Business


Trial of 4-Day Work Week Hailed as Huge Success Trial of 4-Day Work Week Hailed as Huge Success
- July 21, 2018

Before the trial, 54 percent of Perpetual Trust employees were happy with their work-life balance, and this increased to 78 percent with the four-day working week in place. There was also the question of whether people got paid overtime, if they couldn't get through all their work in four days. "Why? This is about productivity". (more...)
McDonald's offering free french fries for remainder of 2018's Fridays McDonald's offering free french fries for remainder of 2018's Fridays
- July 21, 2018

If you love McDonald's fries, we have a salty-sweet deal you won't want to miss out on. To access the coupon, customers must first download the McDonald's mobile app. (more...)
Tesla stock downgraded amid Model 3 order cancellations Tesla stock downgraded amid Model 3 order cancellations
- July 21, 2018

Nearly a year later, we believe it has doubled and outpaced deposits. Customers have to put down a refundable $1,000 deposit to reserve a Model 3, then pay another $2,500 to choose their specific version. The full credit is only available while a manufacturer maintains sales below 200,000 - which means Tesla hit that sales threshold this month. But failing to deliver at the promised rate of 5,000 units per month, the Model 3 backlog fell back and was believed to have hovered since June 30, ... (more...)
British Airways apologise for London Heathrow Airport chaos British Airways apologise for London Heathrow Airport chaos
- July 21, 2018

British Airways has blamed a supplier-side system issue for the cancellation of dozens of flights yesterday, with knock-on disruption continuing this morning. "Everyone's just sitting here". It is understood that the air traffic control tower has been evacuated, flights are being diverted and planes preparing to take off have been grounded. (more...)
After year-long protest, sanitary napkins exempted from GST After year-long protest, sanitary napkins exempted from GST
- July 21, 2018

Also, rakhis, sal leaves, the raw materials used to make regular brooms have also been fully exempted from being charged under GST . ► Rakhis exempted from GST, tax on ethanol cut to 5%. The council also approved the proposal to allow quarterly return filing for taxpayers with a turnover of upto Rs 5 crore, a move that will benefit almost 93 percent of tax assessees as they would now be required to file returns only once in three months. (more...)
Chinese yuan wilts again, cushioning the blow of Trump tariffs
- July 21, 2018

TRUMP TALK: Trump told the TV channel CNBC he was ready to exchange tariffs with China until all of China's exports to the US - worth over $500 billion a year - are hit. For the Trump administration, a key concern is that China is hoping for Washington to relax its stance after the midterm elections in November, when the Democrats may be able to wrestle control of Congress or the Senate from the Republican Party. (more...)
Boeing, Airbus jet sales soar as Farnborough Airshow winds down Boeing, Airbus jet sales soar as Farnborough Airshow winds down
- July 21, 2018

The first Boeing 787s are expected to arrive in 2021, the companies said in March. The commitments were for 93 aircraft in total, worth nearly USD$11 billion at list prices. Of these aircraft, 80 are the recently launched 737 MAX 10 - the largest version of Boeing's best-selling 737 range - and 20 are the benchmark 737 MAX 8 model, Reuters reported. (more...)
More than 50,000 jobs were created in Australia in June | Leadership More than 50,000 jobs were created in Australia in June | Leadership
- July 21, 2018

No such inquiry has ever eventuated. However, unemployment for youth dropped by 11.3% last month, the lowest rate in the country for six years, since April 2012. Economists and policymakers have been sweating on the data, hoping continued record job creation eventually kicks stagnant wages into gear. If this turns out to be correct, then the central bank will have two options: continue to hold the interest rate at 1.5% or slash it further. (more...)
Pompeo, Haley step up pressure to support Trump's talks on North Korea
- July 21, 2018

Pompeo said in the first five months of this year, there were at least 89 ship-to-ship transfers of oil - an evasive practice where sanctioned products are exchanged in worldwide waters by ships that often hide or obscure their identity. We didn't block anything - we put it on hold. China's U.N. Ambassador Ma Zhaoxu said China was committed to denuclearization of the Korean peninsula and to the promotion of dialogue and negotiations. (more...)
Apple Under Threat As Amazon.com’s Stock Market Value Hits $900bn Apple Under Threat As Amazon.com’s Stock Market Value Hits $900bn
- July 21, 2018

Small and medium-sized businesses sold products worth more than $1 billion during the Prime Day. On the other hand, Apple is now valued at $940 billion. But Amazon is rapidly closing in on it. Apple has seen a surge itself over the course of 2018, with the firm's shares picking up by 12 per cent, bringing its stock market value to $935 billion (£719 billion). (more...)
Theresa May's Brexit exposes European Union to fraud risk, claims Michel Barnier
- July 21, 2018

The paper also alerts pharmaceutical companies to the fact that the testing of European medicines could no longer to be carried out in the United Kingdom in the case of a no-deal Brexit and it informs that the United Kingdom would have to be removed from EU databases. (more...)
Trump Slams Interest Rate Hikes, Ignoring Hands-Off Tradition Toward Fed Trump Slams Interest Rate Hikes, Ignoring Hands-Off Tradition Toward Fed
- July 20, 2018

CNBC said, "The Fed's independence from political interference has been a hallmark of its existence, so Trump's remarks have little precedent". Trump told CNBC he's anxious the Fed's policies will cancel out his efforts to boost the economy. (more...)
German Tesla Model S owners told to repay $4,650 electric auto subsidy German Tesla Model S owners told to repay $4,650 electric auto subsidy
- July 20, 2018

According to German law, subsidies for the purchase of electric cars rely in the case that the machine is not more than 60 thousand euros. Another 250 Tesla owners that bought the Model S won't receive the payment, the office said. Specifically, the final Tesla Model 3 teardown report by Munro & Associates has revealed a gross margin of more than 30 percent for the vehicle, on the lines of the projections voiced repeatedly by Tesla Motors CEO Elon Musk. (more...)
Apple, Fitbit and Sonos could feel the sting of Trump tariffs Apple, Fitbit and Sonos could feel the sting of Trump tariffs
- July 20, 2018

The rulings show that devices like these are considered data transmission machines in the list of U.S. tariff codes, Reuters reports , and may be subject to a 10 percent tariff that could be passed onto consumers. The toll from tariffs on the gadget world's smaller product lines could be significant. The three companies sell billions of dollars worth of products each year. (more...)
Samsung breathes down Xiaomi's neck in smartphone race for April-June: Canalys Samsung breathes down Xiaomi's neck in smartphone race for April-June: Canalys
- July 20, 2018

Overall shipments grew by 22 per cent, to just under 33 million units. Another Chinese player Vivo took the third place while Oppo came fourth, with shipments of 3.6 million and 3.1 million, respectively. Chinese handset maker Xiaomi and Korea's Samsung shipped about 10 million units each in the April-June 2018 quarter, and cumulatively accounted for 60 per cent share of India's smartphone market, research firm Canalys today said. (more...)
Trump claims Fed rate hikes hinder U.S. economy
- July 20, 2018

Last month, the White House slapped tariffs on $34 billion of Chinese products, which China met with retaliatory duties on U.S. goods. There's little evidence the Fed's tightening is constricting the second-longest USA economic expansion on record: The unemployment rate under Trump has fallen to 4 per cent, from 4.8 per cent the month he was sworn in, and some economists predict gross domestic product last quarter expanded by more than 4 per cent - about double the pace in the first ... (more...)
Cloud, PC Trends Positive — Microsoft Earnings Preview Cloud, PC Trends Positive — Microsoft Earnings Preview
- July 20, 2018

Notably, this is Microsoft's first earnings report since announcing its intent to acquire code-sharing startup GitHub for $7.5 billion. Sales at Azure , Microsoft's cloud business, grew by 89 per cent in the three months to June compared with the same period in 2017. (more...)
Donald Trump: China and European Union ‘Manipulating Their Currencies’
- July 20, 2018

He added: " I'm ready to go to 500 ". Trump said in an interview with CNBC that the U.S.is "down a tremendous amount" in terms of trade with China saying that China "can't match us because otherwise we're always going to be behind the 8-ball". (more...)
European Union urges members to be prepared for possible failure of Brexit talks European Union urges members to be prepared for possible failure of Brexit talks
- July 20, 2018

That could mean, for example, companies seeking authorisations in another EU-27 member state they have originally secured from the United Kingdom, or for professionals to request the recognition of United Kingdom qualifications elsewhere. Getting an outline on those is vital to solving the biggest obstacle to the urgent withdrawal treaty - how to avoid customs and other friction on the new EU-UK land border in Ireland. (more...)
We owe this to people: PM Modi urges constructive, disruption-free debate We owe this to people: PM Modi urges constructive, disruption-free debate
- July 20, 2018

PM Modi also expressed confidence in the Members of Parliament saying that he was certain that they will rise to the occasion and ensure a constructive, comprehensive and disruption-free debate. Congress, the main opposition party, has been allocated 38 minutes to present its views on the motion. Meanwhile, taking a dig at Congress president Rahul Gandhi, BJP general secretary Ram Madhav tweeted, "Congress would have 38 minutes for an quake in the House". (more...)
Trump says 'not thrilled' about interest rate hikes
- July 20, 2018

Trump argued the Fed's rate hikes went against "all of the work that goes into doing what we're doing". The Fed has been set on a slow and steady path of interest rate hikes over the past two years, leading economists to wonder if the central bank could tamp down some of Trump's promised economic growth. (more...)
'Ready to Go' With Tariffs on $500B of Chinese Imports
- July 20, 2018

When asked during Friday's interview, "Will you ever get to 500, though?" The U.S. has identified a further $200 billion in Chinese goods the U.S. may target for tariffs, for a total of $250 billion. "I'm doing this to do this right thing for our country". Trump wants Chinese leaders to take action that would lower the $375-billion goods trade deficit that the United States is running with China. (more...)
Oil Prices Fall Following U.S. Inventory Rise Oil Prices Fall Following U.S. Inventory Rise
- July 20, 2018

They also want to be able to sell oil at a higher price because they will need more revenue and Iran wants to say that if the Saudis and Russians raise production, it could end the historic OPEC /Non-OPEC pact. The US Energy Information Administration (EIA) said on Wednesday US crude production had reached 11 million barrels per day for the first time. In the wake of these warnings the Japanese banks then notified that they would stop settling transactions related to Iranian Oil. (more...)
Trump Tells CNBC He's 'Not Thrilled' About Rate Hikes
- July 20, 2018

President Trump looks on as his nominee for Federal Reserve chairman, Jerome Powell , takes to the podium at the White House on November 2. By convention, presidents rarely comment on Federal Reserve policy decisions because the Fed is meant to be independent of politics. (more...)
UK’s May halts revolt over Brexit trade bill UK’s May halts revolt over Brexit trade bill
- July 20, 2018

The former mayor of London listed a series of compromises he said had been made since Lancaster House, including the £40bn payment agreed as part of the withdrawal agreement, the continued oversight of the European court of justice over some issues, and the "common rulebook" for key industries. (more...)

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