Finance

Finance Rupee Breaches 73/$ Mark For The First Time Ever
Author: 0 Rupee Breaches 73/$ Mark For The First Time Ever

The rupee collapsed to a fresh low of 73.81 as the dollar reached a 11-month high against the yen and stood tall against other peers on upbeat U.S. data and comments from Federal Reserve Chairman Jerome Powell that were seen as hawkish. Yesterday, the rupee recovered to 73.04 to a United States dollar after touching an all-time low after the RBI intervention. China's financial markets are closed for the week.

Finance What it means for the US | Leadership — Replacing NAFTA
Author: 0 What it means for the US | Leadership — Replacing NAFTA

President Donald Trump said a new trade deal with Canada and Mexico would bring thousands of jobs back to North America in a "new dawn" for United States factory workers. Some lawmakers immediately expressed relief that Canada had been reinstated in the regional trading bloc. "NAFTA is a proven success". Iowa is the 11th leading state in dairy production with majority coming from the northeast and northwest corners of the state.

Finance Oil traders prepare for $100 per barrel price tag
Author: 0 Oil traders prepare for $100 per barrel price tag

The world now consumes about 100 million barrels a day of oil despite worries that electric cars and a rising trend toward renewable energy sources might one day reduce oil consumption. Meanwhile, the number of working oil rigs in the United States dropped for a second week, signalling that American output may also be slowing. Working oil rigs dropped by three to 863 last week, according to Baker Hughes data Friday.

Finance Amazon raising minimum wage for USA workers to $15 per hour
Author: 0 Amazon raising minimum wage for USA workers to $15 per hour

The web giant said on Tuesday that it would increase its minimum wage for employees across the United Kingdom to at least £9.50 an hour outside London, and £10.50 in the capital. The federal minimum wage hasn't risen since 2009. Bezos responded to Sanders on Twitter , thanking the senator and expressing hope that other companies will make similar policy changes.

Finance GE Abruptly Fires CEO John Flannery, Appoints Lawrence Culp as Chief Executive
Author: 0 GE Abruptly Fires CEO John Flannery, Appoints Lawrence Culp as Chief Executive

With a market capitalisation below US$100 billion as of Friday, GE was worth less than a fifth of its peak value a generation ago. GE has been hobbled by years of poorly timed deals and needless complexity. Flannery's departure comes as he was trying to turn around GE, including through a series of major planned divestitures from the sprawling company.

Finance Tesla produced record number of cars in third quarter
Author: 0 Tesla produced record number of cars in third quarter

Both Musk and Tesla will also have to pay 20 million-dollar fines . As part of the settlement, the company will appoint a new independent chairman, two independent directors and control Musk's communications. The SEC also said that Tesla had not put any procedures in place to determine that Musk's tweets about the company were accurate or complete. "The resolution is meant to prevent further market disruption and harm to Tesla's shareholders", Steven Peikin, co-director of the SEC's ...

Author: 0 Amazon Sets $15 Minimum Wage For U.S. Employees, Including Temps

What's more, Amazon (amzn)-the second-largest private-sector employer in the US -is now lobbying the government to increase the federally-mandated minimum wage, set nine years ago, from $7.25 an hour. One of the most prominent critics has been US Sen. Despite its domination, it shares one potential hurdle that is growing higher for nearly all employers big and small: a tightening labor market.

Finance U.S. and Canada agree free trade deal
Author: 0 U.S. and Canada agree free trade deal

The president said the United States-Mexico-Canada Agreement ( USMCA ), which replaces Nafta, would bring thousands of jobs back to North America. As a result, more American milk, butter, cheese and other dairy products will flow into Canada duty-free, with reciprocal treatment for Canadian dairy exports to the U.S.

Finance Fuel price hiked again, LPG to cost Rs 502.4 per cylinder
Author: 0 Fuel price hiked again, LPG to cost Rs 502.4 per cylinder

On Monday, petrol in Delhi was priced at Rs 83.73 per litre. Diesel costs Rs 79.72 in Mumbai at Indian Oil Corp outlets, while LPG prices soared at an all-time high of over Rs 500 due to a four-year high in oil prices. Indian Oil Corp fuel stations charged Rs 91.08 per litre for petrol, while Bharat Petroleum and Hindustan Petroleum charged even more. The fuel prices are the highest in Maharashtra due to heavy Value-Added Tax levied by the state government.

Author: 0 GE CEO Flannery Ousted After Brief Tenure

The company said Monday that H. Lawrence Culp Jr. will take over as chairman and CEO immediately. The company also said its power business had weaker-than-expected results and that its free cash flow and per-share earnings will fall short of its previous guidance for the year.

Finance California's 'gold standard' net neutrality becomes law
Author: 0 California's 'gold standard' net neutrality becomes law

The FCC has said instead that other agencies, such as the Federal Trade Commission, should take a more active role in protecting the public from violations of net neutrality. The department filed a lawsuit against the state, alleging the new piece of legislation is "unlawful and anti-consumer". They argued that it was unrealistic to expect them to comply with internet regulations that differ from state to state.

Finance Tesla Shares Jump; Elon Musk Says Company Close To Achieving Profit
Author: 0 Tesla Shares Jump; Elon Musk Says Company Close To Achieving Profit

Musk has gained legions of fans for his bold approach to business and technology, using his 23 million Twitter followers account to promote Tesla , his rocket company SpaceX, and tunnel venture, the Boring Co. Musk did not found Tesla but provided early financing. That settlement must still be approved by a court, and does not end the Justice Department probe disclosed by Tesla into Musk's tweets or lawsuits by short-sellers and other investors alleging losses and securities law ...

Finance Facebook Facing $1.63 Billion EU Fine Over Recent Hack
Author: 0 Facebook Facing $1.63 Billion EU Fine Over Recent Hack

Access tokens are the equivalent of digital keys that keep people logged in to Facebook so they don't need to re-enter their password every time they use the app. You can also try deactivating your account for some time, as reactivating it will also grant new access tokens, while old tokens will automatically expire.

Author: 0 Elon Musk’s "Funding Secured" Tweet Just Cost Him & Tesla $40 Million

But Musk, who is synonymous with the Tesla brand, will remain as chief executive under the settlement over tweets he posted on August 7 about taking the company private, the SEC said. A more assertive board could provide the kind of tighter oversight that many legal experts, and Tesla investors, say is overdue for a company of Tesla's market value.

Finance US, Canada reach trade deal hours before self-imposed deadline
Author: 0 US, Canada reach trade deal hours before self-imposed deadline

CTV cited a high-level American source as saying the two sides had reached an agreement and that a joint statement was expected. Canada and the USA have reached a last-minute free trade deal to revamp the long-standing NAFTA pact between the two countries and Mexico.

Finance Facebook data breach, 50 million accounts have been compromised
Author: 0 Facebook data breach, 50 million accounts have been compromised

As a precautionary measure Facebook has reset the access verification for an additional 40 million accounts. It has also reset the access tokens of the close to 50 million affected members along with an additional 40 million who were "subject to a " View As " look up in the previous year".

Finance United States and Canada poised to finish NAFTA deal this weekend
Author: 0 United States and Canada poised to finish NAFTA deal this weekend

The source said there are tentative plans for Mr. Trudeau and Foreign Affairs Minister Chrystia Freeland to hold a news conference announcing a deal either Sunday night or Monday morning if the talks continue to progress. Prime Minister Justin Trudeau pauses to talk to reporters as he makes his way into the House of Commons on Parliament Hill in Ottawa on Wednesday, Sept.

Finance McDonald's is giving away free coffees of any size tomorrow
Author: 0 McDonald's is giving away free coffees of any size tomorrow

A look at the origins of coffee and how it became the pervasive drink it is today . There are plenty of popular cafes offering free cups of joe, as well as discounts on coffee beans and donations to coffee farmers in need. Wawa : Members of Wawa Rewards get a free cup of coffee Saturday with a coupon in the app. With a coupon in the myPilot app , get a free cup of Pilot coffee at the travel centers on Saturday.

Finance Today's Market Driver is Geopolitics, Fed is Already Old News
Author: 0 Today's Market Driver is Geopolitics, Fed is Already Old News

Many analysts think the economy could weaken next year, in part from the effects of the trade conflicts President Donald Trump has pursued with China, Canada, Europe and other trading partners. At their meeting last month, policymakers said another rate hike was likely to be appropriate "soon", all but announcing their intentions to raise rates by another 25 basis points on Wednesday.

Finance SEC fraud suit against Elon Musk threatens to unravel Tesla
Author: 0 SEC fraud suit against Elon Musk threatens to unravel Tesla

Tesla's stock sank 14 percent Friday, putting pressure on CEO Elon Musk and the electric-carmaker's board to reach a settlement with the Securities and Exchange Commission, which sued Musk on Thursday. That seems like enforcement overkill, though the bigger risk for Tesla investors is an autonomous-driving CEO that can't be controlled or easily replaced.

Author: 0 Oil jumps, then pares gains as Trump pressures Opec again

But Riyadh decided against pressing for an official increase now as it realized it would not secure agreement from all producers present at the talks, some of which lack spare production capacity and would be unable to boost output quickly.

Finance Tesla Builds Its Own Car Carriers to Keep Up With Demand
Author: 0 Tesla Builds Its Own Car Carriers to Keep Up With Demand

Musk alluded to the pressure the company is under in an email to employees published as a blog post on September 7, Tesla "is about to have the most unbelievable quarter in our history, building and delivering more than twice as many cars as we did last quarter", he wrote.

Author: 0 Trump says he rejected meeting with Canada's Trudeau

And he warned the U.S. would soon go after Canadian auto imports. The two leaders have spent little time together since, suggesting that the G7 gathering was a turning point in one of the most important high-level diplomatic relationships in the world.

Finance Fox and Disney to sell minority Sky stake to Comcast
Author: 0 Fox and Disney to sell minority Sky stake to Comcast

The agreement ends a long-running battle for control of Sky by Murdoch in the face of resistance by British regulators and firms up the new landscape in the sector with Comcast in control of Sky and Disney set to expand its footprint with television and film assets from Fox .

Author: 0 Oil Gains After U.S. Holds Fire on Opening Reserves

Iran is the third biggest producer of oil in the Organization of the Petroleum Exporting Countries (OPEC). If Iranian supply turns out tighter than anticipated and prices rise further, a formal production increase from OPEC and allies next year may still be possible and will be discussed at a meeting on December 6-7, the two sources said.

Finance U.S. stocks end lower as Fed lifts interest rates again
Author: 0 U.S. stocks end lower as Fed lifts interest rates again

Apart from a speech from Bank of Japan Governor Kuroda late in the Asian session, there's little in the way of releases given the Fed , and RBNZ, rate decisions have now come and gone. Analysts at Rabobank International said, "We would like to add that with recent data indicating that domestic momentum remains strong - the Atlanta Fed's GDP nowcast for Q3 stood at 4.4 per cent on September 19 - it would take time for the trade war to slow USA economic growth down to a pace that would concern ...

Finance Saudi Arabia faces decisive resolution regarding oil price battle
Author: 0 Saudi Arabia faces decisive resolution regarding oil price battle

Brent crude, the benchmark for more than half the world's oil , was trading up 1.6 percent at $80.02 a barrel at 1:34 p.m. Singapore time. Alexander Novak , energy minister for the former Soviet Union, said his country is ready to hike its oil output after the implementation of USA sanctions on Iran: "I don't think we can discuss the exact number at this point but what I can tell you for sure is that we have significant potential to increase our production".

Author: 0 Oil falters as Trump ups pressure while Goldman dissuades bulls

The so-called 'OPEC +' group, which includes other oil producers, including the world's biggest Russian Federation, as well as Oman and Kazakhstan, met over the weekend to discuss a possible increase in crude output, but the group did not see the need to add new output as the market is well-supplied now.

Finance Michael Kors agrees to buy Versace
Author: 0 Michael Kors agrees to buy Versace

The management team would continue to be led by CEO Jonathan Akeryod, explained Kors, adding that Donatella, her daughter, Allegra, and Santo would become shareholders in Capri Holdings. Idol said that Donatella Versace , artistic director and vice president of the Italian group, would stay on to lead the label's creative vision, saying her "iconic style" was "at the heart of the design aesthetic of Versace ".

Finance May's inner circle begins planning for snap election
Author: 0 May's inner circle begins planning for snap election

After being apparently taken aback by fellow leaders' stance in Salzburg, May complained that the European Union had not detailed its reasons for rejecting Chequers, named after her residence where she hammered it out with ministers as a compromise solution.

Finance $100 Oil Is A Distinct Possibility - FleetPointFleetPoint
Author: 0 $100 Oil Is A Distinct Possibility - FleetPointFleetPoint

Brent was trading up 2.28% at $80.60 a barrel on Monday, while West Texas Intermediate - the USA benchmark - was trading up 1.81% at $72.06 a barrel on the New York Mercantile Exchange. Several months ago, OPEC+ (the name given to OPEC and its allies) agreed to increase output about 1.4 million barrels per day to cover the expected shortage.

Finance Donald Trump Literally Laughed At By World Leaders During United Nations Speech
Author: 0 Donald Trump Literally Laughed At By World Leaders During United Nations Speech

We only ask that you honour our sovereignty in return". " Iran's leaders plunder the nation's resources to spread mayhem across the Middle East and far beyond". His tax reform is possibly the most historic action Trump has guided, which has helped many small businesses (and big businesses). "It is ironic that the USA government doesn't even hide its plan for overthrowing the same government it invites to talks", he said.

Finance Instagram co-founders resign after 'clash' with Facebook's Zuck
Author: 0 Instagram co-founders resign after 'clash' with Facebook's Zuck

Facebook's stock has taken a dramatic plunge in the wake of the scandal with Cambridge Analytica , which used an online quiz to harvest and collate Facebook users' information online. Instagram and Facebook have operated independently and the two services barely mention each other. Kevin Systrom and Mike Krieger founded the photo-sharing app in a co-working space in 2010.

Finance Cryptocurrencies rally over Ripple's digital coin issuance
Author: 0 Cryptocurrencies rally over Ripple's digital coin issuance

Ripple says that this number is more than three times the official government aid that has been received previous year. XRP's official Twitter account is @ Ripple and its Facebook page is accessible here. "How do we circumvent banks?'" This attitude has helped Ripple gain crucial partnerships with important financial players. The xRapid has been catered mostly to banks.

Finance UN General Assembly Laughs as Trump Brags About His Administration
Author: 0 UN General Assembly Laughs as Trump Brags About His Administration

Security Council. While relations with Kim have improved dramatically, leaders attending the annual assembly expect this year to hear Trump espouse a hard line on a different USA adversary, Iran's Hassan Rouhani. He added, "In less than two years, my administration has accomplished more than nearly any administration in the history of our country". His boast elicited laughter from the scores of heads of state and delegates in the audience for the speech.

Finance China says can’t hold USA trade talks with 'knife to the throat'
Author: 0 China says can’t hold USA trade talks with 'knife to the throat'

The United States imposed tariffs on $200 billion of Chinese goods in the early hours, intensifying the acrimonious dispute. China's customs agency said it responded at noon by beginning to collect taxes of 5 or 10 per cent on a $60 billion list of 5,207 American goods, from honey to industrial chemicals.

Finance Michael Kors Nears Deal for Versace for More Than 2 Billion Euros
Author: 0 Michael Kors Nears Deal for Versace for More Than 2 Billion Euros

Sources confirmed Kors is close to buying Versace for about 2 billion euros, a deal that is expected to close this week. "Would Michael Kors have what it takes to succeed in this?" Versace is 80% controlled by the late designer's family, with private equity firm Blackstone holding a 20% stake.

Finance Could you spend 30 hours in a coffin?
Author: 0 Could you spend 30 hours in a coffin?

If more than one makes it to 30 hours, a drawing will determine who gets the $300. What's allowed: a pillow and blanket, a cellphone to while away the time, and a friend, though that friend will have to leave when the park closes and can't come back till opening time the next day.