Finance

Iran Guards says it held Gulf drills as USA tensions rise

Iran Guards says it held Gulf drills as USA tensions rise Iran's oil exports could fall by as much as two-thirds by the end of the year because of the U.S. sanctions, putting oil markets under strain amid supply outages elsewhere in the world. The activity extended to the Strait of Hormuz, a strategic waterway for oil shipments the Revolutionary Guards have threatened to block. Later in the year, on November 4, all countries must stop importing Iranian... [Full Article...]

All-time records nearly fall on day of scorching sun across Europe

All-time records nearly fall on day of scorching sun across Europe Spain's all-time high temperature record stands at 117.1°F, or 47.3°C, set on July 13, 2017. "People with heart and lung conditions, older people and young children can all struggle in warmer weather as their bodies find it more hard to cope with higher temperatures", O'Connell wrote. [Full Article...]

Oil Prices Mixed; WTI Gains After Strong Us Growth Figures

Oil Prices Mixed; WTI Gains After Strong Us Growth Figures Crude oil prices softened ahead of the start of USA trading Tuesday on possible wiggle room in Iran and steady personal incomes in the United States. Another major event on Wednesday was Yemen's Houthi's attack on the Saudi oil tanker in the Red Sea. According to the survey, which is based on external sources and shipping data, OPEC produced 32.64 million barrels per day (Mmbpd) of crude las... [Full Article...]

Apple reaches new landmark with US$1 trillion valuation

Apple reaches new landmark with US$1 trillion valuation Whether or not Apple can retain this market cap - or close to it - in the long run remains to be seen. Stock buybacks reduce the number of shares a company has on the open market, driving up the price of the remaining shares. Even with its $1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive. And good luck arguing that Tim Cook, who has basically been ru... [Full Article...]

Trump could raise tariffs on $200 billion in Chinese goods

Trump could raise tariffs on $200 billion in Chinese goods CNBC reported investors fear that an escalating trade war between Washington and Beijing could hit global growth. " We don't have anything to announce today about a specific event, or a specific round of discussions, but communication remains open and we are trying to figure out whether the conditions present themselves for a specific engagement between the two sides ", one off the officials... [Full Article...]

China warns of tariffs on imported U.S. goods worth $60bn

China warns of tariffs on imported U.S. goods worth $60bn China vowed to retaliate while also urging Washington to act rationally and return to talks to resolve the dispute. The yuan has also declined recently, threatening to take some of the bite out of tariffs by making imports cheaper, though the central bank took measures on Friday to stop it from falling any farther. [Full Article...]

Turkey says USA sanctions unacceptable, have limited economic impact

Turkey says USA sanctions unacceptable, have limited economic impact Davutoğlu said the USA decision is a risky move and "incompatible with the most simple diplomatic courtesy and mutual respect". "Of course, it is not expected to solve the crisis and all problems in just one meeting, but we agreed on close cooperation, dialogue and working together to solve the problems and when we return to our countries, we will keep taking steps together to solve those proble... [Full Article...]

China unveils additional retaliatory tariffs on $60bn of USA goods

China unveils additional retaliatory tariffs on $60bn of USA goods A statement said: " Any unilateral threat or blackmail will only lead to intensification of conflicts and damage to the interests of all parties ". "The implementation date of the taxation measures will be subject to the actions of the U.S., and China reserves the right to continue to introduce other countermeasures", the Chinese government press release stated. [Full Article...]

Apple is the world's first trillion dollar company

Apple is the world's first trillion dollar company Shares surged after Apple reported earnings that topped forecasts and a healthy outlook on Wednesday. The peak reached on Thursday (Friday NZ Time) seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than US$1. [Full Article...]

China calls on USA to be ‘cool-headed’ in trade war

China retaliated with tariffs of its own, and the us countered with tariffs on $34 billion in additional Chinese imports with tariffs on an additional $16 billion scheduled to take effect as soon as Wednesday . The next wave of US tariffs is set to kick in as soon as Wednesday, with the possible imposition of duties on another $16 billion of Chinese imports. [Full Article...]

RBI policy move: Banks expected to raise term deposit rates gradually

RBI policy move: Banks expected to raise term deposit rates gradually Given the increase in crude prices and higher inflation expectations, Valecha sees one or two more rate hikes by the RBI this year. It may be noted that many banks including State Bank of India have selectively increased their interest rate on fixed deposits, which is likely to increase their lending rates. [Full Article...]

Apple shatters US$1 trillion valuation

Apple shatters US$1 trillion valuation Apple hit the $1 trillion mark when its shares reached $207.04 around midday in NY. The feat has of course been a race because the stock market's top 10 is now dominated by tech companies, with Amazon topping $900 billion in market cap and Google and Microsoft worth more than $800 billion. [Full Article...]

Virginia's Annual Sales Tax Holiday Weekend is August 3-5

Virginia's Annual Sales Tax Holiday Weekend is August 3-5 In April, Gov. Scott Walker used a partial veto to extend the period to five days. But sales tax will still apply to accessories like watches, jewelry, handbags, scarves, ties, headbands, and belt buckles. This year the state sales tax rate is 4.45 percent. There is a spending limit to get the tax exemption. Many hurricane and emergency preparedness products are eligible for tax-free savin... [Full Article...]

Hundreds report illnesses after eating at Ohio Chipotle

Hundreds report illnesses after eating at Ohio Chipotle The Delaware County health department received hundreds of calls complaining of symptoms attributed to eating at the restaurant. According to the website, three reports were made on July 29 and July 30, indicating that at least nine customers fell sick after eating at the Powell location. [Full Article...]

China warns of retaliation if US takes more trade steps

Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are having private conversations as they too look to reengage in negotiations. Investors in global markets appeared to have decided that China was most at risk in the event of a fully fledged trade war. [Full Article...]

Apple's ride to $1 trillion: The magic number that gets it there

Apple's ride to $1 trillion: The magic number that gets it there Amazon's market cap stands at around $877 million, while Alphabet's is $851 million and Microsoft is worth about $822 million. To put that into perspective, Boeing's market capitalization is about $204B. Companies typically do so when they consider their stock to be undervalued-or to return funding to investors. A company's market cap is calculated by multiplying the number of shares outs... [Full Article...]

Health alert issued for beef, poultry, and pork products over Cyclospora concern

Health alert issued for beef, poultry, and pork products over Cyclospora concern The products - which include beef, pork and chicken wraps - have "best by", "enjoy by", "best if sold by" or "sell by" dates ranging from July 18 through July 23, 2018, according to a statement from the U.S. FSIS said it is concerned that some products may be contaminated with cyclospora , which is a parasite that causes intestinal illness as a result of consuming contaminated food or water. [Full Article...]

Tesla expects to hit 6,000/week Model 3 production rate

Tesla expects to hit 6,000/week Model 3 production rate And yet Tesla's stock is up 5% in after-hours trades. The company ended the quarter with $2.8 billion in cash, compared with $3.5 billion in the prior quarter. The overall performance pleased investors enough to send Tesla stock up more than 11 percent in after-market trading, where it topped out above $330 per share. [Full Article...]

Trump slaps Turkish ministers with sanctions over detention of United States pastor

Trump slaps Turkish ministers with sanctions over detention of United States pastor State Department spokesperson Heather Nauert said the United States. has grown exhausted of waiting for Turkish action on the matter. Anticipation of the US sanctions had already helped to send the Turkish lira to an all-time low against the dollar on Wednesday. [Full Article...]

China trade dispute likely to escalate further, may derail global growth: Moody's

China trade dispute likely to escalate further, may derail global growth: Moody's What do Americans really think about tariffs and trade issues? Many prominent worldwide economists including President Adam Posen of the US Peterson Institute for global Economics also publicly said that today's US government constitutes the biggest threat to the current world economic order. [Full Article...]


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