• Business

No-sugar drinks and innovations power Coke in 3Q

Business 10/18/19, 06:36

Coca-Cola reported strong third quarter sales as it makes strides with new drinks like Coca-Cola Plus Coffee and no-sugar drinks. Revenue jumped 8% to $9.51 billion, edging out Wall Street expectations for $9.48 billion, according to a survey by Zacks Investment Research. The Atlanta company continues to book double-digit volume growth with ...

Two Chinese citizens accused of manipulating the market and deceiving the population

U.S. 10/17/19, 13:17

Two Chinese citizens were charged Tuesday, Oct. 15, with allegedly participating in a complex market manipulation conspiracy, according to a statement issued by the U.S. Department of Justice. Xiaosong Wang, 31, and Jiali Wang, 41, both from China, were charged with a stock spoofing conspiracy. According to the complaint, Xiaosong Wang, Jiali ...

Germany ignores European Union national security risk warning on Huawei

World 10/16/19, 15:25

German Chancellor Angela Merkel would allow Huawei's 5G technology in her country, ignoring the EU's warning about the risk of espionage presented "when there are no democratic and legal restrictions" by component suppliers. The German Federal Network Agency published a draft of new security requirements for telecommunications networks on Oct. 15 ...

Companies welcome US-China trade truce, warn disputes remain

Business 10/12/19, 02:21

Companies have welcomed a U.S.-Chinese trade truce as a possible step toward breaking a deadlock in a 15-month-old tariff war, while economists caution there was little progress toward settling core disputes including technology that threaten global growth. President Donald Trump said Washington will suspend a tariff hike planned for Tuesday on ...

The federal budget deficit for 2019 is estimated at $984 billion

U.S. 10/07/19, 21:11

The federal deficit rose to $984 billion in fiscal year 2019, an increase of $205 billion, the Congressional Budget Office (CBO) estimated on Monday, Oct. 7. Relative to the size of the economy, the deficit—at an estimated 4.7% of gross domestic product (GDP)—was the highest since 2012, and this year was ...

Samsung ceases smartphone production in China despite vast market

Business 10/04/19, 14:19

Samsung Electronics, the world's largest smartphone maker, admitted its defeat in China when it announced this week it shut down the last phone factory there despite the vast market. Production at the Huizhou factory ended last month, The Associated Press citing Samsung said in an email Friday, Oct. 4. The company said ...

Would you pay $1,050 to live in a shed in a San Diego backyard?

Business 10/03/19, 18:25

Renters in San Diego could be in for a case of sticker shock when a shed is taking things to the next level, boasting a rental price of $1,050 a month. A listing recently posted online advertises a 200-square-foot studio having plumbing, an air conditioner, stove and small refrigerator but not having a washer ...

US blocks goods from companies suspected of forced labor

Business 10/02/19, 03:36

The Trump administration on Tuesday announced it is holding imports of clothing, gold, diamonds and other items believed to have been produced with forced labor by companies based in Brazil, China and Malaysia as well as some gold mined in eastern Congo and diamonds from a region in Zimbabwe. An official ...

US manufacturing slumps in Sept, President Trump blames Fed’s strong dollar

U.S. 10/01/19, 13:27

President Donald Trump is again holding the Federal Reserve accountable for a slump in U.S. manufacturing. He attributed the undermining of the competitiveness of American goods to the strong dollar triggered by the Fed's high interest rate. In a tweet Tuesday, he said: As I predicted, Jay Powell and the Federal Reserve have ...

President Trump: ‘Great jobs coming back to America’

U.S. 10/01/19, 05:21

President Trump praised the announcements of new investments and new jobs in the auto and tech industries in the country. One of the investments is a $4 billion joint venture of auto giants Hyundai, Kia and Aptiv to develop driverless car technologies in the United States, bringing "great jobs" to Americans. "BIG ...

Trump administration mulls delisting Chinese companies from US exchanges

U.S. 09/28/19, 12:54

The White House is mulling over delisting Chinese businesses from American stock exchanges in a broader effort to limit U.S. investors’ portfolio flows into China, some news media reported. Reuters cited one source saying President Trump’s administration is considering that move amid growing security concerns about Chinese companies’ activities. Bloomberg also reported ...

Trump warns of stock market crash ‘If I’m impeached’

U.S. 09/26/19, 15:33

President Donald Trump warned on Thursday morning, Sept. 26, that stock markets will crash should he be impeached, following the formal impeachment inquiry Tuesday filed by House Democrats. The stock market saw a decrease after House Speaker Nancy Pelosi’s (D-Calif.) announcement of an impeachment inquiry, with the Dow Jones Industrial Average ...