Money

Elon Musk sued over proposal to take Tesla private

Elon Musk sued over proposal to take Tesla private The suit, which was filed in U.S. District Court for the Northern District of California , comes three days after Musk posted a tweet saying that he meant to take the company private at $420 a share and that funding was "secured". It would also remove the company from the glare of Wall Street that comes with reporting quarterly earnings publicly. But aside from the fact that Saudi is tryi... [Full Article...]

Rupee recovers from life low, up 23 paise

Rupee recovers from life low, up 23 paise On Tuesday, the rupee breached the 70-mark against the dollar, keeping its position as Asia's worst-performing currency this year intact. A customer hands rupee notes to an attendant at a fuel station in Mumbai , August 13, 2018. In a ray of hope, however, last month retail inflation fell to a nine-month low of 4.17% on declining vegetable prices. The currency crisis in Turkey, which had ... [Full Article...]

Turkey seeks global support for the Lira

Turkey seeks global support for the Lira Relations between the USA and Turkey have deteriorated since the failed military coup against Turkish President Recep Tayyip Erdogan in 2016. As President Recep Tayyip Erdogan lashed out at the USA, took higher rates off the table and said he wouldn't accept an worldwide bailout, traders pushed down Turkish assets in a selloff that spilled over to other developing economies. [Full Article...]

United States stocks close mixed amid trade tensions

United States stocks close mixed amid trade tensions The S&P financial index .SPSY fell 1.4 percent , among the biggest drags on the S&P 500 . The S&P 500 was in slightly positive territory most of the day, putting it once again close to the record high it hit January 26. Meanwhile, newly announced US sanctions against Russian Federation added to the turmoil. Sinclair ( SBGI.O ) dropped 2.4 percent after Tribune Media ( TRCO.N ) ended its ... [Full Article...]

'Stolen' plane from Seattle airport crashes into sea

'Stolen' plane from Seattle airport crashes into sea Its believed the pilot was killed in the crash , and authorities are still trying to figure out how someone could steal a commercial airliner and take off from a major USA airport unauthorized. She said she believed the plane was taken by "a single Horizon Air employee" and that no other passengers or crew were onboard. A short time later, the Horizon plane crashed on Ketron Island, a small... [Full Article...]

Economic turmoil hits Turkey, US bank stocks react

Economic turmoil hits Turkey, US bank stocks react Alan Madison, a spokesman for Borusan Mannesmann's U.S. subsidiary, said the company and its Turkish parent were still studying Trump's new proposal and declined to comment further. The lira tumbled about 10 per cent on Friday to another record low as investors worry about Erdogan's unorthodox economic policies and USA sanctions . [Full Article...]

Oil rallies as Iran sanctions kick in

Oil rallies as Iran sanctions kick in The U.S. has restored sanctions against Iran as as President Donald Trump reaffirmed plans to impose more penalties on the country's oil sales in November. The impact on the Iranian economy is expected to be harsh and the restrictions on oil and gas exports are expected to be harsher still. Oil Minister Dharmendra Pradhan had last month told Parliament that Iran had in April-June o... [Full Article...]

Buck a beer plan expected today

Buck a beer plan expected today Asked whether he was concerned that cheaper beer might contribute to substance abuse and other harms, Ford said he trusts Ontario consumers to make smart choices when it comes to alcohol, regardless of the lower price. The PC government's "buck-a-beer challenge" is really a challenge to see brewers produce beer more cheaply today than they did a decade ago, despite the higher associated costs. [Full Article...]

China hits back at US with $60bn tariff threat

China hits back at US with $60bn tariff threat The ministry also said that the U.S. measures violated the World Trade Organization rules and damaged China's interests. " Tariffs will make our country much richer than it is today", Trump said in another tweet . He told trade officials this week to consider raising that to 25 percent . "The implementation date of the taxation measures will be subject to the actions of the U.S., and Chin... [Full Article...]

Years After Going Public, Elon Musk Wants To Take Tesla Private

Years After Going Public, Elon Musk Wants To Take Tesla Private The broader timing of the tweet is also suspect, given Musk's recent public denunciations of Tesla's (equally vocal) critics. Tesla shares have been on the upswing since it reported on August 1 a bigger-than-expected second-quarter but signalled that it expects to reach profitability in the third quarter and remain in the black for the foreseeable future. [Full Article...]

Unemployment Rate Edges Down to 3.9% in July

Unemployment Rate Edges Down to 3.9% in July Hary Bottka, senior vice president at Randstad Sourceright, which manages hiring for clients in the manufacturing, financial services and health care industries, says companies are increasingly thinking about converting contract workers, over time, to permanent employees. [Full Article...]

RBI Hikes Repo Rate to 6.5%

RBI Hikes Repo Rate to 6.5% Governor Mark Carney and the other eight members of the bank's rate setting Monetary Policy Committee have been signalling that a hike is likely to come at some point in 2018 since their last hike in November previous year, and Thursday looks like the day it will happen. [Full Article...]

Iran refuses talks with USA under coercion

Iran refuses talks with USA under coercion But US President Donald Trump chose to reimpose punishing sanctions against Iran, whom he has accused of posing a security threat. President TrumpDonald John TrumpPastor at Trump rally prays to shield Trump from "jungle journalism" Bill Russell: Being criticized by Trump is the "biggest compliment you can get" Salmon farmers in California fear Trump will destroy their industry MORE pulle... [Full Article...]

China appeals for USA calm after new tariff threat

China appeals for USA calm after new tariff threat The process for enacting tariffs on the $200 billion in goods, which includes fish sticks, baseball gloves, handbags, spark plugs, yarn and hundreds of other products, is just getting started, with hearings set for later this month. Beijing retaliated with matching tariffs on the same amount of US exports to China. The administration is considering more than doubling planned tariffs on $200 bill... [Full Article...]

Apple Becomes First Public Trillion Dollar Company; Beats Amazon, Microsoft, And Google

Apple Becomes First Public Trillion Dollar Company; Beats Amazon, Microsoft, And Google However, Apple has always looked the most likely victor, as I noted in June: Apple is close to becoming the first United States company worth $ 1 trillion . It is a market development that has been in the pipeline for well over a year. Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, said Apple's lukewarm Friday was a temporary pause for the stock rather than a sign it could ... [Full Article...]

White House says Trump's resolve is firm on China trade

White House says Trump's resolve is firm on China trade Late on Friday, China's finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, with the extra levies ranging from 5 to 25 percent on a total value of goods less than half of that proposed by U.S. [Full Article...]

Loans to get costlier as RBI hikes repo rate again

Loans to get costlier as RBI hikes repo rate again Reverse repo rate stands adjusted to 6.25 percent and the marginal standing facility (MSF) rate and the Bank Rate has been adjusted to 6.75 percent. Naveen Kukreja, CEO and Co-founder, Paisabazaar.com: "Home loans will become costlier for fresh borrowers as and when the banks raise their respective MCLRs". [Full Article...]

Wisconsin's first sales tax holiday begins August 1

Wisconsin's first sales tax holiday begins August 1 Before families take advantage of tax-free weekend sales, Offers.com suggest that Ohioans utilize coupons, research store discounts, and utilize options like layaway and online ordering. Qualifying items in Missouri include clothing and shoes under $100, school supplies under $50 per transaction, computer software under $350, and computers under $1,500. [Full Article...]

Apple beats Microsoft, Google and Amazon to $1 trillion valuation

Apple beats Microsoft, Google and Amazon to $1 trillion valuation The company known for iPhones and the Mac computer is not the first publicly traded company to reach the $1 trillion mark. Apple's stock market value is greater than the combined capitalization of Exxon Mobil, Procter & Gamble, and AT&T. [Full Article...]

Elon Musk apologizes for brushing off analysts on past earnings call

Elon Musk apologizes for brushing off analysts on past earnings call He also said that production efficiencies should rise as more Model 3s are built, and he said that he expects to make to around 750,000 vehicles in calendar year 2020. But its cash burn rate was less than investors expected, and the company had $2.2 billion in cash at the end of the quarter. Additionally, it seems Tesla is keen to get unique game content into its cars, as Musk also tweeted job... [Full Article...]


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