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Business

US President Donald Trump recently sanctioned tariffs on an additional Dollars 200 billion worth of Chinese goods, nearly 15 per cent of China's total exports to the US. Growth of less than five percent would be unprecedented for China since it began its economic reforms in the 1970s, and complicate its efforts to move towards a more balanced economy with a greater role for services.
  • OPEC and Russian Federation rule out immediate output boost

    OPEC and Russian Federation rule out immediate output boost

    Business

    In contrast, OPEC said demand for oil in OECD countries would fall from the early 2020s, but would still be the number one source of energy through to 2040. The Committee also expressed its satisfaction regarding the current oil market outlook, with an overall healthy balance between supply and demand.
  • Instagram founders leave Facebook after clashing with Zuckerberg

    Instagram founders leave Facebook after clashing with Zuckerberg

    Business

    Instagram founders Mike Krieger (left) and Kevin Systrom have reportedly resigned from the Facebook-owned app. Mr Systrom and Mr Krieger founded Instagram in 2010 and it was bought by Facebook in 2012, for $1bn (£76m). Mr Systrom, the chief executive of the app, said they were departing to "explore our curiosity and creativity". "I wish them all the best and I'm looking forward to seeing what they build next".
  • Indian flight turns back after 30 passengers report sick

    Indian flight turns back after 30 passengers report sick

    Business

    One passenger Satish Nair‏ said he suffered a nose bleed but complained that "passenger safety (was) completely ignored". This fact initiated the investigation, at the end of which it was chose to keep the crew from working. "All of them had suffered from barotrauma, which are injuries caused by the difference in air pressure". Pictures of bleeding passengers have caught ire on social media.
  • Hurricane Florence Driving Crude Oil and Gasoline Higher

    Hurricane Florence Driving Crude Oil and Gasoline Higher

    Business

    US light crude CLc1 settled down $1.78, or 2.5 percent, at $68.59 a barrel. Oil prices fell on Thursday, reversing some of the strong gains from the previous session, as economic concerns raised doubts about ongoing fuel demand growth. This means there will be less strain on other producers in making up for supply losses from Venezuela and Iran as renewed US sanctions kick in. The sanctions will target Iran's oil exports from November.
  • Moody’s: Merger of BoB, Vijaya Bank, Dena Bank to improve efficiency, governance

    Moody’s: Merger of BoB, Vijaya Bank, Dena Bank to improve efficiency, governance

    Business

    Making the announcement, Rajiv Kumar, Financial Services Secretary said, "We have made a decision to merge Dena Bank, Vijaya Bank and Bank of Baroda. Only Dena Bank is weakest but its share in total business of these banks is just around 1/10th, so it is unlikely to pull down the performance of combined entity in any significant manner", said Chokkalingam.
  • Coca-Cola considers cannabis-infused drinks

    Coca-Cola considers cannabis-infused drinks

    Business

    Besides Aurora , she said cannabis companies Tilray (TLRY.O) and Aphria (APH.TO) were likely targets for partnerships with big consumer companies looking to get into the market. Green Party President Peter Sinkamba says he is extremely happy that Coca-Cola, which is best known for its eponymous caffeine-based Coca-Cola drink, has made a decision to experiment with a different drug: cannabis.
  • Apple Watch Series 4 might bear 384 × 480 pixels display

    Apple Watch Series 4 might bear 384 × 480 pixels display

    Business

    Apple Watch Series 4 is rumoured to feature a higher resolution display. The leaks so far indicate that Apple will launch three iPhone with design similar to that of iPhone X . Based on some tests, 9to5Mac believes the Series 4 will have a 345 ppi compared to 303 ppi on Series 3. It added new watch faces will be available exclusively for the new product that take advantage of its greater screen real-estate.
  • Truth of hike: BJP talks about percentage increase in petrol, diesel prices

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

    Business

    Leaders of various opposition parties led by Congress president Rahul Gandhi kickstarted Monday the country-wide protest against rising fuel prices from Rajghat as part of the 'Bharat Bandh' call given by the party. With the title "Truth of hike in petroleum prices", the ruling party with the help of bar diagrams explained that the percentage increase in the rise of fuels in 2018 is less than the increase during the previous two terms.
  • Trump tells Apple to move plants from China to US

    Trump tells Apple to move plants from China to US

    Business

    Earlier this week, Apple said in a regulatory filing that the president's proposed $200 billion in fresh tariffs on China would cover "a wide range of Apple products", from its Mac Mini computer to cables, chargers and laptop cases. "The $200 billion we're talking about could happen very soon", Trump said. The White House has accused China of stealing United States intellectual property and forcing American companies to share their technology with Chinese companies.
  • Barack Obama Rebukes Donald Trump Publicly For First Time

    Barack Obama Rebukes Donald Trump Publicly For First Time

    Business

    He said Friday that the elections are needed to be a check on Trump and what the Republican Party has become - filled with racial resentment and conspiracy theorists, Obama said. But the breakdown in political discourse has led the country to stray from its core principles of "the rule of law, human rights and democracy", Obama said.
  • Libya Leads OPEC Oil Output to 2018 High Despite Iran Losses

    Libya Leads OPEC Oil Output to 2018 High Despite Iran Losses

    Business

    International Brent crude futures LCOc1 , by contrast, lost ground, trading at $78.10 per barrel, down 5 cents from their last close. Local refiners are finding it increasingly hard to maintain their Iranian oil imports without U.S. India will allow state refiners to import Iranian oil if Tehran arranges and insures tankers. From a broader perspective, the barrel of WTI remains underpinned by the supply disruption threats from Venezuelan falling output and additional United States ...
  • Trump Hits Back on Union Leader in Labor Day Tweets

    Trump Hits Back on Union Leader in Labor Day Tweets

    Business

    With a pledge to resume talks next week, Freeland spoke of progress, of optimism and of her determination to get a deal that's good for Canadians - a remarkable show of restraint on a day that began with another blast of now-familiar Trump bombast that landed like an anvil on the negotiating table.
  • China hosts African leaders amid aid criticism

    China hosts African leaders amid aid criticism

    Business

    The summit themed " China and Africa: Towards an Even Stronger Community with a Shared Future through Win-Win Cooperation", is meant to link the Belt and Road Initiative with the United Nations 2030 Agenda for Sustainable Development, the AU's Agenda 2063 and individual countries' development plans.
  • Freeland heads to Washington to rejoin high-stakes NAFTA negotiations

    Freeland heads to Washington to rejoin high-stakes NAFTA negotiations

    Business

    Lighthizer told reporters in a call that the agreement with Mexico provided the "highest standards" of any existing agreement on digital trade, financial services and labor rights. "But I think we'll give them a chance to probably have a separate deal". "There is a possibility of getting to a good deal for Canada by Friday", Trudeau said.
  • Toyota to invest $500m in Uber at $72b valuation

    Toyota to invest $500m in Uber at $72b valuation

    Business

    This would certainly be a smart move on Uber's part - the company has been at the center of quite a bit of controversy following a fatal crash involving one of the company's autonomous vehicles back in March. In March, one of the company's self-driving test vehicles ran down a pedestrian on a dark street in Tempe, Arizona. The combined technology will be built into Toyota's Sienna minivans, to be deployed on Uber's ride-hailing network starting in 2021, Uber said .