Markets

Markets EU tariffs on US goods take effect as trade war erupts
Author: 0 EU tariffs on US goods take effect as trade war erupts

Turkey is targeting US products and India has announced tariffs on 29 USA products, including steel and iron, almonds, walnuts, and chickpeas. Reuters reported that Gao Feng, a spokesman for the Chinese Commerce Ministry, said the Trump administration's trade policies will in the end be counterproductive for American interests.

Markets Opec’s challenge - to pump more oil while keeping deal in place
Author: 0 Opec’s challenge - to pump more oil while keeping deal in place

It isn't oil producers calling the shots during today's favorable market for energy producers; rather a tacit agreement between the biggest producer and the biggest consumer of oil appears to be holding sway. "OPEC is an independent organization, not an organization to receive instruction from President Trump", Zanganeh said on Tuesday. "We hope that there will be an agreement", Iraqi Oil Minister Jabbar al-Luaibi told reporters.

Markets Nigeria, S-Arabia, others disagree over oil supply
Author: 0 Nigeria, S-Arabia, others disagree over oil supply

The odds of the Organization of Petroleum Exporting Countries reaching a deal on Friday have increased through the week. Oil prices surged almost 75 percent, touching $80 a barrel, after OPEC and allies agreed to cut production in late 2016.

Author: 0 Supreme Court Rules All Online Purchases Can Be Subject to Sales Tax

The Supreme Court on Thursday overturned a longstanding precedent that states can only require retailers to collect sales tax when they have a physical presence there. The exception is when buying from a third-party seller that sells goods on Amazon . In its challenge, South Dakota noted that "times have changed", with online sales growing at four times the rate of total retail sales.

Markets Iowa farmers face hefty losses from U.S.-China trade war
Author: 0 Iowa farmers face hefty losses from U.S.-China trade war

The two nations are edging toward a trade fight that analysts say would undermine both their economies and likely slow global growth. Large U.S. companies with significant overseas business were hit especially hard. "This practice of extreme pressure and blackmail deviates from the consensus reached by both parties on many occasions and is disappointing for the worldwide community", the Commerce Ministry said in a statement.

Markets Microsoft Facing Threats of Boycott for Collaboration with ICE
Author: 0 Microsoft Facing Threats of Boycott for Collaboration with ICE

ICE reported that Federal Protective Service officers were called to the Macadam Avenue office Tuesday afternoon due to protesters rallying against President Donald Trump's "zero tolerance" policy on immigration. My story would not have been possible anywhere else. Today Brad detailed our company's position on this issue, as well as the immigration legislation now being considered in Congress, and I encourage you to read hisblog post.

Markets Cryptocurrency exchange Bithumb stops deposits, withdrawals after hack
Author: 0 Cryptocurrency exchange Bithumb stops deposits, withdrawals after hack

Bithumb announced on Wednesday, 20 June 2018 that $30 million in cryptocurrency had been stolen from its coffers. The exact time the hack occurred is unknown at the moment. This time, it was Coinrail, a relatively smaller exchange service. The Bithumb theft highlights the security risks and the weak regulation of global cryptocurrency markets.

Markets Musk Claims Tesla Employee Tried To Sabotage Automaker
Author: 0 Musk Claims Tesla Employee Tried To Sabotage Automaker

Shares in the EV maker fell by 2.3 per cent in early trading following the revelation that troubled Tesla could be a victim of sabotage. Musk listed "oil & gas companies" and "Wall Street short sellers" as being among the company's potential enemies.

Markets Renewed U.S.-China trade spat boosts safety demand for yen
Author: 0 Renewed U.S.-China trade spat boosts safety demand for yen

The top White House trade adviser, Peter Navarro, says Beijing "may have underestimated the resolve of President Donald J. Trump" by refusing to meet USA demands on trade and by threatening to retaliate against American trade sanctions. Treasury Secretary Lawrence Summers said in an interview on Bloomberg Television. More than 800 exports, about $34 billion worth, will be subject to tariffs starting July 6.

Author: 0 Trump threatens additional tariffs on $200 billion of Chinese goods

US President Donald Trump has threatened to impose a 10% tariff on $200 billion worth of Chinese goods, escalating a tit-for-tat trade war with Beijing. Mr. Trump's comments came hours after the top USA diplomat accused China of engaging in "predatory economics 101" and an "unprecedented level of larceny" of intellectual property.

Markets Difficult Merkel allies mull next move in German migrant row
Author: 0 Difficult Merkel allies mull next move in German migrant row

Also, Seehofer supports blocking asylum-seekers whose applications were previously rejected by Germany . Joachim Herrmann, Bavaria's interior minister, insisted the CSU was not intending to destabilise the CDU. Seehofer and Merkel have long had an awkward relationship. The calls for tougher policies have come even though the number of people reaching European shores in search of protection has declined.

Markets Audi CEO Rupert Stadler arrested in diesel emissions scandal
Author: 0 Audi CEO Rupert Stadler arrested in diesel emissions scandal

Munich prosecutors searched Mr Stadler's private residence last week in their investigation of suspected fraud and indirect improprieties with documents. Shares in Volkswagen dropped by 2 per cent in Frankfurt . Former Volkswagen CEO Martin Winterkorn was charged in federal court in Detroit with conspiring to mislead regulators about the German automaker's diesel emissions.

Markets McDonald's to phase out plastic straws in United Kingdom and Ireland
Author: 0 McDonald's to phase out plastic straws in United Kingdom and Ireland

McDonald's is to replace plastic drinking straws with paper in all of its United Kingdom and Ireland (Other OTC: IRLD - news ) branches. The Island's outlet on Peel Road went through 60,000 in May alone. McDonald's has been under fire for its use of plastic on such a large, global scale. The eventual replacement of plastic straws by McDonald's worldwide will hopefully reduce the amount of waste dumped into the environment.

Markets Canceled American Airlines flights leave hundreds stranded in Charlotte
Author: 0 Canceled American Airlines flights leave hundreds stranded in Charlotte

There were no problems with American Airlines itself or other regional carriers. All other flights were showing as on time. By Friday morning, many stranded passengers complained the airline was not reacting quickly enough. We've all got important reasons to be home - you can do better than this, right?" Several flights in an out of Norfolk and Newport News were impacted Friday.

Author: 0 Trade tariffs: Chinese media in Trump 'fools build walls' jibe

Trade Representative that found China's trade practices related to technology and intellectual property are discriminatory and burden the U.S. economy. A spokeswoman for grain trader Archer Daniels Midland also said bilateral dialogue should be pursued, adding that China "continues to be an important export market for American food and agriculture".

Markets European Central Bank will stop its bond-buying scheme, €30bn a month, next December
Author: 0 European Central Bank will stop its bond-buying scheme, €30bn a month, next December

The ECB on Thursday said it would phase out by the end of this year its bond-buying stimulus for the 19 countries that use the euro . WALL STREET: U.S. "The intention of our interest rate formulation is to give it a time dimension, but not a precise one", he said. It is possible that the cautious mood has something to do with the fact that today it is expected that the White House will unveil a smaller list of tariffs on between 800 to 900 Chinese products, raising concerns about ...

Markets Oil Rises As US Inventories Fall On Strong Demand
Author: 0 Oil Rises As US Inventories Fall On Strong Demand

Trump's grousing follows reports suggesting the oil exporters group was already planning to open the spigots, an outcome the International Energy Agency hinted at in its monthly report released earlier today. Venezuela's output has collapsed due to economic crisis and could fall further due to USA sanctions, while Iran is facing a cut in exports after the US quit a nuclear deal with Tehran.

Markets Trump levies $50 billion in tariffs on Chinese goods, and Beijing retaliates
Author: 0 Trump levies $50 billion in tariffs on Chinese goods, and Beijing retaliates

President Donald Trump speaks during a graduation and commissioning ceremony at the U.S. Naval Academy on May 25, 2018, in Annapolis, Maryland. The U.S. investment restrictions on China will follow in the next two weeks. "China is our real trade enemy, & their theft of intellectual property & their refusal to let our companies compete fairly threatens millions of future USA jobs".

Markets Fed Raises Interest Rates, Signals 2 More Hikes This Year
Author: 0 Fed Raises Interest Rates, Signals 2 More Hikes This Year

The S&P 500 extended a slight loss and was also down 0.2 per cent. On Thursday, the European Central Bank chose to end its quantitative easing program, which included buying government bonds, by the end of this year. Solid economic growth and tumbling unemployment are likely to keep the Fed on a steady path toward tightening monetary policy to prevent the USA economy from overheating, analysts said.

Markets Trump announces 25 percent tariff on Chinese technology
Author: 0 Trump announces 25 percent tariff on Chinese technology

The yen strengthened 0.1% to 110.46 against the USA dollar, while benchmark 10-year Treasury yields dropped roughly 3 basis points to 2.9077% as of 8:41 am in NY. The U.S. had earlier announced tariffs on steel and aluminum imports from Canada, Japan, Mexico and Europe. International Monetary Fund chief Christine Lagarde said the move could have a "macroeconomic impact" if the US's other trading partners retaliate.

Markets Theranos CEO Elizabeth Holmes charged with criminal fraud
Author: 0 Theranos CEO Elizabeth Holmes charged with criminal fraud

Before the charges were filed, Theranos announced that Holmes had stepped down as chief executive and that David Taylor, the company's general counsel, has been appointed CEO and general counsel. After scrutiny from health regulators, Theranos retracted two years of blood tests and agreed to reimburse 76,000 Arizonans who used its services. " Sunny Balwani accurately represented Theranos to investors to the best of his ability", Coopersmith said in a statement.

Markets Local concerns after Kansas City police kill 3
Author: 0 Local concerns after Kansas City police kill 3

Officials say Deputy Patrick Rohrer, 35, was killed in the shooting. The investigation is being handled by the Kansas City Police Department. The Kansas City, Kansas police department is heading the investigation. Police say that at about 5 p.m. officers went to the scene where two men were fighting over a golf cart and a gun, both died in the subsequent shooting.

Markets Honey Smacks recall: Kellogg's, FDA say cereal is causing illnesses
Author: 0 Honey Smacks recall: Kellogg's, FDA say cereal is causing illnesses

The Centers for Disease Control says this salmonella outbreak has sickened 73 people in 31 states . No deaths have been reported, the CDC said. The recall pertains to 15.3- and 23-ounce packages of Honey Smacks . Anyone who ate the cereal should throw it out and contact Kellogg's for a refund by visiting their website or calling 1-800-962-1413. Most people infected with salmonella develop diarrhea, fever and abdominal cramps within 12 to 72 hours of being exposed to the bacteria.