Business

Maharashtra, Gujarat cut fuel prices by Rs 2.50; Kerala, Karnataka refuse

Maharashtra, Gujarat cut fuel prices by Rs 2.50; Kerala, Karnataka refuse Finance Minister Arun Jaitley in a press conference announced a cut in excise duty on fuel prices by Rs 2.50. The Gujarat Chief Minister tweeted that it has matched the central government's reduction, and that petrol and diesel are now cheaper by Rs 5 per litre. [Full Article...]

Donald Trumps heralds 'new dawn' with trade deal

Donald Trumps heralds 'new dawn' with trade deal Wisconsin's Grassland Dairy blamed the policy for lost sales which the processor said forced it to cut milk contracts for dozens of state farmers last spring. But he now accepts that it simply sorts the markets in order of size. "We celebrate a trilateral deal". No", Hill said. "We have to remember that OH is the single largest importer of goods that are targeted by Canada's retaliatory [tariffs... [Full Article...]

Britain’s Tesco takes on discount rivals with launch of Jack’s

Britain’s Tesco takes on discount rivals with launch of Jack’s CEO Dave Lewis said food and drink items will go on sale at "the lowest possible prices", as Britain's largest retailer fires the latest shot in a highly competitive sector, often described as "supermarket wars". However, its dominance is threatened by Aldi and Lidl, which combined enjoy a 13.1 per cent share of the grocery market. "We leverage the size and expertise that's available to Tesco ... [Full Article...]

Amazon increases its minimum wage to $15

Amazon increases its minimum wage to $15 U.S. Senator Bernie Sanders , who consistently pressed Amazon on the issue, recently introduced the Stop BEZOS Act , which sought to tax companies with employees who earned wages low enough that they received federal welfare benefits. Workers have been protesting against fast food chains like McDonald's Corp. and demanding wage increases since 2012. Amazon also said it was ending some restrict... [Full Article...]

John Flannery ousted at GE after less than 2 years

John Flannery ousted at GE after less than 2 years His departure makes him the shortest-serving chief executive in GE's 126-year history. General Electric has ousted its chief executive, installing new leadership for the second time in two years as it struggles to return to growth. Whispers of Culp eventually taking the helm at GE circulated nearly as soon as he joined the board in April. Flannery is being replaced by H. Lawrence Culp Jr., the... [Full Article...]

Musk Sees "Victory" Tuesday, SEC Deal: Tesla Jumps

Musk Sees 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 Commission said Musk sent the tweet even though he "allegedly knew that the potential transaction was uncertain and subject to numerous contingencies", causing "significant market disruption". [Full Article...]

Amazon to raise minimum wage to $15 for US employees

Amazon to raise minimum wage to $15 for US employees But there's some good news, because the company has announced it's raising the minimum wage for its United Kingdom employees to £9.50 a hour - or £10.50 an hour if they're based in London. At the new pay rate, an Amazon employee who makes minimum wage would need to work more than 3 weeks (133 hours) to buy one share of the company's stock, which now sits above $2,000. [Full Article...]

With NAFTA sorted, focus shifts to aluminum and steel tariffs

With NAFTA sorted, focus shifts to aluminum and steel tariffs All in all, the new NAFTA is definitely a modern and updated version of its important predecessor, which the U.S. Department of Agriculture characterized as one of the most successful trade agreements in history. Bothwell Cheese executive vice president Wally Smith says he is concerned about what increased market access will look like. "With #USMCA, we have a new name, but a worse deal", Singh... [Full Article...]

Facebook Facing $1.63 Billion EU Fine Over Recent Hack

Facebook Facing $1.63 Billion EU Fine Over Recent Hack Due to the hack, Facebook has already reset these access tokens. It's a serious flaw: Not only do the access tokens provide access to Facebook itself, but to any third-party site which uses Facebook's single sign-on (SSO) system - many of which, like music streaming service Spotify , handle financial details. [Full Article...]

Canadian dairy farmers' group pans new trade pact with U.S., Mexico

Canadian dairy farmers' group pans new trade pact with U.S., Mexico Despite Trump's rhetoric, the new agreement keeps the framework of NAFTA largely intact, maintaining the status quo of free trade between the three countries. One of the officials said the discussions between Canada and the US were ongoing, but progress was being made. The pact, underpinning $1.2 trillion in annual trade, is based on "fairness and reciprocity", according to Trump, who added th... [Full Article...]

California passes net neutrality law, Trump administration sues

California passes net neutrality law, Trump administration sues Federal Communications Commission Chairman Ajit Pai voiced support for the federal lawsuit in a statement . The new law prohibits internet providers from blocking or slowing data based on content or from favoring websites or video streams from companies that pay extra. [Full Article...]

Tesla shares soar 16% after Elon Musk settles fraud lawsuit with regulator

Tesla shares soar 16% after Elon Musk settles fraud lawsuit with regulator Tesla jumped as much as 19% to $315.45 at 7:45 am NY time, more than enough to offset Friday's 14% plunge. But the claim on August 7 that he had the funding to take Tesla private, and a subsequent U-turn, stunned Wall Street and came amid public appearances which saw Musk smoke marijuana live on air and call a British diver in the Thai cave rescue a "pedo". [Full Article...]

Tesla shares spike after Elon Musk settles with SEC

Tesla shares spike after Elon Musk settles with SEC The $40 million in financial penalties "will be distributed to harmed investors under a court-approved process". Musk's tweet about taking his company private, along with attacks on critics on social media, raised concerns with investors about whether Musk has become too focused on criticism from so-called short-sellers who had been making bets against him and Tesla . [Full Article...]

Where to get java deals and freebies on National Coffee Day

Where to get java deals and freebies on National Coffee Day This deal isn't limited to National Coffee Day though - so if you're still craving a cheap brew on Sunday, Mickey D's has got you covered. Krispy Kreme: Get a free coffee, any size, at participating locations Saturday. You can also stop by Whole Foods for Allegro 12-ounce packaged coffee for a BOGO promotion that lasts until September 30. Most slots are already snapped up, but there's a wa... [Full Article...]

Fed raises interest rates, flags end of 'accommodative' policy

Fed raises interest rates, flags end of 'accommodative' policy The Federal Reserve is set to announce at 2 p.m. ET that after a two-day policy meeting, it chose to raise interest rates . I interpreted the Fed as dovish because it dropped the word "accommodative" from its monetary policy statement and Federal Chairman Powell downplayed the fear of inflation spiking to the upside. [Full Article...]

Elon Musk reportedly walked away from settlement with SEC

Elon Musk reportedly walked away from settlement with SEC It's not clear that Musk will be removed, as he is denying the allegations, but the possibility jolted investors because Musk is seen as nearly synonymous with Tesla . Musk had without evidence called Unsworth a "pedo guy" and "child rapist" after he had mocked Musk's plan to save the teammates with a miniature submarine. [Full Article...]

Tesla building own car carriers to boost deliveries: Musk

Tesla building own car carriers to boost deliveries: Musk Hopefully, we will get to see these new vehicle carriers in action soon. Chief Executive Officer Elon Musk was at the company's delivery hub in Fremont, California, on Saturday, according to a customer's tweet, while many longtime Tesla owners are heeding his call to volunteer at local delivery centres. [Full Article...]

Trump says he rejected meeting with Canada's Trudeau

After meeting with Israeli Prime Minister Benjamin Netanyahu on Wednesday, Trump announced his support for a two-state solution for Israel and Palestine, Axios reports . Get direct access to our top weekly content, contests, and perks. . 'And frankly, we're thinking about just taxing cars coming in from Canada. As the relationship between Trump and Trudeau continues to worsen, it's unclear what... [Full Article...]

US Federal Reserve raises interest rates amid strong growth

US Federal Reserve raises interest rates amid strong growth Reacting to the policy move, the USA stocks gave up all gains in the last 30 minutes of trade to end lower. At the same time as the U.S. has seen rates rise, in the United Kingdom and the eurozone they have remained around the ultra-low levels to which they were slashed during the crisis. [Full Article...]

Price of oil could reach $100/barrel by late 2018 or early 2019

OPEC leader Saudi Arabia and its biggest oil-producer ally, Russia , on Sunday rebuffed a demand from Trump for moves to cool the market. The group is faced with a steep drop in Iran supply and Venezuela's slumping output, while production growth from the U.S.is slowed by pipeline bottlenecks. [Full Article...]


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