Business

Business John Schnatter sues Papa John's
Author: 0 John Schnatter sues Papa John's

Papa John's board voted to adopt a "poison pill" aimed at preventing founder John Schnatter from getting a controlling stake in the company. "I just don't think he's the right fit for Papa John's at this time", Schnatter said, adding that he has informed the board of his concerns.

Business SEC rejects Bitcoin ETF proposal, BTC goes below $8,000
Author: 0 SEC rejects Bitcoin ETF proposal, BTC goes below $8,000

As first reported by Bloomberg , the closed-door meeting in Chicago was attended by representatives from about half a dozen companies, including cryptocurrency exchange Gemini - whose co-founders, Cameron and Tyler Winklevoss , were behind the latest failed bid to create a bitcoin ETF .

Business Trump and top European leader agree to work toward zero tariffs
Author: 0 Trump and top European leader agree to work toward zero tariffs

Trump called the EU a "foe." "This is why we agreed today, first of all, to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods", the statement read . An EU official said there was significant pressure from Trump administration officials to increase EU soybean purchases as part of any trade deal. The US will not impose tariffs on European Union cars and might take back ones on steel and aluminium, but the European Union will buy ...

Business Officer Helps Homeless Man Shave, So He Can Apply For Job
Author: 0 Officer Helps Homeless Man Shave, So He Can Apply For Job

Officer Carlson talks about how he met Phil, a local homeless man, and how he helped Phil with shaving his beard so he. Phil asked Officer Carlson if he knew anything about fixing a razor and if he could look at it. "It happens all the time". The heart-warming moment was captured on video by a passerby who gave it to the Tallahassee Police Department, which posted it on its Facebook page on Sunday evening .

Business Facebook's US$119 billion one-day loss makes United States history
Author: 0 Facebook's US$119 billion one-day loss makes United States history

Facebook just had the biggest wipeout in stock market history. Facebook faced a day of reckoning as its shares plunged today in the company's worst trading day since going public in 2012. Facebook had 2.23 billion monthly users as of June 30, up 11 percent from a year earlier. "Bears win this quarter. but not the war", said Brent Thill, an analyst with Jefferies.

Business European Union divided over Trump trade deal
Author: 0 European Union divided over Trump trade deal

The United States has been looking to support farmers hurt by the tariffs imposed on US products and this week announced a $ 12 billion support package. The U.S. and European allies have been at odds over Trump's tariffs on steel imports and are meeting as the trade dispute threatens to spread to automobile production.

Business Facebook Plans to Open Office in China
Author: 0 Facebook Plans to Open Office in China

According to a report in Mashable, the subsidiary is entirely owned by Facebook, meaning it did not have to partner with popular Chinese social media sites Weibo or WeChat to get approval. In 2017, Facebook quietly paved a way into China by launching a photo and video sharing app titled "Colorful Balloons". But right now all it can do is sell ads to Chinese businesses who want to advertise outside of the country.

Business Trump pushes for speedy NAFTA renegotiation in Mexico letter
Author: 0 Trump pushes for speedy NAFTA renegotiation in Mexico letter

International Trade Commission concluded the Canadian products don't significantly harm American manufacturers. Ottawa is requesting a NAFTA review of USA tariffs targeting Canada's solar power industry under the so-called Chapter 20 dispute settlement provisions of the free trade agreement between Canada, the United States and Mexico, the federal government announced Monday.

Business Oil rises on U.S.-EU trade talks, Red Sea shipping suspension
Author: 0 Oil rises on U.S.-EU trade talks, Red Sea shipping suspension

Saudi Energy Minister Khalid al-Falih said in a statement sent by his ministry that the Houthis had attacked two Saudi Very Large Crude Carriers in the Red Sea on Wednesday morning, one of which sustained minimal damage. Yemeni army also detonated naval mines planted by the Houthis on the west coast off Hajjah province. But the Arab Coalition supporting the legitimate government of Yemen President Abed Rabbo Mansour Hadi said crude oil tankers were attacked.

Business Trump, Juncker announce deal pulling back from US-EU trade war
Author: 0 Trump, Juncker announce deal pulling back from US-EU trade war

With Juncker by his side, Trump told reporters: "We agreed today, first of all, to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods". Agriculture has been one of the hardest hit industries following Trump's tariffs. Meanwhile, both Washington and Brussels will "hold off on other tariffs" while the talks are under way, Juncker said.

Business Apple will exclusively use Intel modems in 2018 iPhones
Author: 0 Apple will exclusively use Intel modems in 2018 iPhones

According to CNBC , Qualcomm's financial head George Davis spoke about Apple's plan and this very well could be involving the upcoming iPhone series that is getting prepped on getting unveiled later this month. It's been hard enough for Apple to produce a sufficient amount of units at the beginning, thanks to the complicated TrueDepth camera, so it didn't want to add yet another hue complexity to the production process to manage.

Business PM's Bureaucrats Officially Take Charge of Brexit Talks, Brexit Department Snubbed
Author: 0 PM's Bureaucrats Officially Take Charge of Brexit Talks, Brexit Department Snubbed

We want to get that good deal with the European Union, but we have huge benefits here in the United Kingdom, with our entrepreneurship, our innovation, our skillset, our workforces. Despite correcting himself to say the "Irish Sea", Mr Raab failed to give a similar guarantee that there would be no "regulatory border" between Northern Ireland and the rest of the United Kingdom after Brexit.

Business Facebook shares slump as user growth slows
Author: 0 Facebook shares slump as user growth slows

The earnings report follows a tumultuous quarter for Facebook , which has faced questions from Congress and others about handling of misinformation on its site and user privacy. Wehner said quarterly revenue growth would be closer to 30 percent the rest of the year. Facebook and Instagram ad spending through 4C rose 48 percent year over year, according to Goldman.

Business Trump says China trade talks go ‘really well’. Officials ask: ‘What talks?’
Author: 0 Trump says China trade talks go ‘really well’. Officials ask: ‘What talks?’

Fruit, nuts, rice, beef, pork and dairy products bought from farmers will be redistributed to federal nutrition assistance programs, according to Politico . He added, "This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again". He says he'd prefer there be no tariffs or barriers at all.

Author: 0 Former Ferrari chairman Sergio Marchionne dies aged 66

Appointed CEO of Fiat in 2004, Marchionne became known as a no-nonsense workaholic, pushing his subordinates hard. Under Marchionne - who replaced Marco Mattiacci with Maurizio Arrivabene as team principal - Ferrari has also seen a strong increase in performance since 2014, winning multiple races and challenging for the championship in the current campaign.

Business Trump Announces $12B Bailout For Farmers
Author: 0 Trump Announces $12B Bailout For Farmers

In Alaska, the Anchorage Daily News said China's retaliatory tariffs on US exports, and the Trump administration's new tariffs on Chinese seafood, would cost American consumers and Alaska fisheries hundreds of millions of dollars. Trump has accused the European Union of unfair trade practices and has threatened to raise tariffs on cars imported from the bloc. The USDA said it planned to roll out some of those details around Labor Day and the program would begin to make payouts ...

Business Farmers remain critical of tariffs as USA offers billions in aid
Author: 0 Farmers remain critical of tariffs as USA offers billions in aid

Mark Jackson, who farms with his son and his brother on 2,000 acres in southeast Iowa near Oskaloosa was supportive of Mr. Trump's efforts to realign global trade to an improved balance for the U.S. "Declaring a trade war on the world, instead of the truly bad actors, leaves a lot of collateral damage", Mr Durbin added . Kasich says that will only compound tariff damage.

Business $522M Mega Millions jackpot winner bought ticket in San Jose
Author: 0 $522M Mega Millions jackpot winner bought ticket in San Jose

There are six that are worth $1 million and two of those were sold in New Jersey. America has a new mega millionaire Wednesday morning, but, but sadly, the winning Mega Millions ticket was sold thousands of miles away. For the next drawing on Friday, July 27, the jackpot resets to its starting value of $40 million ($23.6 million cash). If you've recently purchased a mega millions ticket there in the past few days, you may be the lucky victor of $522 million.

Author: 0 Sergio Marchionne, Who Saved Fiat and Chrysler, Has Died

Sergio Marchionne, man and friend, is gone", it read. In 2009, he organized a merger with Chrysler in the US and formed Fiat Chrysler Automobiles, becoming CEO of the new company. "Our entire team at Renault-Nissan-Mitsubishi were saddened to learn of the death of Sergio Marchionne". Under the best of circumstances, Marchionne's pending departure presented Fiat Chrysler with a major void to fill.

Author: 0 Trump and Iran Trade Barbs Over Twitter

While US ties with Iran and North Korea are different on several fronts, the words used by Trump to denigrate Tehran are similar in tone to those he directed a little more than a year ago at North Korean leader Kim Jong Un. Trump had claimed that Iran was continuing its pursuit of nuclear weapons, contradicting 11 certifications of compliance by the International Atomic Energy Agency.

Business Ryanair confirm MORE cancellations with up to 50,000 passengers affected
Author: 0 Ryanair confirm MORE cancellations with up to 50,000 passengers affected

The airline has confirmed it will result in up to 24 flights between Ireland and the United Kingdom not going ahead. Pilots want the roll-out of a "seniority list" to determine who gets holidays, base transfers and promotions. Next week's strike is nevertheless maintained, because no progress was made at the meeting, Elsen added. But it failed to reach agreement on the terms of reference for such a group, it said.

Business President Trump on EU Trade Negotiations: Better Late Than Never
Author: 0 President Trump on EU Trade Negotiations: Better Late Than Never

Even Iowa Republican Sen. He's felt the impact of the trade wars directly as milk prices plummeted again this year following a long downward slide. They can also cut off US producers, including farmers, from foreign marketplaces that have been predictable annual sources of income in the past.

Business Mega Millions jackpot is up to $512 million
Author: 0 Mega Millions jackpot is up to $512 million

Ken Brown from Reeders hopes he has a good combination of numbers in his hand. As of Tuesday morning, the jackpot was estimated at $522 million and is expected to grow even more before the drawing Tuesday night. The players don't usually find out they were scammed until they try to claim the cash themselves. All it takes to win the pot is $2 for a ticket and having the odds of 1 in 302.6 million in your favor.

Business US announces billions to help farmers hurt by tariffs
Author: 0 US announces billions to help farmers hurt by tariffs

Sen. Rand Paul, R-Ky., blasted the plan on Twitter . President Donald Trump's administration is reportedly planning to provide $ 12 billion in aid to farmers struggling as the result of his trade war, and many of his fellow Republicans are furious.

Author: 0 Why Trump’s tariffs could actually help farmers

Trump said on Friday that he would be willing to slap tariffs on every last import from China. The food purchased from farmers would include some types of fruits, nuts, rice, legumes, dairy products, beef and pork, officials said. Earlier this month, 25 percent tariffs on $34 billion of Chinese imports of machinery and electronics went into effect, prompting Beijing to respond with tit-for-tat tariffs on American exports of soybeans and other products.

Business Wont devalue yuan to boost its exports amid trade war, says China
Author: 0 Wont devalue yuan to boost its exports amid trade war, says China

May said China's gross domestic product growth forecast for 2018 was revised up to 6.4 percent from 6.3 percent despite increased trade headwinds. The Bank of Japan, facing stubbornly low inflation, is in unusually active discussions before this month's policy decision, with changes to its interest-rate targets and stock-buying techniques on the table, people familiar with the central bank's thinking told Reuters .

Business Satellite Images Show North Korea Dismantling Ballistic Missile Launch Site
Author: 0 Satellite Images Show North Korea Dismantling Ballistic Missile Launch Site

Kim Jong-Un and Donald Trump met in Singapore in June. Satellite images indicate that North Korea has begun to dismantle its primary rocket launch site, but Gen. "A Rocket has not been launched by North Korea in 9 months". Adam Mount, a senior defence analyst at the Federation of American Scientists, said it's also troubling that the North has been apparently allowed to duck verification by unilaterally dismantling parts of its nuclear and missile facilities without the presence of ...

Business Pepperidge Farm voluntarily recalls 4 varieties of Goldfish crackers
Author: 0 Pepperidge Farm voluntarily recalls 4 varieties of Goldfish crackers

Pepperidge Farm created a chart with the affected products' universal product codes and sell by dates to help consumers determine whether they have the potentially contaminated crackers. Anyone with questions about the recall is asked to call Pepperidge Farm customer service at 800-679-1791. Meanwhile, Mondelez Global said it recalled a number of Ritz Cracker products over its own fears of a salmonella outbreak on Monday.

Business Google profits soar despite $5B antitrust fine
Author: 0 Google profits soar despite $5B antitrust fine

The European Union's previous record fine was also aimed at Google, a $2.7 billion levy it imposed a year ago for unfairly favoring its comparison-shopping service in its search results. Alphabet today reported $32.7bn in revenues in the three months to June 30, up 26 per cent compared to Q2 2017, and 23 per cent in terms of constant currency.

Business Alphabet Earnings: Beats Estimates, Shares Rise 4%
Author: 0 Alphabet Earnings: Beats Estimates, Shares Rise 4%

Google is set to appeal the decision , and has already argued that apps are easy to remove and that OEMs are free to preload their own alternatives alongside Google's offerings. "If Google continues to go unchecked, their dominance will be extreme". But Google in the second quarter entered the second year of its latest multi-year deal with Apple , which analysts said helped even out costs.

Business Tesla’s shares drop on leak of embarrassing memo asking for money back
Author: 0 Tesla’s shares drop on leak of embarrassing memo asking for money back

The Tesla logo is seen at the entrance to Tesla Motors' new showroom in Manhattan's Meatpacking District in New York City, U.S., December 14, 2017. Tesla has been burning cash at a rate of about $1 billion a quarter and finished the first quarter with $2.7 billion in cash on hand. Even though Tesla is making more of the sedans, the company won't complete delivery and collect revenue for many of them until the third quarter, Whiston said.

Business Elon Musk apologises for calling Thai rescue diver a 'pedo'
Author: 0 Elon Musk apologises for calling Thai rescue diver a 'pedo'

Musk's financial backers agree, with Tesla investors calling for the tech boss to apologise to Unsworth. In response Mr Musk, 47, posted a series of tweets and referred to the British caver as " pedo guy ", apparently on the basis that he is a western man living in Asia.

Business Feminine hygiene now tax-free in India; sanitary napkins out of GST net
Author: 0 Feminine hygiene now tax-free in India; sanitary napkins out of GST net

Previously, the sanitary pads were kept under the 12 per cent Goods and Services Tax (GST) slab. "I am sure all mothers and sisters will be very happy to hear that sanitary pads are now 100 per cent exempt from tax", Finance Minister Piyush Goyal told reporters at a news conference in New Delhi , as reported by NDTV .

Author: 0 Tesla asked suppliers for money back to boost profitability

The memo said the rebates were essential to Tesla's continued operation, according to the Wall Street Journal report , that said the paper had reviewed the memo. "It would not be correct to apply historical cost savings to current quarter". The Journal said Tesla confirmed that it is "seeking price reductions from suppliers for projects, some of which date back to 2016, and some of which haven't been completed".

Business No victor in Mega Millions - jackpot up to $493 million
Author: 0 No victor in Mega Millions - jackpot up to $493 million

Players will have their first chance to cash in on the multi-million dollar prizes Friday night, July 20, with the Mega Millions drawing. They each won $1 million. Two tickets matched five numbers. The winning numbers were 1-14-30-44-62. Or just ask for a Quick Pick. The jackpot will now be at least $493 million in next Tuesday's drawing.

Business Facebook could have another Cambridge Analytica on its hands
Author: 0 Facebook could have another Cambridge Analytica on its hands

Facebook told the Wall Street Journal that it wasn't aware of some of Crimson Hexagon's contracts but said today that it would suspend its apps while it investigates further. In a blog entry posted by the firm on Friday , its chief technology officer Chris Bingham defended the company's work - without specifically mentioning Facebook's investigation.

Business Trump Tells CNBC He's 'Not Thrilled' About Rate Hikes
Author: 0 Trump Tells CNBC He's 'Not Thrilled' About Rate Hikes

Trump's assertions, made in a series of morning tweets , came a day after he broke with decades of traditional White House silence on Federal Reserve decisions, criticizing the nation's independent central bank for raising interest rates during a television interview.

Business Certain Ritz products recalled over salmonella concerns
Author: 0 Certain Ritz products recalled over salmonella concerns

The concern is over the ingredient whey powder, which one of Mondelez's suppliers has recalled due to "the potential presence of Salmonella ", according to Mondelez. If you have any concerns or seek more information on the recall, you can contact Mondelez Global at 1-844-366 -1171. Healthy people infected with Salmonella often experience fever, diarrhea, nausea, vomiting and abdominal pain.

Business China green-lights offshore foreign currency bonds as interbank collateral
Author: 0 China green-lights offshore foreign currency bonds as interbank collateral

The outbursts were another crosswind for Wall Street , which struggled to find direction and finished the day a hair's breadth in negative territory. After the interview, Trump reiterated criticism of the Federal Reserve's planned interest-rate hikes, posting on Twitter that the tightening policy would diminish any US trade advantage and exacerbate losses from "BAD trade deals".

Business When will North Korea denuclearise? Trump now says no ‘time limit’
Author: 0 When will North Korea denuclearise? Trump now says no ‘time limit’

It's crucial to have free movement of people and resources, which is why South and North Korea held talks in late June to discuss connecting and modernizing railways and roads. More than a month later, no concrete progress has been reported and North Korea has complained that the U.S. is making unilateral demands. In Fitzpatrick's view, the North has used the promise of war remains as leverage for political objectives, including a peace treaty that replaces the armistice agreement that ...

Business Trump claims Fed rate hikes hinder U.S. economy
Author: 0 Trump claims Fed rate hikes hinder U.S. economy

Tightening now hurts all that we have done. Trump also accused the European Union , China , and " others " of manipulating their currencies lower and creating an uneven playing field with the US. An important part of the Fed's role is its political independence. "I am not happy about it", Trump said. "But at the same time I'm letting them do what they feel is best ", he added.

Business Fiat says Marchionne's health worsens, names Jeep boss as CEO
Author: 0 Fiat says Marchionne's health worsens, names Jeep boss as CEO

Former Philip Morris chairman Louis Camilleri is set to take over as Ferrari CEO in the coming days pending shareholder approval. "Marchionne will be unable to return to work". The two men have worked together for 14 years and while they did not always agree, Elkann watched Marchionne create the company now known as FCA from the partnership of an ailing Fiat and a bankrupt Chrysler in 2008 that needed a business partner as a condition of exiting bankruptcy protection.

Business Gold slumps to lowest in a year on strong dollar, weak oil
Author: 0 Gold slumps to lowest in a year on strong dollar, weak oil

Powell reiterated his positive view of the USA economy in the second round of monetary policy hearings before legislators, although he noted the central bank was "slightly more anxious about lower inflation", a comment that could weigh on the pace for future rate hikes.

Business TVs, Washing Machines And These Items To Be Cheaper After GST Revision
Author: 0 TVs, Washing Machines And These Items To Be Cheaper After GST Revision

In July 2017, the Ministry of Finance said that the tax on sanitary napkins was lower than before. Other items for which the GST rate was cut include footwear, water heaters, electric irons, refrigerators, lithium ion batteries (used in electric vehicles), hair dryers, vacuum cleaners, food appliances and ethanol.

Business Burberry burned $37 million worth of goods to protect its brand
Author: 0 Burberry burned $37 million worth of goods to protect its brand

According to Burberry, excess stock is burned so that garments don't end up on the "grey market", where they might fall into the hands of illegal counterfeiters. All told, more than £90 million - roughly $116 million - worth of product has reportedly been destroyed over five years. However, it's not just the high-end brands that are guilty of this wasteful practice, previous year it emerged that a power plant in Sweden was burning unwanted H&M clothes.

Business Vietjet and Boeing sign US$12.7 billion deal
Author: 0 Vietjet and Boeing sign US$12.7 billion deal

The Farnborough Airshow is the biennial midsummer meet-up of aviation's who's who. Combined, the deals are worth $4.2 billion at list prices. The show which started on July 16 and extends till July 22 saw Airbus marginally outdoing Boeing, securing order commitments for 186 aircraft, as opposed to 175 for the Chicago-based aircraft manufacturer.