Business


Canada responds to Trump with bruising tariffs of its own
- July 01, 2018

Prime Minister Justin Trudeau's counter-tariffs take effect today. The two leaders agreed to stay in close touch on a way forward, the statement added. USA goods and services trade with Mexico totaled an estimated $616.6 billion 2017, with a trade deficit of $64.1 billion. Canadian Foreign Minister Chrystia Freeland said the tariffs are regrettable. (more...)
Elon Musk Is Involved in a Copyright Argument Over a Farting Unicorn Elon Musk Is Involved in a Copyright Argument Over a Farting Unicorn
- July 01, 2018

Tom Edwards has been a potter for 40 years, handcrafting whimsical mugs, plates and bowls from his studio about 30 miles west of Denver. Edwards came up with this pattern back in 2010. What does Tom Edwards want? "The point is they've already used it and that's how copyright works". So far, the company has reported negative gross margins on the auto, meaning it loses money on every Model 3 it makes, even before sales, service and other expenses. (more...)
US GDP revised down to 2 percent rate in Q1
- July 01, 2018

The UK's gross domestic product grew by 0.2% in the first quarter of 2018 compared to the final quarter of 2017, according to a final estimate from the Office for National Statistics . Statisticians also revised down the growth rate for 2018 to 1.7% from an earlier figure of 1.8%, as Britain recorded the worst growth rate in the G7 group of wealthy nations. (more...)
Another motorcycle maker considers moving output overseas Another motorcycle maker considers moving output overseas
- July 01, 2018

Paul Business Journal . Harley-Davidson announced Monday that it was moving production of motorcycles sold in Europe from US factories to facilities overseas because of retaliatory tariffs. Since its announced moved, Harley-Davidson has endured harsh criticism from the president, who has said in a tweet that any shift in production by the company "will be the beginning of the end". (more...)
Coast Guard searching for cruise ship crew member reported overboard near Cuba Coast Guard searching for cruise ship crew member reported overboard near Cuba
- July 01, 2018

The large cruise ship is staffed with more than 1,500 crew members and can accommodate almost 4,000 guests. An HC-144 Ocean Sentry plane out of Miami began searching about 10 minutes later. Our thoughts and prayers are with this crew member. Learn the cruise secrets most people don't know and cruise like a boss. Have a comment? Please leave one below or join the discussion on our Facebook page . (more...)
Trump claims Saudi Arabia agreed to oil production hike, Riyadh doesn’t confirm
- July 01, 2018

According to Bloomberg , Saudi state media have confirmed a phone call between Trump and King Salman took place, but have not confirmed any agreement on production increases. It was not clear if Trump meant an extra two million a day, but analysts speaking to Bloomberg News believe the kingdom can produce more than 12 million a day - which would leave an nearly two-million barrel gap per day. (more...)
CANADA DAY: What's open? What's closed?
- July 01, 2018

Since the holiday lands on a Sunday this year, the statutory holiday carries over to Monday. GO Transit will run on the Saturday schedule on Monday. Stradbrook, Wardlaw, and Gertrude avenues will also be closed between Nassau and Scott streets. (more...)
H&M second-quarter pretax profit shrinks slightly more than expected H&M second-quarter pretax profit shrinks slightly more than expected
- July 01, 2018

Total sales for the new brands (new business) increased by approximately 14 percent in the quarter compared to the corresponding period the previous year. In addition, investments in the supply chain, tech, advanced analytics and AI continue with "promising" indications from pilot projects within personalisation, quantification, allocation and price setting, as well as in trend forecasting. (more...)
IPO fails to Xiaomi the money IPO fails to Xiaomi the money
- July 01, 2018

Interestingly, Xiaomi priced its shares at lower end of HKD 17 each. That makes the IPO the largest in the technology sector since Alibaba Group Holding Ltd raised $25 billion in NY in 2014. The company was also planning to raise funds from Chinese investors almost simultaneously with the Hong Kong IPO. It was initially expected to raise up to $10 billion, split between Hong Kong and mainland China, but last week shelved the mainland offering until after listing in Hong Kong. (more...)
US growth revised down to 2% in Q1 US growth revised down to 2% in Q1
- July 01, 2018

The Federal Reserve Bank of Atlanta's GDPNow tracking estimate for second-quarter growth was nearly 4.5 percent as of Wednesday, while the median forecast in a Bloomberg survey of economists called for a 3.4% pace. Trump has vowed to return the United States to sustained growth of three per cent or higher on an annual basis - indeed, the White House is counting on this to pay for the corporate and individual tax cuts. (more...)
Saudi Arabia not confirming Trump's 2M barrels Saudi Arabia not confirming Trump's 2M barrels
- July 01, 2018

It added there also was an understanding that oil-producing countries would need "to compensate for any potential shortage of supplies". It did not elaborate. USA officials are pressing allies in Europe, Asia and the Middle East, including Saudi Arabia , to adhere to the sanctions, which are aimed at pressuring Iran to negotiate a follow-up agreement to halt its nuclear programmes. (more...)
Net neutrality backer threatened FCC chief's children, authorities say Net neutrality backer threatened FCC chief's children, authorities say
- July 01, 2018

The individual, Markara Man , admitted to federal officials that he sent the threat last December because he was "angry" about the FCC's attempt to repeal its net neutrality rules and wanted to frighten Pai, according to court documents . (more...)
Homebase to axe 303 support centre jobs after buyout Homebase to axe 303 support centre jobs after buyout
- July 01, 2018

Industry insiders said a CVA involving between 60 and 80 stores was one of a number of options being considered by Homebase's new owner. Homebase is to cut around 300 jobs at its Milton Keynes head office, the company has confirmed. Wesfarmers had meant to spend £500m giving the Homebase chain a facelift, turning it into a British version of its successful Australian DIY chain, which is famous for low prices and sausage sizzles . (more...)
Eurozone Inflation Hits 2% In June, Exceeding ECB Target Eurozone Inflation Hits 2% In June, Exceeding ECB Target
- July 01, 2018

The core measure, which excludes volatile components such as food and energy slowed to 1 percent, while services inflation cooled to 1.3 percent. The euro barely moved on the data and bond yields were broadly unchanged from prior to the release. (more...)
Enbridge shares jump on heels of Line 3 advancement Enbridge shares jump on heels of Line 3 advancement
- July 01, 2018

The PUC placed several conditions on the pipeline's approval to get more financial and environmental assurances from Enbridge. But Enbridge's rationing of demand from oil shippers for space on Line 3 was more convincing of a need to rebuild, said Chairwoman Nancy Lange. (more...)
GST rates will fall as collections increase, evasion falls: Arun Jaitley GST rates will fall as collections increase, evasion falls: Arun Jaitley
- July 01, 2018

Though the GST Council in November, had a proposal to lower the tax rate of cement, that was dropped as the rate cuts had already left an over Rs 20,000-crore hole. "We consolidated the states and developed proactively a consensus, where earlier governments had failed". "GST not only impacts the indirect taxation, but those who have to disclose their turnover (now) for the objective of GST and necessarily to pay the direct taxes, this net significant increase in the direct tax is ... (more...)
Bitcoin Skids Below $6,000, Hits Lowest Level Since November Bitcoin Skids Below $6,000, Hits Lowest Level Since November
- July 01, 2018

All in all the chart signals are in favor of a drop further down. There exists a bigger probability that the recent increase in the price of BTC was a corrective rally from its sudden drop from $6,500 to $5,800, and due to the abrupt surge in the value of major digital assets , in the upcoming days, the value of most cryptocurrencies are likely to drop slightly, retreating from today's strong recovery. (more...)
Severn Trent urge people to use water wisely Severn Trent urge people to use water wisely
- July 01, 2018

Thames Water said demand had gone up "significantly". During the heatwave, the company doubled the amount of extra water it was putting into the system to 500m litres, though the North West is now using 2.2 billion litres a day. Southern Water, which provides water and wastewater services for Kent, Sussex, Hampshire and the Isle of Wight, also asked people to avoid washing cars and windows " until the weather begins to cool down ". (more...)
Xiaomi IPO raises $4.7 billion after pricing on low end Xiaomi IPO raises $4.7 billion after pricing on low end
- July 01, 2018

China Tower, the world's largest mobile mast operator, has won approval in Hong Kong for an IPO that could raise up to $10 billion, according to people familiar with the situation. However, a report says Hong Kong will break into the top three IPO destinations by the end of the year. Xiaomi has already had to scale back its ambitions for the offering. (more...)
John Legend: 'I Don't F*****g Care About Sarah Sanders' John Legend: 'I Don't F*****g Care About Sarah Sanders'
- July 01, 2018

Rep. Maxine Waters of California said that officials in the Trump administration should be called out in public over their family separation policy . This, in the end, is a triumph for @realDonaldTrump vision of America: "Now we're divided by red plates & blue plates!" But who are the people in restaurants who prep and cook, serve food, bus tables and clean up when guests have gone? "A shake for breakfast, a shake for lunch and then for dinner you get thrown out of a restaurant". (more...)
Still no deal on a New Jersey budget as shutdown looms Still no deal on a New Jersey budget as shutdown looms
- July 01, 2018

The deal, reached hours ahead of a midnight deadline, helped the government avoid a shutdown. The governor also assured people parks and beaches will be open Sunday. There will be no broad sales tax increase as part of the deal, though that tax will be levied on e-cigarettes and lodgings like Airbnb. In a compromise offer floated by Murphy earlier this week, the governor signaled a willingness to accept some form of a corporate-tax hike and willingness to enact the tax-amnesty program ... (more...)
China rejects US request for talks on airline website row China rejects US request for talks on airline website row
- July 01, 2018

In trade talks between a USA delegation led by Treasury Secretary Steven Mnuchin and senior Chinese officials in early May, the Trump administration officials asked Beijing not to distort trade through investment restrictions, sources familiar with the matter told Reuters at the time. (more...)
Woolies Backflips On Plastic Bag Policy After Some Customers Just Couldn't Cope Woolies Backflips On Plastic Bag Policy After Some Customers Just Couldn't Cope
- July 01, 2018

WOOLWORTHS has backflipped on its plastic bag ban, saying it will now hand out free reusable bags to frustrated shoppers. Ms Peters said Woolworths realised customers wanted some extra help to get through the transition so will give out the bags from now until July 8. (more...)
Donald Trump says Saudi king has agreed to ramp up oil production
- July 01, 2018

However, the price action on Friday suggests that buyers are still coming in and aggressively willing to chase this market higher. "He has agreed!" the president added. Trump is also pushing oil producing countries to cut crude imports from Iran. North America's oil markets have tightened significantly this week as an outage of Canada's Syncrude has locked in over 300,000 bpd of production. (more...)
NSW Woman Dies On Inbound Qantas Flight In Adelaide
- July 01, 2018

The flight's captained announced that the flight would be diverted to Adelaide an hour after the call for doctors. Passengers, crew and a doctor who was onboard the A380 fought to save her life after she fell unconscious but were unable to resuscitate her. (more...)

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