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House GOP backs bill to undo much of Dodd-Frank

The House passed a bill Thursday that would repeal significant parts of Dodd-Frank and make substantial changes to the Consumer Protection Financial Bureau. It would roll back a proposed rule that investment advisers put their clients' interests ahead of their own. It could provide a blueprint for regulators to rewrite the rules. Read More »

No excuse for firms not being ready for GST: FM


Deve Gowda will be among those who will attend the special event, Finance Minister Arun Jaitley told a press conference in New Delhi . Jaitley said GST over the medium to long term will lead to higher revenues to Centre and states while also increasing the size of the economy and having a positive impact on the GDP. Read More »

Ford Scraps Mexico Expansion, But There's a Catch


The Michigan plant now producing Ford Focus cars will switch to making trucks in 2018, it said. Ford will remain a net exporter to China, even after it begins importing Focus models to the U.S., Hinrichs said. The move doesn't signal a broader shift of other Ford models to China, where workers are paid less than they are in Mexico, Hinrichs said. Meanwhile, Tesla is close to an agreement to produce its electric cars in China for the first time, Bloomberg reported Monday . Read More »

After UK Election, The Only 'Certainty' In Britain Is Uncertainty

But despite jubilation among Mr Corbyn's supporters at bloodying Mrs May' s nose, Labour MP Chris Leslie said the party should not pretend it achieved a "famous victory". "It is the policy of both the Conservative party and the UK Labour party to respect the Brexit referendum result". George Osborne, the former finance minister who stepped down at the election, told ITV that the results were "catastrophic" for his party. Read More »

United States stocks open higher as tech stocks rebound


The Nasdaq gained 87.25 (+1.42 percent) to close at 6,239.01, while the S&P 500 finished at 2,453.46, up 20.31 (+0.83 percent) from its open. Apple ( AAPL .O) rose 2.9 percent to $146.34, providing the biggest boost to the S&P followed by JPMorgan Chase (JPM.N), which rose 2.2 percent to $88.07. Read More »

Amazon purchase makes grocery wars hotter

The transaction is subject to approval by Whole Foods Market's shareholders, regulatory approvals and other customary closing conditions, but the parties expect to close the transaction in the second half of 2017, it added. The market reverberations of the announced deal traveled beyond the retail industry - shares of food companies like Hershey and Campbell Soup slid, too. Read More »

E3 2017: Microsoft isn't making a profit on the Xbox One X

That has always been the plan", Spencer said. However, talking after the show during an interview, Phil Spencer confirmed that they won't be releasing too many games from the original Xbox because it is a huge technical challenge they have to overcome. Read More »

Suspected Jihadists Attack Resort Outside Mali's Capital


The statement said a Malian anti-terror force was on the scene. "Unfortunately for the moment there are two dead, including a Franco-Gabonese". "Campement Kangaba is blocked off and an operation is under way", Security Ministry spokesman Baba Cisse said by telephone. Read More »

Woman who stormed stage during 'Julius Caesar' is arrested


The duo was quickly removed by security, but not before really making people think about the consequences and dangers of political violence, which they were already doing, because-as pointed out in a note the theater itself has posted-that's the whole point of Julius Caesar . Read More »

Walmart to acquire online men's clothing retailer Bonobos

However, even as Bonobos had become a more conventional retailer, it had maintained its online ethos, offering generous shipping and return policies. "Adding innovators like Andy will continue to help us shape the future of Walmart, and the future of retail". Read More »

Sensex down 58 points; NIfty settles below 9650


In mainland China, the Shanghai Composite and Hong Kong settled higher by 0.19% to 0.36%. The Nifty of the National Stock Exchange ( NSE ) rose by 19.05 points or 0.20 per cent to 9,682.95 points (around 9.20 a.m.). "Investors will now look forward to emerging confidence among industry participants as GST rollout approaches", Anand James, Chief Market Strategist, Geojit Financial Services Ltd said. Read More »

Odd Market Reaction to Hawkish Fed Has Two Explanations

Earlier Thursday, the U.K. Office for National Statistics said retail sales fell 1.2% in May, compared to expectations for a 0.8% fall. The U.S. Once the Fed starts to normalize its balance sheet, the impact could remain minimal as the Fed plans to offload $6 billion in US Treasuries each month. Read More »

Global shares fall on Fed rate hike, UK rate outlook

By contrast, the European Central Bank last week poured water over expectations that it would start to roll back its own huge money-printing programme or raise interest rates in the near future. Persistent tightening and weaker economic performances could combine to trigger a deep correction in the U.S. stock market in the latter part of the second half. Read More »

Senior Uber exec Emil Michael is out


On Sunday, Uber directors weighed on a three-month leave of absence for Travis Kalanick, the 40-year-old CEO who founded the start-up and have turned it into a almost $70 billion entity, reports The News York Times . The company has more than 12,000 employees and more than 1.5 million drivers worldwide, who are classified as independent contractors rather than employees. Read More »

Why Netflix Decided to Back Net Neutrality After All


It downplayed the impact that a repeal would have on its business, and chief executive Reed Hastings said at an industry conference that it was time for others to pick up the mantle of net neutrality. And because Netflix was profitable enough to afford direct interconnection with ISPs like Comcast , it's still pretty clear Hastings believes that the fight for net neutrality is now the problem of smaller companies. Read More »

Markets Right Now: Grocer stocks plunge on Whole Foods deal


But what will it mean? "Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy", said Jeff Bezos, Amazon founder and CEO, in a statement . "I don't think Walmart is under as much pressure as other high-end grocers, such as Kroger , but you can never rule Amazon's impact out entirely", she said. Read More »

Amazon buying Whole Foods in bold move into brick and mortar

Whole Foods itself had launched an offshoot chain named after its "365" private label brand in a nod to the popularity of no-frills chains. According to a report from The New York Times , Amazon has bought the grocery chain Whole Foods for more than $ 13 billion . Read More »

Lacob: Warriors will keep Curry at any cost

ESPN proudly announced Tuesday the 2017 NBA Finals between Golden State and Cleveland on ABC was the most-watched NBA Finals since 1998, according to Nielsen. The Warriors already had Steph Curry (2 x NBA MVP), Klay Thompson ( NBA All-Star), Andre Iguodala ( NBA Finals MVP ) and Draymond Green ( NBA All-Star) in their line-up. Read More »

Reports say Mueller probe now examining possible obstruction

Trump had received private assurances from former FBI Director James B. Comey starting in January that he was not personally under investigation. Mueller III this week. Feinstein: Do you concur with the president he was going to fire Comey regardless of [the] recommendation because the problem was the Russian investigation? If confirmed, the news would mark a dramatic shift in the course of the investigation, which Mr Trump has so far sought to dismiss and brush away. Read More »

Greece gets $9.5 billion, plus promise of future debt relief


German Finance Minister Wolfgang Schaeuble , left, speaks with from right, European Commissioner for Economy Pierre Moscovici, Greek Finance Minister Euclid Tsakalotos , and French Finance Minister Bruno Le Maire during a meeting of eurogroup finance ministers at the European Council building in Luxembourg on Thursday. Read More »

Trump Weighs Firing Mueller, According To Confidante

Newsmax CEO Chris Ruddy , a friend of the president, told PBS' host Judy Woodruff on " NewsHour " that Mr. Trump was considering "perhaps terminating the special counsel". The new talk about dismissing Mueller appeared to be coming from Trump allies - including some close to White House strategist Steve Bannon - who are increasingly frustrated with the prospect of a long and winding probe. Read More »

Verizon takes over Yahoo in US$4.5 billion deal


The company not only plans to become the best partner to its advertising, publisher, and content partners, but also wants to emerge as the best consumer media business. And CEO Marissa Mayer, who famously left Google to take over the Purple Portal, is walking away from the company with almost $260 million. The $4.48 billion transaction will see Mayer receive a $186 million payout, according to previous Yahoo securities filings . Read More »

Stockpiles Fall Less Than Expected, Oil Prices Drop

Global oil output will expand faster than worldwide demand for oil next year, primarily as USA producers rack up production, and that could hamper exporters' efforts to prop up prices, the IEA said on Wednesday (Jun 14). "Indeed, based on our current outlook for 2017 and 2018, incorporating the scenario that OPEC countries continue to comply with their output agreement, stocks might not fall to the desired level until close to the expiry of the agreement in March 2018", the IEA said. Read More »

Iran blames USA for regional instability, creation of IS


Iran and the United States cut diplomatic ties shortly after Iran's 1979 Islamic revolution and enmity to Washington has always been a rallying point for hardline supporters of Khamenei in Iran. Seventeen people were killed, and more than 50 others were wounded. On Friday, however, he turned his wrath for the attacks on the United States and Saudi Arabia. Read More »

Saudi Arabia says airspace ban for Qatar flights was to protect citizens

Erdogan was to hold three-way phone talks on the crisis later Tuesday with French President Emmanuel Macron and Qatar's emir, Sheikh Tamim bin Hamad Al-Thani. Qatar, which imported vast majority of its food from bigger Gulf Arab neighbours before the diplomatic shutdown, has been cooperating with Iran and Turkey to secure food and water. Read More »

In Senate hearing, Jeff heatedly denies improper Russia contacts

Wyden, one of the Senate intelligence committee's most liberal members, lit into Sessions more than one hour into the hearing - prying into why Comey believed Sessions had been compromised. Amid the firestorm over Comey's dismissal, the Justice Department's Rosenstein appointed Mueller as special counsel to oversee the probe into Russian election interference and any collusion by Trump aides. Read More »

Puerto Ricans back full USA statehood but vote marred by low turnout

However, Commonwealth supporters disagree with the governor's statement about it being "the will of our people", because yes, 97% of the voters supported statehood; however, only about 23% of eligible voters went to the polls. The results of the newest referendum could lead to similar claims, Vargas said. However, Sunday's non-binding referendum, the fifth that the land has held on the issue, was marred by low voter participation. Read More »