Markets
Reliance Targets 500 Mn Jio Users Under Five-Year Plan For IPO
More features for JioFiber users include free voice calls to anyone in the country. Another highlight for Jio Fiber is that the service will come bundled with subscriptions to most leading premium OTT (over-the-top) applications, which we predict will include Hotstar Premium and possibly Netflix. [Full Article...]
Trump Administration Delays Tariffs on Some Chinese Goods, Drops Others
Other products whose tariffs will be delayed until December 15 include "computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing", the USTR said in a statement. The dispute between the world's two biggest economies has rattled financial markets for more than a year and clouded the global economy. U.S. President Donald Trump on Tuesday cited Ch... [Full Article...]
Dow Falls 391 Points Amid US-China Trade Woes, Hong Kong Protests
The flight from risk sent gold prices up 1%, hovering at a more than six-year high. The Bloomberg Dollar Spot Index climbed 0.1%.The onshore yuan decreased 0.1%.The euro dipped 0.2% to $1.1191.The Hong Kong dollar advanced less than 0.05% to 7.846 per US dollar.The British pound declined 0.1% to $1.2061. [Full Article...]
US delays tariffs on some Chinese goods, drops others | AP business
The Office of the U.S. Trade Representative says the rest of the tariffs on Chinese imports scheduled to kick in on September 1 will continue. Those items will be subjected to the tariffs starting December 15. Financial markets have fully priced in a single quarter-point move at the US central bank's September meeting and are still giving good odds on two more moves after that this year. [Full Article...]
Infrastructure Australia forecasts dystopian "Big Australia"
The most visible example of the impact of poor infrastructure is the increasingly congested roads and crowded public transport in our biggest cities, the 2019 Australian Infrastructure Audit has found. Infrastructure Australia's policy and research director Peter Colacino put much of the change down to the effect of the large "millennial" generation, which will make up three-quarters of the workfo... [Full Article...]
Bishop International Airport announces new Sarasota, Fla., flights
The new seasonal route will operate twice weekly. "We are thrilled to add the sixth dot to our route map with Allegiant", said Mike Daigle, South Bend International Airport CEO and executive director. A new route to Florida is coming to MidAmerica Airport this fall. With the additional two flights each week, Allegiant will fly to five cities from Flint. [Full Article...]
Automobile sales slump 18.7% in July; sharpest decline in nearly 19 yrs
Commercial vehicles sales fell 25.7% to 56,866 units, SIAM said. But the economic downturn that the industry is facing has bigger implications than just falling sales numbers. The decline in sales has led to massive job loss in India's auto sector, and many companies have shut down their factories. "We are now banking upon the festive season, a largely good monsoon, BS6 pre-buying and the reviva... [Full Article...]
Singapore slashes 2019 GDP growth forecast after sharp Q2 contraction
The government said it expected growth of 0.0-1.0 percent this year, sharply down from the 1.5-2.5 percent previously estimated, marking the second downward revision this year. Singapore, often seen as a bellwether for global growth, has been hit hard by the Sino-U.S. trade war which has disrupted world supply chains in a blow to business investment and corporate profits. [Full Article...]