Markets

Trump wants Obama to know he has a 'magic wand'

Kevin Hassett , chairman of the White House Council of Economic Advisers, also shot down the president's claim, later quipping about yet another Trump tweet that he's not the head of the "Council of Twitter Advisers". "It shouldn't be Democratic or Republican to say that we don't threaten the freedom of the press because - they say things or publish stories we don't like", Obama said . [Full Article...]

Ford suggests Ottawans want smaller city council

Ford suggests Ottawans want smaller city council Earlier today, an Ontario judge ruled against Ford's planned cuts to Toronto city council. Ford's controversial Bill 5 gerrymandered Toronto's political boundaries , reducing the number of wards from 47 to 25 - a move that would have heavily shifted power to suburban wards held by Ford's allies and diluted the influence of urban voters. [Full Article...]

Is Jack Ma retiring?

Is Jack Ma retiring? But the executive, who has worked for Alibaba ( BABA ) for more than a decade, is considered a safe pair of hands. Little is known outside the company about 46-year-old Zhang, a soft-spoken accountant who goes under the epithet "Xiaoyaozi" at work - the name of a character from a Chinese martial arts novel literally meaning the "free and unfettered one". [Full Article...]

Apple faces Trump's ire after company says tariffs would hurt products

Apple faces Trump's ire after company says tariffs would hurt products Mr. Trump took to Twitter Sunday to declare victory and write: "This is just the beginning". Trump's increasing aggression toward China and his strong desires for increases in tariffs have many companies anxious. Ford confirmed to The New York Times that it will not build or sell the Focus Active in the United States. Tension has also persisted over limits on US firms' access to Chin... [Full Article...]

Canada returning to NAFTA talks earlier than expected

They are aiming to complete a deal by the end of the month so the three nations - Mexico, Canada and the United States - can sign an agreement by the end of November. On Friday Freeland told reporters the 13-month-old NAFTA talks had entered a "very intense" phase of "continuous negotiations". Freeland said she would meet with Lighthizer when negotiators found issues that needed to be elevated to ... [Full Article...]

Top White House Economist Says Trump's GDP Claim Was Wrong

In 2006, unemployment was about 4.7 percent and quarterly GDP growth was significantly higher than it is now, at 5.4 percent , according to data. Earlier in the day, Trump made the claim on Twitter. "When the press finds mistakes that we make, we don't like making mistakes, but we're grateful when they're pointed out, because we want to correct them", Hassett added. [Full Article...]

US companies bemoan impact of Trump trade tariffs

US companies bemoan impact of Trump trade tariffs Trump tweeted over the weekend that the tech giant should manufacture its gadgets in the USA if it wanted to avoid tariffs on Chinese imports, saying an "easy solution" to Apple's problem would be to "start building new plants now". Ford has already announced it will eventually stop selling all passenger cars in the USA except the Mustang , in favor of meeting Americans' appetite for large - and... [Full Article...]

Rupee sinks to new record low of Rs 72.49 against U.S. dollar

Rupee sinks to new record low of Rs 72.49 against U.S. dollar The benchmark 10-year bond yield gained 11 basis points to 8.14 per cent, while stocks also declined. The value of the rupee hit another record low on Monday, as the trading week began with the rupee opening below the 72-mark against the dollar. [Full Article...]

White House Corrects Trump’s Tweet on GDP, Unemployment

Asked about the veracity of the statement later that day at a White House press briefing, Hassett said: "So I can tell you what is true". Following Friday's blockbuster August jobs report, and with nail-biting midterm elections less than 60 days away, the 44th and 45th presidents crossed swords, with Trump continuing to counterpunch through the weekend and into Monday morning. [Full Article...]

The Winklevoss twins just won NY approval for their crypto coin

The Winklevoss twins just won NY approval for their crypto coin Investors who trade digital assets through the itBit exchange or its over the counter desk will also have the option to cash out their digital assets to Paxos Standard instantaneously, Cascarilla said. "As the financial technology marketplace continues to evolve, New York is committed to fostering innovation while ensuring responsible growth", said New York Department of Financial Services Super... [Full Article...]

Truth of hike: BJP talks about percentage increase in petrol, diesel prices

Truth of hike: BJP talks about percentage increase in petrol, diesel prices Nonetheless, given the transportation cost, the fuel prices in Kerala are higher than even states where there is a higher sales tax. According to one of the graphics, the petrol price on May 16, 2004, was Rs 33.71 while on May 16, 2009, it was Rs 40.62. [Full Article...]

Trump Tweets Ford Can Make SUV in US It Won't.

The Focus Active was set to be the first Chinese-made Ford offered in the USA, while General Motors now imports the Buick Envision SUV and Cadillac CT6 Plug-In Hybrid. Trump wrote , citing a Reuters article posted on CNBC . Some reports have also claimed that AirPods 2 will also be revealed at the event, and if the proposed tariffs on China-imported goods goes ahead, these will likely be ... [Full Article...]

Ford Tells Trump Why it Won’t Make China-Built Car in US

Last week , Ford revealed that it was dropping plans to import the Focus Active from China due to Trump's tariffs on Chinese goods. Big quote: " Apple prices may increase because of the massive Tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive". [Full Article...]

Bharat Bandh: Petrol, diesel prices continue to breach record levels on Monday

Bharat Bandh: Petrol, diesel prices continue to breach record levels on Monday To ease the burden a bit we are reducing the price on petrol and diesel by Rs 2 per litre. Petrol prices were increased to Rs 88.12, Rs 83.61 and Rs 83.91 per litre in Mumbai, Kolkata and Chennai respectively on Monday. 61 per litre, following an increase of 12 paise and 10 paise, respectively. On Tuesday, former Finance Minister P Chidambaram had tweeted: "Relentless rise in prices of petrol an... [Full Article...]

Chinese billionaire Jack Ma confirms exit at Alibaba, announces successor

Chinese billionaire Jack Ma confirms exit at Alibaba, announces successor It expanded into consumer retailing, online finance and other services, becoming the world's biggest e-commerce company by total value of goods sold across all its platforms. Zhang will also retain the CEO title, the company said. Zhang, 46, has been in the job since 2015 after serving as the company's chief operating officer. [Full Article...]

Lyft launches scooter service

Lyft launches scooter service Lyft's new business came almost one week after it failed to be granted a permit to operate e-scooters in its home city of San Francisco. Scooter companies including Bird and Lime will be allowed to operate fleets of up to 3,000 within the city limits. [Full Article...]

Trump threatens tariffs on almost all of China's US imports

Trump threatens tariffs on almost all of China's US imports The tariffs are top of mind for Apple chief executive Tim Cook, who has personally lobbied Trump for months on issues of taxes and trade, even dining with the president and first lady Melania Trump at Trump National Golf Course in Bedminster, New Jersey, last month. [Full Article...]

Tesla executive exits, CEO smokes pot on webcast, shares reel

Tesla executive exits, CEO smokes pot on webcast, shares reel Later on Friday, Tesla named a new president of automotive operations, promoting eight-year Tesla employee and former Daimler truck exec Jerome Guillen into the role overseeing all automotive operations and reporting to Musk . And indeed this may not strike many as all that daring or risque, but remember that Mr. Musk is the CEO of a multi-billion dollar publicly traded company. [Full Article...]

Canada job losses surprise, but rate hike still expected

Canada job losses surprise, but rate hike still expected In Ontario, after two consecutive months of increases, employment fell by 80,000 jobs in August. The August employment numbers followed an increase of 54,100 positions in July, according to CTV News . Compared to August 2017, employment is up 172,000 or 0.9 percent, and average hours worked is up 1.6 percent, StatsCan said. There was a jump in the Red Deer area unemployment rate last month. [Full Article...]

World’s largest offshore wind farm opens off northwest England

World’s largest offshore wind farm opens off northwest England Sitting off the northwest coast of England, Danish energy group Orsted unveiled the Walney Extension project on Thursday. The wind farm, Orsted's 11th operational offshore wind farm in the United Kingdom, includes 87 turbines and covers an area totaling roughly 55 square miles northwest of England, Kallanish Energy reports. [Full Article...]


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