Money

Facebook (FB) Stock Sinks as Revenue Misses Expectations

Facebook (FB) Stock Sinks as Revenue Misses Expectations Facebook reported a 42 percent increase in revenue and a 31 percent jump in profits for its second quarter, compared with a year earlier. Nasdaq futures dropped 0.85 per cent late on Wednesday, suggesting the technology-heavy Nasdaq Composite index would fall when trading opens on Thursday morning. [Full Article...]

Will $12 billion emergency farm aid offset tariffs? Wisconsin farming industry reacts

Will $12 billion emergency farm aid offset tariffs? Wisconsin farming industry reacts During the announcement on Wednesday, Trump announced he and Juncker had agreed "to work together toward zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods", indicating a reduction in tension. Juncker said the two sides also agreed to work together to reform the World Trade Organization , which Trump has vehemently criticized as being unfair to the U.S. [Full Article...]

Facebook stock dives almost 20% on warning of slow revenue growth

Facebook stock dives almost 20% on warning of slow revenue growth Facebook generated revenue of $13.23 billion during the quarter ending June 30, compared to $9.32 billion during the same quarter a year ago. The company reported $5.1 billion in profit, or $1.74 per share, compared with the average estimates of $5.1 billion and $1.72 per share among research gathered by Thomson Reuters . [Full Article...]

Tesla Asks Suppliers for Cash Back in a Bid to Achieve Profitability

Tesla Asks Suppliers for Cash Back in a Bid to Achieve Profitability Tesla probably has some leverage to gain suppliers' support, given that the type of parts it uses is probably a bit different from other automakers and it may even be the only customer in some cases, said Koji Endo, an auto analyst at SBI Securities Co.in Tokyo. [Full Article...]

Illness forces Marchionne out of Ferrari

Illness forces Marchionne out of Ferrari Ferrari, were Marchionne had been both chairman and CEO, named FCA Chairman and Agnelli family scion John Elkann as new chairman, while board member Louis Camilleri becomes chief executive, the luxury carmaker said in a separate statement. [Full Article...]

China's yuan plunges again. Is a currency war coming?

China's yuan plunges again. Is a currency war coming? The yuan's depreciation stems from a confluence of factors including the trade war , expected slower Chinese economic growth, and speculation that Beijing will take stimulus steps as a buffer, which tends to pressure a nation's currency . [Full Article...]

Finally, sanitary napkins to be exempted from GST

Finally, sanitary napkins to be exempted from GST Tax rate on ethanol has been slashed to 5 per cent from 18 per cent at present. GST on handmade carpets and handmade textile floor coverings has been reduced from 12 per cent to 5 per cent . The Council also decided that taxpayers with turnover up to '5 crore will continue to pay monthly tax, but file returns only once a quarter. Apart from the change in taxes on commodities, Piyush Goyal a... [Full Article...]

Cloud, PC Trends Positive — Microsoft Earnings Preview

Cloud, PC Trends Positive — Microsoft Earnings Preview Microsoft reported that Office commercial products and cloud services revenue increased 10% (up 8% in constant currency) mainly driven by strong Office 365 commercial revenue growth of 38% (up 35% in constant currency). The devil is in the detail with this growth number as Microsoft states it occurred across Xbox One Windows 10 and mobile platforms signaling that perhaps more Windows 1... [Full Article...]

President Trump Eyes an Additional $500B Worth of Tariffs on Chinese Goods

Earlier this month, the United States levied tariffs on $US34 billion worth of Chinese goods, prompting retaliation from China that has hit U.S. farmers particularly hard, including in states that Trump won in the 2016 presidential election. [Full Article...]

Oil prices rise as concerns about oversupply ease

Oil prices rise as concerns about oversupply ease Notwithstanding, the irony of the situation is that even though this production level blew away expectations and is indeed historic, it still may not be enough to satisfy our raging ravenous oil demand in the short term. That was the biggest increase since the end of 2016. But the spectre of oversupply quickly returned, with a rise of more than 600,000 barrels in USA crude stockpiles, reporte... [Full Article...]

European Commission fines Google a record-breaking $5 billion

European Commission fines Google a record-breaking $5 billion Under EU rules Google could have been fined up to 10 per cent of parent company Alphabet's annual revenue, which hit $110.9 billion in 2017. The EU's antitrust regulator began a probe into whether Google had abused dominance of the Android operating system to promote its own mobile apps and services including the company's search engine. [Full Article...]

Elon Musk working to help increasingly desperate Thai cave situation

Elon Musk working to help increasingly desperate Thai cave situation A Thai Navy SEAL helping with the rescue operation died on Friday, underlining the dangers of navigating the flooded cave system even for those with experience. They had gone missing on June 23. Time is of the essence as concerns mount over depleting oxygen levels and pending heavy rains. Will this solution work? Musk was approached on Twitter to help the footballers and initially said Thai au... [Full Article...]

Retaliatory Measures Against US Tariffs Already In Effect, Says China

Retaliatory Measures Against US Tariffs Already In Effect, Says China They kicked in just after midnight ET, which is noon in Beijing. The Trump administration has argued that China has deployed predatory tactics in a push to overtake US technological dominance. "More than 70,000 jobs depend on the Port of Oakland". In April, the White House instructed the United States Trade Representative to consider $100 billion in additional tariffs against China. [Full Article...]

Iran Aims to Keep Oil Exports Flowing Despite US Sanctions

Oil prices rose to multiyear highs last week after US officials signaled the administration would act to cut Iran exports faster than expected and. Geoffrey Craig, the oil futures editor at Platts, said the drain on us inventory levels is in part because of higher domestic exports, which set a record for the week ending June 22 at 3 million barrels per day. [Full Article...]

Walmart Faces Boycott Threats Due To Donald Trump Impeachment T-Shirts

Walmart Faces Boycott Threats Due To Donald Trump Impeachment T-Shirts Walmart has apparently responded to the outrage by taking down any clothing or paraphernalia related to the impeachment of Trump or Obama. The "boycott Walmart" hashtag sparked a campaign against the company and its online sell of items opposing the president, but others have come to Walmart's defense. [Full Article...]

How did Cleveland and Los Angeles newspapers treat the LeBron news?

How did Cleveland and Los Angeles newspapers treat the LeBron news? Hours after the announcement, the Cavaliers issued a statement from chairman Dan Gilbert, thanking James for leading the team to the National Basketball Association championship in 2016, calling it a title that "united generations of Clevelanders, both living and passed". [Full Article...]

Tesla "just became a real vehicle company" after reaching a critical milestone

Tesla All eyes had been on Elon Musk & Co. after the Tesla team promised a new Model 3 production milestone; now, a new target has been set. For the second calendar quarter, Tesla says it produced a total of 28,578 Model 3 cars-almost triple the 9,766 it produced in the first quarter and vastly more than it produced previous year. [Full Article...]

EU warns US of boomerang effect if US imposes car levy

EU warns US of boomerang effect if US imposes car levy The US leader had already threatened to impose tariffs on cars imported from the European Union, in response to the bloc's retaliatory tariffs last week on popular US products including jeans, bourbon and motorcycles. In all fairness, they have their farmers, so they want to protect their farmers. The European Union has reportedly threatened to retaliate against US President Donald Trump in th... [Full Article...]

Trump asked Saudi Arabia to boost its oil production by 2M barrels

But Saudi Arabia , OPEC's biggest producer, was keen to raise output to meet calls from U.S President Donald Trump and major consumers such as India and China to help cool oil prices and avoid shortages, according to Saudi officials including Energy Minister Khalid al-Falih. [Full Article...]

Kicked Out Of Toys R Us On Its Last Day?

Kicked Out Of Toys R Us On Its Last Day? Toys R Us shoppers have been taking their last selfies with Geoffrey the giraffe and making their final purchases. In the less than two days since Johnpiere posted the image on Facebook, it has been shared almost 300,000 times. Tracey Mobley, who worked at Toys R Us for 25 years, said not providing severance to employees was "heartbreaking", during an interview with WPTV. "Thanks for recommend... [Full Article...]


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