Business

Oil prices hit four-year-high of $81 amid looming Iran sanctions

Oil prices hit four-year-high of $81 amid looming Iran sanctions US West Texas Intermediate (WTI) crude futures were at $72.27 a barrel, up 19 cents, or 0.3 percent from their last settlement. On Sunday, Iranian oil minister Bijan Zanganeh said Trump's tweet "was the biggest insult to Washington's allies in the Middle East". [Full Article...]

Instagram co-founders quit

Instagram co-founders quit The co-founders of Instagram have quit and become the latest high-profile employees to step down from the helm of Facebook-owned companies. Zuckerberg ally Chris Cox, who leads product development for Facebook's main app, gained oversight of WhatsApp and Instagram, which had been given independence when Facebook bought them. [Full Article...]

Michael Kors close to buying Versace for $2.4B

Michael Kors close to buying Versace for $2.4B A spokesman for Blackstone had no comment. French fashion houses including Paris-based Kering were among those holding talks with the Versace family, the sources said, but considered the price too expensive. Corriere della Sera reported earlier that Versace could be sold this week for about $2 billion, with several groups interested including Kors and Tiffany & Co LVMH, PVH Corp and Tapestr... [Full Article...]

Six Flags St. Louis Offers Perks for Customer Coffin Time

Six Flags St. Louis Offers Perks for Customer Coffin Time The coffins have been outfitted with phone charging stations, so inhabitants can Instagram their experiences from the other side. During this year's Fright Fest, Six Flags St. Their coffin! That's right - the handcrafted coffin is yours to keep! To be considered for the challenge you must submit a registration application before midnight, October 3. [Full Article...]

ABC sacks Michelle Guthrie as Managing Director

ABC sacks Michelle Guthrie as Managing Director David Anderson , the ABC director of entertainment and specialist, will serve as acting managing director until a formal search process finds Ms Guthrie's successor. But others have a different view of Ms Guthrie's legacy. Multiple editorial complaints were lodged by the Prime Minister's Office and by Communications Minister Mitch Fifield during Ms Guthrie's tenure. [Full Article...]

President Trump's Latest Tariffs on Chinese Goods will Hurt Consumers

President Trump's Latest Tariffs on Chinese Goods will Hurt Consumers The advertising targets a state critical to Trump and Republicans as the trade war between the world's two largest economies intensifies. The two countries have already slapped tariffs on $50 billion worth of each other's goods earlier this year. [Full Article...]

Iran says oil to rise as Saudi, Russia do 'little and late'

Iran told OPEC its production had been steady in August at 3.8 million barrels per day. Trafigura Group co-head of oil trading Ben Luckock sees $90 oil by Christmas and $100 in early 2019. Washington has already implemented financial sanctions against Iran and it plans to target the country's oil exports from November 4, putting pressure on other countries to also cut Iranian crude imports. [Full Article...]

Porsche says bye bye to diesel engines

Porsche says bye bye to diesel engines The German manufacturer says it'll concentrate on petrol, electric and hybrid engines. You've not been able to buy a new diesel Porsche since February, when the company quietly halted sales of the Panamera 4S Diesel - once the world's fastest oil-burner - and Macan S Diesel amid falling sales and the introduction of stricter emissions testing. [Full Article...]

India engages with US to ensure energy security amid Iran sanctions

India engages with US to ensure energy security amid Iran sanctions With the approach of United States sanctions, Japanese refiners have stepped up alternative crude imports from the Middle East and elsewhere. Currently, India pays its third largest oil supplier in euros using European banking channels. The US has told India and other countries to cut oil imports from the Gulf nation to "zero" by November 4 or face sanctions. India has also offered to cut its oi... [Full Article...]

Trump demands OPEC lower oil prices: 'We will remember'

Trump demands OPEC lower oil prices: 'We will remember' Investors are also turning their focus to Sunday's OPEC meeting with allies for clues on whether the group will boost output again after President Donald Trump called on the cartel to rein in prices. For this year's April-to-September driving season, the Energy Information Administration expects United States petrol prices to be up 19% from a year ago, mostly because of expectations for high... [Full Article...]

OPEC chief: Cartel must stay together as US sanctions Iran

OPEC chief: Cartel must stay together as US sanctions Iran Saudi Arabia has mentioned several times recently that they have no desire to push oil prices over $80/barrel, a move higher may be unavoidable as U.S. Yesterday, Russian Energy Minister Alexander Novak said all possible scenarios for oil output could be discussed at a meeting of OPEC and non-OPEC states in Algeria this month. [Full Article...]

Audi launches electric SUV in Tesla's backyard, with help from Amazon

Audi launches electric SUV in Tesla's backyard, with help from Amazon Electrify America will eventually set up thousands of high-speed chargers, including more than 800 at WalMart outlets, as well as Level 2 systems. A new generation of the quattro drive, the electric all-wheel drive, ensures excellent traction and dynamics. [Full Article...]

Pressure problem: 30 passengers fall ill on India flight

Pressure problem: 30 passengers fall ill on India flight As per their preliminary examination by ENT doctors, the five passengers suffered "barotrauma" of ear, which is caused due to a change in air pressure, said Rajendra Patankar, chief operating officer at the hospital. 20, 2018 in this still image obtained from social media. "The crew announced that the plane will return.it then circled half-an-hour before landing". [Full Article...]

Amazon May Open 3,000 Stores in Next Three Years

Amazon May Open 3,000 Stores in Next Three Years The cashierless shops allow customers to load up on snacks and walk out without the hassle of standing in line as the store sends a bill later.While Seattle and Chicago are already living the dream, Amazon is now considering a plan to open upwards of 3,000 cashierless stores over the course of the next few years, according to AdAge . [Full Article...]

FACT CHECK: Has Coca-Cola Entered Negotiations to Produce Cannabis-Infused Beverages?

FACT CHECK: Has Coca-Cola Entered Negotiations to Produce Cannabis-Infused Beverages? That was after an announcement earlier in August from cannabis company HEXO that it was teaming up with Molson Coors Canada to develop cannabis-infused drinks. " The space is evolving quickly", Coca-Cola said. These reports prompted several inquiries from readers about the veracity of claims that Coca-Cola was already in negotiations over a beverage that would contain CBD (cannabidiol). [Full Article...]

US Tariffs Now Include Wireless Routers, China Responds

US Tariffs Now Include Wireless Routers, China Responds The tariffs will place an additional 5-percent in duty on US products including smaller aircraft, computers and textiles, and an extra 10-percent on goods such as chemicals, meat, wheat and wine. Reports say senior government ministers are meeting in Beijing on Tuesday, while China is reviewing plans to send a trade delegation to Washington for talks next week, according to the South China Mo... [Full Article...]

Dena, Vijaya, BoB to merge and form country’s 3rd largest bank

Dena, Vijaya, BoB to merge and form country’s 3rd largest bank The government had merged five associate banks and Bharatiya Mahila Bank with SBI on April 1, 2017, to catapulte the country's largest lender to among the top 50 banks in the world. The government owns majority stakes in 21lenders, which account for more than two-thirds of banking assets in the Asia's third biggest economy. Vijaya Bank shares traded at Rs 60.55, up Rs 0.75 and Dena Bank shares tra... [Full Article...]

Trump claims China tariffs successful

However, some products that help computer networks operate, such as routers, remain on the latest list. More than 300 products were removed from that list - including smartwatches, health and safety devices and children's playpens. The duties take effect September 24 at a 10 percent rate. United States trade officials held public hearings in late August on the proposed escalation, hearing from d... [Full Article...]

Trump raises stakes with new round of China tariffs

Trump raises stakes with new round of China tariffs Earlier in the day the President tweeted: "Tariffs have put the United States in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country - and yet cost increases have thus far been nearly unnoticeable". [Full Article...]

Needle-in-strawberry scare spreads across Australia

Needle-in-strawberry scare spreads across Australia The Queensland police commissioner, Ian Stewart , said the investigation was complicated by the vast web of supply chains. The Strawberry Growers Association of Western Australia has warned that without support, "the industry will be forced to abandon their crops or continue dumping fruit and we may not have a strawberry industry next year", according to the West Australian site. [Full Article...]


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