Markets

Markets NAFTA talks make progress; U.S., Canadian officials to work into night
Author: 0 NAFTA talks make progress; U.S., Canadian officials to work into night

Faced with an unpredictable US president ready to strike on Twitter, Trudeau said the dispute resolution mechanism in Chapter 19 ensures trade rules are followed. Mulroney orchestrated the original Canada-Free Trade Agreement in 1988, which evolved into the current NAFTA agreement. But on the sidelines, President Trump and Prime Minister Justin Trudeau have dug into seemingly irreconcilable positions.

Markets Economic Crisis: South Africa enters recession for first time since 2009
Author: 0 Economic Crisis: South Africa enters recession for first time since 2009

Manufacturing also contracted for a second quarter in a row, down 0.3 percent. " We are in a recession ", Statistician-General Risenga Maluleke said, commenting on the reports that reflect two consecutive quarters of contraction. Stats SA announced that the country's real gross domestic product had decreased by 0.7% in the second quarter of 2018. "We understand the impatience of South Africans because we want things delivered as of yesterday‚" said Nene.

Markets JD.com Founder Richard Liu Has Been Accused of Rape, Report Says
Author: 0 JD.com Founder Richard Liu Has Been Accused of Rape, Report Says

A Chinese e-commerce giant says its billionaire founder, Liu Qiangdong, has returned to China after his arrest in the USA on suspicion of criminal sexual conduct. Why it's important: Under Minnesota law, Liu could face up to 30 years for the alleged crime. China does not have an extradition treaty with the United States.

Markets Oil prices rise, and Barclays sharply revises its forecasts
Author: 0 Oil prices rise, and Barclays sharply revises its forecasts

Japan says it is pressing the U.S. for exemptions from new sanctions to continue oil imports from Iran . "Prices yesterday rose in anticipation that the storm could inflict some damage on the production and refining sector, but after all was said and done we lost a little bit of production and the refineries in MS and Louisiana continued to run as Gordon made landfall", said Andrew Lipow, president of Lipow Oil Associates.

Markets In primary stunner, Pressley unseats incumbent Rep. Capuano
Author: 0 In primary stunner, Pressley unseats incumbent Rep. Capuano

Like Ms. Ocasio-Cortez's challenge to Rep. Joe Crowley , Ms. Pressley was looking to unseat a white male who'd represented for 20 years a district that was now mostly non-white. A survivor of sexual assault at Boston University and during her childhood, Pressley has been a vocal supporter of victims of sexual violence since long before the #MeToo movement.

Markets Amazon becomes the 2nd United States company to join the $1 trillion club
Author: 0 Amazon becomes the 2nd United States company to join the $1 trillion club

As of writing, Amazon's market cap is sitting pretty at $994.75 billion; it's nearly a certainty that the company's valuation will top $1 trillion again relatively soon. This made it hard to determine the company's actual value. "Now that it has several high-margin revenue streams, we're seeing those doubts subside". For instance, Amazon Web Services, a unit that provides hosting and cloud computing for other businesses, brought in $20 billion in revenue in 2017.

Markets Amazon becomes second trillion-dollar company
Author: 0 Amazon becomes second trillion-dollar company

According to a report in CBS News, Amazon shares hit $2,050.49 - climbing 1.5 per cent in the morning trade - bringing the company's market value above $1 trillion. In the second quarter the unit accounted for 55 percent of Amazon's operating income and 20 percent of total revenue, according to Morgan. The tech and retail behemoth, founded as an online bookstore by CEO Jeff Bezos in 1994, has only been consistently profitable since 2015.

Markets Fuel prices to remain unchanged: Radebe
Author: 0 Fuel prices to remain unchanged: Radebe

On the increasing petrol and diesel prices , Union Minister for Petroleum and Natural Gas Dharmendra Pradhan had claimed that rise in crude oil price in the worldwide market and devaluation of the Indian rupee against the US Dollar, are two factors responsible for the hike.

Markets California\'s Net Neutrality bill is soon to become law
Author: 0 California\'s Net Neutrality bill is soon to become law

After the vote , Wiener tweeted: "We will make the case to the Governor that cities should be able to decide for themselves what kind of nightlife makes sense". Supporters of net neutrality rules have been fighting the FCC's ruling on multiple fronts. It is sure to set up a fight between broadband providers, which say strict rules would increase their costs, and consumer groups, which seek to ensure that all traffic on the internet is treated equally.

Markets Argentina's peso hits record low against USA dollar
Author: 0 Argentina's peso hits record low against USA dollar

He defended the economic policies that Macri had imposed since 2015, saying it was a path "of fiscal balance, development and growth". The crisis left one out of every five Argentines unemployed and plunged millions of people into poverty. He added: "This will add further political pressure on President Macri ahead of [the Presidential Elections] in October 2019 given his aspirations for another term".

Markets China to limit number of online games over myopia fears
Author: 0 China to limit number of online games over myopia fears

There has been a gathering sense that the Chinese government would impose restrictions on video gaming, much as it has with other online content. Regulators stopped approving new games several months ago, among a restructuring of ministry responsibilities.

Markets USA may impose $200B China tariffs next week
Author: 0 USA may impose $200B China tariffs next week

While the Trump administration expresses confidence that China's economy is weak, and thus Beijing will quickly acquiesce to demands, most economists see little evidence to support this view. Trump administration officials have been divided over how hard to push Beijing. Broadening the tariff battle would mark the most significant move yet in a months-long trade stand-off and dent China's growth prospects.

Markets Kenya: May pledges Britain’s help in fight against militants
Author: 0 Kenya: May pledges Britain’s help in fight against militants

Kenya is the last African country to be visited by Theresa May in her three-day trade trip to Africa; she also visited South Africa and Nigeria. One of the users compared her moves to that of Mr Bean dancing in a club. The PM also pledged to repatriate assets acquired from corruption and attempted to be hidden in the United Kingdom would be returned to the people of Kenya.

Markets CBOE Close to Launching Ethereum Futures
Author: 0 CBOE Close to Launching Ethereum Futures

CBOE , which launched pioneering Bitcoin futures in December a year ago, is now waiting while the Commodity Futures Trading Commission ( CFTC ) to "get comfortable with the product before its official launch", the publication reported citing "people familiar with the matter".

Markets Trump cancels pay raise due to federal workers in January
Author: 0 Trump cancels pay raise due to federal workers in January

Trump's position...is a routine move at this point in the budget process because no decision has been made regarding a pay raise for federal employees come January 2019. Congress does have the option to override Trump's freeze on federal raises. Reaction on Thursday from Democrats was swift, particularly those from states adjacent to Washington, where large numbers of federal workers reside.

Markets GDP growth accelerates in Q1; highest in over two years
Author: 0 GDP growth accelerates in Q1; highest in over two years

Exuding confidence that India would be among the top three global economies in the next 10-20 years, finance minister Arun Jaitley recently said the country is likely to surpass the United Kingdom to turn the fifth largest economy next year based on consumption and economic activity.

Markets ‘No panic’ over Trump threat to leave, says WTO chief
Author: 0 ‘No panic’ over Trump threat to leave, says WTO chief

He added: "Threats like the US President's highlight growing frustration, but what's missing are practical reform ideas and a plan for steering them to consensus". Trump is also "thinking about" indexing capital gains to inflation, believes the European Union proposal to eliminate auto tariffs is "not good enough", and said he is not considering firing Attorney General Jeff Sessions - at least not until after the November midterm elections.

Markets This driveable Bugatti Chiron is made out of 1 million Lego blocks
Author: 0 This driveable Bugatti Chiron is made out of 1 million Lego blocks

It doesn't just look impressive, either - the model can hold two passengers, and travel at speeds over 20kmh (though the seats might be a little hard). Lego didn't just shove a bunch of AA batteries into the auto to get those motors moving. "When I first saw the Lego Chiron , I was immediately impressed by the accuracy of the model and the minute attention to detail", he said .

Markets Freeland sits down with USA negotiators for tough NAFTA talks
Author: 0 Freeland sits down with USA negotiators for tough NAFTA talks

Trump and Canadian Prime Minister Justin Trudeau expressed optimism on Wednesday about reaching an agreement by Friday, although much work remains on specific issues. "It seems like a set of things that are very easy for Canada to come in on", Brett House, deputy chief economist at Bank of Nova Scotia, said in an interview about what the USA and Mexico agreed to.

Markets TRUDEAU CAVES: Trump Says Trudeau 'Called Him' Following US-Mexico Trade Deal
Author: 0 TRUDEAU CAVES: Trump Says Trudeau 'Called Him' Following US-Mexico Trade Deal

He announced Monday that he has secured a tentative deal with Mexico and said "we'll see" if Canada can be part of the new agreement. But it does officially start the countdown clock. Canada's Foreign Affairs Minister Chrystia Freeland speaks to the media as she comments during a break in trade talks at the Office of the United States Trade Representative, Thursday, Aug.

Markets Trump cancels federal employee pay increases, citing financial concerns
Author: 0 Trump cancels federal employee pay increases, citing financial concerns

He said that locality pay increases would cost 25 billion dollars (£19 billion), on top of a 2.1% across-the-board increase for most civilian government employees. "His tax bill exploded the deficit, and now he is trying to balance the budget on the backs of federal workers", Connolly said. "We must maintain efforts to put our nation on a fiscally sustainable course, and federal agency budgets can not sustain such increases", Trump said in the letter.

Markets Costa Coffee SOLD to soft drinks giant Coca-Cola in shock £4bn deal
Author: 0 Costa Coffee SOLD to soft drinks giant Coca-Cola in shock £4bn deal

Coca-Cola are known for their soft drinks but they now have no coffee products in their portfolio, so Costa is an appealing prospect to expand their range. A significant majority of net cash proceeds meant to be returned to shareholders, Whitbread added. Whitbread shares soared almost 20% in early morning trade, catapulting it to the top of the FTSE 100.

Markets Elon Musk provokes Brit cave diver he called ‘pedo guy’ AGAIN
Author: 0 Elon Musk provokes Brit cave diver he called ‘pedo guy’ AGAIN

The British diver from this summer's Thai cave rescue whom Tesla founder Elon Musk referred to as a "pedo" is reportedly preparing to sue him for libel. Nelson wrote that she doesn't think she could cry in an interview, given the double standards that men and women face in the business world. It appeared that the controversy might have ended with Musk apologizing for his outburst and deleting the tweets shortly after, but on Tuesday, the whole issue was reignited again.

Markets RBI Confirms 99.15% of Demonetized Money Coming Back
Author: 0 RBI Confirms 99.15% of Demonetized Money Coming Back

Mumbai: Indians have deposited almost all the Rs 500 and 1000 notes invalidated after the Narendra Modi government's demonetisation move in November 2016 , the Reserve Bank of India (RBI) said in its annual report for 2017-18 after a count that lasted nearly two years.

Markets Toyota will reportedly invest $500 million in Uber
Author: 0 Toyota will reportedly invest $500 million in Uber

Toyota is investing $US500 million ($AU680 million) into Uber, according to The Wall Street Journal . It's unclear if Toyota will operate these autonomous vehicles or if another third-party, such as a fleet operator, will. Further details of the deal were not available, and the person briefed on the matter declined to be identified because an official release hasn't been issued.

Markets Trump terminating NAFTA, negotiating with Canada
Author: 0 Trump terminating NAFTA, negotiating with Canada

The US treasury secretary, Steven Mnuchin, said he was optimistic that Canada will join Mexico in signing up to the proposed restructuring of the 25-year-old North American Free Trade Agreement (Nafta ) trilateral trade pact. His sentiments were echoed by Vice President Mike Pence who said "The U.S. -Mexico Trade Agreement is a win for American ranchers, manufacturers and auto workers".

Markets The Truth About Trump’s ‘Tremendous’ New Trade Deal with Mexico
Author: 0 The Truth About Trump’s ‘Tremendous’ New Trade Deal with Mexico

Lighthizer argued he could - either give notice "that leaves open the possibility of Canada joining", or proceed without Canada if the country "elects not to join", he said. NAFTA reduced most trade barriers between the three countries. "Canada is encouraged by the continued optimism shown by our negotiating partners", said a spokesperson for Canadian Minister of Foreign Affairs Chrystia Freeland.

Author: 0 Trump dents hopes for China trade deal after agreement with Mexico

US and Mexico teams rushed to strike a deal this year before the inauguration of Mexico's President-elect Andres Manuel Lopez Obrador, a far-left politician. It would also require 40 percent to 45 percent of auto content to be made by workers earning at least $16 per hour, a second official said. "These rumored trade provisions would codify the administration's savage attacks on environmental protection, food safety, and consumer rights into trade deals that enshrine and globalize ...

Author: 0 U.S., Mexico reach NAFTA deal; talks with Canada to start immediately

Trump made these comments during an oddly riveting televised event from the White House, where he had Mexico's outgoing president, Enrique Peña Nieto , on speakerphone. US, Mexican and Canadian stocks opened higher on Monday on optimism about a trade deal. Canada and the USA have been at odds over trade in recent months.

Markets No-Brexit deal may mean higher cross-border payment costs
Author: 0 No-Brexit deal may mean higher cross-border payment costs

Speaking in Edinburgh as United Kingdom ministers published a series of technical notices advising businesses and the public on how to prepare for a no-deal Brexit, he claimed the signs were encouraging. London is Europe's leading financial services hub, with the global banks and investment houses based there working for clients across the EU. "This could impact these firms' ability to continue to service their existing products".

Markets Mexico Reach NAFTA Deal, Talks With Canada To Begin Immediately
Author: 0 Mexico Reach NAFTA Deal, Talks With Canada To Begin Immediately

The agreement lifted financial markets and opens the door for Canada to return to the negotiations to rework the 1994 U.S. -Canada-Mexico trade deal. "I'll be terminating the existing deal and going into this deal", Trump said. Trump tweeted on Monday morning that that a "big deal" with Mexico was "looking good". Mr. Peña Nieto said Mr. Lopez Obrador and Mr. Trump would all toast with a shot of tequila at a signing ceremony for the deal.

Markets USA softens its demand for NAFTA 'sunset clause': Mexican official
Author: 0 USA softens its demand for NAFTA 'sunset clause': Mexican official

Trade Representative's office. His tweet followed a similarly promising message from Mexico's Economy Minister Ildefonso Guajardo, who said on Friday that bilateral meetings with the United States were "very far" along. Lighthizer and Jared Kushner, Trump's son-in-law and adviser, declined to comment on Sunday afternoon as they left the trade representative's offices.