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Finance

However, the minister then announced a new road cess of Rs 8 per litre, leading to no change in the petrol prices . In the budget, the Modi government has chose to reduce the excise duty on petrol and diesel by taking big decisions. This is an additional excise duty imposed on motor spirit is commonly known as petrol and high speed diesel. With this reduction, the FM said the government will bear the revenue loss of Rs 13,000 crore in the remaining part of FY18.
  • Giannis Antetokounmpo Volunteered To Save Jason Kidd's Job

    Giannis Antetokounmpo Volunteered To Save Jason Kidd's Job

    Finance

    Therefore, Monday's firing of head coach Jason Kidd isn't really about Kidd or the short-term state of the Bucks. The Bucks are 24-22 overall and now sit in the eighth and final playoff spot in the Eastern Conference despite a roster that includes one of the top young stars in the National Basketball Association in All-Star Giannis Antetokounmpo and recent trade acquisition Eric Bledsoe .
  • Global growth forecast revised up; to hit 3.9pc, says International Monetary Fund

    Global growth forecast revised up; to hit 3.9pc, says International Monetary Fund

    Finance

    The IMF expects the USA growth to accelerate to 2.7 percent this year, from 2.3 percent in 2017, citing increased investment as businesses take advantage of lower corporate tax rates. The revision reflects stronger than expected activity previous year, higher projected external demand, and the expected macroeconomic impact of the tax reform, in particular the reduction in corporate tax rates and the temporary allowance for full expensing of investment, it said.
  • Facebook to prioritize news from 'high quality' and 'trustworthy' sources

    Facebook to prioritize news from 'high quality' and 'trustworthy' sources

    Finance

    He also announced that Facebook would shrink the content on its News Feed from 5 percent to 4 percent. "There's too much sensationalism, misinformation and polarization in the world today", wrote Zuckerberg . These changes will not affect the news users see, but rather the quality to provide "trusted sources". Starting Monday, the company will roll out more surveys to more users, asking them to share their thoughts on various media sources.
  • Amazon to raise cost of monthly Prime membership by $2 in February

    Amazon to raise cost of monthly Prime membership by $2 in February

    Finance

    E-commerce leader Amazon ( AMZN ) is raising the fee of its Prime membership program for those who pay on a monthly basis, but those who pay annually will see no change to their $99 fee. Monthly payments for student membership is increasing from $5.49 to $6.49 a month. That isn't the only membership fee rising, either. As Amazon cancels some of its original content, it needs added incentive to keep customers invested while they produce more projects like the epic and epicly ...
  • False alarm fallout: Hawaii lawmakers divided over missile early warning system

    False alarm fallout: Hawaii lawmakers divided over missile early warning system

    Finance

    But after just 5 minutes, NHK admitted the alert was sent in error . Another false alert about a impending missile strike from North Korea was issued Tuesday - this time in Japan. The employee, believing the correct selection had been made, then went ahead and clicked "yes" when the system's computer prompt asked whether to proceed, Mr Rapoza said.
  • Hong Kong activists jailed over protest

    Hong Kong activists jailed over protest

    Finance

    Before the hearing, Wong said he had "no regrets". "They can lock up our bodies, but they can't lock up our minds", said Wong, moments before appearing in court. "Our determination to fight for genuine universal suffrage will not waver". High Court Judge Andrew Chan said in the ruling that although Wong only stayed in the camp briefly, his involvement in obstruction was deep and extensive.
  • Falling US crude stocks, threats to Nigerian fuel infrastructure push oil up

    Falling US crude stocks, threats to Nigerian fuel infrastructure push oil up

    Finance

    In what seems to be shaping up as the analytical community and media fomenting over a non-issue, crude market gains on Wednesday caused experts to complain that oil prices have reached excess levels and this will only stimulate us output - which in turn will cause the Organization of the Petroleum Exporting Countries (OPEC), who are the masterminds of the gains via its production cutbacks - to abandon its strategy prematurely.
  • Bank of Canada increases overnight rate target to 1 1/4 per cent

    Bank of Canada increases overnight rate target to 1 1/4 per cent

    Finance

    A class-action lawsuit filed in a USA court alleges six Canadian banks and three others conspired to increase the profitability of their derivatives trading business by manipulating an interest rate benchmark for about seven years. The central bank says consumption and residential investment have been stronger than anticipated, reflecting strong employment growth. Growth in advanced economies is projected to be stronger than in the Bank's October Monetary Policy Report (MPR).
  • Markets Right Now: Dow Jones industrials cross 26000

    Markets Right Now: Dow Jones industrials cross 26000

    Finance

    Stocks have picked up where they left off in 2017, with investors piling into the market as Wall Street analysts are boosting their projections of how much money US companies will make this year after Congress slashed the corporate tax rate late last year to 21% from 35%.
  • Airbus posts record deliveries in 2017

    Airbus posts record deliveries in 2017

    Finance

    He said talks with Emirates were ongoing and that he was hopeful a deal would be worked out. "The market is strong with the recovery in the global oil prices, reaching close to US$70 per barrel". Airbus has now outsold Boeing for six straight years, encouraging the company to predict that it's just a few more away from also out-delivering its Seattle-based competitor, something last achieved in 2011.
  • Uber built secret program to evade law enforcement

    Uber built secret program to evade law enforcement

    Finance

    Uber downplayed the tool and said it was common practice to have such software to remotely change passwords or lock devices in the event they were lost or stolen. Ripley, the name of the software, took reportedly took its name form Sigourney Weaver's character in the 1979 sci-fi movie " Alien ". The company also said its policy is to cooperate with all valid searches and requests for data.
  • Carillion knocked back over business plan as talks continue over future

    Carillion knocked back over business plan as talks continue over future

    Finance

    It is understood the Scottish Government has put contingency plans in place to plug the gap if Carillion collapses, covering both its facilities management and construction services. Her views were echoed by Unite union assistant general secretary Gail Cartmail, who said: "The government must consider all options while the future of Carillion hangs in the balance, including bringing contracts back in-house".
  • Blockchain company Ripple inks strategic deal with MoneyGram

    Blockchain company Ripple inks strategic deal with MoneyGram

    Finance

    For MoneyGram , Fortune said , the partnership with Ripple "may provide a way to maintain its share of the money transfer market" amid competition from a new generation of low-priced Internet-based services like TransferWise. MoneyGram , the world's second-largest money transfer company, stated that it was " hopeful " the partnership would " increase efficiency and improve services to MoneyGram's customers ".
  • Tesco Ireland sales up 4% over key Christmas period

    Tesco Ireland sales up 4% over key Christmas period

    Finance

    Food sales rose 3.6% on a total basis to £1.666bn, but like-for-like food sales were down 0.4%. The results represented the company's eighth consecutive quarter of growth and continued market outperformance, it claimed. Apart from Asda, which will release its figures along with those of its Wal-Mart Inc (NYSE:WMT) parent company in the coming weeks, we've heard from almost all of the major United Kingdom food retailers.
  • Ford Debuts Details on Diesel F-150 Pickup

    Finance

    The company has announced that it will begin to take orders for the new Ford f-150 in mid-January, with delivers expected to begin in the Spring of 2018. "We know that competing diesels with electric cooling fans have to dial back on power under extreme heat and altitude, so we decided on a viscous-controlled mechanical fan that has the capacity to move much more air across the radiator and intercooler in extreme conditions", David Ives, Ford diesel engine technical specialist, said in the ...
  • Nvidia partners with Uber, Volkswagen in self-driving technology

    Nvidia partners with Uber, Volkswagen in self-driving technology

    Finance

    The DRIVE Xavier will form the core of the driverless platform that's now in development and will also become available to other manufacturers in the coming weeks, being set for a release in the current quarter of the year. One of the first vehicles that will benefit is the company's slick revamped bus, the I.D. Buzz. The chip maker, which has already partnered with the industry through companies such as Tesla and Chinese Baidu , is stepping up its efforts to develop self-driving ...
  • San Francisco Bay Area jolted awake by magnitude 4.4 quake

    San Francisco Bay Area jolted awake by magnitude 4.4 quake

    Finance

    The quake was on the Hayward Fault, part of the San Andreas Fault . The natural disaster hit the San Francisco area about 2.40am local time (11.40pm NZT) and lasted about 10 seconds, causing a "little bit of rolling motion and a sharp jolt", NBC Bay Area Chief Meteorologist Jeff Ranieri wrote on Twitter.
  • Ajit Pai Death Threats Keep FEC Head From Electronics Show

    Ajit Pai Death Threats Keep FEC Head From Electronics Show

    Finance

    Big US telcos and cable companies may yet rue the day that their man at the FCC made a decision to go gangbusters over net neutrality repeal . So yeah, there's not much meat there, but it stands to reason that Pai thought it best to avoid a real and potentially heated discussion on the matter with the public.
  • Outages at Nation's Airports Delay New Year's Day Travel

    Outages at Nation's Airports Delay New Year's Day Travel

    Finance

    Addressing security concerns, the US Customs and Borders Protection said that there was no indication that the service disruption was malicious in nature. People posted photos of long lines at John F. Kennedy International Airport in New York City and Hartsfield-Jackson Atlanta International Airport in Georgia.
  • German factory growth hits record high in December: PMI

    German factory growth hits record high in December: PMI

    Finance

    Ireland's economy is nearly certain to have been the strongest performer in Europe for the fourth straight year, while unemployment has been on a steady downtrend since 2011. "A lingering concern is that supply-side constraints pose a risk to the sector's ability to kick on", Smith said, adding that huge delivery delays would inevitably be borne out by sustained upward pressure on input costs.
  • Iran president makes 1st speech since protests

    Finance

    The protesters have been chanting slogans, criticizing Rouhani and Iran's Supreme Leader Ali Khamenei. The Iranian president also acknowledged the public's worries extend beyond economy to corruption allegations and government transparency.
  • Minimum wage rises to $10.40 an hour on path toward $15

    Minimum wage rises to $10.40 an hour on path toward $15

    Finance

    A new year on Monday will bring a slight increase in New Jersey's minimum wage. Another minimum wage hike will be coming for NY workers Sunday. Employees seem to feel that it does not matter, if you switch jobs or not when getting paid so little.
  • Trump fires entire HIV/AIDS Council

    Trump fires entire HIV/AIDS Council

    Finance

    Fangerous that #Trump and Co. Patrick Sullivan, an epidemiologist at Emory University in Atlanta who works on HIV testing programs, told the newspaper that the members were informed by letter this week that their terminations were effective immediately.