Markets

Amazon is now a $1 trillion company

Amazon is now a $1 trillion company Amazon.com Inc on Tuesday briefly joined Apple Inc to become the second $1 trillion (777.79 billion pounds) publicly listed USA company after its stock price more than doubled in a year as it grew rapidly in retail and cloud computing. Most notable was the speed with which Amazon hit the milestone, with its shares having more than tripled in the past three years. That puts the company's market... [Full Article...]

Pres. Trump cancels pay raises for most federal employees

Pres. Trump cancels pay raises for most federal employees David Cox Sr. said in a statement . According to a report from the Congressional Budget Office (CBO), the tax reform law touted by Trump and passed by the GOP will add $1.9 trillion to the federal deficit over the next 10 years, including reduced revenues and debt service payments. [Full Article...]

Warren Buffett Buys More Apple, Says iPhone Is 'Enormously Underpriced'

Warren Buffett Buys More Apple, Says iPhone Is 'Enormously Underpriced' With this deal, Buffett's investment firm joins Japanese giant SoftBank that had past year bought a reported 20 percent stake in Paytm for an estimated $1.4 billion (over Rs 9,000 crore). Berkshire's old policy forbade buybacks unless the price exceeded 1.2 times book value per share. According to its last regulatory filing, Buffett's firm had increased its stake in Apple to 252 million ... [Full Article...]

Trump nixes federal pay raise

Trump nixes federal pay raise The canceled raises do not affect members of the military. Military personnel, unlike civilian federal employees, are still due for a pay increase valued at 2.6 percent, CNBC reports . In a letter to House and Senate leaders, Trump described the pay increase as "inappropriate". "These numbers are very, very sustainable - this isn't a one-time shot", he said last month after figures showed th... [Full Article...]

Facebook rolls out its Youtube-like 'Watch' video service for all

Facebook rolls out its Youtube-like 'Watch' video service for all It comes despite claims that the feature has fallen flat in the United States, with many users ignoring. All shows on Facebook Watch are original and only available to Facebook users. Through the use of its Ad Breaks service, users in the UK, Ireland, Australia, New Zealand and USA can make money from their videos; more countries will be added in due course. [Full Article...]

Allen Weisselberg: Trump Organization CFO granted immunity in Cohen case

Allen Weisselberg: Trump Organization CFO granted immunity in Cohen case In fact, emails released by Trump Jr. himself make clear that he was explicitly told an attendee at the meeting would be a "Russian government attorney" who wanted to provide damaging information about Clinton. Doug Deason, a Texas-based donor and major Trump supporter, said: "In no way, shape or form did we think we were hiring St. Trump to fix the morals of the country". [Full Article...]

Big oil calls proposed NAFTA agreement with Mexico encouraging

Big oil calls proposed NAFTA agreement with Mexico encouraging The United States and Mexico have reportedly reached a preliminary agreement to revise parts of the North American Free Trade Agreement . The BIS report found Canada would be the biggest loser if trade talks falter, in large part because of vulnerability to USA tariffs on vehicles and auto parts made in Canada. [Full Article...]

Verizon slowed internet speed for first responders to fire

Verizon slowed internet speed for first responders to fire As Ars reported previously, Santa Clara County and the Santa Clara County Central Fire Protection District are among two-dozen local or state government agencies that the Federal Communications Commission in a bid to overturn the repeal of net neutrality rules that outlawed throttling and blocking. [Full Article...]

Gold futures rise on weakened U.S. dollar

Gold futures rise on weakened U.S. dollar Noting that the economy's " strong performance will continue" against a backdrop where there "does not seem to be elevated risk of overheating", Fed Chair Powell said that the "gradual process of normalization remains appropriate". The Fed "has been navigating between the shoals of overheating and premature tightening with only a hazy view of what seem to be shifting navigational guides", P... [Full Article...]

Democrats Demand Oversight on Cohen Plea, Presidential Pardons

Democrats Demand Oversight on Cohen Plea, Presidential Pardons Trump said on Twitter on Wednesday that the campaign finance violations to which Cohen pleaded guilty were "not a crime", even though prosecutors and Cohen agreed that they were. Hence the November midterm elections loom as much more important than usual, with turnout in both parties key to whether the Trump reign of chaos and mutual animosity will be halted, slowed or licensed to continue o... [Full Article...]

Trump Org CFO Allen Weisselberg given immunity by prosecutors to testify

Allen Weisselberg , the Trump Organisation's chief financial officer, was said to have met with prosecutors weeks ago after being ordered to appear before a grand jury. The Cohen investigation was referred to federal prosecutors in NY by U.S. Special Counsel Robert Mueller, who is looking into Russian interference in the 2016 election and possible coordination between Trump's Republican campaign a... [Full Article...]

The rand climbs as dollar hit by Trump Fed comments

The rand climbs as dollar hit by Trump Fed comments Trump's reiteration on Monday of displeasure with rising interest rates has weighed on the dollar, ahead of the release of the Fed's minutes later on Wednesday and its annual economic symposium at Jackson Hole, Wyoming on Friday. John Ashbourne, senior emerging markets economist at Capital Economics said: "policymakers will be hesitant to hike rates too soon". Although Trump's comments helpe... [Full Article...]

Pepsi buys SodaStream for a future beyond cola

Pepsi buys SodaStream for a future beyond cola SodaStream Chief Executive Daniel Birnbaum said the deal would open new markets to his company through PepsiCo's global distribution and marketing network, adding that the company would keep its operations in Israel. She said SodaStream's products, which are marketed as a healthy alternative to sugary drinks, fit in with the United States firm's goal of "making more nutritious products while limit... [Full Article...]

Contact lenses contribute to increasing microplastic pollution

Now a research team based in the United States has shown for the first time how they can get eaten by fish and other marine life and be returned to us on our plates. But you might not have realized that even the smallest pieces of plastic, like contact lenses for example, can be a part of the problem. Many people rely on contact lenses to improve their vision. [Full Article...]

House of Fraser cancels online orders and offers refunds

House of Fraser cancels online orders and offers refunds The high street chain was bought-out by Sports Direct last week after it went into administration. House of Fraser took its website offline yesterday amid complaints from customers about delayed deliveries since the company was bought by Sports Direct last week. [Full Article...]

Toll rises to 42 in Italy bridge collapse ahead of funerals

Toll rises to 42 in Italy bridge collapse ahead of funerals An engineering study commissioned by Italian motorway operator Autostrade previous year warned about the condition of a bridge that collapsed this week in Genoa , the head of the university department that conducted the study said on Friday. [Full Article...]

Turkey's president says country will defy economic threats

Turkey's president says country will defy economic threats Turkey, meanwhile, is frustrated by the refusal of the U.S.to extradite a Pennsylvania-based Muslim cleric accused by Turkish authorities of engineering a 2016 coup attempt. Despite the political tensions, the lira rebounded some 6 percent on Wednesday, strengthening to around 6.0 to the United States dollar. "Would the amount of Turkey's debts decrease?" Erdogan wants Washington to extradite Tu... [Full Article...]

Turkey refuses to release pastor despite threat of USA sanctions

Turkey refuses to release pastor despite threat of USA sanctions The lira went into a tailspin after a diplomatic spat with the USA over a detained pastor in Turkey. USA support for Kurdish rebel groups fighting Islamic State fighters in northern Syria is another major difficulty, given Turkey's battle against a Kurdish insurgency in its own country. [Full Article...]

Asian stocks retreat as Turkey worries weigh, dollar buoyant

Asian stocks retreat as Turkey worries weigh, dollar buoyant The dollar this week rose to a 13-month high against a basket of other currencies , getting an extra boost as emerging markets have sold off on concern about contagion from Turkey and investors sought a safe haven in the USA currency. Sanders said the us tariffs on steel and aluminum will not be lifted even if Brunson is freed, but suggested the sanctions against Turkish officials could e... [Full Article...]

Turkey aims new tariffs at US as court rejects pastor's appeal

Turkey aims new tariffs at US as court rejects pastor's appeal In a sign of improving ties to European Union nations, Kalin said Erdogan would hold telephone conversations with German Chancellor Angela Merkel later Wednesday and with Emmanuel Macron of France on Thursday. Investors continued to demand higher interest rates. Markets weren't all rosy. On Monday, the USA president signed a defense authorization act that notably prohibits the delivery of ... [Full Article...]


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