Markets

Author: 0 Automakers: New Tariffs Could Force Job Cuts

Mazda and Toyota this week have released statements against the proposed 20 to 25 percent tariffs, saying they will drive up the price of cars made in the U.S. GM also warned that the tariffs would hurt investment, undermining the U.S. role in the global industry. General Motors warned on Friday that expansive United States tariffs on imported vehicles being considered by the Trump administration could lead to "a smaller GM" and risks isolating U.S.

Markets Over 400 flights cancelled after Bali volcano eruption
Author: 0 Over 400 flights cancelled after Bali volcano eruption

Bali's main worldwide gateway will be closed until at least Friday evening, according to officials who spoke to AFP news agency. The Mount Agung volcano has shot ash 2,000 meters into the atmosphere, disrupting the travel plans of thousands as several airlines canceled flights from the Indonesian tourist island.

Markets Instagram Lite is a 573KB Android Application Aimed at Developing Countries
Author: 0 Instagram Lite is a 573KB Android Application Aimed at Developing Countries

The Instagram Lite app measures just 573KB, which is only 1/55th the size of the full Instagram app for Android . The app, after all, is carefully made a decision to pull in even more users to add to its billion-strong roster, especially users in markets with slower Internet speeds and smaller smartphone storage space.

Markets Rupee at a record low, breaches 69 mark
Author: 0 Rupee at a record low, breaches 69 mark

ET NOW's Poonam explains what what has caused this slump. "The fall in the rupee was led by higher oil prices and rising trade war tensions between USA and China", HDFC Bank analysts wrote in a note. A senior Indian finance ministry official, who declined to be identified as he is not authorised to speak to media, said the government and the central bank were closely monitoring and there was no need to panic.

Markets United States wants allies to cease oil imports from Iran by November 4
Author: 0 United States wants allies to cease oil imports from Iran by November 4

Iranians took to the streets Monday following the collapse of the country's currency amid the renewal of USA sanctions over the regime's nuclear program. rules. Minister of External Affairs Sushma Swaraj and Minister of Defence Nirmala Sitharaman will be in the U.S. for talks with their American counterparts, Secretary of State Mike Pompeo and Defence Secretary James Mattis .

Markets Trump Takes On Harley-Davidson
Author: 0 Trump Takes On Harley-Davidson

The company said it expects the tariffs will result in an increased cost of about $2,200 per average motorcycle exported from the U.S.to Europe. The Twitter tirade irked investors, causing shares of the motorcycle maker to move lower again during Tuesday's session - after falling as much as 7% on Monday.

Markets US stocks slide on escalating US-China trade tensions
Author: 0 US stocks slide on escalating US-China trade tensions

China is crying foul after a report suggested the Trump administration is planning to impose restrictions against firms with at least 25 percent Chinese ownership from buying technology companies. According to the Rhodium Group, a research firm, Chinese investment in the United States fell 35 per cent in 2017 from the record US$45.6 billion in 2016, and slowed to a trickle, just US$1.4 billion in the first quarter of this year.

Markets European Union leaders to hold mini-migration summit as crisis continues
Author: 0 European Union leaders to hold mini-migration summit as crisis continues

Pope Francis told Reuters in an interview that populists were "creating psychosis" on the issue of immigration, even as ageing societies like Europe faced "a great demographic winter" and needed more immigrants. But he has also had an uncompromising approach to migration, toughening checks at France's Riviera border with Italy and refusing to accept a ship filled with rescued migrants after Italy's new leaders turned it away earlier this month.

Markets Brussels to Trump: We’re not backing down on trade
Author: 0 Brussels to Trump: We’re not backing down on trade

Harley-Davidson Inc. sold nearly 40,000 motorcycles in the European Union previous year, its second-largest market after the United States, according to the company. Trump has imposed tariffs on aluminum and steel imported from Europe and elsewhere. "We want to take money and put it back in the pocket of middle-class people", he said at the time.

Author: 0 USA to limit Chinese investment in American tech firms

He thought markets were overreacting and I hope he is right because my SWTZ fund got to $2.62 cents yesterday - 1 cent off its all-time high - but it slipped to $2.59 before the close on all of this Trump trade tensions! Following reports from various media outlets on Monday that the US will further crack down on China's technology Treasury Secretary Steven Mnuchin took to Twitter to clarify what the administration's moves will be.

Markets Harley-Davidson Will Shift Manufacturing Overseas To Avoid Tariffs
Author: 0 Harley-Davidson Will Shift Manufacturing Overseas To Avoid Tariffs

The company said that it would not raise the cost of its bikes, but that the increased tariffs would cost it between $30 million and $45 million. Harley said ramping up production at its overseas global plants will require incremental investments and could take at least nine to 18 months.

Markets Turkey's Erdogan at 55.08 pct with 70.5 pct of presidential votes counted
Author: 0 Turkey's Erdogan at 55.08 pct with 70.5 pct of presidential votes counted

Muharrem Ince, the main opposition's presidential candidate, stood at about 30 percent nationwide, television channels said. He has called the charges trumped-up and politically motivated. Insulting the president is a crime punishable by up to four years in prison. Around 60 million Turks are eligible to take part. Investors would welcome the prospect of a stable working relationship between the president and the new Parliament, although they also have concerns about Erdogan's recent ...

Markets Harley-Davidson moving some production from US because of EU tariffs
Author: 0 Harley-Davidson moving some production from US because of EU tariffs

Harley-Davidson said that shifting targeted production from the U.S. to worldwide facilities could take up to 18 months to be completed. Harley said it plans to shift production of motorcycles for European Union destinations from the United States to its global facilities to avoid the tariff burden.

Markets Harley, stung by tariffs, shifts some production overseas
Author: 0 Harley, stung by tariffs, shifts some production overseas

Nine analysts have provided estimates for Harley-Davidson's earnings. The firm is expected to announce its next quarterly earnings report on Tuesday, July 17th. The Manufacturers Life Insurance Company now owns 181,868 shares of the company's stock worth $9,254,000 after purchasing an additional 4,026 shares in the last quarter.

Markets Merkel calls Erdoğan to congratulate him on election win
Author: 0 Merkel calls Erdoğan to congratulate him on election win

An extremely high voter turnout was recorded with almost 87 percent of the electorate casting ballots. Even though the party splintered past year with the formation of the rival Iyi Party, and despite the unpopularity of leader Devlet Bahceli, the party managed to increase its number of seats from the previous election, defying poll numbers.

Markets Draghi: Deal on Greece improves medium-term sustainability of Greek debt
Author: 0 Draghi: Deal on Greece improves medium-term sustainability of Greek debt

Athens faces bond repayments of around 7 percent of its output next year, the first after its third bailout ends in August. 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.

Markets Amazon Introduces Monthly Prime Membership in India
Author: 0 Amazon Introduces Monthly Prime Membership in India

Amazon Prime Video is now available on BT TV set-top boxes, the first major UK TV platform to provide access. In April, the company announced that it was raising the price of its annual Amazon Prime membership from $99 to $119. You can now opt for a monthly subscription for just Rs. 129. If you do not want to be prime customer, you can cancel it manually. I recommend getting the Amazon app and creating a Prime Day wish list.

Markets Marijuana to be legal in Canada from October 17
Author: 0 Marijuana to be legal in Canada from October 17

The Canadian government largely followed the advice of a marijuana task force headed by former Liberal Health Minister Anne McLellan as well as the advice of former Toronto Police Chief Bill Blair, who is the parliamentary secretary to the justice minister.

Markets Donald Trump threatens 20% tariff on European Union cars, targeting Germany
Author: 0 Donald Trump threatens 20% tariff on European Union cars, targeting Germany

The Trump administration is investigating whether imported autos pose a threat to USA national security. The European Autos Stocks Index fell sharply after Trump's tweet and closed down 0.5 percent. BMW's plant in Spartanburg, South Carolina, is its largest in the world and exports almost 3 out of 4 SUVs it makes. Speaking after Trump again raised the prospect of new auto tariffs, Secretary of State Mike Pompeo insisted: "President Trump's agenda is the most pro-business, most ...

Markets Tesla to close a dozen solar facilities
Author: 0 Tesla to close a dozen solar facilities

Tesla is now wholly refuting the claims made by an ex-employee and self-proclaimed whistleblower who previously leaked information to the press. So in the brief time in which Tripp has been on Musk's radar as a potential threat, he's already facing a lawsuit from a multi-billion dollar company and accusations of being a potential mass-shooter.

Markets Oil falls as Opec nears deal to raise output
Author: 0 Oil falls as Opec nears deal to raise output

Ahead of Friday's meeting, OPEC's largest producer, Saudi Arabia , was seen to be open to higher production but Iran had been hesitant. The Organization of the Petroleum Exporting Countries and other top crude producers, meeting in Vienna , agreed to raise output from July by about 1 million barrels per day (bpd) after its de facto leader Saudi Arabia persuaded Iran to cooperate in efforts to reduce the price of crude and avoid a supply shortage.