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Elon Musk indicates taking Tesla private as he posts 'funding secured' tweet

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The BBC has been unable to verify the post was written by Mr Musk himself, but it has pushed the shares 6% higher. In that same tweet, he claimed that he has already secured the funding for doing so. If the tweet is serious (and not the work of hackers or a particularly wild night on the factory floor), it would allow Tesla to go private and inject some much-needed capital into the company. Read More »

Facebook asks big banks to share customer details

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Bancorp ( USB ) in the past year to determine whether potential offerings for bank customers on Facebook Messenger might be possible. At any rate, according to the WSJ , Facebook is not interested in using any data it would gain from banks for ad-targeting purposes. Read More »

NASCAR CEO Brian France charged with DUI

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Police suspected that the NASCAR CEO was intoxicated and found oxycodone pills on his person. "Mr. France was observed operating a 2017 Lexus northbound on Main Street failing to stop at a duly posted stop sign", a police release said. During the arrest, France name-dropped some powerful people he knows, including President Trump, according to TMZ . He stepped down as CEO so his son Bill France Jr . Read More »

Indra Nooyi to step down as CEO and Chairman of PepsiCo

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PepsiCo CEO Indra Nooyi will step down after 12 years of leading the food and beverage giant. Nooyi joined PepsiCo in 1994 and became the Chief Financial Officer in 2001. Mr Laguarta will be elected to the company's board of directors with effect from October 3. Prior to that, Laguarta served in leadership positions in the European and sub-Saharan Africa divisions. Read More »

Fiat-Chrysler red-flags Mahindra Roxor in the American market

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Fiat Chrysler Automobiles (FCA) has just filed a United States trade complaint in an effort to bar Indian automaker Mahindra from importing an off-road vehicle that looks eerily similar to its iconic Jeep model. Fiat Chrysler Automobiles (FCA) is unhappy with Indian automaker Mahindra & Mahindra Ltd. over its recently launched Roxor. Mahindra said Fiat Chrysler's complaint is without merit. Read More »

Pres. Trump Hosts MAGA Rally In Ohio

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Troy Balderson, who is running in Tuesday's special election for an open congressional seat. The crowd chanted "speaker of the House", a reference to the possibility that Jordan will seek the speakership after November's midterm elections. Mark Sanford of SC, have lost. In an interview on ABC News' "This Week", the Republican governor predicted a narrow win for Troy Balderson in the contest with Democrat Danny O'Connor - but blamed the tight race on "the chaos that seems to surround ... Read More »

Oil falls 2% on rising supply, concern about trade tensions

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The US, now the world's second-largest producer (tied with Saudi Arabia), also produces around 11m bpd according to data from the US Energy Information Administration. Also, crude stocks at the Cushing, Oklahoma, delivery hub for WTI futures were down, dropping by 1.3 million barrels, EIA data showed. Trade tensions "continue to weigh on the broader markets and obviously commodities", said Matt Sallee, who helps manage $16 billion at Tortoise Capital Advisors LLC in Leawood, Kansas. Read More »

Ryanair strike: Airline proposes third-party mediator for pilots union talks

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Ryanair's summer of strike chaos is set to continue next week as yet more Europe-wide action was announced yesterday. Ryanair cancelled 24 of around 2,300 daily flights after a second one-day strike by Irish pilots. The Forsa trade union , which had called for such mediation, welcomed Ryanair's response and said it would recommend it to pilots. In a statement, the SEPLA pilots' union said it filed the lawsuit at Spain's top-level National Court after a year of negotiations with ... Read More »

US Employers Added 157K Jobs in July, Unemployment Dropped to 3.9%

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On Friday, China's Commerce Ministry said a new set of proposed import tariffs on $60 billion worth of US goods are rational and restrained and warned that it reserves the right of further countermeasures in the intensifying trade war. Although labor shortage is a constant concern in the construction sector, it added 19,000 jobs in July, lifting its 2018 total so far to 170,000 (2017 total: 250,000). Read More »

Iran's Zarif Says China 'Pivotal' to Salvaging Nuclear Deal, China Agrees

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Iran has been furious over U.S. President Donald Trump's decision to pull out of an worldwide agreement on Iran's nuclear programme and re-impose sanctions on Tehran . Sanctions will also be reapplied to USA imports of Iranian carpets and foodstuffs and on certain related financial transactions. -Chinese trade relations. Read More »

Khabib vs McGregor set for October 6

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The undefeated Russian won the vacant UFC lightweight title against Al Iaquinta at UFC 223 after then-lightweight champion Tony Ferguson pulled out of a scheduled bout with Nurmagomedov due to an injury suffered days before the event. As it played, Diaz abruptly left the presser he was at and tweeted "I'm not fighting on that show (expletive) the UFC". "Let them fight alone, and decide everything there [in the cage]". Read More »

Global factory growth slowing; China-U.S. trade war biting

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Erin Ennis, senior vice president of the US China Business Council, said a 10 per cent tariff on these products is already problematic, but more than doubling that to 25 per cent would be much worse. In early July, the USA government imposed 25 per cent tariffs on an initial $34 billion of Chinese imports . "We would advise the United States to correct its attitude and not try to engage in blackmail". Read More »

Molson Coors to make cannabis-based drinks in Canada

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The deal is expected to close before September 30, just ahead of the proposed legalization of recreational marijuana in Canada. Pot edibles are expected to become legal in 2019. The Hydropothecary Corporation partners with Molson Coors, sending the cannabis company's stock skyrocketing on both the Canadian and American markets today. Read More »

White House tells China to fix trade practices

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The retaliation stands to further inflame tensions between the world's two biggest economies and echoes China's response to the previous round of tariffs which took effect last month. The latest round of USA tariffs would range between five per cent and 25 per cent and would hit 5,027 products - a variety of agricultural goods such as beef, as well as small planes, chemical components, textiles, liquefied natural gas and condoms. Read More »

Pastor row: United States and Turkey hold 'constructive' talks

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Cavusoglu, in comments to Turkish broadcasters, said he and Pompeo had also discussed potential joint steps the two countries could take regarding Syria's Idlib and Manbij. "They've been holding these folks for a long time". "The Turks were on notice that the clock had run out and it was time for Pastor Brunson to be returned and I hope they'll see this for what it is: a demonstration that we're very serious". Read More »

Even at $1 Trillion, Apple May Be Undervalued by Half

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Before the release of the iPhone , Apple was reporting revenue of less than $20bn and profits of less than $2bn from the sale of its Mac personal computers in 2006. "The five-year chart for all three companies show pretty steady upward climbs, but Alphabet's gains only tally 116 per cent versus almost 500 per cent for Amazon and 220 per cent for Apple ", Robert Martin of InvestorPlace Media wrote. Read More »

Apple hits $1,000,000,000,000

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The record-breaking performance apparently prompted a memo from Apple CEO Tim Cook , which Buzzfeed News was able to get its hands on just hours after he sent it out to his employees. In fact, Amazon, Alphabet, and Microsoft could soon be joining Apple over the $1 trillion threshold - currently, they're worth $886 billion, $844 billion, and $825 billion respectively. Read More »

China says foreigners should not interfere in Cambodia after election

The tariffs would affect food, chemicals, steel and aluminum and consumer goods ranging from dog food, furniture and carpets to auto tires, bicycles, baseball gloves and beauty products. China retaliated with tariffs of its own, and the us countered with tariffs on $34 billion in additional Chinese imports with tariffs on an additional $16 billion scheduled to take effect as soon as Wednesday . Read More »

Apple Stock Buyback Tops $20B In Second Quarter

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It doesn't come as a complete surprise that Apple was first to reach the mark and though I'm not a big fan of Apple it's hard to deny the impact they have had on technology over the last 20 years. Some analysts expected Amazon, which also has continued to turn out stellar earnings , to be first to the mark. Cook has put a focus on digital content and services, positioningAppleto make money from music, movies, apps, subscriptions and more - all sold to the vast "install base" of people ... Read More »

RBI rate hike worries real estate sector

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However, the message for interest rates remained one of gradual and limited increases as the central bank saw inflation only a fraction above its 2% target over the next few years. On the growth outlook, the MPC said the progress of the monsoon so far and a sharper than the usual increase in MSPs of kharif crops is expected to boost rural demand by raising farmers' income. Read More »

Oil prices rise, boosted by supply outlook

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On Tuesday, the U.S. Commerce Department reported personal income levels increased 0.4 percent in June, more or less stable for the year. Lately there has been no shortage of news, in part because of President Donald Trump 's penchant unexpected comments on Twitter, as well as his administration's effort to impose sanctions on Iran , the world's fifth biggest oil producer. Read More »

Bank of England set to raise rates to highest level since 2009

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It said its forecasts were based on bets by investors who expect another rate hike only in late 2019 or early 2020, with Bank Rate creeping up to 1.1 percent in late 2020. Alex Day asks: Will this affect the interest rate on student loans? However, it may be the case that when it comes to renewing that mortgage, the new fixed deals on offer - or the default variable mortgage rate that your deal reverts to - may have become a little more expensive. Read More »

Chipotle slumps after illness complaints linked to Ohio outlet

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More than 400 people said they fell ill after eating at an Ohio Chipotle that is thought to be at the center of an illness outbreak , according to a website that tracks foodborne illnesses. Lettuce was not properly cooled and beans were not held at a warm enough temperature. On Tuesday, shares of Chipotle were down more than 7 percent, to around $432, in afternoon trading. Read More »

Sales tax holiday starts Wednesday

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Some clothing , school supplies , and instructional materials will be exempt from sales and use tax. Arkansas' tax-free weekend will begin at 12:01 a.m. Senate Bill 226 has established the tax-free weekend as a permanent day. Some counties such as Jasper, Newton, Lawrence, Barry, and Dade will also still be collecting their county sales tax. Read More »

Apple becomes 1st private company worth $1 trillion

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Apple is benefiting from investor euphoria surrounding the tech sector broadly as well - and it could soon have company in the trillion dollar club. The iPhone maker was named as the only publicly listed USA company to be valued at $1,000,000,000,000 just before 5pm this afternoon. According to a quarterly report that Apple filed with the SEC on Wednesday, the company had 4,829,926,000 shares outstanding as of July 20, the most recent figure available. Read More »

USA considering higher tariffs on US$ 200 bil. of Chinese goods

China warned the USA against "blackmailing" Beijing amid reports Wednesday that President Trump is considering higher tariffs to force the Chinese back into trade negotiations. "The U.S. unilaterally exerting pressure on China will get the opposite of what it wants", he said. Investors fear an escalating trade war between Washington and Beijing could hit global growth, and prominent U.S. Read More »

Google reportedly planning a censored search engine for China

Google is working on a mobile search app that would block certain search terms and allow it to reenter China after exiting eight years ago due to censorship and hacking, according to U.S. Once the platform detects controversial keywords, it will filter and block websites that are now prohibited from visiting in China, like The New York Times , The Wall Street Journal , and effectively all adult entertainment content. Read More »

Elon Musk apologizes for behavior on infamous Tesla earnings call

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The company said it has cut back on capital spending by changing its strategy to produce the Model 3 on existing assembly lines, one in a giant tent, rather than adding all-new lines. Musk then put his signature optimism on display, saying it was Tesla's goal "to be profitable and cash-flow positive in every quarter going forward". Read More »

Trump imposes sanctions over Turkey's detaining of minister

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U.S. President Donald Trump threatened on Thursday to impose "large sanctions" on Turkey unless it frees the pastor, who is accused of helping the group Ankara says was behind a failed military coup in 2016. In the news release announcing the sanctions, Treasury Secretary Steve Mnuchin called Brunson's detention "unjust" and "simply unacceptable". Brunson, who had been jailed in Turkey for more than one and a half years on terror and espionage charges was released and will be put under ... Read More »

RBI in a tight spot, is expected to raise rates again

Earlier in June, the Central bank had hiked the interest rates by 25 basis points. RBI today hiked repo rate by 25 basis points, the first back-to-back rate hike since October 2013. However, it's important to note that just days ahead of the last RBI's monetary policy review in June, major banks had increased benchmark lending rates or MCLR (Marginal Cost of funds based Lending rate) by up to 0.1 per cent, making loans costlier for consumers. Read More »