Economy

Paul Ryan Blasts Tariffs After Harley-Davidson Shift

Paul Ryan Blasts Tariffs After Harley-Davidson Shift The President also predicted the company's demise - "they surrendered, they quit!" - and said their "Aura will be gone". The trade wars with the European Union are only the most recent act by the Trump administration that has forced Harley-Davidson to shrink its footprint in the US. [Full Article...]

Turkey’s election reveals the durability of nationalism

Turkey’s election reveals the durability of nationalism With Turkey holding parliamentary and presidential elections on the same day for the first time, Erdogan was also able to enjoy an overall majority in parliament with the help of his allies from the right-wing Nationalist Movement Party (MHP). [Full Article...]

Politicians can't ignore the people: Lammy on anti-Brexit march

Politicians can't ignore the people: Lammy on anti-Brexit march Organisers said that about 100,000 demonstrators marked the second anniversary of the Brexit vote by marching from Pall Mall to Parliament, demanding another referendum - this time on the terms of Brexit. Their comments in interviews to mark two years since the British people voted to leave the European Union were made before Airbus warned it could be forced to pull out of the United Kingdom if th... [Full Article...]

US stocks slide on escalating US-China trade tensions

US stocks slide on escalating US-China trade tensions Benchmark Wall Street stock indexes suffered their worst losses in two months on Monday, while safe haven Treasury debt yields fell. The move marks another escalation of President Donald Trump's trade conflict with China, which threatens to roil financial markets and dent global growth. [Full Article...]

'Waving white flag': Trump hammers Harley-Davidson

'Waving white flag': Trump hammers Harley-Davidson More potential pitfalls for Harley-Davidson and other USA manufacturers could be on the way. The move is one of the most visible consequences of the trade disputes triggered by US President Donald Trump's decision to levy tariffs on steel and aluminium imports. [Full Article...]

Trade war worries whack Wall Street and European markets. We're next!

Trade war worries whack Wall Street and European markets. We're next! This is what the South China Morning Post reported about Apple in early February this year: "The world's most valuable company reported on Thursday in the United States an 11% increase in its combined fiscal first-quarter revenue from mainland China, Hong Kong and Taiwan to US$17.9 billion, up from US$16.2 billion in the same period a year ago". [Full Article...]

Turkey elections: was Recep Tayyip Erdogan’s victory fair?

Turkey elections: was Recep Tayyip Erdogan’s victory fair? Tayyip Erdogan and his ruling AK Party took an early lead in presidential and parliamentary elections on Sunday, according to preliminary partial results , boosting the president's hopes of extending his 15-year rule. The new powers acquired by this election grant Erdogan nearly total control over the levers of the state. Margot Wallstrom, Sweden's foreign minister, said Turkey's democracy ha... [Full Article...]

Stung by tariffs, Harley Davidson shifts some production overseas

Stung by tariffs, Harley Davidson shifts some production overseas More potential pitfalls for Harley-Davidson and other USA manufacturers could be on the way. The company said it will raise investment in its global plants, but did not say which ones. "I feel really we are making progress...both China and the European Union believes in multilateralism and a rules-based world order", Katainen told CNBC . [Full Article...]

Harley, stung by tariffs, shifts some production overseas

New U.S. tariffs on steel and aluminum could increase the company's bill for raw materials by as much as $20 million this year. The EU's trade chief said last week that it was "left with no other choice" after Mr. The disclosure reveals the mounting cost of the President Trump's confrontational trade policy and, in particular, his controversial decision to justify Trump tariffs on USA allies based... [Full Article...]

Harley-Davidson will move some production out of USA after retaliatory tariffs

Harley-Davidson will move some production out of USA after retaliatory tariffs The famed motorcycle maker said in a regulatory filing Monday that European Union tariffs on its motorcycles exported from the USA jumped from 6 percent to 31 per cent. said that it will not raise its prices due to "an immediate and lasting detrimental impact to its business in the region", according to the AP. "Increasing global production to alleviate the European Union tariff burden is not th... [Full Article...]

Anti-Brexit protesters march for new referendum

Anti-Brexit protesters march for new referendum Saturday marked two years since Britain voted 52 to 48 per cent to quit the 28-nation EU. Britain is due to leave on 29 March 2019, 46 years after it first joined the European Economic Community, the forerunner to the EU. Theresa May has been urged by hardline Brexiteers to speed up preparations for a "no-deal" Brexit to put pressure on Brussels during withdrawal negotiations. [Full Article...]

Berlin says European Union summit won't solve migration problem

Berlin says European Union summit won't solve migration problem Merkel instead advocated bilateral and trilateral deals to cope with migrants in Europe. At loggerheads over hosting asylum seekers, European Union states agree they want to work more with other regions such as north Africa to prevent people from setting sail for Europe. [Full Article...]

Kentucky Bourbon Warehouse Collapse Sends 9,000 Booze Barrels Rolling

Kentucky Bourbon Warehouse Collapse Sends 9,000 Booze Barrels Rolling According to WHAS-TV, the Bardstown, Kentucky, bourbon warehouse holds 20,000 barrels. 'We are assessing how numerous impacted barrels can be recovered, ' Louisiana-based spirits company Sazerac spokeswoman Amy Preske said . At this time we do not know which Barton 1792 brands or customers will be impacted. Spalding says there were no injuries inside the structure, which was holding about 18,... [Full Article...]

Bank of England leaves bank rate at 0.5 pct, rise expected

Bank of England leaves bank rate at 0.5 pct, rise expected Minutes of the MPC meeting showed Haldane (pictured below) joined Michael Saunders and Ian McCafferty, the committee's two hawks, in believing the United Kingdom economy could cope with a slightly higher cost of borrowing. BoE members expect inflation to pick up slightly more than forecast in the near term. With unemployment at its lowest since 1975, the BoE says the economy is near full capacit... [Full Article...]

Greek economy crisis: Eurozone ministers seek end to Greece bailout odyssey

Greek economy crisis: Eurozone ministers seek end to Greece bailout odyssey French Finance minister Bruno Le Maire said going into the meeting that "we have to recognise that Greece has really made the job - they have fulfilled their commitments". Greece has already received 275 billion euros ($320 billion) in financial support from the European Union over the past eight years. Greece's euro-area creditors struck a landmark deal to ease repayment terms on some of the na... [Full Article...]

MoviePass to Roll Out Surge Pricing for Popular Films

MoviePass to Roll Out Surge Pricing for Popular Films Twice the price for a quarter of the theater network and 60 per cent fewer movies. AMC Stubs A-List membership plan, which also features concessions discounts, is set to debut Tuesday. For example: Under the new rule, a movie like Jurassic World: Fallen Kingdom would cost you another $2 on top of the $9.99 monthly subscription cost. [Full Article...]

Eurozone gets deal to pave way for end to Greece's bailout

Eurozone gets deal to pave way for end to Greece's bailout Officials said on Thursday that only part of the outstanding 22 billion euros owned by the International Monetary Fund and euro central banks could be bought out, adding that talks were still ongoing. Under pressure from its creditors, Greece has already agreed to slash pensions again in 2019, and reduce the tax-free income threshold for millions of people in 2020. [Full Article...]

Tesla vs Former Employee Story Takes Bizarre Twist With an Alleged Threat

Tesla vs Former Employee Story Takes Bizarre Twist With an Alleged Threat This news comes after a leaked memo made its rounds across the internet earlier this week with claims that a disgruntled employee had purposefully programmed Tesla's manufacturing line with the malicious intent of stymieing production. [Full Article...]

Chamber, Governor Applaud Supremes' Online Sales Tax Ruling

Chamber, Governor Applaud Supremes' Online Sales Tax Ruling On June 21, the US Supreme Court overturned a 26-year ban on levying online sales tax, satisfying South Dakota's complaint of an outdated ruling that had made much of the internet a tax-free zone. This latest Supreme Court ruling said that earlier decision was obsolete in an era of explosive e-commerce. Sales tax collection previously followed that is commonly known as the physical prese... [Full Article...]

EU slaps tariffs on US as trade war erupts

EU slaps tariffs on US as trade war erupts President Donald Trump and senior U.S. politicians. "You could tell on the market, in talking to dealers, that some customers said , I want to fulfill my dream before any tariffs come into effect", he said. sales, American-made cars made only 1.3% of German registrations in the first quarter". He added that tariffs would be discussed with President Donald Trump when he visits in July. [Full Article...]


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