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Business News

Global Business News for 13 Aug 2019

John Bolton Says the U.S. IsNegotiating a post-Brexit trade deal with the U.K. "in pieces" would help speed the process, he says
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Boston Startup Signs UpSingleCare, headquartered in Boston, offers a savings card for prescription drugs that has attracted millions of users in just four years.
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Hong Kong protests play intoWall Street's summertime slump continued as dramatic protests in Hong Kong dimmed hopes that the US will come to a trading truce with China. The Dow Jones industrial average fell 391.00 points -- or... 1.5% -- Monday, with losses accelerating late in the session, to close at 25,896.44. Monday's Dow dip followed news that Hong...
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Owing to a churn in India's telecom sector, the company's share of domestic business dropped to 27% in Q1FY20 as compared to 31% a year earlier
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Canada Performing Well OnOTTAWA — An international review of Canada’s economic immigration system suggests the country is doing well when it comes to how it selects and welcomes foreign workers. But the report from the... Organization for Economic Co-operation and Development(OECD) suggests that some tweaks would be helpful to ensure the needs of the economy are actually being met. The OECD study comes as Quebec debates whether to slash the number of immigrants it accepts, and ahead of a federal election in which the immigration file is expected to be a major point of discussion. The organization reviewed how Canada recruits foreign labour —from the Express Entry program that sees the government effectively “invite” people to come to Canada permanently, to programs geared towards temporary workers. Their...
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U.S.-China Trade War SnowballsDespite the stock market's sudden rally Tuesday on news the United States would delay implenting its promised tariffs on Chinese goods, most investors are becoming used to the idea that relations... between the world's two largest economies are likely to become more fraught before they improve.
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Caesars executive fired afterCasino chain Caesars has fired a top executive who was accused of terminating an underling who complained about his "making out" with another underling. Caesars terminated Regional President Kevin... Ortzman after the lawsuit, filed by Jocelyn Agnellini Allison, triggered an internal investigation, two sources said. Ortzman, who oversaw the company's Bally's, Caesars and Harrah's Resort...
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Kaiser Permanente workers inA swath of Kaiser Permanente workers in California have voted overwhelmingly to approve a strike that could draw in more than 80,000 employees of the healthcare giant across the nation, according to... the coalition of unions representing them.
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With the agency mulling changes to the "Qualified Mortgage" regulation, mortgage lenders say little-known standards for how they document a borrower's income would be a good place to start.
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Trump's Trade Wars Are HurtingTrump's trade wars are exacerbating problems in the U.S. agricultural sector. The downturn is being felt in state revenues, agricultural loan performance and corporate earnings. Banks with loan... exposures to the Midwest need to review their portfolios closely.
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The next Jeffrey EpsteinWith opulent homes, a Caribbean island and a private jet to Jeffrey Epstein's name, the battle to claim his assets is on.
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Verizon to Sell Tumblr to WordPress.com Owner

Wall Street Journal - 13 Aug 2019 01:04
Verizon to Sell Tumblr toVerizon has agreed to sell its blogging website Tumblr to the owner of popular online-publishing tool WordPress.com, unloading for a nominal amount a site that once fetched a purchase price of more... than $1 billion.
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UK retailers demand businessMarks & Spencer and other chains say tax changes needed to save jobs and communities More than 50 major UK retailers, including Marks & Spencer, Harrods and Iceland, have demanded tax cuts from the... government to safeguard the future of the high street amid intense pressure from online rivals. In a letter to the chancellor, Sajid Javid, the bosses of some of the nation's biggest retail chains called for an urgent reform of the business rates system, which taxes companies based on the buildings they occupy.
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How To Win The Inner BattleI've noticed that revolutionary change leaders bring certain "raw materials" to the table that enable them to lead change well: voice, ideas, passion, discontent, and conviction. But with these come... an inner battle to balance them. Here's how to win that battle that can never be quelled.
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Home Cooking for Profit? Sure, Just Not in New Jersey

The New York Times - 13 Aug 2019 16:58
Home Cooking for Profit? Sure,A nationwide boom in home-based food businesses has bypassed the Garden State, the only state that still bars such sales. But home bakers are fighting back.
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U.S. stocks surged almost 2% on Tuesday as the Trump administration said it would delay 10% tariffs on some Chinese products, including laptops and cell phones, driving a 5% surge in shares in iPhone... maker Apple Inc.
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Apple leads Wall Street surge as US delays on tariffs

The Economic Times - 13 Aug 2019 16:39
Tariffs would also be delayed until Dec. 15 on "computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing."
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Gold Pares Early Advance as Trade Hopes Boost Risk Assets

Wall Street Journal - 13 Aug 2019 16:34
Gold prices erased an early rally after the U.S. Trade Representative said it would delay some tariffs on Chinese imports and China's Xinhua News Agency reported that officials from both sides plan to... continue talks in two weeks.
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Recent policy had provided for a 3-year jail term for violations
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US to delay China tariffs onThe USTR#39;s action was published just minutes after China#39;s Ministry of Commerce said Vice Premier Liu He conducted a phone call with US trade officials.
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Investors Continue To FretThis morning, investors seem to be eyeing the Treasury market as the spread between the 2-year and 10-year Treasuries nears an inversion.
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Look Under The Hood: TheFor the Vanguard Mid-Cap Growth ETF, we found that the implied analyst target price for the ETF based upon its underlying holdings is $163.05 per unit.
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Trump backs down again, delaysThe Trump administration said it would delay many of the threatened 10% tariffs on $300 billion in Chinese goods that were set to take effect Sept. 1.
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George Saunders Reads "Elliott Spencer"

The New Yorker - 13 Aug 2019 15:54
Deborah Treisman hosts the author George Saunders, who reads his short story "Elliott Spencer," from the August 19, 2019, issue of The New Yorker.
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Neeraj Bahl to be new MD, CEOGunjan Srivastava has been elevated as the head of BSH Region Asia-Pacific headquartered at Singapore
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