Post

Stocks tumble around world as trade-war deadline approaches

Via AP Business NEW YORK (AP) — U.S. stocks slumped with other markets around the world Thursday after China said it would retaliate if the U.S. follows through with a plan to raise tariffs on Chinese imports. Trade tensions between the world’s two largest economies are dragging down stocks from Mumbai to Milan as the...

Post

US stocks down on tariff hike threats

Via Fox Business U.S. stocks opened lower Thursday as Wall Street braced for an escalation in the trade conflict between the U.S. and China, with both sides making tariff threats against one another, even as trade talks were set to resume late Thursday afternoon. China threatened to retaliate against the U.S. if President Trump goes ahead with his plan for a sharp increase...

Post

McDonald’s settles with former India partner, buys out Connaught Plaza Restaurants – report

Via Yahoo Finance BENGALURU (Reuters) – McDonald’s Corp’s Indian arm has reached a settlement with former partner Vikram Bakshi, acquiring full ownership in their joint venture Connaught Plaza Restaurants Ltd, the Economic Times reported on Thursday. The U.S. fast food chain was involved in a long-standing legal battle with Bakshi, claiming his company, which operated...

Post

Iraq Close To Signing Mega $53 Billion Oil Deal

Via Oilprice.com Iraq will soon finalize a large-scale, long-term deal for the development of oil fields in the South with Exxon and PetroChina. The 30-year contract will involve investments of US$53 billion and potential returns for Baghdad of as much as US$400 billion over its lifetime, Prime Minister Adel Abdul Mahdi told media this week....

Post

Chevron bows out of fight for Anadarko Petroleum

Via AP Business SAN RAMON, Calif. (AP) — Chevron won’t increase its buyout offer for Anadarko, cutting short a potential bidding war with Occidental Petroleum. Occidental challenged Chevron’s initial bid last month, offering $57 billion in cash and stock, including debt and book value of non-controlling interest. Chevron’s offer was worth about $50 billion by...

Post

Toyota, Panasonic to set up company for ‘connected’ homes

Via Reuters Finance Toyota Motor Corporation Operating Officer Masayoshi Shirayanagi shakes hands with Panasonic Corporation Senior Managing Executive Officer Makoto Kitano during their joint news conference in Tokyo, Japan May 9, 2019. REUTERS/Kevin Buckland TOKYO (Reuters) – Japan’s Toyota Motor Corp and Panasonic Corp said they plan to establish a joint company to develop “connected”...

Post

Beware Of The “Permanently High Plateau” Fallacy

Via Zerohedge Authored by Jesse Colombo via RealInvestmentAdvice.com, Last week, venture capitalist Chamath Palihapitiya said that central banks have virtually eliminated recessionsthrough their aggressive monetary stimulus programs such as quantitative easing (QE) and record low interest rates – “I don’t see a world in which we have any form of meaningful contraction nor any form of...

Post

Shares sink as U.S.-China trade talks go to the wire

Via Reuters Finance LONDON (Reuters) – World shares tumbled for a fourth day running on Thursday after a warning from U.S. President Donald Trump that a long-worked-on trade deal with China was in serious danger. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 7,...

Post

FTC urged by child advocates to investigate Amazon’s Alexa

Via AP Business Amazon met with skepticism from some privacy advocates and members of Congress last year when it introduced its first kid-oriented voice assistant , along with brightly colored models of its Echo Dot speaker designed for children. Now those advocates say the kids’ version of Amazon’s Alexa won’t forget what children tell it,...