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Author: 0 "Build Them Here": Trump Threatens 20% Duty On Cars Imported From EU

The spat is part of a wider tussle over global trade. China, India and Turkey have already hit back with their own tariffs on USA imports. "Needless to say, if the US removes its tariffs, our measures will also be removed". The trade war risks significantly raising prices for consumers. Mr Trump ran for the presidency on a vow to topple seven decades of American policy that had favoured ever-freer trade among nations.

Money Oil falls as OPEC nears deal to raise production
Author: 0 Oil falls as OPEC nears deal to raise production

The real increase will be smaller because several countries that recently underproduced oil will struggle to return to full quotas while other producers will not be allowed to fill the gap, OPEC sources have said. Oil prices have spiked by as much as 20% this year, in part because OPEC has produced even less than was foreseen under the 2016 agreement, which was supposed to reduce supply by 1.8 million barrels per day.

Money European Union slaps revenge tariffs on USA as trade war erupts
Author: 0 European Union slaps revenge tariffs on USA as trade war erupts

The bloc has also filed a formal complaint at the World Trade Organization. John Murphy, a senior vice president at the U.S. Chamber of Commerce, estimates that $75 billion in U.S. White House National Trade Council Director Peter Navarro on the Trump administration's proposed Chinese investment restrictions. The EU countermeasures cover a total of around 200 categories of USA products also including various types of corn, rice, orange juice, cigarettes, cigars, t-shirts, cosmetics, ...

Money Global stocks tumble after new Trump tariff threat
Author: 0 Global stocks tumble after new Trump tariff threat

Beijing retaliated with a 25 percent tariff on US soybeans and other goods starting July 6, sending soybean futures Sc1 to a two-year low and throwing into doubt forecasts for USA soybean exports to rise 11 percent this marketing year. The producer cartel of the Organisation of the Petroleum Exporting Countries (OPEC), which is de facto led by Saudi Arabia, and some allies including Russian Federation have been restricting output since the start of 2017.

Author: 0 High oil prices hurting fiscal balance, says Pradhan

Mr. Pradhan went on to say that the prices of oil and gas had become subject to the "vagaries of geopolitics" and urged the OPEC countries to commit towards ensuring more sustainable prices. Brent reached a 3-1/2-year high above $80 a barrel last month but has fallen steadily in recent weeks as Saudi Arabia , de facto leader of Opec, has signalled it intends to raise production to stabilise prices.

Money South Korea's Bithumb loses $32 million in digital money heist, bitcoin falls
Author: 0 South Korea's Bithumb loses $32 million in digital money heist, bitcoin falls

However, Bithumb reportedly moved a significant amount of Ether tokens to its offline wallet. Following the attack, Bithumb has stored all assets in "safe cold wallets", according to Reuters . It also said that it would fully compensate all of its customers affected by the hack. "All deposit and withdrawal service will be stopped to make sure the security".

Money Rand falls to 7-month low as US-China trade war escalates
Author: 0 Rand falls to 7-month low as US-China trade war escalates

According to Apple's unpaid press office, the New York Times , Cook travelled to the White House last month to warn Trump of the potentially adverse effects of Trump's trade policies on Apple in China . " Trump is playing a game of chicken, who will blink first", said Ivan Feinseth, chief investment officer at Tigress Financial Partners. U.S. President Donald Trump again slammed Canada over a trade dispute and claimed that Canadians are buying common products in the U.S.

Money Merkel accepts CSU deadline for European Union migration deal
Author: 0 Merkel accepts CSU deadline for European Union migration deal

Interior Minister Horst Seehofer, who heads Bavaria's Christian Social Union party, insists the chancellor reach a deal by the end of June with European Union governments facilitating the return of migrants to those countries where they were first registered.

Money Trump Asks For $200 Billion More In Tariffs To Impose On China
Author: 0 Trump Asks For $200 Billion More In Tariffs To Impose On China

But, he said, "the United States will no longer be taken advantage of on trade by China and other countries in the world". House Freedom Caucus founder Jim Jordan (R-Ohio) told Bloomberg that he thinks " most Americans are willing to give this president some latitude to get the best kind of trade deal that benefits the United States", adding, "I have concerns about tariffs in general".

Money MERKEL’S MESS: Germany’s Leadership Hangs in the Balance Over Refugee Policy
Author: 0 MERKEL’S MESS: Germany’s Leadership Hangs in the Balance Over Refugee Policy

Additionally, it was the Trump administration that chose to separate children from their families as part of its "zero tolerance" immigration policy that criminally prosecutes parents if they illegally cross the U.S. But the chancellor contradicted her ally on steps that should be taken in Germany, saying that " there will be no automatism " in rejecting asylum seekers following European Union negotiations.

Money Trump threatens to impose more trade tariffs on China
Author: 0 Trump threatens to impose more trade tariffs on China

The new United States tariff will be imposed if China goes ahead and implements its new tariff on American goods, announced last week, the White House said, adding that trade between the two countries "must be much more equitable". "If the U.S. becomes irrational and issues this list, China will have no choice but to adopt strong countermeasures of the same amount and quality", the ministry statement said.

Money China to retaliate after U.S. imposes tariffs on $50 billion in imports
Author: 0 China to retaliate after U.S. imposes tariffs on $50 billion in imports

China and U.S. moves to impose unilateral sanctions undermine and destabalise the WTO, he says. Indeed, the numbers appear identical. With Congressional elections in November, and the Republican majorities in the House of Representatives and Senate potentially at risk, Mr Trump has to walk a fine line between bolstering his get-tough/can-do image and provoking escalated tit-for-tat tariffs that could damage the United States economy or alienate free-traders in his own party.

Money Google invests $550m in JD.com
Author: 0 Google invests $550m in JD.com

For its part, Google will received more than 27 million shares in JD.com, CNBC reports. - Google said Monday that it will invest $550 million in Alibaba's main rival JD.com as the US tech giant seeks to expand in fast-growing Asian e-commerce markets.

Money German authorities arrest Audi CEO Rupert Stadler in ‘dieselgate’ investigation
Author: 0 German authorities arrest Audi CEO Rupert Stadler in ‘dieselgate’ investigation

This news comes from Automotive News Europe , which reported that the executive is being held in custody because investigators feared he might be seeking to suppress evidence in relation to the probe. Audi, who has been caught up in the emissions scandal that afflicted Volkswagen, had no immediate comment. Audi's supervisory board has yet to sign off on the nomination, Sueddeutsche said.

Money Audi CEO Rupert Stadler taken into custody over Dieselgate
Author: 0 Audi CEO Rupert Stadler taken into custody over Dieselgate

A judge ordered that he be remanded into custody over fears he would attempt to suppress evidence. Volkswagen first admitted in 2015 of using software to cheat on USA emissions tests. News of the arrest comes as VW's new group CEO Herbert Diess is trying to introduce a new leadership structure - which includes Stadler - and speed up the group's shift towards electric vehicles in the wake of the biggest motoring scandal in modern history.

Author: 0 Audi CEO detained in diesel emissions case

Munich prosecutors, who have been investigating Audi's role in the 2015 scandal, confirmed they arrested Rupert Stadler in the Bavarian capital. Last week, prosecutors raided Stadler's residence in Munich as part of the investigation.

Money United States targets Chinese tech with a 25 percent tariff
Author: 0 United States targets Chinese tech with a 25 percent tariff

Mr Trump said the tariffs were "essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs". "China has, for example, always been engaging in several unfair practices related to the acquisition of American intellectual property and technology".

Money European Central Bank to weigh end to stimulus program
Author: 0 European Central Bank to weigh end to stimulus program

The Euro slipped against other currency majors, tumbling by it's biggest amount since 2016 versus the Dollar, with a 1.9% fall. The Australian sharemarket staged a relief-rally along with European stocks while the Australian dollar tumbled after the European Central Bank calmed eurozone rate rise fears last night.

Money Iran, other dissenters complicate OPEC oil output boost
Author: 0 Iran, other dissenters complicate OPEC oil output boost

OPEC and its Russia-led non-OPEC allies are up for a very heated meeting next week, but it looks like the leaders of the two groups-Saudi Arabia and Russia-believe that they will persuade dissenters to agree to some sort of a production boost.

Money Manipulation of Tether Pushed up Bitcoin’s Price
Author: 0 Manipulation of Tether Pushed up Bitcoin’s Price

Tether , another digital currency tied to the United States dollar, was used to artificially inflate bitcoin prices , according a study released Wednesday by the University of Texas. The 66-page paper has no proof against Bitfinex , which is registered in the Caribbean with offices in Asia. Long-time tether critic Bitfinexed has been alleging as much for months, and successfully persuaded a portion of the cryptocurrency community that tether-led market manipulation was rampant.

Money China vows fast response to United States tariffs
Author: 0 China vows fast response to United States tariffs

Beijing responded to the move by saying that it intends to impose similar tariffs on U.S. imports, raising the specter of a full-blown trade war between the two economic giants. A recent study by Ohio State University found that a farmer in Ohio could lose more than half of his annual net income if China imposes a 25 percent tariff on US soybeans and corn.

Money One officer killed, another critically injured at Kansas City courthouse
Author: 0 One officer killed, another critically injured at Kansas City courthouse

Lionel Colón says he doesn't know if the woman was armed with the sword when she was killed. The suspect was also shot during the confrontation in a gated area near the Wyandotte County Courthouse in Kansas City, Kansas. Police in Kansas City are facing tough questions after shooting and killing three people in less than an hour. The deputies were shot after a suspect overpowered at least one of them and perhaps took a weapon, said Major Kelli Bailiff of the Wyandotte Sheriff's ...

Money Elizabeth Holmes, Theranos founder, charged
Author: 0 Elizabeth Holmes, Theranos founder, charged

Theranos announced Friday that Holmes was resigning as CEO. Although Theranos claimed its "miniLab" blood analyzer could perform a full range of tests, Holmes and Balwani knew their analyzer "had accuracy and reliability problems, performed a limited number of tests, was slower than some competing devices, and could not compete with larger, conventional machines in ...

Money Trump announces 25% tariff on Chinese imports
Author: 0 Trump announces 25% tariff on Chinese imports

Officials would not say whether Pompeo explicitly informed the Chinese that the tariffs would be coming imminently. "China's government is aggressively working to undermine America's high-tech industries and our economic leadership through unfair trade practices and industrial policies".

Author: 0 McDonald's to phase out plastic straws from September

McDonald's announced Friday that it would start testing an alternative to plastic straws in some of its US restaurants, and would completely phase out the products in some of its European locations. The global fast food chain has 1,361 restaurants in the UK. According to McDonald's, the new straws will use paper from certified sustainable sources.

Money Honey Smacks recalled after 75 people report falling ill
Author: 0 Honey Smacks recalled after 75 people report falling ill

The Battle Creek-based cereal giant said in a news release it is voluntarily recalling 15.3 ounce and 23 ounce packages of the cereal, following an investigation with a "third-party manufacturer who produces Honey Smacks ". The illness usually lasts four to seven days. The 23.0 ounce box has a UPC code of 38000 14810. If you have any of the cereal, even if some has been eaten without illness, throw the rest of it away and return it for a refund.

Money No one earning minimum wage can afford a modest apartment says report
Author: 0 No one earning minimum wage can afford a modest apartment says report

What do you get when you combine minimum wage with increasing apartment rents ? The report found that a Vermonter on Supplemental Social Security Income, for example, could only afford to pay $241 toward rent a month. Among those jobs: personal care aides and food preparation jobs. "Building that political will take a combination of increased civic engagement-to ensure that low-income renters vote at similar rates as higher income homeowners - and expanded coalitions that include the health, ...

Money Chinese, US senior officials agree to promote ties
Author: 0 Chinese, US senior officials agree to promote ties

At the same event, Cohn said the U.S. needs to "enforce the rule of law" on China's perceived theft of USA intellectual property. The U.S. has already imposed tariffs of 25 percent on steel and 10 percent on aluminum from a wide range of nations, including China.

Money Wins O'Hare Airport train contract
Author: 0 Wins O'Hare Airport train contract

This undated artist's rendering provided by The Boring Company , shows part of a proposed high-speed underground transportation system that will transport passengers from downtown Chicago to O'Hare International Airport. And Boring's technology is good enough that officials in Los Angeles and Baltimore recently have signed off on initial projects that could lead to much bigger efforts, such as a vacuum tube "hyperloop" from Baltimore to Washington, D.C., and eventually NY.

Money Two women get kicked out of Uber after kiss
Author: 0 Two women get kicked out of Uber after kiss

Video footage shows the unidentified driver opening the door to the backseat as Iovine asks him why they're being thrown out. Iovine says the two are aware of Uber's policy against riders having sex in the backseat, but that the kiss was far from objectionable.

Money Germany orders Daimler to recall 238,000 diesel vehicles
Author: 0 Germany orders Daimler to recall 238,000 diesel vehicles

However, the software defeat devices, which can allegedly reduce the level of emissions under official test conditions, are believed to be fitted to nearly 774,000 vehicles scattered throughout Europe. Among the features brought into question by the KBA is the software used to regulate the amount of AdBlue solution injected into the SCR filter on the models.

Money Trump was outfoxed in Singapore
Author: 0 Trump was outfoxed in Singapore

President Trump and North Korean leader Kim Jong Un signed a statement Tuesday promoting "mutual confidence building" to "promote the denuclearization of the Korean Peninsula". "I showed it because I really want him to do something", Trump said. The narrator references some of Trump's main arguments to Kim, namely that eliminating his nuclear stockpile would allow his country to benefit economically and re-enter the world community.

Money GREAT AGAIN: Fed RAISES 2018 Economic Outlook, HIKES Interest Rates
Author: 0 GREAT AGAIN: Fed RAISES 2018 Economic Outlook, HIKES Interest Rates

Other changes included referring to "further gradual increases" instead of "adjustments". The statement contained many changes compared to the previous one. Powell has repeatedly played down the dot plot as a guide to future interest rates, though investors continue to focus on it. The Fed now sees gross domestic product growing 2.8% this year , slightly higher than previously forecast, and dipping to 2.4% next year , unchanged from policymakers' March projections.

Money Federal Reserve raises interest rates
Author: 0 Federal Reserve raises interest rates

The Fed's latest projections show unemployment falling to 3.6 percent in 2018. The most immediately affected will be credit-card interest rates, which are subject to near-instantaneous revision to track the federal funds rate . They expect the core inflation rate to rise to roughly 2% this year . Not since 1969 has the jobless rate been lower. The Fed aims to achieve its mandates of maximizing employment and stabilizing prices by lowering rates to spur growth during times of economic ...

Author: 0 Trump, Iran trade sharp words over oil prices ahead of OPEC meeting

USA crude stocks fell more than expected last week, while gasoline and distillate inventories dropped , the Energy Information Administration said on Wednesday. Moscow's pledge in the deal is to shave off 300,000 bpd from the October 2016 level, which was the country's highest monthly production in nearly 30 years-11.247 million bpd.

Money Iran warns North Korea of the U.S
Author: 0 Iran warns North Korea of the U.S

Pentagon leaders have largely stayed on the sidelines in the run up to the Singapore talks , but Defense Secretary James N. Mattis said Monday there would be no consideration given to a partial drawdown or full withdrawal of the 28,000 US troops stationed on the Korean peninsula .

Money Judge approves AT&T's merger with Time Warner | AT&T
Author: 0 Judge approves AT&T's merger with Time Warner | AT&T

The deal is set to unite AT&T's significant wireless, satellite television and internet business with Time Warner's media properties, which include HBO and CNN. "We strongly urge the Justice Department to appeal this decision all the way to the Supreme Court if necessary". Their concerns only grew heightened after Monday, with the official end of federal net neutrality rules that required broadband providers, including AT&T, to treat all web traffic equally - and not prioritise their TV, ...

Money Tesla cuts 9 percent of workforce in search for profit
Author: 0 Tesla cuts 9 percent of workforce in search for profit

Tesla Inc is cutting about 9 percent of jobs across the company, billionaire Chief Executive Elon Musk said on Tuesday, as it seeks to reduce costs without endangering the critical ramp up of production of its Model 3 sedan. The cuts come as the company aims to shrink costs and become profitable, Musk said. Tesla in May announced a pending restructuring. That is a valid and fair criticism of Tesla's history to date.

Money WH adviser Navarro apologizes for 'special place in hell' slam at Trudeau
Author: 0 WH adviser Navarro apologizes for 'special place in hell' slam at Trudeau

They take effect July 1. The vehicle tariffs could apply to all countries, including Nafta partners Mexico and Canada, the two biggest exporters of autos to the U.S. "It would potentially bring down the entire economy and push it into a recession", he said . The ire directed at the prime minister by Trump and his advisors had confused some trade observers since the comments seemed to be just a reiteration of what the prime minister had said previously and not a personal insult.

Money Jaguar Land Rover moves Discovery production to Slovakia
Author: 0 Jaguar Land Rover moves Discovery production to Slovakia

Jaguar Land Rover has said all new models will be electrified from 2020, though a spokesman wouldn't confirm whether the Range Rover models to be produced at Solihull will be made in all-electric versions. In 2014 the automaker started production outside the United Kingdom for the first time when versions of the Rover Range Rover Evoque started rolling out of a plant in China.

Money Dominos Is Filling In Potholes Across America To Save Your Pizza
Author: 0 Dominos Is Filling In Potholes Across America To Save Your Pizza

Russell Weiner, president of Domino's U.S. explains, stated in a press release. "Have you ever hit a pothole and instantly cringed?" "Potholes, cracks, and bumps in the road can cause irreversible damage to your pizza during the drive home from Domino's", the Paving for Pizza website reads.

Money China urges 'full denuclearization' as Kim, Trump meet
Author: 0 China urges 'full denuclearization' as Kim, Trump meet

South Korean President Moon Jae-in spoke by phone with Trump for 20 minutes late on Tuesday, but an official readout of the call made no mention of military exercises. Asked what happens next, Trump said: "I think he's gone back to get this done". The general statement on "immediate repatriation" could refer to remains North Korea already has in storage but were never returned after joint recovery efforts were suspended in 2005 amid the political impasse over North Korean provocations and ...

Money Donald Trump's marathon press conference after North Korea summit
Author: 0 Donald Trump's marathon press conference after North Korea summit

President Donald Trump in Singapore before the first-ever DPRK-U.S. summit, on June 12, 2018. Before Trump became president, Rodman appeared twice on his "Celebrity Apprentice" show and praised the billionaire real estate developer on Twitter during the 2016 presidential campaign.

Money Amazon brings Prime benefit to Whole Foods Market in ten more states
Author: 0 Amazon brings Prime benefit to Whole Foods Market in ten more states

There are now four Whole Foods stores in the state, including one on Maui and three on Oahu. In a statement Monday morning, Amazon said that starting June 13, Prime members will receive an additional 10 percent off sale items at Whole Foods stores, plus discounts on other select products such as Annie's Natural Macaroni & Cheese, yellowfin tuna steaks and organic nectarines and peaches.

Money Tesla Autopilot software will 'enable full self-driving features'
Author: 0 Tesla Autopilot software will 'enable full self-driving features'

The latter then stuffed the shells with lithium-ion battery cells and electric motors, eventually making the first all-electric vehicle that could travel over 200 miles on a single charge. Musk said that issue would be addressed in the most current Autopilot update and "fully fixed" in the August update. Musk has previously said the software will "never be perfect" and is not created to replace human control of a vehicle.

Money U.S. officially repeals net neutrality rules
Author: 0 U.S. officially repeals net neutrality rules

It was put in place by the Obama Administration but President Trump made a decision to scrap the rule in December. The controversial repeal of Obama-era net neutrality protections is officially set to take effect on Monday, despite ongoing efforts from members of Congress, state officials, tech companies and advocacy groups to save the rules.

Author: 0 Elon Musk Delivers First Flamethrowers

According to CNBC , Musk's Boring Company "sold 20,000 units - or $10 million worth - in just five days", despite the fact that the "flamethrowers" have been described as closer to blowtorches, and another party is also reportedly in the works.