• China's trade growth weathers U.S. tariff headwinds
China's trade growth weathers U.S. tariff headwinds

The office of US Trade Representative Robert Lighthizer said its "exhaustive" investigation showed that "China's acts, policies and practices related to technology transfer, intellectual property and innovation are unreasonable and discriminatory and burden US commerce".

Read more

  • Snap Earnings: Shares Soar, Then Dip, After Q2 Beat
Snap Earnings: Shares Soar, Then Dip, After Q2 Beat

Daily active users fell to 188 million, down 2 percent from the prior quarter. Its revenue was $262 million (around Rs. 1,800 crores) in the second quarter, beating the average estimate of $250.43 million (roughly Rs. "It has been approximately six months since we broadly rolled out the redesign of our application, and we have been working hard...

Read more

  • Here's what taking Tesla private means for the company and Elon Musk
Here's what taking Tesla private means for the company and Elon Musk

This included discussing how being a private company could better serve Tesla's long-term interests. Tesla Inc's board said it was evaluating taking the company private, a day after Chief Executive Elon Musk surprised shareholders with the idea of launching the biggest leveraged buyout of all time.

Read more

  • Facebook shares soar as it improves banking relationships
Facebook shares soar as it improves banking relationships

But Facebook is still dealing with the fallout of the Cambridge Analytica scandal, which generated a lot of distrust in how the company manages its users' data. (FB) is seeking to acquire financial data on its users. Wells Fargo said in a statement that "maintaining the privacy of customer data is of paramount importance" to the bank.

Read more

  • Elon Musk considers taking Tesla private
Elon Musk considers taking Tesla private

Tesla shares are up more than 5 percent at $360.64. That price would represent a 22.8 percent premium to Tesla's closing price on Monday. The company had a market value of US$58 billion as of Monday's close. While Musk is known for making erratic tweets, he tweeted "420" in a reply to Fox Business anchor Liz Claman, following up on his initial ...

Read more

  • Apple becomes world's 1st publicly traded trillion-dollar company
Apple becomes world's 1st publicly traded trillion-dollar company

Digging the information further, Apple technically is not the first company to hit $ 1 trillion mark in the U.S. stock market. 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.

Read more

  • Facebook (FB) Stock Sinks as Revenue Misses Expectations
Facebook (FB) Stock Sinks as Revenue Misses Expectations

CEO Mark Zuckerberg accounted for the majority of this sell-off, parting with $3.5bn worth of shares according to Bloomberg . Facebook's stock price now stands at $176.26, having dropped by a massive 18.9% from the $217.50 value that it stood at before the company's earnings call .

Read more

  • U.S. vehicle tariffs still aren't off the table, warns German industry group
U.S. vehicle tariffs still aren't off the table, warns German industry group

The statement came after Trump had threatened tariffs on vehicle imports and reports that the European Union is planning retaliatory measures. Trump and Juncker would have the European Union buying more liquefied natural gas and soybeans from the USA, and the two sides would begin a "dialogue to reduce differences on regulatory standard...

Read more

  • Farmers Want Better Trade Deals, Not A Bailout
Farmers Want Better Trade Deals, Not A Bailout

President Trump looked to soothe fears from jittery Republicans over his trade policy Wednesday, saying that negotiations are going well and urging people to "be cool" ahead of his talks with European Commission President Jean-Claude Juncker.

Read more

  • US Says Retaliatory Tariffs Unjustified in WTO Complaint
US Says Retaliatory Tariffs Unjustified in WTO Complaint

The agency reports claimed that these imports were putting national security at risk. That was been a key factor in China's export boom. China has accused the United States of hurting the global economy by waging trade wars. An Airbus-Boeing dispute, for example, took more than a decade to produce a final ruling. The Chinese retaliated with sim...

Read more

  • UK's May narrowly avoids defeat on EU customs union
UK's May narrowly avoids defeat on EU customs union

If Mrs May loses the vote, the government will be forced to ensure Britain remains in a customs union with the EU if no agreement on trade is reached by January 2019. The UK government has voted on, and passed, an amendment bill to the latest Brexit strategy proposed by Prime Minister Theresa May , and the details of the amendment may make it hard...

Read more

  • China's ZTE sees heavy losses in H1 due to USA penalty
China's ZTE sees heavy losses in H1 due to USA penalty

Because ZTE relies on USA suppliers to make its smartphones. The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. ZTE pleaded guilty previous year over the sanctions violations. Many U.S. lawmakers see the company as a national security threat and, on Thursday, a group of...

Read more

  • China trade surplus with United States hits record $29bn high
China trade surplus with United States hits record $29bn high

Treasury Department's financial emissary to China during the Obama administration. Those duties, in turn, were a response to new tariffs the United States had imposed on China. The US is now anxious about China's rising technological prowess. But countries like South Korea, Singapore and Taiwan could all be affected too because of disruption to sup...

Read more

  • 'Nasty' Number 10 beats Boris Johnson to his own resignation
'Nasty' Number 10 beats Boris Johnson to his own resignation

The ambassador said that while a meeting was not now on Mr Trump's itinerary "the President makes his own schedule", the day after the American leader said he may make time to meet his "friend" the former foreign secretary. The pound gave up recent gains during Asian trading after Davis's unexpected resignation as Brexit secretary over what he desc...

Read more

  • Comcast is expected to raise its offer for Sky
Comcast is expected to raise its offer for Sky

Comcast faces a deadline of Friday to put its offer to Sky shareholders. While Fox has agreed to sell most of its assets to Disney , Comcast has also made an all-cash offer for the Fox assets separate to its offer for Sky. "We welcome this increased offer", Martin Gilbert, deputy chairman of Sky, said in an emailed statement . The Departmen...

Read more

  • Iranian OPEC Minister Begs Trump To Stop Tweeting
Iranian OPEC Minister Begs Trump To Stop Tweeting

The oil boss also accused Trump of fomenting tensions in the Middle East, specifically by pitting Iran against Saudi Arabia . Responding to Trump's demands, Ardebili argued that the U.S.is to blame for imposing sanctions on OPEC members.

Read more

  • Pizza to toilet paper: The items targeted by Canada’s tariffs
Pizza to toilet paper: The items targeted by Canada’s tariffs

USA steel and aluminum tariffs have also been levied against Mexico, China, Turkey, India and the European Union. Canada's retaliatory tariffs on USA goods do nothing to help Canada and will only hurt American workers, White House spokeswoman Sarah Sanders said Monday.

Read more

  • Wal-Mart draws fire for 'Impeach 45' T-shirts
Wal-Mart draws fire for 'Impeach 45' T-shirts

Shirt-maker Old Glory says it sold thousands on Tuesday alone, but more pro-Trump items sell than anti-Trump ones, company says. The hashtag #BoycottWalmart was among the top-trending topics in the United States on the social media site, racking up more than 50,000 tweets by mid-afternoon.

Read more

  • Trump claims Saudi Arabia agreed to oil production hike, Riyadh doesn’t confirm
Trump claims Saudi Arabia agreed to oil production hike, Riyadh doesn’t confirm

Meanwhile, UK-based energy consultancy group, Fact Global Energy (FGE), reported in its June newsletter that Washington is determined to "push Iran's exports to zero". Other Indian companies have yet to announce whether or not they are reducing their imports, and Iranian oil manufacturers might be waiting for any developments coming from the coun...

Read more

  • GM WARNS: Trump’s tariffs ‘undermine our ability to compete’
GM WARNS: Trump’s tariffs ‘undermine our ability to compete’

Trump launched an investigation into imported vehicles in May, and repeatedly threatened to impose a 20 percent import tariff on vehicles. Washington-based trade group The Association of Global Automakers, which represents automakers from outside the USA, says Trump's tariffs are "the greatest threat to the US automotive industry at this time ...

Read more

  • Norwegian crew member who went overboard found 22 hours later
Norwegian crew member who went overboard found 22 hours later

On Sunday, crew and guests aboard another cruise ship, the Carnival Glory , saw him in the water and saved him. 'Kudos to the Carnival Glory team for this incredible effort to rescue a fellow seafarer'. "We did do a search pattern for about two hours, and then they turned back around 9 p.m.", said Schellenberger. An HC-144 Ocean Sentry pla...

Read more

  • Supreme Court ruling may boost Virginia tax income by $300M
Supreme Court ruling may boost Virginia tax income by $300M

That earlier ruling placed the responsibility of paying the online sales tax on customers who generally did not realize they owed it. The new tax revenue from cigarettes, oil and gas would fund House Bill 1023XX which allows for teacher pay raises in the first place.

Read more

  • Germany pockets 2.9 bn euros from Greece bailouts
Germany pockets 2.9 bn euros from Greece bailouts

The ministers were under pressure to finalize a deal that would allow Greece to safely emerge from the bailout program on August 20 and face the markets again. However, Tzanakopoulos said there was no truth in speculation that this deal was tied in any way to Greek debt relief. "The Greek crisis ends here tonight", said EU Economic Affairs Commis...

Read more

  • Erdogan Wins, Stays in Power As Turkey's President
Erdogan Wins, Stays in Power As Turkey's President

Supporters of Turkish President Recep Tayyip Erdogan celebrate after the close of voting for the Turkish presidential and parliamentary elections in Istanbul . The president is facing a more robust and united opposition this time, one that has vowed to return Turkey to a parliamentary democracy with strong checks and balances and decried what it ...

Read more

  • Cryptocurrencies Fall as Korean Exchange Says $32 Million of Coins Stolen
Cryptocurrencies Fall as Korean Exchange Says $32 Million of Coins Stolen

This is the second time Bithumb got hacked in last one year and the second consecutive hack in last one week in the Korean exchanges . Well, it isn't the first time South Korea exchanges faced a hack. The earlier hack had coincided with other related negative news about price manipulation and regulations. "All deposit and withdrawal service ...

Read more

  • China trade war fears hit global stock markets hard
China trade war fears hit global stock markets hard

Beijing has offered to narrow its politically volatile trade surplus with the United States but has resisted changing development plans its leaders see as a path to prosperity and to restoring China's rightful role as a global leader. The United States had already announced it will impose 25 percent tariffs on $50 billion in Chinese goods beginni...

Read more

  • Disney boosts Fox bid to $71.3 bn to counter Comcast
Disney boosts Fox bid to $71.3 bn to counter Comcast

Spokesmen for Fox and Comcast weren't immediately available for comment. The move comes after Comcast launched a rival offer for most of Fox's film and television holdings. If Fox were to start negotiations with Comcast, that could impact plans for shareholders to vote on the Disney deal next month. Comcast's current $65-billion cash offer fo...

Read more