Money


Heathrow airport is closed for arriving and departing flights Heathrow airport is closed for arriving and departing flights
- July 21, 2018

Five local government councils are going to court to stop the expansion of London's Heathrow Airport. 'Heathrow experienced a fire alarm activation that impacted the operation of the airfield for a short while, ' they said. Some flights had to be diverted to other airports while the control tower was out of action. The outage caused delays and cancellations, with BA's Terminal 5 particularly badly affected. (more...)
China says US blaming Xi for blocking trade deal is China says US blaming Xi for blocking trade deal is "bogus"
- July 21, 2018

USA -based industrials like these rely on China for business. "And the tit-for-tat business, which is nobody's favorite path, but nonetheless - they can end that this afternoon ... "And I think the president [Trump] is so dissatisfied with China on these so-called talks that he is keeping the pressure on and I support that", he added, shedding light on the U.S. (more...)
PM Narendra Modi To Interact With Saubhagya Scheme Beneficiaries Today PM Narendra Modi To Interact With Saubhagya Scheme Beneficiaries Today
- July 21, 2018

He said about 14,500 villages out of 18,000 villages not electrified were in Eastern India and government have changed that. Under the scheme, DISCOMs will also organize camps in villages or cluster of villages to facilitate on-the-spot filling up of application forms including release of electricity connections to households. (more...)
Trump threatens tariffs on all $505 bln of Chinese imports
- July 21, 2018

Meanwhile in Brussels, EU Trade Commissioner Cecilia Malmstrom said the EU would "think out of the box" in a bid to find a solution, but she warned officials were preparing to respond with what she called "rebalancing measures" should the U.S. (more...)
Trump slams Fed's rate policy despite strong economy Trump slams Fed's rate policy despite strong economy
- July 20, 2018

President Donald Trump lashed out at China and the European Union for their weak currencies and said a stronger dollar and rising interest rates are undermining America's "competitive edge", taking a fresh jab at the Federal Reserve . (more...)
Trump threatens tariffs on all US$505b of Chinese imports
- July 20, 2018

Trump . "We've been ripped off by China for a long time", he added. So far, the Trump administration has slapped tariffs on $34 billion of Chinese goods over what it describes the country's predatory practices. The Fed has raised interest rates five times since Trump took office in January 2017, with two of those coming this year under Chairman Jerome Powell , the president's pick to replace Janet Yellen . (more...)
Microsoft's earnings beat expectations as cloud business booms Microsoft's earnings beat expectations as cloud business booms
- July 20, 2018

Revenue in Intelligent Cloud was $9.6 billion and increased 23 per cent. Productivity and Business Processes were $9.7bn, up 10 per cent. Office commercial revenues were up 8 per cent, while Office consumer revenues were up 6 per cent. Microsoft has announced technology partnerships with other major firms in recent months including General Electric, Starbucks, Bayer, Spain's Telefonica and sports organisations such as the National Basketball Association and PGA. (more...)
Trump slams rate increases by independent Federal Reserve
- July 20, 2018

The POTUS told CNBC's Joe Kernen , in an interview that will air Friday on Squawk Box , "I'm not thrilled " with the two interest rate increases the Fed has instituted this year and the two more that are likely to come before 2018 is up. (more...)
SIA bags world's best airline title, Transport News & Top Stories SIA bags world's best airline title, Transport News & Top Stories
- July 20, 2018

Other accolades include China Southern Airlines winning the world's most Improved airline, continued success for Garuda Indonesia being named the world's best cabin crew, Norwegian as the best long-haul low-priced airline. "We look forward to providing our guests with more products, services and destinations, along with our caring guest experience as we transition to a global airline". (more...)
US Crude Oil Price Heads Lower Again US Crude Oil Price Heads Lower Again
- July 20, 2018

Oil companies are planning to make up for the shortfall by increasing purchases from other Middle Eastern suppliers, such as Saudi Arabia , since imports of Iranian crude will likely stop by around October, the sources said. Thirty-five years have now passed since OPEC imposed an embargo on the export of oil to the United States. Instead of directly paying for Iranian oil, special bank accounts were set up where oil buyers deposited money that could only be used to buy certain commodities. (more...)
European Union fines Google $5 billion European Union fines Google $5 billion
- July 19, 2018

Google was previously penalized by the European Commission just a year ago, when the search giant was slapped with a $2.7 billion fine for lowering the ranking of competitor shopping comparison tools to promote its own. Mr Pichai added the decision from the European Union had the chance to "upset the careful balance" Google has "struck with Android". We may see this new software only in Google devices at first, but it's not clear if the rest of the devices from other companies will have to ... (more...)
Tory MP urges vote of no confidence in Theresa May over Brexit Tory MP urges vote of no confidence in Theresa May over Brexit
- July 19, 2018

The MP's partner, Esther McVey, is the welfare secretary. Johnson, who was the figurehead of the Vote Leave campaign, warned the government not to "make the fatal mistake of underestimating the intelligence of the public", who he claimed would understand that the deal the prime minister is proposing is "Brexit in name only". (more...)
Fuel and energy prices to push UK inflation to four-month high Fuel and energy prices to push UK inflation to four-month high
- July 19, 2018

But in a note to clients, Capital Economics' senior United Kingdom economist Ruth Gregory said that while Wednesday's inflation numbers "perhaps reduce the chances of a rate hike in August. But some relief emerged for consumers on the high street, where clothing discounts - most strongly felt in men's apparel - left more cash in shoppers' wallets. (more...)
Jeff Bezos becomes richest man in modern history, topping US$150b Jeff Bezos becomes richest man in modern history, topping US$150b
- July 18, 2018

Historically, Bezos still trails other wealthy individuals such as oil magnate John D Rockefeller and steel baron Andrew Carnegie, whose inflation-adjusted net worth would be more than $300 billion. The company's share price was $1,825.73 in late-morning trading in NY, extending its 2018 gain to 56% and giving Bezos a $150.8bn fortune. Amazon shares slipped below $1,800 in extended trading after Netflix Inc. (more...)
Blue Origin’s New Shepard Rocket Aces Important Test
- July 18, 2018

Both the booster and the capsule landed safely less than 12 minutes after liftoff, the latter touching down softly on the desert floor under parachutes, sending up a plume of dust. (Blue Origin via YouTube) The New Shepard capsule makes its descent. Mannequin Skywalker had a smooth landing, Cornell reported . "At Blue Origin, we're all about safety", she said. (more...)
Farnborough Airshow: Aviation booming, but trade war threatens Farnborough Airshow: Aviation booming, but trade war threatens
- July 18, 2018

May's words, to be delivered at the air show southwest of London, come at a crunch time as pro-Brexit legislators in her party oppose her European Union exit strategy. "Our worst case scenario is genuinely - and it is not alarmist or scare mongering - that aircraft will not fly", said Farnborough International chairman Paul Everitt, who is also head of aerospace, defence and space trade body ADS. (more...)
European Union rejects protectionism in huge trade deal with Japan European Union rejects protectionism in huge trade deal with Japan
- July 18, 2018

Under it, Japan will scrap nearly all its tariffs on European Union goods, particularly dairy items like cheese, though the country's rice industry will remain protected. The US was in talks with Japan and other Asian countries 18 months ago about a wide-ranging free-trade agreement, the Trans-Pacific trade agreement, but Donald Trump withdrew from this in one of his first moves after becoming president. (more...)
Schnatter says he shouldn't have resigned as Papa John's chairman Schnatter says he shouldn't have resigned as Papa John's chairman
- July 18, 2018

Schnatter Thursday evening and Friday morning briefly", Bendapudi said. Papa John's founder and CEO John Schnatter attends a meeting in Louisville, Ky., in 2017. The pizza franchise announced in a statement that Schnatter will "cease all media appearances, and not make any further statements to the media regarding the company, its business or employees". (more...)
Ex-minister backs new Brexit vote as eurosceptics pressure May Ex-minister backs new Brexit vote as eurosceptics pressure May
- July 17, 2018

Meanwhile, the parliamentary private secretary at the Treasury, the North Cornwall MP Scott Mann, announced he was resigning yesterday in protest at what he called a "watered-down Brexit ". Speaking to the BBC's Andrew Marr, May indicated she would seek to fight off any challenge that emerged before the summer recess, saying: "I want to focus people's minds on how you ensure you achieve that prize, the benefits of leaving the European Union". (more...)
Netflix stock is plummeting after it missed subscriber targets by nearly 1M
- July 17, 2018

It now has about 130 million worldwide. Chief Executive Reed Hastings , in a letter to shareholders, called it a "strong but not stellar Q2". Netflix said it made a profit of $384m on revenue of $3.9 billion in the recent quarter, compared to net income of $66m on $2.8bn in revenue in the same period a year ago. (more...)

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