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India's Rajan keeps rates on hold in final move as governor

Talking to reporters at the customary post monetary policy press conference, Rajan said RBI is now focused on meeting the inflation glide path target of 5 per cent by March 2017. As the former RBI Governor Dr. Duvvuri Subbarao said only last week in an interview on Who Moved My Interest Rate?, his book on the RBI, "Price stability is at the heart of a Central Bank's mandate". Read More »

Dubai plane crash survivor hailed as world's luckiest man


He won jackpot in his 17th attempt for the ticket drawn in Dubai Duty Free Millennium Millionaire raffle. According to CNN , Khadar described last week's escape as a "miracle" and a "precious gift from God ". "I said, 'Don't joke!' and they said, 'Yes, you are the winner!' and I said, 'No!'" he recounted. 'I knew God saved me for some specific goal. Mohammad Basheer stated that he had to struggle to medically treat his 21-yrs son who was paralyzed in an unfortunate accident just after 13 ... Read More »

Tesla Motors Loss Widens


Production for the first half of the year was 33,855 (29,212 delivered) vehicles, with 18,345 vehicles made (and 14,402 delivered) in the second quarter. Tesla confirmed the progression in the construction of its giant battery factory named Gigafactory in Nevada geared towards mass production. While GAAP mandates lease revenues to be recognized throughout the life of the lease, Tesla reports a non-GAAP set of numbers in which the company recognizes lease revenues as upfront revenues. Read More »

Why oil prices are pushing higher


Oil prices climbed Monday as fresh hopes that OPEC members might consider freezing production provided support to the market, despite a continuing glut of crude supply. Iraq has dropped the September official selling price for Basra Light crude to Asia by $1 to minus $2.30 a barrel against the average of Oman/Dubai quotes from the previous month, the State Oil Marketing Organization said on Monday, making it the latest exporter to drop its prices. Read More »

Facebook hates ad blockers so much it now blocks them


Unlike most publishers who rely on third-party ad serving companies where the ad code is relatively easy to identify and thus block, Facebook controls the serving of ads. "Earlier today, Facebook announced that it would start trying to circumvent users with ad-blocking software and show them ads". "Our approach is to find a middle ground ". Read More »

Clinton slams Trump, rebuts his economic proposals


In a major economic speech in Detroit on Monday, Republican presidential nominee Donald Trump proposed the biggest tax reform since Ronald Reagan's administration, with cuts at all income levels. The letter warns that Trump "would be a risky President", and would "risk our country's national security and well-being". "She's trying to appeal to Independents and Republicans who are on the fence about Trump and have questions about what his judgment as commander-in-chief would look like". Read More »

UK ties with China at risk over nuclear plant deal


China has cautioned Britain against closing the door to Chinese money and said relations were at a crucial juncture after prime minister Theresa May delayed signing off on a $¤241 billion nuclear power project . Chinese state media reacted to the delay by saying it "adds uncertainties to the "Golden Era" of China-UK ties". The ambassador's remarks came a week after the state-run news agency Xinhua said China would not tolerate "unwanted accusations" about its investments in the United ... Read More »

GST bill causes confusion over tax holidays for FMCG and auto sectors


The GST bill was passed by the Lok Sabha in May past year, but had to be cleared again following key amendments approved in Rajya Sabha last week. He said it will bring freedom from tax terrorism. Noting that 65 per cent people are still below poverty line, the Prime Minister said his government had inherited it which it had accepted. With the unified taxation system proposed, issues relating to regulatory uncertainty will be resolved and shipment costs will reduce resulting in business ... Read More »

Neymar's Brazil held to 0-0 draw by minnows Iraq

Brazil, the record five-time World Cup winners, are yet to triumph in the men's Olympic football tournament, losing finals in 1984, 1988 and 2012. The game ended in a 0-0 draw. Gutierrez, a 21-year-old striker who plays for Mexican club Pachuca, missed a chance from close range just before halftime, but he netted the equalizer with a low shot from near the penalty spot three minutes into the second half. Read More »

Markets Right Now: Stocks trading higher on Wall Street


For the week, the Dow rose 0.6 percent, and the S&P 500 increased 0.4 percent, while the Nasdaq was up 1.1 percent. "The jobs number coming in stronger than expected is breathing new life into the market, something to give it direction", said Robert Pavlik, chief market strategist at Boston Private Wealth, in an interview. Read More »

Mahad bridge collapse: 2 bodies found, possibility of finding survivors bleak

A Helicopter of the coast guard deployed the Chetak Helicopter which is presently being used to spot possible survivors and search for the missing vehicles. The bridge straddling the river lies along a major highway connecting Mumbai to the tourism state of Goa. Police department diverted the traffic from this bridge to a new bridge which was nearby. Read More »

Time Warner invests in Hulu in win for cable cord-cutters

The move is good news for Hulu , which needs an influx of money not only to beef up its original content offerings, but to continue paying to license the content of other networks so that the service can remain competitive with Amazon and Netflix. Read More »

McDonald's Removing Artificial Preservatives From Chicken McNuggets

As of Monday, breakfast menu items - including pork sausage patties, omelet-style eggs and scrambled eggs - also no longer contain artificial preservatives. Still, when McDonald's reformulated the Egg McMuffin with simpler, more natural ingredients this past September, the company reported a double digit increase in sales. Read More »

Roger Ailes stepping down as head of Fox News


Roger Ailes' successor at Fox News faces a delicate task in changing the culture of a news organization forever identified with one man, and push it forward for a new generation without alienating an audience that has made it a tremendously lucrative business. Read More »

Oil resumes decline toward US$40 as USA drilling gains amid glut


Prices dropped to a 13-year low in February, but have since risen around 60%, though they remain sharply lower than two years ago when prices hovered at around $100 a barrel. Crude oil futures briefly plunged below $40 a barrel for the first time in three months Monday. Slow economic growth is putting downward pressure on crude oil prices because demand is too weak to take on any excess crude oil on the market. Read More »

SABMiller Board Backs Sweetened AB InBev Offer

But major SABMiller shareholders then signaled they favored AB InBev's sweetened bid, which received a further boost Friday by getting regulatory clearance from China, the last major antitrust hurdle after it was approved in the USA and South Africa in recent weeks. Read More »

NextEra to buy bankrupt Energy Future and its stake in Oncor


NextEra , the parent company of Florida Power & Light, has morphed into a national electric powerhouse by purchasing unregulated renewable-energy projects across the U.S. NextEra also committed not to cut any Oncor jobs during its first two years of ownership. When NextEra announced it was interested, Energy Future invited other offers. Read More »

Dan Loeb is betting on China's answer to Uber


The services have been banned in some cities. For instance, cities where ride-hailing services operate can set minimum and maximum prices to control fares, Liu said. The law gives the official go-ahead to Uber, but also imposes new rules for drivers. Uber investors have even urged the company to come to some sort of agreement with Didi Chuxing and stop spending so much money in the region. Read More »

Chelsea and Ivanka: Longtime Friends and Daughters of Political Rivals


Chelsea just welcomed her son Aidan in June. She was at the convention Wednesday night, as her father called her birth "the greatest moment of my life". The campaigns and mudslinging have definitely posed a threat their bond, but they both feel that friendship is more important. The tension between Bernie Sanders activists and Democratic Party brass set to crown Hillary Clinton their nominee lingered in pockets of Philadelphia as the final day of the convention dawned. Read More » (AMZN) Stock 'In Good Shape,' CNBC Guests Say After Earnings


But the 60 percent year-over-year growth in Prime Day sales won't factor into the company's bottom line until it reports third quarter because it fell in July. For the third quarter, Amazon projects net sales of between $31.0 billion and $33.5 billion, representing growth of between 22% and 32% over the third quarter of 2015. Read More »

Fiat Chrysler recalls about 410K vehicles for wiring trouble


Vehicles built after September 23, 2014, aren't affected. In January, Napleton Automotive Group filed a civil racketeering lawsuit against the automaker, saying FCA paid certain dealers to report false sales to "create the appearance that Fiat Chrysler's performance is better than it actually is". Read More »

1.6 million child-bearing women in Latin America could get Zika

Switzerland's health authorities have registered 28 cases of the birth-defect causing Zika virus since the start of the year. According to Reuters , U.S. The money, coming from the Centers for Disease Control and Prevention , is a drop in the bucket compared with the $60 million being doled out countrywide to prevent the spread of the disease. Read More »

US home prices rise at steady pace as sales heat up


And while the index for the top-third of the market remains 19.3 percent above its previous cycle peak hit in August of 2007, it slipped 0.5 percent in May and its year-over-year gain of 4.9 percent is the lowest since the third quarter of 2012. Read More »

Lindsay Lohan accuses fiancé of 'beating the s*** out of her'


She then posted a short video of Tarabasov in a nightclub, simply captioned, "Home?" S***ty time- it changes at 26/27 @e2505t thanks for not coming home tonight. Lohan was snapped solo at Heathrow Airport in London on Sunday night - still wearing her engagement ring - and hiding under a shirt prominently featuring words from E.E. Read More »

U.S. antitrust officials poised to block Anthem, Aetna deals

Bloomberg first reported that the Justice Department had made a decision to sue to block the mergers. Aetna and Humana also contend their transaction will benefit consumers. and Molina Healthcare Inc. And cost cuts in the deal will help the combined firm offer more low-priced Medicare Advantage plans. Humana and the Justice Department were not immediately available for comment. Read More »

Stock Indexes Drift Higher in Midday Trading on Wall Street


News of the coup attempt in the North Atlantic Treaty Organisation country came at the close of trade on Friday hampering buyer sentiment for US stocks after what had been their longest rally since March. US stocks were poised for a solid opening, with Dow futures and the broader S&P 500 futures of 0.3 percent. Wall Street gained on Monday, with the Dow and the S&P 500 near record highs, as Bank of America's better-than-expected profit boosted optimism about U.S. Read More »