Business


Trump tariffs would cause vehicle prices to soar, wipe out jobs Trump tariffs would cause vehicle prices to soar, wipe out jobs
- July 20, 2018

Hundreds of workers employed by foreign automakers rallied on Capitol Hill, urging the administration to drop the plans they said could threaten their jobs. Representatives of automakers, dealerships, and specialty equipment manufacturers repeatedly told the department that tariffs will increase costs for raw materials, which will hike prices for consumers, which will reduce auto sales, which will cost manufacturing jobs. (more...)
Headline CPI rose 0.4% in Q2 - ANZ Headline CPI rose 0.4% in Q2 - ANZ
- July 20, 2018

Economists had expected quarterly CPI to rise 0.5 per cent for an annual increase of 1.6 per cent, according to the median in a poll of 13 economists surveyed by Bloomberg. The purchase of new housing lifted 3.9 per cent on the year and 1.1 per cent on the quarter. Transport group prices - which includes airfares - increased 0.2 per cent in the quarter and 2 per cent for the year. (more...)
Trump rips Fed for raising interest rates
- July 19, 2018

But the president also acknowledged he was aware of the traditions that president's typically allow the Fed to operate independently to ensure the smooth functioning of the world's largest economy. But Trump - in a tit-for-tat tariff war with the EU, China, Mexico and Canada - said he was anxious that the timing put the United States at a "disadvantage" while the European Central Bank and the Bank of Japan maintain loose monetary policy, the network reported. (more...)
China says USA blaming Xi for blocking trade deal is China says USA blaming Xi for blocking trade deal is "bogus"
- July 19, 2018

Xi's top economic adviser, Liu He, appears willing to move forward on a deal, said Kudlow. Trump has said the tariffs are an effort to protect American workers from unfair Chinese technology and trade practices, though experts have warned they could harm the US economy. (more...)
Trump efforts to split EU "in vain" — European Commission Chief
- July 19, 2018

Rep. Terri Sewell, D-Ala., flanked by John Bozzella, president of Global Automakers, left, and Sen. The bloc previously offered to open its markets wider to US imports, including cars, as part of a reciprocal but limited trade deal, but Washington rebuffed the proposal. (more...)
Employment hits record high raising expectations for August interest rate hike Employment hits record high raising expectations for August interest rate hike
- July 19, 2018

On top of this, the majority of female employment growth since 2010 has been in higher skilled occupations (74.1%) and the full-time gender pay gap has fallen to a record low of 9.1%. The claimant count rose by 7,800 people in the data period. However, wages are still growing faster than inflation, meaning Brits are seeing real wage increases. (more...)
Bradford-based supermarket chain Morrisons introduces the ‘quieter hour’ Bradford-based supermarket chain Morrisons introduces the ‘quieter hour’
- July 19, 2018

The firm found that many people who are autistic or those with autistic children can find shopping in a supermarket an anxious experience. All 493 of the chain's United Kingdom stores will introduce the new measures following a successful trial aimed at autistic customers and those who have children with autism, as well as people with other conditions that need a more calm and relaxed shopped environment. (more...)
Gaucho restaurant chain face administration: Full list of branches expected to close Gaucho restaurant chain face administration: Full list of branches expected to close
- July 19, 2018

The operator of the Argentinian-themed steak restaurants drafted in accountancy giant KPMG to help it assess the future of the Cau chain, including a company voluntary agreement (CVA), and an offer from Equistone to buy creditors' debt stakes, but was unable to reach an agreement, according to a person close to the matter. (more...)
MasterCard Wins Patent to Increase Cryptocurrency Payment Speed MasterCard Wins Patent to Increase Cryptocurrency Payment Speed
- July 19, 2018

Then, the storing, in an account database, a "plurality of account profiles, wherein each account profile includes data associated with a consumer including at least a fiat currency amount, a blockchain currency amount, an account identifier, and an address ". (more...)
Airbnb faces legal action over European Union consumer rights Airbnb faces legal action over European Union consumer rights
- July 19, 2018

Jourova said Airbnb must also clearly distinguish between offers from a private or professional host, since different consumer protection rules apply. Finally, the regulators want Airbnb to provide an easily accessible link to the Online Dispute Resolution (ODR) platform on its website and all the necessary information related to dispute resolution, pursuant to the ODR Regulation . (more...)
Dollar soars to Rs128.75 as devaluation of rupee continues Dollar soars to Rs128.75 as devaluation of rupee continues
- July 19, 2018

The rupee was devalued thrice against the dollar in the fiscal year 2018 which resulted in a decline in foreign exchange reserves. However, on Tuesday the USA dollar illustrated rise of Rs128.40. According to State Bank of Pakistan (SBP) statement, "This movement in the exchange rates reflects the demand-supply gap of the foreign exchange in the interbank market". (more...)
US Launches National Security Probe Into Uranium Imports US Launches National Security Probe Into Uranium Imports
- July 19, 2018

Canada's Cameco Corp., the top North American supplier, followed suit in November. Ken Neumann, Canadian director of the United Steelworkers, said there's no evidence to justify Canada's inclusion in the investigation. "Our country can not afford to depend on foreign sources - particularly Russian Federation, and those in its sphere of influence, and China - for the element that provides the backbone of our nuclear deterrent, powers the ships and submarines of America's nuclear Navy, and ... (more...)
Ford Warns Some Vehicles Could Roll Away Unexpectedly Ford Warns Some Vehicles Could Roll Away Unexpectedly
- July 18, 2018

The recall covers certain 2013 through 2016 Fusion sedans and some 2013 and 2014 Escape small SUVs. If this happens, the driver could shift into park but the vehicle could be in another gear. However, Ford says it has not received any reports of injuries or crashes related to the defect. Ford says it will replace the shifter cable bushing at no cost to the customer and adds that owners should use their parking brake. (more...)
Oil prices drop amid surprise jump in United States stockpiles Oil prices drop amid surprise jump in United States stockpiles
- July 18, 2018

On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 0.8% at $67.55 a barrel. The benchmarks had steadied after big declines on Monday and last week as supply disruptions in Venezuela came to the fore and as analysts had been forecasting a decline of 3.6 million barrels in USA inventories for the week through July 13. (more...)
Trump Administration Investigating Uranium Imports Under National Security Concerns
- July 18, 2018

Ross said the probe would canvass the entire USA uranium sector from mining through enrichment and defense and industrial consumption. The Commerce Department similarly launched a review centered on a trade law known as Section 232, which allows tariffs to be placed on imports in the name of national security, before imposing those tariffs. (more...)
Ryanair cancels 24 flights as 100 pilots go ahead with strike Ryanair cancels 24 flights as 100 pilots go ahead with strike
- July 18, 2018

Anyone who is traveling on a cancelled flight should have been informed via text message or email. A quarter of Ryanair's Irish-based pilots are taking industrial action over their pay and conditions. "We are cancelling flights on high frequency routes from Ireland to London and other United Kingdom province destinations where customers can transfer readily to other flights", Ryanair said in a tweeted statement", it added. (more...)
Google is building its second private subsea cable Google is building its second private subsea cable
- July 18, 2018

On Tuesday, Google announced yet another massive subsea cable project, this time a private line stretching across the Atlantic Ocean to connect a data centre in the USA directly to another in Europe. Google explains that there are several options when it comes to building subsea cables: purchase capacity from an existing cable, or one being built by someone else; create a consortium of partners and build a cable together; or build one yourself. (more...)
BlackRock is evaluating cryptocurrencies, CEO says BlackRock is evaluating cryptocurrencies, CEO says
- July 18, 2018

Rival cryptocurrencies such as Ripple , Ethereum and Litecoin also climbed at least 2%. According to a Monday report by Financial News , the United States investment giant, which has $6.3 trillion in assets under management, has created a team from different parts of the business to investigate cryptocurrencies and their underlying technology, the blockchain. (more...)
Germany's Deutsche Bank sees higher-than-expected Q2 profit Germany's Deutsche Bank sees higher-than-expected Q2 profit
- July 18, 2018

The preliminary results - nine days before its official earnings date - were published according to regulatory guidelines. So how good really was Deutsche Bank AG's second quarter? However, analysts said that it was too early to judge whether the bank was on a sustainable path... (more...)
Singapore Airlines named world's best airline in Skytrax awards Singapore Airlines named world's best airline in Skytrax awards
- July 18, 2018

After Singapore Airlines , Qatar Airways and All Nippon Airways round out the podium. For the last two years, Singapore Air has been revamping its cabins to provide bigger entertainment consoles and more space, including double-beds in its A380 first-class suites and full-flat beds for business class in regional flights, to help compete against Middle Eastern carriers. (more...)
Summer clothing sales holds back inflation Summer clothing sales holds back inflation
- July 18, 2018

The chances of a rise in interest rates in August have dipped after British inflation remained at a one-year low last month. Mike Hardie, its head of inflation, explained: "Consumers have been feeling the benefit of the summer clothing sales, and computer game prices have also fallen". (more...)
Tesla Model 3 is most profitable electric car - consultant Tesla Model 3 is most profitable electric car - consultant
- July 18, 2018

Sandy Munro, founder of Munro & Associates, came away quite impressed with the Model 3's electronics. Munro, whose firm tore down the Model 3 to better understand it, made his comments on an appearance on Monday on Autoline, an automotive-focused television show. (more...)
Qatar Airways finalizes order for five Boeing 777 freighters Qatar Airways finalizes order for five Boeing 777 freighters
- July 18, 2018

While Airbus benefiting from the current trade spat is "a concern we have", Muilenburg dismissed the notion of any sudden shifts in order or backlog patterns because the industry is long-term and Boeing has an established presence in China. (more...)
EU, Japan sign major trade deal EU, Japan sign major trade deal
- July 18, 2018

The entering into force of the agreement will bring into reality a massive free trade zone that accounts for about 30 percent of the world's gross domestic product, with a population of about 600 million. The pact - which both Japan and the European Union aim to have come into force by early next year - will abolish or reduce tariffs on industrial products and agricultural items between the two sides and sets rules on investment, which is expected to help enhance opportunities for further ... (more...)
Ex-minister backs new Brexit vote as eurosceptics pressure May Ex-minister backs new Brexit vote as eurosceptics pressure May
- July 18, 2018

Although far from lavishing praise on the United Kingdom government's new Brexit plan, it's an interesting change of emphasis from a first minister who has to date exclusively fired his rhetorical arrows towards Downing Street. While Mrs May faces a session in front of the Liaison Committee, made up of senior MPs who chair Commons select committees, a debate will take place in the main chamber on the future relationship between the United Kingdom and EU. (more...)

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