Business

What You Need to Know About Puerto Rico's Plebiscite

What You Need to Know About Puerto Rico's Plebiscite

Ninety-seven percent of the votes favored statehood but voter participation was just 23% after opposition parties called for a boycott of what they called a "rigged" process in part over the ballot language. Rossello, who heads the pro-statehood New Progressive Party, said his government would fight "in Washington and throughout the world" for the Caribbean island territory to be accepted as the 51st USA state, and for Puerto Ricans to gain "all the same opportunities" as other American ...



Exploding airbag scandal forces Takata to file for bankruptcy

TOKYO-Takata Corp.'s bankruptcy filing spells the end of a storied auto-parts maker, but the company could limp on for years supplying parts for the approximately 54 million defective air bags that still need to be replaced in the USA alone.


Federal Reserve Continues To Normalize Monetary Policy

Federal Reserve Continues To Normalize Monetary Policy

The prospect of higher interest rates will increase the opportunity cost of holding gold and had some negative impact on market confidence. Meanwhile, in view of stable economic conditions, the Fed plans to reduce its 4.5-trillion-U.S. On Wednesday, ahead of the Fed's policy update, yields jolted lower as key measures of inflation suggested that the central bank may be inclined to temper its pace of rate hikes.


Durable goods orders fell in May by the most in 18 months

Durable goods orders fell in May by the most in 18 months

A closely watched proxy for business investment in new equipment, orders for nondefense capital goods excluding aircraft, fell 0.2% in May from the prior month but was up 2.3% year-to-date. Total orders for durable goods fell 1.1 per cent to US$228.2 billion, almost twice the decline forecast by analysts. Still, the April core reading was up 0.2% rather than a breakeven reading that had been reported on a preliminary basis.



Takata, brought down by airbag crisis, files for bankruptcy

US drivers can log onto www.safercar.gov to search for recalls affecting their auto using its 17-digit vehicle identification number, which is located on the driver's side of the dashboard near the windshield. Japanese air bag maker Takata Corp . on Monday filed for bankruptcy protection, as part of a restructuring scheme to restore its business batte. Takata says the passenger side air bags contain an improper amount of generant, which produces the gas that makes them inflate.



Is the Whole Foods acquisition the beginning of Amazon's endgame?

The deal is subject to approval from both the regulators and shareholders and the company expects the deal to close in 2H17. The remarks offered a preview into how e-commerce giant Amazon might turn around the sluggish sales of Whole Foods since announcing on Friday it would buy the company for $13.7 billion, including debt.