Business


Britain's economy grew by 0.3% in May driven by services
- July 10, 2018

The influential Purchasing Managers' Indices - monthly surveys of company executives - have also suggested that GDP for the second quarter of the year grew at twice the rate of the first three months. In annual terms, the economy was 1.5% bigger than in May a year ago, the ONS said. The BoE is expected to raise rates by 25 basis points to 0.75 percent on August 2, according to a Reuters poll of economists. (more...)
Oil prices at highest level in three years Oil prices at highest level in three years
- July 10, 2018

Buyers including Syria, India , China and Turkey are expected to remain customers, despite the U.S.'s desire to reduce Iran's exports to zero, Mr. Khoman added. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.6% at $74.31 a barrel. Libya's national oil production fell to 527,000 barrels per day from a high of 1.28 million bpd in February following recent oil port closures, the head of the National Oil Corporation said in a statement on Monday. (more...)
Tata Motors’ global sales up 10% in June Tata Motors’ global sales up 10% in June
- July 10, 2018

It had sold 90,966 units in June a year ago. 33% of the total cars exported from the country are JLR vehicles. Europe was also down 3.8 per cent. "This was largely offset by increases in sales in the United Kingdom, the USA and our overseas region", Jaguar Land Rover Chief Commercial Officer Felix Brautigam said. (more...)
Frozen vegetables recalled from Aussie supermarkets over listeria concerns Frozen vegetables recalled from Aussie supermarkets over listeria concerns
- July 10, 2018

The specific packets that are of risk of listeria contamination include mixed carrot, corn, broccoli, peas packets stocked under three brands: Black & Gold, Market Fare and Bell Farms. Listeria is a rare bacteria responsible for the disease listeriosis. In serious cases, the disease can be fatal for sick patients. Listeria in tainted melon killed seven people in Australia earlier this year. (more...)
Turkey's New Era: Turkish President Erdogan takes oath of office Turkey's New Era: Turkish President Erdogan takes oath of office
- July 10, 2018

Erdogan has described high interest rates as "the mother and father of all evil", and said in May he would expect to wield greater economic control after the election. After taking his oath, Erdogan visited the mausoleum of Mustafa Kemal Atatürk, the founder of modern Turkey. He will have sweeping new powers, including over the judiciary and the ability to rule by decree. (more...)
Nissan Admits To Falsifying Tests On Exhaust Emissions Nissan Admits To Falsifying Tests On Exhaust Emissions
- July 09, 2018

Nissan Motor said on Monday it had improperly measured exhaust emissions and fuel economy for 19 vehicle models sold in Japan , the second case in less than a year where misconduct has been discovered in its inspection processes. The problems were found during voluntary compliance checks following an improper vehicle inspection scandal past year. Similarly, Nissan said it had re-verified log data to confirm that all models subject to sampling tests guaranteed the Nissan catalogue ... (more...)
Erdogan assumes greater powers as Turkey's new era begins Erdogan assumes greater powers as Turkey's new era begins
- July 09, 2018

Marc Pierini, a former European Union ambassador to Turkey and visiting scholar at Carnegie Europe, said Erdogan's new powers would effectively make him a "super-executive president". The coup was followed by a crackdown on members of the bureaucracy, judiciary, armed forces, police, media and academia, with more than 130,000 people dismissed from their jobs or arrested. (more...)
Timehop admits attacker stole 21 million users' data Timehop admits attacker stole 21 million users' data
- July 09, 2018

However the keys that allow it to read and show users their social media content were compromised - so it has all keys deactivated, meaning Timehop users will have to re-authenticate to its App to continue using the service. Timehop swears blind that the tokens have been revoked and just won't work any more. Timehop engineers began to block the attack and lock down the compromised environment less than two hours after the attack began, the company says. (more...)
Woman on oxygen tank dies after her power is cut off Woman on oxygen tank dies after her power is cut off
- July 09, 2018

A hospice nurse told the 68-year-old's family Daniels would pass away "in God's time", relatives recently told New Jersey's News 12 . Washington says $500 was paid to the company two days before, and her family had notified the company of her mother's medical issues. (more...)
UK's Brexit Secretary David Davis has resigned UK's Brexit Secretary David Davis has resigned
- July 09, 2018

After many months of rumours that he would pull the plug, David Davis has actually quit as Brexit Secretary. Thomas Brooks, a professor of law and government at Durham University, told Al Jazeera that the resignation was "very bad" for Britain's embattled prime minister and "calamitous" for the country's Brexit negotiations. (more...)
Starbucks to DITCH plastic straws over environmental concerns Starbucks to DITCH plastic straws over environmental concerns
- July 09, 2018

Environmental activists have been pressuring businesses to ditch plastic straws because they can end up in the ocean and hurt marine life. It's a plastic strawless lid that will come to replace single-use plastic straws that now inundate its coffee shops. (more...)
Starbucks employee fired after mocking stuttering customer in Philadelphia Starbucks employee fired after mocking stuttering customer in Philadelphia
- July 09, 2018

Lekwijit, a University of Pennsylvania student, told Oxygen.com that he initially posted about the incident on Starbucks' Facebook page on Sunday afternoon, but it was removed within a few hours. Lekwijit also declined NBC News' requests for interview. Following the online buzz, Starbucks reached out to Sam again to say it had fired the employee involved in the situation. (more...)
Trump Tariffs Against China Take Effect Trump Tariffs Against China Take Effect
- July 09, 2018

There are already signs within the United States that companies are pausing decisions on investment and hiring and input costs flowing from the earlier increase in duties on steel, aluminium and washing machines are flowing through to higher end-prices. (more...)
Oil prices inched up in early Asian trading Oil prices inched up in early Asian trading
- July 09, 2018

At 0734 GMT, August WTI crude oil is trading $73.02, up 0.07 or +0.10% and September Brent crude oil is at $77.17, down $0.22 or -0.28%. In May, Indian refiners imported 4.7 million barrels or about nine times more than April and the most of any month based on USA government data going back to 2015. (more...)
China open for trade with Europe as clash with US ramps up China open for trade with Europe as clash with US ramps up
- July 09, 2018

Mr Li told a summit with central and eastern European leaders yesterday that China would stick to the path of opening its markets and other reforms that had fuelled its economy, providing opportunities for European Union members and aspirants in the bloc's poorer half. (more...)
Wall St opens higher on hopes of trade concessions Wall St opens higher on hopes of trade concessions
- July 09, 2018

Facebook rose to an all-time high, also boosting the Nasdaq. The market had already sold off in recent weeks ahead of Friday's expected ratcheting up of trade tensions between the US and China, which launched dueling tariffs on billions of goods. (more...)
Largest ETF Firm in Europe to Trade Cryptocurrency Largest ETF Firm in Europe to Trade Cryptocurrency
- July 09, 2018

In a first of its kind, Europe-based Flow Traders will offer bitcoin based Exchange Trading Products on its regulated stock exchange. Ironically, the Dutch Authority for Financial Markets (AFM) do not feel the same way. The company plans to hedge the trade as quickly as possible in spite of Bitcoin and Ethereum price fluctuations. According to Bloomberg , these publicly traded notes could increase the attractiveness of cryptocurrencies by making it easier and cheaper to invest in such ... (more...)
Iran says no major change in oil exports despite USA pressure Iran says no major change in oil exports despite USA pressure
- July 09, 2018

Trump ", Iranian Oil Minister Bijan Namdar Zanganeh said on state television. The oil minister also said that Iran, which is Opec's third-largest producer, has not changed its oil production and exports amid growing USA pressure. He has repeatedly urged the Organization of the Petroleum Exporting Countries (OPEC) - which includes key U.S. ally Saudi Arabia - to raise its production. (more...)
House price growth stagnates, but market crash 'highly unlikely'
- July 09, 2018

Trussle chief executive Ishann Malhi says that sluggish price rises and improving wages means that "first-time buyers will slowly see their prospects improve", although he adds that, "according to our analysis of house prices and wage growth, is three times harder than it was when England lifted the World Cup in 1966". (more...)
Former Permanent International Trade Secretary: May's Brexit Plan Former Permanent International Trade Secretary: May's Brexit Plan "Better Than No Deal".
- July 09, 2018

Well done David Davis for having the principal and guts to resign. We need to make sure this is now a game changer for Brexit'. He said: "We may be on a journey, it may not be a journey however that Theresa May is capable of taking, given her party". (more...)
Bhp Billiton Plc (BBL) Bollinger Band Near-Term Signal Hits Hold Rating Bhp Billiton Plc (BBL) Bollinger Band Near-Term Signal Hits Hold Rating
- July 09, 2018

At the moment, the stock is trading for about -5.68% less than its 52-week high. A total of 989.57 Million shares exchanged at hands and its average trading volume is standing at 1.72 Million shares. Many value investors look for stocks that are at or near their 52 week low, but this metric alone does not indicate whether a stock is under-valued. The Company kept a record of 2.66 billion was near 2.81 billion shares outstanding. (more...)
Netflix is testing a new, more expensive Netflix is testing a new, more expensive "Ultra" tier for subscribers
- July 09, 2018

Some European consumers were offered the Ultra plan at an even higher price (€19.99 or $23.39). The new tier is basically the current Premium tier with HDR video and HD audio added. This plan will allow users to experience 4K quality of videos on 4 screens simultaneously. Wall Street analysts have said that Netflix has enough pull for testing out these higher prices. (more...)
Canada trade deficit expands as imports rise, exports edge down
- July 08, 2018

Exports increased $84.5 billion or 8.8 percent. Canada also imported 13.9 percent more refined petroleum energy products, for a total of Can$1.6 billion in May. Exports of forestry products and building and packaging materials also saw a marked rise. Imports rose 1.7 percent in May, partly reversing April's 2.8 percent fall. (more...)
Caretaker minister announces reduction in petroleum prices
- July 08, 2018

The OMCs were expecting the oil prices to fall after the Opec last month made a decision to raise production by 1 million barrels per day (mbpd) with effect from July, but US sanctions on Iran has overdone the increase in Opec production, resulting in rise in crude oil prices. (more...)
US Jobs Report: Mining Adds 5000 Jobs in June US Jobs Report: Mining Adds 5000 Jobs in June
- July 08, 2018

On Friday, the world witnessed the imposition of new tariffs by the United States and China on goods worth $34bn from each of the two countries. Trump argues that the duties are necessary to protect domestic industries from what he says is unfair competition from foreign manufacturers. (more...)

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