Business

Trump tells Canada, Mexico, he won't terminate NAFTA treaty: White House

Many critics of NAFTA said they were deeply disappointed. "I will", Trump said. If the Trump administration had pulled the United States from NAFTA, it would not have been the first trade agreement to suffer via an executive order. While the president has backed away from his pledge to cancel the North Atlantic Free Trade Agreement (NAFTA), he's still itching to renegotiate the deal.

Business

The Trump administration continues its war on net neutrality

The order reclassified internet service providers (ISPs) under Title II of the 1934 Communications Act, which allowed the agency to regulate ISPs as if they were antique, rotary-dialed phone companies, and led to less investment and innovation.

Business

January/March economic performance worst in 3 years, AP reports

Weaker growth is partly due to persistent measurement issues, which have caused the government to underestimate growth in the first quarter for many years - and reflected poorly on other presidents in their first quarter in office. Britain's powerhouse services sector, which accounts for 78% of the United Kingdom economy, put downward pressure on overall growth after expanding by 0.3% between January and March this year, slowing from 0.8% between October and December of 2016.

Business

After US warns N.Korea 'military action' on table, Pyongyang tests missile

The Carl Vinson arrived in the Sea of Japan and kicked off a joint drill with the South Korean navy on Saturday, hours after North Korea launched a ballistic missile in apparent defiance of the US. "He learns from every single attempt, and he gets knowledge, and he gets intel". "And he takes those lessons learned and just churns them right over into the next one".

Business

Manchester United 1 Swansea 1 - Theatre of Nightmares

Jose Mourinho also suffered injuries to defenders Luke Shaw and Eric Bailly but the United manager said he had "zero criticism" for his players. As Mourinho has said a few times, he needs players back from injury as quickly as possible.

Business

Scottish Conservative leader Ruth Davidson said the SNP had been in chaos

Susan Aitken, co-convener of the SNP's council election campaign, said: "It is clearer than ever - a vote for the SNP this Thursday is a vote to back vital local services and investment in our communities and a vote against further Tory austerity".

Business

$1 trillion deal reached to fund gov't through September

The package doesn't include any funding for President Trump's planned wall along the U.S. -Mexico border or a deportation force, according to a senior congressional aide. GOP leaders eager to focus on health-care and tax overhauls bowed to Democratic demands to eliminate hundreds of policy restrictions aimed at curbing regulations, leaving the Trump administration with few victories.

Business

Claims about Trump's tax plan don't hold up

Consistent with the Trump campaign's position, the proposal also would repeal the alternative minimum tax, the estate tax, and the Affordable Care Act's 3.8 percent tax on net investment income. "The proposal is a positive development in passing comprehensive tax reform for the first time in over 30 years", the association said in a statement.

Business

Pence, on USA carrier, pledges to defend Asia

US Vice President Pence held talks with Japan's PM Abe about PyongyangUS Vice President Mike Pence is now on his 10-day Asia-Pacific tour. They say it fails to take into account the complex patterns of global trade, pointing out that the USA has run big deficits during periods of strong economic growth.

Business

World oil prices edge down over expected climb in U.S. output

The incessant rise of rigs has led the Energy Information Administration to upgrade its U.S. oil production forecast for 2018 from 9.73 million barrels per day (bpd) in its March report to 9.9 million bpd in its latest report. The same report also mentioned that Iranian oil minister Bijan Zanganeh said that most oil producers support an extension of output cuts by OPEC and non-OPEC countries including Iran.

Business

Google CEO Sundar Pichai doubled income at almost $200 million in 2016

Speaking to Reuters , analyst Colin Gillis of BGC Partners said: "For a company of Google's size to post the growth that it has, is just a testament to the quality and usefulness of the products they make". During his call with Wall Street analysts, CEO of Alphabet Sundar Pichai said that the company's excellent properties such as Search, Maps, Google Play and YouTube are made for today's mobile world, where people are actively interested and engaged.

Business

Facebook Finally Has A Virtual Reality Product

Facebook is also investing more in games. Augmented reality is the technology used by apps like Pokemon Go that mix reality with the virtual world. Plus, there are plenty of other ways for people to communicate from a distance without a headset. Facebook is also organizing them in a new Discover area so they won't take up a lot of space in a user's Messenger app but can be searched for or browsed through.

Business

Columbia River to hit flood stage again

Flash flooding is VERY DANGEROUS. Between 3 and 6 inches of rain is expected fall along Interstate 55 as far south as Bloomington and in the areas to the east, including much of northeast IL and northwest in, the weather service said. Further downriver at Collinsville, the Caney enters flood stage at about mid afternoon on Saturday and is expected to crest at 32.5 feet during the early morning hours on Monday .

Business

Facebook finally makes a virtual reality world

On the first day of Facebook's F8 developers conference , Mark Zuckerberg announced the launch of the Camera Effects Platform, a tool combining different technologies which enables virtual elements to be inserted into everyday situations via a smartphone's camera.

Business

Queen Elizabeth II Turns 91

On September 9, 2015, she became Britain's longest-reigning monarch, passing her great-great-grandmother Queen Victoria. Artillery gun salutes in London's Hyde Park and at the Tower of London will mark the occasion although the queen , who normally spends her birthday privately, has no formal engagements planned herself.

Business

Troubles for Trump as U.S. consumers lose their mojo

On a almost daily basis, the president brags about how much he's improved economic confidence and brought new investments to the United States. "Typically there's a high correlation between sentiment readings and what transpires by way of spending...but in the first quarter, it didn't manifest quite the same".

Business

Oil slides more after USA settlement on API inventory report

On Wednesday, crude prices tumbled more than 3.5 percent as US government data showed domestic crude stocks fell less than expected in the latest week and gasoline stocks posted a surprising 1.5-million-barrel build. Thirteen members of the Organisation of the Petroleum Exporting Countries (OPEC) and 11 non-OPEC members agreed to cut production by about 1.8 million barrels a day to prop up oil prices in December previous year.

Business

United Kingdom parliament votes on snap election in Brexit's shadow

When asked in an ITV television interview whether Corbyn was a realistic candidate as prime minister, Labour lawmaker Helen Goodman said: "I don't think that this election is about changing the government". Other political figures across the area have also responded to Mrs May's shock announcement. Theresa May's Conservatives now hold 330 of the House of Commons seats while Labour has 229.

Business

Alphabet Shares Rocket to All-Time High

To be sure, Google's cloud venture is still much smaller than market leader Amazon .com Inc's Amazon Web Services and Microsoft Corp's Azure. Google parent company Alphabet Inc delivered its first-quarter earnings for the year on Thursday that met analysts estimates sending its shares up by more than 4% during the after-hours trading.

Business

US economic growth weakened to 0.7 per cent in first quarter

Those who expected the change in White House administrations to produce a burst of optimism that would fuel first quarter growth will find themselves disappointed in today's advance estimate of GDP growth - and so will most everyone else. Government delays issuing income tax refunds to combat fraud also curbed consumer spending. But with savings rising to US$814.2 billion from US$778.9 billion in the fourth quarter, consumer spending is likely to pick up.

Business

U.S. growth hits three-year low at start of 2017

However, the pedestrian growth pace for the first quarter is not that true of a picture of the health of the economy. In addition to weaker consumer activity, the first-quarter slowdown also reflected a cutback in restocking of store shelves.

Business

Australia unveils tougher citizenship process in migration crackdown

On Tuesday, Malcolm Turnbull, Australian Prime Minister announced abolition of its visa program called 457 which allowed businesses to hie foreign workers for a period of up to four years . The new temporary visa requires applicants to have work experience, a high standard of English skills and a criminal check. Majority of the tweets - under the hashtag #AustralianValues - mock the stereotypes of Australian culture, and others angrily discuss hypocritical elements of the new ...

Business

Is Trump tax reform a step forward or backward?

Treasury Secretary Steven Mnuchin has asserted a few times that the tax plan will pay for itself by generating a lot of growth because the proposed changes will spur investment and create jobs. Reduced taxes on the wealthy. The way business tax cuts spur job growth is by promising investors that they will enjoy a lower tax rate on the income from new investments they make.

Business

President Trump: "Big Announcement" Coming on Tax Reform

Earlier, Trump told the Associated Press that businesses and individuals will receive a " massive tax cut " in the plan. Instead, a senior administration official said the President would only release the "parameters" that Mr Trump expected a tax plan to follow in the long congressional debate that surely would follow.

Business

Production deal 'restoring balance' to oil

This follows earlier reports by Kuwaiti media that the crucial agreement by producers to cut their output would be extended when they meet again next month. "I see the oil market pointing upward and expect it to continue improving", he added. Reuters reported that oil prices have gained support from the pact but a supply glut has been slow to shift, limiting their increase.

Business

GDP Grew Just 0.7 Percent In First Quarter Of 2017

The resulting rise in economic growth is expected to compensate for the loss in tax revenue - although the rationale is not widely accepted by experts. But it remained unclear how many recent economic events could be credited to - or blamed on - the president. The Economic Policy Institute (EPI) warns against raising rates given the lackluster growth.

Business

Oil falls to two-week low as gasoline supply rises, dollar gains

Global benchmark Brent crude futures were down 26 cents at $55.10 a barrel at 0803 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, or 0.2 percent, to $50.56 a barrel. While Iran fueled hopes that OPEC and non-OPEC oil producers could extend their output cuts beyond the six-month agreement, Saudi energy minister Khalid al-Falih said it was too early to discuss an extension.

Business

Time Inc. backs away from plans to sell itself

We strongly believe in the future and potential of this company. The company's stock was down almost 20% premarket. That strategic plan includes a focus on continued growth in digital audiences and digital revenue, led by branded/native content solutions and video, expanding and diversifying revenue and content through brand extensions, including via TV, OTT, events, licensing, new products and strategic partnerships, as well as a focus on cost management and possible asset deals for the ...

Business

Economic Growth Hit Three-Year Low During First Quarter

The first quarter advanced estimate is based on source data that is incomplete or subject to further revision, and will be followed by a second estimate released in May. "Household spending was held down by a drop back in motor vehicle sales from a near-record high at the end of previous year and the unseasonably warm winter weather, which depressed utilities spending", said Paul Ashworth, chief United States economist at Capital Economics .

Business

Trump's 1st economic report card: Slowest growth in 3 years

After contributing to GDP growth for two straight quarters, inventory investment was likely a drag in the first quarter. The latest economic data indicate the USA economy is growing at the slowest rate in three years. University of MI economist Justin Wolfers on Twitter concurred with the White House's assessment that first-quarter GDP quarter is historically weak.

Business

Trump's 15% business tax is lowest for big economy

But the plan offers no details on how Trump would offset these massive tax cuts, potentially adding trillions of dollars to the national debt over the next decade. Let's see whether a Treasury Department committed to count the supposed gains from tax-reform-induced growth in the economy are able to hear the loud gurgle of revenues that under their plan would drain away through tax avoidance.

Business

Why Donald Trump's Tax Plan Can't 'Pay for Itself'

The benefit is largest for affluent people living in states that impose high income tax rates, which are much bluer than average. "President Trump's tax plan is short on details and long on giveaways to big corporations and billionaires", Democrat and leader of the House of Representatives Nancy Pelosi said in a statement .

Business

West Ham star disappointed with Slaven Bilic

Marc Muniesa went into the book for a late sliding challenge on Cheikhou Kouyate as West Ham grew into the game, and the Spaniard was perhaps lucky to avoid a second yellow card just moments later for bringing down the same player midway through the Stoke half.

Business

Trump signs order to expand offshore oil, gas drilling

Despite Trump's assertion that the nation needs to wean itself of foreign oil, USA oil imports have declined in recent years as domestic production boomed, mainly through improved drilling techniques that opened up production in areas once out of reach.

Business

Google profits surge with advertising boom

Net income for the quarter was $5.42 billion, up from $4.2 billion a year ago. The company said the number of paid clicks on its properties rose a whopping 53 percent year-over-year, while the rise on its partners' sites was a small fraction of that, at 10 percent.


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