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Earnings of Google parent Alphabet top Wall Street expectations

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Google said little about the fine, which regulators said is for anticompetitive behavior with its Android mobile operating system, in its earnings release. Alphabet, Facebook Inc and other leading application makers have become big forces in advertising as consumers globally, and in turn, advertisers devote increasing attention to smartphone and TV apps instead of newspapers and traditional TV broadcasts. Read More »

Japan urges caution over Trump's complaint on strong dollar

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The dollar index has risen 2.4% so far this year, led largely by Fed rate rises, strong macroeconomic data and nervousness about a full-blown tariff war. The shift in focus toward easing also comes after the central bank in July released 700 billion yuan in liquidity by cutting some banks' reserve requirements, prompted by concerns over tighter cash conditions and a potential economic drag from the US trade dispute. Read More »

Tesla shares plummet after reportedly asking suppliers for cash rebates

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Shares in the $52 billion electric vehicle and battery maker fell by as much as 6 per cent yesterday morning to $294.75 before recovering to $301.61 by lunchtime in NY, down 3.8 per cent. Musk further added that "it would not be correct" to apply historical cost savings to the current quarter. In early May, Musk cut off a Morgan Stanley analyst who had asked if the company should raise more capital while it could, even if it did not need it. Read More »

Tesla reportedly asks for money back on payments to suppliers

The Wall Street Journal reports that Tesla has asked some of its suppliers to refund the electric auto company money that it previously used to purchase parts and supplies for vehicle production. It would not be correct to apply historical cost savings to current quarter". Tesla in late June finally hit an important production target for the Model 3, its most accessibly priced electric auto. Read More »

McDonald's salad linked to food poisoning outbreak in 10 states

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The CDC reports that, at the moment, there is no correlation between the Cyclosporiasis outbreak at McDonald's and the ongoing outbreak of vegetable trays made by Del Monte. Note, the Florida case-patient purchased a salad while traveling in Kentucky. Cyclospora cayetanensis ( cyclospora ) is a parasite composed of a single cell, too small to be seen without a microscope. Read More »

Trump 'ready' to tax all Chinese imports

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President Donald Trump inveighed against interest rate hikes for the second consecutive day, claiming that the rising dollar is 'taking away our big competitive edge'. At the time of writing, the Euro was up 0.11% to $1.1737, the Dollar taking a dive over Trump's comments on FED monetary policy, with demand for U.S Treasuries likely to pressure yields over trade war jitters. Read More »

Mega Millions jackpot surges to $493 million

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Even so, it's almost half a billion dollars and that's nothing to scoff at. The lottery game's jackpot grew to a whopping $433 million this week after the July 17 drawing yielded no winners of the top prize. Two other jackpots have been awarded this year - $451 million on January 5 ( in Florida ) and $533 million on March 30 ( in New Jersey ). In fact, more than a million people won prizes in Friday night's drawing. Read More »

Ritz Products with Cheese Recalled Over Salmonella Fears

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A number of food recalls have been issued for goods sold in Atlantic Canada. Last week, Salmonella concerns prompted Flowers Foods to issue a similar nationwide recall for Swiss Rolls and a recall limited to Alabama, Florida, Georgia, North Carolina and SC for Captain John Derst's Old Fashioned Bread. Read More »

Pres. Trump tariff threats unlikely to yield trade deals

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While India doesn't have the same direct exposure to China-US trade as other EM economies, it is reliant on global fundings. "He doesn't want to move, and they've offered the US absolutely...no options regarding the issue of [intellectual property] theft and forced technology transfer". Read More »

Ritz recall: Certain snacks recalled due to salmonella concerns

The affected products contain whey powder, which the whey powder supplier has recalled due to the potential presence of salmonella . Young children, pregnant women, the elderly and people with weakened immune systems may contract serious and sometimes deadly infections, the agency said. Read More »

600 flights cancelled by Ryanair due to strikes

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Ryanair described the strikes as regrettable and said that the pilots involved - around 100 of 350 its pilots in Ireland - had refused to take part in a working group to resolve their complaints. "All affected customers have been contacted by email and SMS text message earlier today and we will re-accommodate or refund all of those whose flights have been disrupted". Read More »

Fiat Chrysler Picks Jeep's Manley to Replace Ailing CEO Marchionne

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His health worsened in recent days after he suffered complications from surgery on his right shoulder. The 66-year-old has made no secret of plan to hand over the wheel at FCA in 2019, along with his joint chief executive and chairman role at Ferrari , which was spun out of the company three years ago. Read More »

Dollar advances to 1-year high; Chinese yuan weakens

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The Australian dollar dipped 0.2 percent to $0.7405. At the time of writing, the Kiwi Dollar was down 0.78% to $0.6830. "The dollar is really reacting to this "goldilocks" effect of the economy and a slowly rising interest rate environment". Read More »

British Airways IT outage leaves travellers stranded

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The second event, on Wednesday evening, was blamed on a problem with a British Airways computer system. "We have apologised to our customers for the delay to their travel plans", British Airways said regarding the current cancellations and delays. Read More »

Dollar drops further on Trump's comments on currency, rate hike

US equity futures turned lower with European stocks on Trump's threat. "We have been ripped off by China for a long time". "Now it is taking 15 days or longer". But the yuan declined further Friday as the People's Bank of China (PBOC), which manages the currency by setting a daily trading band, weakened the central rate by the widest amount in two years. Read More »

Airbus seeks splash to end airshow with AirAsia wide-body order

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Chief Commercial Officer Eric Schulz linked the reticence to global trade tensions, telling analysts some Asian customers had asked Airbus not to fan growing disputes. Earlier, Boeing Commercial Airplanes committed to deploying a series of strategic partnership programmes to develop modern aviation service ecology in Việt Nam, including maintenance, fix and overhaul (MRO) and training for pilots, technicians and engineers to enhance the management and automation capabilities of airlines ... Read More »

PM Modi to interact with Saubhagya scheme beneficiaries today

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Most of the 18,000 villages that have been electrified were in remote, hilly areas, areas with poor connectivity. He said under Pandit Deen Dayal Upadhayay Gram Jyoti Yojana government strived to reach all dark corners of India. PM Modi interacted with people from villages across India that have been electrified in the last four years. A Class IX student from a village in Reasi district in Jammu and Kashmir thanked Modi for his efforts. Read More »

Australia: Unemployment rate stays at 5.4% in June - TDS

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An extra 51,000 jobs smashed market expectations, tripling the predictions of forecaster. Economists and policymakers have been sweating on the data, hoping continued record job creation eventually kicks stagnant wages into gear. "There are two real heroes, the businesses that create jobs and the people who went out there seeking them and got those jobs", said Mr Morrison. A Commonwealth Bank spending report to be released today suggests that an increase in employment is feeding through to ... Read More »

Commerce reviewing impact of uranium imports on national security

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The Commerce Department said Wednesday it will probe "whether the present quantity and circumstances of uranium ore and product imports into the us threaten to impair the national security". Canada is the world's second-largest producer of uranium after Kazakhstan, with 23 per cent of global production in 2016, said Natural Resources Canada. Read More »

Trump escalates his war with the Fed

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Auto tariffs would sharply escalate global trade tensions: The U.S. last year imported $192 billion in vehicles and $143 billion in auto parts - figures that dwarf last year's $29 billion in steel and $23 billion in aluminum imports. Louis Federal Reserve Bank President James Bullard said Friday. "The remarks certainly aren't an immediate threat to Fed independence, but they break with the tradition of respectful distance". Read More »

More pictures of the upcoming Samsung Galaxy Note 9 leak online

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Now a couple of images have been published on Chinese website Weibo and shows the U.S. version of Galaxy Note 9. From the looks of it, this is a Note 9 prototype that was somehow photographed in the wild. The Galaxy S10 Plus is already rumoured to feature a 5-lens camera system, which includes a triple-camera lens hardware at the rear side followed by dual front-facing shooters . Read More »

Trump Federal Reserve interest rate attacks echo Nixon disaster

Shortly after taking office, Trump withdrew from the Trans-Pacific Partnership (TPP), which he said would steal millions of jobs from Americans, while the North American Free Trade Agreement (NAFTA), signed by Canada, Mexico, and the United States, is now being renegotiated. Read More »

Microsoft tops estimates in quarterly results as cloud revenue surges

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These results are up 17% year-over-year, and many people will see this as a vindication of CEO Satya Nadella's renewed focus on hardware and cloud services. The More Personal Computing group logged $10.8bn in revenues up 16 per cent from the year-ago quarter. Even though Microsoft didn't release any new devices this quarter, the company has put out a number of Surface gadgets in recent months and sales are still going strong. Read More »

I’m ready to put tariffs on every import from China, Trump warns

The administration has also released a list of 10 per cent tariffs on an additional US$200 billion of Chinese goods, which could take effect as early as next month. When asked about the stock market possibly falling if the United States imposes duties on such a large amount of goods, Trump told CNBC: "If it does, it does". Read More »

Trump Slams Interest Rate Hikes, Ignoring Hands-Off Tradition Toward Fed

Trump tapped Powell, who had served as a governor at the USA central bank, to serve at its helm following Janet Yellen . Its rate hikes are meant to prevent the economy from overheating and igniting high inflation. Mr Trump also suggested that higher interest rates left the United States at a disadvantage when compared to the European Union, China and Japan, allowing their currencies to weaken as the USA dollar strengthens. Read More »

Trump says United States ready to tax all Chinese imports should need arise

Washington may slap import taxes on all $505 billion worth of Chinese goods should it become necessary if the trade conflict with Beijing escalates, US President Donald Trump told CNBC. The administration has also accused China of engaging in unfair trade practices by forcing American investors to turn over key technologies to Chinese firms. Read More »

USA crude rises 1%, on strong gasoline demand signals

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Production of crude topped 10.7 million barrels per day with production of natural gas hitting 4 million barrels per day, according to an analysis released by the American Petroleum Institute (API) Thursday. Fresh weekly data on United States commercial crude inventories on Tuesday and Wednesday will help gauge the strength of demand in the world's largest oil consumer. Read More »