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Facebook has revealed that millions of email addresses, phone numbers and other personal user information were compromised during a recent security breach. They used an automated technique to move from account to account so they could steal the access tokens of those friends, and for friends of those friends, and so on, totalling about 400,000 people.
  • SEC Lawsuit Against Musk Wiped $7.3 Billion From Tesla’s Market Value

    SEC Lawsuit Against Musk Wiped $7.3 Billion From Tesla’s Market Value

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    Tesla will also name two new, independent directors to its board. Musk and Tesla each will pay a penalty of US$20 million, with the total US$40-million penalties to be "distributed to harmed investors under a court-approved process". The SEC had charged Musk with fraud in response to his tweet in August suggesting he could take Tesla private at $420 (around Rs 30,581) a share, a substantial premium at the time, and had secured funding to do so.
  • Elon Musk Resigns As Chairman Of Telsa

    Elon Musk Resigns As Chairman Of Telsa

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    Securities and Exchange Commission (SEC ) in a settlement that includes removing Musk as chairman at Tesla , and Musk and Tesla paying fines , the SEC said on Saturday in what analysts see as one of the fastest such settlements. The appointment of two new Board members, as well as the creation of a committee tasked with "placing additional controls and procedures to oversee" Musk's communications, were warmly received by the Tesla community as well.
  • Tweet storm: Musk quits as chairman over false claims

    Tweet storm: Musk quits as chairman over false claims

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    Tesla in recent years has become one of the most valuable American auto maker, with its stock worth more than $50 billion. On Friday, its stock dropped nearly 14 per cent. Tesla's free cash flow in the second quarter totaled negative $739.5 million, bringing the company to a net loss of $717.5 million, the company reported in August.
  • Trump blasts OPEC ahead of World Oil Outlook summit

    Trump blasts OPEC ahead of World Oil Outlook summit

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    On Thursday, Trump linked American support for Middle Eastern countries to oil prices as he again urged OPEC to lower prices. Because of these concerns, the worldwide benchmark, the Brent crude futures were up by 2 cents to trade at $79.05 per barrel after having gained 1.3% the day before.
  • China won't weaken currency to boost exports, premier says

    China won't weaken currency to boost exports, premier says

    Markets

    China has also pledged to buy soybeans from other countries, but replacing voluminous American supplies will be hard. China announced Tuesday tariffs on U.S. But its options for responding further are getting increasingly complicated. Trump has promised that if China does retaliate, then he will not hesitate to slap tariffs on an additional $267 billion of Chinese goods.
  • Coca-Cola Reportedly Interested In The Cannabis Drink Industry

    Coca-Cola Reportedly Interested In The Cannabis Drink Industry

    Markets

    Regardless, Coke's interest in the marijuana industry is significant. Coca-Cola is one of the most recognized brands in the world, but it could soon be known for more than just fizzy drinks. The new beverages will be pegged to drinkers who suffer with inflammation, pain or cramping. CBD has been used for medical purposes to ease nausea and pain and does not produce a high for users.
  • Trump ratchets up tariff talk as key week looms for trade

    Trump ratchets up tariff talk as key week looms for trade

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    United States officials point to Beijing's long-range development plan, "Made in China 2025", which calls for creating powerful Chinese entities in such areas as information technology, robotics, aerospace equipment, electric vehicles and biopharmaceuticals.
  • Oil slips as economic concerns outweigh tighter supply

    Oil slips as economic concerns outweigh tighter supply

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    Washington will consider waivers for Iranian oil buyers such as India but they must eventually halt crude imports from Tehran , US Secretary of State Mike Pompeo said last week in New Delhi after a meeting of high level officials. "The price action of yesterday confirms $80.00 a barrel as a strong resistance line in Brent ", consultancy Petromatrix said in a research note. Traders also continued to watch for any impact on the energy market from Hurricane Florence.
  • 9/11 anniversary gives perspective to NAFTA impasse: Freeland

    9/11 anniversary gives perspective to NAFTA impasse: Freeland

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    It also wants to continue protections for its dairy industry and defend lumber exports to the United States, which have been hit with duties. President Donald Trump warned Friday that he would impose 20-per-cent tariffs on auto imports from Canada if it does not agree to a "fair" deal, a move he said would bring "ruination" here.
  • Increasing Continuously Fuel prices reach new high

    Increasing Continuously Fuel prices reach new high

    Markets

    Diesel was priced at Rs 77.47 per litre in Mumbai on Tuesday. The government is of the view that a weak rupee along with high worldwide crude oil prices can impact fiscal deficit as well as current account deficit. Condemning the statement of the union petroleum minister Dharmendra Pradhan that the petroleum prices were increased due to hike petroleum prices in worldwide market and increase in Value-Added Tax by state governments, Naidu said such statements were far from truth and were ...
  • Obama tells voters to step up or things can get worse

    Obama tells voters to step up or things can get worse

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    While Trump was "napping", Obama , in his speech called Trump a "symptom" of the country's "dangerous" times . Former President Barack Obama speaks as he campaigns in support of California congressional candidates, on September 8, 2018, in Anaheim, California .
  • Doubling of China trade tariffs 'ready to go'

    Doubling of China trade tariffs 'ready to go'

    Markets

    The administration could decide to begin taxing the imports - equal to almost 40 percent of all the goods China sold the United States a year ago - after a public comment period ends on Thursday. All Apple had to do to avoid import taxes was to rebuild all of its manufacturing in the U.S. "Start building new plants now", he tweeted. By 2021, based on International Monetary Fund economic forecasts, the US would lose about 1 percent of its annual output or about $230 billion while China ...
  • China's richest man Jack Ma to retire early at 54

    China's richest man Jack Ma to retire early at 54

    Markets

    While Ma sees himself as an accidental executive who only entered the business world with Alibaba's founding nearly 20 years ago, he has become one of China's most recognized corporate leaders. Ma said the move will be " the beginning of an era " and revealed that he may now focus on education, which he " loves ". Today, Alibaba's empire encompasses e-commerce, online banking, cloud computing, digital media and entertainment - and even a corporate messaging service similar to Slack.
  • 380,000 card details stolen

    380,000 card details stolen

    Markets

    BA has notified its customers and advised them to contact their bank or card providers. It added that no future bookings will be affected. The National Crime Agency (NCA) said: "We are aware of reports of a data breach affecting British Airways and are working with partners to assess the best course of action".
  • Oil steady on high OPEC supply ahead of Iran sanctions

    Oil steady on high OPEC supply ahead of Iran sanctions

    Markets

    Read the full report at the AP. " Crude oil export losses from Iran due to USA sanctions, production decline in Venezuela and episodic outages in Libya are unlikely to be offset entirely by corresponding rises in Opec + production", Tchilinguirian said, referring the Organisation of the Petroleum Exporting Countries and countries including Russian Federation that reached a deal to curb output to counter low prices.
  • Ramaphosa says Chinese aid is not 'new colonialism'

    Ramaphosa says Chinese aid is not 'new colonialism'

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    According to data from John Hopkins University's China Africa Research Initiative, China has already loaned around $125 billion to the continent between 2000 and 2016. Every African country is represented at the business forum apart from eSwatini, self-ruled Taiwan's last African ally that has so far rejected China's overtures to ditch Taipei and recognize Beijing .
  • U.S. Congress skeptical of Trump's Mexico trade deal

    U.S. Congress skeptical of Trump's Mexico trade deal

    Markets

    Auto manufacturing: The new deal would require that 75% of the parts in any vehicle sold in North America be produced in the United States or Mexico. President Trump on Tuesday renewed his pledge to build a border wall paid for by Mexico, prompting a sharp rebuttal from the Mexican government one day after both countries announced plans for a sweeping new trade agreement.
  • US, Trump, Mexico NAFTA trade deal: auto, agricultural details

    US, Trump, Mexico NAFTA trade deal: auto, agricultural details

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    Trump strongly campaigned on the issue of repealing or completely redoing NAFTA, a trade deal he argues was "terrible" for the United States and destroyed manufacturing in states across the country. The US trade representative's office officially described the agreement as "a preliminary agreement in principle.to update the 24-year-old NAFTA with modern provisions representing a 21st century".
  • US softens stance on NAFTA sunset clause: Mexican official

    US softens stance on NAFTA sunset clause: Mexican official

    Markets

    A day earlier, President Donald Trump declared in a Twitter message that a resolution was near. The president and his aides have hailed a renegotiated trade agreement with South Korea as one major victory. manufacturing jobs but which in fact has helped the USA auto sector prosper. Trump has threatened to walk out of the pact in the absence of an agreement that is more favorable to US interests.
  • Shares rise on steady-as-it-goes line from Jackson Hole

    Shares rise on steady-as-it-goes line from Jackson Hole

    Markets

    St. Louis Federal Reserve President James Bullard said Friday that the central bank should hold off on rate hikes for the rest of 2018, while Cleveland Fed President Loretta Mester backed further increases. "Guiding policy by the stars in practice, however, has been quite challenging of late because our best assessments of the location of the stars have been changing significantly", Powell said.
  • China shipowners stop hauling Iranian oil as U.S. sanctions near

    China shipowners stop hauling Iranian oil as U.S. sanctions near

    Markets

    The actual report was a build rather than a draw due to higher than normal crude oil inputs to the refineries. The port district of Houston-Galveston accounted for 12 percent of total US crude oil imports as of May. A weaker dollar makes oil less expensive for buyers using other currencies. Moreover, oil-tanker owners are seen staying away from hauling Iranian supplies because of the risk of being cut off from the booming business of transporting crude pumped from shale fields in Texas or ...
  • New tariffs stanch 5-day US dollar slide, Jackson Hole begins

    New tariffs stanch 5-day US dollar slide, Jackson Hole begins

    Markets

    Talks between U.S. and China officials in Washington over trade will continue on Thursday , although most analysts do not expect much headway to be made. Similarly, Esther George , head of the Kansas City Fed , said she expects the central bank to raise rates twice more this year, with more next year.
  • Sears Holdings is closing another 46 stores, including one in Michigan

    Sears Holdings is closing another 46 stores, including one in Michigan

    Markets

    Associates displaced by the closures will be able to apply for open positions at area stores, Sears Holdings said . One location in MI is on the chopping block: Sears at the Jackson Crossing Shopping Center off I-94 in Jackson. It may not be over, either, the company implied in its statement announcing the closures . Lampert has described the deal as "critical" for Sears.
  • Most Americans favor diplomacy over sanctions for Russian Federation

    Most Americans favor diplomacy over sanctions for Russian Federation

    Markets

    In a statement published on the Russian Foreign Ministry website, Ryabkov said the latest sanctions were introduced under a "false pretense". The Treasury Department is going after two companies and two Russians suspected of trying to circumvent US sanctions imposed in June in response to cyberattacks and other malicious activities run by Moscow's military and spy services.
  • China trade talks end with no breakthrough as tariffs kick in

    China trade talks end with no breakthrough as tariffs kick in

    Markets

    Meanwhile, a Reuters poll of more than 100 economists shows that majority expect economic growth to slow over the next two quarters as the boost created by last year's tax cuts fades and Americans begin to feel the costs of the tariffs. "You are great", said a presenter on the almost three-minute-long English-language clip, reading a letter that pays a satirical tribute to Trump. China has said its own tariffs on a list of US$16 billion worth of imports from the United States would be ...
  • Trump backs CEOs, proposes easing corporate reporting rules

    Trump backs CEOs, proposes easing corporate reporting rules

    Markets

    A top criticism is that if companies are striving to report profit gains every quarter, they are more likely to buy back shares and cut costs than invest in their businesses. "The difficulty in making better long-term decisions away from a quarterly reporting cycle certainly stands out as being beneficial", said Art Hogan at investment bank B.
  • United States threatens Turkey with more sanctions if it doesn’t free pastor

    Markets

    U.S. Treasury Secretary Steven Mnuchin told Trump at a cabinet meeting on Thursday that more sanctions were ready to be put in place if Brunson were not freed. The Turkish lira stood at 5.80 per dollar on Friday, up about 0.4 per cent against the dollar. Erdogan has cast the tariffs, and the sell-off in the lira, as an "economic war" against Turkey.
  • Crude oil futures higher on expected stock draw, OPEC report

    Crude oil futures higher on expected stock draw, OPEC report

    Markets

    Under the production cuts initiated in January, Saudi Arabia's quota is 10.058 million barrels a day. Russian oil producers have already returned oil production to record levels this year and will boost crude production further next year thanks to the launch of several greenfield projects, the Organization of Petroleum Exporting Countries (Opec) said in a report on August 13.