Business

Business Rupee Falls Sharply To Close At Record Low Against Dollar
Author: 0 Rupee Falls Sharply To Close At Record Low Against Dollar

The Indian rupee on Tuesday morning fell to a record low of 70 against the U.S. dollar. The US dollar has gained strength as experts fear that the economic crisis in Turkey could soon spill over its impact on global economies. Yesterday, the rupee had plunged by Rs 1.08, or 1.57 per cent, to a record low of 69.91 against the U.S. currency amid fears that Turkish currency turmoil could turn out into global financial crisis.

Business Saudi Arabia's PIF has shown no interest in bankrolling Tesla buyout
Author: 0 Saudi Arabia's PIF has shown no interest in bankrolling Tesla buyout

Discussions began before the controversial 7 August tweet by Musk , who is Tesla's co-founder and chief executive officer, saying he was weighing a plan to take the company private . SEC enforcement attorneys in the San Francisco office were already gathering general information about Tesla's public pronouncements on manufacturing goals and sales targets, according to the people who asked not to be named because the review is private.

Business Elon Musk: Meeting with Saudis prompted plan to take Tesla private
Author: 0 Elon Musk: Meeting with Saudis prompted plan to take Tesla private

Saudi Arabia is exploring how it could bankroll Elon Musk's ambitious plan to take Tesla private, as burnt short-sellers sue the electric vehicle entrepreneur over his bombshell tweet last week. Musk said he has continued to communicate with the sovereign fund's managing director since last week, and that the managing director has "expressed support for proceeding subject to financial and other due diligence".

Business USA to impose new sanctions on Russian Federation for nerve attack in UK
Author: 0 USA to impose new sanctions on Russian Federation for nerve attack in UK

Senior lawmaker Konstantin Kosachev, the chairman of the foreign affairs committee in the upper house of the Russian parliament, accused the US of behaving like a 'police state, threatening and torturing a suspect to get evidence'. Earlier in the day the Kremlin hit back at the "categorically unacceptable" measures, describing them as "absolutely illegal". "The administration is rightly acting to uphold global bans on the use of chemical weapons", said Ed Royce, R-Calif., chairman of the ...

Business United States crude stockpiles fall less than expected
Author: 0 United States crude stockpiles fall less than expected

The Turkish lira fell to a new record low against the dollar amid a dispute with the USA government, while the Russian ruble also dropped after US sanctions on the country over its alleged involvement in poisonings in Britain. Concerns over recent figures from Chinese crude oil exports have been weighing on traders' sentiment , although the descent should be somewhat tempered by rising speculations of further USA sanctions against Iran.

Business Elon Musk Talked With SoftBank About Tesla Investment in 2017
Author: 0 Elon Musk Talked With SoftBank About Tesla Investment in 2017

In a note to clients, Morgan Stanley analyst Adam Jonas said Musk's strategy to reveal the offer on Twitter might end up costing him in higher costs and financial risk. Tesla is a legendary cash-burner, with roughly $10 billion in debts and $2 billion in reserves, and Musk would probably need in the tens of billions of dollars to buy out shareholders at the right price.

Business Trump behaves like a street-fighter in trade policy: Chinese media
Author: 0 Trump behaves like a street-fighter in trade policy: Chinese media

The latest issue from the global edition of the ruling Communist Party's People's Daily newspaper called out Trump , stating that he was starring in his very own "street fighter-style deceitful drama of extortion and intimidation". One of the biggest targets of the China tariffs has been farmers; Beijing is the biggest buyer of USA soybeans, importing more than $12.4 billion worth of the oil seed in 2017, according to the Peterson Institute for International Economics.

Author: 0 Trump administration announces $22b in fresh tariffs on China

A truck drives past shipping containers at a port in Lianyungang, Jiangsu province January 23, 2015. Trump, who has boasted that trade wars are "easy to win", has threatened to ramp up the pressure and slap tariffs on virtually all of China's exports to the United States if Beijing does not back down and take steps to reduce the $335 billion USA trade deficit with that country.

Business Dead fetus found on plane at LaGuardia Airport, reports say
Author: 0 Dead fetus found on plane at LaGuardia Airport, reports say

The fetus was believed to be five or six months along. But at around 6 a.m. Tuesday morning, the cleaning crew found the fetus hidden inside the toilet under sheets of toilet paper. Details will not be released until after the investigation is complete, the statement said. A statement from LaGuardia Airport said flights at Terminal B may experience delays due to an "out of service aircraft".

Business Oil up; traders cite industry report of crude build at Cushing
Author: 0 Oil up; traders cite industry report of crude build at Cushing

USA crude futures slumped last month by the most in two years, and traded just below $68 a barrel yesterday on the New York Mercantile Exchange. USA crude oil refinery inputs averaged 17.48 million barrels per day during last week, which was 195,000 barrels per day higher than the previous week's average.

Business China says fully prepared for United States threats on escalating trade war
Author: 0 China says fully prepared for United States threats on escalating trade war

The White House on Wednesday proposed a 25 percent tariff on $200 billion worth of Chinese goods, more than double the 10 percent tax rate originally planned. economy based on recent data. China upped the ante on Thursday in response to the Trump administration's latest move. "First, I suggest the US take the right attitude and not to try to blackmail China as it doesn't work", spokesman Geng Shuang said in response to a question.

Business Missouri tax-free weekend 2018: Here’s what you need to know to save
Author: 0 Missouri tax-free weekend 2018: Here’s what you need to know to save

Those who live in Loudoun or in other parts of Northern Virginia, where the sales tax is 6 percent, will save even more. You can also get the qualified items online, tax free. If an item of clothing qualifies for the exemption under the "sales tax holiday ", then all adjustment charges associated with that sale are exempt.

Business 350+ sickened after eating at Powell Chipotle
Author: 0 350+ sickened after eating at Powell Chipotle

Records show local health officials inspected the location July 26 and found violations related to food not being held at proper temperatures, Business Insider said. You'll recall that the chain experienced a series of food-poisoning outbreaks that torpedoed its year in 2015 , closed a store in 2016 over norovirus concerns , and had another significant norovirus outbreak in 2017 at an L.A.

Business Apple is first public company worth $1 trillion
Author: 0 Apple is first public company worth $1 trillion

The company's stock was at $205.98, up 2.2 percent near 1555 GMT. Although many have doubted Apple's staying power over the years, unlike many hardware makers the company has ridden the elegance and functionality of its devices. The stock has been rising since Tuesday when it reported better than expected results for the three months to June. Since 1980, IBM, Exxon Mobil, General Electric and Microsoft have also alternated as the largest publicly listed U.S.

Business Facebook loses $130 bn in just two hour, Zuckerberg $17 bn
Author: 0 Facebook loses $130 bn in just two hour, Zuckerberg $17 bn

As an example of its new strategy, Wehner said Facebook will put more development muscle behind the company's Stories feature. While the company posted an earnings beat, revenue was below analysts' guidance as the company raked in $13.23 billion in sales, below the $13.23 billion that analysts were calling for.

Business Trump and European Union chief Jean-Claude Juncker agree to ease trade tensions
Author: 0 Trump and European Union chief Jean-Claude Juncker agree to ease trade tensions

Trump said he expected "something very positive to take place" during the White House talks - after sending a series of tweets blasting Europe for unfair treatment of United States exports. "It is not the European Commission that buys, but the industry, and traders who look for goods where they are the least expensive for their financial interests", one European soybean trader said.

Business Why Trump’s tariffs could actually help farmers
Author: 0 Why Trump’s tariffs could actually help farmers

The president, ahead of trade talks with European Union representatives, argued that the levies would force other countries to come to the table. "We will also work to reduce barriers that increase trade in services, chemicals, pharmaceuticals, medical products, as well as soybeans", said Trump.

Business Trump administration plans to help farmers hurt by global trade tensions
Author: 0 Trump administration plans to help farmers hurt by global trade tensions

While promoting the global negations, Mr. Trump praised his hard-line trade strategy, saying slapping tariffs if the U.S.is treated unfairly is "simple". President Trump's tariff threats against China, Canada, Mexico and the European Union prompted immediate threats of retaliation. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that past year totalled $335 billion.

Business AT&T Time Warner merger to be appealed
Author: 0 AT&T Time Warner merger to be appealed

The two companies closed the deal days later. Among 19 analysts covering AT&T Inc ( NYSE:T ), 6 have Buy rating, 2 Sell and 11 Hold. President Donald Trump , on the campaign trail, repeatedly expressed reservations about the deal, which includes ownership of CNN , the news network that frequently draws Trump's ire.

Business Comcast fires new salvo in £26bn battle for Sky
Author: 0 Comcast fires new salvo in £26bn battle for Sky

Comcast and Walt Disney ( DIS.N ) are locked in a separate $70 billion-plus battle to buy most of Fox's assets, which would include Sky, and Disney is backing Murdoch in his pursuit of the British company. Fox's long-running pursuit for all of Sky has been plagued by United Kingdom government fears over media plurality and broadcasting standards and the influence of Australian-born USA citizen Murdoch.

Business Theresa May urges Tory backbenchers to keep Jeremy Corbyn out of power
Author: 0 Theresa May urges Tory backbenchers to keep Jeremy Corbyn out of power

British Prime Minister Theresa May has appointed Jeremy Hunt as the new Foreign Secretary , following Boris Johnson's resignation from the job amid deep divisions over Britain's departure from the European Union (EU) or Brexit . Downing Street made clear the PM would fight any attempt to oust her by rebel MPs. British Prime Minister Theresa May won support from many of her ministers, including a leading eurosceptic, on Tuesday after two top cabinet members quit saying her Brexit ...

Business Iran tells Trump to stop tweeting about oil prices
Author: 0 Iran tells Trump to stop tweeting about oil prices

In a follow-up Twitter message on July 4, the president said that "the United States defends many of those countries for very little $´s". "This must be a two way street, REDUCE PRICING NOW!" Trump's scramble to slow down the oil rally comes four months ahead of U.S.

Business Trump's Tweet on Deal With Saudi King Makes Oil Prices Plummet
Author: 0 Trump's Tweet on Deal With Saudi King Makes Oil Prices Plummet

Iran is looking at ways to keep exporting oil after US President Donald Trump's administration threatened to impose sanctions on Iran's business partners if they don't cut Iranian oil imports to "zero" by November 4, in an attempt to further isolate Tehran politically and economically.

Author: 0 China presses Europe for anti-U.S. alliance on trade

He has slapped tariffs on imported steel and aluminum - action that has drawn retaliatory tariffs from US allies like Canada, Mexico and the European Union . While many other issues are dominating the headlines - the Supreme Court, immigration, and developments in the Russian Federation investigation - the slow burn of the United States' looming trade war may become one of the most significant stories in the months to come.

Business Amazon Prime Day Set For July 16
Author: 0 Amazon Prime Day Set For July 16

Here are all the details! Every day leading up to July 16, members will discover exclusive offers and deals . Amazon ( AMZN ) on Tuesday said it will start its fourth annual "Amazon Prime Day " on July 16 - an online event that the company says previous year was the busiest shopping day in its history.

Business Basketball: LeBron's Lakers start to take shape as big banner exits Cleveland
Author: 0 Basketball: LeBron's Lakers start to take shape as big banner exits Cleveland

James will join a Lakers team which has missed the playoffs for five consecutive seasons, the longest streak in franchise history. The Lakers were already viewed as a heavy contender to sign James this offseason, and according to Sports Illustrated's Lee Jenkins , James and his agent and advisors had been speaking at length about his options.

Business Iran, other dissenters complicate OPEC oil output boost
Author: 0 Iran, other dissenters complicate OPEC oil output boost

With output in Russian Federation rising back above 11-million barrels a day in June, and Saudi production climbing back above 10-million barrels a day, supplies from the top three producers are increasing. According to the ministry, Pradhan is scheduled to visit Vienna on June 20-21 to participate in the OPEC global seminar and will discuss these key issues with OPEC Secretary General Sanusi Barkindo and ministers from the 13-nation cartel.

Business Trump berates Democrats as he begs for their votes on immigration bill
Author: 0 Trump berates Democrats as he begs for their votes on immigration bill

The mothers themselves could not be contacted because access to detained immigrants is hard. The assessment of Trump's changes isn't much different at the White House, where officials were caught off guard by his sudden shifts this week on immigration - including his reversal in signing an executive order to halt the separation of immigrant families at the border.

Business President Trump continues criticism of Harley Davidson on Twitter
Author: 0 President Trump continues criticism of Harley Davidson on Twitter

The American motorcycle maker sells almost 40,000 new motorcycles a year in Europe, which accounts for 16 percent of the company's overall sales and is the biggest market for it outside of the US. To avoid this cost, the company will shift to countries where there are lower or no tariffs. The EU sales make up nearly 16.4 percent of Harley-Davidson's worldwide sales.

Author: 0 Opec to tackle thorny oil deal with tentative production lift

If all Opec members produced as much as they were allowed under the deal, Opec output would in theory rise by about 740,000 barrels per day, based on Reuters estimates of the group's production in May. The convoluted plan shows the difficulty Saudi Arabia has in bridging the gap between Russian Federation, which has pushed for a larger increase, and Iran.

Business Oil prices rise ahead of OPEC, China tariffs loom over United States prices
Author: 0 Oil prices rise ahead of OPEC, China tariffs loom over United States prices

Conversely, prices were supported by collapsing production from Venezuela and anticipated resistance from other OPEC members to increase production at the June 22 meeting in Vienna in Austria. Greg McKenna, chief market strategist at futures brokerage AxiTrader said there would likely be oil price volatility in the week ahead of the meeting.

Author: 0 Audi CEO arrested in Germany over diesel scandal

Stadler is the most senior Volkswagen to be arrested over the so-called Dieselgate that came to light in 2015. The Munich prosecutors said Stadler's arrest was not made at the behest of USA authorities. "The suspect has been seen by a judge, who has ordered him to be remanded in custody", the prosecutors' office said in a statement, published by Reuters .

Business China's ZTE Reportedly Strikes Preliminary Deal To Lift U.S. Ban
Author: 0 China's ZTE Reportedly Strikes Preliminary Deal To Lift U.S. Ban

He said the Commerce Department is fining the company $1.4 billion, including $400 million in escrow, on top of a $1 billion US penalty a year ago. "We will closely monitor ZTE's behavior", Ross said in a statement. ZTE's failure to comply with these terms triggered the suspended denial order that prohibits American companies from doing business with the Shenzhen-based company, plunging it into crisis.

Business Porsche's Electric Mission E Becomes the Taycan
Author: 0 Porsche's Electric Mission E Becomes the Taycan

We'll have more , including a first drive of the Taycan , as soon as we get it. Taycan , roughly translated as " lively young horse ", references the imagery at the heart of the Porsche crest, which features a leaping horse. In addition to the new name, Porsche doubled down its investment in electrification Friday. This performance is in addition to a continuous power level that is unprecedented among electric vehicles: Multiple jump starts are possible in succession without loss of ...

Business A Move to Vermont Could Net You $10K, but There's a Catch
Author: 0 A Move to Vermont Could Net You $10K, but There's a Catch

To be eligible, a worker must be a full-time employee for an out-of-state business, work primarily from home or a co-working space in Vermont, and become a full-time resident on or after January 1, 2019. In March, Gov. Scott and the Vermont Department of Tourism and Marketing announced the Stay-to-Stay initiative, a program created to help tourists permanently relocate to the state.

Business Italian national pride on display as political crisis ends
Author: 0 Italian national pride on display as political crisis ends

The new government must now win confidence votes in parliament, expected to happen next week, Ansa news agency reported. The coalition deal turns the page on months of political turmoil following an inconclusive election in March which had raised jitters among Italy's European partners.

Business Where to get free donuts on National Donut Day 2018
Author: 0 Where to get free donuts on National Donut Day 2018

Krispy Kreme: The chain offers each customer a choice of any free doughnut , no purchase required. Atlanta's own boutique doughnut shop located in Brookhaven, Bon Glaze , will also be offering a free sugary confection with any purchase.

Business Specter of trade war after US tariffs on EU, Mexico, Canada
Author: 0 Specter of trade war after US tariffs on EU, Mexico, Canada

Commerce Secretary Wilbur Ross said starting Friday, steel and aluminuim products from will be subject to the same tariffs as most other nations when imported into the USA. Steel and aluminum stocks surged initially, but pared gains. Ross said that Argentina, Australia and Brazil will continue to be exempt from the tariffs though there have been "limitations" implemented "on the volume [of steel and aluminum] they can ship to the U.S".

Business Cheaper petrol on the way?
Author: 0 Cheaper petrol on the way?

Futures are headed for a fifth straight session of declines, the longest such stretch since February 9. Monday May 28 saw another price tumble for oil prices, after crashing down last Friday. India and South Korea are the next biggest buyers in Asia, each lifting 6 million to 7 million barrels in June, sources tracking USA crude sales to Asia said.

1 2