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US Shutdown Become Longest in History, Economy Hits Low

14Jan By PriyankaNo Comments

USA

US Shutdown Become Longest in History, Economy Hits Low

The US government shutdown on Saturday became the longest in history and is taking a growing bite out of the world's largest economy with each passing day, economists say. While most of the 21 "lapses" in government spending since 1976 left barely a scratch on economic growth, the length of this shutdown makes it harder to say just how bad the impact could get. "It's not a hard stretch to say that initially it's smaller and then it expands, the pain starts to widen," Beth Ann Bovino, chief US economist at S&P Global Ratings, told AFP. "Think of it as a butterfly effect." With about a quarter of the federal workforce affected, the shutdown is currently squeezing an estimated USD 1.2 billion a week out of the economy, Bovino said, but that figure could grow if it drags on. At th...

Trump Victory, Volkswagen Stop Doing Business in IRAN

20Sep By PriyankaNo Comments

MIDDLE EAST

Trump Victory, Volkswagen Stop Doing Business in IRAN

Automobile maker Volkswagen will end almost all business in Iran. As per the report, the company is bowed under US pressure to stop all kind of business activity with IRAN but VW will still be able to do humanitarian business in Iran. The decision was made after several round of talks between the German auto giant and the administration of President Donald Trump, said Richard Grenell, the US Ambassador to Germany. In May, Trump pulled the US out of the deal it reached with Iran and five other countries in 2015. That accord lifted sanctions against Tehran in exchange for restrictions on its nuclear program. Now, the US is reimposing those sanctions. VW has scrapped plans it announced in July last year to sell cars in Iran for the first time in 17 years. займ турбозаймонлайн займ...

Trump threatens China of additional $200 bn Tariffs on Goods

19Jun By Lavina TolaniNo Comments

USA

Trump threatens China of additional $200 bn Tariffs on Goods

While the US-China Trade battle is heating over every day, President Donald Trump on Monday has threatened to impose tariffs on an additional $200 bn of Chinese goods amidst growing conflicts. The White House has said that if China is found going against its promise to retaliate against US tariffs announced last week, US will impose additional tariffs of worth 200 bn dollars on Chinese goods. In a statement that released Monday morning, Trump said, Further action must be taken to encourage China to change its unfair practices, open its market to United States goods, and accept a more balanced trade relationship with the United States. He also said that China has no intention of altering its unfair trade practices and is now threatening US companies workers and farmers who have done...

8Jun By Gauri SinghNo Comments

CHINA

China Plans to Import American Goods Worth $70 Billion

China has reportedly offered to buy agricultural and energy products worth $70 billion approximately from the United States as long as the Trump administration is not moving forward to impose tariffs against the country. This offer popped up during a meeting in Beijing held this weekend between Commerce Secretary Wilbur Ross and the Chinese economic adviser Liu He. The offer revolved all around a package that included that the Chinese companies would buy more of US farm and energy products such as soybeans, corn, natural gas, crude oil, coal and manufactured goods. The estimated value of the package, in this matter, was around $70 billion in the first year as stated previously. China's state-backed newspaper Xinhua said that China is willing to increase imports from other countries, ...

22May By Lavina TolaniNo Comments

CHINA

China Cuts Down Auto Import Tariffs as Trade Fears Ease

China's Finance Ministry has announced to slash import tariffs for automobiles and car parts thus opening up greater access to the world’s largest auto market amidst easing of trade tensions with the US. The government will cut down imports to 15% from 25% which will be effective from 1 July as an effort to open up China’s markets and spur development of the local auto sector, as reported by Ministry of Finance. Interestingly, China had said last month that it would announce a timeline to remove long-standing caps on foreign ownership of automotive ventures by slashing auto tariffs soon. This move will particularly prove beneficial for overseas carmakers especially those that import premium-end cars to China like Tesla Inc, Daimler AG’s Mercedes-Benz and Germany’s BMW. China's Hig...

China to Buy $200 Billion of American Goods Amid Trade War Fears

18May By Sheldan RungasamyNo Comments

USA

China to Buy $200 Billion of American Goods Amid Trade War Fears

In a bid to release tensions between America and China concerning the trade war, China may be disposed to buy up to $200 billion worth of American goods in an initiative that will decrease the tremendous trade deficit with the US, according to several media reports. Donald Trump announced that he would impose 25% tariffs that would amount to $150 billion against imported products Made in China. To counter, the Chinese government targeted $50 billion against American exports. The threats have not yet been implemented as of yet as the two countries are still trying to find a common ground of accord before taking drastic decisions. Currently, China deployed a high-level delegation led by Vice Premier Liu He in Washington to negotiate with the White House. The talks will be held for two ...

The Top 5 Biggest Controversies of Facebook

18Apr By Lavina TolaniNo Comments

Story

The Top 5 Biggest Controversies of Facebook

It is rightly said, “Criticism, like rain, should be gentle enough to nourish a man’s growth without destroying his roots." The quote from Frank A. Clark rightly fits in the scenario, where world's biggest media website Facebook is ongoing a heated criticism worldwide post its data breach controversy and Cambridge analytica scandal. But, you would be surprised to know, this is not the first time when the social media giant has been in "hot waters". Right from its foundation, early days to its taking the online world, it has faced numerous brickbats and contention time and again that has garnered a lot of attention worldwide. The company that today has nearly 2.2 billion monthly active users worldwide has witnessed some major controversies time and again. It has faced debacles over priva...

Mark Zuckerberg – “It Was My Mistake, I’m Sorry.”

10Apr By Sheldan RungasamyNo Comments

News

Mark Zuckerberg – “It Was My Mistake, I’m Sorry.”

Ahead of his hearing in front of Capitol Hill today, Facebook CEO, Mark Zuckerberg once again issued an apology for failing to protect the data of tens of millions of Facebook users and laid emphasis on the new policies put into effect since the scandal was came to light by media outlets. Zuckerberg also conceded that the multiple tools that Facebook used on its social platform was misused for unfair practices. It was my mistake, and I’m sorry, Zuckerberg said ahead of his appearance before the Senate Judiciary and Commerce committees today. He is also scheduled to appear before the House Committee on Energy and Commerce on Wednesday. I started Facebook, I run it, and I’m responsible for what happens here, the CEO added. Zuckerberg is now set to appear at Capitol Hill after the C...

This is How Amazon Avoids Tax in America

7Apr By Sheldan RungasamyNo Comments

ANALYSIS

This is How Amazon Avoids Tax in America

Last week, President Donald Trump directed attacks on Amazon in a tweet stating his disappointment that the e-commerce giant does not pay sufficient taxes. Since 2015, Donald Trump has expressed his contempt towards Amazon and its CEO Jeff Bezos around a dozen times on the micro-blogging site. Trump’s disdain towards the e-commerce giant is often attributed to the negative articles written against the US President in ‘The Washington Post’, which is owned by CEO of Amazon, Jeff Bezos. For this reason, many individuals wonder whether the statements made by the US President are accurate or just “impulsive.” In fact, while it is quite hard to believe, Amazon does indeed pay almost no tax at all in the US. It is very surprising that Amazon lawfully avoided all sorts of corporate taxes despit...

Trump Proposes Tariffs on $50 Billion Chinese Imports

4Apr By Lavina TolaniNo Comments

USA

Trump Proposes Tariffs on $50 Billion Chinese Imports

US Administration has escalated a stringent move on trade by announcing a 25 percent tariffs on Chinese imports amounting to USD 50 billion. This has come in as a response to the protest against Beijing policies requiring foreign companies to hand over their technology. The proposed list of products subjected to additional 25 percent tariffs are based on an extensive interagency economic analysis and would target products that are benefitted from Chinese plans while minimizing the impact on the American economy. The sectors targeted in the list include products from aerospace, communication and information technology, robotics and machinery. About 1300 different tariff lines in the proposed list will undergo a review in a public notice followed by a hearing post which a final list of...

U.S President Lashes Out at Amazon for paying “No-Taxes”

30Mar By Lavina TolaniNo Comments

USA

U.S President Lashes Out at Amazon for paying “No-Taxes”

US President Donald Trump slammed American e-commerce and cloud based company "Amazon" for paying "no-taxes" to local and state government and is reportedly seeking for more stringent regulations on the Seattle-based company, which is currently a global name all over the world, including India. In his tweet posted on Thursday morning, Trump directed his aim over Amazon stating how the company plays immense role on people's everyday's life, where they shop and how the company garners taxes from sales and delivers packages to its customers. I have stated my concerns long before the elections. Unlike other company, Amazon pays very little or absolutely no taxes to local and state government.Moreover, it uses country's postal system as their delivery boy(causing tremendous loss to the US) ...

Trade War between America and China Officially Begins

23Mar By Sheldan RungasamyNo Comments

USA

Trade War between America and China Officially Begins

US President Donald Trump went ahead with his trade war despite China’s advice to abandon the move. However, Donald Trump turned a deaf ear to the Chinese government and imposed tariffs of $60 billion on Chinese imports to serve as punishment for what US President considers to be “unfair” appropriation of American intellectual property. A move that will surely add more tension on an already 'not-very-friendly' trade relations between the two biggest economies of the world. The Cause of Conflict Trump advised the US trade representative to set up the tariffs to almost $60 billion worth of Chinese imports after a probe of seven months into the intellectual property theft, which has been a sensitive issue in the US-China trade relations. "We have a tremendous intellectual prope...