Money

Money Argentina, IMF agree to fast track $50b loan payments
Author: 0 Argentina, IMF agree to fast track $50b loan payments

In response, the central bank has hiked interest rates to 45% and sold more than $13 billion in reserves, including $300 million in an auction on Wednesday. Chief IMF spokesman Gerry Rice said: "Argentina has the full support of the Fund and we are confident that the strong commitment and determination of the Argentine authorities will help the country overcome the current difficulties".

Money Panasonic to move European headquarters out of UK
Author: 0 Panasonic to move European headquarters out of UK

It is thought that the change in location will enable the firm to avoid potential tax issues following the impending Brexit. Panasonic's decision was driven by a fear that Japan could start considering the United Kingdom a tax haven if it cuts corporate tax rates to attract business, Abadie told the Nikkei Asian Review newspaper.

Money Trump warns Canada 'will be out' of trade deal unless it's 'fair'
Author: 0 Trump warns Canada 'will be out' of trade deal unless it's 'fair'

But these new decrees will not only raise the cost of autos and auto parts in the US, but require officials in Washington to waste time determining whether the deal is being followed or not, Stockman said . The withdrawal process would require Trump to give Mexico and Canada 6 months' notice of his intent to leave the pact. Further, Carney noted that failure to reach an agreement could have real consequences for Canada.

Money ETH Futures: Bad for Ethereum, Good for Bitcoin, Says Tom Lee
Author: 0 ETH Futures: Bad for Ethereum, Good for Bitcoin, Says Tom Lee

According to Business Insider , Tom Lee, a managing partner at Fundstrat Global Advisors, believes that Ether futures trading will alter the price narrative of the market. In recent times, it has emerged that between CFTC and the Securities and Exchange Commission ( SEC ), the former has a more lenient view of cryptocurrencies, whereas the latter has some reservations, about concepts.

Money President Trump cancels pay raise due federal workers in January
Author: 0 President Trump cancels pay raise due federal workers in January

In an August 30 letter to congressional leaders, Trump opted not to extend a pay raise to civilian employees, consistent with the White House's fiscal year 2019 budget proposal. "Across-the-board pay increases and locality pay increases, in particular, have long-term fixed costs, yet fail to address existing pay disparities or target mission critical recruitment and retention goals ".

Money Ford cancels plans to sell Focus Active in US
Author: 0 Ford cancels plans to sell Focus Active in US

But now with the tariff, Ford says it will scrap that plan and just not sell any new Focuses in the US next year. GM took a patriotic stance, arguing in the letter that, "Envision sales generate capital that GM can invest in the U.S". While the company has pledged to get back to a 10 per cent margin, it hasn't said by when. The automaker is in the midst of a global restructuring expected to cost $11 billion over the next three to five years.

Money Indian Rupee Crosses 71 Mark Against US Dollar For First Time
Author: 0 Indian Rupee Crosses 71 Mark Against US Dollar For First Time

It was also weighed down by weakness in Asian currencies. The rupee on Wednesday plunged to all-time low of 70.65 to the USA dollar in day trade on heavy month-end dollar demand from importers and foreign capital outflows. The rupee previously had closed at a record low of 70.16 to the dollar on Monday. "On the domestic front, the intensity of RBI's intervention has dissipated".

Money India`s economy grows at robust 8.2 percent in June quarter
Author: 0 India`s economy grows at robust 8.2 percent in June quarter

The latest period's annual pace beat a Reuters poll forecast of 7.6 percent, and was the highest since India logged 9.3 percent growth in the January-March quarter of 2016. "And when we reach Q3 and Q4, the rate of growth may decline and the annual growth rate may be more or less like last year's", he added. Bibek Debroy, Chairman of the Economic Advisory Council to Prime Minister (EAC-PM), said that the growth numbers indicate "superior acceleration in India's growth trajectory" and ...

Money Senior U.S. Democrats question Trump's U.S.-Mexico trade deal
Author: 0 Senior U.S. Democrats question Trump's U.S.-Mexico trade deal

There's still a lot of work to do in a short amount of time, she said. "They've been very bad to our farmers, particularly to our dairy farmers". A Globe and Mail report late Tuesday, which cited unnamed sources, said Ottawa was prepared to make concessions to Washington on Canada's protected dairy market.

Money WTO chief says 'no panic' over Trump withdrawal threat
Author: 0 WTO chief says 'no panic' over Trump withdrawal threat

US Trade Representative Robert Lighthizer has said allowing China into the WTO in 2001 was a mistake . If the USA withdraws from the WTO, it would potentially have far more significance for the global economy than the escalating trade war with China.

Money Canada, US NAFTA talks conclude with no deal; to resume next week
Author: 0 Canada, US NAFTA talks conclude with no deal; to resume next week

But prospects for a quick deal with Canada took a hit Friday morning after the revelation that Trump said he would not make any concessions to the country - remarks he later averred. Canadian and American negotiators will return to the bargaining table next Wednesday after a week of talks produced few signs the sides would budge on their most stubborn NAFTA positions.

Author: 0 Indian economy grows at 15-quarter high of 8.2% in Q1

Private sector lender HDFC Bank, in its research report, said that there are some genuine signs of revival in the economy as the major growth is likely to come from the manufacturing and the service sector. The economic activities which registered growth of over 7 percent in first quarter of 2018-19 over the same period of 2017-18 were manufacturing, electricity, gas, water supply and other utility services, construction and public administration, defence and other services.

Money Aston Martin to float on London Stock Exchange
Author: 0 Aston Martin to float on London Stock Exchange

The manufacturer of luxury cars - best known for appearing in the James Bond films - said it was "announcing its potential intention to undertake an initial public offering (IPO)", ending months of speculation about its plans to go public.

Money Warren Buffett buys more Apple stock, says iPhone 'enormously underpriced'
Author: 0 Warren Buffett buys more Apple stock, says iPhone 'enormously underpriced'

Warren Buffett, 88, likes the technology giant because of its devoted customers, and has added to his stake in the company by "just a little" since his last regulatory filing, he said Thursday in an interview with CNBC . In June, the group named Atul Gawande to lead the initiative, which will be based in Boston. Also, Berkshire says Buffett was not involved in the Paytm transaction.

Money Coca-Cola buys Costa Coffee from Whitbread for £3.9bn
Author: 0 Coca-Cola buys Costa Coffee from Whitbread for £3.9bn

Costa was one of the few big coffee chains up for sale after Nestle SA and the Reimann family's investment company JAB both went on an acquisition spree in the segment. It is now present on most British high streets, with 2,422 outlets across the country and a further 1,399 in global markets, operated as franchises, joint ventures and wholesale outlets.

Money Canada's Trudeau says NAFTA deal possible by Friday
Author: 0 Canada's Trudeau says NAFTA deal possible by Friday

The prime minister said Canada is "determined to conclude an agreement that's equitable for all the concerned parties". A spokesman for Canadian Foreign Minister Chrystia Freeland , who was due to arrive in Washington on August 28 for the talks, said Canada would only sign a new agreement that is good for the country.

Money President Trump Cancels Pay Raises For Federal Employees
Author: 0 President Trump Cancels Pay Raises For Federal Employees

Besides an across-the-board pay increase of 2.1 percent scheduled to go into effect in January 2019, Trump noted that locality pay increases taking place in high cost-of-living areas would amount to $25 billion. Trump frequently trumpets the military pay raise while listing his administration's accomplishments. The politics of the pay freeze could be dicey.

Money Federal Court of Appeal overturns Trans Mountain pipeline approval
Author: 0 Federal Court of Appeal overturns Trans Mountain pipeline approval

Shortly after the court ruling, Kinder Morgan Canada shareholders voted more than 99 per cent in favour of its $4.5 billion deal of the controversial project to the federal government . "My sense of it would be that the federal government should get on with the proper consultation and view this as a delay", he said. "This is going to unify all of us with one voice around competitiveness in Calgary and Canada and all that entails", she said.

Money JetBlue Raises Cost of Checked Bags
Author: 0 JetBlue Raises Cost of Checked Bags

The fee for a second checked bag was also increased from $35 to $40. Carry-on bags and one personal item are still free. Those flying on the carrier's Blue, Blue Plus or Mint fares face fees of up to $200 plus the difference in the ticketed price if they decide to change their flight plans.

Money Uber ‘to focus on bikes over cars’
Author: 0 Uber ‘to focus on bikes over cars’

In February the Uber app has the opportunity to take share in the electric bike. Mr. Khosrowshahi admitted that the plan to roll out electric bikes and scooters will have a significant effect on the company's current operation. Khosrowshahi foresees that completing these longer trips might be easier-if roads were less congested with Uber vehicles vying to complete short trips.

Money Records first strong GDP growth after recession
Author: 0 Records first strong GDP growth after recession

As a sector it contributed 8.55% to total real GDP in Q2 2018, down from 9.61% in the preceding quarter of Q1, 2018. Global Head of Currency Strategy & Market Research at FXTM, Jameel Ahmad, in a mail to Vanguard stated: "While the headline might be that growth slowed on a quarterly basis from 1.95 percent to 1.5 percent in Q2, the economy expanded on an annualized basis with growth close to 0.8 percent".

Money Elon Musk revives 'pedo' controversy in Twitter spat
Author: 0 Elon Musk revives 'pedo' controversy in Twitter spat

At one point, Musk even noted that "You don't think it's unusual he hasn't sued me?" After receiving requests online that he help in the Thai rescue efforts, Musk, together with SpaceX and Boring Co. Most of my time is spent. going round the [Tesla] factory. and if I'm not here I'm at the Giga [battery] factory in Nevada". Elon Musk seems to be spiraling at a frightening pace.

Money 99.3% of demonetised notes worth Rs 15.3 lakh crore returned: RBI
Author: 0 99.3% of demonetised notes worth Rs 15.3 lakh crore returned: RBI

The total value of banned notes, which RBI refers to as Specified Bank Notes (SBNs), in circulation as on 8 November 2016, post verification and reconciliation, was Rs 15.41 trillion. "That alone was a loss of Rs 2.25 lakh crore a year". In fact, the new Rs 500 notes that were issued have seen a bump in terms of counterfeit detection (199 pieces in 2016-17 to 9,892 pieces in 2017-18).

Money Donald Trump announces new trade deal with Mexico
Author: 0 Donald Trump announces new trade deal with Mexico

He has frequently called it "the worst deal" ever made. Canada , which is part of NAFTA , is not participating in the announcement. Congress will have to approve the deal. Mr. Trump has often lambasted Nafta as a disaster, but the core of the trade pact, which allows American companies to operate in Mexico and Canada without tariffs, remains intact.

Money Toyota pours $500M into self-driving cars tieup with Uber
Author: 0 Toyota pours $500M into self-driving cars tieup with Uber

As part of the pact, Toyota will manufacture Sienna minivans equipped with Uber's self-driving technology, and another company will operate the fleet. Uber's self-driving auto crash that led to the death of a mother-of-two could have been avoided, driverless vehicle experts have claimed. That includes licensing its autonomous technology to carmakers and enlisting a third party to own and maintain the fleet.

Author: 0 President Trump hails trade 'breakthrough' with Mexico

His sentiments were echoed by Vice President Mike Pence who said "The U.S. -Mexico Trade Agreement is a win for American ranchers, manufacturers and auto workers". Regardless of the roiling debate about USA trade law and negotiating tactics, Trump's imperiously dismissive tone about Canada today leaves little doubt the Washington-Ottawa relationship is badly frayed.

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