Finance

Coca-Cola to buy United Kingdom coffee chain Costa for $5.1B

Coca-Cola to buy United Kingdom coffee chain Costa for $5.1B Shares in Whitbread Plc have surged nearly 20 percent on news of the deal on Friday, adding more than £1 billion ($1.3 billion) to the group's stock market value, as financial analysts said the price was markedly higher than expected. [Full Article...]

How Successful was Demonetisation? Four Takeaways From the RBI’s Annual Report

How Successful was Demonetisation? Four Takeaways From the RBI’s Annual Report The demonetisation of Rs 500 and Rs 1000 notes in November 2016 had prompted the RBI to print new currency notes. The Reserve Bank of India's annual report for 2017-18 said more than 99% of the Rs. Garg said there were benefits in the process with major advantage being induction of newer notes with more security features, "virtually weeding out all the fake currency". [Full Article...]

Volkswagen part of bid to take Tesla private

Volkswagen part of bid to take Tesla private It is not clear exactly why Musk changed his mind about taking Tesla private, but the WSJ report suggested that he balked at the proposal of relinquishing further control of his company in order to secure the investment. "This is simply something that you don't lie about, this is not the way it's done", he said. Musk said in a blog post late on Friday that his decision to scuttle the proposed ... [Full Article...]

U.S., Mexico Reach Trade 'Understanding' That Could Lead To NAFTA Overhaul

U.S., Mexico Reach Trade 'Understanding' That Could Lead To NAFTA Overhaul Trump , like labour unions in the US and Canada, has expressed concern about the NAFTA-era migration of auto jobs to lower-wage Mexico. Trump will make an announcement on trade from the Oval Office at 11 a.m.in Washington , according to a statement from the White House. [Full Article...]

Oil markets muted as U.S.-China trade war remains unresolved

Oil markets muted as U.S.-China trade war remains unresolved After fading into the print, WTI rebounded after API reported a bigger than expected crude draw. Brent crude oil LCOc1 settled up $1.09 a barrel, or 1.5 percent, at $75.82 a barrel. Meanwhile, China , the world's biggest oil importer and Iran's biggest customer, is said to have rejected a USA request to halt purchases from the producer , dealing a blow to Trump's efforts to isolate the ... [Full Article...]

US enforces tariffs on another $16bn of Chinese goods

US enforces tariffs on another $16bn of Chinese goods Beijing denies Washington's allegations and insists it adheres to WTO rules. As part of Trump's aggressive trade stance, Washington hit China with punitive duties on another $16 billion in goods, triggering a swift tit-for-tat retaliation from Beijing . [Full Article...]

Scott Morrison to step in for Malcolm Turnbull

Scott Morrison to step in for Malcolm Turnbull His resignation from Parliament would force a byelection that could cost the government its single-seat majority. His opponents said Thursday they had enough support to oust him, but Australian media reported they did not have enough signatures on the petition. [Full Article...]

Michael Cohen's lawyer says he'd 'never accept a pardon' from President Trump

Michael Cohen's lawyer says he'd 'never accept a pardon' from President Trump In a round of media interviews, Davis suggested that Cohen has information that would be of interest to the special counsel and other law enforcement officials scrutinizing Trump, but he stopped short of offering details. Cohen would be a prosecutor's "dream cooperator: one who had special insider access to the leader of a powerful, closed, corrupt organization", former prosecutors Mimi Rocah and ... [Full Article...]

Whistleblower accuses Tesla of spying on employees at Gigafactory

Whistleblower accuses Tesla of spying on employees at Gigafactory A former member of Tesla's internal investigations team, Karl Hansen, filed a tips, complaints and referrals form to the SEC about the Gigafactory on August 9, Hansen's attorney Stuart Meissner said in a news release. The EV maker allegedly installed "specialized router equipment within its Nevada Gigafactory created to capture employee cell phone communications and/or retrieve employee cell... [Full Article...]

Trump asks SEC to study six-month reporting system for public firms

Trump asks SEC to study six-month reporting system for public firms President Donald Trump on Friday said he has instructed the US Securities and Exchanges Commission to investigate the abolition of quarterly financial reporting for US companies, after discussions with business leaders. Tesla Inc Chief Executive Elon Musk stunned investors last week with a plan to take the electric carmaker private, a move he says would benefit shareholders by removing short-... [Full Article...]

Retail inflation slows to 9-month low at 4.17%

Retail inflation slows to 9-month low at 4.17% The latest increase was the smallest since August 2013 and the slowdown over the past two years has been driven mostly by London and the south east according to the ONS. 'The big question is what happens to prices when the property market's own version of Quantitative Easing is taken away?' This is 5.7 per cent lower than in the same month past year, an between May and June 2018, transactions fe... [Full Article...]

Trump Says U.S. Won't Pay Turkey for Pastor's Release

This has worsened a crisis for Turkey's currency, the lira, which has lost about a third of its value against the dollar since January. US stocks climbed higher in afternoon trading after a Mexican economic official told reporters that trade talks between the United States and Mexico were "advancing well". [Full Article...]

Turkey will respond if United States imposes more sanctions amid pastor row

Turkey will respond if United States imposes more sanctions amid pastor row U.S. treasury secretary Steven Mnuchin yesterday said to Mr Trump that further sanctions are ready to be put in place. Pastor Andrew Brunson , who has lived in Turkey for more than two decades, was detained in 2016 after a government crackdown following a failed coup attempt. [Full Article...]

Turkish lira firms against dollar ahead of Albayrak presentation

Turkey's Vice President Fuat Oktay has said Turkey has increased customs duties on some United States products including alcohol, cigarettes and cars in retaliation to Washington's tariffs on Turkish aluminium and iron. In an effort to defend the lira, Turkey's central bank tightened its rules on currency swaps and other foreign exchange transactions, limiting banks' ability to supply lira to f... [Full Article...]

Detained Pastor Brunson causing Turkey-U.S. tension files fresh appeal

Detained Pastor Brunson causing Turkey-U.S. tension files fresh appeal Mr Erdogan suggested Turkey would stop procuring US-made iPhones and buy Korean Samsung or Turkish-made Vestel devices instead. Turkey sought to face down the USA and currency traders as its president, Recep Tayyip Erdoğan , reportedly received support from the German chancellor, Angela Merkel. [Full Article...]

Rupee falling not a worry, says government

Rupee falling not a worry, says government India would not be concerned if the rupee currency fell to 80 against the dollar after hitting an all-time low of 70 .1 on Tuesday, as long as other currencies also depreciated, a senior finance ministry official said. At 10:35am, the rupee was trading at 70.07 a dollar, down 0.21% from its previous close of 68.93. According to NDTV , analysts have stated that crisis has been pending for a w... [Full Article...]

Turkey will boycott US electronics: Turkey

Turkey will boycott US electronics: Turkey The crisis has been sparked by a series of issues including a faltering economy-the central bank has defied market calls for rate hikes-and tensions with the United States, which has hit Turkey with sanctions over its detention of an American pastor. [Full Article...]

Musk says talking to Saudi fund, others on Tesla buyout

Musk says talking to Saudi fund, others on Tesla buyout While explaining the logic of taking Tesla private, Musk had stated in a blog post: "As the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company". [Full Article...]

Turkey says Trump tariff move will harm ties, vows retaliation

Turkey says Trump tariff move will harm ties, vows retaliation Turkey said it would respond to the new US tariff action "without delay" and warned the move would further harm relations between the two countries. The US may also be stuck on Turkish demands to waive or minimise a treasury fine on Halkbank, a Turkish state bank involved in a court case over violating US sanctions on Iran. [Full Article...]

Oil steady as concern over Iran sanctions offset weak Chinese imports

Oil steady as concern over Iran sanctions offset weak Chinese imports It shipped out nearly 3 million barrels per day (bpd) of crude in September, equivalent to around 3 percent of global demand. Exports to Japan also surged to a seven-month high as refiners rushed to secure as many cargoes as possible before USA sanctions are re-applied. [Full Article...]


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