Business


‘Nervous mess’ Jamie Dimon doesn’t have ‘the smarts’ to run for president ‘Nervous mess’ Jamie Dimon doesn’t have ‘the smarts’ to run for president
- September 14, 2018

Dimon, as he has been sometimes wont to do after making grand claims, walked back his earlier comments, though some observers have noted that the latter part of his statement sounds suspiciously like something he would say if he were running for president. (more...)
BMW Motorrad develops a self-driving R 1200 GS adventure bike BMW Motorrad develops a self-driving R 1200 GS adventure bike
- September 14, 2018

The bike is capable of reading its track ahead of it and can steer its way around as well. If a critical situation does arise, the system will warn, inform the rider, and if need be, directly intervene in the scenario. However, BMW Motorrad says it has no plans for completely eliminating the rider or developing an independent motorcycle. Autonomous, or driverless, cars are a concept most of us are familiar with and testing has been taking place on public roads. (more...)
End of an era: Volkswagen to quit iconic 'Beetle' cars in 2019 End of an era: Volkswagen to quit iconic 'Beetle' cars in 2019
- September 14, 2018

Dubbed the "People's vehicle", the original Beetle was designed by Adolf Hitler and Ferdinand Porsche to be cheap and simple, and continued production right through to 2003. peaked the same year of the original Disney movie at about 423,000 units sold. The original version of the Beetle , a rear-engined vehicle that owners often decked out in colorful paints during the flower power era of the 1960s and 70s, ended production in Mexico in 2003. (more...)
Most US voters oppose Trump's impeachment: new poll Most US voters oppose Trump's impeachment: new poll
- September 14, 2018

Republicans by a 62 to 11 percent margin say Congress is doing enough. "But it is clearly not the only thing that matters, and in a news cycle increasingly driven by the president, an terrible lot of new things are entering the lexicon of everyday Americans". (more...)
Trump ‘wants US$200 billion in China tariffs despite talks’ Trump ‘wants US$200 billion in China tariffs despite talks’
- September 14, 2018

About half of American firms are making less money, and a similar amount are reporting higher production costs, according to the survey. From cooling USA inflation to central-bank meetings in Europe, the U.K. The longer the trade war continues the less attractive China will become as a manufacturing base for worldwide companies, making other emerging markets like Indonesia and India preferable locations for manufacturing. (more...)
Apple 2018 Event Recap: iPhone Xs, Xs Max, Xr, Apple Watch
- September 14, 2018

The iPhone Xs and iPhone Xs Max improve in several areas of performance over the iPhone X. We get a brand new processor on a smaller node. The Apple Watch series 4 will go on sale from September 21st but you can pre-order it from September 14th. (more...)
Jeff Bezos, Amazon founder, launches $2 billion charitable fund to fight poverty Jeff Bezos, Amazon founder, launches $2 billion charitable fund to fight poverty
- September 14, 2018

The second will operate a network of high-quality, full-scholarship Montessori-inspired preschools. Public donations by the 54-year-old Bezos have been rare, and - with exceptions like a $35 million family donation to the Fred Hutchinson Cancer Research Center - typically on a scale far smaller than the two men just behind him in the wealth rankings, Microsoft co-founder Bill Gates and Berkshire Hathaway's Warren Buffett. (more...)
Turkey stuns market with massive interest rate hike Turkey stuns market with massive interest rate hike
- September 14, 2018

Economists have argued the nominally independent bank has come under pressure from Erdogan who, only a couple of hours before its decision, launched a blistering attack on the bank and interest rates. "Every business in this country needs to be priced, discussed and carried out with our own currency". "The crucial thing is to restore the confidence of worldwide investors that their policies are on the right track", global economist Eswar Prasad said earlier this month. (more...)
Oil hits $80 as Iran fears mount Oil hits $80 as Iran fears mount
- September 14, 2018

Oil traders were also watching the progress of category 4 Hurricane Florence, which is expected to make landfall in the USA by Friday. US crude futures rose 61 cents to $69.86 a barrel. "Russia has the potential to raise production by 300,000 barrels (per day) mid-term, in addition to the level of October 2016", he said. S&P global Platts said OPEC, in a report, indicated demand for the organization's own crude oil in September will be nearly 1 million bpd more than the level produced in ... (more...)
Oil up over 2% on concerns over Iran, slower United States output growth Oil up over 2% on concerns over Iran, slower United States output growth
- September 14, 2018

Oil traders were also watching the progress of category 4 Hurricane Florence, which is expected to make landfall in the USA by Friday. This comes amid the Iranian oil sanctions which are set to be imposed on November 4th, while the USA have also demanded nations to drop Iranian imports to zero. (more...)
Canadian trade negotiators to brief PM Trudeau in person Canadian trade negotiators to brief PM Trudeau in person
- September 14, 2018

But a deal without Canada has virtually no chance of being passed, Mulroney said. "I don't think President Trump will go to the mat over Chapter 19. The two sides have so far been unable to break an impasse over, among other issues, USA access to the Canadian dairy market, a cultural exemption for Canada and the Chapter 19 dispute resolution mechanism . (more...)
Turkey raises interest rates to 24% in startling bid to curb inflation Turkey raises interest rates to 24% in startling bid to curb inflation
- September 13, 2018

Turkey's central bank raised its benchmark rate by 625 basis points on Thursday in a move that boosted the lira and may ease investor concern about President Tayyip Erdogan's influence on monetary policy. "Turkey needs structural reforms to increase productivity, to decrease its dependence on short-term portfolio flows and to decrease the rigidness in the labour market". (more...)
Many California marijuana products failing safety tests Many California marijuana products failing safety tests
- September 13, 2018

Alternatively, an adult can buy up to eight grams of cannabis concentrates through marijuana edibles such as brownies, candy and breakfast bars, according to The Maven website. Some lab officials say a large number of potentially harmful species of mold and yeast can go undetected in pot products because they are not now covered in state guidelines. (more...)
Shares in Debenhams dive as Sports Direct rules out offer Shares in Debenhams dive as Sports Direct rules out offer
- September 13, 2018

Sports Direct said its chairman Keith Hellawell would step down at its annual meeting today. Council managing director Tim Johnson said the preferred option was for it to remain a House of Fraser store, but the local authority had been discussing alternative options with the landlords. (more...)
US firms in China feeling 'clear and far reaching' trade war pinch
- September 13, 2018

They plan events in Chicago, Nashville, Pennsylvania and OH starting next week, according to a statement posted on a new website. It's unclear yet what specific sectors have been affected by the suspension, but it will likely include industries that Beijing has promised to open to foreign businesses, such as banking, securities, insurance and asset management, said Jacob Parker, vice-president for China operations of the USCBC. (more...)
Man jailed in Italy for writing fake TripAdvisor review Man jailed in Italy for writing fake TripAdvisor review
- September 13, 2018

A fraudster has been jailed for selling fake Tripadvsior reviews to hospitality companies in one of the first cases of its kind. The owner of Promo Salento, a company which sold fraudulent listings to business owners' to help them boost their profiles on the site, was sentenced to nine months by an Italian court. (more...)
Despite Trump tweet, Ford says it won’t make hatchback in US Despite Trump tweet, Ford says it won’t make hatchback in US
- September 13, 2018

But in one of his early morning Tweets Sunday, Trump tweeted: " Ford has abruptly killed a plan to sell a Chinese-made small vehicle in the U.S. because of the prospect of higher U.S. In commodities, oil prices were firmer after three straight days of losses, with US crude futures up 44 cents at $68.19 per barrel. The "easy solution" of moving production to the United States is anything but. (more...)
Erdogan appoints himself chairman of Turkey's sovereign wealth fund
- September 13, 2018

Rental and sale agreements in Turkey are often offered in euros and dollars to foreigners living in the country. In a decision published on Thursday in the Official Gazette, the government said any contracts previously made in foreign currency but which are now in effect must be converted into lira within 30 days. (more...)
US invites China to trade talks as tariffs loom: White House adviser US invites China to trade talks as tariffs loom: White House adviser
- September 13, 2018

Some businesses are concerned about rising costs of imported materials; others, particularly farmers, about retaliatory tariffs imposed by China and Europe on USA exports. On top of that, electricity for businesses in China cost 1.3 times that in America, logistics expenses were 1.9 times higher, and social security contributions paid by Chinese companies were 43 per cent of wages - much more than the 13 per cent USA businesses paid, Ren wrote in a research note last month. (more...)
India’s retail inflation eases to 3.69 % in August from 4.17 % in July
- September 13, 2018

The target was last met in October 2017, when CPI inflation had come in at 3.58 per cent. The median forecast of economists polled by Reuters for August was 3.86 percent, with three-quarters of those polled predicting inflation would be below the RBI's target. (more...)
IDBI officials knew of losses at Kingfisher, claims Mallya's lawyer IDBI officials knew of losses at Kingfisher, claims Mallya's lawyer
- September 13, 2018

But, Jaitley claims he turned Mallya down and asked him to speak to his bankers. Mumbai/London: A defiant Vijay Mallya, who is facing money laundering charges in multi-crore fraud case in India, said on Wednesday that he had made a " comprehensive settlement" offer before the Karnataka High Court that will help in paying off all his dues. (more...)
USA 'likely' taken over as world's top oil producer USA 'likely' taken over as world's top oil producer
- September 13, 2018

EIA's Short-Term Energy Outlook (STEO) report states preliminary estimates show the US feasibly overtook Saudi Arabia and Russian Federation to become the top crude oil producer earlier this year. The oil price decline in mid-2014 resulted in USA producers reducing their costs and temporarily scaling back crude oil production. By comparison, Russian Federation and Saudi Arabia have maintained relatively steady crude oil production growth in recent years. (more...)
Vladimir Putin offers Kuril Islands peace deal to Japan's Abe Vladimir Putin offers Kuril Islands peace deal to Japan's Abe
- September 13, 2018

Russian President Vladimir Putin said on Wednesday that North Korea was taking a lot of steps toward denuclearizing the Korean Peninsula but Washington was not responding and was making endless demands for full disarmament instead. His comments came just days after confessing that the territorial dispute between Japan and Russian Federation, which has dragged on for decades, was unlikely to be resolved in the near future. (more...)
Stocks Rebound as Investors Learn to Live With Trade War Stocks Rebound as Investors Learn to Live With Trade War
- September 13, 2018

He then asked it to "start building new plants now". The United States imported $3 of Chinese goods previous year for every $1 of American goods bought by China. "Without the tariffs, the industry case was as soon as graceful solid for that mannequin within the USA market", Kim acknowledged. The company has not announced plans to move manufacturing from China to the U.S. (more...)
Household incomes rise to new high, but rate of health coverage flattens Household incomes rise to new high, but rate of health coverage flattens
- September 13, 2018

Middle-class income rose to a record level in 2017 as the strong economy lifted the fortunes of more Americans, the U.S. Census reported Wednesday. The median USA household earned $61,372 past year, meaning half of the families in the country brought in more income than this and half earned less. (more...)

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