Money

Air Force awards $9B contract to Boeing for new training jets

Air Force awards $9B contract to Boeing for new training jets Lockheed, the manufacturer of the F-35 Joint Strike Fighter, is the world's largest defense contractor by a wide margin, taking in $50 billion in USA contract dollars previous year compared with Boeing's $23 billion. The T-38 replacement program has been under development for 15 years now. Aboulafia estimates that Boeing spent $1.5 billion to create the new T-X design and build the proto... [Full Article...]

Elon Musk: 5 things to know about the SEC's fraud complaint

The latest slump came after the Securities and Exchange Commission (SEC ) filed a suit in NY accusing Musk of fraud. Musk told the SEC that the lead representative of the fund told him he would be fine with reasonable terms for a go-private deal. [Full Article...]

Iran oil exports fall before US sanctions: global banking group

He called on other nations not to rely on OPEC, lamenting the dependence Germany has on Russian Federation. It could cause Washington to take extraordinary steps, including the use of the Strategic Petroleum Reserve, to cool down the crude oil and other fuel prices ahead of the US mid-term elections. [Full Article...]

Michael Kors reportedly ready to buy Versace for $2B

Michael Kors reportedly ready to buy Versace for $2B But word that a deal is close sent Kors shares down nearly 9 per cent to as low as US$66.33 in NY on Monday, the biggest intraday drop since May 30. Michael Kors could not immediately be reached for comment. Last year , the London-based Michael Kors scooped up Jimmy Choo for $1.2 billion. The move is in line with the US brand's ambition to aggregate various luxury brands - including fashion,... [Full Article...]

Pompeo confident U.S. will win China trade war

Pompeo confident U.S. will win China trade war U.S. tariffs on $200 billion worth of Chinese goods and retaliatory tariffs by Beijing on $60 billion worth of USA products took effect at midday Asian time on Monday. "We will actively take all types of measures to help companies resolve their difficulties", Luo Wen, Vice Minister of Industry and Information Technology , said when asked about how companies would fare in the trade war. [Full Article...]

Indian Oil Refiner Part-Owned By Iranian Company Cancels Iran Oil Imports

Indian Oil Refiner Part-Owned By Iranian Company Cancels Iran Oil Imports The EU has promised to protect its business interests against the impact of U.S. sanctions against Iran. India will settle payments for Iranian oil using rupees through local banks starting in November as USA sanctions will make it hard to settle trades through European banks, two industry sources said on Thursday. [Full Article...]

Amazon Could Spend $3 Billion on 'Go' Stores, Analyst Says

Amazon Could Spend $3 Billion on 'Go' Stores, Analyst Says AmazonGo stores do not have cashiers. Amazon Go sells an array of prepared food alongside grab-and-go convenience-store grocery staples. Adding 3,000 convenience stores would make Amazon Go among the biggest chains in U.S. Food offerings include ready-to-eat breakfast, lunch, dinner and snack options made by the company's chefs and local kitchens and bakeries. Deeper into the store, sho... [Full Article...]

China's premier just ruled out currency manipulation as a trade war tactic

China's premier just ruled out currency manipulation as a trade war tactic The trade war between the U.S. and China deepened when President Donald Trump announced he would push ahead with tariffs on $200 billion in Chinese goods AFP/Paul J. He also threatened to impose taxes on virtually all of the remaining goods imported from China, amounting to $267 billion a year if China retaliates rather than changing its trade policies. [Full Article...]

Coca-Cola is Closely Eyeing the Cannabis-Infused Drink Market

Coca-Cola is Closely Eyeing the Cannabis-Infused Drink Market Molson Coors has also entered the marijuana space through a joint venture with Canada's Hydrotherapy Corporation to make non-alcoholic, cannabis-infused beverages. And Lagunitas, a craft beer label of brewing giant Heineken, already has a drink infused with THC, marijuana's active ingredient, which does produce a high. [Full Article...]

Trump poised to make major China trade announcement

Trump poised to make major China trade announcement In a statement Trump said the tariffs were the result of an investigation which found China had engaged in unfair trade and intellectual property practices for many years. The bad news was that "network router-type products" were added to the list of affected products and that addition could have serious implications for businesses, an official told CNN. [Full Article...]

Kudlow: Trump Has 'Not Been Satisfied' With China Trade Talks

Earlier Monday, White House chief economic adviser Larry Kudlow said at the Economic Club of New York, "We are ready to negotiate and talk with China any time that they are ready for serious and substantive negotiations" to reduce trade barriers. [Full Article...]

Typhoon Mangkhut kills scores in Philippines, hits China

Typhoon Mangkhut kills scores in Philippines, hits China In the past hour, the maximum sustained winds recorded at Tate's Cairn, Waglan Island and Cheung Chau were 114, 94 and 63 kilometers per hour with maximum gusts 149, 113 and 98 kilometers per hour respectively. The government and casinos are taking extra precautions after Macau was battered by Typhoon Hato a year ago, which left 12 dead. Residents were told to avoid Hong Kong's harbors, incl... [Full Article...]

Turkey raises interest rates to 24% in new bid to boost lira

Turkey raises interest rates to 24% in new bid to boost lira Several emerging markets have confronted the same struggles, dogged by a strengthening USA dollar that makes it more hard for countries such as Turkey to pay back hefty external debt . Subsequently, the lira lost some 25 percent of its value while Turkish authorities have taken a series of steps created to support the currency, with the central bank taking liquidity measures and the banking watc... [Full Article...]

Freeland to head back to Washington for high-level NAFTA negotiations

Freeland to head back to Washington for high-level NAFTA negotiations Trade Representative Robert Lighthizer over the weekend after their talks ended on Friday, and their teams have had "a lot of contact" since then. Freeland will head back to Canada for government business and to report to Canadian Prime Minister Justin Trudeau what transpired during the day's talks and where the negotiations stand. [Full Article...]

White House adviser admits Trump got his facts wrong in economy tweet

White House adviser admits Trump got his facts wrong in economy tweet In his comments with Fox Business , Wolfers did not see any significance in comparing the two figures as not only are they managing different things but they're two different types of statistics, with GDP measuring a rate of change and unemployment being a level. [Full Article...]

Trump threatens tariffs on all imports from China

Trump threatens tariffs on all imports from China The $200 billion list, which includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, would be subject to tariffs of 10 percent to 25 percent. Away from trade developments and emerging market turmoil, attention will be directed towards the U.S.jobs report coming out later today which will offer fresh insight into the health of the USA emp... [Full Article...]

Les Moonves expected to resign Sunday or Monday

Les Moonves expected to resign Sunday or Monday Like the first set of allegations lobbied against Moonves in Ronan Farrow's July article , the six women who came forward in Sunday's story described incidents that took place between the 1980s and early 2000s, and all six claimed they received professional retribution if they rebuffed his advances. [Full Article...]

British Airways Hacked: Details of 380,000 Bank Cards Stolen, Investigating Underway

British Airways Hacked: Details of 380,000 Bank Cards Stolen, Investigating Underway British Airways has warned customers of a data breach that has resulted in the credit card details - including full card verification value (CVV) digits - of some 380,000 customers being exposed to attackers as-yet unknown. The airline said it would manage any claims on an individual basis. However the 15-day breach did not involve travel or passport details and has been fixed, the airline added... [Full Article...]

Obama: Trump Is 'a Symptom, Not the Cause'

Obama: Trump Is 'a Symptom, Not the Cause' The Republican Party's refusal to compromise with Obama on health care , climate, deficit reduction, and so on was not because Obama treated them too arrogantly or refused to address the deficit seriously. Mr Trump told supporters in Montana yesterday that Republicans needed to maintain control of Congress to stave off possible impeachment proceedings against him, although Democrats have play... [Full Article...]

WTI breaches $ 69 support amid firmer USA dollar, easing storm threats

WTI breaches $ 69 support amid firmer USA dollar, easing storm threats On Friday, global oil bench mark Brent crude fell 35 cents to settle at $77.42 per barrel, while NYMEX-traded US benchmark West Texas Intermediate (WTI) was down 45 cents for the day to settle at $69.80 per barrel. Libya produced the highest quota of the output pumping as much as 970,000 barrels a day last month compared to 660,000 barrels a day in July, a Bloomberg News survey of analysts, ... [Full Article...]


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