Business

Ryanair braces for biggest ever one-day strike

Ryanair braces for biggest ever one-day strike Ryanair employees are on strike in Germany , Ireland , Sweden , Belgium and the Netherlands, forcing the firm to cancel 394 flights. A total of around 400 flights Europewide have been cancelled due to the strike action, AFP reported - equating to around 55,000 passengers. [Full Article...]

Turkey's Erdogan Calls On Turks To Dump Dollars, Euros

Turkey's Erdogan Calls On Turks To Dump Dollars, Euros The country's economy was already in trouble, but the lira's selloff was heavily compounded by Donald Trump's announcement that he was doubling tariffs on Turkish steel and aluminum . "Some countries have engaged in behavior that protects coup plotters and knows no laws or justice", he said. Washington "must give up the misguided notion that our relationship can be asymmetrical", he said ... [Full Article...]

U.S. media criticizes Trump's tariffs decision on Turkey

I have just authorised a doubling of tariffs on steel and aluminium with respect to Turkey as their currency, the Turkish lira , slides rapidly downward against our very strong dollar! That turned into a rout on Friday, with the currency diving as much as 18 per cent at one point, the biggest one-day drop since a 2001 financial crisis in Turkey. [Full Article...]

Lira plummeting further into crisis ensures a brutal conclusion to eventful week

Lira plummeting further into crisis ensures a brutal conclusion to eventful week But the trade minister, Ruhsar Pekcan, said: "We implore President Trump to return to the negotiating table". A 20 percent fall in exports would only reduce GDP by 0.1 percentage point or less per year in the 19 countries that use the euro currency. [Full Article...]

Oil Prices Steady After Sharp Fall

Oil Prices Steady After Sharp Fall Some analysts said that global crude supply losses could range from 600,000 to 1.5 million barrels per day due to the re-imposition of USA sanctions on Iran . U.S.net imports of crude oil is a very important value for the oil price movements. Front-month Brent crude oil futures LCOc1 were down 38 cents on the day at $74.27 a barrel by 1227 GMT, while USA crude futures CLc1 were down 67 ce... [Full Article...]

Ford's buck-a-beer plan likely to cost LCBO revenue

Ford's buck-a-beer plan likely to cost LCBO revenue He also indicated there are no tax incentives involved and tax payers' money will not be used. "We're bringing back buck-a-beer to Ontario". The minimum retail price for beer was $1 in Ontario between 2005 and 2008, before the government banned it in 2008. [Full Article...]

Washington farmers worry about Chinese tariffs

Washington farmers worry about Chinese tariffs Last month, the United States imposed duties of 25 percent on Chinese imports worth $34bn. It is the second time the USA has slapped tariffs on Chinese goods , despite persistent warnings by American businesses it will raise the price of goods for consumers. [Full Article...]

NYC sets limit on Uber and Lyft vehicles

NYC sets limit on Uber and Lyft vehicles The Council also voted to set a minimum driver wage equivalent to the yellow cab wage for app-based drivers. "The city's 12-month pause on new vehicle licenses will threaten one of the few reliable transportation options while doing nothing to fix the subways or ease congestion", said Uber spokesperson Danielle Filson. [Full Article...]

SEC probes Tesla over Musk's tweet on taking company private

SEC probes Tesla over Musk's tweet on taking company private The SEC has previously ruled that using social media to disclose company news is OK, as along as investors have been told that those channels may be used. The deal would be the biggest leveraged buyout of all time, beating the $45 billion record set by Texas power utility Energy Future Holdings. However, Musk expects the shareholders to agree with him and allow him to take the company private ag... [Full Article...]

Snapchat loses three million users in three months

Snapchat loses three million users in three months Saudi Arabia's Prince Alwaleed bin Talal announced soon after the second-quarter results that he had finalized a $250 million (roughly Rs. 1,700 crores) deal in May to buy a 2.3 percent stake in Snap. Revenue was forecast at $251.2 million. Analysts on average expected Snap to gain almost 2 million users in the second quarter from the first quarter, according to Thomson Reuters I/B/E/S. [Full Article...]

China says it's ready for protracted trade war with US

China says it's ready for protracted trade war with US China's finance ministry said duties ranging from 5 per cent to 25 per cent would be levied on 5,207 kinds of imports from America if the U.S. implemented its proposed taxes on another $200bn of Chinese goods. Noticeably absent from the latest list is polysilicon, the main ingredient in solar cells, which the USA does export to China. "We used to pay just 24 percent tariffs for U.S. [Full Article...]

Saturday marks first-ever Barack Obama Day in IL

Saturday marks first-ever Barack Obama Day in IL Former U.S. President Barack Obama was honored in IL on Saturday as the state's first annual " Barack Obama Day" was officially kicked off. Nancy Pelosi wrote : "Happy birthday, President @ BarackObama! ". "It's incredibly proud for IL that the president came from IL". The photo was taken last week when the pair stopped to have lunch at a Georgetown bakery. [Full Article...]

Fetus discovered on plane from Charlotte to NY

Fetus discovered on plane from Charlotte to NY The plane was in a hangar and had arrived in NY from Charlotte, North Carolina, on Monday night. The fetus was discovered by airline cleaning staff in a restroom aboard American Airlines Flight 1942 after it landed, the official told the Observer. [Full Article...]

Elon Musk weighs go-private deal for Tesla

Elon Musk weighs go-private deal for Tesla The company had a market value of $58 billion as of Monday's close. Tesla CEO Elon Musk says he is considering taking the electric auto maker private. In a blog post on Tesla's website, Mr. Musk said taking Tesla private , in what analysts expect could be the largest leveraged buyout in USA history, would allow the company to ignore the pressures of the stock market and focus on long-term... [Full Article...]

Turns Out Musk Might Actually Be Serious About Taking Tesla Private

That would value the company - already the United States' most valuable automaker - at more than $70 billion. Musk's offer is 9 per cent higher than Tesla's peak closing price of $385 reached almost a year ago. Not long after the announcement, Tesla's stock surged 6.8 percent to $365.36 - adding $900 million to Musk's fortune in the process. However, Mr Musk has said he has no plans to do so a... [Full Article...]

Longtime PepsiCo CEO Indra Nooyi is stepping down

Longtime PepsiCo CEO Indra Nooyi is stepping down Previously, Laguarta served as chief executive officer, Europe Sub-Saharan Africa. Ravi Jaipuria of Varun Beverages Ltd, the largest bottling partner of PepsiCo India, also did not respond to calls and messages seeking comments. She joined Pepsico in 1994. He must also find a way to ignite sales of diet soda, which has lost market share to rival Coca-Cola. For PepsiCo, the Indian business contin... [Full Article...]

Facebook Asks Major US Banks To Share Customer Details

Facebook Asks Major US Banks To Share Customer Details Facebook is pushing back against a report in Monday's Wall Street Journal that the company is asking major banks to provide private financial data. ( JPM ), Wells Fargo & Co. "We also don't have special relationships, partnerships, or contracts with banks or credit card companies to use their customers' purchase data for ads". [Full Article...]

NASCAR Chairman Brian France arrested for DWI, possession of controlled substance

NASCAR Chairman Brian France arrested for DWI, possession of controlled substance Sunday near the Sag Harbor waterfront. "Upon traffic stop, it was determined that Mr France was operating said vehicle in an intoxicated condition". In a later statement Monday afternoon, NASCAR said France has "taken an indefinite leave of absence ". NASCAR provided the following statement on the arrest. [Full Article...]

Khabib vs McGregor set for October 6

Khabib vs McGregor set for October 6 After naming major fights for the upcoming months, UFC 229 was curiously omitted, which led to speculation that a McGregor-Nurmagomedov fight would be announcd. "And obviously for Conor, coming back from a two-year layoff, in my opinion - and it's insane to say this because of how popular he is around the world - but he's one of the most underrated fighters in the UFC . [Full Article...]

Will you attend Trump's rally in DE next week?

Will you attend Trump's rally in DE next week? Though boisterous and bellicose, Trump steered clear of the trouble he stirred up the night before when he blasted one of Ohio's favorite sons, LeBron James on Twitter, questioning James' intelligence. He won late endorsements from President TrumpDonald John TrumpPastor at Trump rally prays to shield Trump from "jungle journalism" Bill Russell: Being criticized by Trump is the "biggest compliment... [Full Article...]


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