Money


US$200 billion in Chinese goods officially 'Tariffed!' US$200 billion in Chinese goods officially 'Tariffed!'
- September 18, 2018

Trump threatened that nations that don't make "fair" deals withe US with getting "Tariffed" on Monday morning prepared to slap the trade rival with the expected $ 200 billion in penalties. "For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies", he said. And China has retaliated in kind, hitting American soybeans, among other goods, in a shot at the president's supporters in the U.S. (more...)
Dena, Vijaya, BoB to merge and form country’s 3rd largest bank Dena, Vijaya, BoB to merge and form country’s 3rd largest bank
- September 18, 2018

This step will particularly help Dena Bank, the weakest of the three, which is now under the Reserve Bank of India's Prompt Corrective Action (PCA) framework and has been barred from extending fresh loans. P.S. Jayakumar, managing director and CEO of Bank of Baroda , said the merger would result in greater presence in the four southern states. The new amalgamated bank will have a total business of more than Rs 14.82 lakh crore. (more...)
Trump Sets Tariffs On $200 Billion In Imports From China
- September 18, 2018

President Donald Trump said he'll make an announcement on China trade after US financial markets close Monday. Yang Weimin, deputy director for economic affairs at the Communist Party's top advisory body, said at the China Development Forum in Beijing on Sunday that China would not negotiate while under pressure. (more...)
Amazon investigating claims of employees leaking data for bribes Amazon investigating claims of employees leaking data for bribes
- September 18, 2018

The practice is reportedly widespread in China where Amazon's internal sales data can sell for anywhere from $80 to $2,000. This comes according to both merchants who bought said information, and brokers who sold it, both of whom talked to the publisher, along with "people familiar with internal investigations". (more...)
U.S. imposes new $200bn tariffs on China
- September 18, 2018

A White House statement said tariffs would start at 10 percent and go into effect in a week, on September 24, before kicking into full gear at 25 percent at the start of the new calendar year. The tough talk follows reports China is deliberately reducing exports to the USA by slowing down customs approvals and stepping up environmental and other inspections. (more...)
United States ready for China trade deal when Beijing is 'serious'; Kudlow
- September 18, 2018

One of China's most prominent figures in global finance says Beijing should press Washington to end their tariff battle by clamping down on exports of goods needed by American companies, according to news reports Monday. "While Washington extends a carrot to Beijing, it is also swinging a stick". "There are quite a few names that are sitting on long butterfly positions, so they'll make money if it (the Canadian dollar) moves up or down", said Simon Côté, managing director, risk management ... (more...)
Coca-Cola Preparing To Make Cannabis-Infused Drink For The Fist Time Ever Coca-Cola Preparing To Make Cannabis-Infused Drink For The Fist Time Ever
- September 17, 2018

The Edmonton, Alberta-based company has soared along with other pot stocks in Canada as the country gears up to become the first Group of Seven nation to legalize cannabis on October 17. According to the above-linked report, Coke is in talks with Aurora Cannabis , Canada's third-largest pot company. "There is so much happening in this area right now and we think it has incredible potential". (more...)
London mayor calls for second Brexit referendum London mayor calls for second Brexit referendum
- September 17, 2018

But last night it was reported that Brussels was preparing to accept a frictionless Irish border using new technology to minimise checks. It has also infuriated pro-Brexit MPs who believe Britain should leave the European Union on schedule in March 2019 in line with the "will of the people". (more...)
Iran says oil market held Iran says oil market held "hostage" by Saudi Arabia, Russia
- September 17, 2018

Oil cartel OPEC has allowed some members to turn the group into a tool for the USA, a senior Iranian official said in comments published on Saturday. Demand for oil grew more slowly in the second quarter but will continue to rise this year and in 2019, the group said. The storm could also affect the Colonial Pipeline, which transports oil through North and SC with the latter said to be in the direct path of the storm's eye. (more...)
Salesforce CEO Marc Benioff to buy Time magazine for $190M
- September 17, 2018

Benioff has said that Time is a company that has a "tremendous impact on the world", and is also an "incredibly strong business". By snatching up Time , Marc Benioff joins another big boss of the tech industry, Amazon's Jeff Bezos, who owns the prestigious Washington Post newspaper. (more...)
Karnataka government cuts Petrol, Diesel prices by Rs 2/litre Karnataka government cuts Petrol, Diesel prices by Rs 2/litre
- September 17, 2018

In the other key cities of Delhi and Chennai too, petrol prices climbed fresh highs of Rs 81.63 and Rs 84.85, against the previous levels of Rs 81.28 and Rs 84.49 per litre respectively. India imported crude oil worth Rs. 2,640,30 crore (over $39 billion) between April and July 2018, according to data provided by the Petroleum Planning and Analysis Cell. (more...)
Bank holds interest rates and warns over no-deal Brexit Bank holds interest rates and warns over no-deal Brexit
- September 17, 2018

The Bank of England and Britain's largest banks are well prepared for a disorderly Brexit , the central bank's governor Mark Carney said on Friday, amid reports he had warned it could trigger a house price crash. On Thursday, the BoE kept to its standard line that ongoing tightening of monetary policy was likely to be needed if the economy grew as forecast, but that any rate rises would be limited and gradual. (more...)
MPI confirms no Australian contaminated strawberries in NZ
- September 17, 2018

Aldi and Coles supermarkets across the country have removed all strawberries from shelves as a precaution and New Zealand stores have also stopped supplying Australian grown strawberries to customers. Berry Obsession, Berry Licious and Donnybrook Berries have recalled strawberries nationwide. Federal Health Minister Greg Hunt has also ordered the national food safety watchdog to assess Queensland's handling of strawberry contamination. (more...)
Duke Energy shutting down North Carolina nuke plant ahead of Florence Duke Energy shutting down North Carolina nuke plant ahead of Florence
- September 17, 2018

Duke Energy , which supplies electricity to communities in there different states, a 1,870-megawatt facility located about 30 miles south of Wilmington on North Carolina's southern coast, Weather.com reported. According to a 2004 NRC report, Brunswick was rated to be waterproof against a storm surge of up to 6.7 metres (22 feet). "Two, they have backup generators for power and we will rapidly assess any impacts to a nuclear power plant post-storm", Byard said in a call with media. (more...)
Strawberry sabotage: WA not affected by needle contamination Strawberry sabotage: WA not affected by needle contamination
- September 16, 2018

A Woolworths spokesperson later told Starts at 60: "Woolworths takes food safety very seriously and is working closely with authorities as they investigate this matter". It's not known if all the finds are from the original Queensland incident, because not all of them have been forensically examined. Queensland man Hoani Hearne wound up in hospital after swallowing part of a needle and developing severe abdominal pain on Sunday. (more...)
Border official: Canadians entering United States risk lifetime ban for marijuana use Border official: Canadians entering United States risk lifetime ban for marijuana use
- September 16, 2018

The United States of America does not recognize legal marijuana as a legal business . The Horizons Marijuana Life Sciences Index ETF has risen by 134 percent in the past year. As Canada moves toward it's October 17legalization date for recreational cannabis, it looks like the move might create more strict border relations with the country and the United States. (more...)
FEMA to test system allowing Trump to send emergency alerts FEMA to test system allowing Trump to send emergency alerts
- September 16, 2018

The Wireless Emergency Alerts (WEA) system is already in use in the USA -smartphone users are likely familiar with the loud, droning tone of flood warnings or Amber alerts. Any cellphone that is powered on, connected to a WEA member's network, and is within range of an active cell tower will receive the message once. "This is a great idea and an awesome use of technology to reach everybody if they're in harm's way", Karen North, the director of the Annenberg Digital Social Media program at ... (more...)
Calling teen vaping epidemic, officials weigh flavor ban Calling teen vaping epidemic, officials weigh flavor ban
- September 16, 2018

The head of the Food and Drug Administration says there has been an epidemic surge of e-cigarette use among teens. But they say that this move like this could backfire because, you know, adults who are - use e-cigarettes are using them to quit smoking tobacco cigarettes, which are really unsafe. (more...)
How the Waffle House is used to determine a hurricane’s fury How the Waffle House is used to determine a hurricane’s fury
- September 16, 2018

With 1,500 locations, mainly across the South and along the Gulf Coast, that are open 24 hours a day, 7 days a week, 365 days a year, it's a big deal when Waffle House closes its doors. The idea of closing a restaurant, though, is foreign to Waffle House employees. If locations in the affected area are forced to close, the index is red - and because Waffle Houses are very prepared, this is the rarest scenario. (more...)
Oil prices near $80 a barrel as concern grows over global supply Oil prices near $80 a barrel as concern grows over global supply
- September 16, 2018

Brent crude oil spot prices averaged 73 USA dollars per barrel in August, down nearly 2 dollars from July. Light, sweet crude for October delivery dropped $1.78, or 2.5%, to $68.59 a barrel on the New York Mercantile Exchange, its worst day since August 15 after it closed at its highest level since July 20 a session earlier. (more...)

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