Economy

by | September 25, 2018 | 04:14

Kors has been expanding into high-end brands, buying the luxury shoemaker Jimmy Choo for nearly $1.4 billion previous year. The move is in line with the US brand's ambition to aggregate various luxury brands - including fashion, shoes and accessories - under one larger group.

by | September 24, 2018 | 22:37

But worst of all was the apprehension from within the ABC itself that her faltering relationship with the Federal Government was affecting the ABC's bottom line. Milne said the ABC must now push ahead with its "Jetstream" project, which involves building the digital infrastructure of the future. David Anderson , now director, entertainment and specialist, will serve as acting MD until a new appointment is made in the coming months.

by | September 23, 2018 | 19:00

USA crude inventories fell 2.1 million barrels last week to 394.1 million barrels, the lowest level since February 2015, government data showed. USA light crude oil was up 30 cents at $71.42 a barrel after rising almost 2% on Wednesday. Such technical arguments may inflame passions inside OPEC delegations, but they're drowned out by Trump's Twitter bullhorn, which was blasting loud and clear on Thursday.

by | September 22, 2018 | 14:24

The countries are the world's two largest economies. The OPEC Chief did not specify how crude producers would compensate for declining exports from Iran , with new United States sanctions due to hit the Islamic republic's oil industry on November the 4th.

by | September 21, 2018 | 17:16

It's not on. We can't put up with it". Police in Australia have arrested a "young person" who admitted to putting needles inside strawberries . Home Affairs Minister Peter Dutton told reporters on Wednesday that he was aware of 100 reports, according to Australia's ABC News .

by | September 21, 2018 | 16:14

Oxygen bags deployed from above the seats. He said he and other passengers had since boarded another flight that was about to depart around 11.00 a.m. I saw a passenger sitting next to me bleeding from nose, which was terrifying. The airline told Business Insider in a separate statement that the "5 guests who were referred to a hospital for additional medical check-up accompanied by the Jet Airways' Care team have since been released, post medical examination".

by | September 18, 2018 | 09:28

The IMF said that all likely Brexit scenarios would "entail costs for the United Kingdom economy", but that a disorderly departure could lead to "a significantly worse outcome". Many Brexit supporters say Britain must distance itself from Brussels in order to strike its own trade deals with fast-growing economies around the world.

by | September 17, 2018 | 12:06

NSW Police Force has received reports of strawberries contaminated with sewing needles and pins purchased at supermarkets at Tweed Heads, Taree, and Wingham. The Queensland Strawberry Growers Association believes a disgruntled farm worker may be responsible but police say they are investigating all aspects of the strawberry transit process.

by | September 10, 2018 | 13:01

In the U.S., Delta Airlines said in April that payment-card information for several hundred thousand customers could have been exposed by a malware breach months earlier. Cruz said anyone who lost out financially would be compensated by the airline. He added that no passport data had been obtained in what he called a "very sophisticated, malicious criminal attack".

by | September 05, 2018 | 16:10

The online retail behemoth's stock hit a new high of $2,049.50 per share around 11:30 a.m., Eastern time this morning, momentarily nudging its market cap over the trillion-dollar line. Bezos' stake in Amazon and his other assets are estimated to be worth $166 billion, according to the Bloomberg Billionaires Index . The tech juggernaut isn't alone anymore, however, as Amazon has reached $1 trillion valuation.

by | September 05, 2018 | 15:40

In nearby Connecticut, Jahana Hayes is on track to become that state's first black woman to win a congressional seat if she prevails in November. Boston City Councilor Ayanna Pressley beat a 10-term incumbent yesterday to win the Democratic nomination to run for the US Congress , and she immediately came out swinging at President Donald Trump.

by | September 05, 2018 | 00:00

Amazon is the second corporation to exceed $1 trillion in value after Apple , which crossed the threshold on August 2 . Shares of the e-commerce giant gained about 2% in trading on Tuesday to hit an all-time high of $2,050.27. It first reached $100 on October 23, 2009. Ben Barringer, an equity research analyst at Quilter Cheviot, said Amazon still has a long to way go, which means it could end up bigger then Apple.

by | September 04, 2018 | 17:26

The government will not cut excise duty on petrol and diesel to cushion spiralling prices, which touched fresh highs on Tuesday, as it has limited fiscal space available to take any dent in revenue collections, a top finance ministry official said.

by | September 03, 2018 | 20:45

Trump again took to Twitter on Saturday, reports the Financial Post , this time saying there was no political necessity to include Canada in the trilateral trade agreement and threatening Congress to stay out of the trade negotiations. "I love Canada, but they've taken advantage of our Country for many years!" tweeted the president. "We're encouraged by the open dialogue between the Trump and (Mexican President Enrique) Peña Nieto administrations, working toward a modernized trade ...

by | September 03, 2018 | 19:31

He also said that China will exempt certain African countries from outstanding debts incurred in the form of interest-free Chinese government loans due by the end of 2018. Breaking down the $60 billion China pledged to extend, Xi said $15 billion of those funds would be for aid, interest free and concessional loans, $20 billion would be set aside for as a new credit line, $10 billion for China-Africa development and five billion for imports.

by | September 01, 2018 | 20:02

Over 1 million individual LEGO components went into the build, including over 2,300 individual LEGO Power Functions motors, ganged together to produce enough power to move this 3,300 pound replica. This is also the first-time load-bearing parts were built purely out of LEGO . "Driving the LEGO Chiron was a great experience, which I thoroughly enjoyed".

by | September 01, 2018 | 19:24

Freeland, who later met with Mexican officials on Tuesday evening, said she is due to dig into detailed discussions with Lighthizer on Wednesday. Of the $149 billion worth of auto parts imported into the United States a year ago, 48 percent came from Mexico and Canada, according to the U.S.

by | August 30, 2018 | 17:25

Niti Aayog member and senior economist Bibek Debroy indicated that approximately Rs 1.6 lakh crore - 10% of the demonetised currency - would be extinguished and not come back into the system. "The total SBNs returned from circulation is Rs 15,310.73 billion". These estimates, it has not become clear, were wild guesses: the RBI has indicated that 99.3% of the demonetised currency or roughly Rs 15.31 lakh crore was returned.

by | August 28, 2018 | 13:38

Speaking as he arrived for talks at the U.S. Trade Representative's office, Guajardo said the negotiators would need at least a week to work with Canada , the third country in the trilateral trade pact, pushing any possible final deal into at least September.

by | August 24, 2018 | 05:11

Mr. Turnbull narrowly survived a vote against a senior government colleague on Tuesday, but is now likely to face a second leadership challenge, reports the BBC. Scott Morrison , Julie Bishop and Peter Dutton are the contenders for the Liberal leadership. The poll shows Ms Bishop as preferred PM over Mr Shorten 64 per cent to 36 per cent.

by | August 24, 2018 | 04:13

Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC) and OPEC's third-largest oil producer, said earlier this week no other OPEC member should be allowed to take over its share of oil exports. All those questions will be on the lips of the world's top central bankers when they gather tonight for the annual two-day Jackson Hole symposium hosted by the Federal Reserve Bank of Kansas City in the crisp mountain air of Wyoming.

by | August 21, 2018 | 11:59

Active across several continents, Sodastream makes a machine and refillable cylinders which allows domestic users to make their own carbonated drinks, which is increasingly seen as a healthier alternative to the sugary drinks popular for decades.

by | August 20, 2018 | 21:13

The SEC was created in 1934 in the midst of the Great Depression and requires publicly-traded companies to issue quarterly and annual earnings reports to keep the public informed on their operations and financial condition. "In the end, all companies have to balance short-term and long-term performance". The SEC has been reluctant to make any changes in quarterly financial reporting, which has always been a cornerstone of USA capital markets.

by | August 20, 2018 | 20:14

Investors must have gotten unnerved. The stock closed down 9% on Friday, and it's down 21% since the day Musk tweeted he had secured funding for a private takeover of Tesla . To reach those goals, Musk told the NYT he'd recently been working up to 120 hours a week, and the report noted he "alternated between tears and laughter", in the interview.

by | August 17, 2018 | 17:58

On Wednesday, Turkey rejected pastor Andrew Craig Brunson's appeal to be released from custody, and slapped additional tariffs on US imports. Turkey's lira fell once again after the trade minister, Ruhsar Pekcan, said Friday that her government would respond to any new trade duties, which U.S.

by | August 17, 2018 | 16:57

China has lodged a complaint to the World Trade Organisation to help determine the legality of the US policies, saying they not only harm China's rights but also undermine the WTO's authority, the ministry said on its website late on Tuesday.

by | August 15, 2018 | 20:56

The currency TRYTOM=D3 has lost almost 40 percent against the dollar this year, driven by worries over President Tayyip Erdogan's growing influence on the economy and his repeated calls for lower interest rates despite high inflation.

by | August 15, 2018 | 20:56

Iran is the third-largest producer among the members of the Organization of the Petroleum Exporting Countries (OPEC). On the bearish side, the escalating trade war could "lead to slower economic growth, and in turn lower oil demand". Georgi Slavov, of commodities trader Marex Spectron, said demand from oil refineries is expected to fall as profit margins tighten and the global economy appears to be producing the same output with less energy input.

by | August 15, 2018 | 19:57

Beppe Grillo, the outspoken comedian and co-founder of the Five Star Movement, one of two parties in Italy's current coalition government, reportedly dismissed warnings about the collapse of the Morandi Bridge as "a little fairy tale". While the apartments under the viaduct were largely spared the impact of the falling concrete, some 440 people evacuated from apartments under the shard of unscathed bridge face uncertainty about when, if ever, they will be allowed to live in their homes ...

by | August 15, 2018 | 13:23

The pastor was released for house arrest on July 25. He said that was likely to happen by the end of business on Wednesday. Asked how U.S. President Donald Trump's administration would react to any such Turkish boycott, White House Press Secretary Sarah Huckabee Sanders replied during Tuesday afternoon's briefing, "I certainly don't have a policy announcement on that at this point".

by | August 14, 2018 | 18:39

Tesla did not respond to a request for comment on the proposed class-action complaint filed in the federal court in San Francisco . The class includes investors who bought Tesla shares as they were rising in the wake of Musk's tweet.

by | August 14, 2018 | 18:39

The top US diplomat in Turkey has called for the cases against an American pastor and others held in Turkey to be resolved "without delay" and in a "fair and transparent manner". U.S. electronics like the iPhone may be banned in Turkey after the country's president declared a boycott Tuesday. Mr Erdogan suggested Turkey would stop procuring US-made iPhones and buy Korean Samsung or Turkish-made Vestel devices instead.

by | August 13, 2018 | 18:24

The sovereign wealth fund of Saudi Arabia is exploring a way to be a part of taking Tesla private , a Bloomberg report states. "The question is still around Tesla's future sales". While the entrepreneur owns 20 percent of Tesla , more than $60 billion would be needed to buy the business from public shareholders. In one of the two lawsuits, which was filed in federal court in San Francisco by Kalman Issacs, the plaintiff contends Tesla and Musk "embarked on a scheme and ...

by | August 11, 2018 | 20:34

Trump tweeted on Friday that he would be doubling existing tariffs on steel and aluminum imports from Turkey. "Our relations with Turkey are not good at this time! " he wrote. He added that the country will continue to enjoy good economic relations with several major nations. North Atlantic Treaty Organisation uses the Incirlik Air Base in Turkey to fight against IS and there has been some domestic pressure on Mr Erdogan to close it.

by | August 10, 2018 | 14:44

Its 50% to 61.8% retracement zone is $67.99 to $66.81. Not just China but Russian Federation too is determined to continue oil and gas trade with Iran. Gasoline stocks rose by 2.9 million barrels, compared with analysts' expectations in a Reuters poll for a 1.7 million barrel drop. The global benchmark crude traded at a $5.82 premium to WTI for the same month.

by | August 08, 2018 | 21:01

In July, the U.S. published a list of $200bn-worth of additional products to be hit with tariffs of 10% - a figure the United States is now considering raising to 25%. Trump also oddly boasted in OH that the tariffs would help the US pay off its $21 trillion debt (Trump is responsible for $1.9 trillion of debt). China plans to impose a 25% tariff on imports of US-manufactured solar cells - but the world's biggest manufacture of solar cells now imports few of the cells used to make panels ...

by | August 05, 2018 | 22:39

The U.S. labor market was a mixed picture in July, but overall remains in good shape. This trend is unlikely to persist, said Ellen Zentner, Morgan Stanley's chief U.S. The economy added 157,000 jobs in July, which was almost 30,000 less than expected. President Trump and Republicans have been trumpeting the stronger wage growth as a sign that their policies, particularly the large tax cuts that took effect on January 1, are working.

by | August 05, 2018 | 22:17

On the back of renewed tensions between Iran and the U.S., the Islamic Republic's President Hassan Rouhani delivered a thinly-veiled threat to hamper oil shipments in the Gulf. Iranian Minister of Roads and Urban Development Abbas Akhoundi said the government has imported plane parts along with five ATR turboprop airplanes landing in the country.

by | August 04, 2018 | 22:56

What these numbers do not show is that if USA goods are sent to China for assembly and then returned to the U.S., these so-called "intermediate goods" are considered Chinese imports, even if the parts are made in the US. This is down nearly 16 percent from the June peak, a period that coincides with the ramping up of tariffs by the United States, coupled with increasingly bellicose rhetoric.

by | August 03, 2018 | 18:41

State officials estimate the sales tax holiday will reduce state revenue by up to $16.9 million in 2020. The list of tax-exempt items includes: ice packs, most batteries, portable radios, duct tape, notebook paper, diapers and light bulbs.