Money

Coca-Cola buys coffee chain Costa for 3.9bn

Coca-Cola buys coffee chain Costa for 3.9bn Scott Ferguson, managing partner and portfolio manager at Sachem Head, said that his fund was "very pleased with the transaction and credit management and the board for thoughtfully maximizing value for shareholders". "Costa will get lots of care and attention". It completes a years-long streamlining of FTSE 100 leisure group Whitbread that will leave it focused on its Premier Inn hotel chain. [Full Article...]

Chinese billionaire arrested in US over sexual misconduct allegations

Chinese billionaire arrested in US over sexual misconduct allegations Liu Qiangdong, founder and CEO of JD.com, an online shopping site that has drawn investments from Google and Walmart , was arrested by Minneapolis police on Friday about midnight and released the next afternoon. Both the name and birthdate of the person in the detention record matched that of Richard Liu. In a statement posted on Weibo, a Chinese social media network, JD.com confirmed t... [Full Article...]

Trump federal worker pay raise cancellation, GOP tax law federal debt

Trump federal worker pay raise cancellation, GOP tax law federal debt Trump said both increases should no longer happen. "Across-the-board pay increases and locality pay increases, in particular, have long-term fixed costs, yet fail to address existing pay disparities or target mission critical recruitment and retention goals ". [Full Article...]

President Kenyatta criticises Theresa May's 'rushed and belated' Africa visit

President Kenyatta criticises Theresa May's 'rushed and belated' Africa visit She rejected criticism from her former chief of staff Nick Timothy, insisting her deal would mean Britain ending free movement and leaving European Union institutions. May said she was glad to hear Kenyatta call for a transition from peacekeepers to stronger Somali security forces. Concerns about the readiness of Somali troops to take over the country's security, however, remain high. [Full Article...]

Parmesan proves a sticking point in Brexit talks

Parmesan proves a sticking point in Brexit talks Mr Barnier was speaking following a six-hour round of face-to-face talks with the UK Brexit Secretary, Dominic Raab. Barnier repeated his concern that a "backstop" deal on the border is essential to to get to a broader Brexit deal. The UK Government insists that any backstop position should include the UK as a whole. The backstop, which would foresee Northern Ireland remain in the single mar... [Full Article...]

California's Net Neutrality Law Could Lead to Protections Nationwide

California's Net Neutrality Law Could Lead to Protections Nationwide Jerry Brown signs a bill passed by the state legislature late last week. In a nutshell, this allows cable and internet providers to prioritize what websites and content you access by slowing traffic, charging more for faster connections, and generally behaving exactly as you'd expect cable companies to when they're freed from having to put customers ahead of their bottom line. [Full Article...]

Google bought Mastercard data to link ads with in-store purchases

Google bought Mastercard data to link ads with in-store purchases Google paid Mastercard, reports Bloomberg , for access to stash of Mastercard transactions which it could then feed into its analysis systems. "But most of the two billion Mastercard holders aren't aware of this behind-the-scenes tracking". [Full Article...]

Indonesia, Australia vow closer economic ties, agree main points of bilateral deal

And at a time when China's rising economic influence and military presence in the Asia-Pacific is causing growing concern, Mr Morrison reassured Beijing that Australia's deepening strategic relationships with nations including Indonesia, Singapore and Vietnam, were no cause for concern. [Full Article...]

Trade uncertainties bog down Wall Street, Apple offers some relief

Trade uncertainties bog down Wall Street, Apple offers some relief Trade talks between Canada and the United States had yet to clear some remaining hurdles as negotiators struggled to meet a Friday deadline. The Dow Jones Industrial Average fell 22.1 points, or 0.09 per cent, to 25,964.82, the S&P 500 gained 0.39 points, or 0.01 per cent, to 2,901.52 and the Nasdaq Composite added 21.17 points, or 0.26 per cent, to 8,109.54. [Full Article...]

CBOE Announces an Ether Futures

CBOE Announces an Ether Futures This news immediately sparked speculation about the effect this vehicle would have on the market, with many optimists noting that this futures contract should help to propel the price, development, and maturation of Ethereum , and subsequently, the growth of this industry. [Full Article...]

Panasonic pulling European HQ out of United Kingdom amid Brexit tax concerns

Panasonic pulling European HQ out of United Kingdom amid Brexit tax concerns The move is the latest sign of multinational companies taking contingency actions because of concerns about the fallout from Brexit. In the run-up to March 2019, a number of multinationals have said they plan to move jobs out of the UK. In terms of staff numbers, Panasonic's United Kingdom office - which is based in Bracknell, about 30 miles from London - has around 30 staff, according to the D... [Full Article...]

Trump has threatened to withdraw the US from world trade organization

Trump has threatened to withdraw the US from world trade organization Trump has been critical of the WTO , which was formed in 1994 as an worldwide body tasked with creating a global trade structure and resolving disputes between countries. European Commission chief Jean-Claude Juncker warned Friday the EU would hit back with tariffs of its own if Donald Trump made good on threats to slap duties on foreign cars, as an EU-US trade truce wobbled. [Full Article...]

Trump, Mexico trade talks ripped as ‘big PR stunt’

Trump, Mexico trade talks ripped as ‘big PR stunt’ Trump will need congressional approval to replace or change the details of NAFTA , the 1994 trade pact crafted by then-President Bill Clinton between Mexico, the US and Canada. The Trump administration's trade decisions have infuriated a number of US allies this year. "Wow, I made OFF THE RECORD COMMENTS to Bloomberg concerning Canada, and this powerful understanding was BLATANTLY VIOLATED"... [Full Article...]

CBOE Ready to Launch Ethereum (ETH) Futures Trading This Year

CBOE Ready to Launch Ethereum (ETH) Futures Trading This Year According to Lee, futures contracts are in fact to blame for the crypto market's "gut-wrenching" drop , as his data revealed bitcoin's price dropped around CBOE futures expirations. "This announcement clears a key stumbling block for Ether futures , the case for which we've been considering since we launched the first Bitcoin futures in December 2017", said Chris Concannon, CBOE Glob... [Full Article...]

Trump to Federal Employees: No Pay Raises for You!

Trump to Federal Employees: No Pay Raises for You! Under current law, locality pay increases averaging 25.70 percent, costing $ 25 billion , would go into effect in January 2019, in addition to a 2.1 percent across-the-board increase for the base General Schedule. In July, the House effectively approved the proposal, although the Senate later passed a bill that includes a salary increase. In the letter , Trump said the pay freeze "will not mate... [Full Article...]

Argentina asks for early release of IMF funds, peso hits new low

Argentina asks for early release of IMF funds, peso hits new low Efforts by the Argentinian central bank to stabilize the national currency by raising a key interest rate to 60 percent have done little to soothe rapidly deteriorating sentiment in Latin America's third-largest economy. International Monetary Fund chief Christine Lagarde said she had granted Macri's request but, in return for the help, Argentina had to commit to strict economic measures,... [Full Article...]

Ford ditches plan to sell China-made Focus crossover in US

Ford ditches plan to sell China-made Focus crossover in US Ford told reporters Friday that the tariffs would too deeply cut into profits, especially since the automaker only planned to sell fewer than 50,000 Focus Active models annually. The Active was among several vehicles designed for China and Europe, with the U.S. market a potentially convenient afterthought. Tariffs could be coming at a bad time for Ford, whose stock last month dipped below $10... [Full Article...]

Trade negotiations between the U.S. and Canada pass deadline without a deal

Trade negotiations between the U.S. and Canada pass deadline without a deal U.S. Trade Representative Robert Lighthizer said U.S. officials would resume talks with their Canadian counterparts next Wednesday with the aim of getting a deal all three nations could sign. "Canada will only sign a deal that's a good deal for Canada, we are very very clear about that", she said. The Canadian dollar CAD= weakened to C$1.3081 to the US dollar after news of the talks' lack of a... [Full Article...]

India's GDP grows at 8.2 per cent in 2018-19 Q1

India's GDP grows at 8.2 per cent in 2018-19 Q1 While impressive growth performance in agriculture and construction is a welcome trend given the high labour intensity of these sectors, services recording a lower than average growth is an important development, Sen added. To be sure, there is an element of base effect in the latest growth figures. Analysts had forecast 7.6% growth. GDP growth in Q1 2018 had fallen to 5.6%, the lowest since Q4 20... [Full Article...]

Coca Cola buys Costa Coffee for £3.9 billion

Coca Cola buys Costa Coffee for £3.9 billion Quincey added that Costa offered an attractive global supply chain, taking coffee beans from roasting through to customers in multiple formats. Coke has agreed to acquire Costa Coffee . Consumers in the United Kingdom are reducing spending due to inflation and concern that Brexit may hurt the economy. Costa's sale to Coca-Cola is likely to be seen as a direct challenge to the dominance of... [Full Article...]


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