Business

Bitcoin Drops Below $8000 Due to ETF Rejection

Bitcoin Drops Below $8000 Due to ETF Rejection Given the vast, global scale of the market, there's no way to guarantee investor protections against fraud and manipulation, the SEC claims. The SEC has also pointed out that more than 75% of the Bitcoin trading volume happens outside the US. [Full Article...]

After $120B Stock Tumble, Facebook Investors Claim Fraud

After $120B Stock Tumble, Facebook Investors Claim Fraud He claims the marketplace was "shocked" when the "truth began to emerge" from the social media giant. After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent today. But not to forget that his annual salary is $1 and also not to forget ever that he is among the top 20 billionaires with a net worth of $71 billion according to Forbes b... [Full Article...]

GOP lawmakers tell Trump aides of tariff concern

GOP lawmakers tell Trump aides of tariff concern Mr Juncker said the two sides agreed that as long as they were negotiating on trade, they would hold off on further tariffs, including potential USA tariffs on cars and auto parts. Mnuchin said there were no new developments on the dispute with China, which has been the target of most of Trump's trade policies. Germany's economy minister Peter Altmaier immediately hailed the news on Twitte... [Full Article...]

Amazon stock gets lift after profit surge

Amazon stock gets lift after profit surge The company said the category, including some other items, grew 132 per cent to $2.2 billion. Amazon , however, was the exception. Amazon did miss revenue expectations as the company brought in sales of $52.9 billion for its second quarter of fiscal 2018, below the $53.41 billion that analysts polled by Thomson Reuters forecasted. [Full Article...]

Putin praises Trump’s commitment to fulfilling campaign promises

Putin praises Trump’s commitment to fulfilling campaign promises The closed-door one-on-one meeting between Trump and Putin took place July 16 in Helsinki , Finland. However, efforts to achieve a detente have been fiercely resisted by the US lawmakers, including some in Trump's own Republican Party, who accuse him of being too friendly towards Putin. [Full Article...]

How major US stock indexes fared Thursday

How major US stock indexes fared Thursday The Dow Jones Industrial average pushed higher in the afternoon trading session, as optimism about trade discussions between the USA and the European Union encouraged the Big Board to take a positive direction. The 19 percent drop was the biggest decline for the company since it went public in 2012. Of the 148 S&P 500 companies that have reported earnings so far, 85.8 percent have topped estim... [Full Article...]

Victory Lap for Trump as He Boasts of 'Amazing' GDP Number

Victory Lap for Trump as He Boasts of 'Amazing' GDP Number TRUMP: "We're on track to hit the highest average annualized growth rate in over 13 years". "We're getting explosive growth in the second quarter because of trade", economist Ellen Zentner of Morgan Stanley tells the Times . This rate of growth, however, was less than what was forecasted by economists. The personal consumption expenditures price index, a key metric that the Federal Reserve... [Full Article...]

Facebook plans innovation hub in China despite tightening censorship

Facebook plans innovation hub in China despite tightening censorship Last year Facebook's messaging app WhatsApp was blocked in the run up to the country's twice-a-decade congress, and it has remained mostly unavailable since. Chinese social networking apps are now dominated by Tencent's WeChat, and QQ, each owning up to 1 billion users in China and overseas. Social networking giant Facebook is all set to open a research office in China. [Full Article...]

Twitter plunges as company moves to purge fake accounts

Twitter plunges as company moves to purge fake accounts The firm has been under pressure to suspend users for hate speech, abusive content and the spread of misinformation. According to Twitter , new tools to address "behaviors that distort and distract from the public conversation" introduced in Q2 have resulted in a 4% drop in abuse reports from search and 8% fewer abuse reports from conversations. [Full Article...]

Trump administration plans to help farmers hurt by global trade tensions

Trump administration plans to help farmers hurt by global trade tensions On the South Lawn, the president walked among a number of products manufactured across the nation, including a Lockheed Martin F 35 aircraft from Maryland, a Ford F-150 pickup truck from MI, a Newmar recreational vehicle from IN and a Ranger speedboat from Arkansas. [Full Article...]

European Union and United States kiss and make up on trade

European Union and United States kiss and make up on trade The U.S. and European Union will "hold off on other tariffs"' while negotiations proceed, as well as re-examine U.S. steel and aluminum tariffs and retaliatory duties imposed by the EU "in due course", Juncker said. agricultural products. Restrictions on the USA farmers' largest export market have caused sales and prices to drop, as China reached out to Brazil and Argentina to replace United S... [Full Article...]

Facebook loses $110 billion in value

Facebook loses $110 billion in value The stock, which plunged as much as 24% in after-hours trading Wednesday, had a cascading effect on competitors Snap and Twitter , which dropped , too. But the shedding is still notable because Facebook , until now, has only ever experienced growth in users quarter-to-quarter. "High expectations can be a remarkable burden, and the reaction is often brutal when they are missed, but the revenue... [Full Article...]

Met Office issues thunderstorms warning for the North East

Met Office issues thunderstorms warning for the North East The highest recorded temperature in 1976 was 35.6C (96.1F) on 28 June in Southampton. "Will we beat the United Kingdom record temperature of 38.5C (101.3F) recorded at Faversham in Kent on 3 August 2003?" Will Lang, chief meteorologist at the Met Office , said: "The heatwave conditions are coming to an end but it's another hot day in the east and south-east of England today with temperature... [Full Article...]

U.S., European Union agree to ease trade tensions

U.S., European Union agree to ease trade tensions European Union imports of U.S. soybeans will remain strong for economic reasons with talks between U.S. President Donald Trump and European Commission President Jean-Claude Juncker giving them only a symbolic boost, European traders and analysts said. [Full Article...]

Facebook loses $130 bn in just two hour, Zuckerberg $17 bn

Facebook loses $130 bn in just two hour, Zuckerberg $17 bn In fact, about 175 companies in the S&P 500 are worth less than the US$15.9 billion that vanished from the fortune of the Facebook Inc. Shares were down as much as 20 percent. But Wehner said the product has "lower levels of monetization", while adding that the company plans to invest in growing the service. The Facebook CEO was worth a mere $66.8 billion on Thursday afternoon according to ... [Full Article...]

Rouhani says Iran should respond to Trump's ‘empty threats’ with action

Rouhani says Iran should respond to Trump's ‘empty threats’ with action This has been the case throughout the 2017-2018 crude oil bull market, despite significant supply growth thanks to USA shale production. A better-performing greenback makes dollar-denominated gold more expensive for traders using other currencies, effectively making it less attractive for investors. [Full Article...]

Mega Millions winning numbers announced for $522 million jackpot

Mega Millions winning numbers announced for $522 million jackpot The winning numbers were 1, 2, 4, 19, 29 and 20. Six, worth $1 million each, were sold in Arizona, Massachusetts, Michigan, Minnesota and two in New Jersey. There is one winning ticket in the latest Mega Millions drawing. A winning ticket in California "won the $522 million jackpot", the statement said. [Full Article...]

Facebook’s stock plummets on worries about its user and revenue growth

Facebook’s stock plummets on worries about its user and revenue growth Despite the rocky quarter, Facebook shares had hit an all-time high before Wednesday's earnings report and its quarterly revenue was still up 42 percent from this time a year ago. Facebook said it had 1.47 billion daily active users in June, compared with the 1.48 billion average of analysts' estimates compiled by Bloomberg . [Full Article...]

[WATCH LIVE] China's Xi Jinping calls for rejection of global trade war

[WATCH LIVE] China's Xi Jinping calls for rejection of global trade war Transnet also received a sizable cash injection from the Commercial Bank of China, while other sectors of the economy also received investments from the Asian country. He said the fact that South Africa is part of the Brics bloc gives it access to funding. Ramaphosa has focused on revitalising Eskom, Africa's largest public utility, which has been embroiled in corruption scandals under former pr... [Full Article...]

U.S. and European Union should ‘drop all Tariffs, Barriers and Subsidies’, Trump says

U.S. and European Union should ‘drop all Tariffs, Barriers and Subsidies’, Trump says Farm products have borne the brunt of tariffs imposed by trading partners angered by U.S. trade actions, and Agriculture Secretary Sonny Perdue said the aid program will provide relief. The agriculture sector was already suffering before the president's tariffs. U.S. Treasury prices also eased and the 10-year note's yield US10YT=RR ended the day at a one-month high near 2.98 percent. [Full Article...]


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