Markets
Trump hits China with fresh 10% tariffs on remaining goods
President Trump unexpectedly announced on Thursday that he will impose new tariffs on $300 billion worth of Chinese imports, effectively taxing every product that Americans buy from China. In June, the USA raised tariffs on $250 billion worth of Chinese goods to 25 percent, with China retaliating by targeting 5,000 US-made products worth $60 billion. [Full Article...]
Burger King Officially Launching The Impossible Whopper Nationwide On August 8, 2019
Walk-ins at the restaurants increased by 17 percent, Burger King said in June. "Since we first launched our market tests in St. Louis in April, and later in six other markets across the country, we've heard great feedback and know the Impossible™ WHOPPER® appeals to both current guests who are already big fans of the WHOPPER® sandwich, as well as new guests who are excited about this new option"... [Full Article...]
Impossible Burger could be sold in stores after FDA approves coloring
The company recently signed a deal with the meat processing company OSI group to increase the availability of its products, as it is struggling to meet demand . Impossible Foods said in a press release that now it has been given the go-ahead, it will launch its flagship grocery product in stores next month. [Full Article...]
United States stocks fall after Trump rips China on trade
The S&P 500 index was down 7.79 points at 3,013.18, while the Nasdaq composite was down 19.71 points at 8,273.61. US stocks were set to open just off record highs on Monday, pausing at the start of a week likely to be dominated by Wednesday's statement by the Federal Reserve and a round of tech company earnings that will again test the impact of trade concerns on global growth. [Full Article...]
Softbank, ride hailing app Grab investing $2B in Indonesia | AP business
Son also said SoftBank would further invest in Indonesia's biggest online marketplace Tokopedia, and explore areas including renewable energy and electric vehicles in Southeast Asia's biggest economy. We look forward to working with Grab, the fifth unicorn in Indonesia, and SoftBank to empower SMEs, accelerate tourism, and improving health services". [Full Article...]
Crude oil production fell 26000 bpd in May to 12.108 million bpd
Brent crude, the global benchmark, fell $1.06, or 1.6%, to $63.99 a barrel by 0037 GMT, while United States crude was down 93 cents, or 1.6%, at $57.65 a barrel, having fallen more than $1 earlier. While the Fed cut rates for the first time in a decade, Chairman Jerome Powell said it wasn't the start of an extended cycle of monetary-policy easing to protect the economy. [Full Article...]
Core sector growth slows to 0.2% in June
The core sector index carries 40.27 per cent weightage of the items included in the index of industrial production (IIP). This is symptomatic of stagnation setting in the domestic industry, said economists. The Natural Gas production declined by 2.1 percent in June, 2019 over June, 2018. Steel output growth was slashed by more than half in June, with growth rate standing at 6.9%, down from 15.3%... [Full Article...]
Canada's privacy commissioner investigating Capital One breach
On Monday, July 29th, authorities arrested Thompson, who then appeared in U.S. District Court in Seattle . Capital One said the breached information includes 140,000 Social Security numbers, 1 million Canadian Social Insurance numbers and 80,000 bank account numbers, in addition to an undisclosed number of people's names, addresses, credit scores, credit limits, balances, and other information.... [Full Article...]