Business


U.S. Trade Groups Laud Progress on Nafta But Want Three-Way Deal
- August 28, 2018

The textile industry, however, said it has concerns with what it has heard about the deal so far, specifically the potential that sewing thread, pocket fabric, elastic bands and coated fabric would also have to meet North American rules of origin. (more...)
Toyota invests $500M in Uber as companies team on self-driving vehicles Toyota invests $500M in Uber as companies team on self-driving vehicles
- August 28, 2018

Shigeki Tomoyama, executive vice president of Toyota Motor Corporation, said: "This agreement and investment marks an important milestone in our transformation to a mobility company as we help provide a path for safe and secure expansion of mobility services like ride-sharing". (more...)
Seth Frotman, top student loan official, resigns, blaming Trump administration Seth Frotman, top student loan official, resigns, blaming Trump administration
- August 27, 2018

The Navient lawsuit has been mired in bureaucratic red tape as the Department of Education, headed by Betsy DeVos, has been unwilling to help the CFPB with their lawsuit. The office processed tens of thousands of complaints from student loan borrowers and was among the first major government offices to raise alarms about the growing issue of students being unable to afford repaying their loans. (more...)
U.S., Mexico reach NAFTA deal as pressure turns to Canada
- August 27, 2018

In response, Mexico slapped tariffs on $3 billion of USA goods, including steel, pork, apples, potatoes, bourbon and different types of cheese. A spokesperson for Canadian Foreign Minister Chrystia Freeland said: "Canada is encouraged by the continued optimism shown by our negotiating partners". (more...)
U.S., Mexico Reach Trade 'Understanding' That Could Lead To NAFTA Overhaul U.S., Mexico Reach Trade 'Understanding' That Could Lead To NAFTA Overhaul
- August 27, 2018

But Trump and U.S. Trade Representative Robert Lighthizer said Monday that they plan to send a Mexico-U.S. deal to Congress by Friday to start the clock on the waiting period. Under the new deal, 75% of an automobile's value must be manufactured in North America, up from NAFTA's current level of 62.5%. Trump repeatedly criticized NAFTA, calling it " the worst trade deal in history". (more...)
Trump's new trade deal with Mexico doesn't include Canada
- August 27, 2018

It's a tremendous amount of money and it's a very simple negotiation. The name had a "bad connotation", Trump said. The countries are said to have agreed that automakers who don't comply with the new NAFTA rules will pay a 2.5 per cent tariff, the same as they would if they skirted the existing NAFTA, while any new Mexican plants wouldn't have a guarantee. (more...)
Uber to focus on bikes and scooters over cars for short trips Uber to focus on bikes and scooters over cars for short trips
- August 27, 2018

The move is part of a longer-term strategy from the company to find ways of improving inner-city travel, with scooters and bicycles better-suited than cars, according to Mr Khosrowshahi. Uber's position remains uncertain in London, where it was granted a 15-month provisional licence on appeal this year after it was found not to be a "fit and proper" operator of private hire vehicles. (more...)
Trump misstates approval rating in latest poll Trump misstates approval rating in latest poll
- August 27, 2018

Trump was aware of Russian government agents hacking illegally, committing computer crimes, to the detriment of the candidate who he was running against, Hillary Clinton", Davis told PBS' " NewsHour " on Wednesday. Trump praised his former campaign chairman as "a fearless man" for not cooperating with investigators - as aides speculated about Trump possibly considering a pardon. (more...)
Tesla shares fall 5% after Musk abandons buyout Tesla shares fall 5% after Musk abandons buyout
- August 27, 2018

The Securities and Exchange Commission initiated an investigation to learn whether Musk had misled investors about the financing. For the company's investors, Tesla's CEO Elon Musk is a visionary whose electric auto is giving us a glimpse into the future that successfully integrates clean energy with transport and home power. (more...)
US, Mexico strike tentative NAFTA deal
- August 27, 2018

Trade Representative's office where negotiations are going on. The trilateral treaty has been a key target in Trump's aggressive trade strategy, and he has repeatedly threatened to scrap it altogether, branding it a "disaster". Canada points out, however, that its signature is required. Stock markets surged on Monday following news that the US and Mexico had reached a preliminary deal in renegotiations of the North American Free Trade Agreement ( NAFTA ), despite Canada's exclusion from ... (more...)
Land Rover announces options packs for dog owners Land Rover announces options packs for dog owners
- August 27, 2018

The £482 Pet Load Space Protection Pack , for example, includes a quilted load space liner, full-height luggage partition and a spill-resistant water bowl. It has multiple uses and can be used for washing pets or rinsing off wetsuits or muddy bikes. It will support up to 85kg as a result of its sturdy aluminium construction. (more...)
Buffett May Buy Stake in India's Paytm Buffett May Buy Stake in India's Paytm
- August 27, 2018

Warren Buffett's Berkshire Hathaway Inc is all set to buy a stake in Paytm's parent organisation One97 Communications Ltd which is reported to cost the American business magnate over Rs 2,000-2,500 crore ($300-350 million). Berkshire Hathaway's entry into India has been long awaited and the imminent deal would mark a ringing endorsement of India's internet and tech ecosystem from one of the world's most renowned investors, especially since the country's start-up ecosystem has also attracted ... (more...)
Michael Cohen Tweets Appreciation for Birthday Wishes and Go Fund Me Donations
- August 27, 2018

Allies wonder what Trump might do if the pressure continues to increase. The Cohen case is unlikely to lead to any legal consequences for Trump while he is in office, experts say, although it could prompt calls for his impeachment should Democrats take the House in November. (more...)
AK-47-maker Kalashnikov reveals (220 kW!) retro concept AK-47-maker Kalashnikov reveals (220 kW!) retro concept
- August 27, 2018

Russian defense company Kalashnikov is branching out from making guns and weaponry. Of course, when a Russian news outlet asked how the auto called the CV-1, which will reportedly have a range of 217 miles per charge, stood out compared to a Tesla, a Kalashnikov representative was stumped. (more...)
Volkswagen Stops Using Anti-Hail Cannons After Farmers Complain Volkswagen Stops Using Anti-Hail Cannons After Farmers Complain
- August 27, 2018

A lot full of vehicles is seen at Volkswagen's Puebla, Mexico, production plant. Scientists are skeptical over whether hail cannons actually work. " Volkswagen claims to be an environmentally friendly company, but they're not showing it ", said the top local environmental official Rafael Ramirez. (more...)
Saudi Reforms to Boost Growth Despite Any Aramco IPO Delay Saudi Reforms to Boost Growth Despite Any Aramco IPO Delay
- August 27, 2018

There has been considerable debate within Saudi Arabia about whether the sale was warranted and about whether selling off even a small stake of the kingdom's crown jewel was too risky. The IPO has figured in Crown Prince Mohammed bin Salman's vision of Saudi Arabia's future since his first interview with worldwide press in January 2016. (more...)
Alibaba Limited Cryptocurrency OTC Trading Alibaba Limited Cryptocurrency OTC Trading
- August 27, 2018

Prior to this announcement, there was a report yesterday that China financial regulators are making attempts to block Internet access to more than 100 foreign cryptocurrency trading providers that are still found servicing Chinese investors . (more...)
Oil up as US sanctions on Iran cloud supply outlook Oil up as US sanctions on Iran cloud supply outlook
- August 27, 2018

WTI is heading for a 3.7 percent weekly increase. Traders are particularly concerned about the supply side of the equation because of the looming US sanctions against Iran, which will target oil exports from November. A key index of the dollar versus a basket of other currencies.DXY fell on Friday, boosting the price of oil and other dollar denominated commodities. (more...)
Steve Jobs’ Daughter Details Awkward Relationship With Late Father Steve Jobs’ Daughter Details Awkward Relationship With Late Father
- August 27, 2018

The book features many moments where it seems like Lisa is making her father look like a monster. "Would it be too perverse?" she told The Times . When Steve Jobs told his daughter Lisa Brennan-Jobs that the Apple Lisa computer was not named after her, it was not a cruel lie to a little girl, she insists - he was teaching her "not to ride on his coattails". (more...)
Edinburgh Airport named 4th best large airport in the UK Edinburgh Airport named 4th best large airport in the UK
- August 26, 2018

It received an overall score of 49 per cent, according to research published today by Which? , the consumer group. London Luton Airport has been named "the worst airport in the UK" after a passenger satisfaction survery conducted by 'Which?' The airport has recently received public backing to extend its terminal and build an on-site train station. (more...)
Procter & Gamble Seeks To Trademark LOL, WTF Procter & Gamble Seeks To Trademark LOL, WTF
- August 26, 2018

P&G's senior counsel Megan Hymore had applied for the trademark in April, but the U.S. patent office has sought some clarification on the matter, which seems to have delayed the process. P&G board member Nelson Peltz acknowledged that Millennials want a more intimate relationship with their products, saying that younger consumers do not want "one-size fits all" brands. (more...)
S&P 500, Nasdaq end at records after Fed speech S&P 500, Nasdaq end at records after Fed speech
- August 26, 2018

The Australian dollar dipped 0.05 percent to $0.7245. The Aussie was up 0.4 percent at $0.7277 AUD=D4 . Futures indicated Wall Street was set to open higher. The US dollar bought 111.20 Japanese yen, lower than 111.29 Japanese yen of the previous session. JPY= It was 0.4 percent lower to the euro at $1.15830. (more...)
Search for North Sea fishermen called off after bodies found
- August 26, 2018

Aimee Rampton, a coastguard operations controller, said: "The helicopter located the bodies of the missing crew near the sunken fishing vessel wreckage". The three rescued men arrived in Dover on Sunday and will be returned home, the Coastguard said. The search on Saturday night involved two coastguard helicopters, lifeboat crews from Gorleston and Caister, and a number of other boats in the area. (more...)
Trump Organization executive Allen Weisselberg receives immunity deal Trump Organization executive Allen Weisselberg receives immunity deal
- August 26, 2018

Corey Lewandowski , President Trump's former 2016 campaign manager, on Sunday said he put out warnings that former Trump lawyer Michael Cohen was "going to become a problem" and that Mr. Trump's base will remain faithful to him to the bitter end, but the people who really matter are turning against him, and it doesn't bode well for his political survival. (more...)
Fed meet: US central bank suggests interest rate hike could come soon Fed meet: US central bank suggests interest rate hike could come soon
- August 26, 2018

The minutes, released Wednesday, showed the Federal Open Market Committee discussing the possibility of raising rates soon to counter excessive economic strength, according to a Reuters report. The Fed often walks a delicate tightrope in setting interest rates as it balances its dual mandate of promoting full employment and maintaining stable prices. (more...)

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