Money

Money Britain's Thomas Cook scrambles for $250 million to avert collapse
Author: 0 Britain's Thomas Cook scrambles for $250 million to avert collapse

A row between Thomas Cook and taxpayer-controlled Royal Bank of Scotland has escalated with both sides blaming each other for taking the travel agent to the verge of collapse. He said a planned deal with Chinese tourism group Fosun would involve an injection of £900 million of "new money". The debt-laden tour operator confirmed Friday it was seeking 200 million pounds, or about $250 million, in extra funding to avoid its collapse.

Money Govt slashes corporate tax to 25.17 pc for domestic cos
Author: 0 Govt slashes corporate tax to 25.17 pc for domestic cos

Domestic companies will pay 22% tax on their income from April 1, 2019, versus 30% previously, Finance Minister Nirmala Sitharaman said Friday. Catering in premises with daily tariff more than ₹7,500 will continue to be taxed at 18% with input tax credit.

Money Mitsubishi Corp unit loses $320 million on unauthorised trades
Author: 0 Mitsubishi Corp unit loses $320 million on unauthorised trades

Petro-Diamond Singapore, a Mitsubishi Corporation unit, "expects to book a loss of approximately $320 million from its trade of crude oil derivatives". suffered the worst ever rogue trading event in commodities in 1996 when Yasuo Hamanaka lost US$2.6 billion dealing copper on the London Metal Exchange.

Money More than 1,000 rescues, evacuations as Imelda soaks Texas
Author: 0 More than 1,000 rescues, evacuations as Imelda soaks Texas

The Harris County Flood Warning System recorded that more than 12 inches of rain fell in some areas north of Houston on September 18, but that rainfall largely ceased in the early hours of September 19. Some areas in neighboring Jefferson County saw a whopping 43 inches of rain. In nearby Chambers County, preliminary estimates indicate about 800 homes and businesses sustained some level of damage from floodwaters, county spokesman Ryan Holzaepfel said.

Money Kansas governor speaks with local union workers taking part in GM strike
Author: 0 Kansas governor speaks with local union workers taking part in GM strike

The automaker initially said it furloughed roughly 1,200 workers at the plant earlier this week, but it has since revised that number higher and expanded the temporary layoffs at the Oshawa plant. "Our focus is to keep our Canadian operations running and we successfully did that this week, in some capacity, with all three facilities running all week", Ms.

Money Trump wants full trade deal with China, not a partial one
Author: 0 Trump wants full trade deal with China, not a partial one

But they will at least be saved from the ravages of President Donald Trump's trade war. We're looking for the big deal. "It's more in consideration of the trade war impact on the domestic United States economy than a concession to China , but this could still help build some goodwill before the trade talks in October", he continued.

Money Trump says U.S. has sanctioned Iran's central bank
Author: 0 Trump says U.S. has sanctioned Iran's central bank

The U.S. and the Saudis blamed the September 14 attack on Iran, which backs the Houthi rebels fighting a Saudi-led military coalition in Yemen . The US Secretary of State Mike Pompeo visited allies Saudi Arabia and the UAE to talk to their leaders.

Money 'Mr Corbyn, what do you believe - Remain or leave with a deal?'
Author: 0 'Mr Corbyn, what do you believe - Remain or leave with a deal?'

The comments come just days before Labour's annual party conference where Mr Corbyn is expected to come under heavy pressure to take a stronger pro-Remain stance. A simple thing to do when you have only 18 MPs. The party has made headlines at its autumn conference for its policy of scrapping Brexit without a referendum if it wins a majority at the next general election.

Money Bank of England set to hold rates as Brexit uncertainty reigns
Author: 0 Bank of England set to hold rates as Brexit uncertainty reigns

Brexit uncertainty has been weighing on business investment in particular, but it said the recent weakness in growth was due in part to a smaller boost than expected from vehicle production, after some manufacturers had shut down over the summer as well as in April.

Author: 0 Under-pressure India govt slashes corporate taxes

The Reserve Bank of India (RBI) - reportedly under government pressure - has cut interest rates four times this year to a nine-year low, while New Delhi has also announced the merger of 10 state banks to try to ease pressure on lenders. Uday Kotak, head of Kotak Mahindra Bank KTMS.NS, said on Twitter that reducing corporate tax rate to 25% is "big bang reform. It will arrest the downtrend in sentiment, and auto companies are among the highest tax payers, so this will help some of the ...

Author: 0 Saudi Arabia Reveals Damage to Giant Khurais Oil Field

Today construction workers were seen going flat out to fix oil facilities at Khurais - one of two oil sites belonging to Saudi Aramco - which were attacked last Saturday. The oil field, which has been targeted by militants in the past, is believed to produce over 1 million barrels of crude oil a day. Trump said that his administration was working with Saudi Arabia on the response to the attacks.

Money House intel chief says Facebook working on election threats
Author: 0 House intel chief says Facebook working on election threats

Republican Senator Josh Hawley told reporters he met with Zuckerberg and "challenged him to show that Facebook is serious about bias, privacy and competition". A Facebook spokesman said discussions were focusing in part on future internet regulation. Maria Cantwell (D-Washington) on Wednesday to discuss some online privacy legislation that she is drafting, and he had dinner with a group of senators on Wednesday evening.

Money USA vaping illnesses top 500, Missouri man is 8th death
Author: 0 USA vaping illnesses top 500, Missouri man is 8th death

It's unclear how effective this would be: the FDA has issued warnings already about using flavors to target young people and companies have said they made changes to address the FDA's concerns. In addition to the new numbers, officials have also revealed that the FDA's Office of Criminal Investigations has been probing the matter alongside the ongoing public health investigation.

Money WeWork hopes for IPO by end of 2019
Author: 0 WeWork hopes for IPO by end of 2019

On Friday, We attempted to course correct further. Indeed, The We Co amended its original S-1 filing, to change its high-vote stock from 20 votes to only 10 votes per share. Visit MarketWatch.com for more information on this news. In September, We recruited HBS professor Frances Frei to its board, following criticisms for having an all-male board of directors.

Money [Graphic News] Aramco is the biggest oil firm in the world
Author: 0 [Graphic News] Aramco is the biggest oil firm in the world

Those would heighten the risks that bankers say are just a cost of doing business in the region and that some analysts say are being ignored for the sake of completing this trophy transaction. In another interview with Saudi television channel Al-Arabiya, Al Jadaan said he sees a potential bond issuance before the end of the year and expects the kingdom's 2019 budget deficit to be "close to forecasts".

Money Global growth to hit 11-year low OECD
Author: 0 Global growth to hit 11-year low OECD

The prognosis for 2020 was lowered to 3.0 percent from 3.4 percent. Slowing trade flows and business investment are the most obvious signs that trade disputes are taking a toll on global growth. The services sector has proved unusually resilient to the malaise so far, but the OECD warned that "persistent weakness" in industry will weigh on the labour market, household incomes and spending.

Money Saudi Aramco attacks: What we know so far
Author: 0 Saudi Aramco attacks: What we know so far

Why does it matter? Pompeo and others will travel to Saudi Arabia soon, Trump said . Faced with a possible disruption to the US energy supply, Trump said Sunday that he has authorized the release of oil from the U.S. "Saudi Arabia oil supply was attacked". Saudi Arabia has asserted that this weekend's attacks used Iranian weapons but hasn't directly accused Iran of being behind them.

Money Iran envoy: 'All-out war' to result if hit for Saudi attack
Author: 0 Iran envoy: 'All-out war' to result if hit for Saudi attack

Among the Western financiers working on the IPO are JPMorgan, Goldman Sachs, Morgan Stanley and Credit Suisse. By the end of September, bin Salman said, Saudi Arabia would have 11 million bpd in production capacity and by the end of November, it would be 12 million bpd.

Money Novartis has halted distribution of generic Zantac
Author: 0 Novartis has halted distribution of generic Zantac

Over-the-counter ranitidine is approved to prevent and relieve heartburn associated with acid ingestion and sour stomach. The likely carcinogen found in the drug, ranitidine, is called N-Nitrosodimethylamine, or NDMA. Patients taking prescription ranitidine who wish to switch to another medication should consult their physicians, the FDA said. Individuals taking a prescription ranitidine drug, including a recalled product, should not stop taking it unless they have spoken to their ...

Money Pound Canadian Dollar: BoE and UK Supreme Court Ruling in Focus Today
Author: 0 Pound Canadian Dollar: BoE and UK Supreme Court Ruling in Focus Today

The bank's next scheduled interest rate decision is November 7, a week after the scheduled Brexit date. Juncker said the European Union was open to alternatives to the backstop, as long as they had the same effect - preserving peace by avoiding a hard border, protecting the integrity of the single market and safeguarding the all-Ireland economy.

Money Apple takes fight against 13-billion-euro EU tax order to court
Author: 0 Apple takes fight against 13-billion-euro EU tax order to court

In point of fact, back in the August of 2016, the EU Commission had ruled that a tax loophole in Ireland had helped Apple Inc. artificially reduce its tax burden for more than two decades, which EU labelled as an illegal tax aid at that time and fined the U.S.

Money Trump suggests Iranian role in Saudi oilfield Strikes
Author: 0 Trump suggests Iranian role in Saudi oilfield Strikes

There were fears that the rising tensions could spark a military conflict in the Gulf between Iran and the United States or Saudi Arabia. It is "inevitable" that spikes in the price of oil as a result of attacks on Saudi Arabian facilities at the weekend will drive up the price of air cargo.

Money The European Central Bank Cuts Rates, Relaunches Bond Purchases
Author: 0 The European Central Bank Cuts Rates, Relaunches Bond Purchases

The single currency fell as low as US$1.0925 immediately after the ECB's announcement on Thursday. The central bank for the 19 Eurozone countries said it would cut the rate on deposits - a penalty rate that pushes banks to lend excess cash - from minus 0.5 per cent to minus 0.4 per cent in its latest quantitative easing efforts.

Money Telsa Model 3 storms the charts, becomes best-selling vehicle in the Netherlands
Author: 0 Telsa Model 3 storms the charts, becomes best-selling vehicle in the Netherlands

The auto managed to avoid collisions in both the 12 miles per hour and 25 miles per hour IIHS track tests, but also scored high when it comes to the available headlights. " Vehicles with alternative powertrains have come into their own ", said in a statement IIHS Chief Research Officer David Zuby. " There's no need to trade away safety for a lower carbon footprint when choosing a vehicle ".

Money LSE rejects $37 billion Hong Kong exchange bid
Author: 0 LSE rejects $37 billion Hong Kong exchange bid

Its withering put-down comes after HKEX launched its surprise cash-and-shares takeover bid on Wednesday in a move set to disrupt the LSE's planned 27 billion United States dollars (£21.9 billion) deal to buy data provider Refinitiv. The flat rejection indicates HKEX boss Charles Li is unlikely to win the LSE board round with an improved financial offer, meaning he may have to go hostile if he wants to persist.

Money France and Germany Want to Nix Libra
Author: 0 France and Germany Want to Nix Libra

Marcus's impromptu defense of Libra likely came as a response to both French and German finance officials who said they would not allow Libra to move forward in Europe. "I sincerely hope that the people of Europe will not be tempted to leave behind the safety and soundness of established payment solutions and channels in favour of the beguiling but treacherous promises of Facebook's siren call", said European Central Bank board member Yves Mersch.

Money Disney's Iger steps down from Apple board
Author: 0 Disney's Iger steps down from Apple board

Goldman is merely the latest example of growing caution as it cut its price target to one of the lowest on the Street. Apple knows that it will have a very limited library. Iger added that he would continue to be careful to recuse himself from any meetings where Apple TV+ was a point of discussion, but said at the time that it hadn't happened all that often, but that he would remain "mindful of [his] fiduciary responsibility to Apple shareholders".