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Business

Come August 27, the minimum price floor for a bottle or can of beer will be lowered to $1. "My friends we're going to do our part because a buck a beer is coming to a shelf near you". Whether or not the incentives work, don't expect draught beer from your favourite restaurant to offer $1 beer. The lower price won't apply to draft beer and won't include the bottle deposit.
  • House of Fraser plunges into crisis as rescue deal falls through

    House of Fraser plunges into crisis as rescue deal falls through

    Business

    But C.Banner has released a statement this afternoon confirming the company no longer intends to go ahead with plans to buy a 51 per cent stake in House of Fraser . "It is to be hoped House of Fraser resolves its funding issues successfully; but even when it has done this, and closed the 31 stores it plans to axe under its sweeping plans for reform, it must still drag its web functionality into the 21st century".
  • McGregor/Khabib to headline UFC 229

    McGregor/Khabib to headline UFC 229

    Business

    UFC 229 takes place at the T-Mobile Arena in Las Vegas and will be for Nurmagomedov's lightweight belt. Nurmagomedov (26-0) proceeded to overwhelm Al Iaquinta in Brooklyn to capture the lightweight belt that the UFC had stripped from McGregor.
  • Gatineau's Hydropothecary, Molson Coors launch cannabis drink project

    Gatineau's Hydropothecary, Molson Coors launch cannabis drink project

    Business

    Molson would own 57.5 per cent of the JV, while Hydropothecary would own the other 42.5 per cent. He said there are no plans to sell beverages to US states that have legalized cannabis. Corona beer distributor Constellation Brands Inc. invested $245 million for a 9.9 per cent stake in Canada's largest licensed cannabis producer, Canopy Growth, last year.
  • Apple is the world's first trillion dollar company

    Apple is the world's first trillion dollar company

    Business

    Ives continued to say: "It just speaks to the vision that [co-founder Steve Jobs] and now [CEO Tim Cook] have had in making sure Apple isn't just a hardware company". Apple's market capitalization - a common financial measure of worth which multiplies the number of shares by the share price - makes the company worth more than the economies of, for example, Saudi Arabia, Switzerland and Taiwan.
  • China threatens U.S. with $60B in tariffs on coffee, honey

    Business

    The next round of tariffs on mutual imports worth $16 billion could come into force on Friday. Chinese and U.S. flags are set up for a signing ceremony during a visit by U.S. The move was meant to bring China back to the negotiating table for talks over United States demands for structural changes to the Chinese economy and a cut in the bilateral trade deficit.
  • Apple becomes first trillion-dollar U.S. company

    Apple becomes first trillion-dollar U.S. company

    Business

    The company estimated a healthy revenue stream of between $60 billion and $62 billion with low operating costs of just $7.95 billion to $8.05 billion. This makes Apple worth more than the economies of countries such as Saudi Arabia, Switzerland and Taiwan. Apart from Apple it seems Amazon is also expected to reach the $1 trillion mark soon.
  • Azerbaijani oil prices increase

    Azerbaijani oil prices increase

    Business

    Early Market Call - as of 8:35 AM EDT WTI - Sep $70.05, up 1.36 cents RBOB - Aug $2.1708, up 1 cent HO - Aug $2.1636, up 1 cent View the Sprague Refined Products Market Watch Report in a downloadable pdf format by clicking below. Meanwhile, oil prices dropped after Trump seemed to jettison bellicose threats against Iran on Monday, saying in a dramatic about-face that he was willing to meet the country's leaders without pre-conditions.
  • Chipotle Mexican Grill, Inc

    Chipotle Mexican Grill, Inc

    Business

    Chipotle is also using ozone treatment to help with sanitizing, and the report said that the restaurant does a daily employee health check to ensure no workers are experiencing symptoms such as vomiting, diarrhea or nausea. Chipotle voluntarily closed the OH restaurant Monday for deep cleaning and removal of all exposed foods and single-use equipment, the company said.
  • Tax-Free Weekend in Texas Is Coming Up

    Tax-Free Weekend in Texas Is Coming Up

    Business

    Tax Free Weekend ends Sunday night at 11:59, however many stores will be closing before then. Qualifying items in Arkansas include: school and art supplies, clothing and shoes under $100, certain clothing accessories or equipment under $50, and reference books or textbooks.
  • Bank of England hikes interest rates to 0.75%

    Bank of England hikes interest rates to 0.75%

    Business

    Five of the six members on the rate panel voted in favour of a rate increase. Ahead of the RBI's monetary policy announcement, the country's largest lender State Bank of India (SBI) had hiked interest rate on fixed deposits by up to 0.1% on select maturities, a move likely to be followed by other banks.
  • Apple hits $1-trillion stock market valuation

    Apple hits $1-trillion stock market valuation

    Business

    However, because the company readjusted its share count due to buybacks at the close of Q3, Apple's stock price actually needed to hit about $207.05 per share before it can claim the title as the first trillion dollar company. That put Apple on a path to overtake Exxon Mobil in 2011 as the largest US company by market value. The rise is even more astonishing - 50,000% - since the company first listed in 1980.
  • China says fully prepared for United States threats on escalating trade war

    Business

    Slapping additional tariffs on Chinese imports - 60 per cent of which are made by foreign firms, including American companies - will only raise costs for domestic U.S. While American and Chinese officials have hinted at the possibility of restarting talks in recent weeks, it's been nearly two months since they last held high-level negotiations.
  • No, Google is not returning to China, censored or otherwise

    Business

    However, the Chinese human rights community said Google acquiescing to China's censorship would be a "dark day for internet freedom". The initiative would represent the first time in nearly a decade that Google has operated its search engine in the country, whose Great Firewall now blocks its service.
  • Home, vehicle loans to cost more, banks hike rates before RBI

    Business

    The reaction in financial markets was muted. Meanwhile, the reverse repo rate has been adjusted to 6.25 per cent, and the marginal standing facility rate and the bank rate to 6.75 per cent. Howard Young at the EY Item Club also believed the MPC will vote in favour of increase rates, but said the decision will be debated. RBI has projected inflation at 4.6 per cent in Q2, 4.8 per cent in H2 of 2018-19 and 5.0 per cent in Q1 2019-20.
  • United States considers higher tariffs on $200 billion in Chinese imports

    Business

    Erin Ennis, senior vice president of the US China Business Council, said a 10 per cent tariff on these products is already problematic, but more than doubling that to 25 per cent would be much worse. The public comment period on the US tariffs aimed at $US200 billion ends on August 30 after public hearings August 20-23, according to the US Trade Representative's office.
  • TSA secretly watches U.S. flyers through Quiet Skies air marshal program

    TSA secretly watches U.S. flyers through Quiet Skies air marshal program

    Business

    Even with the program now public knowledge, all indications suggest that the TSA will continue to select new Quiet Skies targets and deploy federal air marshals to investigate them. "Also, if they're using these types of digital dossiers to restrict people, putting them on flight lists or putting them under some type of other limitation, that could also raise a serious matter under the Constitution".
  • Trump's free trade plan could be his Reagan moment

    Business

    Washington imposed additional 25 per cent tariffs on $34 billion of Chinese goods July 6 in response to complaints Beijing steals or pressures companies to hand over technology. Investors fear an escalating trade war between Washington and Beijing could hit global economic growth, and prominent U.S. business groups, while tired of what they see as China's mercantilist trade practices, have condemned Mr Trump's aggressive tariffs.
  • Higher interest on fixed deposits for NRIs after RBI rate hike

    Higher interest on fixed deposits for NRIs after RBI rate hike

    Business

    Earlier in June, the Central bank had hiked the interest rates by 25 basis points. Reverse repo - the rate at which the RBI borrows money from commercial banks within the country - is adjusted to 6.25 per cent. Among the Monetary Policy Committee panel members, Dr Chetan Ghate, Dr Pami Dua, Dr Michael Debabrata Patra, Dr Viral V Acharya and Dr Urjit R Patel voted in favour of the decision while Dr.
  • Tesla adds 'Party & Camper mode' to Model 3, S and X

    Tesla adds 'Party & Camper mode' to Model 3, S and X

    Business

    Tesla reported a record net loss of $718 million, which was larger than what analysts had been forecasting. While Tesla so far has been mostly losing money at a growing pace, Musk reiterated on Wednesday he expects the company to become profitable as soon as the next quarter after it boosts production of its Model 3 vehicle, envisioned for mass marketing.
  • Turkey says to retaliate against USA decision to impose sanctions over pastor

    Turkey says to retaliate against USA decision to impose sanctions over pastor

    Business

    And on Wednesday the Treasury Department laid blame for his ongoing trial primarily with Abdulhamit Gul, Turkey's justice minister, and Turkish Interior Minister Suleyman Soylu. Brunson, who led a Protestant church in the Aegean city of Izmir, was placed under house arrest last week after almost two years in jail. Turkey's Foreign Ministry was expected to release a statement later Wednesday.
  • Govt bonds rally after BOJ vows to keep rates 'very low'

    Business

    TOKYO-The yield on the benchmark Japanese government bond posted its biggest percentage-point gain in two years, a day after Bank of Japan Gov. Haruhiko Kuroda said he would allow the yield to move in a wider band. Inflation remains less than halfway to the target after more than five years of extraordinary stimulus. Analysts suggested that the latest policy tweaks clouded the longer term outlook for YCC.
  • Salads, wraps from Kroger and Walgreens may be contaminated with parasite

    Salads, wraps from Kroger and Walgreens may be contaminated with parasite

    Business

    They are being recalled amid fears of Cyclospora contamination from chopped romaine sold to Caito Foods from their lettuce supplier, Fresh Express. The potentially affected items were produced between July 15-18, with a "best by", "enjoy by", "best if sold by" or "sell by" date ranging from July 18-23, according to the FSIS.
  • Big Mac turns 50, McDonald's marks anniversary with 'MacCoin'

    Big Mac turns 50, McDonald's marks anniversary with 'MacCoin'

    Business

    The famous fast food chain is celebrating the 50th birthday of the Big Mac with a new deal. More than 6.2 million tokens will be distributed in the USA and 50 other countries. "We think the Big Mac needs to be sacrosanct". The MacCoin will be redeemable at 14,000 USA locations so chances are there'll be one close to you that'll take what the fast food empire is hailing as the "first fully food-back global currency".
  • British voters support a referendum on final Brexit deal: YouGov

    British voters support a referendum on final Brexit deal: YouGov

    Business

    The YouGov survey, published on Friday, showed 42 percent of voters believed they ought to be given a "final say" on leaving the 28-member bloc once the terms of Britain's exit from it have been established. Faith in Theresa May has plunged to record lows and nearly three quarters of people lack confidence she can get a Brexit deal. Freakish stories have already appeared in mainstream media outlets such as BBC News and the Independent , claiming a "No Deal" Brexit could mean no more ...
  • RBI hikes repo rates by 25 basis points

    Business

    Traders said though the market was largely prepared for a rate hike on Wednesday, yields would still shoot up by 5-10 basis points after one, and the surge would be much more if the RBI also tightens its stance. The monetary policy committee "could afford to do a "wait and watch" at this juncture and consider more data points before a rate action", said Lakshmi Iyer, Kotak Mutual Fund's chief investment officer debt.
  • JLR drags Tata Motors to Rs. 1,863 cr. loss, biggest since 2009

    JLR drags Tata Motors to Rs. 1,863 cr. loss, biggest since 2009

    Business

    Jaguar Land Rover ( JLR ) has reported a loss for the first time in three years after sales slowed in China . "I am delighted with the progress made by the domestic business on their "Turnaround 2.0" strategy", Natarajan Chandrasekaran, chairman, Tata Motors, said in a statement.
  • McDonald's Staff Beat Up Milkshake-Throwing Customer

    McDonald's Staff Beat Up Milkshake-Throwing Customer

    Business

    The woman, who has not been publicly identified, can be seen in a video shot by Instagram user Marie Dayag , whose Instagram name is bxbyness . The worker grabs the woman, who is wearing just a small black tank top and gray shorts, and starts pounding her head on a table.
  • Huawei overtakes Apple to become the second largest smartphone vendor

    Business

    Given that Huawei , Oppo or Xiaomi are in the top tier of phone sellers in China, LG will undoubtedly have a big customer base for its OLED displays, and now the only thing left is for the company to deliver. China's Huawei Technologies Co Ltd [HWT.UL] posted a 15 percent rise in first-half revenue, with industry data showing market share gains at home for the smartphone maker that has been largely shut out of the US market over security concerns.
  • Uber pulling the plug on its self-driving truck operation

    Uber pulling the plug on its self-driving truck operation

    Business

    Controversy was aroused when it purchased Otto, a self-driving truck startup founded by a former Google engineer, in 2016. The fatal accident came a year after Uber pulled self-driving cars from the roads after another accident which left one of the vehicles on its side.
  • Apple's Market Value Is Approaching A Trillion Dollars

    Apple's Market Value Is Approaching A Trillion Dollars

    Business

    Apple attributed the latter figure to the fact that 2017's MacBook Pros launched within the same quarter last year, whereas this year's models didn't launch until right after the end of the quarter, so those sales are not included in the figures for this year.
  • Harley-Davidson Streetfighter Designed By Indian Designer

    Harley-Davidson Streetfighter Designed By Indian Designer

    Business

    Harley-Davidson isn't giving out any more technical information just yet. In a slideshow released by the company, it describes how moving into EV technology will keep them competitive as they reposition the brand to embrace the opportunities presented by a market gradually making the shift to zero emissions vehicles.
  • Disney & Fox Shareholders Approve $71.3 Billion Merger

    Disney & Fox Shareholders Approve $71.3 Billion Merger

    Business

    Some 99 per cent of Disney investors who voted approved the deal . Media mogul Rupert Murdoch will continue to run a slimmed-down "new Fox " focusing on Fox News , the Fox broadcasting network and several sports operations. As for specifics, Disney will now retain creative & distribution rights of all of Fox's film assets. In addition to the film and TV studios and certain character rights, Disney will gain FX Networks, National Geographic, a 30-percent stake in Hulu , a ...
  • Juncker and Trump talked again on trade

    Juncker and Trump talked again on trade

    Business

    Trump's boast appears to be an overselling of the agreement he reached with European Commission President Jean-Claude Juncker, which was announced at the White House on Wednesday. Seeking to strengthen trade ties outside the West, Chinese President Xi Jinping on Thursday took his first trip overseas since starting his second five-year term in office after Beijing abolished presidential term limits, allowing him to rule infinitely.
  • Facebook's US$119 billion one-day loss makes USA history

    Facebook's US$119 billion one-day loss makes USA history

    Business

    Facebook's stock market valuation also fell by a hefty $120 billion, another dubious record, as it was the worst single-day loss in market value in United States stock history. Rahul Shah, chief executive officer at Ideal Asset Management in NY, a Facebook shareholder, said executives were trying to reset expectations about growth but the outlook caught Wall Street by surprise.
  • Bitcoin slides after SEC rejects Winklevoss twins’ ETF

    Bitcoin slides after SEC rejects Winklevoss twins’ ETF

    Business

    If passed, the Winklevoss' proposal would have had commodity-based shares from the Winklevoss Bitcoin Trust traded on the BATS BZX Exchange. According to the SEC, the contention points was that BTC didn't provide the safety against manipulation as a digital asset class and that the tech didn't provide enough tools for preventing money laundering and fraudulent acts.