Economy


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...)
Bitcoin price tumbles after cryptocurrency exchange Coinrail gets hacked Bitcoin price tumbles after cryptocurrency exchange Coinrail gets hacked
- June 12, 2018

South Korea has been the third largest market for Bitcoin trading in the world after Japan and the United States and has also suffered several major exchange hacks resulting in both fear driven activity on the trading side and calls for more stringent regulation from the government. (more...)
Porsche Mission E to be called Porsche Taycan Porsche Mission E to be called Porsche Taycan
- June 11, 2018

By the end of 2019, Porsche plans to install at least 500 fast-chargers across the U.S. that will rival Tesla's Supercharger network, which consists of over 10,000 chargers worldwide. Elon Musk is well known for talking up the speed of cars like the Model S, but Porsche has voiced some skepticism about just how long the potent Tesla can keep that up on the track. (more...)
Trump Threatens To End Trade With United States' Closest Allies
- June 10, 2018

When asked about President Trump's earlier comments on trade, in which he warned his allies off imposing retaliatory measures for the tariffs, Mr Trudeau told reporters: "The president will continue to say what he says at various occasions". (more...)
Elon Musk to remain Tesla chairman after shareholder vote Elon Musk to remain Tesla chairman after shareholder vote
- June 07, 2018

The Model Y is expected to be a scaled-down Model X riding atop the Model 3's platform, complete with falcon doors and all, according to reports . The Tesla chairman and CEO also offered updates on some future products, including the long-awaited $35,000 version of the Model 3. The shareholder proposed that the company replace Musk , who has served as the chairman of the Tesla's board of directors since 2004 and its CEO since 2008, with an independent chairman. (more...)
Kudlow: Trudeau is 'overreacting' to USA tariffs Kudlow: Trudeau is 'overreacting' to USA tariffs
- June 05, 2018

The Trump administration needs all its manpower to address the current trade deficit, China's unfair trade practices, and China's future ambitions. Gardiner said there would be "no winners" if the European Union and the United States entered a full-scale trade war. (more...)
Four Sears in MI included in company's latest round of closures Four Sears in MI included in company's latest round of closures
- June 03, 2018

Sears reported a first-quarter earnings per share loss of $3.93 on $2.9 billion in revenue. This compares to $245 million reported for the first quarter of 2017, which included a gain of $492 million from the sale of the Craftsman brand. Sears did highlight positive comparable store sales at Kmart and Sears within several categories, including apparel, footwear and jewelry. Sears is closing an additional 72 stores, the embattled retailer announced Thursday. (more...)
Starbucks US outlets temporarily shutting down for anti-bias training Starbucks US outlets temporarily shutting down for anti-bias training
- June 01, 2018

The training comes after two black men were arrested at a Philadelphia store while waiting for a business associate, a situation the company has said should not have occurred. The company has settled privately with the men, and Starbucks has since announced that people can use its restrooms even if they are not buying anything. (more...)
Trump Tells Naval Academy Graduates: 'We're Respected Again' Trump Tells Naval Academy Graduates: 'We're Respected Again'
- May 26, 2018

The president promised to shake the hands of every Naval Academy graduate following his speech. The president said in a statement that it was a "great honor and pleasure" to deliver remarks to the academy's Class of 2018 today. Trump will give the commencement speech in Annapolis Friday, a day after highlighting American military preparedness as he canceled a planned summit with North Korean leader Kim Jong Un . (more...)
ACLU tells AWS: Stop selling facial recognition tools to the government ACLU tells AWS: Stop selling facial recognition tools to the government
- May 23, 2018

Amazon deleted mentions of body cams from its site after the ACLU raised the issue. There are other known clients outside of law enforcement as well, as facial recognition technology has a wide range of possible uses. Leaders of the ACLU are calling the facial recognition 'dangerous'. The ACLU says , " People should be free to walk down the street without being watched by the government". (more...)
Leahy Rips Pai On Net Neutrality, Rural Broadband Coverage Leahy Rips Pai On Net Neutrality, Rural Broadband Coverage
- May 18, 2018

Three republicans in the Senate, Susan Collins of Maine, Lisa Murkowski of Alaska, and John Kennedy of Louisiana, joined Senate democrats in their vote to save net neutrality. Reaction at the FCC followed a predictable script. Chairman Ajit Pai stood by the ending of the Obama-era rules. The Trump campaign had net neutrality on its platform through the election process and made repealing it one of the only campaign promises they have kept. (more...)
Italy's Populists Flirt With a Deal to Create a Government Italy's Populists Flirt With a Deal to Create a Government
- May 17, 2018

Talks between Mr Salvini and Mr Mattarella took place late on Monday at the president's office. Joshua Mahony, market analyst at IG, said: "The prospect of a deal between the Five-Star Movement and League party has done little to boost Italian stocks this morning, with a host of popular policies promising to shift the public finances back into trouble". (more...)
Second Harvest, mail carriers work to Stamp Out Hunger Second Harvest, mail carriers work to Stamp Out Hunger
- May 13, 2018

These donations go directly to local food pantries to provide food to people in Idaho Falls, Ammon, Rigby, Shelley and Salmon who need the help. To donate, just place a box or can of non-perishable food next to your mailbox before your letter carrier delivers mail on the second Saturday in May. (more...)
Consumer prices rebound 0.2% in April on jump in petrol Consumer prices rebound 0.2% in April on jump in petrol
- May 11, 2018

The food index was rose 0.3%. Other details of the report showed energy prices rose 1.4 percent from the previous month after 2.8 percent decline; food costs advanced 0.3 percent after a 0.1 percent gain. The central bank left interest rates unchanged last week. Shares of CenturyLink rallied, up 8.2 percent as of 2.20pm in NY, after the telecom company posted quarterly earnings that beat expectations, though sales fell short, and bolstered optimism about its acquisition of Level 3. (more...)
Eurovision 2018: SuRie reveals 'advantage' which could help United Kingdom win competition Eurovision 2018: SuRie reveals 'advantage' which could help United Kingdom win competition
- May 10, 2018

The staging sees Christabelle flanked by images of protests. Bookmakers and fan polls had predicted that Ireland would not make it through this highly competitive semi-final. Last year's winners Portugal also do not have to qualify via the semis. Israel, along with Austria, Estonia, Cyprus , Lithuania, Czech Republic , Bulgaria , Albania, Finland and Ireland, all progressed to the music competition's grand finale. (more...)
Apple so 'unbelievable' that Warren Buffett buys $75 million more shares Apple so 'unbelievable' that Warren Buffett buys $75 million more shares
- May 05, 2018

Berkshire Hathaway was buying shares in Q1 despite speculation that the iPhone X was performing poorly and Apple had dwindled down production. Billionaire investor Warren Buffett thinks Apple ( AAPL ) stock is a screaming buy and has put his money where his mouth is. (more...)
Tesla's Elon Musk defends comments during earnings call Tesla's Elon Musk defends comments during earnings call
- May 05, 2018

Tesla shares tumbled as much as 8 percent on Thursday as investors anxious about the fallout from Musk's behaviour on the earnings conference call. Bernstein analyst A.M. Another problem: Wall Street analysts from sell-side brokerage firms are notorious for being reluctant to slap "sell" ratings on stocks. "They're killing me", he said before moving on from Spak and Sacconaghi's questions. (more...)
Flipkart-Walmart deal talks in final stages Flipkart-Walmart deal talks in final stages
- May 03, 2018

As part of the proposal, Amazon is seeking a non-compete agreement from Flipkart's founders. Furthermore, Flipkart founder Sachin Bansal recently visited the United States to negotiate with Walmart , and the retail giant may return the favour by visiting India soon to close the deal. (more...)

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