Money

Amazon becomes second USA firm to hit trillion-dollar market value

Amazon becomes second USA firm to hit trillion-dollar market value Amazon's market valuation in recent weeks pulled ahead of two other tech giants - Google's parent company, Alphabet, and Microsoft - to hit the $1 trillion mark. 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. [Full Article...]

Trump nixes federal pay raise

Trump nixes federal pay raise However, in the budget plan he released earlier this year, setting spending priorities for the coming year, Trump indicated he would seek a freeze on federal pay. Trump frequently trumpets the military pay raise while listing his administration's accomplishments. In fact, the Congressional Budget Office predicts that the budget deficit will surpass $ 1 trillion for the 2019 fiscal year. [Full Article...]

Buffett says Berkshire buying own stock, more Apple

Buffett says Berkshire buying own stock, more Apple Berkshire Hathaway invested Rs. 25 billion ($356 million) in the Indian company behind digital payments firm Paytm, according to a source with direct knowledge of the deal, in a foray by the conglomerate into India and the financial payments industry. [Full Article...]

Donald Trump Cancels Pay Raises For Federal Employees

Donald Trump Cancels Pay Raises For Federal Employees The president last year signed a package of tax cuts that is forecast to expand the deficit by about $1.5 trillion over 10 years. Instead of giving across-the-board increases, which he says don't address pay disparities or accomplish mission or retention goals, he wants to move to a merit-based system that rewards employees for their performance. [Full Article...]

Facebook rolls out video-on-demand service ‘Watch’ globally

Facebook rolls out video-on-demand service ‘Watch’ globally Facebook's Watch is now available worldwide. Additionally, the company is rolling out its Ad Breaks service, which is created to allow companies to monetize their content, in a number of markets. It called Watch a "new platform for shows" in 2017. Another study also found out that Watch shows struggled to retain audience. The in-stream ad unit runs up to 15-seconds long and includes both pr... [Full Article...]

Michael Cohen’s lawyer walks back claim Trump knew of Russia meeting

Michael Cohen’s lawyer walks back claim Trump knew of Russia meeting Manafort was convicted last week on eight of 18 criminal counts related to financial and tax fraud. He said recently he knew about payments "later on". "They are the comments of a man who has no respect for the law", said Allan Lichtman, a political historian who teaches at American University. A co-operation deal between Weisselberg and prosecutors could be damaging to the president given the exe... [Full Article...]

Donald Trump announces new trade deal with Mexico

Donald Trump announces new trade deal with Mexico Trump , sitting behind the Resolute Desk in the Oval Office, attempted to take a phone call with Mexican President Enrique Peña Nieto to congratulate him on the agreement. He added he plans to terminate the existing trade agreement and instead replace it with the deal reached with Mexico, and potentially Canada. How quickly Canada will rejoin talks remains unclear. [Full Article...]

Councilman Wants Mobile Companies to Explain 'Throttling' of First Responders

Councilman Wants Mobile Companies to Explain 'Throttling' of First Responders In an addendum to a brief filed Monday as part of litigation supporting net-neutrality policies, Santa Clara County Fire Chief Anthony Bowden outlined his department's unsuccessful efforts to convince Verizon representatives to restore normal data speeds to OES Incident Support Unit 5262 (OES 5262) in response to the Mendocino Complex Fire , which is now the largest in California history. [Full Article...]

US dollar declines amid Fed Chair Powell's speech

US dollar declines amid Fed Chair Powell's speech The benchmark S&P 500 and the Nasdaq hit all-time highs after Powell's comments at an annual meeting of central bankers did little to change market expectations of an interest rate hike in September and perhaps again in December. The Kansas City Fed's annual conference here in Grand Teton National Park is among the central bank's higher profile annual events, drawing global media attention and a... [Full Article...]

Trump Org CFO Allen Weisselberg given immunity by prosecutors to testify

Trump Org CFO Allen Weisselberg given immunity by prosecutors to testify At times a bully for a family-run business, Cohen was known for his hot temper as he strong-armed city workers, reluctant business partners and reporters. A dispute soon broke out between Cohen and Trump over who would pay the former fixer's mounting legal bills. Such payments could be considered illegal campaign contributions under federal election law. [Full Article...]

Team Trump warns impeachment would prompt revolt, economic crash

Team Trump warns impeachment would prompt revolt, economic crash Michael Cohen , Trump's one-time "fixer" and attorney was convicted on eight counts of campaign finance violations, tax fraud, and bank fraud in a plea deal with prosecutors reached earlier this week. Trump allies have also pointed to the unsuccessful prosecution of 2008 presidential candidate John Edwards, who was accused in a similar hush-money scheme. [Full Article...]

Allen Weisselberg, Trump Organization CFO, Granted Immunity In Cohen Investigation

Weisselberg, 70, began working for the Trump Organization as an accountant in the 1970s, when President Donald Trump's father Fred ran the company. Trump has denied there was an affair. Asked about what he thought of a last-minute order by Mr Trump to catch a flight to Iowa to tend to some business during the campaign, Mr Weisselberg said in one deposition that "it doesn't matter what I thou... [Full Article...]

Fed ready to hike again if economy remains on track

Fed ready to hike again if economy remains on track FILE PHOTO: A security guard patrols the Federal Reserve building in Washington, DC, U.S., July 16, 2018. In an interview with American Public Media's "Marketplace" radio show in July, Powell said he was "deeply committed" to maintaining the Fed's tradition of preserving its independence from political concerns. [Full Article...]

Whiteboards used as Gatwick flight information screens fail

Whiteboards used as Gatwick flight information screens fail The airport set up whiteboards to direct passengers to their gates because sometimes low tech is the best solution to high-tech problems. A Vodafone spokeswoman told Business Insider: "We have identified a damaged fibre cable which is used by Gatwick Airport to display flight information". [Full Article...]

PepsiCo to buy Israel's SodaStream in US$3.2b deal

PepsiCo to buy Israel's SodaStream in US$3.2b deal Such carbonated drinks often mimic the taste and consistency of store-bought, more sugary drinks-like Pepsi. "Together, we can advance our shared vision of a healthier, more sustainable planet", she added. "We are honoured to be chosen as PepsiCo's beachhead for at home preparation to empower consumers around the world with additional choices". The acquisition also is a pitch to consumers conc... [Full Article...]

Trump asks SEC to study 6-month corporate reporting instead of quarterly

Trump asks SEC to study 6-month corporate reporting instead of quarterly President Donald Trump on Friday said he had instructed the US Securities and Exchanges Commission to investigate the abolition of quarterly financial reporting for US companies. Chairman Jay Clayton issued a statement Friday saying the agency "continues to study" reporting requirements, including how frequently companies should announce results. [Full Article...]

Death toll from Italy bridge collapse rises to 41

Death toll from Italy bridge collapse rises to 41 Rescue workers searched through tons of concrete and steel from the collapsed Genoa highway bridge for a fourth day on Friday as Italians prepared to bury the 38 victims of a disaster that has angered the public and rattled industry. The 51-year-old Morandi Bridge was a key artery that linked highways to Milan and France, and authorities are wrangling over who should be held responsible for its ... [Full Article...]

Turkey's president says country will defy economic threats

Turkey's president says country will defy economic threats In a telephone call on Friday, Finance Minister Berat Albayrak and his French counterpart Bruno Le Maire discussed US sanctions against Turkey and cooperation between their countries, Albayrak's ministry said. The feud over Brunson, who was detained in October 2016, has added to the jitters over an economy that grew quickly, with the help of heavy borrowing, in past years. [Full Article...]

Turkish court rejects US pastor Brunson's appeal for release

Turkish court rejects US pastor Brunson's appeal for release Economists gave Albayrak's presentation a qualified welcome and the lira initially found some support, helped by Qatar's pledge to invest $15 billion in Turkey . And the day earlier, two Greek soldiers held by Turkey since March for illegally crossing the border were also freed. The leader of Turkey's main opposition party said Erdogan was using the standoff over the evangelical pastor as a... [Full Article...]

Erdogan, Macron vow to boost economic ties - Turkish presidential source

Erdogan, Macron vow to boost economic ties - Turkish presidential source The feud escalated into an economic battle with global consequences this week as the Turkish currency, the lira , plummeted in value over fears of the country's economic stability stemming from the harsh USA sanctions. "So anything other than weapons purchases. would not hurt the United States". U.S. national security adviser John Bolton on Monday met Turkey's ambassador to the United States ... [Full Article...]


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