand, the economic impact on the rest of the Mena region shouldn't be severe. The bank said, however, that such tariffs were unlikely to derail the outlook for US energy exports. Cushing is a major trading hub for crude oil and a famous price settlement point for WTI on the New York Mercantile Exchange.

Business Tesla board confirms it will consider Musk's privatization plan
Author: 0 Tesla board confirms it will consider Musk's privatization plan

Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long term. 'Basically, I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, ' Musk wrote .

Author: 0 Trump vows to impose tariffs on more Chinese goods

The Trump administration has accused China of unfair trade practices, and President Donald Trump has long vowed to bring down the United States' trade deficit in goods with Beijing . China's exports to the USA fell by 2.5 percent to $41.5 billion month-on-month, while imports of U.S. goods plunged 1.5 percent to $13.4 billion, according to data from General Administration of Customs on Wednesday, as quoted by the media.

Business Fetus discovered by crew on plane at NYC's LaGuardia Airport, sources say
Author: 0 Fetus discovered by crew on plane at NYC's LaGuardia Airport, sources say

Monday. A dead fetus was found aboard an American Airlines flight out of Charlotte on Tuesday morning, said an American Airlines spokesperson who asked not to be identified. The Queens County District Attorney is looking into the matter. The investigation caused a ripple effect of delays to at least one other American Airlines flight.

Business ‘Facebook asks big banks to share customer details’
Author: 0 ‘Facebook asks big banks to share customer details’

However, concerns over data sharing and privacy have held up talks with at least one bank, sources told the Wall Street Journal . Facebook launched peer-to-peer payments in Messenger back in 2015 and has been adding payments options ever since, including integration with PayPal .

Business Musk says he may take Tesla private and shares roar
Author: 0 Musk says he may take Tesla private and shares roar

Shortly after, Mr Musk responded to replies to his tweet, asking if he would remain in control of the company. Tesla's shares were up 6.5pc at $363.46. On April 1 this year, Musk tweeted , "We are sad to report that Tesla has gone completely and totally bankrupt". The tweet prompted questions about how serious Musk's intentions were.

Business Pepsi's first female CEO is stepping down after 12 years
Author: 0 Pepsi's first female CEO is stepping down after 12 years

Nooyi is PepsiCo's fifth CEO in the company's 53-year history. Laguarta will take over from Nooyi on October 3 and will also join the board, the company said in a statement. "Indra has provided outstanding leadership over the past 12 years, serving as a model both within our industry and beyond for responsible corporate stewardship in the 21st century", said presiding director Ian Cook.

Business Conor McGregor to Fight Khabib Nurmagomedov at UFC 229 in October
Author: 0 Conor McGregor to Fight Khabib Nurmagomedov at UFC 229 in October

McGregor (21-3) simultaneously held the featherweight and lightweight championship belts during his meteoric UFC career, but he hasn't fought in MMA since taking the 155-pound lightweight belt from Eddie Alvarez in November 2016. "It's time to roll", Diaz said following his own two-year absence. After the highly anticipated showdown was finalized and announced on Friday, Nurmagomedov and McGregor quickly got into training camp as their fight is only eight weeks away with the card ...

Business Apple becomes first USA company to crack US$1 trillion market cap
Author: 0 Apple becomes first USA company to crack US$1 trillion market cap

Wall Street thinks Apple could go even higher. But when Apple bought NeXT in 1997, the company Jobs worked on in his absence from Apple , he returned to the company he co-founded and helped it restructure. Since then 18 different iPhones have been launched and more than 1.2bn of the devices have been sold. Cook insisted what Apple was doing was legal and in the best interest of shareholders , given the offshore money would have been subjected to a 35 percent tax rate had if it were ...

Business Florida's Back-to-School tax-free holiday begins this Friday
Author: 0 Florida's Back-to-School tax-free holiday begins this Friday

Computers up to $750 and tablets and software up to $250 are also tax free. But all three of Louisiana's neighbors have back-to-school holidays in place this year. Qualifying Energy Star or WaterSense products (must be purchased for noncommercial or personal use): $2,500 or less per item. Exempted items during tax-free weekend include shoes and clothing under $100 per item, computers under $1,000, computer hardware under $500 and school supplies under $30 per item.

Business Apple becomes 1st private company worth $1 trillion
Author: 0 Apple becomes 1st private company worth $1 trillion

The tech giant's market cap briefly hit $1 trillion dollar milestone Thursday morning before dropping slightly again. Apple just became the first American public company to cross $1 trillion in value. July 2008: Apple launches the online App Store to sell applications for the iPhone and iPod Touch. The reason for the confusion is because Apple is in the midst of a stock buyback program, meaning that some sources have listed the wrong number of outstanding shares.

Business This tech billionaire just lost US$15.9 billion in a single day
Author: 0 This tech billionaire just lost US$15.9 billion in a single day

Analysts who follow Facebook were blindsided, asking frequently on a conference call with executives for more information on exactly how the company's financial future had changed so dramatically. The results are from the first full quarter following the revelation of the Cambridge Analytica privacy scandal . The new laws were only in effect for one month of the quarter, which means the company may feel more of an impact in the current quarter.

Business Trump and European Union come to vague agreement to reduce trade tensions
Author: 0 Trump and European Union come to vague agreement to reduce trade tensions

Speaking with Juncker at his side, Trump said they had agreed in talks to "work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods". As U.S. soybean farmers have struggled against retaliatory tariffs, Juncker said the European Union "can import more soybeans from the U.S. and it will be done".

Business Trump announces an agreement with European Union on tariffs
Author: 0 Trump announces an agreement with European Union on tariffs

Germany exported almost 500,000 cars to the U.S.in 2017. Since March , the factory has churned out 90,000 of the beach towel-sized flags, an unusually large number for the normally slow season, said manager Yao Yuanyuan, who believes the looming US-China trade war is the reason.

Business Trump’s financial aid offer to farmers criticized as tax-funded ‘welfare’
Author: 0 Trump’s financial aid offer to farmers criticized as tax-funded ‘welfare’

According to the Wall Street Journal , South Dakota Senator Mike Rounds, a Republican , asked: "At what point do we start seeing things move out of the chaotic state they are in now and to where we actually see new trade agreements?" In addition to the direct impact of tariffs on American farm products, farmers have also been hurt by US tariffs on foreign steel imports .

Business When will North Korea denuclearise? Trump now says no ‘time limit’
Author: 0 When will North Korea denuclearise? Trump now says no ‘time limit’

Russian Federation had invited North Korean leader Kim Jong Un to attend an economic forum in the city of Vladivostok in September. This is the first return of remains since 2007. Overall exports from North Korea dropped 37.2 percent in 2017, marking the biggest fall since a 38.5 percent decline in 1998, the BOK said on Friday, citing data from the Korea Trade-Investment Promotion Agency.

Business Trump claims Fed rate hikes hinder USA economy
Author: 0 Trump claims Fed rate hikes hinder USA economy

Still, they break with the long-standing tradition of United States presidents withholding comments on Fed policy to preserve the central bank's independence from political pressure. Presidents have historically avoided criticizing the Fed, which is created to be independent from political interference. The President acknowledge the unusual nature of his comments but pressed on, saying he has held the same viewpoint since being a private citizen.

Business Illness forces Marchionne out of Ferrari
Author: 0 Illness forces Marchionne out of Ferrari

A statement from Ferrari added that he would not be able to return to work. FCA's board of directors met today to accelerate the CEO transition process in response to the news of Marchionne's health complications. This will occur at the next shareholder's meeting which will be "called in the coming days". Along with FCA, the companies are controlled by Italy's Agnelli family.

Business Cloud-driven Microsoft crosses $100bn revenue for first time
Author: 0 Cloud-driven Microsoft crosses $100bn revenue for first time

The phenomenal growth of Azure pushed up revenue growth for Microsoft's server and cloud division to 26 percent. Microsoft said it now runs three reporting segments: Intelligent Cloud (covering Azure , Windows Server , Visual Studio, Enterprise Services, and SQL Server ), and More Personal Computing (including hardware, Xbox , Windows as well as search and advertising), and Productivity and Business Processes (covering Exchange, Skype Office , SharePoint, and ...

Business Sanitary napkins to be exempted from GST, says Maharashtra finance minister
Author: 0 Sanitary napkins to be exempted from GST, says Maharashtra finance minister

Sanitary napkins are taxed at 12 per cent under the one-year old GST regime, which attracted serious criticism from various quarters. The interim Finance Minister also pointed out that the GST Council will not only be driven by revenue collection, but will also take into account aspects like employment generation and GDP growth while taking decisions.

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