Economy

Trump and Xi agree to resume trade talks

Trump and Xi agree to resume trade talks The U.S. president pronounced relations with China "right back on track ", but doubts persist about the two nations' willingness to compromise on a long-term solution. 'I let him know we'll be there and we'll see. Washington has banned the company over security concerns and China reportedly wanted the restrictions lifted under the terms of any trade truce. [Full Article...]

Alabama vehicle dealership offers free shotgun, Bible and American flag to customers

The video advertising the offer appeared on Chatom Ford's Facebook page June 19. The social media feed from Chatom Ford states it is celebrating America's independence by offering these gifts in exchange for buying a vehicle. "In a small town, business is booming ", sales manager Koby Palmer said in an interview with USA Today . If a customer wants the free gun, they can get a certificate ... [Full Article...]

Trump And Xi Jinping Meeting Could Impact The World Into Recession

Trump And Xi Jinping Meeting Could Impact The World Into Recession According to Reuters news reports , the official said both the sides could agree over common ground and not to impose further tariffs as a goodwill gesture in order to get negotiations resumed, but it was not clear whether that would happen. [Full Article...]

China Considers Blacklisting FedEx After Huawei Delivery Errors

China Considers Blacklisting FedEx After Huawei Delivery Errors China's foreign ministry spokesman Geng Shuang said the shipping company should offer an explanation after FedEx released a statement saying an " operational error " was to blame for the package not being shipped to the U.S., Reuters reported. [Full Article...]

Pompeo arrives in Saudi Arabia as Iran threatens US drones

Pompeo arrives in Saudi Arabia as Iran threatens US drones The latest round of sanctions denies Supreme Leader Ayatollah Ali Khamenei and senior military figures access to financial resources and blocks their access to any financial assets they have under U.S. Mr Trump said the new sanctions were not only in response to the downing of the drone. Iran said the unpiloted, $130-million spy drone had flown into its airspace. [Full Article...]

RBI Deputy Governor Viral Acharya has resigned, reports ‘Business Standard’

RBI Deputy Governor Viral Acharya has resigned, reports ‘Business Standard’ It is also perhaps significant that Mr. Patel resigned shortly before the Bimal Jalan committee is to submit its report on whether RBI reserves could be transferred to the Centre or not. Acharya, the youngest deputy governor post-economic liberalisation, who joined the RBI in January 2017 was elevated to the post of governor in September 2016. [Full Article...]

Dollar heads for big weekly loss, political tensions boost yen

Dollar heads for big weekly loss, political tensions boost yen The Fed on Wednesday kept benchmark rates in the US unchanged. The S&P 500 future picked up almost 0.9% to 2,959. The dollar was on course for its biggest two-day drop against a basket of other currencies in 14 months and dropped 0.5 percent to a half-year low against the Japanese yen. [Full Article...]

Trump says United States 'moving forward' with additional sanctions on Iran

Trump says United States 'moving forward' with additional sanctions on Iran The Iranians may instead decide to increase the use of proxy forces in Iraq and Yemen, or give additional financial or material support to Hezbollah across the Middle East, fuelling a much wider conflict. Sadjadpour estimated that, "We will continue to see this escalatory cycle". -Israeli security ties, said Trump was undermining USA credibility. Pompeo and Bolton have advocated hardline polic... [Full Article...]

Wizz Air signs order for 20 Airbus 321 XLR aircraft

Wizz Air signs order for 20 Airbus 321 XLR aircraft Leasing company Air Lease Corp became the first customer of the new aircraft - the A321XLR - lining up for 27 as part of a deal for 100 Airbus planes. It is 30 percent more fuel efficient than jets now offered by competitors, according to Netherlands-based company, and can fly up to 4,700 miles. Airbus called on Thursday for a chance to compete for a blockbuster plane order by British Ai... [Full Article...]

Facebook’s digital currency would be great - if it didn’t come from Facebook

Facebook’s digital currency would be great - if it didn’t come from Facebook Facebook said Libra would be independently-managed and backed by real assets , and that paying with it would be as easy as texting. Coincidentally, the name Libra comes from the Roman measurement of weight - its why we measure pounds of weight in lbs. [Full Article...]

U.S. to restart trade talks with China

U.S. to restart trade talks with China Following Trump's comments, Xi in a statement said that China and the U.S. should solve problems through equal dialogue, Xinhua reported . "Help us make AMERICA GREAT AGAIN". -China relations since Trump accused Beijing in early May of reneging on commitments that had brought the world's top two economies close to a deal to end their almost year-long trade war . [Full Article...]

Facebook to launch new cryptocurrency, called Libra

Facebook to launch new cryptocurrency, called Libra However, unlike Bitcoin , which has seen huge price fluctuations, Libra will be backed by a reserve of real assets, which should give it a lot more stability. " Libra will be a "stablecoin", and its value will be tied to a basket of fiat currencies (managed by the Libra Reserve) to minimize volatility", wrote the analysts - although there are concerns about user confusion/adoption. [Full Article...]

PetSmart's Chewy prices IPO at $22 per share, above target

PetSmart's Chewy prices IPO at $22 per share, above target Chewy raised just over $1 billion, with 46.5 million shares sold at $22 each. Between 2012 and 2018, Chewy's sales increased from $26 million to $3.5 billion. The company even noted in its filings that pet spending is resilient in an economic downturn due to the strength of the pet and pet "parent" relationship. [Full Article...]

Target cash registers not working at stores nationwide

Target cash registers not working at stores nationwide Target, which has more than 1,800 stores across the US, said it would "provide an update as soon as possible". Customers from across the country took to social media to broadcast their gripes to the world. One location at RIO Lakefront in Gaithersburg indicated that their registers stopped functioning shortly before 2 p.m. The big-box retailer experienced a similar systems failure exactly fi... [Full Article...]

Burger King Jumps On "Stranger Things" Bandwagon With Upside Down Whopper

Burger King Jumps On A video posted to Twittershows off the promotional meal, which is really just a Whopper with the buns flipped. Upside Down. And it's only being served at eleven (Eleven, get it?!) locations- in Miami, Houston, Boston, Atlanta, Philadelphia, Dallas, Chicago, San Francisco, Los Angeles, and NY. [Full Article...]

Flour sold at Target, Walmart nationwide being recalled due to E. coli

Flour sold at Target, Walmart nationwide being recalled due to E. coli The recall doesn't include products sold through the King Arthur Flour website, Baker's Catalogue or the Baker's Store in Norwich, Vermont. This time, the product being recalled is King Arthur flour, a popular brand sold at Aldi, Walmart, Target, and other stores nationwide. [Full Article...]

Huawei delays global launch of foldable phone by 3 months

Huawei delays global launch of foldable phone by 3 months Samsung gave it a try with Tizen and Microsoft's mobile efforts with Windows didn't workout either, so it's no surprise that Huawei has been busy with its own solution that's been under development going as far back as 2012. Huawei says its place on the Entity List doesn't impact the Mate X's ability to use Google's Android operating system, since the phone was announced well before the US gov... [Full Article...]

G20 finance chiefs: trade row 'intensified' but no call for resolution

G20 finance chiefs: trade row 'intensified' but no call for resolution Trump has also complained repeatedly about America's huge trade deficit with China - a record US$379 billion a year ago - which he blames on weak and naive negotiating by previous U.S. The planned meeting was said by Mnuchin to have parallels with the two presidents' Buenos Aires meeting on December 1, when Trump was poised to increase tariffs on $200 billion of Chinese goods. [Full Article...]

Unemployment in United States stays at 3.6% with 75000 new jobs

Unemployment in United States stays at 3.6% with 75000 new jobs The amount of new jobs was below the 180,000 that had been forecasted by economics. It hasn't raised, or cut, the interest rate target range at any meeting so far this year. Hiring slowed across all sectors in May, with the share of industries showing job gains during the month the smallest since July 2016. Meanwhile, Trump has also announced a 5 percent tariff on imports from Mexico , effect... [Full Article...]

Oil Drops as U.S. Stockpiles Report Stokes Fears of Supply Glut

Oil Drops as U.S. Stockpiles Report Stokes Fears of Supply Glut Standoffs between the USA and key trading partners China and Mexico, plus new data showing larger than expected US stockpiles, yesterday blasted crude futures to their lowest levels in five months. Brent was down $1.31, or 2.1%, at $60.66 a barrel around 2:25 p.m. ET (1825 GMT). Signs of slowing global economic activity have increased in recent months, fuelled by trade tensions between the Uni... [Full Article...]


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