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Finance

He stressed that the EU needed to protect its single market from Britain piggybacking on Northern Ireland's special status and to provide a "legally operational" solution - meaning he will resist a political fudge in language or a deal that would push resolution of the Irish problem until after Brexit in March and into negotiations on a future EU-UK trade agreement.
  • Obama Slams Donald Trump Publicly For First Time

    Obama Slams Donald Trump Publicly For First Time

    Finance

    The former president is expected to be a fixture on the campaign trail this fall, notes CBS News . He said people have asked him what he's going to do for the November election. Trump wasn't quick to point fingers back or take a swipe at the former president. Obama's remarks will be on "the state of our democracy", his communications director Katie Hill said in a statement.
  • Two friends pull off epic prank at a Texas McDonald's

    Finance

    Amazingly, they arrived in the restaurant, put the poster up and left without any real McDonald's staff member coming to question them. So when they saw a bare wall, they had an idea that the two of them, both Filipino-American, were the people to fill it...
  • Chinese billionaire arrested in U.S. over sexual misconduct

    Chinese billionaire arrested in U.S. over sexual misconduct

    Finance

    Jail records did not provide details on Liu's arrest or the alleged incident, and police said they could comment because it's an active investigation. "Such allegations about Liu Qiangdong sexually assaulting female students are inaccurate, and the CEO will continue his trip in the U.S. as planned", said the statement, adding JD.com will take legal action against "false reports and rumor mongering".
  • Trump, NAFTA and Global Trade | US & Canada

    Trump, NAFTA and Global Trade | US & Canada

    Finance

    On a separate footing, the U.S. is now considering imposing new tariffs on $200 billion of imports from China on 7 September, following the conclusion of its public hearings with the American companies on China's theft of intellectual property and forced transfer of technology.
  • Buhari Participates In China-Africa Cooperation Forum

    Buhari Participates In China-Africa Cooperation Forum

    Finance

    China has pledged a $60 billion fund to bolster industry, counter hunger, and enhance security in Africa, a continent that has been chronically plagued by piracy and terrorism. "Africa is not a zero-sum game", Kagame said. "China dreams of national renewal and Africa of unity and invigoration and a day will come when both aspirations will be achieved", said Xi.
  • Coca-Cola to acquire Costa Coffee for €4.3bn

    Coca-Cola to acquire Costa Coffee for €4.3bn

    Finance

    Costa Coffee in India is operated by rival PepsiCo's biggest and long-standing, exclusive bottling partner RJ Corp, which operates about 70 outlets. SodaStream makes machines that carbonate home tap water. More retail stores could help people develop a taste for coffee in those regions, Quincey said.
  • Theresa May arrives Nigeria, meets Buhari in Aso Rock

    Theresa May arrives Nigeria, meets Buhari in Aso Rock

    Finance

    Brussels is willing to offer Britain an unprecedented trade deal , the likes of which it has not agreed with any other country, the EU's chief Brexit negotiator said yesterday. The school children symbolised, she said later, the dynamism and creativity of the continent's growing and youthful population. "Our integrated global economy means good news for British and African people".
  • Mexico trade agreement sends markets to record highs

    Mexico trade agreement sends markets to record highs

    Finance

    Trump threatened he still could put tariffs on Canadian-made cars if Canada did not join its neighbors and warned he expected concessions on Canada's dairy protections. Although much could change in negotiating the final language and Canada's participation, these compromises would represent significant victories for Trump.
  • UK to start work on satellite system to rival EUs Galileo

    UK to start work on satellite system to rival EUs Galileo

    Finance

    Raab will say that in some cases Britain will take unilateral action to maintain continuity in the event of a no-deal Brexit . A total of 25 notices were released yesterday. "This would allow the United Kingdom firm to offer new services after exit through its EEA subsidiary, and in some cases existing contracts could be transferred to the new entity".
  • National Enquirer boss granted immunity in Cohen probe

    National Enquirer boss granted immunity in Cohen probe

    Finance

    The state tax department also subpoenaed Cohen earlier this week as part of a probe pertaining to the Trump Foundation, CNN reported . In May, he suggested he'd "use the powers granted to the Presidency and get involved" in an effort by congressional Republicans to get documents related to the Russian Federation probe, and earlier this month he said he "may have to get involved" in an attempt by the conservative group Judicial Watch to obtain former deputy Federal Bureau of ...
  • Donald Trump's finance chief Allen Weisselberg given immunity in Cohen probe

    Finance

    The Manhattan District Attorney's office has opened an investigation and is considering pursuing criminal charges against the Trump Organization , a person familiar with the matter confirmed to CBS News' Pat Milton on Friday. In a separate development, the NY attorney general is moving to open a state criminal tax investigation into Cohen. He said in court that Trump directed him to arrange the payments.
  • Trump 'Not Thrilled' with Fed Chairman Powell Over Rate Hikes

    Trump 'Not Thrilled' with Fed Chairman Powell Over Rate Hikes

    Finance

    The greenback has been on the ascent in recent months as USA borrowing costs have gone up and the economy improves but it stumbled after Trump's latest criticism of the central bank. Kohn said he didn't think Powell or the Fed would change their course because of Trump's remarks. The central bank is created to be independent from political interference.
  • Trump Won’t Acknowledge the Independence of the Fed

    Finance

    Almost eight in 10 economists believe the Fed's interest rate policies are "about right", according to a survey released Monday by the National Association for Business Economics. Kohn said he didn't think Powell or the Fed would change their course because of Trump's remarks. After leaving its policy interest rates at historic lows for about six years after the 2008 global financial crisis, the Fed began slowly raising rates again in late 2015.
  • London Gatwick passengers need to check whiteboards after IT glitch

    London Gatwick passengers need to check whiteboards after IT glitch

    Finance

    Both the north and south terminals at Gatwick Airport , London , were affected by an IT failure that led to its screens not working, the airport tweeted around 8:30 a.m . "We are expecting to resolve the issue soon and apologise for the inconvenience". London's Gatwick has resorted to using marking pens and whiteboards to post flight information after a technical failure at the United Kingdom airport caused electronic message boards to malfunction.
  • China sending trade envoy to Washington for talks

    China sending trade envoy to Washington for talks

    Finance

    The Chinese government has filed a pair of World Trade Organization cases challenging US safeguard tariffs on solar panels as well as a series of state-level renewable energy rules that allegedly discriminate against foreign companies, according to WTO documents published Thursday.
  • China: Trade talks with the USA are back on

    China: Trade talks with the USA are back on

    Finance

    Those tariffs will be the latest action in an ongoing tit-for-tat exchange of duties between the two countries, prompting concerns of an escalating trade war between the world's two largest economies. But the discussions failed to reduce tensions as the United States slapped tariffs on $34 billion worth of Chinese goods in early July, triggering an immediate dollar-for-dollar retaliation from Beijing .
  • Turkey hits back at USA with tariff hikes on key products

    Turkey hits back at USA with tariff hikes on key products

    Finance

    Last Friday, US President Donald Trump said he had authorized higher tariffs on aluminum and steel imports from Turkey. Turkey on Wednesday said it was hiking tariffs on imports of several key USA products in retaliation for American sanctions against Ankara, as a bitter dispute between the two allies that sent the Turkish lira into free-fall showed no sign of ending.
  • Turkish court rejects USA pastor Brunson's appeal for release

    Turkish court rejects USA pastor Brunson's appeal for release

    Finance

    Also on the military front, Turkey's purchase of Russia's S-400 missile defence system has irked the US and other alliance members in North Atlantic Treaty Organisation. According to International Monetary Fund statistics, the USA was the fourth largest source of imports to Turkey in 2017 with $12 billion of imports.
  • Firefighter killed battling California's Ranch Fire

    Firefighter killed battling California's Ranch Fire

    Finance

    When the fire started July 27, thousands of firefighters were hundreds of miles north battling a massive blaze that spread into the city of Redding, destroying more than 1,000 homes, in addition to a dozen other major blazes. Another massive blaze, the Carr Fire , has blackened about 207,000 acres and killed eight people in and around Shasta County, north of Sacramento near the OR state line.
  • Musk in talks with Saudi fund, others on Tesla buyout

    Musk in talks with Saudi fund, others on Tesla buyout

    Finance

    Tesla Inc Chief Executive Elon Musk on Monday tweeted that he would work with buyout firm Silver Lake and investment bank Goldman Sachs as financial advisers on a proposal to take private the electric vehicle maker. All those interested, including the Securities and Exchange Commission (SEC), wanted to know precisely what that means . Goldman Sachs has always been a key adviser to Tesla, but the apparent involvement of Silver Lake, best known as a private-equity firm specializing ...
  • U.S. tariff hike on Turkey fails to make economic sense

    U.S. tariff hike on Turkey fails to make economic sense

    Finance

    President Donald Trump announced tariff increases on Turkish metals as tensions between Turkey and the United States escalated. That turned into a rout on Friday, with the lira diving more than 18 percent at one point, the biggest one-day drop since Turkey's 2001 financial crisis.