BMW second-quarter hit by rising costs of manufacturing, emissions

BMW stuck to its outlook even as second quarter earnings fell 48%, hit by the rising cost of manufacturing, currency headwinds and emissions limits.

from Reuters: Business News https://ift.tt/2Ye4SZo

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Chinese billionaire indicted in U.S. for alleged $1.8 billion aluminum tariff evasion

A Chinese billionaire has been indicted by a grand jury on charges he schemed with the aluminum company he founded to evade $1.8 billion of tariffs by smuggling huge amounts of the metal into the United States, federal prosecutors said on Wednesday.

from Reuters: Business News https://ift.tt/2SViQJG

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Manufacturing pain spreads through Asia, more stimulus seen ahead

Asian factory activity contracted further in July, fuelling worries that a Sino-U.S. trade war and a slowdown in China could tilt the world toward a global recession, which central banks will have to fight with depleted ammunition.

from Reuters: Business News https://ift.tt/2yyPMy9

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Trump tariffs 'not hitting Chinese economy'

The US president's former chief economic adviser says the trade war affects the US more than China.

from BBC News - Business https://ift.tt/2Ke0OhU

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Oil slips 1% after Fed disappoints, U.S. crude output rises

Oil prices skidded on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes for a string of interest rate cuts and Sino-U.S. talks ended without apparent progress towards resolving a bitter trade dispute.

from Reuters: Business News https://ift.tt/2GFh4aB

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Democrats pass up chance to dent GM on job cuts in Detroit debates

Detroit-based General Motors Co emerged from two days of Democratic debates in its hometown largely unscathed as 2020 White House hopefuls largely passed up an opportunity to criticize it for significant job cuts in recent months.

from Reuters: Business News https://ift.tt/337BoeH

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Seeds of London Stock Exchange deal planted at flower show

The London Stock Exchange Group Plc’s expected $27 billion purchase of financial-data business Refinitiv has its origins in May 2013, amid the crocuses, champagne and corporate hobnobbing of London’s Chelsea Flower Show.

from Reuters: Business News https://ift.tt/2ZokkP3

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US accuses Chinese billionaire of evading $1.8bn in tariffs

Liu Zhongtian is alleged to have been part of a complex scheme to smuggle aluminium into the US.

from BBC News - Business https://ift.tt/2MtXIcf

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Asian shares stumble, dollar firms as Fed dampens bets on more rate cuts

Asian shares fell to six-week lows on Thursday while the dollar jumped to two-year highs as the U.S. Federal Reserve poured cold water on market expectations of a lengthy easing cycle following a 25 basis-point rate cut.

from Reuters: Business News https://ift.tt/2YDGVtG

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Asian factories suffering, more stimulus seen ahead

Asian factory activity contracted further in July, fuelling worries that a Sino-U.S. trade war and a slowdown in China could tilt the world toward a global recession, which central banks will have to fight with depleted ammunition.

from Reuters: Business News https://ift.tt/31b90qe

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Amazon in talks to buy stake in India's Reliance Retail: ET

Amazon.com Inc is in exploratory talks with Reliance Industries Ltd-owned Reliance Retail for buying up to 26% stake in India's biggest brick-and-mortar retailer, the Economic Times (ET) reported (https://ift.tt/2yw9mLq) on Thursday.

from Reuters: Business News https://ift.tt/2Zq2uLI

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Amazon in talks to buy stake in India's Reliance Retail: ET

Amazon.com Inc is in exploratory talks with Reliance Industries Ltd-owned Reliance Retail for buying up to 26% stake in India's biggest brick-and-mortar retailer, the Economic Times (ET) reported https://ift.tt/2yw9mLq on Thursday.

from Reuters: Business News https://ift.tt/2YzJbOJ

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Asian shares fall, dollar firms as Fed dampens bets on more rate cuts

Asian shares fell to six-week lows on Thursday while the dollar jumped to two-year highs as the U.S. Federal Reserve poured cold water on market expectations of a lengthy easing cycle following a 25 basis-point rate cut.

from Reuters: Business News https://ift.tt/2YtzLEo

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Crown Resorts takes out newspaper ads in attack on 'deceitful campaign'

Australian casino giant Crown Resorts issued full-page newspaper ads on Thursday describing recent media reports that alleged it pressured officials to fast-track visas for Chinese gamblers as a "deceitful campaign".

from Reuters: Business News https://ift.tt/2K6yi2Q

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Facebook, Google could harm the entire economy: Roger McNamee

Facebook, Google could harm the entire economy: Roger McNamee



Early Facebook investors and “Zucked” author Roger McNamee discusses the dangers of Facebook and why the government should regulate the social media company.

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UK's Pearson notifies thousands of U.S. students of data breach

British education company Pearson Plc on Thursday said it has notified customers of a data breach that resulted in unauthorized access to about 13,000 school and university accounts, mainly in the United States.

from Reuters: Business News https://ift.tt/2YAUb2n

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