Economy

Services drove Apple’s best third quarter ever, but iPhone sales aren’t growing

Services drove Apple’s best third quarter ever, but iPhone sales aren’t growing However, a mix of strong revenue today and a market valuation that's closing in on $1 trillion are hyping Apple's stock price to record levels in after hours trading. Maestri told Reuters that sales from Apple Care, the company's warranty offering, were up 27 percent versus a year ago, though the company did not disclose a dollar figure for sales. [Full Article...]

For Big Mac's 50th anniversary, McDonald's is giving away free burgers

For Big Mac's 50th anniversary, McDonald's is giving away free burgers That day would have been the 100th birthday of Jim Delligatti, the man who invented the Big Mac almost 50 years ago, McDonalds CEO, Steve Easterbrook told USA Today . McDonald's sold 1.3 billion Big Macs previous year, according to the chain. The early '00s specifically focuses on the technology that was at the forefront of the turn of the century. [Full Article...]

European Union and USA partners not enemies, Juncker tells Trump

European Union and USA partners not enemies, Juncker tells Trump Trump agreed on Wednesday to refrain from imposing vehicle tariffs while the two sides launch negotiations to cut other trade barriers. The leaders also agreed that as long as negotiations were ongoing, "we'll hold off further tariffs and reassess existing tariffs on steel and aluminum", Juncker said. [Full Article...]

Amazon’s quarterly profit tops $2 billion for first time

Amazon’s quarterly profit tops $2 billion for first time With a market value of $916.97 billion, Amazon is racing with Apple Inc and Alphabet Inc to be the world's first trillion-dollar public company. The online retailing giant's Amazon Web Services (AWS) cloud business is the key profit maker, up almost 48.9 percent to 6.11 billion dollars in sales. [Full Article...]

France sounds cautious note after crunch European Union talks with US

France sounds cautious note after crunch European Union talks with US He tweeted work on documents was "moving along quickly", adding that the meeting had "great warmth". Still, however, the Republicans in the room brought up that farmers are now feeling significant pain because of shrinking markets, and that the administration needs to finalize and rework trade agreements with foreign partners as soon as possible. [Full Article...]

Milestone for Facebook as It Plans to Set-up China Tech Hub

Milestone for Facebook as It Plans to Set-up China Tech Hub This isn't a brand new idea: the piece notes similar Facebook hubs in France, Brazil, India and South Korea. Facebook's photo-sharing service Instagram and its messaging platform WhatsApp are also blocked in China . Instead, Chinese users can only access domestic social media sites such as Weibo, Renren and YouKu, which the government can monitor. "Right now, there isn't an intersection". [Full Article...]

Twitter stock sinks after reporting decline in active users

Twitter stock sinks after reporting decline in active users Both Twitter and Facebook moved to crack down on bots and fake accounts after learning of efforts to manipulate the social platforms during the 2016 USA presidential election. They were all attacked by foreign fraudsters during the 2016 USA election looking to disrupt the online discourse and spread fake news. The company has said most of the blocked accounts were revoked within the first 30... [Full Article...]

Mark Zuckerberg’s fortune tumbles $16.8 billion in a day

Mark Zuckerberg’s fortune tumbles $16.8 billion in a day Investors lashed out at the stock after digesting the company's weak financial forecast and middling second-quarter numbers delivered after the closing bell yesterday. They could similarly disadvantage smaller, lesser known companies that don't have the resources to comply and which could face big fines if they don't. [Full Article...]

China bond yields, stocks up as Beijing signals policy shift

China bond yields, stocks up as Beijing signals policy shift Federal Reserve's policy on raising interest rates saying he is concerned the central bank will raise interest rates twice more this year, a White House official told CNBC. Against the yen, the dollar traded at 110.98 after dipping as low as 110.74 earlier in the session following a media report that the Bank of Japan was engaging in "unusually active discussions" ahead of its July decision. [Full Article...]

Trump's Fed bashing could backfire by stiffening rate-hike resolve

Nixon pressured the new Fed chairman to keep interest rates low to help maintain lower unemployment. The president also said the European Union is "making money easy" and China is manipulating its currency. In an apparent reference to Fed rate increases, Trump tweeted: "Tightening now hurts all that we have done". Debt coming due & we are raising rates - Really?' Trump wrote. [Full Article...]

British PM says talks with European Union started based on her Brexit plan

British PM says talks with European Union started based on her Brexit plan However, two amendments were only passed by three votes and a heated, bad-tempered debate provided some of the stormiest scenes the House of Commons has seen in recent years. If it were to happen, it would be a short-lived arrangement, focussed exclusively on Europe, with a new Prime Minister to take charge of the negotiations, and our only objective would be to get the best possible deal. [Full Article...]

Sellers Pay for the Privilege of Running Amazon Prime Day Deals

Sellers Pay for the Privilege of Running Amazon Prime Day Deals WHOLE FOODS IN THE MIX: The Seattle-based company is offering Prime members who spend $10 at Whole Foods from July 11-17 a $10 Amazon credit to use on Prime Day. This wasn't among them, though, so it's not like Amazon has leaked everything before the start of Prime Day festivities. As part of Amazon Prime Day, Prime users will receive 30 per cent discount on the Fire TV Stick . [Full Article...]

Elon Musk Attacks Thai Cave Rescue Hero Who Criticized His Mini Submarine

Elon Musk Attacks Thai Cave Rescue Hero Who Criticized His Mini Submarine Musk had earlier provoked condemnation after tweeting that the Thai rescue chief, who had declined the submarine prototype offer, was not really in charge of the operation. "He was the guy who effectively mapped most of that cave", he told AFP. "We will make one of the mini-sub/pod going all the way to Cave 5 no problemo". [Full Article...]

Tesla hopes to produce 500,000 cars per year at new Shanghai plant

Tesla hopes to produce 500,000 cars per year at new Shanghai plant Chief Executive Officer Elon Musk sealed a crucial agreement Tuesday to start building its second vehicle assembly plant in the world. It'll take another two to three years for the factory to reach its capacity to build about 500,000 vehicles annually. [Full Article...]

U.S. employers added 213,000 jobs in June, unemployment rate rose to 4%

U.S. employers added 213,000 jobs in June, unemployment rate rose to 4% May's figure is now being estimated higher by +37,000 vis à vis what was reported for May a month ago. Additionally, the unemployment rate rose to 4 percent from 3.8 percent even as the labor market encouraged people to seek employment. [Full Article...]

Iranian leader describes European Union proposals to save JCPOA as ‘disappointing’

Iranian leader describes European Union proposals to save JCPOA as ‘disappointing’ Iran's President Hassan Rouhani had Thursday told French President Emmanuel Macron by phone that the European offer of economic measures did "not meet all our demands", Iran's state news agency IRNA reported. Even though Iran's Foreign Minister Mohammad Javad Zarif said that the U.S. actions "de-facto disrupted the agreement", thus giving Iran a right to withdraw from it as well, the Islamic Repu... [Full Article...]

Left-wing president elected in Mexico

Left-wing president elected in Mexico He has also been critical of Mr Trump in the past revealing exactly what he thinks of the US President's border wall . Mexicans deplored that subservient behaviour. His approval ratings plummeted in 2017 to an all-time low of 12 percent. It is amid this atmosphere of rejection of the servile Mexican political elite that AMLO was elected president. [Full Article...]

Trump's Tweet on Deal With Saudi King Makes Oil Prices Plummet

Iran possesses the second-largest gas reserves on the planet after Russian Federation and the fourth-largest oil supply, while Saudi Arabia is the world's biggest oil exporter. "The Vienna meeting [4th OPEC meeting] sought to maintain production". But with inventories already below five-year averages and little spare capacity available, oil markets look set to tighten. [Full Article...]

Horst Seehofer: Bavarian hardliner turned Merkel nemesis

Horst Seehofer: Bavarian hardliner turned Merkel nemesis The coalition parties, comprising Merkel's Christian Democrats (CDU), the CSU and Social Democrats (SPD), are holding a series of meetings on Monday to decide what action to take. Germany recorded just 18,349 people this year who would be eligible for deportation to other European Union states under the proposed scheme. At the national level, Merkel proposes that migrants arriving in Germany who... [Full Article...]

Trump blasts OPEC over manipulating oil markets

Trump blasts OPEC over manipulating oil markets Over the weekend, US President Donald Trump tweeted that King Salman of Saudi Arabia agreed to increase oil production by 2 million barrels per day (bpd), "because of the turmoil & dysfunction in Iran and Venezuela", according to Trump's tweet . [Full Article...]


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