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Economy

Daily usage was unchanged in Facebook's biggest market, the United States and Canada, at 185 million daily users. There's a scratch in Facebook's Teflon coating as the social networking company loses approximately US$150 billion ($219b) in market capitalisation in under two hours, Reuters has reported .
  • Top lawmaker urges talks as Trump ramps up China trade war

    Top lawmaker urges talks as Trump ramps up China trade war

    Economy

    The ministry did not offer more details, but Beijing had earlier threatened "comprehensive measures" if more tariffs were imposed. "The Chinese government as always will have no choice but to take the necessary countermeasures", it said. Reacting to the Washington announcement, a senior trade official in Beijing accused the United States of "damaging the world economic order" and said tit-for-tat tariffs would "destroy" trade between the rival powers.
  • Oil's Twitter War May End Badly for Trump

    Oil's Twitter War May End Badly for Trump

    Economy

    Faced with the return of US sanctions, Iran is studying a revival of a plan to barter crude oil for goods, possibly resuming the scheme that it used to try to blunt the impact of the previous round of sanctions between 2012 and 2016. "As a result, American consumers would have to pay the price of Trump's unilateralism at gas stations". U.S. President Donald Trump delivers remarks at a "Salute to Service" dinner held in honor of the nation's military at The Greenbrier in White Sulphur ...
  • China to impose $34bn tariffs before the U.S. as trade dispute escalates

    China to impose $34bn tariffs before the U.S. as trade dispute escalates

    Economy

    China's foreign ministry said Tuesday that Beijing won't hesitate to retaliate against US tariffs and escalate a trade war with Washington if tensions over economic negotiations with the Trump administration continue to rise. His company, which sells sauvignon blancs and zinfandels to distributors in China has lost a half-million dollars in orders since China slapped tariffs in April on $3 billion worth of US fruits, nuts and wine.
  • LeBron James: Basketball star agrees to join Los Angeles Lakers

    LeBron James: Basketball star agrees to join Los Angeles Lakers

    Economy

    Howard, 32, was traded to Brooklyn from Charlotte earlier this offseason. Nonetheless, on the surface, it's confusing to land the best player in the National Basketball Association (and possibly of all-time) then surround him with players who were not exactly in high demand.
  • Mexico's next president is the flawless foil to Trump

    Mexico's next president is the flawless foil to Trump

    Economy

    All had Lopez Obrador winning more than 40 percent of the vote in the single-round race, well ahead of his rivals. Lopez Obrador, a one-time NAFTA skeptic who moderated his views in his third run at the presidency, said in a Mexican TV interview on Monday that he wanted a NAFTA deal that was good for Mexico.
  • Walmart's impeach Trump clothing draws social media outrage

    Walmart's impeach Trump clothing draws social media outrage

    Economy

    Supporters of President TrumpDonald John TrumpTrump: Democratic voters will support Republicans because of ICE criticism Coney Barrett, Kavanaugh among candidates who met with Trump: report Trump administration recommends against allowing China Mobile access to U.S.
  • U.S. wants to reduce Iran's oil revenue to zero

    Economy

    Production at Syncrude Canada's oil sands facility near Fort McMurray, Alberta is likely to remain offline at least through July, a Suncor Energy Inc ( SU.TO ) spokeswoman reaffirmed on Tuesday. "Recurring salvos in the trade war and falling asset prices raise the question of how much tariffs could damage the global economy", USA bank JPMorgan said.
  • Anonymous man buys $1 million worth of Toys 'R' Us inventory

    Anonymous man buys $1 million worth of Toys 'R' Us inventory

    Economy

    A lot of kids are really probably shopping online Amazon a place like that, but there's something special about going to a store like Toys "R" Us", said Dale Shough, a customer. After the sad photo of Geoffrey went viral, the San Antonio Zoo set up a GoFundMe page to raise $100,000 with the goal to "persuade the owners at Toys " R " Us to join the effort to save giraffes by donating the use of their most recognizable intellectual property", their beloved mascot.
  • ‘Death to Palestine’ chants erupt at Iranian economic protests

    ‘Death to Palestine’ chants erupt at Iranian economic protests

    Economy

    The economic trouble also comes as worldwide firms have pulled away from Iran after President Donald Trump's decision to withdraw America from Tehran's nuclear deal with world powers. "The current situation, particularly on the economic level, requires more coordination among parties", state news agencies quoted parliament Speaker Ali Larijani as saying.
  • Trump threatens Harley-Davidson with tax

    Trump threatens Harley-Davidson with tax

    Economy

    To avoid paying a 31% tariff to ship motorcycles from the USA to the EU, Harley made a decision to move more production to its plants in places like Thailand and Brazil. Trump says he's getting other countries to reduce and eliminate tariffs and trade barriers, and open up closed markets. Meanwhile, in order to intensify its sanctions against Iran , the United States has ruled out any exemption to India and Indian companies from carrying out any transactions with Iran.
  • Harley-Davidson to Outsource More US Manufacturing Jobs, Trump Calls Move 'Excuse'

    Harley-Davidson to Outsource More US Manufacturing Jobs, Trump Calls Move 'Excuse'

    Economy

    Trump, however, deflected blame today via a tweet, citing taxes as being nothing more than an excuse on the part of Harley Davidson . The moves have raised the spectre of a full-blown trade war as the Trump administration pursues a protectionist tack with both allies, including the European Union , Canada and Mexico, and rivals, such as China.
  • With Quill Protection Gone, What Should Online Sellers Do?

    With Quill Protection Gone, What Should Online Sellers Do?

    Economy

    The court's decision says states can force companies to collect sales tax for online sales . Bridgett Lambert, the executive director of the West Virginia Retailers Association, said she was not sure if Justice understands the impact of the ruling .
  • Online Retailers Lose State Tax Subsidy

    Online Retailers Lose State Tax Subsidy

    Economy

    When we asked him if sellers must immediately begin collecting sales tax for all states and all localities, he said no, "but it does mean that sellers need to start preparing for a sea change in their compliance obligations". "It is going to squash the entrepreneurship, I just can not stress that enough", Christy Keyon, who owns Bird and Bean Coffee House and Naomi and Olive Gift shop said.
  • Canada just legalized weed, and it's looking better every day

    Canada just legalized weed, and it's looking better every day

    Economy

    As a result, the attempts to legalize cannibas for recreational use have caused Canadian marijuana companies like Canopy Growth Corp., Aphria Inc., and Aurora Cannabis Inc.to become the center of investor frenzy. Last week, we published a blog post regarding a proposed bill in the United States Senate that would provide more autonomy to individual States in regulating marijuana .
  • After India, now European Union slaps additional tariffs on the US

    After India, now European Union slaps additional tariffs on the US

    Economy

    The world's most-powerful central bankers this week warned that escalating worldwide trade tensions have started damaging confidence among companies, threatening the global economic expansion. The White House last week announced plans to slap 25 percent tariffs on 1,100 Chinese goods, worth $50 billion in imports. "He's right, we make great cars in the United States".