Business
U.S. GDP Comes in Below Expectations at 0.7 Percent
The GDP or gross domestic product, the broadest measure of all goods and services produced in the country, increased at a disappointing 0.7 percent annual rate, according to new government estimates released Friday. Many economists are more skeptical. The annualized first quarter growth rate of 0.7% was less than the 1% analysts had been expecting, and a slowdown from the 2.1% growth rate seen in the final quarter of past year.
Business
Trump says he's willing to consider raising gas tax
Since that year, revenue from the taxes has dropped because of inflation and that the average fuel economy of a passenger vehicle increased by 12 percent, according to the US Department of Transportation. Asked about Trump's remarks about the gas tax on Monday, Senate Minority Leader Chuck Schumer declined to weigh in. The bill has been introduced in New York, Massachusetts, California, Rhode Island, New Jersey and Virginia.
Business
US GDP growth slows to a crawl in Q1 2017
Private inventory investment subtracted 0.93 percentage point from the growth in the quarter, compared to a contribution of 1.01 percentage points to the growth in the previous quarter, said the Commerce Department. The pace of USA economic growth in 1Q17 stood at 0.7pc year-on-year, according to a report released by the Commerce Department on Friday. The Associated Press reported economists attributed the sharp slowdown in consumer spending to shrinking utility bills due to warmer ...
Business
Trump wants to slash taxes on businesses
He argued that the difference in revenue that would be brought in by growth of 1.8 percent or growth of 3 percent was "staggering". The concept was popularized as "trickle-down" economics during the Reagan years. But he faces an enormous fight among clashing vested interests as Congress tries to rewrite the tax code. No one - maybe including his staff, apparently - knows for sure what the details of the president's forthcoming tax plan will be, but such confusion and lack of coordination is ...
Business
Google parent Alphabet's profit up 29 percent on strong ad sales
Alphabet's " other bets " division, which includes Nest, Fiber and Verily, did make more money year-over-year, with a $244 million revenue compared to $165 million this time last year. 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
Crude Steadies After Overnight Slide on Supply Concerns
Analysts said they expected crude oil inventories to have fallen by around 1.5 million barrels last week. The dollar index, which tracks the greenback against six major peers, was up 0.23 percent at 99.731 in late trading on Wednesday. Benchmark Brent crude has gained about 19 per cent since the agreement, which took effect in January, and was 17 cents higher at US$55.06 (RM241) a barrel at 10.22am in London.
Business
ANZ statutory profit rises 14% in 1H2017
ANZ says all of its business units performed well in the first half due to the simplification of the business. The bank said it already uses agile to deliver around 20 per cent of technology and digital projects including initiatives such as Apple Pay.
Business
FCC Chairman Sets Public Course for Making New Internet Regulations
Ed Markey (D-Mass.), a member of the Senate Commerce Committee. Those rules ensured that the internet would remain a level playing field for everyone, making the internet America's foundation for information and commerce and communications.
Business
Bears' Pursuit of Mitchell Trubisky Detailed in New Story
That couldn't have been more wrong. Everyone knows the Texans have a need at the quarterback position as Tom Savage isn't viewed as a long-term solution. He might back up Glennon at first, though Chicago is counting on him to develop into the star quarterback the franchise has lacked so many seasons with his arm strength and quickness.
Business
Bottas takes his first F1 victory with Russian win
Russia's Daniil Kvyat from Scuderia Toro Rosso completed his home Grand Prix in the 12th place. The double world champion did not even make it to the start of the race after he parked his auto at the entry to the pit lane on the formation lap following a failure with his Honda engine.
Business
North Korea fires missile, defying US push for new sanctions
Trump has repeatedly called on China, North Korea's neighbor and largest trading partner, to punish the regime in Pyongyang, and has warned Xi that if he doesn't act, the United States will. "We'd love to solve things diplomatically but it's very hard", he said. His administration recently dispatched a carrier group to the Korean Peninsula and pushed forward on adding a USA -backed missile defense system in South Korea over the objections of China.
Business
Advanced Micro Devices (AMD) Earnings: What To Expect
The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink . While taking a look at financials, we can look at a number of key indicators about Advanced Micro Devices, Inc .
Business
United Airlines CEO Oscar Munoz won't be promoted to chairman
An argument between a passenger and flight crew members was recorded and posted to social media . That's what just fired me up, so that was it. The woman, Maciel said , was drunk, smelling of alcohol when she boarded the flight and knocking back four more drinks while in air.
Business
British MPs approve PM May's call for snap election
Professor Martin Smith, head of the University of York's Department of Politics, said: "With a large Conservative majority, the government will be able to get through any Brexit deal". Jeremy Corbyn said a Labour government would stop Mrs. Britain's next national election is now scheduled for 2020, a year after the scheduled completion of two years of European Union exit talks.
Business
American Gods Episode 1 The Bone Orchard
It's an inevitable comparison to the approach of co-showrunner Bryan Fuller (Hannibal ) and his approach to Neil Gaiman's 2001 novel American Gods , a dense, thoughtful meditation on everything from humanity's need for idolatry to the lore of the American road trip.
Business
Glenview Capital Management LLC Purchases New Stake in Apple Inc. (AAPL)
Apple Computer now has $752.93B valuation. American National Bank now owns 51,678 shares of the iPhone maker's stock worth $5,842,000 after buying an additional 4,247 shares during the last quarter. The firm has "Overweight" rating by Barclays Capital given on Friday, July 15. The firm has a market cap of $753.67 billion, a P/E ratio of 17.24 and a beta of 1.26.
Business
Latest GDP report is an economic wake-up call
This residual seasonality means it would be a mistake to reach a conclusion about what the first-quarter report means for the rest of the year. The economy grew at a 2.1 percent pace in the fourth quarter. Trump said he could double growth to 4 percent, though since then, Treasury Secretary Steven Mnuchin has said the goal is to achieve GDP growth of 3 percent or better with a combination of lower taxes, deregulation and better enforcement of trade agreements.
Business
Alphabet Shares Hit New All-Time High on Strong Earnings
One analyst said that for a company the size of Google to post growth it did, is testament to the usefulness and quality of its products. Certain advertisers have curtailed their spending until they are convinced Google can prevent their brands from appearing next to extremist clips promoting hate and violence.
Business
NYC launches ferry service with Queens, East River routes
A ride costs $2.75, the same as the subway, and includes transfers. "A new era begins in New York City", Mayor Bill de Blasio said . Now in Hudson County, there is ferry service to Manhattan in West New York, Weehawken, Hoboken and Jersey City.
Business
FCC Chief Lays Out 'Net Neutrality' Rules Rollback
Some sources say his approach this week could simply be to propose doing away with the FCC's regulatory classification of internet service providers and solicit comments on how the agency can keep the net neutrality principles without that classification.
Business
Airbnb settles lawsuit with San Francisco over home-sharing rules
Airbnb will produce a platform for hosts to register with the city through its website. "This is a turning point when it comes to enforcement", Herrera said. Registration numbers from that office - or at least proof of a pending application - will be required for all San Francisco listings. Short-term rental companies have previously shown reluctance to help the city enforce the law.
Business
Predators take 2-1 series lead, beating St. Louis Blues 3-1
Louis. Nashville won, 3-1, in Game 3, taking a 2-1 lead in the best-of-seven Western Conference semifinal series on an afternoon when the Blues weren't almost competitive enough, according to coach Mike Yeo. So for third time in three games in the series, the Predators had the game's first goal. "I don't think we did, and that's why we won, to be honest".
Business
Trump signs bill to prevent government shutdown
The short-term bill, known as a continuing resolution (CR), extends fiscal 2016 government funding levels through next Friday. Republicans introduced a bill Wednesday to fund government operations at current levels for one more week, giving them time to finish negotiations with Democrats on the plan for the rest of the fiscal year ending September 30 .
Business
Embattled United CEO received US$18.7m in 2016 compensation
The Senate Committee on Commerce, Science and Technology said Friday that the airline and the Chicago Department of Aviation did not meet their Thursday deadline for providing an explanation about the altercation on United Express Flight 3411.
Business
White House officials offer conflicting details of Trump tax plan
The White House sought to build some momentum on Friday with an effort to examine and potentially dismantle some of Obama's tax and financial regulations. However, Mnuchin emphasized that he anticipates the tax system will be changed in 2017. He said Monday that Trump is "very determined" that the US can achieve sustained economic growth of 3 percent or greater, which would pay for the tax cuts along with "trillions of dollars" brought in from offshore havens.
Business
United Airlines reaches settlement with passenger dragged from plane
Dao's lawyer, Thomas Demetrio, said his client "has become the unintended champion for the adoption of changes which will certainly help improve the lives of literally millions of travellers". Those officers have been suspended with pay while the investigation is ongoing. Dao's lawyer had said in an interview with "Today" Monday morning that he planned to file a lawsuit in the case.
Business
New York City to Receive $61Mln Reimbursement for Trump Security Costs - Mayor
Members of Congress managed to agree on a spending bill-price tag is more than $1 trillion-that includes $1.5 billion in new border security but not an actual wall , plus $15 billion more for the Pentagon. Today, the mayor's office said it had cost the city $24 million. Trump moved to Washington on January 19. O'Neill has estimated that protecting the president's Fifth Avenue Xanadu costs the city up to $146,000 daily when its owner isn't in town-and more than twice that when he is.
Business
Oil prices fall on expected surge in USA shale output
United States gasoline stocks posted a counter-seasonal build of 1.5 million barrels, because of rising refining activity. OPEC and other producers such as Russian Federation agreed to cut output by almost 1.8 MMbbl/d in the first half of 2017 to drain a supply overhang that has persisted for nearly three years.
Business
How about renegotiating NAFTA as a treaty this time?
They called me. They said , 'Rather than terminating NAFTA, could you please renegotiate?' I like them very much, I respect their countries very much. "The only surprise was the quick reversal", said Gary Hufbauer, a senior fellow at the Peterson Institute and a top U.S. NAFTA expert. "They should reasonably be able to expect that others are also going to play by the rules", said Tom Vilsack, president and CEO of USDEC.
Business
ICC vote paves way for Ireland's promotion to Test cricket status
India will get US$293m and England $143m, while Zimbabwe will receive US$94m. The BCCI's opposition to revamped governance model was rejected 1-9, while its opposition to a proposed revenue model was struck down 2-8. According to an unnamed senior BCCI official present in Dubai , the ICC has not yet withdrawn its offer of $390 million - almost $100 million more than the $293 million which the BCCI is slated to get now.
Business
Reckitt Benckiser Group Plc 25.1% Potential Upside Indicated by Whitman Howard
The stock increased 1.34% or $0.67 during the last trading session, reaching $50.73. About 430,007 shares traded. Curtis Banks Group PLC (LON:CBP) declared a dividend on Thursday, March 23rd. Denver Advsr reported 0.01% stake. Its up 2.98% from 692,400 shares previously. Dunedin Enterprise Investment Trust PLC is a United Kingdom-based investment trust.
Business
Cities can sue banks under fair housing law
This ruling opens the door for the City of Miami to proceed with its lawsuit, which alleges that Bank of America and Wells Fargo discriminated against African-American and Hispanic homeowners in their mortgage terms and fees, leading to excessive foreclosures and loss of property tax revenue collected by the city, according to City Commissioner Francis Suarez, who spearheaded the decision to sue the banks.
Business
Lawmakers find common ground on $1T plan to keep gov't open
Trump had requested $30 billion more in military funds for this year after campaigning hard on a defense buildup during the 2016 election campaign". Republicans will be able to tout increases in defense and border spending, while Democrats will highlight a $2 billion increase in National Institutes of Health funding and year-round Pell grants, as opposed to grants only awarded twice per year.
Business
McDonald's Just Created a Fork Made of French Fries
McDonald's announced a new product that will be released Friday that will help you make a happy plate without getting your hands messy. "Will the Frork change your life?" The Signature Sandwiches are customizable, upscale burgers and chicken sandwiches that feature flavors like Pico Guacamole , Sweet BBQ Bacon and Maple Bacon Dijon .
Business
Twenty-First Century Fox in talks with Blackstone to buy Tribune
A source familiar with the situation confirmed that the companies were in talks, but said a bid may not materialize. Tribune Media, which closed Monday at 36.58, has a market cap of $3.2 billion. The reports of Fox ramping up its efforts to win Tribune's assets arrive as Sinclair is reportedly only a week away from solidifying its bid for Tribune.