Markets

NYC reins in Uber with cap on ride-hail vehicles

NYC reins in Uber with cap on ride-hail vehicles At the end of July, we learned that the New York City Council was looking into capping the number of ride-sharing vehicles in the city while it tried to figure out related issues like congestion. The study recommended a $17.22 hourly minimum wage after expenses, arguing the measure would cover the costs of owning and driving a auto in the city and allow for paid time off. [Full Article...]

Trump administration announces $22b in fresh tariffs on China

Trump administration announces $22b in fresh tariffs on China In July, the USA and China exchanged tariffs on $34 billion worth of goods. China's 25 percent tariffs will apply to USA products such as coal, gasoline, vehicles, motorcycles and medical equipment. China's crude oil imports in July rose for the first time in three months, but were still at their third lowest monthly level so far this year, as independent refiners continue to suffer from the new... [Full Article...]

China to impose additional tariffs on $16B worth of US goods

Beijing has announced plans to retaliate immediately against the latest round of United States tariffs on Chinese imports by slapping a wide range of American products, worth $16 billion, with a 25 percent levy. The government has responded by releasing more liquidity into the banking system, encouraging lending and promising a more "active" fiscal policy. The United States Trade Representat... [Full Article...]

Elon Musk isn't kidding, Tesla board confirms TSLA could go private

Elon Musk isn't kidding, Tesla board confirms TSLA could go private Board members said that Tesla boss Elon Musk and had held several meetings about the move in the past week. "Last week, Elon opened a discussion with the board about taking the company private". "If the market believes that Elon Musk's financing is in place and the chances of a buyout is high, we should see short covering in size, driving Tesla's stock price higher in the short term as short... [Full Article...]

Oil prices steady on falling US crude stocks, Iran sanctions

Oil prices steady on falling US crude stocks, Iran sanctions European officials have said their governments are considering opening accounts for Iran at their national banks, which could receive oil payments. WTI (oil futures on NYMEX) trades back and forth in a tight range so far this Wednesday, as awaiting fresh impetus from the Energy Information Administration (EIA) report on the U.S. [Full Article...]

Sterling falls as dollar rebounds, UK minister says no-deal Brexit likely

Sterling falls as dollar rebounds, UK minister says no-deal Brexit likely The worldwide trade secretary and Brexiteer put the chance of failing to come to an agreement at "60-40". He said Mr Barnier had dismissed the UK's proposals in the Chequers plan thrashed out by Theresa May and the Cabinet simply because "we have never done it before". [Full Article...]

Snapchat loses three million users in three months

Snapchat loses three million users in three months Shares in Snap were flat in after-hours trading following volatility that saw them fall briefly before surging more than 12 percent. The app lost 3 million daily users, a decrease of 2% compared to the previous quarter. During the period from April 1 to June 30, Snap Inc received $262 million in revenue, with a net loss of $353 million. Earnings from Facebook and Twitter Inc in recent weeks ... [Full Article...]

Ola announces plans to enter United Kingdom taxi and private hire market

Ola announces plans to enter United Kingdom taxi and private hire market Subject to successful negotiations with other local authorities Ola could expand nationwide by the end of the year. Indian ride-hailing firm Ola said on Tuesday it plans to launch services in Britain this year, months after expanding operations in Australia, intensifying its rivalry with US peer Uber Technologies Inc. [Full Article...]

Experts Cast Doubt on Musk’s Envisioned Buyout of Tesla

Experts Cast Doubt on Musk’s Envisioned Buyout of Tesla It's unclear from where Musk has secured funding. Tesla's shares jumped as high as $371.15 in afternoon trading. He added that "being public means that there are large numbers of people who have the incentive to attack the company". Tesla has been the subject of a number of short sales by investors - who feel the money-losing company doesn't have a path to profitability and that its shares will ... [Full Article...]

Doug Ford announces $1 beer by Labour Day weekend

Doug Ford announces $1 beer by Labour Day weekend NDP Leader Andrea Horwath, speaking to reporters at Queen's Park, said there is a cost to the province and that LCBO promotions do "have monetary value". However, Mr. Ford said he didn't think the lower prices would lead to more drinking and driving. "Lowering the price of alcohol carries implications and risks for public safety", MADD Canada said in a statement. [Full Article...]

Dead fetus reportedly found on plane at LaGuardia Airport

Dead fetus reportedly found on plane at LaGuardia Airport Fetus was discovered by a cleaning crew Tuesday morning . The fetus was believed to be five or six months along. It was the Airbus A321's only flight of the day. "Please check with @AmericanAir before your departure", the post said. The plane was later pictured being moved to a hanger as law enforcement began investigating the find. [Full Article...]

Elon Musk tweet: "Considering taking Tesla private"

Elon Musk tweet: Mr Musk has previously discussed the drawbacks of being a public company, saying shareholder demands often produce short-term thinking. $420 per share would be a significant premium on where Tesla is now trading, and also its performance over the first half of the year. [Full Article...]

Facebook reportedly wanted big U.S

Facebook reportedly wanted big U.S According to a new Wall Street Journal ( WSJ ) report , Facebook has asked USA banks to share detailed information on their customers, including data on credit card transactions and checking account balances. The news comes as Facebook struggles to fend off concerns that arose following the privacy scandal in which a political consulting firm obtained data on 87 million users without their know... [Full Article...]

China unveils additional retaliatory tariffs on $60bn of United States goods

China unveils additional retaliatory tariffs on $60bn of United States goods Duties ranging from 5 percent to 25 percent will be levied on 5,207 kinds of imports from America if the USA delivers its proposed taxes on another $200 billion of Chinese goods, the Ministry of Finance said in a statement on its website late Friday. [Full Article...]

NASCAR CEO Brian France charged with DUI

NASCAR CEO Brian France charged with DUI He was arraigned Monday at Sag Harbor Village Justice Court and released. The Sag Harbor Village (N.Y.) Police Department said in a press release that France was arrested at 7:30 p.m. TMZ Sports first reported the incident, noting that France's blood alcohol level was more than twice the legal limit. France could not be reached for comment. [Full Article...]

Pilot, 4 passengers identified after being killed in Santa Ana plane crash

Pilot, 4 passengers identified after being killed in Santa Ana plane crash Footage from the scene shows the wreckage of a twin-engine Cessna . The plane crashed in the parking lot of a Staples office supply store in the 3800 block of Bristol Street, according to Stephen Concialdi, spokesman for the fire authority. [Full Article...]

Longtime PepsiCo CEO Indra Nooyi is stepping down

Longtime PepsiCo CEO Indra Nooyi is stepping down CEO of PepsiCo Indra Nooyi speaks at the Bloomberg Global Business Forum in New York City, U.S., September 20, 2017. President Ramon Laguarta was elected by the board of directors to succeed her. "PepsiCo today is in a strong position for continued growth with its brightest days still ahead", she added. Nooyi took to micro-blogging site Twitter to express her "mixed emotions". [Full Article...]

China fires salvo in trade war with United States

But economists now worry that a continually widening trade deficit - which will be exacerbated if Trump keeps upping tariffs - will slow the USA economy in the second half of the year, reports The Wall Street Journal. Trump earlier proposed 10 percent tariffs on an additional $200 billion of Chinese imports. He told trade officials this week to consider raising that to 25 percent . [Full Article...]

Iranian Oil Imports Will Not Be Decreased, China Tells U.S.

Iranian Oil Imports Will Not Be Decreased, China Tells U.S. Washington has also threatened to punish companies that do not stop importing Iranian oil by November 4, when sanctions on the country's oil, gas and shipping industries are set to be imposed. When pressed by CNBC to answer the questions she was raising, Croft replied, "I think this market will tighten at the end of this year", and added that Venezuelan production continues to fall and will b... [Full Article...]

RBS says profit down after US settlement, picture improving

RBS says profit down after US settlement, picture improving The lender took a £1.04bn charge in the first half for the settlement. RBS plans to pay an interim dividend of two pence per share, though the timing of the payout is subject to the finalisation of its USA settlement. RBS's performance has improved significantly since previous year. On Friday the bank reported an operating pre-tax profit... He added: "Equally, investors are probably right to... [Full Article...]


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