Markets

Markets RBI increases key rate to 6.5% on inflation worries
Author: 0 RBI increases key rate to 6.5% on inflation worries

RBI in its policy statement has said that the risks to its 4 per cent inflation outlook has increased since its last meeting in June on account of rising trade tensions. Liz Cameron, the chief executive of the Scottish Chambers of Commerce, said the raise was "disappointing" given the lack of hard evidence about the economy and Brexit uncertainty.

Markets Tighter Supply Outlook Shores Up Crude Oil Prices to $75
Author: 0 Tighter Supply Outlook Shores Up Crude Oil Prices to $75

Brent fell $5.46 a barrel, while US crude ended the day down $3.73. "On the other hand, the recent decline in global stocks will make prices more sensitive to any geopolitical risk, which will keep prices from falling significantly below current levels".

Markets What an interest rate rise means for you
Author: 0 What an interest rate rise means for you

The Monetary Policy Committee of the Reserve Bank of India on Wednesday made a decision to increase the repo rate by 25 basis points to 6.5 per cent, as it remained concerned about rising inflation. The projected inflation rate is above its targeted comfort level of 4 per cent. But it will offer some relief to savers , who have seen their nest eggs decimated by above-target inflation and negligible returns.

Markets Dozens Sickened After Eating At Chipotle In Powell
Author: 0 Dozens Sickened After Eating At Chipotle In Powell

Health officials said people who said they ate at the restaurant complained of symptoms ranging from nausea, vomiting and diarrhea after eating at the restaurant between Thursday and Monday . "A follow up will occur in roughly 3 weeks due to cooling of lettuce", inspection records stated. Diversified Restaurant is trading at a lower price-to-earnings ratio than Chipotle Mexican Grill , indicating that it is now the more affordable of the two stocks.

Markets This Weekend's Tax Holiday is for More Than School Supplies
Author: 0 This Weekend's Tax Holiday is for More Than School Supplies

Ohioans who shop online will have to place their order during the tax-free weekend period. Today is the last day for Tax Free Weekend in Tennessee and stores like Target are offering all school supplies free of tax anything from pens pencils notebooks you name it, it's all tax free.

Markets Apple Becomes First American Public Company to Surpass $1 Trillion in Value
Author: 0 Apple Becomes First American Public Company to Surpass $1 Trillion in Value

The milestone comes a day after Apple reported blockbuster quarterly earnings . The iPhone maker achieved that big number on Thursday when the stock passed $207.04 a share. UPDATE: Aug. 2, 2018, 11:52 a.m. EDT Apple is officially the first company to hit $1 trillion market cap, according to CNBC. "Apple's $1 trillion cap is equal to about 5 percent of the total gross domestic product of the United States in 2018", said David Kass, professor of finance at the University of Maryland.

Author: 0 Trump administration confirms plan to raise China import tariff to 25 percent

Weeks after the White House said it wanted to slap 10% tariffs on an additional $200 billion worth of Chinese imports, President Donald Trump's advisors are reportedly urging him to make it 25% instead. against " blackmailing and pressuring ", and vowed to hit back if its hawkish partner takes further steps to hinder mutual trade. Two Trump administration officials told reporters on a conference call that Mr Trump remains open to communications with Beijing and that through informal ...

Author: 0 Google’s new Search app: Designed and censored in California, made for China

In a move human rights groups are warning could have grave implications for internet freedom across the globe, Google is reportedly preparing to launch a "censored version" of its search engine in China that will automatically blacklist terms and websites related to peaceful dissent, free expression, and democracy.

Markets Tesla posts record $717 million net loss in second quarter
Author: 0 Tesla posts record $717 million net loss in second quarter

He also had complained about a "dry" question from RBC Capital Markets' Joseph Spak. "I'd like to apologize for being impolite on the prior call. I think there's no excuse for bad manners". "We believe that the majority of Tesla's production lines will be ready to produce at this rate by end of this year, but we will still have to increase capacity in certain places and we will need our suppliers to meet this as well", Tesla said in its investor communications.

Markets Tokyo stocks close lower as BoJ meets 30 July 2018
Author: 0 Tokyo stocks close lower as BoJ meets 30 July 2018

Federal Reserve's two-day monetary policy meeting on Wednesday. The pound dipped 0.05 percent to $1.3102. "I think there was some expectation leading up to this meeting that we could see a more meaningful shift in BOJ policy, particularly with respect to their huge asset purchase", said Esiner.

Markets Trump imposes sanctions over Turkey's detaining of minister
Author: 0 Trump imposes sanctions over Turkey's detaining of minister

Turkey President Recep Tayyip Erdogan earlier warned the US not to impose sanctions against his government. The penalties announced Wednesday, which aim to punish the chiefs of Turkey's ministries of justice and the interior, mark a significant escalation in the recent frictions between the two key North Atlantic Treaty Organisation allies.

Author: 0 Trader Joe’s and Other Chains Involved in Massive Food Recall

Products include roast beef wraps, chicken Caesar wraps, chef salads and other packaged offerings. The USDA did not respond to a request for comment. "No Fresh Express products offered for sale at retail grocery stores are recalled". Those who are infected might also experience loss of appetite, weight loss, stomach cramps or pain, nausea, gas and fatigue.

Author: 0 Flipkart unveils exclusive Samsung Galaxy On8 - a Galaxy J8 with a discount

Samsung , the world's biggest maker of memory chips, has weathered a series of setbacks, including an embarrassing global recall of its Galaxy Note 7 due to exploding batteries in 2016. Samsung is scheduled to launch a new Note early next month. On the other hand, the company's operating profit is reported to be KRW 14.87 trillion.

Markets British voters want referendum on final Brexit deal — BREXIT
Author: 0 British voters want referendum on final Brexit deal — BREXIT

As before the referendum, when President of the European Council Donald Tusk warned Brits that voting to Leave could mean "the end of Western political civilisation" and David Cameron asked then-U.S. The referendum was supported by 58 percent of Labour voters, 67 percent of Liberal Democrat voters and 21 percent of Conservative voters surveyed by YouGov.

Author: 0 Good news for UAE-based NRIs after rate hike in India

One basis point is a hundredth of a percentage point. The six-member MPC, headed by RBI Governor Urjit Patel , also hiked the reverse repo rate to 6.0 per cent. The central bank expects inflation to edge higher to 5% in the first quarter of next fiscal year. In June, the RBI had raised the repo rate by 0.25 percent to 6.25 percent.

Markets Apple in touching distance of $US1 trillion mark after profits jump
Author: 0 Apple in touching distance of $US1 trillion mark after profits jump

Of course, the iPhone still pulled down almost $30 billion in total revenue, but Services has rapidly grown from a minor segment of Apple's business to a major component. Finally, while Cook expressed opposition to new trade tariffs between the USA and China , noting how they're anti-consumer, he said that Apple is continuing to see double digit growth in China along with other major markets.

Markets China tempts Britain with free trade, says door to US talks open
Author: 0 China tempts Britain with free trade, says door to US talks open

While relationships between the two countries have improved, Japan's occupation of China up until the 1940's is still a somewhat touchy subject. "That is a bad mistake to make", he told his counterpart, Chinese Foreign Minister Wang Yi. and the two countries should resolve their issues under the World Trade Organization (WTO) framework rather than in accordance with U.S. law. Britain's new foreign secretary Jeremy Hunt's foray into worldwide politics is off to an embarrassing start.

Markets Harley Davidson forays into entry-level 250-500cc class motorcycles
Author: 0 Harley Davidson forays into entry-level 250-500cc class motorcycles

Introducing a new modular 500cc to 1250cc middleweight platform of motorcycles that spans three distinct product spaces and four displacements, starting with the company's first Adventure Touring motorcycle, the Harley-Davidson Pan America 1250, a 1250cc Custom model and a 975cc Streetfighter model, all of which are planned to launch beginning in 2020.

Markets Elon Musk's Tesla Surfboards Are Selling on eBay for $5,000
Author: 0 Elon Musk's Tesla Surfboards Are Selling on eBay for $5,000

Tesla was seeking a total of $1,500 for each of the surfboards . Branded just like the cars in sleek black and red with the electric auto company's unmistakable logo, the $1,500 item was available Saturday until all 200 limited edition boards flew off the virtual shelves and were gone in less than a day.

Markets McDonald's to offer
Author: 0 McDonald's to offer "Mac Coins"

Many people remember all the ingredients to the McDonald's burger because of its ad campaign saying "two all-beef patties, special sauce, lettuce, cheese, pickles and onions on a sesame seed bun". In 1986, The Economist started using the Big Mac Index as a way of measuring the purchasing power of global currency. The coins will come in five designs, each of which commemorates one of the sandwich's five decades.

Markets Juncker deal has nothing to do with free trade: German MP
Author: 0 Juncker deal has nothing to do with free trade: German MP

But in response to Trump's tariffs, China retaliated with a 25% tariff on soybeans. "We should talk about reducing tariffs instead of increasing them", Mr Juncker said, as Mr Trump nodded. And we don't want this, we don't want this to happen, we didn't ask for this. At home, heavy outflows could trigger a crisis of confidence in China's domestic financial system, which is already struggling under an economy-wide debt load equal to around 250 per cent of the country's gross domestic product.

Markets Facebook is sued after stock plunge shocked market
Author: 0 Facebook is sued after stock plunge shocked market

The lawsuit is designed for class-action status and seeks unspecified damages. The estimated losses totaled at over $120 billion which is almost four times the entire market capital of Twitter . The fall came after the social media giant revealed three million European users had closed their accounts since the Cambridge Analytica data scandal.

Markets Vague promises help EU's Jean-Claude Juncker ease United States trade tension
Author: 0 Vague promises help EU's Jean-Claude Juncker ease United States trade tension

Trump and European Commissioner Jean-Claude Juncker met Wednesday at the White House and agreed to a wide-ranging framework to resolve trade disputes, with the aim of bringing tariffs down to zero eventually. America's farmers deserve fair access to global markets, not a temporary influx of government funds. Trump told CBS News' Jeff Glor earlier this month that he considers the European Union a "foe" because of how the collection of nations has treated the USA on trade.

Markets Japan's oldest person, Chiyo Miyako, dies at 117
Author: 0 Japan's oldest person, Chiyo Miyako, dies at 117

Mayako's family said they called her " the goddess ". It's not now clear what caused Miyako's death. Her heart stopped beating on July 22 in Yokohama at the age of 117 years. Guinness has three longevity categories in its record books: the oldest person living (male ), oldest person living (female ) and oldest person living .

Markets Vladimir Putin invites Donald Trump to Russian Federation
Author: 0 Vladimir Putin invites Donald Trump to Russian Federation

Putin said Russian Federation has no plans to reject the United States dollar. "I am ready for this. But there would need to be the appropriate conditions", Putin said. Trump and Putin could also meet at other worldwide events, the Russian leader said without naming them. Mr Putin did not detail what "conditions" would have to be met.

Markets World shares mostly higher, defying Facebook-led tech slump
Author: 0 World shares mostly higher, defying Facebook-led tech slump

The Dow Jones Industrial Average . DJI rose 54.45 points, or 0.21 percent, at the open to 25,468.55. At 8:39 a.m. ET, Nasdaq 100 e-minis were down 51.75 points, or 0.69 percent and S&P 500 e-minis were down 4 points, or 0.14 percent. Its second-quarter earnings per share and revenue were both higher than estimates. "Investors are looking to see whether it's related to this specific company, is it idiosyncratic, or related to broader issues".

Markets Trump falsely claims historic turnaround
Author: 0 Trump falsely claims historic turnaround

A measure of domestic demand surged at a 4.3% rate in the second quarter. "Yet when I say we're going to tax them everyone goes insane and says it's not free trade", he added. Council of Economic Advisers Chairman Kevin Hassett on the state of the USA economy and the trade truce with Europe. The stimulus is expected to fade sometime next year.

Markets I open up Europe for United States farmers
Author: 0 I open up Europe for United States farmers

Trump later tweeted that his meeting with Juncker had "great warmth", adding: 'A breakthrough has been quickly made that nobody thought possible!' And it didn't begin to address other Trump-led trade conflicts, notably with China, that have already hurt many USA companies.

Markets Mark Zuckerberg just lost almost $16 billion in one day
Author: 0 Mark Zuckerberg just lost almost $16 billion in one day

Facebook saw slower daily active user growth that grew by only 22 million, which is pretty bad considering the last time Facebook saw these numbers was all the way back in 2011. On a conference call with analysts, Zuckerberg chalked the decline up to the implementation of the EU's General Data Protection Regulation , or GDPR.

Markets Twitter to prioritize fixing platform over user growth, shares plunge
Author: 0 Twitter to prioritize fixing platform over user growth, shares plunge

Twitter shares tumbled 19 percent to $34.75 in afternoon trading, marking their biggest one-day drop since October 6, 2016. Twitter stock has almost doubled this year as the company showed signs of a business turnaround, its first ever streak of profitable quarters and renewed growth in users and ad sales.

Markets SEC rejects Winklevoss's Bitcoin ETF bid
Author: 0 SEC rejects Winklevoss's Bitcoin ETF bid

In addition, San Francisco-based asset management company Bitwise recently filed for "the first publicly-offered cryptocurrency index exchange-traded fund (ETF)". To date, no cryptocurrency-based ETFs have been approved, making this a major hurdle on the way to widespread adoption by Wall Street. In the past, the SEC disapproved another application made by the twins known as 'Winklevoss Bitcoin Trust.' Later in June, the group chose to submit a rule change.

Markets Trump opened to visit Moscow after invitation from Putin
Author: 0 Trump opened to visit Moscow after invitation from Putin

President Trump's war on the media escalated when a reporter was banned for asking "inappropriate questions". "We've accomplished an economic turnaround of historic proportions", Trump told reporters during hastily arranged remarks on the South Lawn of the White House , where he was joined by Vice-President Mike Pence and flanked by members of his economic team.

Author: 0 Putin ready to visit Washington for new summit, invites Trump to Moscow

The Interfax news agency said he expressed readiness to invite Trump. Mr Putin was speaking during a trip to Johannesburg, South Africa, where he suggested that sanctions against his country have turned currency "into a weapon" - while pointing out that the Chinese yuan is growing in influence.

Markets Amazon’s quarterly profits soar to $2.5 billion
Author: 0 Amazon’s quarterly profits soar to $2.5 billion

Davidson who tracks the company. Advertising is helping Amazon hit the new levels of profitability. Investors are starting to take notice. Amazon's stock climbed 3.1 percent in after-hours trading. Amazon , which bought Whole Foods a year ago, recently rolled out extra discounts for its Prime members at its US stores. Amazon uses that fee to help pay for the growing cost of shipping packages, as well as the cost of building out members-only digital offerings like original films, ...

Markets EU Trade
Author: 0 EU Trade "Deal" Is Trump's Most Compelling Fiction Yet

US President Donald Trump's agreement to hold off from on tariffs on EU cars and start fresh negotiations on trade barriers was a "major concession", President of the European Commission , Jean-Claude Juncker, said on Wednesday. "Congrats to @ JunckerEU , @ realDonaldTrump: Breakthrough achieved that can avoid trade war & save millions of jobs!" "Great for global economy", he tweeted late on Wednesday.