Finance

China: Blaming Xi for United States trade war is ‘shocking’

China: Blaming Xi for United States trade war is ‘shocking’ Larry Kudlow , President Donald Trump's top economic adviser, placed blame Wednesday for recent trade tensions between the USA and China directly at the feet of Chinese President Xi Jinping. " President Trump has the biggest backbone", Kudlow said. "I think the president is so dissatisfied with China on these so-called talks that he is keeping the pressure on - and I support that". [Full Article...]

Donald Trump: China and European Union ‘Manipulating Their Currencies’

Donald Trump: China and European Union ‘Manipulating Their Currencies’ In the meantime, currency traders may need to pay closer attention to the president's Twitter feed. "We've been ripped off by China for a long time", he added. The first shots of the trade war were fired on July 6 when a 25 per cent tariff levied on US$34 billion worth of Chinese goods took effect, which prompted Beijing to react with tit-for-tat tariffs on American goods imported to China. [Full Article...]

Trump in unusual criticism of United States central bank

Trump in unusual criticism of United States central bank Still, he was clear on his belief that the move by Jerome Powell , the chairman of the Federal Reserve, would put the U.S.at a disadvantage. US Federal Reserve Chair Jerome "Jay" Powell, who was appointed by Mr Trump earlier this year, said this week that policymakers remain committed to further, gradual increases. [Full Article...]

Microsoft's annual revenue crosses $100 billion for first time

Microsoft's annual revenue crosses $100 billion for first time LinkedIn has seen record levels of postings seeking employees due to a robust U.S. job market, according to Microsoft chief financial officer Amy Hood. As usual, investors will be keying in on the performance of the tech behemoth's cloud business. "The combination of the cloud, which is a megatrend that's going to last for years to come, and the execution, this is company that knows how to se... [Full Article...]

President Trump says he's ‘not happy' with interest rate hikes

The US-China spat is the largest and broadest of several trade fights picked by Trump . But one JPMorgan economists thinks Trump's public desire for lower interest rates could actually backfire. 'I don't like all of this work that we're putting into the economy and then I see rates going up'. Put another way: The best way for the Fed to assert its independence is to do exactly the opposite ... [Full Article...]

When it comes to trade disputes, give WTO a chance

When it comes to trade disputes, give WTO a chance But even short of this, the notion that China represents a potential partner for Europe against a protectionist USA administration is gaining traction. "China will inevitably have to take necessary countermeasures as the United States escalated the trade war", Gao said. Why is China going to the WTO? The Office of the US Trade Representative (USTR) announced on Monday 16 July that it would b... [Full Article...]

Crude oil futures rise 0.81% on firm global cues

Crude oil futures rise 0.81% on firm global cues Take, for instance, the surge in USA shale-oil production due to the innovative use of hydraulic fracturing combined with horizontal drilling, which has been a big upshot for US oil production. Saudi Arabia's oil production jumped in June by 405,400 bpd compared to May, to reach 10.420 million bpd. The report from OPEC and IEA hinted at neutral outlook for crude oil. [Full Article...]

Google Fined RM20.3 Billion By EU Over Abuse Of Android OS

Google Fined RM20.3 Billion By EU Over Abuse Of Android OS That announcement came along with a record-breaking fine of €4.34b (USD $5.05b). Margrethe Vestager said Google had used its popular mobile software to protect its position in search. For free. In spite of the ongoing billions it's cost to build the operating system into what it is today. European Union regulators announced on Wednesday it was hitting Google with a $5 billion fine for viol... [Full Article...]

Boris Johnson warns Theresa May she must scrap Brexit plans

Boris Johnson warns Theresa May she must scrap Brexit plans Mr Davies, the Conservative MP for Shipley, said that he had lost trust that the prime minister would deliver Brexit in the wake of her proposals for a compromise forced through at Chequers. After avoiding the damaging defeat, the PM now faces a potentially hard session of Prime Minister's Questions and an appearance in front of the Liaison Committee of senior MPs on Wednesday. [Full Article...]

Tame inflation hits BoE rate hike hopes

Tame inflation hits BoE rate hike hopes The latest inflation figures come just 24 hours after the ONS showed United Kingdom employment hitting its highest level ever and wages continuing to rise steadily. Investors cut the probability of an August rate rise to 73 percent from 84 percent on Tuesday. The ONS's preferred measure of inflation which includes housing costs, CPIH, also remained steady, at an annual rate of 2.3 per cent. [Full Article...]

Blue Origin successfully tests escape system in latest New Shepard launch

These latest tests were also created to push the booster to its limit, which led to Blue Origin noting the potential they could lose the booster, not least during the focused testing on the escape system, centered around a solid motor firing for two seconds to fly the capsule free of a failing booster. [Full Article...]

Oregon State University Suspends Relations With Papa John's

Oregon State University Suspends Relations With Papa John's The Wall Street Journal reported Tuesday that founder John Schnatter wrote in a letter to the board of Papa John's that the directors "asked me to step down as chairman without apparently doing any investigation". And he said senior leadership would visit key locations to hold "listening sessions" with employees to enable them to voice concerns. The email urged staffers to not respond to inqu... [Full Article...]

Theresa May braced for showdown with Brexit rebels

Theresa May braced for showdown with Brexit rebels Any vote on moving the break would take place on Wednesday. Friends have told i that Mr Johnson is still wrestling over when to go public with his fears about Brexit . But pro-European Tories have accused Mrs May of "caving in" to the party's Eurosceptic wing after the government agreed to their demands to change the wording of the Customs Bill, which is one of the key pieces of Brexit legislat... [Full Article...]

Netflix Shares Crash After New Subscriptions Fall Short of Expectations

The numbers came in just shy of those projections, with the company revealing on Monday that they added 5.15 million new customers - 4.47 million of which came from non-U.S. "We had a strong but not stellar Q2 (second quarter)", Netflix said in a letter to shareholders. "This isn't entirely surprising given rising competition in the video streaming market, where Amazon , Hulu, HBO and others ... [Full Article...]

US complains to World Trade Organisation over trade-tariff retaliation

US complains to World Trade Organisation over trade-tariff retaliation Also, Beijing's "Made in China 2025" initiative, an ambitious plan to close the Asian giant's technology gap with the West, is viewed as exploitative by many in the EU. The two sides also agreed to establish a working group on WTO reforms. Hailing the significance of the EU-China comprehensive strategic cooperation, Tusk and Juncker expressed their gratitude for China's support for European ... [Full Article...]

EU says China could open its economy if it wishes

Other governments have criticized Trump for going outside the WTO when he imposed 25 percent tariffs on $34 billion of Chinese goods. "The intellectual property theft is not to be trifled with", Cramer said, referring to the Chinese practice of forcing American companies to enter into joint ventures and share their technology in order to do business in the world's second-largest economy. [Full Article...]

Papa John Founder Offers Horrible Excuse For Why He Used N Word

Papa John Founder Offers Horrible Excuse For Why He Used N Word Additionally, the company has asked Schnatter to "cease all media appearances" and "not make any further statements to the media regarding the company, its business or employees". Schnatter also came under fire in 2012 for saying the Affordable Care Act could be "lose-lose" for Papa John's franchisees and employees. The committee said it will oversee an outside auditor's investigation into P... [Full Article...]

Amazon Prime Day 2018: Deals, Discounts, & Best Sales

Amazon Prime Day 2018: Deals, Discounts, & Best Sales Amazon Prime Day, which kicks off this Monday, July 16 , at noon ET, will attract zillions of buyers seeking Black-Friday-in-July pricing on zillions of products. Are you taking advantage of all the discounts Amazon is offering? Plus, if you make a purchase, Whole Foods will put a $10 credit on your Amazon account to use toward Prime day shopping, so it's a win-win. [Full Article...]

China does not need U.S. soybeans for state reserves

China does not need U.S. soybeans for state reserves Bunge Ltd and ADM declined to comment. That would still be 1 percent higher than consumption in the 2017/18 crop year. CNGOIC reported that the soybean planting area in the U.S. China has been avoiding USA soybeans and shifting its purchases to other countries. "Pakistan, Mexico , Bangladesh and a few others have bought, and that's kept values supported", said a US soybean exporter who asked ... [Full Article...]

How to become an Amazon Prime member and how it benefits you

How to become an Amazon Prime member and how it benefits you The red color variant of the OnePlus 6 is now finally available, while not on sale it is exclusively available on Amazon starting today. The 9am flash sale on July 17 will include a massive Rs. To start with, buyers using an SBI credit card will get an instant 10 percent discount, and the sale will last for a total of 80 hours. The biggest draw, however, will be sales on smartphones , which c... [Full Article...]


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