|▼ BUSINESS NEWS ▼|
|As marijuana prices drop, growers push 'organic' cannabis - with a higher price tag|
|Thu, 23 May 2019 18:30:15 -0400|
|Quite an 'achomlishment'|
|Thu, 23 May 2019 18:29:28 -0400|
|Trump demands legal immigrants reimburse the government for welfare programs|
|Thu, 23 May 2019 18:25:16 -0400|
|Is Speedcast International Limited's (ASX:SDA) 0.7% ROE Worse Than Average?|
|Thu, 23 May 2019 18:24:43 -0400|
|RBC Bearings Inc (ROLL) Q4 2019 Earnings Call Transcript|
|Thu, 23 May 2019 18:23:26 -0400|
|Teekay Corp (TK) Q1 2019 Earnings Call Transcript|
|Thu, 23 May 2019 18:23:21 -0400|
|Casino Parent Rallye Is Placed in Creditor Protection|
|Thu, 23 May 2019 18:22:17 -0400|
Rallye SA, saddled with 2.9 billion euros ($3.4 billion) of debt, and the other holding companies Naouri uses to control the retailer Casino filed for a French court procedure called “sauvegarde,” which gives them at least six months to plan a debt restructuring, they said in a statement Thursday. During the process, Rallye and Casino will keep the same management, a company spokesman said.
|Legg Mason Cuts 12% of Staff in Revamp as Peltz Joins Board|
|Thu, 23 May 2019 18:15:51 -0400|
The cost-cutting steps are “critical to our ongoing growth,” Joseph Sullivan, chief executive officer of the Baltimore-based asset manager, said in a memo to staff Thursday. In recent months, BlackRock Inc., State Street Corp. and AQR Capital Management have announced staff reductions.
|Trump's Hikes Double the Cost of Tariffs to Consumers: Report|
|Thu, 23 May 2019 18:12:24 -0400|
President Trump’s recent increase in tariff rates on $200 billion worth of Chinese imports raises the overall cost of tariffs on Chinese goods for U.S. households to $106 billion a year, according to a new analysis published on the New York Federal Reserve Bank’s blog.Individual households will pay $831 per year on average in added costs if the tariffs remain in place, the economists said. That roughly doubles the size of the impact from the previous tariff levels, which were costing households an estimated $419 on average per year.The higher tariffs could lead to a drop in revenues for the Treasury Department, because the cost increase is so large that it will drive U.S. importers to look for alternative sources of goods, such as Vietnam. The substitute goods would likely be more expensive for consumers than before, but if they come from non-Chinese sources, they won’t provide a revenue bump for the Treasury.“[A]ccording to our estimates, these higher tariffs are likely to create large economic distortions and reduce U.S. tariff revenues,” the authors Mary Amiti, Stephen J. Redding, and David E. Weinstein concluded. Not coincidentally, retailers including Walmart, Target and Home Depot warned this week that the tariffs are causing them to review their financial outlooks and consider price hikes. "We're concerned about tariffs because they lead to higher prices on everyday products for American families," Target CEO Brian Cornell said Wednesday.Like what you're reading? Sign up for our free newsletter.
|Exclusive: Canada's Conservative leader to drop pledge to balance budget in two years|
|Thu, 23 May 2019 18:11:46 -0400|
In a speech on his economic policy he will deliver at the Canadian Club in Vancouver, British Columbia on Friday, Scheer will promise to make a balanced budget part of his platform, but within about five years instead of two. "Even the most optimistic projections don't have the Liberals balancing the budget for 20 more years ... But if Canadians elect a Conservative government this fall, we will balance the budget in about a quarter of that time," the text reads. The decision also comes as Scheer's ally Doug Ford, the premier in Ontario, seeks to balance the budget of Canada's most populous province by 2023-24.
|Why Waterco Limited's (ASX:WAT) High P/E Ratio Isn't Necessarily A Bad Thing|
|Thu, 23 May 2019 18:11:29 -0400|
|Trump unveils $16 bn aid for farmers hurt by China trade war|
|Thu, 23 May 2019 18:11:17 -0400|
President Donald Trump on Thursday unveiled a new $16 billion aid package to help farmers caught in the crossfire his trade war with China. "The farmers have been attacked by China," Trump told reporters at the White House. Trump again claimed that China is paying the 25 percent tariffs he has imposed on $200 billion in imports, which economists agree are paid by businesses and consumers.
|Children up for adoption paraded in Brazil shopping center|
|Thu, 23 May 2019 18:10:37 -0400|
A parade of adoptable children held in a Brazilian shopping center drew condemnation Thursday, with some comparing the event to the sale of animals or slaves. "Adoption on the Catwalk" in the central-west state of Mato Grosso was designed to "give visibility to children and adolescents who are eligible for adoption," according to an official statement promoting Tuesday's show. The parade -- organized by the local chapters of the Brazil Bar Association's Childhood and Youth Commission (CYC) and the Adoption Research and Support Association (AMPARA) -- was held in the Pantanal shopping mall in the capital Cuiaba.
|Coinbase Commerce eclipses $50 million in transactions|
|Thu, 23 May 2019 18:06:35 -0400|
Coinbase Commerce, the exchange’s online retail service, announced today it has facilitated $50 million in transactions since launching last year. With 10,000 monthly users, the platform is on a growth trajectory, homing in on early adopters with plans to innovate, according to Justin O’Brien, the product lead for the project.The post Coinbase Commerce eclipses $50 million in transactions appeared first on The Block.
|Why These Oil Stocks Crashed on Today's Crude Oil Selloff|
|Thu, 23 May 2019 18:06:00 -0400|
|General strike slows commerce in Nicaragua|
|Thu, 23 May 2019 18:05:49 -0400|
|Trump's New $16 Billion Bailout for Farmers|
|Thu, 23 May 2019 18:04:21 -0400|
The Trump administration unveiled on Thursday a $16 billion aid package for U.S. farmers hurt by President Trump’s ongoing trade war with China and other nations.Agriculture Secretary Sonny Perdue said the money would come from the tariffs on Chinese imports being collected by the U.S. Treasury, which he falsely claimed were being paid by China, sticking with a now well-established and misleading script.“China’s going to pay for these, the $16 billion of tariffs coming in,” Purdue told Fox Business. “It’s a transfer coming in, and we’re doing again through the CCC [Commodity Credit Corporation] program which was authorized, as we used last year, but actually the tariff money that we were receiving, the revenue we were receiving is what the president has intended to fund the farmers who have been hurt by these retaliatory tariffs.”In fact, tariffs are paid by American businesses and consumers, who will be the ultimate source of the bailout funds.The payments: The $16 billion aid package is larger than the $12 billion package offered last year, and Bloomberg’s Mike Dorning and Jennifer Jacobs reported that the payments for farmers will be more generous this time around. Last year, farmers received $1.65 per bushel for soybeans, 14 cents per bushel for wheat and 1 cent per bushel for corn; the new package will reportedly offer $2 per bushel for soybeans, 63 cents per bushel for wheat and 4 cent per bushel for corn. Growers of other commodities including cotton, chickpeas and cherries will also be eligible to receive subsidy payments.The program will pay about $14.5 billion directly to farmers starting as soon as this summer, distributed through the Commodity Credit Corporation. An additional $1.4 billion will be used to purchase surplus commodities including fruits, vegetables, meat and milk and distribute them to food banks and schools. About $100 million will be used to develop new markets for American exports.Farmers still not happy: Sen. Joni Ernst of Iowa said the payments may not be enough to satisfy farmers, despite being more generous this year. “Corn farmers are going to be very upset about this,” Ernst said. “It’s better than the 1 cent per bushel that they got earlier but it’s not enough.”The U.S. agricultural sector has been under strain for several years due to falling commodity prices, Dorning and Jacobs said, and American farm income dropped by 16% last year, to about half the level it was in 2013.Worries about market distortions: Economists have warned that the subsidy payments may influence farmers’ decisions about which crops to grow. Higher subsidies for soy could prompt farmers to move away from corn to maximize their payments from the government. The U.S. Department of Agriculture said that as of Sunday farmers had planted only 49% of the corn they said they had planned to plant, the lowest percentage at this point in the calendar since 1980. While a wet spring is likely playing a role in the delay, a shift toward higher soy production may be involved as well.Like what you're reading? Sign up for our free newsletter.
|Trump says 'dangerous' Huawei could be included in U.S.-China trade deal|
|Thu, 23 May 2019 18:03:20 -0400|
Washington last week effectively banned U.S. firms from doing business with Huawei, the world's largest telecoms network gear maker, citing national security concerns. "You look at what they've done from a security standpoint, from a military standpoint, it's very dangerous," Trump said in remarks at the White House. Trump predicted a swift end to the trade war with China, although no high-level talks have been scheduled between the two countries since the last round of negotiations ended in Washington two weeks ago.
|Fed officials say trade tensions could threaten growth|
|Thu, 23 May 2019 18:03:20 -0400|
The remarks suggest the outcome of the 10-month trade war between the world's two largest economies will be an important factor as Fed policymakers weigh how long to stay "patient" on interest rates. "I feel like the data is good, but the mood is teetering, so if we get a relaxation or a reduction in the uncertainty...then I expect the economy's momentum to be an upside risk to growth," San Francisco Federal Reserve President Mary Daly said at a Dallas Fed conference.
|One of the World’s Most Famous Chef’s Restaurant Empire Has Collapsed|
|Thu, 23 May 2019 18:00:16 -0400|