Markets
Explained: What is the fallout of a reduced GDP growth rate
This is the slowest GDP growth rate in five years, due to poor performance in agricultural and manufacturing sectors. Spending during the financial year was Rs 23.1 trillion, against the revised target of Rs 24.1 trillion. The slowdown and the low GDP figures do not come as a surprise, as the finance ministry had itself said so in its monthly report for March. The GDP had expanded by 7.1 perce... [Full Article...]
Uber posts $1 billion loss in Q1 as revenues grow
During a conference call after publication of the results, Uber boss Dara Khosrowshahi said the company's disappointing start as a public business was just a step on "the long journey of making Uber a platform for the movement of people and transport of commerce around the world at a massive scale". [Full Article...]
Tesla’s Chinese-Made Model 3 Gets $47,000 Starting Price
While it was expected that the made-in-China version of the Standard Range Plus (SRP) vehicle would be cheaper than its USA version, it had been unclear by how much. Tesla now ships all its cars from the US, making them ineligible for Chinese government subsidies, and subjecting them to import tariffs. Keeping prices in check will also help Tesla fend off competition from a swathe of dome... [Full Article...]
China suffering from trade conflict, says Trump
We had a deal and they broke the deal. The statement comes after a few days ago the US President noted that a trade agreement with China was unlikely to come in the near future, despite months of negotiations. China is reportedly putting purchases of US soybeans on hold amid the growing trade war with the USA, according to a report from Bloomberg News . Before the tariffs, China was the lar... [Full Article...]
Round 5 Liu Xin: Complete removal of tariffs is 'wonderful' but 'complicated'
Touted as a "debate" ahead of the live broadcast, the exchange between Fox Business News channel's Trish Regan and China Global Television Network's Liu Xin , was termed as a "harmonious" interview by Chinese viewers. China's internet is heavily censored and many major foreign media sites are blocked, but many people in China appeared to have followed the debate on state broadcaster CCTV's live... [Full Article...]
Trump hitting Mexico with 5% tariff in response to migrants
The White House said Trump would be using the International Emergency Economic Powers Act to implement the tariff. Trump is also reportedly preparing to threaten Mexico with tariffs if they do not better manage the thousands of migrants traveling across its borders. [Full Article...]
Chinese yuan weakens to 6.8973 against USD Tuesday
Since the escalation of trade spat between US and China earlier this month, Chinese Yuan had lost more than 2.5 percent, while a technical resistance level of 7.00 seemed to be not far away amid a rotting US-China trade conflict. Wang Zhijun , vice minister of the Ministry of Industry and Information Technology , told Xinhua News Agency that the recent USA hikes on tariffs on $200 billion w... [Full Article...]
Sprint lights up its 5G network in four markets
Sprint 5G covers approximately 150 square miles and 565,000 people from downtown to Dunwoody! Sprint's initial 5G network in Kansas City covers about 225 square miles and serves 625,000 people, mostly from downtown Kansas City into Johnson County. [Full Article...]