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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.
  • 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.
  • McDonald's offering chance to win McGold Card, free food for life

    McDonald's offering chance to win McGold Card, free food for life

    Finance

    Should you win, not only will you receive free McNuggets, McGriddles, McFlurries, and the rest of the McDonald's menu for life, but the victor will also be gifted a 24-karat-gold-plated phone case (for Android or iPhone) with their name etched on it marking their exclusive membership to the McGold Card owners club.
  • Turkeys Erdogan says lira weakness a plot, cannot be explained by logic

    Turkeys Erdogan says lira weakness a plot, cannot be explained by logic

    Finance

    On Friday, US President Donald Trump announced to double steel and aluminum tariffs on Turkey, saying relations between Washington and Ankara "not good" as tensions mount between the two countries. According to Jacob Funk Kirkegaard, a senior fellow at the Peterson Institute for International Economics, "The administration seems to be willing to accept a scenario in which Turkey - as the economic crisis escalates and the nationalist rhetoric we've heard come out of Erdogan escalates ...
  • Wall Street flat as trade tensions mute earnings optimism

    Wall Street flat as trade tensions mute earnings optimism

    Finance

    The Dow Jones Industrial Average decreased 74.52 points, or 0.29 percent, to 25,509.23. The Dow Jones Industrial Average index slid 245 points, or nearly two percent, during early trading hours on Wall Street. The Nasdaq gained 0.3 per cent for the week after strong gains in some technology shares. The number of Tesla shares sold short rebounded and are now higher than before Chief Executive Elon Musk on Tuesday proposed taking the electric auto maker private, according to data from ...
  • Turkey currency crashes as Trump doubles metals tariffs

    Turkey currency crashes as Trump doubles metals tariffs

    Finance

    Turkish President Recep Tayyip Erdogan has lashed out against a shadowy worldwide "interest rate lobby" which he suggested was "campaigning" to harm Turkey's economy, after the lira fell more than 14 percent overnight. The US on August 1 imposed financial sanctions on its North Atlantic Treaty Organisation ally, blocking Turkey's ministers of justice and interior from doing business with Americans.
  • Iranian president warns North Korea: Don't trust Trump

    Iranian president warns North Korea: Don't trust Trump

    Finance

    In a tweet , President Donald Trump called the measures "the most biting sanctions ever imposed", saying they would prevent anyone who did business with Iran from doing business with the U.S. European leaders have expressed deep regret about the U.S. actions. Commission deputy chief spokesperson Mina Andreeva said: "They are free to choose whether to start working, continue working or cease business operations in Iran ...
  • Elon Musk isn't kidding, Tesla board confirms TSLA could go private

    Elon Musk isn't kidding, Tesla board confirms TSLA could go private

    Finance

    The report came the day after Musk said he was considering taking Tesla private and that funding had been secured, but did not offer any specifics about the unprecedented move. The company declined to comment beyond pointing to an all-employee email sent Tuesday by Musk. "Finally, this has nothing to do with accumulating control for myself".
  • NASCAR CEO arrested for DWI, oxycodone possession

    NASCAR CEO arrested for DWI, oxycodone possession

    Finance

    Upon the traffic stop, according to the release, police determined that France was operating the vehicle in an intoxicated condition. Additionally, police say, France was also allegedly found to be in possession of oxycodone pills. 20, 2016, in Homestead, Fla. "The France family is locked and loaded in its dedication to NASCAR ", France told SiriusXM NASCAR Radio. NASCAR was founded by France's grandfather, Bill France Sr., in 1948.
  • Iran facing worst economic CRISIS country has ever seen after Trump sanctions

    Iran facing worst economic CRISIS country has ever seen after Trump sanctions

    Finance

    He added: 'Our policy is based on a clear-eyed assessment of the Iranian dictatorship, its sponsorship of terrorism, and its continuing aggression in the Middle East and all around the world'. After months of fierce rhetoric, Trump surprised observers last week when he offered to meet with Rouhani without preconditions. Iran's economy is tanking for a number of reasons .
  • Apple is first public company worth $1 trillion

    Apple is first public company worth $1 trillion

    Finance

    Apple saw excellent numbers during its fiscal third quarter of the year, revealing strong global sales and demand for the pricey iPhone X , which helped tip revenues to a new record despite a dip in device sales. Apple has sold more than a billion iPhones. The first company to hit $100 billion in market capitalization was only able to do so 23 years ago.
  • Apple becomes 1st private company worth $1 trillion

    Apple becomes 1st private company worth $1 trillion

    Finance

    In the more than four decades since Steve Jobs founded the company in a California garage, Apple has become almost synonymous with personal computing and mobile devices. The Apple Watch has been the closest thing that the company has had to creating another mass-market sensation under Cook's leadership, but that device hasn't come close to breaking into the cultural consciousness like the iPhone or the iPad.
  • Harley Davidson set to ride in Royal Enfield territory

    Harley Davidson set to ride in Royal Enfield territory

    Finance

    These motorcycles will span across three different product spaces and four displacements, including an all-new adventure tourer, called the Harley-Davidson Pan America 1250, a 1250 Custom and smaller 975cc Streetfighter , all of which are slated to launch in 2020.