Business


GDP growth accelerates in Q1; highest in over two years GDP growth accelerates in Q1; highest in over two years
- September 01, 2018

India is a massive importer of oil, however, and analysts say high crude prices and a tumbling Indian rupee threaten to derail growth. Better rainfall this year, and government spending have given households more money to buy consumer durables, which helped the manufacturing sector post 13.5 per cent growth in June quarter, in sharp contrast to the 1.8 per cent contraction recorded a year earlier. (more...)
China FM Spars with US Over Trade Tariffs, Calls For Reciprocal Trade China FM Spars with US Over Trade Tariffs, Calls For Reciprocal Trade
- September 01, 2018

The rupiah has lost two percent so far this month. "The trade-positive news in the beginning of the week with the U.S. -Mexico deal has turned, and has become trade-negative", said Alfonso Esparza, currency strategist at OANDA in Toronto. (more...)
Freeland to break from NAFTA talks to make announcement at embassy Freeland to break from NAFTA talks to make announcement at embassy
- September 01, 2018

Mr. Trump tweeted on Friday afternoon that the report of his off-the-record comments was " more dishonest reporting ". The Toronto Star obtained off-the-record remarks Trump made in an interview with Bloomberg News in which the president admitted that he would not make compromises in order to secure an agreement. (more...)
Brazil may limit entrance of Venezuelans via northern border: Temer Brazil may limit entrance of Venezuelans via northern border: Temer
- September 01, 2018

However, this hundreds of thousands of people are not only fleeing their country due to meltdown of the economy but the exodus to is accelerated by the existing turmoil on the countries political matters. It is plunging the continent into discord", Temer said. Residents of Pacaraima ran riot this month and drove out Venezuelan immigrants after a restaurant owner was stabbed and beaten. (more...)
Ford Scraps Plan to Import China-Built Small Car Due to Tariffs Ford Scraps Plan to Import China-Built Small Car Due to Tariffs
- September 01, 2018

The automaker announced the decision on Friday, saying that the previously imposed tariffs on Chinese products - and the prospect of more in the future - are likely to hit the company's bottom line. The automaker is in the midst of a global restructuring expected to cost $11 billion over the next three to five years. That may sound like a lot of cars, but to Ford that makes the Focus Active "low volume". (more...)
China cuts out gaming time to take care of kids' eyesight China cuts out gaming time to take care of kids' eyesight
- September 01, 2018

Founded in 1998, Tencent's main business is video games but the company also runs China's dominant social network, WeChat , with more than 1 billion users. In August past year, Tencent managed to paint a target on its back after teenagers became enamored with its hit mobile MOBA, Honor of Kings . Chinese media blamed the hold-up on personnel changes arising from Xi's consolidation of power at a Communist Party leadership meeting late previous year, which has made him the most ... (more...)
Ford won't sell Focus crossover in USA due to tariffs
- September 01, 2018

The automaker had planned to build the Focus Active SUV in China about this time next year. But with Trump's recently announced 25 percent tariffs, the company said it plans to scrap the auto and not sell any of them in the U.S.in the coming year. (more...)
Rupee Collapses To New Record Low Rupee Collapses To New Record Low
- August 31, 2018

Analysts expect rupee to hit the 72 level per dollar if the current situation persists. Analysts pointed out that caution ahead of key macroeconomic data coupled with a rise in demand for USA dollars also dragged the rupee lower. "The rupee has made a new record low of 71 today on the back of rising crude oil prices in the global market". The rupee hovered between 70.62 and 70.90 during morning deals. (more...)
U.S. scraps tariffs on Canadian paper in win for newspapers U.S. scraps tariffs on Canadian paper in win for newspapers
- August 31, 2018

It said written findings would be released in mid-September. The U.S. International Trade Commission voted Wednesday to terminate tariffs imposed on newsprint imported from Canada, a decision that was celebrated by the American newspaper industry. (more...)
Trump threatens to withdraw US from World Trade Organization Trump threatens to withdraw US from World Trade Organization
- August 31, 2018

Trump has been sounding off about the unfair trade since even before he became president. In fact, trade experts say, the USA has a similar, if not better, lose-win rate than other countries that have taken complaints to the WTO, and it has a rare privilege in that the judges on the WTO's Appellate Body have always included one American. (more...)
Indian economy grows at 15-quarter high of 8.2% in Q1
- August 31, 2018

The corresponding figure for the first quarter of 2017-18 was Rs 31.18 lakh crore. Finance Minister Arun Jaitley, on Thursday, said that India is all set to take over the United Kingdom as the world's fifth largest economy . The index of industrial production (IIP)-the broadest approximation to measure activity across India's factories-has grown at 5.2 percent during April-June 2018 compared with 1.9 percent in the same period a year ago. (more...)
Coca Cola buys Costa Coffee for £3.9 billion Coca Cola buys Costa Coffee for £3.9 billion
- August 31, 2018

Asked if Whitbread had been pressured to accelerate the sale by activist investor Elliott and other hedge funds, Chief Executive Alison Britain said no. All that changed with the arrival of Alison Brittain as chief executive - and the appearance on the shareholder register of Elliott Management, an aggressive, deep-pocketed U.S. (more...)
Maker of James Bond's favorite sports car eyes stock market Maker of James Bond's favorite sports car eyes stock market
- August 31, 2018

Palmer said the company will float at least 25 percent of shares in the initial offering. Analysts are carefully watching the public offering to search for clues regarding investor sentiment, as not many high profile IPOs are expected to float in the London Stock Exchange before the United Kingdom leaves the European Union next March. (more...)
Argentina’s Central Bank Lifts Policy Rate to 60%
- August 31, 2018

Argentina has $24.9 billion in peso- and foreign currency-denominated debt payments due next year, according to official data. Argentina's President Mauricio Macri has asked the International Monetary Fund for an early release of funds from a $50bn deal to ease concerns that the country will not be able to meet its debt obligations for 2019. (more...)
Argentina Hikes Interest Rate to 60 percent as Peso Crashes Argentina Hikes Interest Rate to 60 percent as Peso Crashes
- August 31, 2018

Latin America's third biggest economy is expected to shrink this year, weighed down by inflation running at 31 percent, while already-scare credit gets choked off by increasingly onerous borrowing costs. IMF Managing Director Christine Lagarde responded by saying in a statement that the multi-lateral lender's staff would "reexamine the phasing of the financial program". (more...)
Donald Trump Scraps Federal Employees' Planned Pay Raise, Calls It 'Inappropriate' Donald Trump Scraps Federal Employees' Planned Pay Raise, Calls It 'Inappropriate'
- August 31, 2018

In the letter, sent to Speaker of the House Paul Ryan (R., Wis.), Trump said the government could not sustain the scheduled increases. The House version of the bill did not include such an increase, and sought reductions to spending on federal pension plans. (more...)
Dyson reveals plans for $260M expansion to electric auto test center Dyson reveals plans for $260M expansion to electric auto test center
- August 31, 2018

Dyson is specifically considering setting up a dynamic handling track; an off-road route; a high-speed section; and some test slopes , to allow for thorough testing of its upcoming battery-electric auto. Fast Road Route: Much like it sounds, Dyson will use this track to test the maximum speeds that its vehicle is able to achieve, as well as its advanced driver assistance systems. (more...)
Argentina's peso tumbles further, despite interest rate hike to 60pc
- August 31, 2018

It ago resulted in one of every five Argentinian being unemployed and millions sliding into poverty. While analysts have praised moves such as obtaining the International Monetary Fund credit line in June and previous rate increases, there's also lingering suspicion that officials lack the political will to make the spending cuts and tax increases necessary to tame inflation and restore growth. (more...)
Tesla buyers in Ontario may get their rebate after all Tesla buyers in Ontario may get their rebate after all
- August 31, 2018

Myers quashed the government's exercise of discretion as it was made for an improper objective and because it singled out Tesla without providing the vehicle maker "any fair process whatsoever". "Bumper sticker slogans might work during a campaign, but they can not substitute for legitimate policy. It seemed mean-spirited and unnecessary at the time, and now the courts have agreed", said Danckert. (more...)
Tesla driver charged after 100-foot jump caught on camera in Canada Tesla driver charged after 100-foot jump caught on camera in Canada
- August 31, 2018

Turns out, the driver lost control on landing before crashing in a parking lot of an elementary school. A 46-year-old man was charged with risky driving following a single-vehicle collision on August 28. Considering Teslas are, you know, not supposed to fly, it's not surprising that the four-door vehicle, which appears to be a sedan, was totaled. It's a wonder the two people inside the vehicle got away with only minor injuries. (more...)
European Union says it is willing to drop auto tariffs if United States reciprocates European Union says it is willing to drop auto tariffs if United States reciprocates
- August 31, 2018

After months of back-and-forth, retaliatory tariffs between the USA and the European bloc, Trump wants to see all tariffs removed on all industries, including agriculture, steel aluminum and medical equipment, according to the official. "We would do it if they do it". "On the timetable. Obviously we would seek to try to finalise this during the mandate of the Commission (which ends in autumn 2019)", Malmstrom said. (more...)
Fate of Trans Mountain pipeline awaits landmark federal court decision Fate of Trans Mountain pipeline awaits landmark federal court decision
- August 31, 2018

The expansion project is meant to bring a new, parallel pipe to the existing one. Meanwhile B.C. Premier John Horgan told reporters the court case "has always been about First Nations rights" and congratulated the involved Indigenous groups. (more...)
Warren Buffett Is Finally Betting On India, Paytm Confirms Investment From Berkshire Warren Buffett Is Finally Betting On India, Paytm Confirms Investment From Berkshire
- August 30, 2018

One97 declined to comment while Omaha, Nebraska-based Berkshire Hathaway didn't immediately respond to a request for comment outside USA business hours. In May, Buffett had indicated an interest in the financial payments industry at an annual shareholders meeting, saying the sector was a huge deal around the world and that many companies were working to reinvent the space. (more...)
Argentina asks International Monetary Fund for early release of US$50 billion credit line
- August 30, 2018

It was the biggest one-day decline in the peso ARS=RASL since the currency was allowed to float in December 2015. Argentina's central bank on Thursday raised its benchmark interest by 15 percentage points to 60 percent, the highest in the world, after the peso plummeted to a new record low. (more...)
Energy drinks ban for children to tackle disruptive behaviour in class Energy drinks ban for children to tackle disruptive behaviour in class
- August 30, 2018

Excessive consumption has been linked to a host of health and behaviour problems in children , from headaches to hyperactivity, as well as disobedience in schools. In comparison, a 330ml can of classic Coca-Cola contains 32mg and a can of Diet Coke 42mg. The Government is holding a consultation on what form new rules around energy drinks should take. (more...)

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