Tuesday August 21-st, 2018

Twitter shares plunge on news of drop in users Twitter shares plunge on news of drop in users

The company's stock tumbled 20 percent. The market appeared unwilling to wait and see. Twitter would like to do more work on using machine learning to serve active users more relevant content and help newcomers find what interests them so they st...

Juncker to Trump: US, EU are 'close partners, not enemies' Juncker to Trump: US, EU are 'close partners, not enemies'

He told reporters he entered Wednesday's meeting with the intention of reaching an agreement with Trump. Juncker came to Washington for a last-ditch bid to avoid US tariffs on cars. The U.S. and European Union will work together to reform the Wor...

European Union Agrees to Buy More US Soybeans European Union Agrees to Buy More US Soybeans

But the two world leaders agreed to strike a deal Wednesday and stop the brewing trade war. Jim Bair said the trade fight threatens some of the apple industry's most promising export markets. Trump's tariffs have been criticized by business lea...

Ramaphosa, Putin agree to revisit nuclear deal issue in future Ramaphosa, Putin agree to revisit nuclear deal issue in future

Chinese President Xi Jinping said China is taking major steps to firmly support trade liberalization and open its market while addressing the BRICS Business Forum here on Wednesday. "South Africa, and Africa more broadly, can benefit from increasin...

Facebook Stock Decline Is Largest One-Day Drop in U.S. History Facebook Stock Decline Is Largest One-Day Drop in U.S. History

But the sell-off points to growing concerns that Facebook will not emerge unscathed from the many controversies it faces. Facebook said that it brought in adjusted earnings of about $1.74 per share for the period, which was two cents ahead of...

Israel freed Turkish detainee at Trump's request, official says Israel freed Turkish detainee at Trump's request, official says

Her case angered Turkey . Earlier in the day, US Vice President Mike Pence reiterated Trump's remarks. "The rhetoric of threat against Turkey is unacceptable". He also condemned ISIS group violence toward religious minorities and what he described...

Saudi Arabia stops Red Sea oil flow after Houthi attack Saudi Arabia stops Red Sea oil flow after Houthi attack

U.S. President Donald Trump and Jean-Claude Juncker, president of the European Commission, struck a surprise agreement on Wednesday that alleviated the risk of an immediate trade war. Russian energy minister Alexander Novak on Friday said the market ...

Trump, Juncker tout deal pulling back from US-EU trade war Trump, Juncker tout deal pulling back from US-EU trade war

Trump's announcement stunned lawmakers who arrived at the White House ready to unload concerns over the administration's trade policies only to be quickly ushered into Rose Garden for what the chairman of the Senate Agriculture Committee called "qui...

Courageous millennial investors are piling into Facebook after its earnings plunge (FB) Courageous millennial investors are piling into Facebook after its earnings plunge (FB)

That is believed to be the largest one-day drop of any company on the American stock market. According to the research firm eMarketer, Facebook is expected to hold an 18 percent share of the $273.29 billion worldwide digital ad market, behind...

One lucky person wins Mega Millions lottery One lucky person wins Mega Millions lottery

The lucky numbers were 01-02-04-19-29. To take home the entire $522 million, the victor would have to take an initial installment of $7.8 million, followed by 29 annual payments that increase each year. The Mega Million jackpot won Tuesday night ...

UK Premier May downgrades Brexit department UK Premier May downgrades Brexit department

Brexit Secretary Dominic Raab said the proposed legislation would deliver a "smooth and orderly" Brexit. "So it reconciles, I hope, those ambitions but it also takes into account our experience of the negotiations to date, so it is a far advanced...

Oil gains as U.S. crude stocks fall to lowest since Feb Oil gains as U.S. crude stocks fall to lowest since Feb

A military conflict between the United States (U.S.) and Iran would threaten to shut the world's busiest seaway for oil exports and send crude prices to all-time highs, perhaps even to $200 a barrel, analysts said yesterday. Iranian officials des...

Facebook shares in free fall as weak outlook stuns market Facebook shares in free fall as weak outlook stuns market

Facebook's shares had gained more than 10 per cent over the last month and closed higher at US$217.50 on Wednesday, before the company reported earnings. Daily active users in both Europe and North America were down just slightly. It was the compa...

Republicans visiting White House surprised by European Union trade announcement Republicans visiting White House surprised by European Union trade announcement

He added that they would try to "resolve" steel and aluminium tariffs he imposed earlier this year and retaliatory duties the European Union levied in response. "If not, the EU Commission is preparing a rather long list of many American goods". Tha...

#BRICS: SA signs $14 billion trade agreements with China #BRICS: SA signs $14 billion trade agreements with China

Xi told the 10th summit of the Brics grouping of Brazil, Russia, India, China and South Africa in Johannesburg that unilateralism and protectionism were mounting, dealing a "severe blow" to multilateralism. The BRICS countries comprise more than 40...

Mega Millions jackpot now close to $500 million Mega Millions jackpot now close to $500 million

The Mega Millions jackpot continues to climb. This is the third jackpot this year of more than $400 million. Tickets must be purchased by 10 p.m. ET on Tuesday to be eligible for that night's 11 p.m. Since Mega Millions changed the jackpot rules ...

Google stock up 5 percent after pulverizing earnings expectations Google stock up 5 percent after pulverizing earnings expectations

Including the fine, Alphabet still booked net income of 3.2 billion, which equals earnings of $4.54 per share. Without the fine, it would have been nearly $8.3bn, the firm said . "I'm confident we can find a way to make sure Android is available...

Trump plans $121 billion emergency aid to farmers hit by retaliatory tariffs Trump plans $121 billion emergency aid to farmers hit by retaliatory tariffs

Much of the $12bn in aid will go to farmers of commodities such as soybeans , sorghum, and wheat. The planned mix of direct payments to farmers, commodity purchases for food-aid programs, and stepped up promotion of new export markets buoyed marke...

Mega Millions jackpot hits $512M for Tuesday night drawing Mega Millions jackpot hits $512M for Tuesday night drawing

But there are things you can do to boost the odds of becoming a multi-millionaire. Tickets cost $2 with an optional "Megaplier" that costs $1 more and multiplies every prize except the jackpot. Megaplier is a feature that allows a victor to multipl...

White House Admits Tariffs Are Hurting Farmers As It Plans Relief Program White House Admits Tariffs Are Hurting Farmers As It Plans Relief Program

The US Agriculture Department said the programme would provide emergency relief to offset an estimated $11bn in losses it expects farmers to incur as the trade disputes disrupt markets. Responding to farm groups and Republican criticism on Capitol ...

China says it won’t devalue currency to bolster exports China says it won’t devalue currency to bolster exports

The central bank fixed the midpoint 298 basis points lower to 6.7891 this morning, the weakest since July a year ago, data shows. Several U.S. bond auctions are scheduled this week. The rules, released Friday, are seen as looser than expected. Th...

Trump Warns Iranian President 'Never Threaten the US' Trump Warns Iranian President 'Never Threaten the US'

Iranian President Hassan Rouhani has cautioned US President Donald Trump about pursuing hostile policies against Tehran, saying 'war with Iran is the mother of all wars' , but did not rule out peace between the two countries. As the meme sprea...

Tesla reportedly asks for money back on payments to suppliers Tesla reportedly asks for money back on payments to suppliers

Tesla is spending about $1.47 billion a quarter as it ramps up manufacturing of the Model 3 sedan, a lower-priced auto that is key to Tesla's plans of becoming a major mass-market automaker. After the memo was leaked over the weekend, Musk tweeted: ...

When will North Korea denuclearise? Trump now says no ‘time limit’ When will North Korea denuclearise? Trump now says no ‘time limit’

Speaking to reporters during a meeting with members of Congress at the White House on Tuesday, Mr Trump said, "We have no time limit ". An editorial in the official state newspaper of the North Korean ruling party, Rodong Sinmun, argued that Sou...

Trump Is Ready To Go All In On Trade War With China Trump Is Ready To Go All In On Trade War With China

Mulvaney tells Fox News Channel that Trump "is not the first president, nor he is he the first Republican conservative or Democrat who is frustrated that every time things seem to getting a lot better (economically), the Fed tries to pump the brakes"...

GST Council has done well, can do more GST Council has done well, can do more

It is expected that the council would decide on revision of tax rates on vending machines and lithium ion batteries among others. Modi was heading high-powered committee comprising finance ministers of different states considering roll-out of GST i...

Ritz cracker products recalled amid fears of salmonella Ritz cracker products recalled amid fears of salmonella

Healthy people infected with salmonella often experience fever, diarrhea (which may be bloody), nausea, vomiting and abdominal pain. People who have purchased the items should look for "best when used by" dates for January and February. Salmonella ...

Trump threatens tariffs on all $505 bln of Chinese imports

Trump's comments come amid a multitude of trade threats between major economies around the globe and after his initial tariffs on Chinese goods sparked a major conflict. The Fed is led by chairman Jerome Powell , who was hand-picked by Trump in...

Microsoft breaks $100bn in revenue Microsoft breaks $100bn in revenue

Microsoft has shifted its focus in recent years from developing software for consumers to providing services for businesses, such as cloud computing and social networking for professionals. Raymond James is raising its fiscal 2019 and 2020 revenue ...

Amazon Workers Strike in Europe Amazon Workers Strike in Europe

Of course, Amazon probably wants this to be resolved as quickly as we do, and it seems the company has added a sort of captcha verification to access the website. This year's Prime Day may be remembered for the dogs, not the deals. The company di...

Trump threatens to slap tariffs on all $505bn of Chinese imports

The US$500 billion figure is about the value of Chinese goods imported into the USA past year. In a taped interview with the business channel CNBC , Trump said "I'm willing to go to 500", referring roughly to the $505.5 billion in goods imported p...

Japan Moves To Cease Oil Imports From Iran Amid US Warnings Japan Moves To Cease Oil Imports From Iran Amid US Warnings

Saudi Arabia's pledge to keep its crude production steady from June to July follows an agreement last month between Opec and its partners including Russian Federation to boost production by 1 million barrels a day. and China, we'll continue to h...

Brexit: Back me or we hold an election, PM told rebels Brexit: Back me or we hold an election, PM told rebels

Labour might choose to support any rebel amendments that fit with their own Brexit policy, if there's a chance of defeating the government. However, he said it's "not too late to save Brexit" and urged Mrs May to change tack and negotiate a better...

Google hit with record-breaking $5-billion EU fine Google hit with record-breaking $5-billion EU fine

Business review site Yelp has complained about Google's anti-competitive business models, and its polic head, Luther Lowe, described Ms Vestager's decision as an "important step in restoring competition, innovation and consumer welfare in the dig...

British caver Vern Unsworth considers suing Elon Musk over paedophile slur British caver Vern Unsworth considers suing Elon Musk over paedophile slur

It's unclear what provoked the outburst, but earlier this month Unsworth spoke critically of Musk's miniature submarine design in an interview with CNN . To our knowledge, he has also not stuck the submarine where it hurts. A lawyer who spoke to...

IN CASE YOU MISSED IT