Saturday, 18 August 2018

Business

Trade war: US lists next $200 bn Chinese goods to face tariffs

WASHINGTON: The United States late Tuesday announced it was starting the process to slap 10 percent tariffs on another $200 billion in Chinese export goods as soon as September, escalating the trade war between the world’s two largest economies. President Donald Trump vowed to hit back on a growing list ...

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Norway denies holding up Tesla move to improve service

OSLO: Norway has rejected a suggestion it is holding up Tesla’s efforts to improve service in its third-biggest market, saying the electric carmaker has not yet applied to use the mobile service vans it says it needs to solve its problems. Tesla Chief Executive Elon Musk last week blamed a ...

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Sanofi shuts down factory over toxic waste outcry

PARIS: French pharmaceuticals group Sanofi announced late Monday an immediate halt in production at a chemical factory in southwest France, in the wake of media reports that toxic waste emissions exceeded the norms. “Sanofi Chemical has decided from today to stop production at its Mourenx site and to carry out ...

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Modi, Moon inaugurate world’s biggest mobile manufacturing factory

NEW DELHI: Indian Prime Minister Narendra Modi and South Korea President Moon Jae-in inaugurated a Samsung Electronics mobile phone manufacturing facility, billed as the world’s largest, in Noida on Monday. The 35-acre factory would not only generate more jobs but also make India a global export hub, Modi said. “Whenever ...

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France says Europe united against US tariffs

AIX-EN-PROVENCE: The French government insisted on Sunday that Washington should expect united retaliation from Europe to further tariff increases after Germany signaled it was prepared to negotiate. With Germany’s powerful car industry facing the threat of higher U.S. duties, Chancellor Angela Merkel said last Thursday she would back a lowering ...

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Facebook’s Blockchain Division Has a New Director of Engineering

NEW YORK: After setting up a group within Facebook to look into blockchain technology, Facebook may be bolstering its efforts in the field: Evan Cheng has taken on the position of director of engineering, blockchain, at the company, according to reports and his LinkedIn profile. Before taking the latest position, Cheng ...

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Ford’s Sale Slump After US Tariffs on Chinese Products

BEIJING: Ford Motor’s <F.N> China slump intensified, with vehicle sales tumbling 38 percent in June and the automaker recording its worst-ever first half, as buyers shunned its aging models that are awaiting overhauls and flocked to rivals. The U.S. automaker announced on Friday it sold 62,057 vehicles in China in ...

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Cryptocurrency Exchange Binance Eyeing $1 Billion in Profits

LONDON: Leading cryptocurrency exchange Binance is thriving despite 2018 seeing a massive downturn in pricing for cryptocurrency. As alluded to last month by Arthur Hayes, co-founder of exchange BitMex, the falling price of cryptocurrency has yet to dampen the growth most exchanges are seeing throughout 2018. While investors scramble to ...

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Starbucks back in hot water for mocking stutterer

NEW YORK: Starbucks was back in hot water, three months after a branch manager called the police on two black men – this time for seemingly mocking a customer with a stutter. When the customer, called Sam, gave his drink order in a Philadelphia Starbucks on June 27, he stuttered ...

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Trade wars: Trump loads first volley against China

Steep American tariffs on Chinese goods worth tens of billions of dollars are due to take effect when the clock strikes twelve on Thursday night, as US President Donald Trump fires the first salvo in a trade war between the world’s top two economies. China has vowed to respond “immediately”, ...

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