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Business

Rupee breaches 70 but markets, government unfazed

Asian currencies except Japanese yen trade on a weaker footing . Previously, the rupee had dropped 2.4 per cent or 148 paise in a single day in August 2013. Subhash Chandra Garg, secretary at the department of economic affairs, said the rupee was still performing better than some other currencies, and that the country had sufficient foreign exchange reserves.

Business

Tesla Special Committee to Evaluate Possibility of Taking Company Private

Silver Lake contributed $1 billion for the 2013 Dell transaction. "His suit states that "the fraudulent nature of Musk's statements was uncovered over the next two days when neither Tesla nor Musk substantiated Musk's claim that there was secure financing for a going-private transaction at $420 [$AU577] a share" and causing the stock price to drop from "$379.57 [$AU521] per share, on August 7, 2018, to close at $352.27 [$AU484] per share, on August 9, 2018".

Business

Family, friends remember former Wasilla man who stole commercial airplane

Authorities say that he was suicidal, and luckily no one else was on board. Early reports indicated the suspect was speaking to air traffic controllers. "Here we have an employee who was vetted to the level to have access to the aircraft and had a skill set proficient enough to take off with that plane ".

Business

Erdogan vows Turkish economy will grow strongly

Trump's move reflects a confluence of factors that have led to worsening relations between the White House and Turkish President Recep Tayyip Erdogan , and his willingness to ratchet up economic pain on Turkey could lead to a much bigger clash.

Business

Tech stocks take Nasdaq, S&P close to record

The Toronto Stock Exchange's S&P/TSX fell 90.47 points, or 0.55 per cent, to 16,326.51, led lower by the health care, consumer staples and utilities sectors. In corporate news, shares of Dropbox Inc. were lower after a second-quarter earnings report, which also included news that Chief Operating Officer Dennis Woodside was stepping down and a post-IPO lockup on shares would expire earlier than previously planned.

Business

Jury awards man $289M for claim Roundup weed killer caused cancer

In June, Monsanto became a unit of Bayer AG, which further consolidated its monopoly over the global seed and chemical market. The company has already stated that it plans to appeal the verdict, and a Bayer spokesman has told the BBC that glyphosate is safe to use.

Business

Turkey shaken by financial fears, Trump rattles it further

Since some of Turkey's debt is in dollars, it's also making the country's financial situation worse. With Monday's opening gap taking the EUR/USD into a new 12-month low into 1.1380, the Asia trading session is likely to see the gap close, taking the pair back to the 1.1400 technical level, where selling could begin anew if positive headlines regarding banking sector exposure to Turkey fail to materialize quickly at the outset of the European market session.

Business

Russian Federation to US: Restoring Iran bans 'absolutely destructive'

In several videos posted to social media over the past week, crowds of dissidents are heard chanting, "Death to the dictator" as the United States prepared to reinstate sanctions on the country following President Donald Trump's exit from the worldwide nuclear deal in May.

Business

Tesla Gains Nearly $4 Billion After Single Questionable Elon Musk Tweet

They closed at $379.57 - up 11 percent, but far from the $420 price Musk was dangling. He has frequently lambasted "short" sellers of Tesla shares - those who take bets that the stock will fall in value. The company had a market value of $58 billion as of Monday's close. Reports of the PIF stake have pushed Tesla stock to a session high, surging 6.59% to 364.54 at the time of publication.

Business

British holidaymakers swelter in record-breaking European heatwave

A British Met Office meteorologist said the current record of 48C in Athens, Greece, in 1977 could be broken as a wave of blisteringly hot air sweeps in from Africa. 'Tourists in Spain and Portugal clearly need to take care in such high temperatures. Spain could beat its record of 47.3ºC set a year ago, and Portugal could go past its 47.4ºC record set in 2003.

Business

Twitter reacts to Conor McGregor’s return against Khabib Nurmagomedov

He plays hard, but he trains even harder. Plenty of fans and officials were delighted Friday when the UFC announced that Conor McGregor would fight Khabib Nurmagomedov for the lightweight belt in his long-awaited return during UFC 229 .

Business

Secretary of State Pompeo Meets with Turkey's Foreign Minister in Singapore

State Department spokeswoman Heather Nauert said Pompeo and Cavusoglu "had a constructive conversation" and "agreed to continue to try to resolve the issues between our two countries". The Foreign Ministry said it would retaliate against what it called Washington's hostile action. Mr. Erdogan's government also alleges the Mr. Brunson has ties to a Turkish preacher now living in exile in the US whom Ankara accuses of fomenting the coup.

Business

China targets $81B of US goods for tariff retaliation

China on Friday threatened to impose tariffs on $ 60 billion worth of U.S. goods. China, which purchased nearly 14 percent of all U.S. LNG shipped between February 2016 and May 2018, has taken delivery from just one vessel that left the United States in June and none so far in July, compared with 17 in the first five months of the year.

Business

Apple hits $1,000,000,000,000

It's since fallen slightly, but not enough to knock Apple back down into the billions. After Steve Jobs returned to Apple as the CEO in 1997, he axed most of the product lines to focus on PCs. The first company to hit $10 million in market capitalization had a 20 year charter to start, and was championed by Alexander Hamilton. Cook didn't invent that approach, but his stewardship of the company has been admirable, as borne out by the increase of over 285% in Apple's share price ...

Business

Alert issued for salads, wraps due to parasite concern

The agency was alerted to the issue when Indianapolis-based food distributor Caito Foods "received notification from their lettuce supplier, Fresh Express, that the chopped romaine that is used to manufacture some of their salads and wraps was being recalled".

Business

Soybean farmers anxious, even with $12B in aid, and European Union promises

In addition, the US runs a trade deficit with the EU , which means Americans buy more stuff from the Europeans than vice versa. In an interview with CNBC that aired Friday morning, Trump renewed his threat to ultimately slap tariffs on a total of $500 billion of imports from China-roughly equal to all the goods Beijing ships annually to the United States .

Business

Facebook sued for misleading investors before stock plunge

The lawsuit is designed for class-action status and seeks unspecified damages. A Facebook spokesman declined to comment. The drop translates to a US$119.4 billion ($176 billion) decline in market capitalisation, the largest-ever loss of value in one day for a USA traded company.

Business

Apple beats earnings expectations with $53.3B in revenue, stock up 3%

Its mobile unit reported a 22 percent drop in sales revenue to $20.2 billion from the same time previous year. A higher ASP means customers purchased more high-end handsets such as the iPhone 8 Plus and iPhone X , versus the iPhone 8 and prior generation models.

Business

McDonald’s launches ‘MacCoin’ - but it’s really just a coupon

And that seems to be the case with the McDonald's Big Mac. As for how to actually procure a MacCoin, though, the company is a wee bit more vague in a press release : "a variety of exciting giveaways with each participating country celebrating the arrival of the MacCoin in its own unique way".

Business

Trump and top European leader agree to work toward zero tariffs

More: Foe or frenemy? China has struck back with duties on soybeans and pork, affecting mid-western U.S. farmers in a region of the country that supported the president in his 2016 campaign. He added: "There's no there there". -European relations, following criticism Trump leveled at the leaders of Germany and the United Kingdom. Mr Juncker, meanwhile, said the U.S.

Business

Amazon beats on profit, disappoints on revenue

A July event that the company created to drum up business during the summer shopping lulls, Prime Day, has become a bonafide event to rival Black Friday. Amazon Web Services (AWS), the company's profit center, posted a 49 percent rise in sales to $6.1 billion, also beating the average estimate of $6 billion.

Business

Donald Trump Says US And EU Will Work Towards 'Zero Tariffs' Trade

Farmers in Iowa alone could lose as much as $624 million on soybean shipments to China , Donnelle Eller, an agriculture reporter with the Des Moines Register, told CBSN last month. "If the problem is the deficit, then we can't fix it", the official said. Sen. The administration recently announced a $12 billion temporary aid package for farmers - including soybean producers - dealing with the impact of retaliatory tariffs.

Business

‘First-time’ kiss with Trump caught EU’s Juncker by surprise

At the start of this month, China retaliated against Trump by imposing its own 25 per cent tariffs on key USA products, primarily made in the Midwest states most loyal to the President. He has long complained that the WTO has been unfair to the United States, despite the fact the USA has won most of the disputes against China and others.

Business

China to pull approval for Facebook's planned venture

Facebook said yesterday it planned to create an "innovation hub" to support local start-ups . 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.

Business

Twitter shares plunge 20.5 percent

But it is a necessary strategy if Twitter is to gain the trust of many advertisers. Allegations of Russian meddling in the 2016 US election by spreading misleading or divisive content over social media have made the issue of improving control over accounts and content critical for Twitter.