Business

Business Canada says joblessness rose slightly in June to 6%
Author: 0 Canada says joblessness rose slightly in June to 6%

The Canadian dollar strengthened to a three-week high against its US counterpart on Friday as oil prices rose and data showing a stronger-than-expected rise in domestic jobs raised expectations for a Bank of Canada interest rate hike next week.

Business High-end speaker company Sonos is going public
Author: 0 High-end speaker company Sonos is going public

The company set a placeholder amount of US$100 million to indicate the size of the IPO. Bloomberg reported that Sonos is seeking a valuation of $2.5 billion to $3 billion. In other words, in order to remain competitive in this market, Sonos may find itself investing in improving sound-quality, in varied retail partnerships, and in music streaming service, voice assistant and connected home integrator partnerships.

Author: 0 United States job growth strong; unemployment rate rises to 4.0 percent

Economists have estimated that 195,000 jobs were added last month and that the unemployment rate remained at an 18-year low of 3.8 percent, according to data provider FactSet. However, fears of a trade war with other countries, especially China, have many anxious the economy could slow down or shrink in the months ahead. The labor force expanded by 601,000 jobs over the month, with an influx of new women and teen workers more than offsetting a dip in labor force participation among men, ...

Business Mark Zuckerberg Becomes World's Third Richest Person as Facebook Stock Soars
Author: 0 Mark Zuckerberg Becomes World's Third Richest Person as Facebook Stock Soars

It's the first time that the three wealthiest people on the ranking made their fortunes from technology. Mark Zuckerberg now trails behind Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates . Those shares are now worth more than $50 billion (about Rs. 3.44 lakh crores), according to data compiled by Bloomberg. Fears of tough new regulatory clampdowns on the social media site spooked investors earlier this year after it emerged that third parties had been allowed to ...

Author: 0 The rise in the USA unemployment rate isn’t bad news

The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, rose to 62.9 per cent last month from 62.7 per cent in May. "Contacts expressed concern about the possible adverse effects of tariffs and other proposed trade restrictions", the Fed said in minutes published Thursday.

Business Trump’s tweets added $10 to oil prices, Iran’s OPEC boss says
Author: 0 Trump’s tweets added $10 to oil prices, Iran’s OPEC boss says

Kazempour accused Trump of trying to ramp up tensions between Iran and its regional rival, Saudi Arabia. "Saudi lowered some of the prices for some of its products to Asia and to Europe and to the US". The United States has always been both a major producer and consumer of oil, which means that most presidents have favoured moderate oil prices .

Business Micron says not been served with preliminary injunction
Author: 0 Micron says not been served with preliminary injunction

It said the United States company's products infringed on three of its patents related to DDR4, SSDs, and graphic card memory. The Fuzhou City Court of China issued a preliminary injunction order of ban on the sale of Micron products in China.

Business China blames U.S. for ‘largest-scale trade war’ as tariffs kick in
Author: 0 China blames U.S. for ‘largest-scale trade war’ as tariffs kick in

Trump and his advisers argue the tariffs are necessary to pressure China into abandoning unfair practices such as stealing intellectual property and forcing American companies to hand over valuable technology. "Whether it's through trade war or other means, the end goal is to make China subservient to the United States, " said He Weiwen, vice president of the Center for China and Globalization, in Beijing.

Business U.S. job growth strong but unemployment rate rises to 4%
Author: 0 U.S. job growth strong but unemployment rate rises to 4%

Average hourly earnings are expected to have increased by 0.3% month-on-month and 2.8% compared to June 2017. Major U.S. stock indexes were mostly higher Friday after the jobs report was issued, keeping the market on track for a weekly gain after two weeks of losses.

Business Ottawa eager to restart NAFTA talks, even if Trump’s in no rush
Author: 0 Ottawa eager to restart NAFTA talks, even if Trump’s in no rush

The $16.6-billion in levies on American goods are in retaliation to United States tariffs on Canadian steel and aluminum and are on a number of every-day items you might pick up at the grocery store. You're going to have an election. On Monday, Prime Minister Justin Trudeau spoke with Lopez Obrador by phone. “Our priority has always been to conclude a mutually beneficial agreement as quickly as possible and that, I think, remains our goal, ” said the official, who was not authorized to ...

Business Saudi Arabia Won't Bring 2 Million Bpd Online
Author: 0 Saudi Arabia Won't Bring 2 Million Bpd Online

President Trump said in a tweet on Saturday that Saudi Arabia agreed to boost oil production by 2 million barrels per day (mb/d), a claim that surely came as news to the Saudis. sanctions on Iran has been amplified this week as Trump continues to target the group which he blames for rising prices. President Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on close US allies in an interview that aired on Sunday with a threat to sanction ...

Business MSP for paddy hiked by Rs. 200
Author: 0 MSP for paddy hiked by Rs. 200

The median hike this year works out to around 25 per cent compared with a 3-4 per cent in the last three years. Asked about the cost to the exchequer, Mr. In 2008-09 - also an election year - the UPA government had announced a 20.8% year-on-year hike in the MSP of paddy. "That is why we have taken this historic decision", Singh said, briefing reporters on the decision.

Business Trump moves to block China Mobile's US entry
Author: 0 Trump moves to block China Mobile's US entry

The Trump administration recommended to the Federal Communications Commission (FCC) on Monday that China Mobile not be allowed to enter the US telecommunications market. The FCC wasn't immediately available for comment outside of regular office hours. The company had 901.9 million mobile subscribers, 671.8 million of which are on its 4G network, as of May 31.

Business Woman devours 37 hot dogs to win Independence Day eating contest
Author: 0 Woman devours 37 hot dogs to win Independence Day eating contest

George Shea, the longtime host of the annual Brooklyn eat-off, quipped that Sudo was particular about the temperature and amount of water she uses while competing. Not fireworks or a Taylor Swift party (RIP), but a world record at a hot dog eating contest. Chestnut's previous record was 72. She first got into the world of competitive eating after her daughters entered her in a local eating contest.

Business Domino Effect: How will a trade war influence the rest of Asia?
Author: 0 Domino Effect: How will a trade war influence the rest of Asia?

U.S. synth company Moog has warned that a 25% tariff on the import of Chinese goods brought in by President Trump could result in layoffs and the end of its instruments being made in the US. The European Commission said in a letter that they would hit $300 billion of USA goods with tariffs if needed. Trump has long expressed his dissatisfaction with a number of trade deals with overseas trading partners.

Business China's HNA Chairman Wang dies after fall during trip to France
Author: 0 China's HNA Chairman Wang dies after fall during trip to France

Also in attendance were executives at Glencore Plc, which hours later announced the US$775 million sale of a majority stake in its oil storage and logistics business to HNA. Mr Wang held 15 per cent of the group's shares. "Wang's passing will mark the end of an era of aggressive expansion by HNA", said Corrine Png, chief executive officer at Crucial Perspective Pte., a Singapore-based research firm focused on transportation.

Business Hyundai Denies FCA Takeover Rumor
Author: 0 Hyundai Denies FCA Takeover Rumor

On top of all that, the United States and South Korea are unified by a free-trade agreement, which would only ease the transfer of models between both nations. Yet despite the synergies that could develop via a Hyundai-FCA merger, Senior Group Manager of Hyundai Corporate and Marketing Public Relations, Michael Stewart tells us, "That rumor is totally groundless".

Business China warns its citizens: Travel to US carries high-cost risks
Author: 0 China warns its citizens: Travel to US carries high-cost risks

The official China Daily said the United States was intentionally trying to prevent China from developing to keep it from challenging the former's role in the global economic order. A report by New York-based Rhodium Group, a research consultancy, in April showed that Chinese restrictions on foreign investment are higher in every single sector save real estate, compared to the European Union, while numerous big Chinese takeovers in the bloc would not have been possible for EU companies in China.

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