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Business

That deal, Trump said , will benefit farmers. Details of gains and concessions in the deal were only starting to emerge on Monday. The president added that the USA could further tax vehicle imports from Canada in response to a 300 percent Canadian tariff on American dairy products.
  • Why Turkey's currency is plunging and what it means

    Why Turkey's currency is plunging and what it means

    Business

    President Recep Tayyip Erdogan vowed on Saturday to defy U.S. "threats" over a detained pastor, showing no signs of concessions in a bitter row that has caused the Turkish lira to crash. Erdogan has cast the recent slide in the lira as a war and without naming countries said supporters of a failed military coup two years ago, which Ankara says was organized by a USA -based Muslim cleric, were attacking Turkey in new ways since his re-election two months ago.
  • Trump's latest trade tiff with China has Texans again bracing for pain

    Trump's latest trade tiff with China has Texans again bracing for pain

    Business

    China said it is targeting 333 products, including crude oil, coal, diesel, cars, bicycles, medical equipment, steel products, scrap metals and waste paper, as well as fish meal. The markets will turn weaker if the tariff damage starts to show up in USA inventories numbers, but since Chinese refiners had been limited buyers since early July, it may not show up in the numbers for weeks.
  • Snapchat stock pops despite drop of 3 million users

    Snapchat stock pops despite drop of 3 million users

    Business

    The overhaul of the once fast-growing app turned some users away, and more people are flocking to Facebook Inc.'s Instagram, which has successfully copied Snap's most popular features. Snap said Tuesday that third-quarter revenue would be $265 million to $290 million. His investment comes about three years after he met Snap chief executive Evan Spiegel and chief strategy officer Imran Khan, when the two executives visited Saudi capital Riyadh.
  • Tesla's Elon Musk is $1.4 billion richer amid talk of going private

    Tesla's Elon Musk is $1.4 billion richer amid talk of going private

    Business

    Tesla directors have said they knew about Elon Musk's surprise proposal to privatise the money-losing vehicle maker before he tweeted about it and have met several times in the past week to discuss the proposal. China's Tencent Holdings Ltd (0700.HK), which took a 5 percent stake in Tesla a year ago, could also be a possible partner. Making money has proven elusive for Tesla while it has been investing in electric auto technology and ramping up production of its vehicles, including a ...
  • Facebook wants banks to share your personal finances

    Facebook wants banks to share your personal finances

    Business

    Facebook has asked larges U.S. banks to share detailed financial data about their customers in an effort to deepen user engagement on its Messenger platform, according to the Wall Street Journal . "What you purchase is the ultimate predictor of what you'll purchase in the future". So far, banks have declined Facebook's offer of a partnership.
  • Elon Musk tweets about going private and shares 'skyrocket'

    Business

    In that same tweet, he claimed that he has already secured the funding for doing so. When another person tweeted that going private "saves a lot of headaches", Musk replied, "Yes". "The Securities and Exchange Commission issued a report that makes clear that companies can use social media outlets like Facebook and Twitter to announce key information in compliance with Regulation Fair Disclosure (Regulation FD) so long as investors have been alerted about which social media will be used to ...
  • Apple becomes the first company with a $1 trillion valuation

    Apple becomes the first company with a $1 trillion valuation

    Business

    Neowin mentioned a few days ago that Apple was likely to pass the $1 trillion threshold thanks to the huge $53.3 billion in revenues it made in the last quarter . The rise is even more astonishing - 50,000% - since the company first listed in 1980. Based on that number, Apple's stock needed to reach $207.05 a share to be worth $1 trillion, which it did today.
  • OCU professor: In trade dispute, USA is on solid ground

    OCU professor: In trade dispute, USA is on solid ground

    Business

    The report issued by the Bertelsmann Foundation comes amid a deepening trade dispute between China and the United States which has engulfed other major trading partners. That claim has drawn criticism for various reasons, with other WTO members questioning the implications of unilateral measures, particularly on national security grounds, on the multilateral system; the veracity of the national security claim, given that various USA allies have been affected; and the expected economic harm ...
  • Theresa May survives another crucial Brexit vote, but only just

    Theresa May survives another crucial Brexit vote, but only just

    Business

    Their mutiny came 24 hours after Mrs May caved in to hardline Tory Eurosceptics to back an amendment which critics says effectively kills off her compromise Brexit Chequers plan. Mrs May said she looked forward to hearing from cross-border businesses about Brexit. An amendment that would stop the United Kingdom from joining the EU's Value-Added Tax regime saw 11 Conservative rebels.
  • U.S. Lifts Ban On ZTE Over Alleged Iran Sanctions Violations

    U.S. Lifts Ban On ZTE Over Alleged Iran Sanctions Violations

    Business

    A short time ago, ZTE was forced to shut down more than half of its operations in the U.S after the U.S Department of Commerce banned the company from importing US-made components. It will now operate with a 10-year suspended ban hanging over its head, which the United States can activate if it finds new violations. It estimated a preliminary net loss of 7.0-9.0 billion yuan (US$1.05-1.34 billion) in January to June period versus a profit of 2.3 billion yuan the previous year, it said in a ...
  • China's U.S. Trade Surplus Hits Record in June

    China's U.S. Trade Surplus Hits Record in June

    Business

    If a country like Ireland, with a population of five million, tried to be self-sufficient in all goods, its income would be a fraction of today's level. Kevin Brady, the Republican chairman of the House Ways and Means Committee, recently commented , with a hint of exasperation, that "today there are no serious trade discussions occurring between the USA and China, no plans for trade negotiations anytime soon, and seemingly little action toward a solution".
  • Trump Backs Boris Johnson As Theresa May Is Dissed

    Trump Backs Boris Johnson As Theresa May Is Dissed

    Business

    He said he still believed May should follow his advice. "It's really kind of irrelevant to what we're trying to do, and it certainly doesn't express the opinion of the British people that I've met", Ambassador Johnson said of the balloon.
  • The Stakes Just Got Higher in the 21st Century Fox v

    The Stakes Just Got Higher in the 21st Century Fox v

    Business

    It's said that the new $38-a-share price is about $10 a share higher than the original offer from Disney back in December, and it's also $3 above Comcast's most recent bid. Hedge funds including Elliott have bought into Sky in recent months and other vocal shareholders such as Crispin Odey have demanded that the independent directors secure a better deal.
  • Walmart's 'Impeach 45' Apparel Draws Swift Outrage

    Walmart's 'Impeach 45' Apparel Draws Swift Outrage

    Business

    Walmart has apparently responded to the outrage by taking down any clothing or paraphernalia related to the impeachment of Trump or Obama. Walmart's Marketplace has given the company headaches over which items to permit. Fortune credits Ryan Fournier , chairman of Students for Trump , with the discovery of the t-shirts for sale and the call for a boycott that followed.
  • Canada retaliates, starts tariffs against the US

    Canada retaliates, starts tariffs against the US

    Business

    The economist tapped by Lopez Obrador to lead Nafta talks if he wins said on June 26 that he hopes a deal can be reached "within a couple of months". " We've been very nice to Canada for many years and they've taken advantage of that , particularly advantage of our farmers", she said. Prime Minister Justin Trudeau's government released on Friday the full list of items that Canada is targeting.