Economy

GM says USA import tariffs could mean ‘smaller’ company, fewer jobs

GM says USA import tariffs could mean ‘smaller’ company, fewer jobs In comments filed with the Commerce Department, which is evaluating whether auto imports threaten USA national security as the president has suggested, GM said the new tariffs would hurt the economy. Mazda's US unit said in a statement it filed the comments on behalf of 32,000 Americans who work for Mazda and the brand's dealerships. Combined with existing steel and aluminum tariffs, and tari... [Full Article...]

Iran vice president says private sector to buy, export oil

Iran says it will find ways to export its oil, despite what he does. Late last week, Iran's Oil Minister Bijan Zangeneh urged the Organization of Petroleum Exporting Countries ( OPEC ) to prevent some of its members from increasing output without arriving at a consensus. [Full Article...]

LeBron James signs with Lakers

LeBron James signs with Lakers In 2017-18, the Lakers' Oct. 19 opener vs. the Los Angeles Clippers featured StubHub tickets for as low as $60. With some savvy moves, the Lakers are poised to potentially add two superstars - James and Paul George and maybe Kawhi Leonard - to a team featuring up-and-coming talents like Kyle Kuzma , Brandon Ingram and Lonzo Ball . [Full Article...]

BMW: Trump's Tariffs Threaten Jobs In Republican South Carolina

The European Commission reportedly sent a letter to the U.S. threatening to hit $US300 billion of American goods with tariffs. The European Union warned on Monday that up to $294 billion worth of United States exports would face counter-measures if President Donald Trump went through with his threat to slap duties on auto imports. [Full Article...]

Kuwait pumps up oil output as part of OPEC, Russia plan

Kuwait pumps up oil output as part of OPEC, Russia plan Outside North America, oil prices have been rallying for most of 2018 due to record demand and voluntary supply cuts led by the Middle East dominated producer cartel of the Organization of the Petroleum Exporting Countries ( OPEC ). This means Nayara will limit its monthly consumption of Iranian oil to between 3 million and 4 million barrels. Later on Saturday, the Saudi SPA news agency also r... [Full Article...]

Iran announces plan to circumvent U.S. oil sanctions

The leader of Saudi Arabia promised U.S. President Donald Trump that he can raise oil production if needed and the country has 2 million barrels per day of spare capacity, the White House said on Saturday. In late 2016, OPEC members and 11 non-OPEC countries struck a deal to reduce oil output by 1.8 million barrels per day compared to October 2016. Without naming Saudi Arabia, Zangeneh wro... [Full Article...]

US Coast Guard searching for missing cruise ship crewmember north of Cuba

US Coast Guard searching for missing cruise ship crewmember north of Cuba Carnival Cruise Line President Christine Duffy calls the rescue "nothing short of miraculous". "Kudos to the Carnival Glory team". The man went overboard from the Norwegian Getaway and had been drifting since at least Saturday. Coast Guard which launched several aircraft (HC-144 Ocean Sentry and Clearwater HC-130 Hercules) and a Cutter. "One of the things that the Coast Guard could never c... [Full Article...]

Tesla made 5,031 Model 3s in a week

Tesla made 5,031 Model 3s in a week In the email, Musk wrote that production could hit 6,000 Model 3s a week by next month. That is a sentiment shared by Dave Sullivan, manager of product analysis at market research firm AutoPacific Inc. What needs to happen to ultimately get to 10,000 cars a week, and when is that going to be achievable? The Model 3, a relatively low-priced model for Tesla, is meant to transform the company fro... [Full Article...]

Opportunity! Amazon Wants You to Deliver Its Packages

Opportunity! Amazon Wants You to Deliver Its Packages Inc. says startup costs begin at $10,000, and the businesses created under the program would operate 20 to 40 vans and employ between 40 and 100 people. Drivers will be full-time workers instead of contractors, and Amazon will require business owners to give them paid time off and other benefits. Amazon said in a release that owners of these delivery businesses have the potential to earn a... [Full Article...]

Trump urges Saudis to raise oil output ‘by two million barrels’

Trump urges Saudis to raise oil output ‘by two million barrels’ It's not yet clear if the increase with which, according to Trump, Saudi Arabia has agreed is in addition to the amount agreed with OPEC , though as Bloomberg reported this week, the state-run oil company Saudi Aramco plans to increase production starting in July to some 10.8 million barrels per day under pressure from the US. [Full Article...]

Marketing Firm Leaked Personal Info Database With 340M Records

Marketing Firm Leaked Personal Info Database With 340M Records A recent Exactis data leak reveals personal information for hundreds of millions of people. If you're a United States citizen, your personal information - your phone number, home address, email address, even how many children you have - may have just become easily available to hackers in an alleged massive data leak. [Full Article...]

Saudis will pump up oil production, says Trump

Saudis will pump up oil production, says Trump The two leaders stressed the importance of maintaining oil-market stability , according to the report. They also discussed "efforts by the oil producing countries to compensate for any potential shortage in supplies", it added. Trump's comments came Saturday as global financial markets were closed. In reality, the output increase isn't expected to exceed 700,000 barrels per day because some mem... [Full Article...]

Zero oil exports for Iran 'impossible,' says official

Zero oil exports for Iran 'impossible,' says official Some close US allies are among the largest importers of Iranian crude oil, including India and South Korea . The dramatic ramp up in production suggests that Riyadh wants to prevent prices from rising too much. He also warned " Libya will continue to be a significant point of concern in the oil supply chain". Haley has been the tough United States face, taking the hard line against Iran, Nor... [Full Article...]

Saudi-Russian Oil Cooperation to Stabilize Market

Saudi-Russian Oil Cooperation to Stabilize Market Brent crude, the global benchmark, rose to $78.06 a barrel, around $2.50 off its multiyear high. The American Petroleum Institute reported late Tuesday a 9.2 million-barrel drop in crude supplies. "If we are going to see more Iranian barrels coming off the market, that is likely to be bullish for USA exports". During the meeting, it was made a decision to boost oil production, however, the vol... [Full Article...]

Trump says Saudi king agrees to ramp up oil production

US President Donald Trump said in a tweet on Saturday that Saudi Arabia's King Salman had agreed to his request to increase oil production "maybe up to 2,000,000 barrels" to offset production from Iran and Venezuela . "Prices too high! He has agreed!" A gallon of regular gasoline sold on average in the USA for $2.85, up from $2.23 a gallon past year, according to AAA . [Full Article...]

Amazon wants to help you start your own delivery business

Amazon wants to help you start your own delivery business The catch? Besides the fact that Amazon Delivery Service Partners will be responsible for recruiting and hiring their own drivers (and ultimately managing the business), those Amazon-branded delivery vans can only be used to deliver packages for Amazon . [Full Article...]

Canada announces billions in retaliatory tariffs against US

Canada announces billions in retaliatory tariffs against US Freeland and Prime Minister Justin Trudeau announced dollar-for-dollar tariffs of their own back in May on some steel and aluminum products and other goods from the us - including beer kegs, whisky, toilet paper and hair lacques. She also filed a separate complaint under the North American Free Trade Agreement, arguing the the USA tariffs are "completely unacceptable" and "illegal". [Full Article...]

Goodbye, Geoffrey: Toys R Us closing its last stores

Goodbye, Geoffrey: Toys R Us closing its last stores Another poster has a letter from Geoffrey that reads: 'One day, all of us will get separated from each other. It was only a few months later in January 2018 that the chain announced it would close 180 stores thanks to its $5 billion debt. [Full Article...]

CO2 shortage: Coca-Cola pauses production at some plants

CO2 shortage: Coca-Cola pauses production at some plants Five carbon dioxide producers in northern Europe are now offline for maintenance, claims Gasworld , leaving the United Kingdom with only one large supplier. The shortage forced Scotland's largest pig processing plant run by Quality Pork Limited in Brechin to suspend slaughtering this week. 'We are now working hard with our suppliers to minimise the impact for our customers and can not comment f... [Full Article...]

Rahul targets PM Modi over rise in Indian money in Swiss banks

Rahul targets PM Modi over rise in Indian money in Swiss banks The total funds held by all foreign clients of Swiss banks, however, rose to 1.46 trillion francs in 2017 from 1.42 trillion francs in 2016 despite the Alpine country dismantling bank secrecy. The agreement for automatic exchange of information was signed between Switzerland and India last November under which both countries would start collecting data in accordance with the global standards in ... [Full Article...]


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