Business

South Africa slides into recession amid failing government reforms

Economists consider two consecutive quarters of negative economic growth a "technical recession". Numbers show that the economy shrank by 0.7% in the second quarter of this year (quarter-on-quarter annualised), while the first quarter's figures were revised down even further to -2.6% from -2.2%. [Full Article...]

Another Dem upset: Pressley beats 10-term Rep. Capuano in Boston primary

Another Dem upset: Pressley beats 10-term Rep. Capuano in Boston primary Michael Capuano from the deep-blue, Boston-based district. She served as former Secretary of State John Kerry's political director when he was a US senator and became the first black woman elected to the Boston City Council in 2009 . There is a changing of the guard in the 7th Congressional District, with shockwaves sure to reverberate throughout the Democratic Party. Unlike Ocasio-Cortez, who w... [Full Article...]

South Africa slips into recession

South Africa slips into recession However, the ruling African National Congress (ANC) has reaffirmed its commitment to the plan. But what does it mean for South Africa and its people? Mining output grew by 4.9% and finance by 1.9%, however. "There is no way to sugar coat the numbers, the growth picture in the first half of 2018 is ugly and it shows in this economy that there is broad-based weakness across the primary and tertiar... [Full Article...]

Amazon Becomes Second Company To Hit $1 Trillion After Apple

Amazon Becomes Second Company To Hit $1 Trillion After Apple By early afternoon, Amazon's stock was trading at $2,030 per share, up less than 1 percent, putting its market cap at $990 billion. Amazon has become the second company to be valued by Wall Street at $1tn, a matter of weeks after Apple beat the online retailer to reach the milestone first . [Full Article...]

Amazon is 2nd US company to reach $1-trillion market value

Amazon is 2nd US company to reach $1-trillion market value By early afternoon, Amazon's stock was trading at $2,030 per share, up less than 1 percent, putting its market cap at $990 billion. Amazon has become the second publicly traded company to be worth $1 trillion United States, hot on the heels of iPhone maker Apple. [Full Article...]

US crude prices rise as Gulf oil rigs evacuated; Brent dips

Anadarko Petroleum Corp said on Monday it had evacuated and shut production at two oil platforms in the Gulf of Mexico ahead of the approach of Gordon, which is expected to come ashore as a hurricane. LONDON-Oil prices started September higher Monday as investors refocused on looming risks to Iranian supply, despite signs of rising output from the U.S. [Full Article...]

Turkey hikes tax on forex deposits to prop up lira

Turkey hikes tax on forex deposits to prop up lira The US Dollar was up over 4 percent on Thursday against the Turkish currency, trading at 6.7422 by 1:00 p.m. London time. The president has long exerted pressure on the central bank to keep rates lows to encourage growth. "Lira weakness may remain a dominant theme amid ongoing fears of double digit inflation, the deepening of current account deficit and questions over the central bank independ... [Full Article...]

Raghuram Rajan responsible for economic slowdown, says Niti Aayog vice chairman

Raghuram Rajan responsible for economic slowdown, says Niti Aayog vice chairman NITI Aayog Vice Chairman Rajiv Kumar on Monday blamed former Reserve Bank of India (RBI) governor Raghuram Rajan for the economic slowdown and said there is no evidence to prove that slow growth was the result of demonetisation . In the following quarter (Q1 of fiscal year 2017-18), the growth rate slumped to a three-year low of 5.7 per cent. This is what is being compensated by the governme... [Full Article...]

ANC ‘concerned’ about Sasol white worker’s strike

ANC ‘concerned’ about Sasol white worker’s strike He said the objective to achieve 25% direct black ownership in Sasol South Africa is a step in the right direction and is in line with the Broad-Based Black Economic Empowerment legislation and should be supported. The petrochemical firm, which has around 26,000 employees at its local operations, said it received notification from the trade union of its intent to strike on Monday and was open to e... [Full Article...]

Australian Instagram influencer Sinead McNamara found dead on billionaire’s yacht in Greece

Australian Instagram influencer Sinead McNamara found dead on billionaire’s yacht in Greece Sinead McNamara , 20, had been working on the £108-million Mayan Queen IV superyacht for four months when she was discovered on Friday. She died while heading to the hospital, local reports stated. Her mother was heading to Greece on Sunday, according to the Sydney Morning Herald . "I have unfortunately received the worst news of my life, (Sinead) has passed away", the social media star's... [Full Article...]

Customer finds caterpillar in Veg Biryani in IKEA Hyderabad restaurant

Customer finds caterpillar in Veg Biryani in IKEA Hyderabad restaurant Almost a month after opening its first store in India, Swedish home furnishings retailer IKEA came in for embarrassment after a customer allegedly found a caterpillar in the vegetable biryani that was served to him. Apologising for the fault, an IKEA spokesperson was quoted by The News Minutes as saying, "We regret the incident and apologise to our customer for the unfortunate experience". [Full Article...]

John McCain Laid To Rest Beside Longtime Military Academy Friend

John McCain Laid To Rest Beside Longtime Military Academy Friend People in the room clapped and social media erupted. President Donald Trump was notably absent from the ceremony after he was asked not to attend, but several members of his administration were present. Mr McCain graduated from the elite Naval Academy in 1958, later serving in Vietnam as a fighter jet pilot. He campaigned for the Republican presidential nomination in 2000, but lost in the prim... [Full Article...]

Coca-Cola to acquire the Costa coffee chain from Whitbread at £3.9bn

Coca-Cola to acquire the Costa coffee chain from Whitbread at £3.9bn The largest manufacturer of fizzy drinks trying to expand the business, taking into account the consumers ' interest for healthier products and to profit from the rapidly growing coffee market , the newspaper notes. Whitbread owns renowned brands like Marriott, TGI Fridays and Pizza Hut as well as Beefeater and Brewers Fayre restaurants. It completes a years-long streamlining of FTSE 100 leis... [Full Article...]

Petrol, diesel prices scale new peaks today on rupee woes

Petrol, diesel prices scale new peaks today on rupee woes The price of petrol rose to a new high of Rs 86.56 a litre (increase by Rs 0.58/litre) in Mumbai on Monday, September 3. Diesel rates on Monday were hiked by 39 paise a litre, the steepest increase since the daily revision in prices was introduced in mid-june 2017. [Full Article...]

Lego built a driveable Bugatti Chiron out of blocks, and it's wonderful

Lego built a driveable Bugatti Chiron out of blocks, and it's wonderful LEGO has put together a working model of the world's fastest auto with more than a million bricks and 2,300 toy motors of the Bugatti Chiron - and the best part is it really drives. Company engineers also applied a flexible Technic skin to redevise the curvy body of the Bugatti . LEGO said that the hive of motivators is powered by a combination of 5.3 horsepower and 68 lb-ft of torque. [Full Article...]

Papa John's founder wants court to intercede

Papa John's founder wants court to intercede Amid its fight with founder John Schnatter, Papa John's global now must answer to a shareholder's lawsuit, which asserts that the company did not take adequate action to stop "a pattern of sexual harassment and other inappropriate workplace conduct" by executives. [Full Article...]

Chinese Billionaire Arrested In US Over Sexual Misconduct Allegations

Chinese Billionaire Arrested In US Over Sexual Misconduct Allegations Jail records did not provide details on Liu's arrest or the alleged incident, and police said they could comment because it's an active investigation. He declined to say where in Minneapolis Liu was arrested or what Liu was accused of doing. Liu was not charged or accused of wrongdoing, but Australian media reported he tried unsuccessfully to get a court to prevent the release of his name in that ... [Full Article...]

California lawmakers pass toughest net neutrality law

California lawmakers pass toughest net neutrality law In the latest effort by California lawmakers to drive national policy and rebuff President Donald Trump , lawmakers approved one of the nation's most aggressive efforts to revive regulations repealed past year by the Federal Communications Commission . [Full Article...]

Google Bought Mastercard Data To Track Your Offline Purchases For Ad-Targeting

Google Bought Mastercard Data To Track Your Offline Purchases For Ad-Targeting We do not have access to any personal information from our partners' credit and debit cards, nor do we share any personal information with our partners . Google emphasized in its statement that users can opt-out of ad-tracking at any time; however, the fact that no one knew this was happening makes that advice a little disingenuous. [Full Article...]

Trump jokes Sarah Huckabee Sanders having "a nervous breakdown"

Trump jokes Sarah Huckabee Sanders having During the president's interview with Bloomberg , he spoke about a variety of subjects, including tariffs, China and trade. "I've done everything that they requested and no, I don't think I have at all". "It seems contradictory to the message [of unity] he had in life", Neil Cavuto asked Ridge, adding that McCain's former aide Nicolle Wallace, now an MSNBC host and frequent Trump critic, was also... [Full Article...]


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