Business

Oil prices fall after surprise rise in USA inventories

Oil prices fall after surprise rise in USA inventories Crude oil futures for August delivery ended up $0.70 or 1%, at $69.46 a barrel on the New York Mercantile Exchange, after touching a low of $67.80. Brent crude , the global benchmark, was 0.3 per cent higher at $73.13 a barrel. "Though there's a lot of crude coming out from Saudi Arabia now, spare capacity is really going to be the big issue going forward". "EIA's latest Short-Term Energy ... [Full Article...]

British PM says talks with European Union started based on her Brexit plan

British PM says talks with European Union started based on her Brexit plan In a letter to voters in his Shipley constituency, obtained by the Yorkshire Post, Mr Davies said that Mrs May's Chequers' plan for Brexit was "unacceptable". We - that is MPs from every party - would be working against the Tories. After the hubbub had abated, Mr Corbyn continued: "Isn't it the case that the Government is failing to negotiate Brexit, failing to meet the needs of the country be... [Full Article...]

Microsoft revenue exceeds $100bn boosted by cloud services

Microsoft revenue exceeds $100bn boosted by cloud services Revenue has increased 17 per cent year over year, and net income is up 35 per cent, the company said in a statement late on Thursday. " Microsoft continues to fire on all cylinders as the company benefits from its strong positioning across major secular compute themes (hybrid, intelligent cloud/intelligent edge, gaming).This, coupled with a favorable IT/macro environment, a Win10 replacement cy... [Full Article...]

Amazon Prime launch HUGE sale day - when does it start?

Amazon Prime launch HUGE sale day - when does it start? Prime Day , which offers discounts to Prime members , is the company's annual sales bonanza. The company did not provide total sales figures for the event, which was open only to members of its Prime subscription service across 17 countries, up from 13 past year. [Full Article...]

Google fined record $5.1 billion by European Union in Android anti-trust investigation

Google fined record $5.1 billion by European Union in Android anti-trust investigation These practices have denied rivals a chance to innovate and to compete on the merits . Google chief executive Sundar Pichai had a call with EU Competition Commissioner Margrethe Vestager late on Tuesday for a so-called state of play meeting, a usual step to alert companies of an impending penalty, according to one of the people, who asked not to be named because the discussion is private. [Full Article...]

Furious Elon Musk calls Thailand cave rescue diver a 'pedo'

Furious Elon Musk calls Thailand cave rescue diver a 'pedo' In an earlier interview with the channel, Unsworth said the submarine of Musk was 5 feet, 6 inches tall and was in no way possible to be sent inside the caves. Twitter users slammed Musk over his accusations against Unsworth. Musk fired back at this claim, saying the former provincial governor was "not the subject matter expert" and sharing his correspondence with leader of the dive rescue tea... [Full Article...]

Netflix Misses Big on Q2 Subscriber Growth, Stock Drops 11 Percent

Netflix Misses Big on Q2 Subscriber Growth, Stock Drops 11 Percent During the quarter, the company added 670,000 domestic streaming subscribers, and 4.47 million global subs. As of June 30, Netflix had 130 million subscribers, including 57.4 million in the US. Meanwhile, Apple - the world's most valuable company - is spending about $1 billion on original programming for a video service of its own. Foxtel executives are this morning witnessing light at the e... [Full Article...]

Netflix shares plunge due to lower subscriber growth

In the second quarter a year ago, it added 5.2 million - 1.1 million USA subscribers and 4.1 million worldwide ones. Despite the weak quarter, and a lowered outlook for the third quarter, Emarketer expects Netflix to remain the clear leader among video streaming services in the US. [Full Article...]

Get ready for Amazon Prime Day on Monday

Get ready for Amazon Prime Day on Monday Currently, the company boasts more than 100 million Prime members. As you're doing research on the products you want ahead of time, copy the URL of the item's webpage and enter it into the search bar at this website . Prime Day deals are exclusive to Prime members, but if you don't have a subscription, then you can take advantage of the free 30-day trial assuming that you haven't done so al... [Full Article...]

Amazon Prime Day parties include Ariana Grande concert

Amazon Prime Day parties include Ariana Grande concert The company added that last year, Amazon customers purchased " more pencils, pens, notebooks, glue sticks, lunchboxes and backpacks on Prime Day than any other day of the year". Amazon encourages you to snap a selfie against the Prime Day wall and share over social media handles by using #PrimeDayVR & #AmazonPrimeDay. Keep in mind, however, that means you have to secure another account contai... [Full Article...]

USA fires next shot in China trade war

USA fires next shot in China trade war It said Beijing would take unspecified "necessary countermeasures" to protect its "core interests". China accused the USA of starting "the largest trade war in economic history", after the first round of tariffs took effect last week. "China has no option but to fight fire with fire. So, now he's fighting two wars and that's a bit complicated", Tal said. USA crude oil futures settled down 5 ... [Full Article...]

European exporters shift trade to avoid higher U.S. tariffs

European exporters shift trade to avoid higher U.S. tariffs China has vowed to retaliate dollar-for-dollar to any further US tariffs. Lighthizer's office will hear public comments on the plan and will reach a decision after August 31, according to a senior administration official who briefed reporters on condition of anonymity. [Full Article...]

Sworn in with new powers, Erdoğan leaves on first trip

Sworn in with new powers, Erdoğan leaves on first trip He says the changes, the biggest overhaul of governance since the modern Turkish republic was founded from the ruins of the Ottoman Empire nearly a century ago, are needed to drive economic growth and guarantee security. Just as Ataturk transformed an impoverished nation at the eastern edge of Europe into a secular, Western-facing republic, Mr Erdogan has fought to bring Islamic values back into p... [Full Article...]

Employment Situation Heats Up in June

Employment Situation Heats Up in June Many analysts read the higher jobless rate as an encouraging sign because the influx of almost 76,000 job seekers back into the labour market last month suggested more people are optimistic they can find work thanks to the hotter economy. "It's not your father's labor market anymore", said Diane Swonk, chief economist at Grant Thornton. The reason for the rise in the unemployment rate was "a stam... [Full Article...]

Fears rise of long US-China trade battle

Fears rise of long US-China trade battle Russian Federation is introducing extra duties on a range of products imported from the U.S. that can be replaced by locally made equivalents. Opening shots were fired at 12.01am this morning as Washington stuck to its deadline and began imposing tariffs on $34bn of Chinese goods. [Full Article...]

Trump to OPEC: 'Reduce pricing now!'

Trump to OPEC: 'Reduce pricing now!' Traders were looking for a draw of about 3.267 million barrels. Trump believes OPEC can do more by by drawing on its spare - or idle - production capacity. Volatility in the Middle East and USA foreign policy can have a major impact on oil prices. Oil was trading at over $78 per barrel of the Brent benchmark on Thursday, while US West Texas Intermediate was trading at $74.55. [Full Article...]

Musk sends engineers to help Thai boys trapped in cave

Musk sends engineers to help Thai boys trapped in cave The latest data shows that the most challenging section for the boys to dive out is about 200 metres long, next to the so-called Pattaya Beach where the floodwater is estimated to be 5-10 metres deep. Musk wrote in response that the water near the entrance looks like it could be pumped out. "Training unnecessary & less susceptible to panic attack". [Full Article...]

Saudi Arabia to pump more oil following USA request

Saudi Arabia to pump more oil following USA request Saudi Arabia now produces some 10 million barrels of crude oil a day. "The Trump support base is probably the part of the US electorate that will be the most sensitive to an increase in USA gasoline prices", Halff said. Saudi Arabia now produces some 10 million barrels of crude oil each day. "We have an $80 per barrel price for oil in the medium term and we are pretty much at that level". [Full Article...]

Oil prices chart new territory on supply-side concerns

Oil prices chart new territory on supply-side concerns Tehran blames rising prices on US sanctions imposed on Iran and Venezuela , founding members of the cartel. A survey of analyst expectations from S&P Global Platts revealed expectations of a drain on US crude oil inventories of 4.5 million barrels last week, adding support to the concerns about a market deficit. [Full Article...]

Sizing up the global and domestic impact of China tariffs

Sizing up the global and domestic impact of China tariffs Washington's targets for higher border taxes focus on industrial components like PC parts, fuel pumps, construction equipment and autos, according to trade data firm Panjiva. "Counterstrike is major economies' first reaction to Washington's trade war", it said in its editorial. "It is totally within the scope of duty of the Chinese Embassy and consulates in the U.S.to issue such travel alert". [Full Article...]


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