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United States

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@trtworld

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Episodes

January 18th, 2019 - Biz in 60

1/18/2019
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EU willing to stave off trade war The European Union says it's prepared to lower tariffs on imported US cars in an effort to stave-off a trade war. Brussels says it's ready to work on a zero-tariff trade deal on industrial goods, following an agreement with Washington in July to deepen commercial ties. But the EU has also warned it would retaliate if the White House goes ahead with its proposed tariffs. Low spending Chinese market hits Tifanny&Co Luxury jeweler, Tiffany&Co has become the...

Duration:00:01:08

January 17th, 2019 - Biz in 60

1/17/2019
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Hitachi scraps UK nuclear power plant Japan's Hitachi has scrapped plans to build a 2.8-billion dollar nuclear power plant in the UK. The decision comes as the conglomerate failed to find private investors to fund the project in Wales, which promised to provide about 6-percent of Britain's electricity. Hitachi had called on the British government for financial support, but couldn't reach a deal. Morgan Stanley falls short of earnings forecasts Shares in Morgan Stanley have fallen more than...

Duration:00:01:07

January 16th, 2019 - Biz in 60

1/16/2019
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Bank of America shares up on better results Bank of America has reported stronger-than-expected fourth quarter results, sending its shares up 5-percent. The bank's quarterly profit tripled to a record 7.3-billion dollars, helped by rising interest rates and lower taxes. Goldman Sachs also posted strong results of 6-dollars and 4-cents per share in profit - topping estimates of 4-dollars and 53-cents a share. $ 5.2 billion deal keeps Sears open Sears has reportedly reached a 5.2-billion deal...

Duration:00:01:13

January 15th, 2019 - Biz in 60

1/15/2019
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JP Morgan falls short of targets Wall Street giant ,JP Morgan Chase, has missed fourth-quarter expectations but saw revenues rise across all of its major business lines in 2018. America's largest bank by assets reported a profit of 1-dollar-98 per share versus expectations of 2-20 a share. Meanwhile, Wells Fargo reported better-than-expected results for the same period, but revenue across all of its banking units fell. Lufthansa staff walk out, downs flights Lufthansa has cancelled around...

Duration:00:01:13

January 14th, 2019 - Biz in 60

1/14/2019
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Citigroup reports a decline in profits Citigroup's revenue fell 2-percent to a two-year low in the fourth quarter - missing Wall Street expectations. The bank's earnings rose 14-percent on lower expenses, credit costs and a lower corporate tax rate. The group's shares - which had dropped 18-percent in the last three months - climbed 2.8-percent on the report. Zimbabwe’s fuel hike sparks violent protests A hike in fuel prices in Zimbabwe has sparked violent protests across the country. The...

Duration:00:01:11

January 11th, 2019 - Biz in 60

1/11/2019
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Former Nissan chairman Carlos Ghosn faces more charges Japanese prosecutors have filed two new charges against former Nissan chairman Carlos Ghosn. He's already facing charges of financial fraud by under-reporting his income by 44-million dollars between 2010 and 2015. The new charges cover the same allegations covering the past three years. Ghosn's lawyers are seeking his release on bail. Fiat Chrysler recalls 1.6 million cars for airbag malfunction Fiat Chrysler is recalling 1.6-million...

Duration:00:01:11

January 10th, 2019 - Biz in 60

1/10/2019
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U.K retailers fall short of festive season profits British retailers suffered their worst Christmas in a decade. A report by the British Retail Consortium and KPMG has found despite price cuts during December, the month showed no year-on-year growth. Marks and Spencer and Debenhams both reported a decline in sales over the holiday period.. but supermarket giant, Tesco, managed to buck the trend on strong food sales. Nike faces EU Commission tax probe The European Commission has launched an...

Duration:00:01:10

January 9th, 2019 - Biz in 60

1/9/2019
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British MPs put Theresa May under more pressure British MPs have dealt another blow to Prime Minister Theresa May ahead of next week's parliamentary vote on her Brexit deal. MPs from her own party have voted with the opposition to force May to come up with another Brexit plan within three days instead of three weeks if the deal is rejected. Britain is set to leave the EU on the 29th of March. Tokyo court rejects Ghosn bid to end detention A Tokyo court has rejected a bid by former Nissan...

Duration:00:01:08

January 8th, 2019 - Biz in 60

1/8/2019
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Jim Yong Kim makes shock resignation In a shock move, World Bank president Jim Yong Kim has announced he's stepping down after six years in the post to join a private investment firm. Kim wasn't due to leave until 2022, after he was re-elected for a second five-year term last year. The World Bank's CEO Kristalina Georgieva will step-in as interim president. SoftBank shares rally as it cuts WeWork investment Japanese conglomerate, SoftBank, is slashing a planned 16-billion dollar investment...

Duration:00:01:08

January 7th, 2019 - Biz in 60

1/8/2019
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Susan Zirinsky named first female CBS News boss Susan Zirinsky has been named as the new president and senior executive producer of CBS News. Zirinsky will replace David Rhodes in March as the first woman to head the network's news division. CBS has been hit with multiple allegations of sexual misconduct - including one that resulted in the resignation of the company's longtime CEO, Les Moonves in September. Tesla breaks ground at first factory in China Elon Musk has broken ground at Tesla's...

Duration:00:01:11

January 4th, 2019 - Biz in 60

1/4/2019
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US economy adds 312,000 jobs in December The US economy posted its strongest jobs growth in 10 months in December while wages jumped 3-point-2 percent. Non-farm payrolls surged by 312-thousands jobs, boosted by hiring in the healthcare, hospitality and manufacturing sectors. Despite the strong growth, the unemployment rate nudged higher to 3-point-9 percent. Turkey's trade deficit narrows by 29% in 2018 Turkey's trade deficit narrowed by 29-percent to 55-billion dollars in 2018, as exports...

Duration:00:01:12

January 3rd, 2019 - Biz in 60

1/3/2019
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Bristol-Myers to buy Celgene for $74B US drugmaker Bristol-Myers Squibb will buy biotech group, Celgene, for 74-billion dollars. The acquisition will create a pharmaceutical leader in cancer and immunologic disease treatments, as competition in the immunotherapy space heats-up. Shares in Bristol-Myers fell more than 11-percent, while Celgene stock shot-up 30-percent on the news. Next shares jump despite profit outlook cut Shares in British fashion retailer, Next, rose more than 6-percent...

Duration:00:01:10

January 2nd, 2019 - Biz in 60

1/2/2019
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Tesla shares tumble as Q4 deliveries disappoint Shares in Tesla have fallen around 8-percent after missing Wall Street vehicle delivery estimates for the fourth quarter. The electric carmaker delivered nearly 91-thousand cars last quarter, despite its efforts to ramp-up production. The company has announced a 2-thousand dollar discount on its cars in the US in response to the scrapping of a green tax credit. First Afghan shipment arrives via Lapis Lazuli The first shipment of Afghan exports...

Duration:00:01:11

December 28th, 2018 - Biz in 60

12/28/2018
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Tesla names two independent directors to board Tesla has appointed two independent directors as part of a settlement reached with the US Securities and Exchange Commission. Oracle founder Larry Ellison and the HR boss of the Walgreens Boots Alliance Kathleen Wilson-Thompson will join the electric carmaker's board. Tesla agreed to the appointments to settle an SEC lawsuit which alleged CEO Elon Musk misled investors about taking the company private. UK music retailer HMV files for...

Duration:00:01:12

December 21st, 2018 - Biz in 60

12/21/2018
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Malaysia seeks $7.5B damages from Goldman Sachs Malaysia's finance minister says the country's seeking 7-and-a-half billion dollars in reparations from Goldman Sachs over the 1MDB corruption scandal. Earlier this week, Malaysian authorities brought criminal charges against the US bank over its role in arranging bond sales for the state fund. Meanwhile, Singapore has expanded its own 1MDB probe to include Goldman Sachs. Nike Q2 results beat expectations Nike has reported better than expected...

Duration:00:01:11

December 20th, 2018 - Biz in 60

12/20/2018
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Saudi aims to sell $32B worth of bonds in 2019 Saudi Arabia wants to sell around 32-billion dollars of bonds next year to help finance its deficit. In an interview with Bloomberg, Finance Minister Mohammed Al-Jadaan said the kingdom would issue the bonds mainly in dollars, but could venture into other currencies including the euro and yen. Saudi Arabia issued international bonds for the first time in 2016. Court rejects bid to extend Ghosn's detention A Japanese court has rejected a request...

Duration:00:01:08

December 18th, 2018 - Biz in 60

12/18/2018
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Seoul to provide $3B support for car suppliers South Korea will provide more than 3-billion dollars in financial support for its embattled car parts makers. The move comes as a slowdown in the Korean economy continues to hurt its major export industries. The number of loss-making car suppliers has risen to more than 30 this year compared to just six in 2015. Turkey retail sales fall by 7.5% in October Turkey's retail sales tumbled by seven-and- a-half percent in October, marking a second...

Duration:00:01:10

December 17th, 2018 - Biz in 60

12/17/2018
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ASOS shares plunge by 40% on profit warning Shares in Asos have plunged around 40-percent after the British online fashion retailer issued a profit warning as Christmas sales struggle. The company said earnings for the year would be hit by weak consumer confidence, increased discounting and unusually mild weather. Shares in other British retailers were also dragged down. Qatar to invest $20B in US energy sector Qatar Petroleum is planning to invest more than 20-billion dollars in the US over...

Duration:00:01:09

December 14th, 2018 - Biz in 60

12/14/2018
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China to suspend additional tariff on US cars China will halt its additional 25-percent tariff on US-made cars for three months starting from January. In July, Beijing raised duties on US car imports to 40-percent in retaliation for US tariffs on 50-billion dollars' worth of Chinese goods. The move comes as part of an agreed truce in a trade war between the world's two largest economies. China's factory output, retail sales disappoint China has also reported lower-than expected industrial...

Duration:00:01:10

December 13th, 2018 - Biz in 60

12/13/2018
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Turkey's central bank holds policy rate at 24% Turkey's central bank has kept its benchmark interest rate unchanged at 24-percent for the second consecutive month. The decision comes after inflation eased from a 15-year peak in November, due to a stronger lira and government measures. The bank hiked its policy rate by 625 basis points in September. Nigeria files $1.1B lawsuit against Shell, Eni The Nigerian government is suing Royal Dutch Shell and Eni in a London court over a 2011 oil field...

Duration:00:01:11