Markets

Apple's pricey iPhone X, subscriptions deliver earnings beat

Apple's pricey iPhone X, subscriptions deliver earnings beat Davidson & Co. Revenue and earnings per share were both up (and over analyst expectations), and stocks have seen a modest bounce as investors jump back on the hype train. But iPhone revenue jumped 20 percent to $29.9 billion - a reflection of the higher price Apple's iPhones command ever since the $999 iPhone X debuted late a year ago. [Full Article...]

PM Modi congratulates Imran Khan

PM Modi congratulates Imran Khan Naeem ul Haq, a spokesperson of Imran Khan , told media on Friday that they had successfully got the required numbers to get the simple majority in the house. Khan's party also appears to succeeded in wresting control of the local assembly in Pakistan's biggest province, Punjab, from the Sharifs. It further stated that Modi had advocated a more active approach. [Full Article...]

Juncker to Trump: US, EU are 'close partners, not enemies'

Juncker to Trump: US, EU are 'close partners, not enemies' Mr. Juncker said the European Union already imports 35% of its natural gas from USA producers, but will work to buy more . A formal proposal would only come after the US Commerce Department completed its investigation into whether auto imports threaten national security. [Full Article...]

‘First-time’ kiss with Trump caught EU’s Juncker by surprise

‘First-time’ kiss with Trump caught EU’s Juncker by surprise United States Treasury Secretary Steven Mnuchin announced on July 26 that Washington and Brussels will "immediately resolve" their dispute over USA steel and aluminium tariffs and subsequent European Union counter-measures. "We are not going to turn into a Soviet style economy". "It is substantial. It will really help stabilize the farm income situation, as well as agricultural lenders in th... [Full Article...]

Twitter Shares Fall, Ending A Hard Week For Social Media Stocks

Twitter Shares Fall, Ending A Hard Week For Social Media Stocks Monthly users fell to 335 million in the second quarter and came in well below Wall Street's expectations of 339 million. As for the rest of the report , the company earned an adjusted $0.17 a share on revenue of $710.5 million - beating the $0.16 and $697.3 million that analysts were expecting. [Full Article...]

Tech firms prepare for share plunges as Facebook loses $128 billion

Tech firms prepare for share plunges as Facebook loses $128 billion The social media platform's second quarter earnings report showed it had lost approximately a million monthly users and 3 million daily users in Europe, with no user growth in the US. Everyone's favorite social network Facebook reported its second-quarter earnings this Wednesday. "With stagnating core user growth, we think there is too much near- to mid-term uncertainty to recommend shares... [Full Article...]

Facebook Revenue, User Growth Miss Estimates as Scandals Pile Up

Facebook Revenue, User Growth Miss Estimates as Scandals Pile Up Facebook has grappled with months of scrutiny over Russian misuse of the platform in the 2016 USA presidential campaign and the harvesting of its users' data through the political consulting firm Cambridge Analytica . The second-quarter results were the first sign that a new European privacy law and a succession of privacy scandals involving Cambridge Analytica and other app developers have bi... [Full Article...]

Million-dollar winning Mega Millions ticket sold at Giant in Aston

Million-dollar winning Mega Millions ticket sold at Giant in Aston The numbers drawn Friday night were: 44-14-30-62-1 Megaball: 1Two tickets matched the five white balls to win $1 million each after Friday's drawing. Both tickets missed the yellow ball number, 1, that would have won them the entire pot. The largest Mega Millions victor from MI was a couple from Port Huron who won $208 million in April 2005. The estimated Super Kansas Cash jackpot for Saturday... [Full Article...]

Tesla reportedly asks for money back on payments to suppliers

Tesla reportedly asks for money back on payments to suppliers Musk, Tesla's co-founder and CEO, confirmed on Twitter that Tesla is asking for money from its suppliers. "It would not be correct to apply historical cost savings to current quarter", tweeted Musk. "I haven't heard of this being done before and I've been following the industry for 20 years, " he said. Tesla shares have fallen sharply after it was revealed the electric carmaker is seeking ... [Full Article...]

Alphabet reports robust earnings despite European Union fine

Alphabet reports robust earnings despite European Union fine When including the fine, second-quarter net income fell to $3.20 billion, or $4.54 per Class A and B common share and Class C capital share, from $3.52 billion, or $5.01 per share, a year earlier. Another good signーAlphabet also saw slowing growth in its so-called traffic acquisition costs, or how much the company pays to drive views to its sites. [Full Article...]

Dollar falls as Trump accuses ‘China, European Union of currency manipulation

Dollar falls as Trump accuses ‘China, European Union of currency manipulation Brookings Institution Fellow Joseph Parilla said governors don't decide US trade policy but can engage in direct economic diplomacy to encourage investment, while funding things like education and research at home. "China may issue verbal support soon". For great powers like China and the USA, competition - even conflict - is natural. "That fear gets stoked when you have reports such as this", s... [Full Article...]

GST Council reduces tax rates on more than 50 items

GST Council reduces tax rates on more than 50 items Or, as Jaitley said, "If you did away with that 12% and brought that down, you probably won't have any Indian manufacturer left, it will be only the Chinese products which will be sold in the Indian market". They will have to, however, pay taxes monthly. After the latest rounds of rate cuts by the GST Council on July 21, only 35 items are left in the 28 per cent tax slab, an official said. [Full Article...]

'Not thrilled' with interest rate hikes

So the Fed's rate hikes have lit a fire under the USA dollar, something which tends to widen the country's trade deficit as foreign countries with weaker currencies become much cheaper to import from. "I don't want them to be scared". "But I don't like all of this work that goes into doing what we're doing". President Trump on Friday cited alleged currency manipulation by China and the Europe... [Full Article...]

Oil trades below $69 as investors weigh mixed inventories report

Oil trades below $69 as investors weigh mixed inventories report Saudi Arabia expects its crude exports to drop by roughly 100,000 barrels per day in August as the world's top oil exporter works to ensure it does not push oil into the market beyond its customers' needs, the kingdom's OPEC governor said on Thursday. [Full Article...]

Google Just Fined $5 Billion for Abusing Android Dominance

Google Just Fined $5 Billion for Abusing Android Dominance The EC alleged that Google used Android's dominance in the European Union to further strengthen its lead in search, a practice that is illegal in the EU. Google says it will appeal. There is also a third probe underway into Google's advert-placing business AdSense. It also accuses Google of preventing device OEMs from releasing and selling devices that ran a forked version of Android "not ap... [Full Article...]

Second quarter Netflix subscription numbers disappoint

Second quarter Netflix subscription numbers disappoint Netflix expects third quarter revenue to be $3.99 billion U.S. and new subscription adds of five million, compared with 5.3 million in the same quarter past year. Wall Street watches them closely and even a slight miss can... This saw the global streaming service provider post a revenue of US$3,907 million for Q2 18, compared to US$2,785 million during the same period previous year. [Full Article...]

The Blockbuster from 'Last Week Tonight' just closed

The Blockbuster from 'Last Week Tonight' just closed It's not all bad news for video store lovers, though. Mr Daymude says the buzz from the Oliver connection brought more people to the store. Alan Payne, who owns the two Alaska stores through a Blockbuster licensee called Border Entertainment, said he and his team realized nine months ago it wouldn't make any sense to renew the leases when they're up in August. [Full Article...]

Elon Musk offers help in Thailand cave rescue

Elon Musk offers help in Thailand cave rescue A former member of Thailand's Navy SEAL team died trying to place oxygen tanks along a potential escape path, BuzzFeed News reports. Rescuers are in a race against time to get the team out of the cave , as oxygen levels are falling and monsoon rains threaten to leave them trapped for months. [Full Article...]

Business hiring forges ahead in June, with 213,000 jobs added

Business hiring forges ahead in June, with 213,000 jobs added The Labor Department said that average hourly earnings rose five cents, or 0.2% in June after increasing 0.3% in May. June was a record 93rd straight month in which private-sector employers hired more people than they fired or laid off. [Full Article...]

Huawei Amazon Prime Days: Save up to $300 on phones and wearables

Huawei Amazon Prime Days: Save up to $300 on phones and wearables One big change this time around is the event's length - last year, Prime Day ran 30 hours, but this year's event will run for 36 hours. Amazon Brands - Find our lowest prices on products from collections available exclusively on Amazon , including up to 25% off furniture and décor from Rivet and Stone & Beam, up to 20% off AmazonBasics items, and 30% off everyday essentials from Presto! ,... [Full Article...]


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