Economy


International Monetary Fund raises Zim growth forecast International Monetary Fund raises Zim growth forecast
- October 11, 2018

In the latest report , Taiwan's major trade partner South Korea is projected to grow 2.8% and 2.6% for 2018 and 2019, respectively, downward revisions by 0.2 and 0.3 percentage points from previous forecasts. Growth in the 19-nation zone is forecast to slow further to 1.9 percent in 2019, unchanged from the July estimate. It also said inflation in India is on the rise, estimated at 3.6 per cent in fiscal year 2017/18 and projected at 4.7 per cent in fiscal year 2018/19, compared with 4.5 ... (more...)
Latest Updates on Hurricane Sergio, Michael, Tropical Storm Leslie Latest Updates on Hurricane Sergio, Michael, Tropical Storm Leslie
- October 09, 2018

The current forecast would bring Michael into the region as a moderate to strong tropical storm . Chief Meteorologist Brad Panovich said anywhere from Panama City to Cedar Key, Florida could see significant storm surge from Hurricane Michael . (more...)
Musk Sees Musk Sees "Victory" Tuesday, SEC Deal: Tesla Jumps
- October 02, 2018

Tesla jumped in pre-market trading after Elon Musk settled a United States lawsuit over his take-private tweet storm, reassuring investors that the billionaire will keep calling the shots at the electric-car maker he's said is on the verge of profitability. (more...)
Canada sticks to plan to stay at NAFTA talks despite Trump attack
- September 28, 2018

Trump and several of his top aides have said Canadians were refusing to rework NAFTA because they want to continue protecting their local dairy industry through a controversial management program. A recent Reuters/Ipsos/UVA Center for Politics poll showed a majority of voters in the industrial states of Michigan, Ohio, Pennsylvania and Wisconsin opposed tariffs on Canada. (more...)
Michael Kors Rumored To Purchase Versace For $2 Billion This Week Michael Kors Rumored To Purchase Versace For $2 Billion This Week
- September 27, 2018

Michael Kors already owns Jimmy Choo , is reportedly signing a deal to buy Gianni Versace SpA. The leader of the pack is every mom's favorite handbag maker, Kors. Versace declined to comment. "It was overpriced", the source said. Donatella Versace , sister of late founder Gianni Versace , has called a staff meeting for Tuesday, according to a Reuters source with links to employees at the company. (more...)
China accuses USA of China accuses USA of "trade bullyism" as both sides impose fresh tariffs
- September 25, 2018

China accused the United States of engaging in "trade bullyism" and intimidating other countries to submit to its will through measures such as tariffs, the official Xinhua news agency said Monday, hours after the two sides imposed fresh duties. (more...)
Amazon May Open 3,000 Stores in Next Three Years Amazon May Open 3,000 Stores in Next Three Years
- September 21, 2018

The cashierless shops allow customers to load up on snacks and walk out without the hassle of standing in line as the store sends a bill later.While Seattle and Chicago are already living the dream, Amazon is now considering a plan to open upwards of 3,000 cashierless stores over the course of the next few years, according to AdAge . (more...)
Bloomberg Reports Coca-Cola is Considering Cannabis Infused Beverages Bloomberg Reports Coca-Cola is Considering Cannabis Infused Beverages
- September 20, 2018

Instead of developing beverages that would give consumers that "buzz" similar to smoking marijuana, such as some alcohol industry big names tried to do, Coca-Cola and Aurora Cannabis aim to come up with some beneficial drinks to reduce inflammation, pain, and cramping. (more...)
Apple Watch, AirPods excluded from next round of tariffs says new report
- September 18, 2018

White House economic adviser Larry Kudlow has indicated that Trump could be willing to meet face-to-face with China President Xi Jinping to smooth over trade tensions at the United Nations General Assembly later this month or at the Group of 20 nation summit in Argentina in November. (more...)
Canada, US resume talks to salvage NAFTA trade pact Canada, US resume talks to salvage NAFTA trade pact
- September 08, 2018

Mexico is also taking on a leadership role in the Alliance of the Pacific, a grouping of Latin American countries linked by free markets, while Canada a year ago struck a comprehensive trade deal with the European Union. US business and labour leaders have warned Trump not to dump Canada from NAFTA. But other issues have yet to be worked out, including Canada's cultural exemption in NAFTA. (more...)
Chinese billionaire arrested for criminal sexual conduct in Minneapolis Chinese billionaire arrested for criminal sexual conduct in Minneapolis
- September 04, 2018

Elder declined to provide details about the allegations but said authorities are not overly concerned about Liu leaving the country. The Minneapolis arrest wasn't the only harsh spotlight on Liu this year. He had to shut it down in 2003 after severe acute respiratory syndrome struck China causing people to stay at home for fear of catching the deadly disease, the Hong Kong based South China Morning Post reported. (more...)
Trump Celebrates Labor Day by Attacking Labor Leader Trump Celebrates Labor Day by Attacking Labor Leader
- September 04, 2018

The Worker in America is doing better than ever before. And, while not all experts agree, he said he believes Trump would need congressional approval to end the agreement. -Mexico talks, but if the deal is not signed before he takes office he could add new demands and complicate the deal. And Congress, which has to approve any NAFTA rewrite, might refuse to endorse a deal that excludes Canada. (more...)
China offers Africa billions, 'no strings attached' China offers Africa billions, 'no strings attached'
- September 04, 2018

The financing will be provided in the form of government assistance as well as investment and financing by financial institutions and companies, Xi said in a keynote speech at the opening ceremony of the 2018 Beijing Summit of the Forum on China-Africa Cooperation. (more...)
Trump cancels pay raises for federal employees Trump cancels pay raises for federal employees
- September 01, 2018

Meanwhile, the largest union representing government workers is rejecting the move to eliminate the pay increase for fiscal 2019 and calling for Congress to follow the Senate's lead. Officials did not immediately say whether the pay freeze would also apply to White House staffers. It is a harsh indictment of President Trump's values that he is freezing workers' pay to offset his multi-billion-dollar tax cuts for millionaires and billionaires. (more...)
US, Mexico reach NAFTA deal as attention turns to Canada US, Mexico reach NAFTA deal as attention turns to Canada
- August 29, 2018

It later morphed into the US-Mexico deal's requirement of 40 to 45 per cent of a vehicle's value to be made in high wage areas paying at least $16 an hour, requiring significant automotive production in the United States. "If they want Canada to ditch [dairy] supply management, I don't see how the Liberals could sell that to Canadians in an election year", he said. "A lot of people thought we'd never get here, because we all negotiate tough", Trump said as he walked into the Oval Office ... (more...)
Fed to continue further, gradual rate hikes: Chair Fed to continue further, gradual rate hikes: Chair
- August 27, 2018

Most people who want jobs can find them. The Fed seems to be "doing as good a job as they cannot to overshoot" the tightening of monetary policy , said David Levy of Republic Wealth Advisors. The odds of two additional hikes this year increased this week as Fed officials were seen as more hawkish. Long-dated bonds are meanwhile being supported by restrained inflation and demand by foreign central banks that are continuing bond purchase programs. (more...)
Lewandowski: I warned Trump about Cohen Lewandowski: I warned Trump about Cohen
- August 27, 2018

Cohen's attorney Lanny Davis says Trump ordered his client to make hush-money payments to porn star Stormy Daniels and Playboy model Karen McDougal to keep them quiet about alleged affairs, which he argues makes the president similarly guilty of a felony. (more...)
President Trump asks SEC to study abolishing quarterly earnings reports President Trump asks SEC to study abolishing quarterly earnings reports
- August 20, 2018

He said that after meeting with business leaders he had asked the US Securities and Exchange Commission to investigate making such a change . Abolishing the rule would "allow greater flexibility & save money" for businesses, Mr. Under Trump appointee chairman Jay Clayton, the SEC has taken steps to relax rules for issuers, including allowing firms going public to file information confidentially, and is now discussing relaxing some other compliance rules. (more...)
U.S. threatens more sanctions in Turkey crisis U.S. threatens more sanctions in Turkey crisis
- August 18, 2018

ANKARA , TURKEY-A detained American pastor has become a symbol of a growing rift between Turkey and the United States , but problems in the Cold War-era alliance as well as Turkey's own financial crisis are unlikely to dissipate even if he is released and Washington eases economic penalties. (more...)
Turkey aims new tariffs at USA as court rejects pastor's appeal Turkey aims new tariffs at USA as court rejects pastor's appeal
- August 16, 2018

The Turkish officials did not provide any further information on the nature of the investments, according to AP. Doha has $20 billion worth of investments in Turkey , official figures showed last month, and Ankara is now one of the top exporters to the emirate. (more...)
Erdogan says crash of lira 'political plot' against Turkey Erdogan says crash of lira 'political plot' against Turkey
- August 13, 2018

He did not name any countries. Erdogan framed Turkey's crisis as a "national battle" against economic enemies including the United States at a rally in the Black Sea town of Ünye on Saturday. "Without Turkish cooperation, US goals in Syria, Iran, Russia, and even Europe become more hard". Financial upheaval risks further destabilising an already volatile region. (more...)
Washington receives widespread criticism for reimposing sanctions on Iran Washington receives widespread criticism for reimposing sanctions on Iran
- August 10, 2018

Moreover, Votel said there were no unsafe or unprofessional interactions between the Iranians and American warships during the exercise, continuing a roughly year-long pattern of professional interactions between the two sides. British Defense Secretary Gavin Williamson said Tuesday that the current JCPOA was the "best possible" and "achievable" deal to address the West's concerns on Iran, in sharp contrast with Trump's abhorrence of the deal. (more...)
Harley-Davidson Bombshell Includes Adventure Bike Harley-Davidson Bombshell Includes Adventure Bike
- August 01, 2018

Harley-Davidson will also open smaller storefronts in urban areas. The cult American bike maker has chose to manufacture "more accessible, small displacement" bikes in the 250-500cc range, which would be targeted at India and other Asian markets. (more...)
50 years on, McDonald's isn't messing with its Big Mac 50 years on, McDonald's isn't messing with its Big Mac
- July 31, 2018

The MacCoin, which was unveiled on Sunday by the fast food giant, will be available to customers in 14,000 participating stores in the U.S. and can be cashed in for one free Big Mac. More than 14,000 McDonalds restaurants will be taking part in the scheme to bring customers back to the fast-food chain. In 1967, Michael James "Jim" Delligatti lobbied the company to let him test the burger at his Pittsburgh-area restaurants. (more...)
Mark Zuckerberg lost £13 billion in five minutes this morning Mark Zuckerberg lost £13 billion in five minutes this morning
- July 27, 2018

The company's leaders, including its chief executive, Mark Zuckerberg , added that the trajectory was not likely to improve anytime soon, especially as Facebook spends to improve the privacy and security of users. Overall, technology giants - Facebook , Apple , Google , Amazon and others - have enjoyed nearly unprecedented growth in revenue and stock price for years. (more...)
Trump Demands Immediate Release Of US Pastor Trump Demands Immediate Release Of US Pastor
- July 27, 2018

Relations between Turkey and the United States have already been strained after a Turkish banker who helped Iran evade U.S. sanctions was convicted in the USA in January. Mr Brunson is one of 20 Americans who were charged after the coup , according to the New York Times. The United States and Turkey are both members of North Atlantic Treaty Organisation. (more...)
Tesla: asking suppliers for cash back is 'standard' negotiating strategy Tesla: asking suppliers for cash back is 'standard' negotiating strategy
- July 25, 2018

The electric carmaker reportedly asked select suppliers to return part of the money it paid them for past work to help the company reach profitability, the Wall Street Journal reports . The WSJ calls the sum "meaningful", and reports that the refunds are on payments made since 2016. It is spending about $1 billion a quarter as it ramps up manufacturing of the Model 3 sedan, a lower-priced auto that is key to Tesla's plans of becoming a major mass-market automaker. (more...)
Donald Trump accuses China, EU of currency manipulation, blasts Fed Donald Trump accuses China, EU of currency manipulation, blasts Fed
- July 23, 2018

In a Friday tweet the president laments rising USA interest rates, a day after he cast aside concerns about the Federal Reserve's independence to say he was unhappy with the central bank's recent actions. Later in the day a White House spokeswoman said the president "respects the independence of the Fed". Yields on Treasuries climbed the most since May as Trump reiterated that he's unhappy with the Federal Reserve tightening after the administration has worked so hard to grow the economy. (more...)
Tesla 'whistleblower' files tip with the SEC (TSLA) Tesla 'whistleblower' files tip with the SEC (TSLA)
- July 16, 2018

In response to this reproach Elon Musk wrote in his Twitter that Norwegians have every right to be upset with Tesla, however, the construction of service network and the launch of the mobile fix crews are delayed due to the fact that the government does not provide the appropriate permits for this activity. (more...)
Mexico's president-elect ditches security guards: 'The people will protect me' Mexico's president-elect ditches security guards: 'The people will protect me'
- July 05, 2018

Newspaper El Financiero's exit poll gave him 49 percent of the vote to 27 percent for conservative Ricardo Anaya and 18 percent for ruling-party candidate Jose Antonio Meade. The violence isn't limited to politicians, either. The United States has a midterm election beforehand, too, which could completely change the political calculation to get a revised trade deal through Congress. (more...)
Amazon seeking entrepreneurs willing to start their own delivery service networks Amazon seeking entrepreneurs willing to start their own delivery service networks
- July 01, 2018

Get together $10,000 in startup funding, apply through Amazon and the company will help you to start your own business. According to the company, successful delivery partners can make up to $300,000 in annual profit. President Donald Trump accused Amazon of giving the Postal Service a raw deal earlier this year, CNN pointed out . " Amazon's new delivery program will afford the company more "last mile" capability and control, and as a result, is credit positive". (more...)
Muharrem İnce concedes defeat to Erdoğan in Turkey elections Muharrem İnce concedes defeat to Erdoğan in Turkey elections
- June 26, 2018

Many critics say this year's military operation in Afrin, Syria, was primarily created to boost both Mr Erdogan's reputation and nationalist sentiment prior to the elections; however, in his victory speech to supporters from the ruling party's headquarters in Ankara he said that Turkey would now act more decisively against terrorist organisations. (more...)
Trump considering 20% tax on U.S. auto imports Trump considering 20% tax on U.S. auto imports
- June 23, 2018

Build them here!", he tweeted. The EU tariffs will target products including blue jeans, bourbon, and motorcycles, and are in a direct response to the exemptions being revoked from the USA tariffs. A group representing major USA and foreign vehicle makers has said it was "confident that vehicle imports do not pose a national security risk". He told automakers at a White House meeting in May that he was planning tariffs on some imported vehicles. (more...)
Trump praises Supreme Court ruling in internet sales tax case Trump praises Supreme Court ruling in internet sales tax case
- June 22, 2018

A Bicycle Retailer retailer survey earlier this year found that 40 percent of retailers who responded do some online sales. Then we have a handful of states who don't even charge sales tax at all. Justices determined that the presence rule was becoming "further removed from economic reality" every year, and that the costs of honoring sales taxes were largely disconnected from whether or not a company had a physical footprint. (more...)
Fed Raises Interest Rates for Second Time this Year Fed Raises Interest Rates for Second Time this Year
- June 14, 2018

The median forecast of members of the Fed's rate-setting Federal Open Market Committee (FOMC) puts the benchmark at 3.1 per cent at the end of 2019, up from the previous 2.9 per cent, which signals four hikes next year rather than three. (more...)

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