Economy

Trump assails Canadian tariffs, accuses people of smuggling US goods home

Trump assails Canadian tariffs, accuses people of smuggling US goods home Boeing's stock shed 3.6 percent, Caterpillar 3.7 percent and GE 1.7 percent. Broad measures of American equities have held up better than their Chinese counterparts, but striation within the United States markets suggests that investors anticipate steep losses in some stalwart names. [Full Article...]

Merkel, Macron search for reforms to halt European Union 'disintegration'

Merkel, Macron search for reforms to halt European Union 'disintegration' Italy and France have also become involved in the migrant debate , with Italy's interior minister Matteo Salvini, who is the deputy Prime Minister of the country, refusing to accept new refugee boats and calling for asylum seekers to be equally distributed across the European Union , rather than being hosted by the first country they land in. [Full Article...]

Nigeria, S-Arabia, others disagree over oil supply

Nigeria, S-Arabia, others disagree over oil supply Opec's supply-cutting pact runs until the end of 2018. Benchmark Brent crude fell US$1.76 a barrel, or more than 2 percent, to a low of US$72.98 before recovering slightly to US$73.34, down US$1.40, by 0945 GMT. Saudi Arabia and Russian Federation are said to be proposing a production boost of 1.5 million bpd, which observers and OPEC sources think is just a starting point for negotiations to s... [Full Article...]

Audi chief exec arrested over Dieselgate vehicle emissions scandal

Audi chief exec arrested over Dieselgate vehicle emissions scandal He joined Porsche-family-controlled VW in 1990. Former Volkswagen CEO Martin Winterkorn was charged in federal court in Detroit with conspiring to mislead regulators about the German automaker's diesel emissions. Stadler has been detained as part of a probe into emissions cheating by the company. Audi has long faced suspicions that its engineers helped create the software used in the V... [Full Article...]

Burger King Russia Apologises For Promotion During World Cup

Burger King Russia Apologises For Promotion During World Cup The original post, which was in Russian , of course, but has been roughly translated by Deadspin , read: "Burger King, within the framework of social responsibility , has appointed a reward for girls who get pregnant from the stars of world football". [Full Article...]

Germany's largest automakers back abolition of EU-U.S. auto import tariffs

The European Commission today formally adopted the implementing regulation that will slam 25 percent tariffs on a list of American products worth €2.8 billion. Announcing the European response, which will target £2.4billion (€2.8bn) worth of United States products, Ms Malmstrom said Brussels had no choice but to fight back. [Full Article...]

After $31 million hack, crypto exchange Bithumb halts withdrawals

After $31 million hack, crypto exchange Bithumb halts withdrawals As mentioned earlier, Bithumb was the second cryptocurrency exchange to be hacked within this month. Bithumb plans to compensate users affected by the hack - they intend to cover all the losses. It is the latest series of cyberattacks on crypto exchanges that have raised security concerns for investors. Enthusiasm for virtual currencies has waned this year partly due to a string of cyber hei... [Full Article...]

Computer issues in Charlotte delay flights in Toledo

Computer issues in Charlotte delay flights in Toledo American Airlines blames the delays on problems with a computer program that deals with flight operations and crew bookings. American Airlines regional carrier PSA issued a ground stop Sunday for some planes coming in and out of Charlotte. [Full Article...]

Starbucks to close 150 stores amid slowing sales

Starbucks to close 150 stores amid slowing sales The company anticipates 1 percent growth in global sales for the third quarter. Starbucks' Executive Chairman Howard Schultz stepped away from the company in June surprising investors at time when the company has faced raft of worrying headlines. [Full Article...]

Fox Is Said to Lean Toward Starting Negotiations on Comcast Bid

Fox Is Said to Lean Toward Starting Negotiations on Comcast Bid As part of the deal, Disney will acquires 20th Century Fox , Fox's film studio, as well as a cable group that includes FX Networks, National Geographic and several worldwide channels and regional sports networks. It did not mention Comcast's bid. AT&T just bought Time Warner for $81 billion, after a federal judge rejected the government's antitrust concerns. The deal would include Fox film and ... [Full Article...]

Trump Threatens China With Fresh Tariffs On $200 Billion Of Imports

On July 1, Canada is set to impose retaliatory action of $16.6 billion on USA products after Trump slapped tariffs on aluminum and steel - and he has threatened more to come on automobiles. If the U.S. goes ahead with the new $200 billion tariffs , they are more likely to be directly felt by individuals than the previous round. "If China increases its tariffs yet again, we will meet... [Full Article...]

Microsoft Facing Threats of Boycott for Collaboration with ICE

Microsoft Facing Threats of Boycott for Collaboration with ICE We are also a beacon of hope for those who need it the most. The letter also asks Microsoft to enact a policy that states it will not work with companies that violate global human rights laws, and references a January statement from Microsoft that proudly announces the contract. [Full Article...]

China accuses Trump of ‘blackmail after new tariffs threat

China accuses Trump of ‘blackmail after new tariffs threat Navarro also disputes any notion that the trade standoff would damage the broader relationship with China. They include electric cars, whiskey and soybeans - a politically and economically vital export of America's heartland, where Trump enjoys support. [Full Article...]

U.S. stock markets fall sharply amid fears of global trade war

The ongoing trade dispute between the United States and China knocked the yuan to 6.4660 per dollar, its weakest in more than five months in the offshore market. move in quantity and quality", the Chinese Commerce Ministry said in a statement Tuesday. But China has a much "stronger countermeasure" at its disposal when it comes to the USA, notes Dean Baker , an economist at the Center for ... [Full Article...]

Tesla chief Elon Musk accuses worker of sabotage

Tesla chief Elon Musk accuses worker of sabotage It remains unclear if the two events are linked, but Musk claimed in his Sunday email that there "there are a long list of organizations that want Tesla to die". A Tesla spokeswoman confirmed the authenticity of the Monday email, which CNBC reported first. Tesla told CNBC it "was extinguished in a matter of seconds" and "there were no injuries or significant equipment damage". [Full Article...]

Trump threatens to slap China with $200 billion in new tariffs

Trump threatens to slap China with $200 billion in new tariffs The statement from Trump on Monday said that China's response showed that Beijing had no plans to address the underlying IP theft and required escalation by the US. China's Government denounced Mr Trump's threat and warned it would respond with "strong countermeasures". When you consider the number of jobs that Apple is responsible for in the country, and how highly the iPhone is thoug... [Full Article...]

NTSB sends specialist to look into California Tesla fire

NTSB sends specialist to look into California Tesla fire She added, "And thank god my three little girls weren't in the vehicle with him". Startling video showing a Tesla Model S appearing to burst into flames. "Our initial investigation shows that the cabin of the vehicle was totally unaffected by the fire due to our battery architecture, which is created to protect the cabin in the very rare event that a battery fire occurs", the statement said. [Full Article...]

Amazon's Prime offer 'not impressive' but just the start

The company announced just two weeks ago that Aussie shoppers will no longer be able to purchase goods from Amazon's overseas sites - a decision that was made in the face of new laws that mean GST must be applied to all purchased goods shipped to Australia, even if they're bought from global sellers. [Full Article...]

Trump threatens to impose more trade tariffs on China

Trump threatens to impose more trade tariffs on China The first tranche of the US duties on goods totaling $34 billion will go into effect July 6, with the remaining $16 billion imposed at a later date. The intellectual property sanctions were the latest in a spate of protectionist measures unveiled by Mr. [Full Article...]

Trump's consumer watchdog pick draws criticism from left and right

Trump's consumer watchdog pick draws criticism from left and right The Hill recently wrote up " five ways Mulvaney is cracking down on his own agency ", and they include dropping cases against payday lenders, dismissing three advisory boards and an effort to rebrand the operation as the Bureau of Consumer Financial Protection - a move critics say is meant to deemphasize the consumer part of the agency's mission. [Full Article...]


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