Business


Median Household Income Rose 1.8% in 2017, Census Bureau Figures Show
- September 12, 2018

A help wanted sign is posted at a taco stand in Solana Beach, California, U.S., July 17, 2017. US household incomes rose again in 2017, according to Census Bureau figures released Wednesday that suggest more Americans are benefiting from the strong economy . (more...)
Jamie Dimon says he could beat Trump in an election Jamie Dimon says he could beat Trump in an election
- September 12, 2018

The executive has been CEO of JPMorgan, the biggest US bank, since 2005. "Because I'm as tough as he is, I'm smarter than he is. I'm smarter than he is", Dimon said. Dimon told FT that the duo is like having two Tom Bradys on the football field so the move toward coach was natural. Following the event, the bank also released a statement from Dimon walking back his comments. (more...)
Apple iPhone XS Event
- September 12, 2018

A second phone with a 5.8-inch OLED display, likely called the iPhone Xs , would be similar to the iPhone X but with an improved processor. The most affordable would be called the iPhone XR and the most expensive - iPhone XS Max . Not only is this great for consumers who now have to carry a pair of devices with them but could also come in very handy for people who travel - as you can buy a local SIM card to get cheaper calls and data but still receive texts and messages on your ... (more...)
Asian stocks mixed on fears of more USA tariffs on China Asian stocks mixed on fears of more USA tariffs on China
- September 12, 2018

He added, " Ford is proud to employ more US hourly workers and build more vehicles in the USA than any other automaker". The president went off on the high-tech company over the weekend - using Twitter to demand that Apple move its production to the U.S. (more...)
How to watch Apple's big iPhone Xs event How to watch Apple's big iPhone Xs event
- September 12, 2018

Despite the cost, over 42 percent of current iPhone owners in the United States are planning to upgrade to whatever Apple announces today . Samsung and Huawei - who along with Apple make up the top three phone makers by market share - have already launched critically acclaimed flagship smartphones this year, placing more pressure on Apple to deliver with its latest iPhone. (more...)
Oil prices near $80 a barrel as concern grows over global supply Oil prices near $80 a barrel as concern grows over global supply
- September 12, 2018

Last week, U.S. Secretary of State Mike Pompeo-who met with top Indian officials to discuss Iranian oil, among other things-said that the U.S. would consider waivers "where appropriate", but reiterated that the United States expects to have Iranian oil exports to 'zero'. (more...)
Hurricane Florence Tracker: Warnings Sent Out for North, South Carolina Hurricane Florence Tracker: Warnings Sent Out for North, South Carolina
- September 12, 2018

CBS News correspondent David Begnaud reported that lanes, at noon, will be reversed on four of the largest roads leading to the SC coast, so cars will only be able to drive inland. North and SC and Virginia ordered mass evacuations along the coast. The eye of the storm is forecast to make landfall late on Thursday or early Friday along a stretch of coastline already saturated by rising seas, and then the system could meander over the land for days. (more...)
Putin treats China's leader to pancakes, vodka at forum
- September 12, 2018

Putin said he expects trade between Russian Federation and China to reach a record $100 billion in 2018, up from about $87 billion previous year. The "nine bridges'" include cooperation in shipbuilding, arctic shipping, seaports, energy and natural gas, as well as railways, jobs, agriculture and fishing. (more...)
Delhi High Court to hear petition against fuel price hike today Delhi High Court to hear petition against fuel price hike today
- September 12, 2018

Without taxes, the retail price of a litre of petrol and diesel should have been around Rs. 40, even at the current level of worldwide crude oil prices. So, it's taken about 9 months for petrol price to increase from Rs 80 to Rs 90 in Parbhani. However, private fuel retailers are charging a notch more than state-run ones like IOC, BPCL and HPCL. (more...)
China promises to retaliate if United States imposes more tariffs China promises to retaliate if United States imposes more tariffs
- September 12, 2018

Trump was trying to twist and turn current events to make it appear as though his tariffs are working in some way. In a note to clients on Monday entitled "Handicapping the China trade risk and potential for ramping United States manufacturing", analyst Wamsi Mohan suggested that the most likely scenario is for Apple to shift 10% of iPhone assembly to the USA, lifting the iPhone average selling price (ASP ) by 8%. (more...)
Read: Full Text of Raghuram Rajan's Note to Parliamentary Committee on NPAs Read: Full Text of Raghuram Rajan's Note to Parliamentary Committee on NPAs
- September 12, 2018

Rajan's 17-page note was submitted to the parliamentary committee on estimates, which is headed by veteran BJP leader Murli Manohar Joshi who is now out of favour with the Modi administration. "It is at such times that banks make mistakes". They extrapolate past growth and performance to the future. The former RBI governor noted that unscrupulous promoters felt real threat of losing projects and banks got effective leverage only after the bankruptcy code was implemented (in May, 2016). (more...)
Despite governor’s order, Beaufort County schools will remain closed Wednesday
- September 11, 2018

National Hurricane Center Director Ken Graham warned that Florence was forecast to linger over the Carolinas once it reaches shore. Florence's top wind speeds were still hovering at about 130 miles per hour on Tuesday, making Florence a Category 4 hurricane. (more...)
Trump wants Obama to know he has a 'magic wand' Trump wants Obama to know he has a 'magic wand'
- September 11, 2018

Well, it depends on who you ask. "When you hear about this economic miracle that's been going on, when the job numbers come out, monthly job numbers, and suddenly Republicans are saying, 'It's a miracle, '" President Obama said . As for GDP , Obama averaged 2.1 percent growth during his time in office. Still, as Trump accurately points out, the recovery under Obama was marked by a slower rate of growth than what followed previous recessions, such as the recovery under President Ronald ... (more...)
Alibaba, Russian tech firm Mail.ru to launch new venture Alibaba, Russian tech firm Mail.ru to launch new venture
- September 11, 2018

The deal comes after Russia's largest bank Sberbank and internet company Yandex announced an e-commerce tie-up in August. The new company will be called AliExpress Russia - taking after the name of an existing Alibaba platform. It already plays a major role in e-commerce in Russian Federation through its AliExpress and Tmall platforms. The deal was announced in a joint statement during the Eastern Economic Forum , an event in Vladivostok where Chinese President Xi Jinping met Russian ... (more...)
Workers in Britain should have a three-day weekend, the TUC says Workers in Britain should have a three-day weekend, the TUC says
- September 11, 2018

But in the last century we won a two-day weekend and limits on long hours. "This century, we must raise our sights to reduce working time again". At the beginning of the year, a New Zealand company trialled a four-day work week, which its CEO hailed a success. (more...)
White House Corrects Trump’s Tweet on GDP, Unemployment
- September 11, 2018

Kevin Lewis, the former spokesman, told Hill.TV that Obama came into office when both the USA and global economy were in a "free fall", and that he made the "necessary steps" and worked with Congress to ultimately save both. "I can tell you what is true", Hassett said, when asked about the inconsistency at a White House briefing on Monday. But Trump's mention of Obama's comments about a "magic wand" appear to reference a June 2016 town-hall event in IN when the former president was asked ... (more...)
Doug Ford Overrules Provincial Judge Over Toronto Council Size Doug Ford Overrules Provincial Judge Over Toronto Council Size
- September 11, 2018

Justice Edward Belobaba shot down the province's plan to downsize city council on Monday. On Monday morning, Superior Court Justice Edward Belobaba released a ruling that stated Ontario's Bill 5, the Better Local Government Act, infringed on Charter rights, and deemed it unconstitutional. (more...)
Alibaba’s Jack Ma to step down as chairman in September 2019 Alibaba’s Jack Ma to step down as chairman in September 2019
- September 11, 2018

Alibaba is one of a group of companies including Tencent Holding Ltd., a games and social media giant, search engine Baidu .com Inc. and e-commerce rival JD.com that have revolutionized shopping, entertainment and consumer services in China. (more...)
US companies bemoan impact of Trump trade tariffs US companies bemoan impact of Trump trade tariffs
- September 11, 2018

A tweet from the Oval Office on Sunday wasn't enough to convince Ford Motor Company to build a new compact crossover SUV version of its Focus in the U.S. We believe Apple could ask Hon Hai and Pegatron to shift a small portion of their iPhone manufacturing to the U.S. in response to President Trump's request. (more...)
US, Canada will meet Tuesday earlier than expected on NAFTA
- September 11, 2018

The trip to Washington is expected to be short as Freeland is scheduled to be at a caucus retreat Wednesday. "The U.S. knows what Canada's tough issues are, so they're going to hold those to the end, and squeeze out concessions on every other issue they can", said Ujczo, who is regularly briefed on the talks. (more...)
Top White House Economist Says Trump's GDP Claim Was Wrong
- September 11, 2018

But as he answered a question from a reporter about Trump's tweet, he also bashfully recalled an earlier incident when he gave Sanders a "bad number". "What is true it is that it's the highest in 10 years". Trump mistakenly said that Obama's "magic wand" quote was about GDP growth, but it was actually about lost jobs. (more...)
Canada man emails 247 women called Nicole to find girl he met Canada man emails 247 women called Nicole to find girl he met
- September 11, 2018

Many of the Nicoles (and variations Zetina looped in, including Nicolettes and Nikkis) who received the email Friday were so taken aback by Zetina's gesture that they couldn't help but poke fun at him to one another. He got her phone number, but it turned out to be a wrong number. She said that while the women were meeting one another a message came into the Facebook group from what appeared to be the "Real" Nicole. (more...)
Despite Trump's Suggestion, Ford Won't Produce This Vehicle In The US Despite Trump's Suggestion, Ford Won't Produce This Vehicle In The US
- September 11, 2018

The Trump administration has imposed tariffs on $50 billion worth of Chinese goods, including some automobiles, in a move Trump has touted as necessary to punish Beijing for what he says are its unfair trade practices and intellectual property theft. (more...)
US SEC halts trading in two cryptocurrency products, citing market confusion US SEC halts trading in two cryptocurrency products, citing market confusion
- September 11, 2018

Bitcoin declined 2.4 per cent, while the market capitalization of digital assets tracked by CoinMarketCap.com shrank to about US$197 billion - down nearly US$640 billion from its January peak. The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments. (more...)
Rupee Crashes: Centre May Tap NRIs to Arrest Fall Rupee Crashes: Centre May Tap NRIs to Arrest Fall
- September 11, 2018

The currency witnessed intense volatility and hit all-time low of 72.64 during morning deals. According to senior forex analyst at a government bank, " RBI is not trying to defend any level strongly today". Finance Minister Arun Jaitley had last week attributed the fall in rupee to global factors and said that there was no need for panic or knee-jerk reactions. (more...)

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