Economy

Large Chinese-made passenger jet due to make maiden flight

The nation's State Council, the top administrative authority, sent a congratulatory note to the designers. Comac plans a test program of 4,200 flight hours and introduction in 2020 with China Eastern Airlines. More immediately, he's expecting lower prices from the added competition. "We've seen that to some degree with the launch of the CSeries". The C919 designation was chosen partly to reflect the idea of long life in Chinese numerology. Read More

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Federal Reserve keeps interest rates steady, hints at further hikes

The Federal Reserve statement did not reveal any cause for concern for a June rate hike despite the latest inflation report showing a decline in March. Eurozone producer price inflation eased at a faster-than-expected rate in March, figures from Eurostat showed Wednesday. Other reports have also stated that the USA economic growth remains on track despite the recent decline in the greenback and due to the lack of growth in companies hiring workers within the country. Read More

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Hinduja brothers top list of 134 United Kingdom billionaires with £16.2 bn

Hinduja brothers top list of 134 United Kingdom billionaires with £16.2 bn

Brothers David and Simon Reuben, who topped the poll a year ago, fell two places despite adding 900 million pounds to their 14 billion pounds fortune. "A number of Paul's businesses went into administration in late 2015 as a result of the steel industry crisis and his London-based Caparo Group, which includes property interests, saw its assets sink from 77 million pounds to 49.6 million pounds", the list notes. Read More

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Trump wants to slash taxes on businesses

Trump wants to slash taxes on businesses

Trump did not provide any details about his new tax plan - just that it would be " bigger I believe than any tax cut ever " and that he would announce it next "Wednesday or shortly thereafter". Putting a finer point on it, "if they want to assume 3% to 4% growth, the plan may pay for itself on paper". Trump has struggled as president to advance his domestic policy agenda, including on taxes, even though his Republican Party controls both chambers of congress. Read More

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North Korea detains another U.S. citizen amid rising tensions, state media reports

North Korea detains another U.S. citizen amid rising tensions, state media reports

KCNA claimed that "a relevant institution" was "conducting [a] detailed investigation" of Kim's alleged crimes, reports the BBC . With the latest detention, a total of four US citizens reportedly remain in custody in North Korea. It began offering classes in English to the North Korean elite in 2010. The detentions come at a time of heightened tensions between Washington and Pyongyang. Read More

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Buffett calls health bill a giveaway to wealthy

During his interview with ET Now he elaborated on how he sees India and what are his plan. "Medical costs are the tapeworm of American economic competitiveness", Buffett said. "That is a problem this society is having trouble with and is going to have more trouble with". "He didn't", Buffett said. Many Berkshire units are selling their wares at discounted prices at the annual meeting, while others offer memorabilia such as "Berky" boxers and bras, talking Warren Buffett dolls, and rubber ... Read More

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North Korea Detains Fourth American Citizen: KCNA Report

DPRK authorities announced the arrest of an American citizen on charges of "hostile acts". The arrests come as tensions rise between Pyongyang and Washington over North Korea's nuclear and missile programmes. Other Americans being held in North Korea include OH native Otto Warmbier, a University of Virginia student who was arrested in January 2016 while he was on a tour of North Korea, and Kim Dong Chul, who was arrested in October 2015 while in North Korea on business. Read More

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Chinese export, import growth slow in April as rebound cools

Chinese export, import growth slow in April as rebound cools

China's exports and imports did not rise as much as expected last month, leaving the world's second-largest economy with a bigger trade surplus. The decline in April exports was within market expectations, as April shipments were mostly booked in February and early March, when Chinese steel mills were opting to sell more in the domestic market, where prices at the time were yielding higher profits than exports. Read More

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Cassini Finds Nothing In Between Saturn's Rings, Beams Back New Images

Cassini Finds Nothing In Between Saturn's Rings, Beams Back New Images

The Cassini spacecraft will take its final tour on May 9th, when it will travel from the northern tip of Saturn to the south. It has since relayed plenty of information that scientists have been using to find out more about the planet. The movie compresses an hour's worth of observations into 30 seconds, as the craft swooped southward over the dark vortex at Saturn's north pole and the hexagonal jet stream beyond it. Read More

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Five things to watch for in United States jobs report for April

Five things to watch for in United States jobs report for April

The economy added better than 200,000 jobs during the first two months of the year , but hiring eased in March. The Fed raised rates by a quarter of a percentage point in March and has forecast two more increases this year . The low rate could keep the Federal Reserve on track to gradually raise it's short-term interest rate this year . Some economists are even forecasting a 3 percent economic growth rate, far above last quarter's 0.7 percent rates. Read More

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Sales tax creditors kick off likely wave of lawsuits against Puerto Rico

Sales tax creditors kick off likely wave of lawsuits against Puerto Rico

SAN JUAN, Puerto Rico - Bondholders sued Puerto Rico on Tuesday in the first legal challenges to hit the USA territory after the expiration of a freeze on litigation that protected it from lawsuits amid a deep economic crisis. Rossello's decision came two days after the end of a moratorium on payments to creditors. In other words, the board remains "hopeful that continued negotiations (including through mediation) will lead to consensual resolutions such that Puerto Rico will once again be ... Read More

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What Are Analysts Suggestions On Ascena Retail Group Inc. (ASNA)

Ascena Retail Group Inc. shares decreased -4.01 percent over the past week and fell -11.14 percent over the previous month. The lowest target is $5 while the high is $18.0. Elizabeth Park Cap Advsr Ltd holds 205,347 shares or 2.79% of its portfolio. State Bank Of Montreal Can invested in 0% or 1,466 shares. Goldman Sachs Group Inc holds 901,937 shares or 0% of its portfolio. Read More

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North Korea Detains Fourth American Citizen Due To Alleged 'Hostile Acts'

Kim Hak-song had been working at the Pyongyang University of Science and Technology (PUST) before he was arrested on Saturday. North Korea's state media says it has detained another USA citizen for suspicion of acts against the state. China's actions against the North, the US bill and Secretary of State Rex Tillerson's remark that the U.S. administration is 20 percent to 25 percent of its way into its campaign to put pressure on the North indicate that more pressure will be coming. Read More

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Finally Free: Largest Release of Chibok Girls from Boko Haram

The latest negotiations were mediated by the Swiss government and the International Committee of the Red Cross, Nigeria's government said . "Chibok girls. Though Boko Haram has abducted thousands of people during its eight-year insurgency that has spilled across Nigeria's borders, the Chibok mass kidnapping in 2014 horrified the world and brought the extremist group worldwide attention. Read More

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Warren Buffett says Wells Fargo botched response to abuses

Buffett, 86, and Vice Chairman Charlie Munger, 93, were fielding five hours of questions from shareholders, journalists and analysts about Berkshire, its investments, their successors, the economy, and other matters. "Our biggest tech failure was missing Google". The US House of Representatives on Thursday narrowly - 217 to 213 - approved legislation to repeal and replace former President Barack Obama's signature health insurance program, known as Obamacare. Read More

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ADB hoping US will step up and help lead regional lender

ADB hoping US will step up and help lead regional lender

Held in Yokohama , Japan, under the theme "Building Together the Prosperity of Asia", the annual meeting is also a celebration of the Asian Development Bank's 50 years of development work in Asia and the Pacific. "It was significant that we reconfirmed the need for financial cooperation between the two countries, while sharing our experiences in dealing with economic policies and structural issues", he added. Read More

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Yogi Aditynath picks up broom to make 'Uttar Pradesh clean'

Yogi Aditynath picks up broom to make 'Uttar Pradesh clean'

To a question on some banned channels telecasting visuals in Jammu and Kashmir, Naidu, who is also the Information and Broadcasting Minister, said action has to be taken by respective district magistrates. Besides sweeping the street, he also inspected a "sulabh shauchalaya" in the area and interacted with the locals to check the ground reality. He instructed Lucknow Deputy Mayor S Awasthi, who was present on the occasion, saying that maintaining cleanliness was among the top priorities of ... Read More

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Local student reacts to contentious French presidential election

Local student reacts to contentious French presidential election

Surveying Le Pen's results against more than a dozen such measures, the data suggest her message played particularly well in low-income areas with higher numbers of school dropouts.In fact, for each 1,000-euro drop in the median income in a given area, Le Pen scored almost two extra percentage points, according to a Reuters calculation using results and data from the Social Affairs Ministry . Read More

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Alphabet Q1 revenue increases 22 percent, shares surge

Google said first-quarter earnings were $7.73 a share, up 28% from a year earlier, with overall revenue rising 22% to $24.75 billion for the period ended March 31. "I also think we have learned a lot about how to set up new companies with a structure for success". Machine learning and all the efforts around Google Brain and Deepmind are good examples. Read More

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Woman march in Venezuelan capital against socialist govt

Interior and justice minister Nestor Reverol referred to the protesters as "terrorists" while stating the "lamentable" incident with Yaminne was under investigation. Opposition protests have often started peacefully but degenerated into violence when security forces block marchers and masked youths fight them with stones, Molotov cocktails and fireworks shot from pipes turned into homemade mortars. Read More

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Donald Trump signs spending bill to keep United States government going until September

Donald Trump signs spending bill to keep United States government going until September

Democrats say that the House's passage of the bill was a career-ender for almost two dozen GOP members, a suspicion reflected by non-partisan groups. And Democrats and the pragmatic Republicans who negotiated the bill successfully defended other accounts targeted by Trump such as foreign aid, the Environmental Protection Agency, support for the arts, and economic development grants, among others. Read More

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US jobs report points to a healthy drop in underemployment

But oil and gas prices stabilized last fall. Employment at all levels of government rose by 17,000. Average hourly earnings rose seven cents, or 0.3 percent, last month, partly because of a calendar quirk. Meanwhile, hourly wages continued to weaken, rising just 0.5 percent year-on-year. "Certainly the strong dollar is hitting domestic manufacturing", she said, noting that it made USA goods more expensive overseas. Read More

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