Money


Google said to develop censor-friendly search engine for China
- August 02, 2018

Through the looking glass: Google has had several run-ins with the Chinese government and is finally caving to demands for a heavily restricted search engine. Google's main search platform is blocked in China along with its video platform YouTube - but it has been trying to make new inroads into China and its rapidly expanding economy. (more...)
Monetary Policy: RBI Hikes Interest Rates Again; Loans To Get Costlier
- August 02, 2018

The reverse repo rate has been hiked to 6.25%, the RBI announced after its three-day Monetary Policy Committee (MPC) meeting. Five of the six members on the rate panel voted for the rate increase. Investec economist George Brown said he is "fairly confident" the Bank will move to raise rates and is pencilling in an 8-1 vote in favour, with Sir Jon Cunliffe the only dissenter. (more...)
Huawei smartphone sales reach all time high, surpassing Apple Huawei smartphone sales reach all time high, surpassing Apple
- August 02, 2018

Chinese electronics giant Huawei has officially edged out Apple , emerging as the world's 2nd smartphone seller, according to figures released by IDC (International Data Corporation ). However, the brand still managed to increase its YoY shipments by 5.1 percent, and continued its expansion in other markets like the Middle East and Africa. (more...)
Trump Administration Threatens Even Higher Tariffs On China
- August 02, 2018

The US imposed 25 per cent tariffs on $US34 billion of Chinese products in early July, and the review period on another $US16 billion of imports ends on Wednesday . "We would advise the United States to correct its attitude and not try to engage in blackmail". In early July, the U.S. government imposed 25 per cent tariffs on an initial $34 billion of Chinese imports. (more...)
Secret TSA program tracked random, innocent travelers Secret TSA program tracked random, innocent travelers
- August 02, 2018

The Globe reports that a full list of criteria for Quiet Skies was unavailable, and that the TSA initially wouldn't confirm the program even exists. Under the program, passengers may attract particular attention due to their travel histories, or because of behavior such as sweating, visiting the restroom a lot, sleeping, looking around erratically or having a "cold, penetrating stare", according to the reports. (more...)
Trump administration adds to China trade pressure with higher tariff plan
- August 02, 2018

The Trump administration has threatened to increase the rate of its tariffs against China from 10 percent to 25 percent. China responded with tariffs on US goods, mainly farm exports. Investors fear an escalating trade war between Washington and Beijing could hit global growth, and prominent USA business groups have condemned Trump's aggressive tariffs. (more...)
RBI hikes repo rates by 25 basis points RBI hikes repo rates by 25 basis points
- August 02, 2018

Reverse repo rate - the rate at which the RBI borrows money from commercial banks - was also hiked to by 25 basis points to 6.25 per cent. In June, the repo rate or the benchmark lending rate was raised for the first time in over four years, by 25 basis points to 6.25 percent. (more...)
Tesla adds 'Party & Camper mode' to Model 3, S and X Tesla adds 'Party & Camper mode' to Model 3, S and X
- August 02, 2018

Tesla went through $739.6 million in cash between April and June , less than the $900 million Wall Street analysts had forecast. Tesla says it expects to make a profit and generate cash in the third and fourth quarters. Before today's earnings report, the shares were down less than 5 percent on the year. It expects to produce between 50,000 and 55,000 Model 3s this quarter. (more...)
United States slaps sanctions over charged pastor; Turkey vows reprisal United States slaps sanctions over charged pastor; Turkey vows reprisal
- August 02, 2018

Pastor Andrew Brunson, a United States citizen and a Turkish resident for over two decades, has been arrested as part of Ankara's probe into the 2016 failed military coup. A Foreign Ministry statement called the sanctions a "disrespectful intervention in our legal system" that would harm "the constructive efforts toward resolving problems between the two countries". (more...)
Dollar gains as investors prepare for Bank of Japan tweaks
- August 02, 2018

The dollar index .DXY fell 0.33 percent, while the Japanese yen JPY= retreated slightly, slipping 0.04 percent versus the greenback to 111.07 per dollar. Speculation that the BoJ will dial back its easing also saw yields on Japanese Government Bonds tick up overnight. And it will continue to buy government bonds so that the outstanding balance will increase at an annual pace of about 80 trillion yen, or 700 billion dollars. (more...)
USDA Issues Alert About Salads & Wraps Due To Parasite Concerns USDA Issues Alert About Salads & Wraps Due To Parasite Concerns
- August 02, 2018

Caito Foods received notification from its lettuce supplier, Fresh Express, that the chopped romaine used to make some of their salads and wraps was being recalled. A spokesperon said,"This product was available in a limited number of our stores in IL only". Consumers are urged to throw them away or return them to stores for a refund. (more...)
Apple earnings beat expectations as it sells pricer iPhones Apple earnings beat expectations as it sells pricer iPhones
- August 01, 2018

Even though iPhone unit shipments inched up 1% to 41.3 million, revenue catapulted 20% to $29.9 billion because the $999 iPhone X was the top-selling brand, Apple CEO Tim Cook said in a conference call with analysts today. The tech company posted $53.3 billion in third-quarter revenue, up 17 percent from the same quarter previous year. But several of Apple's services do not face strong rivals. (more...)
Harley-Davidson to fight in India with smaller engine bikes Harley-Davidson to fight in India with smaller engine bikes
- July 31, 2018

The new streetfighter line will have models ranging from 500 cc, ideal for emerging markets like India. Coming in 2019 is the LiveWire, Harley-Davidson's first electric motorcycle. Harley-Davidson has facilities in Brazil, India and Thailand to tap those high-growth, emerging markets. In January, the iconic motorcycle maker confirmed that it was injecting funds to meet its target of getting its first electric offering on the road within 18 months. (more...)
Tesla Launches A $1,500 Surfboard, Sells out Almost Immediately Tesla Launches A $1,500 Surfboard, Sells out Almost Immediately
- July 31, 2018

Now it looks like the company is back with its latest zero-emission "vehicle" which comes in the form of a surfboard . In 2016, customers pre-ordered over 400,000 Tesla Model 3 cars at $35,000 each (initially overjoyed, the company has spent the past two years struggling to meet that demand). (more...)
McDonald's launches its own global currency McDonald's launches its own global currency
- July 31, 2018

Dubbed the "MacCoin" (because, what else would they name it) the faux currency can be redeemed at many McDonald's around the world. 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". (more...)
Trump's trade policy seems to be working at cross purposes Trump's trade policy seems to be working at cross purposes
- July 30, 2018

Whatever deal the US and European Union work out will need to be carefully examined. "The European Union is going to start, nearly immediately, to buy a lot of soybeans - they're a tremendous market - buy a lot of soybeans from our farmers in the Midwest, primarily", Mr. (more...)
Facebook market value plunges $120 bil Facebook market value plunges $120 bil
- July 30, 2018

The sell-off followed an earnings report showing growth in users and ad revenue had been slower than expected. "Over the next several years, we would anticipate that our operating margins will trend towards the mid-30s on a percentage basis", Wehner said on a conference call with analysts. (more...)
United States and European Union agree to ease tensions over trade disagreements United States and European Union agree to ease tensions over trade disagreements
- July 29, 2018

Receive daily email alerts, subscriber notes & personalize your experience. Juncker and Trump emerged from the meeting with a handshake deal to avoid a trade war between the USA and the EU. During a speech to the Veterans of Foreign Wars, the president said the result of his trade policies will be positive. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that a year ago totaled $335 billion. (more...)
Death of World's Oldest Person in the World Confirmed Death of World's Oldest Person in the World Confirmed
- July 29, 2018

She assumed the title of the world's oldest living person after the death in April of Nabi Tajima , who was also 117. In her family, Chiyo Miyako was known simply as " the goddess ". In May, The Post's Lindsey Bever wrote about Fredie Blom, a South African man who turned 114 this year . Yet the absolute record on duration of life on the planet belongs to Jeanne Louise calment of France who died aged 122 years. (more...)
Wall Street rises as Trump touts European Union trade concessions Wall Street rises as Trump touts European Union trade concessions
- July 28, 2018

Eastern Time. The Dow Jones Industrial Average surged 139 points, or 0.6 percent, to 25,553. About 25 minutes into trading, the tech-rich Nasdaq Composite Index was at 7,840.20, down 1.2%, falling from Wednesday's record close. "For such a big company to suffer such a significant decrease in price is really awesome to watch", said Erik Davidson, chief investment officer at Wells Fargo Private Bank. (more...)

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