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United Kingdom interest rate cut leads to sharp fall in sterling

Carney said uncertainty from the Brexit vote will mean less demand, so businesses will cut their output reducing GDP growth and putting people out of work: "The combination of these demand and supply factors means that cumulative GDPgrowth is expected to be 2.5 percent lower by the end of the forecast period than was the case in May".

Business

PMLA court grants bail to Jignesh Shah

According to Tushad Cooper, member of FTIL's legal team, the defence, while seeking Shah's bail, had argued before the court that Shah's arrest by the ED in the alleged money laundering case was "illegal". The chargesheet detailed money trail amounting to Rs 3,721.22 crore. The central agency, which arrested Shah, had managed to trace some dubious transactions between FTIL and its subsidiary companies.

Business

Durant powers United States over China in bid for repeat gold

This year's team will be led by all-stars Kevin Durant and Carmelo Anthony- and they have a legacy to protect. DeMarcus Cousins added 17 points and Paul George 15 for the U.S., who are heavy favourites to win a third straight Olympic title.

Business

Tesla shares slightly higher after company posts wider loss

Some investors have questioned the viability of the deal as both Tesla and SolarCity continue to report losses . The company's share price was down 0.62 per cent at the time of writing in after-hours trading, to $225.79. Tesla acknowledged the crash and said its sensors failed to pick up the white side of the truck against a brightly lit sky. Without going into too many details, Musk said the company also is working on developments in autonomous technology that will blow ...

Business

Czech foreign ministry denounces latest North Korean missile tests

The launches follow an agreement last month between South Korea and the USA to deploy an advanced Terminal High Altitude Area Defence anti-missile system in the South. One of the missiles blew up immediately after launch while the other flew about 1,000 kilometers before plunging into the Sea of Japan, according to South Korean defense officials.

Business

Modi to speak in Lok Sabha on GST

The NDA government wants to establish the proposed GST Council in six to eight weeks so as not to lose the momentum built around the Goods and Services Tax regime, which propelled the enabling Constitution Amendment Bill through the Rajya Sabha.

Business

New Polls Show Hillary Clinton Leading Trump After The DNC

A recent poll by Reuters showed Clinton beating Trump by five percent in a two-way matchup, but they are tied when Libertarian Party candidate Gary Johnson and Green Party candidate Jill Stein are included in the race. "We are not going back to sleep", said Sanders delegate Erika Onsrue of Minnesota. "Your cause is our cause", she told Sanders backers. It's a big deal.

Business

Hungary's Iron Lady smashes 400m individual medley record in Rio

The 20-year-old is taking part in his first Olympics and will also compete in the 1,500 freestyle and 4x200 relay. Hosszu was enormous in the 400m IM and setting a world record rarely looked in doubt. "I have been training through the whole four years, I didn't take off more than a day. and it worked". She led all the way and touched in 4 minutes, 26.36 seconds, easily eclipsing the record of 4:28.43 held by China's Ye Shiwen.

Business

Goldman Sachs Picks the Winners at the Rio Summer Olympics

The biggest relief for India has been wrestler Narsingh Yadav's clearance after he was ensnared in a doping scandal. India's performance in London was best ever at Olympics and the nation hopes to better it's tally this time. Good Wishes from President: The President of India, Shri Pranab Mukherjee sent his well wishes to the Indian Group participating in the Rio Olympic Games 2016 on the eve of the opening ceremony.

Business

Currencies Direct: Interest rates slashed to prevent recession

It will also make up to £100 billion available to banks and building societies to mitigate the impact of falling interest rates. With the BoE now out of the way, the market's focus is shifting to the United States jobs report due at 12h30 GMT.

Business

Dubai airport far from normal after plane crash landing

Authorities said they were investigating Wednesday's crash, which occurred after the crew apparently attempted unsuccessfully to abort a landing. The Boeing B 777-300 plane which was involved in the accident was 13 years old. Dubai International Airport was closed for a few hours following the emergency, with several flights cancelled, delayed or diverted. Amoung the 300 passengers and crew were two Australian travellers.

Business

Venus Williams takes court on Day 1 of Olympic tennis

Open last September - joining Venus Williams on the way out. She will team with older sister Venus in Rio as they look for a fourth gold medal together. Williams spoke about being a woman whose work places her under public scrutiny while, you know, having a body, and she was refreshingly real - not that we'd expect anything less from the champion and Kevin Hart workout buddy.

Business

Markets Right Now: Stocks opening higher on Wall Street

The Dow Jones industrial average is up 15 points, or 0.1 percent, to 18375. The Bank of England unveiled a series of stimulus measures including its first interest rate cut since the global financial crisis, lifting stocks in Europe. The Standard & Poor's 500 index is up 1 point, or 0.1 percent, to 2,165. On the Nasdaq, 1,508 issues rose and 1,185 fell. Stocks are ending almost flat on Wall Street as the market continues the small moves it's made in the last few weeks.

Business

Verizon Buys Yahoo for $5 Billion

Little will be left of Yahoo , it seems, apart from a 35.5 percent stake in Yahoo Japan and 15 percent of Chinese e-commerce company Alibaba , worth US$41 billion. She was the company's fifth leader in five years. Mayer also tried to frame the deal in a positive light on the call. In a later interview with The Associated Press, she said it's too early to know whether there will still be a desirable role for her after Yahoo and AOL are combined.

Business

Rio Olympics 2016: Australian athletes ROBBED during fire evacuation

About 100 officials and athletes were briefly evacuated when the fire broke out in a vehicle park rubbish bin. Standing at the base of the statue, Yusra Mardini, a swimmer who fled Syria's war and trains in Germany, said that the entire refugee team was elated to be in Rio "because all of them have the same strong feeling about never giving up, and they did a lot to reach here".

Business

Sobbing A-Rod Announces The Yankees Are Ending His Career

Having been demoted from his full-time designated hitter role, Rodriguez is batting just.204 with nine home runs. A-Rod, who is hitting.209 this season with a.252 OBP, has started just one of the Yankees' last 14 games. General Manager Brian Cashman and Coach Joe Girardi say A-rod will be a natural leader and mentor in his new role to the organization's younger players.

Business

Virigina Officer Convicted in Killing of Unarmed Black Teen

On Thursday, Stephen Rankin, a white former police officer, was convicted of voluntary manslaughter for shooting William Chapman II, an unarmed black 18-year-old. The rare trial of a white officer for shooting a young black man played comes amid an ongoing nationwide controversy over the use of deadly force by the U.S.

Business

BOJ eases policy with modest increase in ETF buying

Yap Securities Inc., said investors seemed disappointed with BOJ's continued buying of exchange-traded funds (ETF). The BOJ's timid actions Friday show that "Japan has reached the limit of monetary easing", said Ben Sy, head of fixed income, currencies and commodities at J.P.

Business

United States woman stabbed to death in London named as Darlene Horton

He said police had so far found no evidence of radicalization or anything that would suggest that he was motivated by terrorism . The suspect also received treatment in hospital and is now in police custody in south London . Police flooded the streets with extra officers and mobilized counterterror detectives before saying the shocking burst of violence appeared to have been "triggered by mental-health issues".

Business

Yen climbs against dollar after BOJ fails to impress investors

Market strategists have said that stocks have gotten expensive in recent days, and many investors are waiting for earnings to play out before making any major moves. Japan's Nikkei, which swung between gains and losses after the announcement, recovered to trade up 0.6 percent. The bank is being pushed to work with the government to encourage growth at a time when Prime Minister Shinzo Abe is likely to announce a 28 trillion yen or $266 billion stimulus package in the coming week.

Business

Bank of England slashes lending rates

With swaps prices indicating the probability of a cut Thursday at 99.7 per cent, and speculative investors being the most bearish on the pound since records going back to 1992, some are adjusting positions to limit potential losses in case the BOE surprises by keeping rates unchanged.

Business

U.S. payrolls gains beat expectations, wages rise

Health care employment added +43,000 jobs in July, for a total the past twelve months of +477,000 jobs. US employment increased more than expected in July and wages picked up, which should bolster expectations of an acceleration in economic growth and raise the probability of a Federal Reserve interest rate hike this year.

Business

Thais vote on new constitution

Thais voted Sunday in a refe. Preliminary results of a referendum on Sunday (Aug 7) showed Thailand has voted to accept a junta-backed constitution that would pave the way for an election next year but require future elected governments to rule on the military's terms.

Business

Summer Olympics 2016: Winners and Losers in Rio on Day 1

Also the youngest of the eight finalists by several years, Thrasher seemed unfazed by her seasoned field and consistently scored in the 10 points target area over the 20 rounds. A fan of working her way through puzzles, it was the element of problem-solving in shooting that really spoke to Thrasher . Thrasher started the finals with a bullseye, earning her a ideal score of 10.9.

Business

Australia rivalry highlights first night in Olympic pool

In Rio, she'll get a chance to go after her records in the 400 and 800, while adding some more Olympic hardware to her list of accomplishments. No swimmer has swept the 200, 400 and 800 freestyles in the same Olympics since Debbie Meyer at Mexico City in 1968.

Business

AU sends best regards to Africans participating in Rio Olympics

Looking at past Olympics, the report correlated each country's overall growth environment (GES) with its medal attainment. The next most important variables were human capital (life expectancy and education) and the use of technology. But this year, Russian Federation will most likely fail to top the medal table since many of its competitors were disqualified. South Korea is a good example of the medal boost provided by a strong economy; despite a population of only 51 million, South Korea ...

Business

China Urges Hinkley Power Plant Go-Ahead

Critics believe the Government has been stung by criticism of the amount of money EDF will be paid for generating power from Hinkley - £92.50 per megawatt hour of electricity generated. It is a "prudent and pragmatic thing to do", the source said. TUC general secretary Frances O'Grady said the multi-billion pound project was needed to deliver thousands of jobs and needed 'the green light as soon as possible'.

Business

Trump endorses Paul Ryan after praising his Republican primary opponent

But by Friday, the latest spat between Trump and Ryan seemed to be over - and Ryan headed toward an easy primary win - when Trump endorsed the Speaker at a Green Bay rally . "Welcome to Wisconsin, Mr. Trump, but let's get something straight", Wisconsin's Assembly Speaker Robin Vos wrote in an open letter to his GOP colleagues ahead of Trump's arrival.

Business

Hillary Clinton accepts Democratic nomination; slams Donald Trump's warnings

But you know what? Trump, 70, sent out a flurry of comments on Twitter on Friday morning lambasting media coverage of the speech as "a joke", calling the address "very long and very boring" and accusing Clinton of wanting to shut down "coal mines, steel plants and any other remaining manufacturing".

Business

Mobileye Shares Down on News That Tesla Contract Will End

Some have speculated that the rift between the two companies may be rooted in the fatal May 7 accident involving a Tesla Model S that crashed into a tractor-trailer. Mobileye achieved its first big market success by supplying the chips and software for Tesla's Autopilot system. The system, however, is meant to have the driver with his hands on the wheel at all times.

Business

Tesla Set to Buy SolarCity for $2.6 Billion

Elon Musk announced back in June that Tesla wished to purchase solar power company SolarCity . According to Tesla, the deal is expected to close in the fourth quarter of 2016. After comprehensive due diligence in consultation with independent financial and legal advisors, the independent members of the Tesla and SolarCity boards of directors approved this transaction.

Business

Bank of England Cuts Interest Rate to 0.25%

Carney had to pointedly warn banks they had "no excuse" not to pass on the cut in interest rates to consumers. Interest rates were cut to a record low of 0.25%, which should reduce mortgage repayments for many homeowners and make it cheaper for companies to borrow.

Business

Secret's out: Team USA's cruise ship discovered

DeMarcus Cousins added 17 points and Paul George 15 for the USA, which is a heavy favorite to win a third straight gold and won't change any opinions after this performance. "But it has more options", she said. China is placed in Group A , the "Death Group", along with US, 2015 FIBA Oceania champion Australia, 2015 FIBA Americas champion Venezuela , France and Serbia, two teams through Olympic qualifiers.

Business

Jobs Added in July, Unemployment Holds at 4.9 Percent

The Labor Department announced on Friday that the economy added 255,000 jobs to payrolls in July - a figure that's much higher than economists' predictions. Republican presidential nominee Donald Trump's campaign responded to the jobs report , saying that America was in the middle of the worst "recovery" since the Great Depression.

Business

Clinton's lead over Trump slips to 3 points

In fact, Comey had concluded that Clinton was "extremely careless" with classified emails. The Democratic convention also showed extremism when Ilyse Hogue, president of NARAL Pro-Choice America, proudly shouted out about her abortion to a cheering crowd and loud applause.


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