Money


Apple says new China tariffs will make Apple Watch, AirPods costlier Apple says new China tariffs will make Apple Watch, AirPods costlier
- September 10, 2018

Ford spokesman Michael Levine said the Focus Active is built in Europe. The tweet followed a letter Apple sent to the Trump administration saying that the proposed $200 billion tariffs on Chinese-made products would result in many Apple products getting hit by the 25 percent increase in import tax. (more...)
Despite Trump tweet, Ford says it won’t make hatchback in US
- September 10, 2018

The Focus Active was set to be the first Chinese-made Ford offered in the USA, while General Motors now imports the Buick Envision SUV and Cadillac CT6 Plug-In Hybrid. China is retaliating with its own tariffs on U.S. products. The United States on July 6 began imposing a 25 per cent tax on $34 billion (U.S.) in Chinese imports, including motor vehicles. (more...)
Trump Tells Apple to Make Products in USA to Avoid China Tariffs
- September 10, 2018

The trade surplus hit $31.05 billion in August and it continues to add fuel to the already heating up trade rhetoric between the USA and China . Ford said last month that it was scrapping its plans to import Focus Actives made in China to sell in the United States because Trump's tariffs would make the cars too expensive. (more...)
Petrol, Diesel prices hiked again, rates at record high Petrol, Diesel prices hiked again, rates at record high
- September 10, 2018

On Saturday, the fuel prices jumped to new record highs with a litre of petrol costing Rs 80.38 per litre and Rs 72.51 per litre that for Diesel in Delhi. Now, Shiv Sena has joined the mix too, criticising the government for its inability to put a check on the fuel prices. However, Finance Minister Arun Jaitley denied the request saying worldwide oil prices volatile and haven't shown any linear movement. (more...)
Tesla's top accountant exits after a month on the job Tesla's top accountant exits after a month on the job
- September 10, 2018

Philippe Houchois, an analyst at Jefferies Group LLC with a hold rating on Tesla shares, said that Musk "seems to be on a slightly self-destructive bent". Coupled with Musk's antics on the podcast, news of two high profile exits from Tesla saw the company's shares plunge close to 9%. Just hours after the show, the company said its chief accounting officer had resigned, citing discomfort with the level of public attention in the company. (more...)
Alibaba's Jack Ma to step down in September 2019 Alibaba's Jack Ma to step down in September 2019
- September 10, 2018

The businessman described the move as a step up to the " next level of corporate governance ", and transition from a company that fully relies on individuals to " one built on systems of organizational excellence and a culture of talent development ". (more...)
Lyft launches electric scooter service, Uber close behind Lyft launches electric scooter service, Uber close behind
- September 10, 2018

The company is also adding a feature in its app to let commuters know when they're near public transit stops. Uber, which acquired bikesharing startup Jump in April, has seen riders in San Francisco shifting from cars to electric bikes , suggesting the ridesharing giants must expand beyond cars if they don't want to see upstarts siphon away business. (more...)
Apple, Intel: US Tariffs on China Will Increase Prices for Electronics Apple, Intel: US Tariffs on China Will Increase Prices for Electronics
- September 10, 2018

Speaking just hours after the period for public reactions to the $200 billion China duties list he had set ended, Trump told reporters overseas Air Force One that he was "being strong on China because [he had] to be". As CNBC noted, Apple CEO Tim Cook had previously brushed off Trump tariffs, claiming to have had conversations with the POTUS, arguing that the tariffs would not hit Apple products. (more...)
Labor Department jobs report shows payrolls, wages rise Labor Department jobs report shows payrolls, wages rise
- September 10, 2018

Average hourly earnings rose 0.4% from the prior month following a 0.3% gain, the report showed. With the jobs growth coming in above the threshold required to keep the unemployment rate on hold or lower, the U3 reading held steady at 3.9%, even as the labor force participation rate dipped from 62.9% in July to 62.7% in August. (more...)
Canadian economy loses more than 51K jobs in August Canadian economy loses more than 51K jobs in August
- September 09, 2018

By comparison, London's jobless rate was 5.9 per cent in August, unchanged from July. "A little bit of a mixed bag, but definitely not quite as bad as the headline would suggest", TD senior economist Brian DePratto said of the August jobs report. (more...)
Poor Les Moonves may only get $100 million to leave CBS Poor Les Moonves may only get $100 million to leave CBS
- September 09, 2018

And the CBS side would drop its bid to dilute Redstone's ownership. However, Moonves has yet to accept this offer, as his contract stipulates that he will earn $180 million in severance and a production deal. Moonves released this statement to The New Yorker that was also obtained by EW: "Throughout my time at CBS, we have promoted a culture of respect and opportunity for all employees, and have consistently found success elevating women to top executive positions across our Company". (more...)
Petrol, diesel prices reach new high on Friday Petrol, diesel prices reach new high on Friday
- September 09, 2018

Petrol prices were increased to Rs 87.39, Rs 86.41 and Rs 83.13 per litre in Mumbai , Kolkata and Chennai respectively on Thursday. Finance Minister Arun Jaitley earlier this week remained non-committal on cutting excise duty to cushion spiralling petrol and diesel prices saying worldwide oil prices are volatile and have not shown any linear movement. (more...)
$112 Billion South Korean Investment Fund Seeks Crypto Advice From Goldman Sachs $112 Billion South Korean Investment Fund Seeks Crypto Advice From Goldman Sachs
- September 09, 2018

The cryptocurrency market crash is coming after experts were nearly concluding that digital currencies have taken a trend for price gains. Speaking this week at TechCrunch Disrupt in San Francisco, Chavez sought to put to rest speculation that Goldman, the fifth-largest bank in the USA, was quietly shuttering its bitcoin operation before it even got off the ground. (more...)
Amazon and Bernie Sanders at it again: Sanders introduces 'Stop BEZOS Act' Amazon and Bernie Sanders at it again: Sanders introduces 'Stop BEZOS Act'
- September 09, 2018

Anecdotes shared by current and former Amazon employees corroborate these findings. Jeff Bezos is the founder and chief executive of Amazon . The median salary for full-time Amazon employees is $34,123, the company said. The Vermont senator has previously railed against the way Amazon treats its workers . (more...)
Burberry Ends Burning of Unsold Goods, Phases Out Real Fur Burberry Ends Burning of Unsold Goods, Phases Out Real Fur
- September 08, 2018

The British fashion house is also dropping the use of real fur after anti-cruelty campaigns by animal welfare groups. The fashion empire famed for its heritage check has also promised to stop selling unsold stock after it was revealed that the brand destroyed @28.6 million worth of items a year ago to protect its status. (more...)
2 million Ford F-150s being recalled due to potential fire risk 2 million Ford F-150s being recalled due to potential fire risk
- September 08, 2018

The company said it was aware of 17 reports in the United States where smoke or fires broke out, and another six cases in Canada , but said it didn't know of any accidents or injuries that resulted. Pretensioners use explosive charges to hold seat belts in place during a auto crash. Regular cab tricks will also get modifications to the rear interior panels. (more...)
Concerns in US, Asia over fresh round of tariffs Concerns in US, Asia over fresh round of tariffs
- September 08, 2018

Trump told reporters about the tariffs on Friday while returning to Washington DC from Montana, where he held a campaign-style rally Thursday night. The U.S. trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. "The move would sharply escalate a trade war with Beijing, launched over demands from the White House for major changes in economic, trade and technology policy by China". (more...)
Bitcoin falls off another cliff as cryptocurrency slump deepens Bitcoin falls off another cliff as cryptocurrency slump deepens
- September 08, 2018

The market value of virtual currencies tracked by CoinMarketCap .com has slumped about 75% from its January peak to US$204 billion. With the U.S. Securities and Exchange Commission (SEC ) still pushing back on proposals for bitcoin exchange-traded funds , for instance, U.S. (more...)
Trump Threatens Tariffs on Another $267 Billion of Chinese Imports
- September 08, 2018

Trump initiated the trade war to punish Beijing for what it says are China's predatory tactics to try to supplant USA technological supremacy. The deadline has now passed for companies to submit their opinions to the USA government about its proposed new tariffs on China. (more...)
Trudeau Suggests Trump’s Behaviour Is Why Canada Needs Chapter 19 In NAFTA Trudeau Suggests Trump’s Behaviour Is Why Canada Needs Chapter 19 In NAFTA
- September 06, 2018

Lawrence Herman, a former Canadian diplomat who practices global trade law, said in an interview that although things have changed "mightily" since the original deal of the 1980s, the cultural exemption "is critical for Canada " in order to protect Canadian broadcasting, publishing, rules on Canadian content, and support for Canadian performing actors and artists in the recording industry. (more...)

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