Saudi Arabia Vows To Repay Action Against It 'With Greater Action'

15 Oct, 2018

Stocks have dropped as much as 9% since Khashoggi disappeared on October 2 after walking into the Saudi consulate in Istanbul. "This is happening at a time when Saudi Arabia is preparing for a big investment event and they don't need people suspending or pulling out investments", said Nadi Barghouti, head of asset management at Emirates Investment Bank in Dubai .

Musk denies Murdoch Jr in line for Tesla chairman post

14 Oct, 2018

Tesla will also establish a new board committee responsible for disclosures. James Murdoch , who is in the final stages of detaching from 21st Century Fox before most of it is formally acquired by Disney , has emerged as the favorite to replace Elon Musk as chairman of Tesla, the Financial Times has reported.

US President Trump calls the US Fed 'crazy', stock declines a 'correction'

12 Oct, 2018

Trump instead has placed blame squarely with the Fed . Three have PhDs in economics and three have law degrees. "I think we don't have to go as fast". The 10-year yield is now 3.20 percent, the highest in than seven years and up sharply form 2.82 percent in late August. He said the stock-market drop is "a correction that I think is caused by the Federal Reserve with interest rates".

IMF Defends Rate Hikes After Donald Trump Comments On US Federal Reserve

11 Oct, 2018

The People's Bank of China (PBOC) has lowered the amount of money banks must set aside as reserves, known as the reserve requirement ratio, four times this year to ensure adequate liquidity in the financial system to support the economy. More tariffs and their countermeasures "could lead to a broader tightening of financial conditions, with negative implications for the global economy and financial stability", the fund warned.

U.S. stocks end mixed amid trade deal, data

07 Oct, 2018

Passage of the deal by the US Congress is not expected until the spring of 2019, after November elections could shift control of the House of Representatives to Democrats from Republicans. And now for our farmers it's, as you know, substantially opened up much more. "The government has said repeatedly that it values a strong and vibrant dairy sector - they have once again put that in jeopardy by giving away more concessions", he added.

Tesla shares soar after Musk gets ousted as chairman

02 Oct, 2018

Under the settlement , which requires court approval, Musk will be allowed to stay as CEO but must leave his role as chairman of the board within 45 days. "The resolution is meant to prevent further market disruption and harm to Tesla's shareholders", SEC co-director of enforcement Steven Peikin said.

New training jet destined for CAFB

01 Oct, 2018

Boeing will deliver the first T-X aircraft and simulators in 2023. In a preview of today's announcement , Teal Group analyst Richard Aboulafia said the T-X was the focus of "the last undecided USA military aircraft competition for many years to come".

Michael Kors to buy Versace for $2bn

27 Sep, 2018

Hallowed Italian fashion house Versace , one of the few remaining big names in the business under family control, is close to a deal to be acquired by growing luxury juggernaut Michael Kors. Versace has been in talks with other buyers, including French fashion house Kering, sources told Reuters , however Kering considered the price too high.

Iran says Europe offers new trade proposals amid US sanctions

23 Sep, 2018

India is yet to take a call on complying with the U.S. sanctions on Iran. "Iranian oil exports are coming down pretty hard", said Roger Diwan, a veteran oil analyst at consultant IHS Markit Ltd. New Delhi: India may revert to paying Iran in rupees for the oil it buys from its third largest supplier as U.S. sanctions will from November 4 block use of United States dollars to settle such trades, a top official said on Thursday.

Merger of Vijaya Bank, Dena Bank & Bank of Baroda announced

19 Sep, 2018

The boards of the banks would meet separately to clear the merger. Over the past three years, banks have seen a large chunk of their loan books turning sour, while demand for fresh loans has remained low. Dena Bank has been placed under the prompt corrective action framework by the Reserve Bank of India with restrictions on lending, while Vijaya Bank is among the only two lenders to have reported a profit in 2017-18.

USA imposes fresh sanctions for Russian cyber-related activity

24 Aug, 2018

Russian Deputy Foreign Minister Sergei Ryabkov on Tuesday sharply criticized new US sanctions against Russia linked to North Korea . "I hope that our American partners will realise that this policy has no future at some point and we can start cooperating in a normal way".

Suspect Detained After Shots Fired at US Embassy in Turkey

21 Aug, 2018

The embassy closed this week for the Muslim holiday of Eid al-Adha. "We have no reports of any injuries and we are investigating the details" embassy spokesman David Gainer said. Embassy in Ankara, Turkey . The attack coincided with a deepening row between Ankara and Washington over the trial of a United States pastor in Turkey.

Musk's SpaceX could help fund take-private deal for Tesla

21 Aug, 2018

Musk repeatedly teared up during the Times interview , telling the newspaper that he nearly missed his brother's wedding as he worked 120-hour weeks and referring to an "excruciating" period of trying to meet the company's vehicle production goals.

Stocks, emerging market currencies rise on planned U.S.-China trade talks

18 Aug, 2018

U.S. Treasury Secretary Steven Mnuchin assured President Donald Trump at a cabinet meeting that sanctions were ready to be put in place unless Brunson was freed. For years Turkish firms have borrowed in dollars and lira to take advantage of lower interest rates. But according to Middle East Eye , Turkish diplomats said they could release Brunson anyway, subject to further concessions from the USA which could soothe diplomatic tensions and helping alleviate the diplomatic and ...

China, US to Resume Trade Talks This Month

17 Aug, 2018

There also remains a wide gap between the two sides over Washington's demands that Beijing improve market access and intellectual property protections for USA companies, and slash a $375 billion trade deficit with China. Earlier this month, China announced a list of $60 billion worth of US imports it plans to apply tariffs on, after Trump ordered officials to consider imposing a 25 percent tax on $200 billion worth of Chinese goods, up from an initial 10 percent rate.

Indian Rupee hits fresh record low of 69.61 per United States dollars

15 Aug, 2018

The rupee, he said, is still better compared to other currencies. There is "nothing at this stage to worry". It, however, recovered from the all-time low. Research Analyst at Anand Rathi Shares and Stock Brokers, Rushabh Maru said the rupee extended losses today on account of panic demand from importers.

Doubts grow over Elon Musk’s master plan to take Tesla private

09 Aug, 2018

It remained unclear who would fund the take-private deal. FILE PHOTO: Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, speaks at the International Space Station Research and Development Conference in Washington, U.S., July 19, 2017.

China threatens new tariffs on $60bn worth of USA goods

04 Aug, 2018

White House chief economic adviser Larry Kudlow warned China not to underestimate President Donald Trump . He said the Chinese economy was not strong enough to withstand a lengthy fight. But White House officials said formal talks between the countries have mostly lapsed as the economic restrictions have hardened. Beijing accused the United States of starting a trade war.

Amazon's quarterly profit tops $2 billion for first time

30 Jul, 2018

Olsavsky said Amazon's global advertising business is also growing at the "same rapid clip year-over-year". Looking ahead, Credit Suisse sees huge potential upside for Amazon in several newer verticals the company has doubled-down on in more recent years.

Charter Might Be Kicked out of NY

30 Jul, 2018

Unless overturned, this action will mean that Charter will no longer be permitted to operate in the state of NY. With its decision, the PSC determined "Charter failed to deliver the benefits to New Yorkers that were at the core of the merger approval".

Trump to Give Farmers Aid, but Farmers Aren't Thrilled

25 Jul, 2018

Several senators said the Trump administration's tariffs targeting China, Canada, and Europe are harming farmers, and they want to see trade agreements like NAFTA finalized. Stephen Kirchner, from the University of Sydney's United States Studies Centre said that the $14 billion soybean industry is one of the hardest hit USA agricultural exports, after China slapped a 25 per cent tariff on all oilseeds.

Farmers have mixed reactions to Trump's farm aid

25 Jul, 2018

Wisconsin Republican Sen. Ron Johnson said the unexpected move to manipulate trade through targeted subsidies 'is becoming more and more like a Soviet-type of economy'. Earlier this month, 25 percent tariffs on $34 billion of Chinese imports of machinery and electronics went into effect, prompting Beijing to respond with tit-for-tat tariffs on American exports of soybeans and other products.

‘Lahu ka lagaan’ ends: Sanitary products made tax free

23 Jul, 2018

GST exemption for sanitary napkins means that the input tax credit would now not be available to the manufacturer. Among several items on which GST was reduced include footwear, small televisions, water heater, electric ironing machines, refrigerators, lithium-ion batteries, hair dryers, vacuum cleaners, food appliances and ethanol.

Microsoft breaks $100bn in revenue

21 Jul, 2018

Microsoft now has three reporting segments: Productivity and Business Processes (covering Office , Exchange, SharePoint, Skype, and Dynamics), Intelligent Cloud (including Azure, Windows Server, SQL Server, Visual Studio, and Enterprise Services), and More Personal Computing (covering Windows, hardware, and Xbox , as well as search and advertising).

Trump threatens to hit all $505bn of Chinese imports with tariffs

21 Jul, 2018

Two more rate hikes are still expected this year; Trump's massive tax breaks have raised fears that they could accelerate inflation. Treasury yields edged lower on Thursday after President Trump said he disagreed with Fed policy on interest rates and objected to a strong dollar.

Iran to only trade with countries that import its oil

09 Jul, 2018

In a letter to United Arab Emirates Energy Minister and OPEC President Suhail Mohamed al-Mazrouei, Iran's Oil Minister Bijan Zanganeh said: " OPEC decisions by no means warrant any action by some of its member countries in pursuit of the call for production increase by U.S., politically motivated against Iran ".

EU warns US of boomerang effect if US imposes car levy

03 Jul, 2018

The European Commission, the EU executive that handles trade for the bloc, said on Monday it was trying to convince its USA counterparts that imposing such tariffs would be a mistake. The U.S. has complained about Chinese policies that Washington said either forced companies to relinquish key technology or allowed China to steal it outright.

Mattis arrives in China; NKorea to be key topic of meetings

28 Jun, 2018

The Wall Street Journal then reported Trump would soon block more tech exports to China and prohibit Chinese companies from investing in US technology. His successor, Larry Kudlow, is a self-proclaimed "free-trader", and is recovering from a heart attack. The last time a USA aircraft carrier transited the Taiwan Strait was in 2007, during the administration of George W.

OPEC meets Russian Federation and allies to agree oil output boost

25 Jun, 2018

Saudi Arabia said the move would translate into a nominal output rise of around 1 million barrels per day (bpd), or 1 percent of global supply, for OPEC and non-OPEC producers. Iran doesn't believe its customers will get waivers from the United States government that would allow them to continue crude purchases, Oil Minister Bijan Namdar Zanganeh said in a Bloomberg television interview on Friday.

Saudis take oil consumers' side as OPEC nears pivotal talks

24 Jun, 2018

In an historic agreement in late 2016 the OPEC + group of 24 nations chose to cut 1.8 million barrels of production to revive the oil market from its biggest slump in a generation. Zanganeh highlighted that Iran opposes any increase of oil production since the issue was not on the agenda of OPEC meeting. Opec sources said the final compromise also depended on whether Opec agreed to mention U.S.

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