Money

Wall Street Flat As Investors Pause After Record-Setting Day

KEEPING SCORE: The Dow Jones industrial average fell 13 points, or 0.1 percent, to 18,599 as of 10:15 a.m. The S&P 500 , an index of 500 blue chip U.S. Valeant VRX.N fell almost 9 percent in heavy trading after the Wall Street Journal reported that USA federal prosecutors had opened a criminal investigation on the drugmaker.

Oil rally continues as Brent tops US$50 per barrel

Benchmark North Sea Brent has risen 20 per cent from a low in early August on news the Organization of the Petroleum Exporting Countries and other key exporters will probably revive talks on freezing output levels when they meet in Algeria next month.

Meet the woman tapped to help save Trump's campaign

Donald Trump shook up his campaign for the second time this summer, appointing pollster Kellyanne Conway as his new campaign manager on Wednesday. "There is no new Donald Trump". Her former Cruz campaign colleague Rick Tyler (who is affiliated with #NeverTrump independent candidate Evan McMullin) suggests, however, that Conway's real utility is as a professional pollster who can scratch Trump's itch for public-opinion morsels pre-masticated to make him feel like a victor.

Cisco Systems to cut 14000 jobs

Last summer, the network equipment manufacturer said it was going to invest more than $1bn in United Kingdom digital education and skills projects over three to five years. "They need different skill sets for the software-defined future than they used to have", CRN quoted one source as saying. Reports earlier in the day said Cisco was likely to cut as many as 14,000 jobs.

EPA Strengthens Greenhouse-Gas Efficiency Goals for Big Rigs

This rulemaking has a sharp freight transportation and supply chain focus, considering that heavy-duty trucks represent the second largest segment and collectively account for the largest increase in US transportation in terms of emissions and energy use, said DOT and EPA .

Russia, Turkey agree to mend broken ties

Moskovskij Komsomolets wrote the "black days" between Russian Federation and Turkey had ended. Though the meeting between the two leaders had been in the making for months - facilitated by the Turkish businessman Cavit Çağlar and mediation from the President of Kazakhstan, Nursultan Nazarbaiev - the fact remains that it was Erdogan's first visit overseas since the failed coup in mid-July, when Putin and Nazarbaiev both expressed their support for Erdogan before his North Atlantic Treaty ...

Trump Meets With Gold Star Families Amid Khan Controversy

One thing Trump and Khan might be able to agree on is that US hawkish foreign policy in Muslim countries has done more harm than good. "She's a very deceitful person, she lies, she cheats, no I don't think that's too far at all", Trump said .

Tesla Posts Another Loss, but Says on Track for Future Deliveries

Tesla managed to increase production capabilities, which has been an issue for the company. The automaker said that it has completed the design for the Model 3 and that the gigafactory remains on target to support volume production of the Model 3 in late 2017.

Rajan: Had fantastic tenure; results to be visible in 5-6 yrs

The bank last cut rates by 25 basis points in April. He hoped that the next interest rate decision will be taken by the proposed Monetary Policy Committee. The government is yet to announce Rajan's successor with current RBI deputy governor Urjit Patel reportedly on the shortlist, along with economist Subir Gokarn, who served as RBI deputy from 2009 to 2012.

Facebook rebuffs ad blockers, enhances its own ad controls

They will only impact people who visit the social network on a desktop computer, an increasingly rare group-over half of the company's 1.71 billion monthly users now visit the site exclusively on mobile devices. Fueling the rise of ad-blocking software: A growing backlash among consumers who are tired of being bombarded by ads that obscure content, cause pages to load slowly, drain batteries, consume too much mobile data or pose risks to their security or privacy.

How Hillary Clinton is Preparing for the Debates

Collins said she also was dismayed that Trump minimized the heroism of Sen. And from the Washington Post: "Seeking to put the most hard stretch of his campaign behind him, Republican presidential nominee Donald Trump used a major economic speech Monday to reach out to two voting blocs that remain critical to his faltering chances of winning in November: traditional fiscal conservatives and disaffected blue-collar workers".

China warns UK over 18 bln stg nuclear power deal - FT

May's predecessor David Cameron, who quit after the June referendum vote to leave the European Union, made strong ties with Beijing central to his economic policy. The agency said it could not understand the "suspicious approach that comes from nowhere, to Chinese investment". But Nick Timothy, May's influential joint chief of staff, also said past year that security experts were anxious the state-owned Chinese group would have access to computer systems that could allow it to shut down ...

GST will reduce tax evasion, improve business environment

The government is aiming to get the two legislations passed in the winter session of Parliament. Thanking the Congress and all political parties for their support in passing the bill, PM Modi said national interest was higher than political interest and that the GST Bill was one big step towards the pursuit to fight and end tax terrorism.

Major resort operator buying largest North American ski area

Whistler Blackcomb has been in operation since 1966 - when it started with just a four-person gondola - and has grown to be an outstanding North American ski retreat for people from around the world. The federal government recently lifted visa requirements for Mexicans visiting Canada. The new deal is expected to close in the fall. Vail Resorts already owns Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area ...

Trump revamps economic plan, promises tax cuts to 'jumpstart' U.S. economy

Clinton running mate Tim Kaine tweeted Monday, "Donald Trump is only in it for himself - just look at his economic plan". "When we do that, we're comfortable that we can get the agenda and the narrative of the campaign back on where it belongs, which is comparing the tepid economy under [President Barack] Obama and Clinton, versus the kind of growth economy that Mr.

Mexico overcomes early scare, beats Fiji 5-1 in men's soccer

Both Iraq and Denmark were unperturbed by the 80 degree temperatures and set out to play open and attacking football at the 72,000 capacity National stadium . And just as in their opening stalemate against South Africa , Brazil were booed from the field in Brasilia on Sunday as they paid for their profligacy in front of goal.

Dubai airport operating with one runway

The crew told air traffic controllers that they wanted to "go around" - a common procedure calling for pilots to raise the landing gear and apply full thrust to attempt another landing, the site reported. There was no immediate confirmation on whether the landing gear was extended when the aircraft touched the ground. Planemaker Boeing said in a statement it was monitoring the situation in Dubai and it would be working with Emirates to gather more information.

23 die in India bridge collapse

No bus or auto has yet been recovered from the river. Officials said 22 bodies have been recovered and identified so far, it said. However, the chances of finding any survivors have become less. NDRF groups have come to and doing search operations, the Maharashtra CM included. Heavy rains hampered the search for the missing people and vehicles.

Obama's Library a Tough Choice Between 2 Historic Parks

President Obama and First Lady Michelle Obama announced last week that they had chosen the city's historic Jackson Park as the library site, calling it "a community we call home and that means the world to us". Officials have estimated the library will cost more than $500 million in private donations but could be open by 2020. The site is located along the shores of Lake Michigan close to the University of Chicago, where Obama taught for 12 years at the law school.

Oil Settles Below $40 For First Time Since April

Last week, commercial crude oil supplies were up 0.3 per cent at 522.5 million barrels, 14.8 per cent more than was recorded at the same point a year ago. The price of US crude dipped under $40 this week for the first time since April . Inventories slid by 1.34 million barrels and gasoline stockpiles fell, the American Petroleum Institute was said to report.

Oil down 3 percent on worry over OPEC output, US rig count

Brent crude, the global benchmark, fell 2.11 per cent to $42.61 per barrel this afternoon, having risen as much as 0.74 per cent to $43.85 earlier in the day. The biggest USA energy companies followed Royal Dutch Shell Plc and BP Plc in posting lower profits as crude's collapse continued to weigh on the industry.

Roger Ailes Pushed Out of Fox for Sexual Harassment, Murdoch Praises Him

He has run Fox News since it launched in 1996 and is credited with reshaping the American media and political landscape. Murdoch was full of praise of Ailes. Fox News has been one of the most reliable sources of victim-blaming rhetoric , with commentators who are always ready to suggest that women who make claims of assault or abuse either are lying or were asking for it.

Most European banks deemed healthy

In March, the bank's core tier 1 ratio dropped to 10.7 percent from 11.1 percent, which analysts say means it would need to raise at least €10 billion to avoid failing its regulatory requirements in the next few years. Nevertheless, this was up to 9.2 percent by the end of the test, a drop of 340 basis points, equivalent to 226 billion euros of capital. The 34 listed banks in today's stress tests have lost an average of 33 per cent of their value since the 2014 exercise , suggesting that ...

SABMiller recommends revised AB InBev takeover offer

With that final approval, the company has met all preconditions, and the deal is expected to close this year, AB InBev said in a statement. The SABMiller board has recommended shareholders accept the Belgian brewer's all-cash offer of £45 a share, up from its earlier price of £44, valuing the London-listed firm at around £79 billion.

NextEra to buy bankrupt Energy Future and its stake in Oncor

During the same period in the prior year, the business posted $1.56 EPS. The company's revenue was down -12.4% compared to the same quarter previous year. Almost eight months after its hopes of acquiring the electricity transmission and distribution arm of bankrupt Energy Future Holdings appeared to be dashed, NextEra Energy (NEE) has returned to claim victory.

China issues regulations for online ride-hailing services

American rideshare company Uber and its Chinese rival Didi Chuxing are cruising on the good news today that China has taken a step towards making their businesses more legal. Didi, which said it's setting aside 100 million yuan to integrate online ride-hailing and taxi services through a strategic partnership of regulators, taxi companies and drivers, said the rules are a "positive first step".

Chelsea Clinton Open to 'Daughters Summit' With Ivanka Trump

Following reports Russian Federation hacked Democratic Party emails, Trump said he'd like to see Moscow find the thousands of emails Clinton deleted from the account she used as secretary of state. A friendship that may get very awkward following Chelsea Clinton's DNC speech, Hillary Clinton's daughter is actually friends with Ivanka Trump , one of the children of her mom's current rival, Republican candidate Donald Trump .

Amazon Profit Up, Tops View

The company with the long-time reputation on Wall Street as a money-loser just revealed a record-setting quarterly profit for the third straight quarter. This fall, several original series from Amazon Studios will premiere exclusively for Amazon Prime members, including seasons of The Man in the High Castle , Transparent , Mozart in the Jungle , Good Girls Revolt , Goliath and The Grand Tour .

SABMiller suspends integration work for beer merger

The company said the new terms value SABMiller at about 79 billion pound. But the pound has plunged by more than 10 percent since the June 23 referendum calling for a British exit from the EU. "The only regulatory review outstanding is approval from China and thus the merger to create this brewing behemoth would now seem a foregone conclusion", said Andrea Williams, senior fund manager at Royal London Asset Management, an AB InBev investor.

Apple share price leaps on earnings and iPhone sales beat

Apple said it sold 9.95 million iPads during the quarter, down 9%. Shares rose 5.1 percent to $101.61 in after-hours trading. Apple Inc's AAPL. O iPhone sales fell for the second straight quarter, although the 15 percent drop was less than feared.