Business

Business Oil cartel backs Iran in face of looming U.S. sanctions
Author: 0 Oil cartel backs Iran in face of looming U.S. sanctions

Russia , the world's largest oil producer, and other producers in OPEC have kept in place a supply agreement to maintain prices while at the same time providing enough oil to the market. Meanwhile, an industry report Tuesday showed USA crude stockpiles increased 1.25 million barrels last week, defying expectations for a decline ahead of government data Wednesday.

Business Chinese goods on USA radar, India braces for shockwave
Author: 0 Chinese goods on USA radar, India braces for shockwave

Beijing's statement came hours after Trump imposed 10 per cent tariffs on about US$200 billion (RM827.8 billion) worth of imports from China, and threatened duties on about $267 billion more if China hit back on the latest USA action. The government has already been ramping up spending on infrastructure. House Ways and Means Committee Chairman Kevin Brady said Trump is clearly increasing the pressure on China to come to the table and begin a new trading relationship that is fairer to the ...

Business Coca-Cola to produce the drink with marijuana
Author: 0 Coca-Cola to produce the drink with marijuana

Coke would join a rush by major alcohol makers and a cigarette company to test the cannabis market and find partners ahead of the October 17 launch of legal recreational marijuana in Canada . Heineken's Lagunitas craft-brewing label has launched a brand specializing in non-alcoholic drinks infused with THC, marijuana's active ingredient. It can be purchased at marijuana dispensaries in California.

Business Oil pushes past $80 as Iran fears mount
Author: 0 Oil pushes past $80 as Iran fears mount

Further dashing US hopes of crushing Iranian oil exports have been recent announcements from Iran's top two customers, China and India , that they would continue to import Iranian crude despite the looming threat of USA sanctions. GLOBAL oil output hit a record of 100 million barrels per day in August, but the market may tighten and prices rise as exports from Iran and Venezuela decline, the International Energy Agency said today.

Business China won’t use yuan exchange rate as trade war weapon, Li says
Author: 0 China won’t use yuan exchange rate as trade war weapon, Li says

Sohn said he believed China will retaliate against every US tariff and the tit-for-tat exchanges will escalate until the U.S.is taxing all Chinese imports - $524 billion past year. At the same time, the administration said it is still open to negotiations with China. However, some products that help computer networks operate, such as routers, will remain on the new list, the official said.

Business Rahul Gandhi Owned Kingfisher Airline By Proxy, Claims BJP
Author: 0 Rahul Gandhi Owned Kingfisher Airline By Proxy, Claims BJP

In London for the hearing of his extradition case, Vijay Mallya - who is wanted on charges of fraud and money laundering amounting to around Rs. 9,000 crore - said he met Mr Jaitley before leaving India in 2016. Mallya also said he was not "tipped off" by anyone to flee the country. "Vijay Mallya could not have left the country if the lookout notice had not been watered down.

Business Tesla shares tumble after Elon Musk smokes weed on comedian live webcast
Author: 0 Tesla shares tumble after Elon Musk smokes weed on comedian live webcast

Shares of Tesla Motors tumbled Friday as investors were rattled by the departures of two executives and a late-night interview in which chief executive Elon Musk was seen smoking marijuana . "As a result, this caused me to reconsider my future". His brother Kimbal Musk told the newspaper that the reason Mr Musk "seems to attract drama" is because he is "so transparent, so open, in a way that can come back to bite him".

Business Tesla rocked by executive departures, Elon Musk's web show
Author: 0 Tesla rocked by executive departures, Elon Musk's web show

Fox Business Network's Charlie Gasparino tweeted Friday that the Air Force "is looking into Elon Musk's pot-smoking", which is prohibited by anyone who has a government security clearance. Musk's irreverent behavior has been seen by many of his followers as refreshing. The Tesla board needs to act quickly to get a handle on the situation, said Betsy Atkins, a director at companies including Volvo Cars and Wynn Resorts Ltd.

Business Trump warns of tariffs on another $267 billion of Chinese imports
Author: 0 Trump warns of tariffs on another $267 billion of Chinese imports

Talk of the bonus $267bn tariff package comes as the White House has yet to settle all of the specifics of the planned $200bn tariff prospoals - which, as we said, would follow up that earlier $50bn package. But 2018 imports from China through July were up almost 9% over the same period of 2017, according to US Census Bureau data. Given the smaller amount of goods China imports from the United States on which it could slap duties, Beijing has vowed to hit back with unspecified ...

Business Alibaba’s co-founder Jack Ma to retire next week, say reports
Author: 0 Alibaba’s co-founder Jack Ma to retire next week, say reports

He co-founded the Chinese internet retailer in 1999 and built it into an empire now worth $420 billion and making the former English teacher China's richest man worth about $40 billion. While Ma's retirement from a formal role is a milestone, analysts and industry professionals say it is unlikely Ma's involvement will change significantly.

Business British Airways Loses Customer Payment Card Data in Breach
Author: 0 British Airways Loses Customer Payment Card Data in Breach

The airline said that the breach involved customer bookings made between August 21 and September 5. The company says its website is working properly now. Enough information was stolen to allow criminals to use credit or bank card information, Mr Cruz said. Will I have to get a new card? "Called bank and had to cancel both mine and my wife's card".

Business Oil prices higher as USA sanctions limit Iran exports
Author: 0 Oil prices higher as USA sanctions limit Iran exports

The reversal in oil prices from early July highs was triggered by easing threats of the tropical storm Gordon hitting the Gulf of Mexico. Oil prices were also under pressure as global shippers stopped loading Iranian oil in preparation for USA sanctions against Iran .

Business President Trump’s Trade Talks With Canada Carry High Stakes For Kansas
Author: 0 President Trump’s Trade Talks With Canada Carry High Stakes For Kansas

He went on to warn USA lawmakers against involving themselves into the negotiations, tweeting that should they do this he "will simply terminate NAFTA entirely and we will be far better off". "There is no political necessity to keep Canada in the new NAFTA deal". The U.S. must give six-months notice to both Canada and Mexico if it intends to pull out of the deal.

Business Buhari, AU chair, others for China-Africa Summit
Author: 0 Buhari, AU chair, others for China-Africa Summit

South Africa's President Cyril Ramaphosa , left, shakes hands with China's President Xi Jinping after his speech during the opening ceremony of the Forum on China-Africa Cooperation at the Great Hall of the People in Beijing September 3, 2018.

Business Coca-Cola to buy Costa coffee chain for $5.1 billion
Author: 0 Coca-Cola to buy Costa coffee chain for $5.1 billion

The latest acquisition is a continuation of the diversity push. The deal comes hot the heels of another big money acquisition in the sector. "A significant majority" of the proceeds will be given to the shareholders, the firm added. The British company Whitbread is selling Costa for £3.9 billion, or R74 billion. Its current owners, Whitbread, are selling the chain in order to focus on their Premier Inn hotel business .

Business Theresa May’s got moves: Reactions to Africa visit
Author: 0 Theresa May’s got moves: Reactions to Africa visit

May's comment, made to reporters as she headed to Africa to boost Britain's trade ties ahead of Brexit in March 2019, came after her finance minister Philip Hammond said last week that a no-deal departure from the European Union would damage public finances.

Business Cave diver prepares to sue Elon Musk over 'pedo' claim
Author: 0 Cave diver prepares to sue Elon Musk over 'pedo' claim

Never one to turn his back on a potential Twitter fight, Musk fired back, making a thinking-face-emoji insinuation about why Unsworth never sued him , despite being offered free legal services. East Coast-based small business owner Paul Shust, who told Reuters he uses information posted on $TSLAQ FinTwit and has an options bets against Tesla , said he was so upset by Musk's August 7 tweet that he wrote to SEC Commissioner Kara Stein that day, according to an email seen by Reuters .

Business Here’s what you need to know — Mobile hack
Author: 0 Here’s what you need to know — Mobile hack

But it's still serious business and how a company handles the situation tells you a lot about how much they value you and your business (*cough* Equifax *cough*). The breach's limited scope might also be attributable at least partially to what was described as the quick response on the part of T-Mobile's cybersecurity team.

Business Michael Cohen prosecutors granted immunity to publisher David Pecker
Author: 0 Michael Cohen prosecutors granted immunity to publisher David Pecker

On Tuesday , Cohen pleaded guilty to eight felonies, including two counts related to hush money to women who alleged affairs with Trump . Though Donald Trump has consistently claimed that he has no business interests in Russian Federation, the author of a new book alleging the president was tied to Russian Federation mobsters laundering money in his properties put that claim to the test during an MSNBC interview Friday.

Business Trump Organization financial chief Weisselberg 'given immunity'
Author: 0 Trump Organization financial chief Weisselberg 'given immunity'

Cohen pleaded guilty on Tuesday to handling hush money for Mr Trump in violation of campaign finance laws. According to prosecutors, Cohen sent an invoice to Executive 1, meaning Weisselberg, for "Payment for services rendered for the month of January and February, 2017", a payment that was really meant to reimburse Cohen for a payment to Stormy Daniels .

Business Gold prices extend gains as dollar sags after Donald Trump remarks
Author: 0 Gold prices extend gains as dollar sags after Donald Trump remarks

In currencies, the dollar came under pressure after Trump reiterated his displeasure at the Fed's rate hikes, saying the central bank should do more to help him boost the USA economy. "While Trump's displeasure for rising interest rates is nothing new, and the Fed maintains full operational independence, markets remain attentive to such comments", wrote strategists at ANZ.

Business Pepsi to buy Israel’s SodaStream for $3.2 billion
Author: 0 Pepsi to buy Israel’s SodaStream for $3.2 billion

Pepsi will pay $144 per SodaStream share in cash, representing a 10.9% premium to Friday's closing price of SodaStream's US-listed stock and a 32% premium to its 30-day average. Over the years, many users have used Sodastream only for making fizzy water, without the flavored syrups it sells. Citing financial reasons, Sodastream closed the plant in 2015 and moved to Lehavim, in southern Israel.

Author: 0 Contact lenses end up in the ocean endangering sealife

He said he thinks the research can help "start a dialogue with the producers of contact lenses and to work with them to take better care of the material flow" - and to encourage them to include instructions on their packaging to let consumers know to toss them in the trash.

Business UAE hits out at Qatar's pledge to invest in Turkey
Author: 0 UAE hits out at Qatar's pledge to invest in Turkey

The currency has recovered from record lows earlier this week. US Charge d'Affaires Jeffrey Hovelier has visited US pastor Andrew Brunson who is being held under house arrest in Izmir. Elmira Bayrasli, who teaches global affairs with a focus on Turkey at Bard College, said that Erdogan is improving relations with Europe to increase confidence in the Turkish market.

Business Turkish lira resumes fall after Trump sanctions threat
Author: 0 Turkish lira resumes fall after Trump sanctions threat

Turkey has been hit by a currency crisis fuelled by a heated row with the United States . The lira , which earlier this week traded at well over seven to the dollar, had rebounded slightly over the last three days but on Friday it lost almost five percent of its value and was quoted at 6.1 against the dollar.

Business Turkey to boycott US-made electronic products: Erdogan
Author: 0 Turkey to boycott US-made electronic products: Erdogan

Meanwhile, Turkish officials said Qatar had pledged 15 billion (£11.7 billion) of direct investments for Turkey, in a bid to help the economy. On the Milan stock exchange, shares in motorway operator Atlantia were sharply lower after a bridge collapsed on the A10 Italian motorway which the company runs.

Business Qatar to invest $15b in Turkey's financial markets and banks
Author: 0 Qatar to invest $15b in Turkey's financial markets and banks

President Donald Trump increased U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively. Turkey entered into an understanding to the Russian defense system despite being a North Atlantic Treaty Organisation ally, and has been increasingly cozying up to Russian President Vladimir Putin, alarming both the U.S.

Business Firefighter Dies Battling Ranch Fire In Lake County
Author: 0 Firefighter Dies Battling Ranch Fire In Lake County

Meanwhile, firefighters made significant progress trying to tamp down a wildfire that threatened homes and has been raging for days south of Los Angeles, officials said Saturday. On Thursday, Agriculture Secretary Sonny Perdue tweeted that he and Interior Secretary Ryan Zinke would be visiting the city of Redding Monday, where the Carr Fire is about half contained.

Business Tesla forms panel to gauge taking company private
Author: 0 Tesla forms panel to gauge taking company private

Citing two people familiar with the internal response to Musk's August 7 tweet , The Times said the Tesla CEO had sent that tweet "with little forethought". He said the Saudi sovereign fund has recently purchased nearly 5 percent of the Silicon Valley-based electric auto maker's stocks on the public markets, and that the fund's managing director "strongly expressed his support for funding a going private transaction for Tesla at this time ".

Business Turkey promises to calm market jitters over lira nosedive
Author: 0 Turkey promises to calm market jitters over lira nosedive

One such official is Mathew Palmer, who was expected to begin his new assignment soon as US Deputy Assistant Secretary of State in the Bureau of European Affairs who will be responsible, among other countries, for Turkey . "You dare to sacrifice 81-million Turkey for a priest who is linked to terror groups?" American pastor Andrew Brunson , if convicted, faces a jail term of 35 years.

Business United States tariff hike on Turkey fails to make economic sense
Author: 0 United States tariff hike on Turkey fails to make economic sense

Relations with Washington worsened further Friday when Trump tweeted that he had authorized a 20 percent duty on aluminium and 50 percent duty on steel. U.S. President Donald Trump introduced a round of sanctions on August 1, preventing the Turkish justice an interior ministries from doing business with U.S.

Business Giant Saudi fund emerges as backer of bid for Elon Musk's Tesla
Author: 0 Giant Saudi fund emerges as backer of bid for Elon Musk's Tesla

Following Musk's bold announcement last week that he would take the company private at $420 per share, Tesla's stock initially shot up 11 percent. Once those discussions are complete, Musk will bring a proposal to Tesla's board. He added that most capital for the deal would come from equity and it would not be "wise" to burden the company with added debt.

Business US Announces Latest China Tariffs
Author: 0 US Announces Latest China Tariffs

Beijing has released an additional list of $60 billion worth of U.S. products it would start taxing if the White House proceeds with the further escalation. trade deficit with that country. The bad news is the trade war fears in China are escalating. Companies are already adjusting to the new trade barriers, and shifting supply chains away from China.

Business Turkish lira tumbles to fresh low
Author: 0 Turkish lira tumbles to fresh low

The lira has always been falling on worries about Mr Erdogan's influence over monetary policy and worsening relations with the United States. The lira extended its losses to trade at 6.2 to the dollar, a loss of 11.5 percent on Friday.

Business China will make good on threat to match United States tariffs
Author: 0 China will make good on threat to match United States tariffs

In July, the USA imposed 25 percent tariffs on United States dollars 34 billion worth of Chinese imports, and Beijing retaliated with a similar move. Trump has boasted that trade wars are "easy to win" and warned he would hit virtually all Chinese imports if Beijing does not back down and take steps to reduce its $335bn USA trade deficit.

Business Tesla board confirms Elon Musk's buyout plans
Author: 0 Tesla board confirms Elon Musk's buyout plans

The board said only that Musk had "addressed the funding for this to occur". Tesla posted a new blog to its site , essentially a copy-and-paste of an email Musk sent to Tesla's employees regarding taking the company private again. oh boy. 'Basically, I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, ' Musk wrote .

Author: 0 Trump going ahead with taxes on $16B in Chinese imports

Washington has long criticized China's trade surplus with the United States and has demanded Beijing cut it. Earlier this month, China included for the first time liquefied natural gas (LNG) in its list of goods up for a potential 25-percent import tariff, should the United States impose additional tariffs on Chinese imports.

Business Elon Musk 'considering' taking Tesla private, tweet says
Author: 0 Elon Musk 'considering' taking Tesla private, tweet says

Elon Musk sent shares of Tesla into a frenzy on Tuesday, when the billionaire inventor wrote in an unconfirmed tweet that he's considering taking the auto company private, and has already secured the funding - language he should be sure to follow through on, according to Scott Galloway.

Business Trump Raises Proposed Chinese Tariffs to 25%
Author: 0 Trump Raises Proposed Chinese Tariffs to 25%

He is also betting that the US could wield more leverage because Beijing cannot match the tariffs proposed on $200 billion in Chinese goods. China has been quick to retaliate against most U.S. - United States dollars rises as White House ups ante in US-China trade spat. At a campaign rally in Florida Tuesday night, Mr. Trump said China's response targeting US farmers has been "not nice".

Business Apple (AAPL): $1 Trillion Is Just the Beginning
Author: 0 Apple (AAPL): $1 Trillion Is Just the Beginning

The share price jumped by more than 8 percent this week after Apple reported impressive quarterly earnings on Tuesday, driven largely by strong sales for high-price iPhones. Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30. Those changes are giving Apple a fundamentally different financial look, and investors haven't yet been forced to confront how much this altered Apple should be worth.

Business OH to have a sales-tax holiday
Author: 0 OH to have a sales-tax holiday

The Sales Tax Holiday overall is estimated to save Wisconsin families a total of $14.8 million from August 1 - 5, 2018. This year, the state of Louisiana did not offer a tax free weekend which created extra shoppers heading down to MS to make their purchases.

Business Apple hits historic $1-trillion stock market valuation
Author: 0 Apple hits historic $1-trillion stock market valuation

The peak reached Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1. The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000-percent increase during the same nearly four decades.

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