Business

SEC rejects Winklevoss's Bitcoin ETF bid

SEC rejects Winklevoss's Bitcoin ETF bid The Bats requested a review of the order leading to another wave of expectations from investors that the SEC may accept a cryptocurrency based derivative. Still, the SEC remains unconvinced. According to SEC, bitcoin did not do anything about manipulation and also the technology did not provide efficient tools to prevent money laundering and fraud. [Full Article...]

U.S., European Union agree to ease trade tensions

U.S., European Union agree to ease trade tensions On another front, Trump's administration has hit even its close allies the European Union, Canada and Mexico with levies on steel and aluminium exports to the U.S., prompting retaliation against iconic USA products including bourbon whisky and orange juice. [Full Article...]

Pres. Trump laments decades of USA trade policy

Pres. Trump laments decades of USA trade policy He says workers are back on the job in IL after years of shutdowns and cutbacks. Trump also said the European Union had agreed to buy more soybeans from American farmers, who have seen prices decline sharply since China imposed retaliatory tariffs. [Full Article...]

Facebook's brutal reality check sends stock reeling

Facebook's brutal reality check sends stock reeling Facebook's shares collapsed by 18% on Thursday when the stock market opened in NY, a day after the Silicon Valley company revealed that 3 million users in Europe have abandoned the social network since the Observer revealed the Cambridge Analytica breach of 87m Facebook profiles and the introduction of strict European Union data protection legislation. [Full Article...]

European Union divided over Trump trade deal

European Union divided over Trump trade deal In a quick attempt to save face, the president then placed his hand on Juncker's back as they walked up the stairs of the Rose Garden. Following the meeting at the White House , the pair said the talks would seek to "resolve" USA tariffs on steel and aluminum and Europe's retaliatory duties - marking a step back from Trump's signature import protections for American metals producers. [Full Article...]

London taxi drivers mull class action suit against Uber

London taxi drivers mull class action suit against Uber At that level, the overall compensation bill could total £1.25bn. Members of the London Taxi Drivers' Association (LTDA) are looking into legal action against Uber which will claim that each driver has lost at least £10,000 for the last five years because of the way the company has operated. [Full Article...]

What the Failure of Qualcomm's NXP Bid Means for the Chip Industry

What the Failure of Qualcomm's NXP Bid Means for the Chip Industry Qualcomm needed approval from China because the country accounted for almost two-thirds of its revenue a year ago. Broadcom, whose $117 billion hostile bid for Qualcomm was blocked by the United States in March on national security grounds, says its $19 billion purchase of USA software company CA Technologies (CA.O) does not require China's blessing. [Full Article...]

China withdrawing approval for Facebook subsidiary

China withdrawing approval for Facebook subsidiary Its venture in China was similar to what it did in other countries: Station F in France, Estacao Hack in Brazil, Tech Hub launch in India and Innovation Hub in Korea. Despite the obstacles, Facebook has been keen to operate in China. An application by Facebook's Hong Kong sales office to register a USD30 million subsidiary called Facebook Technology in the Chinese city of Hangzhou, home to Ali... [Full Article...]

Mexico trade adviser sees NAFTA deal in next few months

Mexico trade adviser sees NAFTA deal in next few months Lopez Obrador, who takes office December 1., said he was not aware of any deal Trump was referring to, but he was open to talking with the US, according to Bloomberg. The Trump administration lobbied in June for individual trade deals with Canada and Mexico after three-way talks fizzled . "Like you, I believe that meeting the challenge of illegal immigration involves more than just strong borde... [Full Article...]

Florida officer helps homeless man shave for McDonald's job interview

Florida officer helps homeless man shave for McDonald's job interview The post has been shared more than 1,000 times on Facebook , with numerous comments praising Officer Carlson's act of kindness. That's when Officer Carlson revealed Sen. Officer Tony Carlson didn't know it, but when he was taking a razor to the man's facial stubble on Sunday, someone was using a cellphone to record his good deed . [Full Article...]

Saudi Oil Tankers Attacked in Red Sea, Oil Exports Halted

Saudi Oil Tankers Attacked in Red Sea, Oil Exports Halted A statement issued by Mr al-Falih's ministry said that both tankers that were attacked were operated by Saudi shipping company Bahri, which had earlier said that one of its VLCCs had suffered minor damage in an incident in the Red Sea, without elaborating. [Full Article...]

Oversupply Concerns Plague Crude Markets

Oversupply Concerns Plague Crude Markets Stating that India is exposed to global energy risks, MRPL said the geopolitical situation in the Middle East, sanctions on Iran and the recent increases in oil prices and consequently, gas prices can potentially impact growth in sectors other than primary energy. [Full Article...]

Trump and European Union easing trade tensions a "ceasefire", but pressure still on

Trump and European Union easing trade tensions a Trump said the two agreed "to work toward zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods". Shares of BMW AG, Volkswagen AG, Fiat Chrysler Automobiles NV and Daimler AG jumped on Thursday following a pledge from the two leaders to "hold off on other tariffs" while they negotiate a deal to expand European imports of US liquefied natural gas and soybeans ... [Full Article...]

Dollar grinds upward on higher Treasury yields

Dollar grinds upward on higher Treasury yields Trump said the Fed's policy tightening and the strong dollar could hurt the US economy. Analysts say it shows the central bank is determined to continue with its massive easing policy. Europe's STOXX 600 fell 0.3 per cent as investors braced for a packed week of corporate earnings in Europe and a meeting between European Commissioner Jean-Claude Juncker and Trump to discuss threatened auto tariffs... [Full Article...]

Auto tariffs won’t be imposed on European Union: Wilbur Ross

Auto tariffs won’t be imposed on European Union: Wilbur Ross A group of lawmakers told ABC News that they were supposed to meet with Trump about trade, but instead the president pulled them into the Rose Garden event with European Union commissioner Jean-Claude Juncker. President Donald Trump on Wednesday said he struck a deal with European Union officials to avoid a full-blown trade war, causing stocks to soar . He said the lawmakers told the president... [Full Article...]

Apple Has Completely Dropped Qualcomm Modems From 2018 iPhones

Apple Has Completely Dropped Qualcomm Modems From 2018 iPhones The company switched from one iPhone to two back in 2014 when it debuted the iPhone 6 and iPhone 6 Plus, and it continued to release two new flagship iPhone models annually until previous year when it debuted the iPhone 8, iPhone 8 Plus, and iPhone X at the same time. [Full Article...]

Australian farmers say Trump's $12 billion aid package will hurt them

Australian farmers say Trump's $12 billion aid package will hurt them Trump has been critical of the European Union over its $150 billion trade surplus with the U.S. But Europe is only one front in Trump's attacks on trading partners. "We are close partners, allies - not enemies". Juncker, who had been somewhat defiant ahead of the meeting, said afterwards, "I had the intention to make a deal today". [Full Article...]

EU Fines Asus, Philips, Pioneer $130 Million for Online Price Fixing

EU Fines Asus, Philips, Pioneer $130 Million for Online Price Fixing The EC considers this practice to be "fixed or minimum resale price maintenance (RPM)", and is something that isn't allowed under European Union law. The fines total over €111 million between all four companies. Consequently, the consumer electronics companies' actions led to higher prices for consumers in Europe. If online sellers attempted to offer anything but the MSRP, the companies would th... [Full Article...]

Facebook stock falls 24 percent on forecast for slowing growth, rising expenses

Facebook stock falls 24 percent on forecast for slowing growth, rising expenses The second-quarter report sparked initial selling after it showed revenue and user growth came up short of expectations. But the after-hours drop wiped about $150 billion of its value. According to the research firm eMarketer, Facebook is expected to hold an 18 percent share of the $273.29 billion worldwide digital ad market, behind Google's 31 percent. [Full Article...]

Ahead of EU Meeting, Trump Rails at Domestic Critics

Ahead of EU Meeting, Trump Rails at Domestic Critics Congressman David Young shared his thoughts with Channel 13's Sonya Heitshusen. Election politics may also be at play here. "There isn't anything about this that anybody should like", said South Dakota Senator John Thune, a senior GOP figure, while Senator Ron Johnson (R-Wis.) raised the specter of the Soviet Union and its infamous central planning. [Full Article...]


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