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Economy

But shares slumped seven percent in after-hours exchanges after hitting record levels in official trading, with the quarterly report largely weaker than had been expected. The company's user base flatlined in its biggest market, the US and Canada, at 185 million daily users, while declining 1 per cent in Europe to 279 million daily users.
  • Amazon Prime Day 2018: Is it worth paying $119 to take part?

    Amazon Prime Day 2018: Is it worth paying $119 to take part?

    Economy

    A selection of RAVPower wireless chargers for iPhone and other smartphones are on sale today for up to 52% off as an Amazon Prime Deal of the Day. According to reports from last year, Amazon's 2017 Prime Day was the company's biggest sales day ever - growing more than 60 percent over the previous year's results and bringing in more new Prime members than in any other single 24-hour period in Amazon's history.
  • U.S. unveils tariffs on extra US$200 bln of Chinese imports

    U.S. unveils tariffs on extra US$200 bln of Chinese imports

    Economy

    It added: "The Chinese government will be forced to impose necessary countermeasures to protect its core interests". A four-day winning streak for the S&P 500 ended as the benchmark index lost 19.82 points, or 0.7%, to 2774.02. Washington made a decision to impose the extra tariffs after efforts to negotiate a solution to the dispute failed to reach an agreement, senior administration officials said on Tuesday.
  • Elon Musk offers to help Thai cave rescue

    Elon Musk offers to help Thai cave rescue

    Economy

    Twelve boys and their coach, who had been missing since last month, were found by a pair of British cave divers late Monday. It remains unclear whether Musk's submarine will be used to aid retrieval of the team but the SpaceX CEO also suggests the submarine could be modified for use as an "escape pod in space." He has now designed a plan to help save the boys, and he said engineers from his companies would travel to Thailand on Saturday.
  • Trump accuses OPEC of doing little to bring down high oil prices

    Trump accuses OPEC of doing little to bring down high oil prices

    Economy

    The Trump-Saudi campaign to calm oil markets will by tested severely in the coming months as sanctions bite deeper into Iran's exports, risking even higher crude prices. The governing principles in Organization of the Petroleum Exporting Countries ( OPEC ) would never allow such political pressures to change the directions of the market, he said.
  • Oil climbs despite Trump’s call for OPEC to reduce pricing

    Oil climbs despite Trump’s call for OPEC to reduce pricing

    Economy

    In June, Iran's crude oil exports stood at 2.280 million bpd , and condensate exports were 330,000 bpd, Iran's oil ministry news service Shana reported earlier this week. This must be a two way street. This time around, the US sanctions and the tough USA approach to try to cut off as many Iranian oil barrels as possible have spooked banks, insurers, and shippers, who have started to wind down business with Iran for fear of coming under secondary sanctions.
  • 'Impeach 45' apparel leads to Walmart boycott threats

    'Impeach 45' apparel leads to Walmart boycott threats

    Economy

    Other items echoing the anti-Trump sentiment were also available on the retail giant's website, including other T-shirts, coffee mugs and bumper stickers, made by several companies. Walmart is in consumer crosshairs after shoppers discovered the retailer's line of " Impeach 45 " apparel. But overnight, Trump supporters have been expressing anger toward Walmart on social media, with the hashtag #BoycottWalmart gathering more than 27,700 tweets at the time of publication.
  • Mazda Joins Toyota and GM Against Trump's Car Tariff Plans

    Mazda Joins Toyota and GM Against Trump's Car Tariff Plans

    Economy

    President Trump has ordered that department to investigate imported cars and auto parts as a national security threat , which could lead to new tariffs. allies, including Japan, Germany, and South Korea. Navarro added that Trump, having passed a tax cut that helps companies like GM and Harley, "felt betrayed" when they then threatened to move production jobs outside the USA in response to the retaliatory actions of foreign countries to Trump's tariffs.
  • End of an era: Toys 'R' Us stores close for good

    End of an era: Toys 'R' Us stores close for good

    Economy

    An anonymous donor has bought $1 million worth of toys for children on the final day of business at a Raleigh Toys "R" Us store , CBS 17 reported Friday . Days, months, and years will pass until this contact becomes rare. 'My heart is breaking, ' Johnpiere wrote. Many people have reacted to the images on Twitter , sharing their sadness that a piece of their childhood has been shuttered.
  • Iranian Protestors Swarm Streets Chanting, ‘Death to Palestine’

    Iranian Protestors Swarm Streets Chanting, ‘Death to Palestine’

    Economy

    The small businessmen work in the heart of Tehran's trading district and are angry with the Rouhani Administration's handling of the USA walkout from the nuclear deal and upcoming sanctions from Washington - the Iranian rial (IRR) had plunged to a new all-time unofficial market low of IRR90,000 to the dollar on June 24, according to reports via social media.
  • Trump warns Harley-Davidson: 'We won't forget'

    Trump warns Harley-Davidson: 'We won't forget'

    Economy

    The president is tweeting that Harley-Davidson, which already has some production in foreign markets, "should stay 100 percent in America". Shares of Harley-Davidson were up slightly in midday trading. The motorcycle manufacturer filed the paperwork Monday to move production of motorcycles sold to the European Union to a location outside the U.S.
  • Commerce Stocks Smacked By Supreme Court Ruling On State Taxes

    Commerce Stocks Smacked By Supreme Court Ruling On State Taxes

    Economy

    Cook said the issue has stalled in Congress, prompting states to look to the court. They will have to examine and retrofit operations to determine where they have to collect tax, whether their goods are taxable, and how they will handle tax computation, filing, and remittance, consultants said.
  • Shopping online? Now you will have to pay taxes

    Shopping online? Now you will have to pay taxes

    Economy

    That's a question on many minds after Thursday's Supreme Court ruling in South Dakota v Wayfair (see EcommerceBytes' article , "Supreme Court Throws Out Longstanding Sales Tax Rule-Book", published on Saturday). Small businesses may have to figure out how to comply with various state sales tax laws, though there are software options to help. Sales tax collection in Florida already has been evolving.
  • Supreme Court Decision Will Cost Consumers

    Supreme Court Decision Will Cost Consumers

    Economy

    Some states have exemptions for collecting sales tax. The Supreme Court's ruling in favour of South Dakota and against Wayfair Inc (W.N) and two other online retailers was a victory for state governments, and a boost for brick-and-mortar stores.