Markets

Buffett buys more Apple, says iPhone is 'enormously underpriced'

Buffett buys more Apple, says iPhone is 'enormously underpriced' The current round pegs Paytm's valuation at about $10-$12 billion. Berkshire Hathaway confirmed the investment on Monday evening . This is Berkshire's - which holds stakes in numerous companies including Apple and Wells Fargo - first noteworthy investment in India after shuttering its local division in 2013. [Full Article...]

Panasonic to move UK headquarters on Brexit fears

A spokesperson for the firm could not comment on the numbers of people who would have to move to Amsterdam. But the bigger concern is the impact of Brexit on the future of Panasonic's manufacturing operations in the United Kingdom after April 2019. [Full Article...]

Donald Trump Scraps Federal Employees' Planned Pay Raise, Calls It 'Inappropriate'

Donald Trump Scraps Federal Employees' Planned Pay Raise, Calls It 'Inappropriate' The federal budget deficit has grown 16 percent this fiscal year, the result of a combination of Trump-supported tax cuts and military spending, as well as increases in mandatory spending programs like Social Security, Medicare and Medicaid. [Full Article...]

Argentina's peso in freefall despite central bank rate hike to 60 percent

The currency has fallen by nearly 50% against the United States dollar in the past year. "This is a transformation, not failure". The International Monetary Fund on Wednesday said it was studying a request from Argentina to speed up disbursement from a $50 billion loan program, but still wants Argentina to adopt stronger fiscal and monetary policies. [Full Article...]

ONTARIO: Tesla Model S goes airborne. Driver faces criminal charge

ONTARIO: Tesla Model S goes airborne. Driver faces criminal charge Security footage captured the roadster getting airborne speeding over railroad tracks before crashing in a parking lot. Multiple angles of the auto show it flying through the air at an incredibly high speed. According to authorities, the driver had been travelling at a high-speed, launched the electric auto through the air and eventually hit a tree at a nearby school parking lot. [Full Article...]

Federal Court of Appeal quashes of approval of Trans Mountain

Federal Court of Appeal quashes of approval of Trans Mountain The court case combined almost two dozen lawsuits calling for the energy board's review of Kinder Morgan Canada Ltd.'s project to be overturned. He said both the court ruling and the Kinder Morgan shareholders' vote , which also happened Thursday, were both "important next steps" in this project. [Full Article...]

Argentina’s Central Bank Lifts Policy Rate to 60%

Despite signing a $50 billion standby financing deal with the International Monetary Fund earlier this year, President Mauricio Macri is struggling to convince markets that he can spur economic growth while cutting fiscal deficits and combating inflation. [Full Article...]

Government proposes energy drinks ban for children

Government proposes energy drinks ban for children They include headaches and hyperactivity. The British government has begun a public consultation over plans to ban the sale of energy drinks to young people, as it grapples with some of Western Europe's worst child obesity rates. The proposed ban only applies to England, but Scotland, Wales and Northern Ireland can all follow suit if their administrations wish. Some big stores, such as Tes... [Full Article...]

Turkey's currency plunges amid ongoing feud between Washington and Ankara

Turkey's currency plunges amid ongoing feud between Washington and Ankara Turkish President Recep Tayyip Erdogan has called on his nation to demonstrate "commitment and determination" as firm guarantees needed to combat "attacks" on Turkey's economy amid the country's deepening financial crisis triggered by an array of sanctions imposed by the United States over the detention of an American pastor. [Full Article...]

Baggage fees to rise with WestJet and Air Canada

Baggage fees to rise with WestJet and Air Canada Up until 2014, many airlines followed a baggage policy that allowed travelers to check their first bag for free. Although JetBlue Plus Card offers one free checked bag for the primary cardholder and up to three companions traveling on the same reservation, other premium credit cards have credits to offset checked baggage fees for users. [Full Article...]

Uber 'to focus on bikes over cars'

Uber 'to focus on bikes over cars' Jump's electric bikes are available in eight USA cities, including New York, Washington and Denver. As far as drivers are concerned, while they could be out in this plan, they could benefit from more lucrative longer journeys. He told the FT that whereas drivers are skeptical first and major whiff, arguing that Uber is forcing them to compete with bikes, "the 2d affect after the dialog is, 'Oh, ... [Full Article...]

Facebook takes its crusade against YouTube to the next level

Facebook takes its crusade against YouTube to the next level Watch was accepted into the USA video on-demand community without much fanfare. "Every month more than 50 million people in the US come to watch videos for at least a minute on Watch, and total time spent watching video on Facebook Watch has increased by 14 times since the start of 2018". [Full Article...]

Vodafone, TPG to become $15b telco giant

Vodafone, TPG to become $15b telco giant TPG chairman and chief executive David Teoh will be chairman of the merged group, while Vodafone boss Iñaki Berroeta will be chief executive and managing director. "We are confident that this merger will be highly beneficial to customers, shareholders and other stakeholders". "The joint venture will register as a participant.in addition, the parties will negotiate with the aim of expanding the bus... [Full Article...]

Nigeria records GDP growth of 1.5% in 2Q

Nigeria records GDP growth of 1.5% in 2Q The National Bureau of Statistics (NBS) on Monday, August 27, released the Gross Domestic Product (GDP) growth rate for the second quarter of 2018, with Nigeria's economy recording a downward slope in performance from 1.95 % in the first quarter to 1.5%, Vanguard reports. [Full Article...]

Cave diver prepares to sue Elon Musk over 'pedo' claim

Cave diver prepares to sue Elon Musk over 'pedo' claim Musk later apologised for the tweets , but yesterday seemed to backtrack by tweeting: "You don't think it's odd he hasn't sued me? He was offered free legal services", he wrote . And then there was the now-infamous New York Times interview in which Musk emotionally detailed the "excruciating" personal toll that had been taken on him after hastily announcing on Twitter that he planned to make T... [Full Article...]

99.3% Of Demonetised Currency Back In System: RBI Report

99.3% Of Demonetised Currency Back In System: RBI Report The number of fake notes of Rs 2,000 jumped to 17,929 in fiscal 2018 - a 2710 per cent increase from 638 pieces in 2016-17. The following visualisation shows the increase in detection of fake currency notes of major denominations. "RBI's annual report for 2017-18 said, The processing of SBNs has since been completed at all centers of the Reserve Bank". For instance, parts of the Rs 10,000 crore ... [Full Article...]

New Trump-Mexico trade deal ‘worse in many ways’ than NAFTA

New Trump-Mexico trade deal ‘worse in many ways’ than NAFTA Canadian Foreign Minister Chrystia Freeland interrupted a trip to Europe to rush back to Washington to begin talks with US Trade Representative Robert Lighthizer. In addition, 40 to 45 percent of the parts of cars sold must be made by employees making at least $16 per hour. Negotiations between the United States and Mexico resolved a major stumbling block on auto manufacturing. [Full Article...]

Donald Trump announces new trade deal with Mexico

Donald Trump announces new trade deal with Mexico He said: "If they'd like to negotiate fairly , we'll do that". A senior administration official, who briefed reporters on condition of anonymity, said yes: The administration can tell Congress it had reached a deal with Mexico - and that Canada is welcome to join. [Full Article...]

Trump announces 'really good' NAFTA deal with Mexico

Trump announces 'really good' NAFTA deal with Mexico In his election campaign, the U.S. president promised to redraft NAFTA or withdraw from the 1994 trade agreement . Details on other issues including dispute resolution and US rules on government procurement remained unclear. He also said the agreement - which aims to block China from routing cheap products through Mexico - will treat Kansas producers more fairly. It also would require 40 to 45 ... [Full Article...]

Mexico trade agreement sends markets to record highs

Mexico trade agreement sends markets to record highs Mr. Trump said he wants to get rid of the name "NAFTA" entirely, saying it has negative connotations. The preliminary deal with Mexico might encourage more manufacturing in the United States. Ultimately, the framework agreement reached between the United States and Mexico seems to enshrine the opening of Mexico's oil patch and provide guarantees for foreign investors. [Full Article...]


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