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Economy

Amazon's spending typically climbs in the July through September quarter, pressuring profits as the company prepares for Christmas and the winter holidays, its peak sales period for the year. Earnings per share reached $5.07, doubling Thomson Reuters estimates of $2.50 per share and generating a record $2.5 billion in net income for the quarter.
  • Brics investment deals good news for poor South Africans

    Brics investment deals good news for poor South Africans

    Economy

    Chinese President Xi Jinping and Rwanda's President Paul Kagame address a news conference in Kigali, Rwanda July 23, 2018. "A global trade war should be rejected because there will be no victor", said Xi, who oversees the world's second-largest economy, and whose nation is dominant in the BRICS bloc.
  • Alphabet bulls looking for earnings spark from FANG laggard

    Alphabet bulls looking for earnings spark from FANG laggard

    Economy

    Remove the fine and Alphabet's earnings rise to $11.75 per share and net income soars from $3.2 billion for the quarter up to $8.3 billion. TAC, an important metric in Google's ad business, crept up to 23% of ad revenue in Q2, up slightly from the 22% reported during the same period previous year.
  • Mega Millions jackpot hits $512 million; drawing tonight

    Mega Millions jackpot hits $512 million; drawing tonight

    Economy

    If nobody wins Tuesday night, lottery officials say the jackpot could top $630 million for the next drawing on Friday. Tickets cost $2 with an optional "Megaplier" that costs $1 more and multiplies every prize except the jackpot. If Tuesday evening's victor takes the cash option, that will net them $303 million. In the 22 drawings since, there have been 26 match 5 winning tickets worth at least $1 million, and 432 third-tier winning tickets worth $10,000 or more, according to the West ...
  • Trump plan will aid farmers hurt by tariffs

    Trump plan will aid farmers hurt by tariffs

    Economy

    President Donald Trump is planning to provide a whopping United States dollars 12 billion emergency financial aid to farmers who have been hit by retaliatory tariffs on agricultural products imposed by trading partners like China, India and the European Union, according to media reports.
  • China bond yields, stocks up as Beijing signals policy shift

    China bond yields, stocks up as Beijing signals policy shift

    Economy

    The world's second-largest economy grew more slowly in the second quarter and June factory output growth weakened to a two-year low, pointing to weaker exports and investment. Fear that USA and Japanese policymakers will scale back economic stimulus sent quivers through debt markets on Monday, while US stocks gained ahead of major company earnings reports.
  • Iran to US: Do Not Play with the Lion’s Tail

    Iran to US: Do Not Play with the Lion’s Tail

    Economy

    Rouhani had addressed the usa president at a gathering of Iranian diplomats with threats including "the other of all wars". On Monday, a senior officer in Iran's Revolutionary Guards, Commander General Gholam Hossein Gheibparvar, described Trump's remarks as "psychological warfare", the semi-official ISNA news agency reported .
  • Trump now says no 'time limit' to denuclearize North Korea

    Trump now says no 'time limit' to denuclearize North Korea

    Economy

    It may take some time to get where we need to go. "We have no speed limit", the United States president told reporters . Kim Hong-gul spoke to reporters at Beijing Airport on Thursday after returning from a 4-day trip to North Korea . However, Trump last week signaled optimism, unveiling a letter from Kim in which the young leader hailed the "start of a meaningful journey" and tweeting "Great progress being made!" Earlier in June, US broadcaster NBC News reported that US intelligence ...
  • Trump threatens tariffs on all US$505 billion of Chinese imports

    Trump threatens tariffs on all US$505 billion of Chinese imports

    Economy

    Trump, in the CNBC interview on Friday , said he was ready to impose tariffs on all $500 billion of imported goods from China , potentially further escalating a trade clash. Fed spokeswoman Michelle Smith declined to comment. Powell has downplayed concerns about Trump's politicizing the Fed. St. Louis Federal Reserve Bank President James Bullard said Trump's comments would have no bearing on interest rate decisions, which are made by a committee made up of government officials and ...
  • FCA CEO Sergio Marchionne Leaves Post Amid Health Crisis

    FCA CEO Sergio Marchionne Leaves Post Amid Health Crisis

    Economy

    Though he has ruffled feathers at Maranello, Marchionne has been instrumental in seeing the Italian team's revival as it once again becomes a serious title contender, at the same time he has bought the legendary Alfa Romeo name back to F1. "The Board resolved to accelerate the CEO transition process that has been proceeding over the past months". He asked everyone to respect Marchionne's "privacy and that of all those who are dear to him".