Business


Hong Kong stocks end down ahead of US-China tariffs Hong Kong stocks end down ahead of US-China tariffs
- July 08, 2018

In total, nine out of the world's 10 worst-performing stock indexes this week were from the region, with the Hang Seng China Enterprises Index and Shanghai Composite Index sinking 4 percent or more through Thursday's close. Beijing has vowed to immediately respond with an equal amount of tariffs of its own against US autos, agricultural and other products, though it is unclear how swiftly the actions could escalate into an all-out trade war. (more...)
Montreal unemployment rate drops to lowest level since December Montreal unemployment rate drops to lowest level since December
- July 08, 2018

The latest jobs report, which also contained weaker data points, arrived less than a week before the Bank of Canada's upcoming interest-rate decision next Wednesday. At the same time, employment decreased in accommodation and food services, and in agriculture. While the central bank's latest Business Outlook Survey was largely taken prior to US tariffs on steel and aluminum being imposed-a fact that the BoC also highlighted-the resulting uncertainty did not sway the C.D. (more...)
China says it must 'counterattack' for US tariff hike China says it must 'counterattack' for US tariff hike
- July 08, 2018

The U.S. carmaker, which has faced sluggish sales in the world's largest auto market, said in a statement that "it has no current plans to increase the manufacturer's suggested retail price (MSRP) on its import line-up in China". Previous year the brand sold 54,124 vehicles in China, the world's largest auto market, up 66 percent from 2016. Because of that decision, Ford will be assuming the new additional costs for the import duties, though the majority of vehicles that are sold in China ... (more...)
US adds 213,000 jobs in June, unemployment rate jumps to 4%
- July 08, 2018

From Table B-8, there were the same hourly and weekly earnings increases across all types of work, +2.7% and +3.0%, but for construction alone, the gains were better, +3.5% hourly and +4.3% weekly. "Aside from the immediate job market impacts, the trade disputes risk raising prices for consumers hurting their purchasing power, which then reinforces the dampening impact on the job market", Hamrick added. (more...)
Carmaker Jaguar says ‘bad Brexit’ would mean it could… Carmaker Jaguar says ‘bad Brexit’ would mean it could…
- July 08, 2018

The vast majority of British businesses wanted to remain in the EU. Tata Motors-owned Jaguar Land Rover joined other major businesses in the United Kingdom in offering a stark message on the need for certainty, as it warned that a bad Brexit deal could cost the company more than £1.2 billion profit each year, putting £80 billion of further investment and jobs at risk. (more...)
Federal Reserve issues trade conflict warning Federal Reserve issues trade conflict warning
- July 08, 2018

Minutes of the Fed's March meeting also showed that officials saw trade rifts between the United States and China as risks to the economy's growth. Trump angered longtime USA allies, including Canada and Mexico, last month by implementing a set of tariffs on steel and aluminum, citing national security concerns as reasoning. (more...)
Hispanic Unemployment Falls to LOWEST LEVEL in US HISTORY — RECORD SMASHED Hispanic Unemployment Falls to LOWEST LEVEL in US HISTORY — RECORD SMASHED
- July 08, 2018

Along with the 213,000 jobs added in June, the jobs numbers for April and May were also revised to include 37,000 additional new hires across those months, according to data released Friday by the Bureau of Labor Statistics. A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they can not find full-time employment, rose to 7.8 percent last month from a 17-year low of 7.6 percent in May. (more...)
Bojangles' offers $5 coupon on National Fried Chicken Day Bojangles' offers $5 coupon on National Fried Chicken Day
- July 08, 2018

And to celebrate both its 41st birthday and National Friend Chicken Day, Bojangles is sending a $5 off coupon to those who tweet #ItsBoTime with the chicken wing emoji. KFC is owned by Louisville, Ky. -based Yum! Check out Popeyes' website to see if there is a deal for National Fried Chicken Day in your area. (more...)
Fundstrat's Tom Lee Cuts Bitcoin Price Target By 20% to Over $20000 Fundstrat's Tom Lee Cuts Bitcoin Price Target By 20% to Over $20000
- July 08, 2018

A $20,000 valuation at the end of the year would still be more than a three-fold increase for BTC. The cost of mining Bitcoin has been a level which Lee has held near and dear to his heart for months, continually reasoning that Bitcoin should find strong support at its cost to mine levels. (more...)
"The all-beef hot dog remains" — Speaking of Business
- July 08, 2018

Deb Dihel, vice president of innovation at Idaho-based Lamb Weston, on developing French fries that stay crispy for delivery services. Some of the new healthier options will include an acai fruit bowl, organic burger and a plant-based protein salad. (more...)
Hong Kong stocks end higher despite Trump tariffs Hong Kong stocks end higher despite Trump tariffs
- July 08, 2018

Shares in Shanghai and Hong Kong made little ground but Tokyo stocks followed Wall Street higher, as investors took some heart from news of trade talks between Washington and the European Union. The S&P 500 index rose 0.9 percent to 2,736.61. "The Chinese side, having vowed not to fire the first shot, is forced to stage counter-attacks to protect the core national interests and interests of its people", a Ministry of Commerce spokesperson said after the tariffs were imposed. (more...)
Pound gets a boost from Carney's 'confidence' in economy Pound gets a boost from Carney's 'confidence' in economy
- July 08, 2018

His speech triggered expectations of an interest rate hike next month, i.e., in August 2018. He said the final reading of economic growth for the first quarter, which was revised up from 0.1% to 0.2% last week, confirmed his view of the UK's trajectory. (more...)
Qantas announces trial of end-to-end facial recognition air travel system Qantas announces trial of end-to-end facial recognition air travel system
- July 08, 2018

Mobile check-in and automated border processing have also been proposed for future trials. It is an evolution of the Department of Home Affairs' automated border clearance process, and focuses on aspects beyond the federal government's border processing procedures. (more...)
CBN to businesses: Use Yuan instead of dollar for imports CBN to businesses: Use Yuan instead of dollar for imports
- July 07, 2018

The countries have either begun imposing or are due to start implementing duties on US goods after being on the receiving end of the Trump administration's decision to slap tariffs on steel and aluminum imports. "In the short term, the yuan will continue consolidating at the current level, while sharp, one-way falling might have come to an end", the trader said. (more...)
Russia hikes duties on U.S. imports, pledges more retaliation Russia hikes duties on U.S. imports, pledges more retaliation
- July 07, 2018

The extra duties of 25 to 40 percent will apply to imports of fibre optics and equipment for road construction, the oil and gas industries and metal processing and mining. "Currently our higher duties cover only part of the damage - $87.6 million". If no mutually acceptable ways of resolving the dispute are found during the consultations, Russian Federation will ask the WTO to establish an arbitration group and refer the dispute to it, the ministry statement said. (more...)
Sonos files for initial public offering Sonos files for initial public offering
- July 07, 2018

As part of its filing to go public , the audio hardware company Sonos on Friday said the success of some of its products depended on Amazon's playing nice. At the same time, Sonos said it plans to "deepen our relationships" with current partners, including Amazon, Google and Apple. Today, its products are distributed in over 50 countries with 55 percent of its revenue coming from outside the U.S. (more...)
Brisk hiring brings out jobseekers and increases unemployment rate to 4% Brisk hiring brings out jobseekers and increases unemployment rate to 4%
- July 07, 2018

Payroll processor ADP said that hiring was led by employers with more than 50 workers. The services sector again led the way with 148,000 new hires, with healthcare job growth once again the biggest increase. The ADP report is closely scrutinised as it comes ahead of Friday's all-important government jobs report, although the two reports are not always in line. (more...)
US Trade Gap Narrowed 6.6% in May US Trade Gap Narrowed 6.6% in May
- July 07, 2018

Read the full report at CNBC . On the same day that the Trump administration began imposing tariffs on $34 billion in Chinese imports and China retaliated with their own tariffs, the job gain showed that the 9-year US economic expansion - the second longest on record - remains on solid ground. (more...)
Mark Zuckerberg tops Warren Buffett to become the world’s 3rd richest person Mark Zuckerberg tops Warren Buffett to become the world’s 3rd richest person
- July 07, 2018

Amazon CEO Jeff Bezos and Microsoft cofounder Bill Gates are still ahead of Zuckerberg, with net worths of $139.6 billion and $92.3 billion, respectively. Technology assets make up about 20 percent of the more than $5 trillion in wealth tracked by the index, which is more than any other business. The ranking, which tracks the world's 500 richest people, is updated after the close of each trading day in NY. (more...)
President Trump wants to lower oil prices, but isn’t entirely sure how President Trump wants to lower oil prices, but isn’t entirely sure how
- July 07, 2018

This must be a two way street. The most recent Oil Market Report from the International Energy Agency (IEA) projected that by the end of this year, the call on OPEC is expected to be almost 1.5 million BPD more than they were forecast to produce. (more...)
Starbucks employee fired after mocking stuttering customer Starbucks employee fired after mocking stuttering customer
- July 07, 2018

The worker then proceded to spell his name as "SSSAM" on the 28 year-old student's cup of iced coffee, to the fury of his friend Tan Lekwijit . According to Tan Lekwijit , his friend Sam had visited the store at 34th and Walnut Streets on June 27 where he was mocked for his stutter. (more...)
The Impossible Burger soars to new heights with Air New Zealand The Impossible Burger soars to new heights with Air New Zealand
- July 07, 2018

The member airlines are: Adria Airways, Aegean Airlines, Air Canada, Air China, Air India, Air New Zealand , ANA, Asiana Airlines, Austrian, Avianca, Avianca Brasil, Brussels Airlines, Copa Airlines, Croatia Airlines, EGYPTAIR, Ethiopian Airlines, EVA Air, LOT Polish Airlines, Lufthansa , Scandinavian Airlines, Shenzhen Airlines, Singapore Airlines, South African Airways, SWISS, TAP Air Portugal, THAI, Turkish Airlines, and United. (more...)
Trump eyes even higher tariffs as China trade war escalates Trump eyes even higher tariffs as China trade war escalates
- July 07, 2018

Minutes after the United States put its long-threatened duties into effect just after midnight on Friday morning, a spokesperson for China's ministry of commerce said it would be matching them dollar-for-dollar. And if China did not back down, he warned that he would up the stakes, first to tariffs on $200 billion worth of Chinese goods, and then to $500 billion, which is pretty much the entire complement of Chinese exports to the US. (more...)
U.S. ambassador Grenell offers German vehicle bosses tariff solution U.S. ambassador Grenell offers German vehicle bosses tariff solution
- July 07, 2018

Handelsblatt said ambassador Richard Grenell told executives from Daimler, Volkswagen and BMW during a meeting that in exchange, Mr Trump wanted the European Union to annul duties on United States cars imported to the bloc. The World Trade Organization said Wednesday trade barriers being set by world economic powers could jeopardize the global economic recovery. The EU, which administers trade policy for Germany and the rest of the bloc, now levies a 10 percent duty on auto imports from the ... (more...)
China 'ready to fight back' as U.S. begins trade war China 'ready to fight back' as U.S. begins trade war
- July 07, 2018

In the meantime, Brazil, the world's top exporter, will likely pick up the slack, although a trade association warned on Thursday the South American country may need to import the oilseed from the United States this year to satisfy demand from local processors. (more...)

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