Finance

by | June 30, 2018 | 15:51

After declaring bankruptcy in September, the chain in March sought a bankruptcy court's approval to start closing its 735 USA stores, with severance payments coming to a halt during the liquidation. In case you need reminding, here is Geoffrey in happier times. The photo was taken by Rene Johnpiere, who appears to work at a Toys "R" Us. In addition to online platforms like Amazon.com Inc, analysts have pointed to Walmart Inc, Target Corp, JC Penney Co Inc, Kohls Corp and Bed Bath & Beyond ...

by | June 29, 2018 | 23:47

Speaking of the shortage, the British Poultry Council said that it could have a "potentially huge effect" on food production. The food and drink industry hopes that supplies will begin returning to normal in early July, although trade bodies have complained about a lack of communication from Carbon dioxide suppliers.

by | June 29, 2018 | 23:37

With deposits by Indians in Swiss banks surging, Interim Finance Minister Piyush Goyal today wondered how all of it can be assumed to be black money , but said strong action would be taken against anyone found guilty of wrongdoing. According to the SNB data, the total funds held by Indians directly with Swiss banks rose to 999 million Swiss franc (Rs 6,891 crore) in 2017, while the same held through fiduciaries or wealth managers increased to CHF 16.2 million (Rs 112 crore).

by | June 29, 2018 | 13:46

Responding to the comments by Airbus , International Trade Secretary Dr Liam Fox said the aerospace giant should be "making the case" against a "no deal" Brexit in Europe - not just to the UK. No cars bearing the BMW badge are produced in the UK. Her pledge to make the process of exiting the European Union "as frictionless as possible", Mr Hawes said, was "just not good enough" he tersely dismissed the suggestion of a "Brexit divided" floated by the government in recent weeks: ...

by | June 28, 2018 | 21:33

The British government and business leaders clashed in a deepening row over Brexit on Sunday after a senior minister accused companies of issuing "completely inappropriate" threats and undermining the prime minister. The comments are at odds with reassurances put forward by the Bank of England after May agreed to the terms of the transition deal in March, which was seen by the City as a key requirement for keeping jobs in London and helping banks to rearrange their operations to keep ...

by | June 28, 2018 | 15:29

But after being in power for 16 years, with his newly won term set to end in 2023, and with a majority of seats in parliament together with the MHP, Erdoğan now has the time-and the power-to deal with the problems the country faces in whatever way he pleases.

by | June 28, 2018 | 15:27

Traders at Tehran's Grand Bazaar have taken part in a big protest against rising prices and the plummeting value of Iran's currency, the rial. Iran has faced mounting economic woes since the United States in May pulled out of a 2015 nuclear accord between Tehran and world powers that lifted global sanctions in exchange for a scaling back of the Islamic republic's atomic programme.

by | June 28, 2018 | 11:24

The EU responded to USA tariffs on steel and aluminium, but hitting a series of American products with import taxes, including motorcycles, bourbon and blue jeans. Trump has dismissed the notion that his tariffs are to blame for Harley-Davidson's decision and has accused the company of using the duties as a false pretense for moving production out of the U.S.

by | June 28, 2018 | 07:00

The official state-owned oil company based in the capital Tripoli, also called NOC, will not be allowed to handle that oil anymore, he said . "After Friday's ambiguous OPEC meeting outcome, Saudi Arabia and Russian Federation sought to reassert control of the narrative", said Helima Croft, chief commodities strategist at RBC Capital Markets LLC in NY, adding it would send a strong supply signal to the market.

by | June 27, 2018 | 23:56

Following the results of an investigation initiated by the U.S. in August 2017, the Trump administration released a list of 1,333 Chinese products under consideration for 25% tariffs in April, citing the investigations report that China was conducting unfair trade practices relating to technology transfer, intellectual property (IP) and innovation.

by | June 27, 2018 | 23:18

Trump tweeted . "Their employees and customers are already very angry at them". The US company chose to move production of motorcycles headed for Europe from the US after the European Union began rolling out tariffs on American imports.

by | June 27, 2018 | 16:52

The U.K., France, Germany, China and Russian Federation are trying to hold onto the deal because they say it's the only way to control Iran's nuclear capability. External affairs minister Sushma Swaraj and defence minister Nirmala Sitharaman would be in the USA next week for talks with their American counterparts secretary of state Mike Pompeo and defence secretary James Mattis .

by | June 26, 2018 | 23:54

The forthcoming restrictions would apply "to all countries that are trying to steal our technology ", he said. However, that contradicts the White House's own May 29 statement which specified that new measures would target China. A bill to make CFIUS reviews even tougher is making its way through Congress. Chinese investment in the United States already declined by 92 percent to $1.8 billion in the first five months of this year - its lowest level in seven years.

by | June 26, 2018 | 15:28

While the company said it's committed to making motorcycles in the USA, it suggested it has no other choice but to move production from its home market. A year after Trump pulled the U.S. out of a 12-nation trade deal, the Trans-Pacific Partnership, in January 2017, Harley announced it would close its factory in Kansas City, Missouri, and consolidate production in York, Pennsylvania, eliminating about 260 jobs.

by | June 25, 2018 | 12:50

Thousands of pro-EU marchers have begun a walk from Pall Mall to Parliament to demand a referendum on the terms of Brexit two years on from the vote. Organisers Open Britain said about 100,000 protesters packed the main arteries of the capital, waving British, Irish and European flags and colourful banners to call for a "People's Vote" on the eventual deal in which Britain leaves the world's biggest trading bloc.

by | June 25, 2018 | 09:26

Greece's current worldwide bailout, the country's third rescue programme since 2010, ends in August. Eurozone President and Portuguese Finance Minister Mario Centeno said at a press conference shortly after the meeting "after eight long years Greece will finally be graduating from its financial assistance".

by | June 25, 2018 | 09:24

Official results are to be announced in a few days. The opposition raised doubts about the accuracy and reliability of the figures released by state-run Anadolu news agency, the sole distributor of the official vote tally. Ince also accused Erdogan of imposing a de facto media ban on covering the opposition. Emotions are running high on today's result, which follows a referendum led by re-elected President Erdogan to scrap Turkey's Prime Minister role entrenching a controversial ...

by | June 25, 2018 | 07:01

Even if we see a continuation of growth in online sales, it will not be to the detriment of local tax authorities. "It's more effective to go through the Supreme Court instead of having to go through every state", she said. The top 100 retail sellers remit about 90% of the taxes owed. Although Act 41 was patterned after the South Dakota law , there are differences that sellers could focus on to question the law's validity.

by | June 24, 2018 | 23:32

Second, Hawaii is not a member of the Streamlined Sales Tax Agreement and can not be a member unless its laws are amended significantly. Over on NBC News , they are reporting that the US Supreme Court has ruled 5-4 that states can now force retailers to collect sales tax on online sales regardless of where the business is located.

by | June 24, 2018 | 23:36

The 5-4 ruling is widely seen as a victory for brick-and-mortar stores, which previously said online retailers' ability to avoid sales-tax collection gave them an advantage. But using the compliance services won't be without complications, says Jamie Yesnowitz, an accountant specializing in state and local taxes with the firm Grant Thornton.

by | June 24, 2018 | 23:27

But the best indicator of the market's response to the deal was the price of oil itself, which soared the most since OPEC's November 2016 meeting (even if still modestly below the May highs). Crude oil hit $73.98 a barrel on Brent exchange on Friday . Iran posits that the shortfall should remain while Saudi Arabia is eager to supplement the production.

by | June 24, 2018 | 11:03

The EU charges that Trump broke world trade rules June 1 by slapping 25 percent tariffs on EU steel and 10 percent on aluminum. The goods targeted include typical American products such as bourbon, peanut butter and orange juice, in a way that seems designed to create political pressure on President Donald Trump and senior U.S.

by | June 23, 2018 | 20:47

Tehran had bridled at complaints on Twitter by U.S. president Donald Trump that the cartel was artificially inflating oil prices , which touched $80 a barrel last month. Other OPEC-members, including Iran, are against such a move, fearing a sharp slump in prices. Reuters reported Saudi Arabian Energy Minister Khalid al-Falih telling reporters in Vienna that the oil market had now rebalanced and his aim was to prevent a shortage of crude in future that could squeeze the market.

by | June 23, 2018 | 15:21

Yesterday, the Canadian government rejected the Senates recommended amendments , sent back the bill and late last night it was approved as is with a vote of 52 in favour, and 29 against. On Tuesday, the Senate voted to end its opposition to certain aspects of the federal bill, most notably the plan to permit Canadians to cultivate marijuana plants at home.

by | June 23, 2018 | 13:27

NY time on Wednesday. Inclusion "is a game-changer for Saudi Arabia's capital markets", said Antoine Maurel, head of global markets for Middle East, North Africa and Turkey at HSBC Bank Middle East Ltd., who estimates it will lead to $35 billion of inflows.