Money


India ranks 1st among South Asian countries in Ease of Doing Business India ranks 1st among South Asian countries in Ease of Doing Business
- November 01, 2018

Buoyed by a 23-place jump on World Bank's ease of doing business ranking , finance minister Arun Jaitley on Wednesday said India can crack into top 50 if it improves on time taken for registering real estate, starting business and enforcement of contracts. (more...)
Britain To Target Online Companies With New 'Digital Services Tax' Britain To Target Online Companies With New 'Digital Services Tax'
- October 31, 2018

Specifically, the tax will apply to revenues generated from search engines, social media platforms and digital marketplaces. In his annual budget speech on Monday, finance minister Philip Hammond said that it is not sustainable or fair that digital businesses are able to generate substantial value in the United Kingdom without paying their taxes here in respect to that business. (more...)
Modi Government Invokes Never-Used Powers to Direct RBI Governor Modi Government Invokes Never-Used Powers to Direct RBI Governor
- October 31, 2018

Yet, Jaitley was publicly critical of the RBI on Tuesday, saying the central bank's lax policies had contributed to banks' current woes. Government officials believe that RBI Governor Urjit Patel has some responsibility for the controversy, and he can not expect an extension of his current three-year term - which ends next September - "as his right", one of the officials added. (more...)
Chancellor has taken a gamble with the public finances, says thinktank Chancellor has taken a gamble with the public finances, says thinktank
- October 31, 2018

Paul Johnson, the director of the Institute for Fiscal Studies, a London-based think tank, reckons there is "perhaps a one in three chance" of the UK's finances rapidly deteriorating as a result of Brexit next year. Almost half of the reforms will only affect the most well-off 10 per cent as tax changes become "even more regressive". "It will be carefully created to ensure it is established tech giants - rather than our tech start-ups - that shoulder the burden of this new tax". (more...)
First VIDEO of Wreckage From Deadly Boeing 737 Plane Disaster Emerges First VIDEO of Wreckage From Deadly Boeing 737 Plane Disaster Emerges
- October 29, 2018

Chief Executive Officer of Lion Air Group Edward Sirait said they were to "collect all the information and data" and can not give a comment at this moment. The Boeing 737-800 was scheduled to land in the city of Pangkal Pinan, on the Indonesian island of Bangka, at around 7:30 a.m., officials said. A flight tracking website Flightradar24 said the aircraft had only been delivered to Lion Air in August, the BBC reported. (more...)
U.S. economic growth slows slightly in third quarter; outlook less upbeat U.S. economic growth slows slightly in third quarter; outlook less upbeat
- October 29, 2018

In Riccadonna's view, unless there are more tax or another change in fiscal policy, growth in the second and third quarter's appears to be boosted by a "sugar high" from tax cuts rather than creating a new path for economic growth. Real GDP can be higher than real potential GDP if the economy gets extra stimulus from government spending or tax cuts. What Our Economists SayThe economy has reverted back to the "same old" model of consumer-driven activity that has dominated most of this cycle. (more...)
IBM to gobble Red Hat for $34bn - yes, the enterprise Linux biz IBM to gobble Red Hat for $34bn - yes, the enterprise Linux biz
- October 29, 2018

Buying Red Hat to give it management tools across multiple IaaS clouds, and probably an easier route to market for its software delivered as SaaS, therefore means a chance to turn IaaS weakness towards IBM's strengths. IBM and Red Hat are no strangers, having been partners for two decades. That signals the value it places on the company, which could add instant credibility to the computer and services giant's multiyear efforts to make its platform for cloud applications more appealing to ... (more...)
Oil prices drop as oversupply looms amid global market woes Oil prices drop as oversupply looms amid global market woes
- October 28, 2018

However, there is an important distinction when it comes to Saudi Arabia . The freeze on imports by China National Petroleum Corp. and Sinopec is temporary and purchases may resume depending on the outcome of negotiations with the US, said the people, asking not to be identified because the information is confidential. (more...)
Chevy, Ford, Tesla slip in Consumer Reports' reliability survey Chevy, Ford, Tesla slip in Consumer Reports' reliability survey
- October 28, 2018

If you're in the market for a new vehicle, Consumer Reports advises avoiding brand new models or redesigns. Other GM brands saw their place in the rankings fall from past year. Left at the bottom are the Americans (and Sweden's brand Volvo because of alleged infotainment issues). "Suspension issues for Model S have improved 65 percent since previous year, and we continue to make further improvements", a Tesla spokesperson said in an emailed statement. (more...)
How man's broken hip led to him winning major lotto prize How man's broken hip led to him winning major lotto prize
- October 27, 2018

A New Jersey man who broke his hip saw his luck turn around when he joined a hospital lottery pool that won $ 1 million . "When the patient came in for care and he told them what had happened, they invited him to join as a way to make him feel less sick", the hospital's chief nurse, Marianne Kraemer, told CNN. (more...)
Tesla shares big news with 3rd quarter financial results Tesla shares big news with 3rd quarter financial results
- October 27, 2018

CEO Elon Musk will sabotage his own goals for the electric auto maker if he takes it private, said ARK Invest CEO Cathie Wood, who predicted Tesla stock could reach $4,000 per share. "Due to the ingenuity and incredible hard work of our team combined with an innovative vehicle design and manufacturing strategy, we have achieved total auto gross margin of ~25%". (more...)
Move Over America: China's Billionaires Are Taking Over Move Over America: China's Billionaires Are Taking Over
- October 27, 2018

At this rate, Asian billionaires will be wealthier than their American counterparts in three years, UBS said in its fifth annual edition of the Billionaires Insights report , New Visionaries and the Chinese Century . While the USA holds the largest concentration of billionaire wealth, China is quickly catching up, and the APAC region could soon surpass the Americas. (more...)
Trump launches new broadside against the Fed: 'I'm very unhappy' Trump launches new broadside against the Fed: 'I'm very unhappy'
- October 27, 2018

Richard Clarida, the U.S. Federal Reserve's new Vice Chair, on Thursday backed the central bank's plan to raise interest rates further as the risks that monetary policy must balance are "less skewed to the downside". "Obviously, presidents can speak out if they choose to and give their opinions about policy, there's no law against that, but I don't think it's wise and I do think the Fed has a strong reputation for acting in an independent and non-political way and I would not like to see ... (more...)
Google sacked 48 people for sexual harassment, boss says Google sacked 48 people for sexual harassment, boss says
- October 27, 2018

It is unclear whether the board were aware of the allegations at this time . "When Google covers up harassment and passes the trash, it contributes to an environment where people don't feel safe reporting misconduct ", Fong-Jones said. On an analyst conference call, Pichai told investors that Google expects to roll out its technical solution in the "next few weeks" addressing European antitrust concerns over Android . (more...)
Turkish probe of Khashoggi killing turns to garden well Turkish probe of Khashoggi killing turns to garden well
- October 27, 2018

While departing the White House for a rally Monday in Texas, Trump appeared skeptical of the Saudi explanation and suggested he wouldn't accept the one month the Saudis have requested to complete their investigation into Khashoggi's death. (more...)
Wall Street extends tailspin as global markets cap ugly week Wall Street extends tailspin as global markets cap ugly week
- October 27, 2018

Ford Motor, which is struggling with sales in China, rose 8.2 percent as its earnings report raised hopes for a strong finish to the year, bolstering gains in the consumer discretionary sector. "There's less pressure on the Federal Reserve to do something (on interest rates)", Bakhos said. The company had forecast holiday season sales and profit that missed Wall Street targets, projecting revenue growth that would be the slowest in years. (more...)
Single ticket in SC wins record $1.6 billion Mega Millions jackpot Single ticket in SC wins record $1.6 billion Mega Millions jackpot
- October 27, 2018

At least one winning ticket has been reported, in SC, for the largest lottery jackpot in United States history. The $US1.6 billion prize reflects the annuity option, paid over 29 years. The lucky player overcame miserable odds: The chance of matching all six numbers and winning the top prize is 1 in 302.5 million. Lottery players face odds of 1 in 303 million of winning the Mega Millions drawing. (more...)
Saudi crown prince discusses journalist Khashoggi case with Turkish president Saudi crown prince discusses journalist Khashoggi case with Turkish president
- October 26, 2018

In his remarks Tuesday, Mr. Erdogan said Saudi authorities had taken an important step in confirming Mr. Khashoggi's death. "We have shared with those who sought additional information some of the information and findings that the prosecutor has allowed us to share and that is legal to share", Turkish Foreign Minister Mevlut Cavusoglu told reporters on Thursday. (more...)
Last Minute Thought: Buy or Sell Amazon (AMZN) Stock Before 3Q18 Earnings? Last Minute Thought: Buy or Sell Amazon (AMZN) Stock Before 3Q18 Earnings?
- October 26, 2018

The midpoint of its guidance calls for 15% revenue growth. Olsavsky said Thursday that Amazon still has more than 100 million Prime members worldwide, even after raising its membership fees by 20 percent earlier this year. North American retail operations are doing much better than the years of yore that saw the company lucky to count two percent margin. Operating income is expected to be between $2.1 billion and $3.6 billion, compared with $2.1 billion in fourth quarter 2017. (more...)
Owner warns others to stop feeding 'gold-digging' dog McDonald's Owner warns others to stop feeding 'gold-digging' dog McDonald's
- October 26, 2018

On Sunday, Betsy Reyes shamed her "fat ass" dog Princess on Facebook for her late-night antics. Princess can't seem to curb her craving for Big Macs and fries, so the dog has taken to sneaking out at night and walking herself to the parking lot of a local McDonald's in Oklahoma City to get her fix. (more...)

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