Money

Money Trade tariffs will harm the world
Author: 0 Trade tariffs will harm the world

Each side is planning tariffs on a further US$16 billion in goods that would bring the totals to US$50 billion. The tariffs announced Tuesday would be the third wave. Tuesday's announcement was met with backlash from some quarters. US Senate Finance Committee Chairman Orrin Hatch described the move was "reckless".

Money Sky shares rally after Comcast and Fox go head-to-head in bid battle
Author: 0 Sky shares rally after Comcast and Fox go head-to-head in bid battle

Murdoch has a deal to sell Fox's entertainment assets including its Sky stake to Disney , though Comcast is weighing another bid for the Fox portfolio. The companies want Sky in order to amass programming and better compete with technology companies like Amazon and Netflix for viewers. Hong Kong-based hedge fund Case Equity Partners, a Sky investor, said the fact Disney was in a slightly more favourable position for Fox's USA media assets meant Comcast would fight even harder to ...

Money China says will not fire first shot in trade war with US
Author: 0 China says will not fire first shot in trade war with US

I view these tariffs as a negotiating ploy by President Trump to try to force the Chinese to open up their market better for American companies. "We agree with nearly all the complaints the USA has against China, it's just we don't agree with how the United States is handling it", another diplomat said.

Money Iran to continue oil exports despite US disruptive measures: Zanganeh
Author: 0 Iran to continue oil exports despite US disruptive measures: Zanganeh

Iran's oil minister has hit back at Donald Trump today over his demand for more production, branding the president's orders as an insult to the Organisation of the Petroleum Exporting Countries (Opec). Two other sources also said South Korea cancelled July loadings of crude and condensate cargoes from Iran as it was uncertain whether they can receive an exemption from USA sanctions on Iran trade.

Money United States eyes tariffs on $200B more Chinese imports
Author: 0 United States eyes tariffs on $200B more Chinese imports

The US has ramped up its trade war with China, outlining a list of $200bn (£150bn) worth of additional products it plans to place tariffs on. Another source who is familiar with the situation confirmed the Bloomberg report to Reuters . "The president has broken his promise to bring 'maximum pain on China, minimum pain on consumers, ' and American families are the ones being punished", Hun Quach, vice president of global trade for the Retail Industry Leaders Association, said in a statement ...

Money Oil Prices Up on Weak US Crude Inventory
Author: 0 Oil Prices Up on Weak US Crude Inventory

Crude oil futures have surged this year, continuing to recover from decade-lows struck in early 2016. It shows the year-on-year percentage growth in U.S. An executive from China's Dongming Petrochemical Group said he expected Beijing to soon impose the tariff on USA oil imports. China says it will immediately retaliate, and U.S.

Money Employment Situation Heats Up in June
Author: 0 Employment Situation Heats Up in June

Still, Satyam Panday of S&P Global Ratings summarized the view of economists that "Despite simmering trade tensions, hiring in the U.S. continues to stay strong". Economists are forecasting that economic growth accelerated to an annual pace of roughly 4 percent during the April-June quarter, about double the previous quarter's pace.

Money United States invokes new tariffs on China, launching full-fledged trade war
Author: 0 United States invokes new tariffs on China, launching full-fledged trade war

More than 200 S&P 500 reports are due the following two weeks, including from some USA firms that could be caught in the middle of a US trade war with China. MSCI's measure of world equities markets rose almost 0.8 percent to the highest level since June 22 while Asian stocks climbed almost half a percent, led by a rebound in Chinese shares.

Author: 0 Labor Department Announces an Increase in US Jobs By 213,000

Pay increases remain the missing part. Treasury yields and the dollar fell while stock futures rose after the report , which suggested less pressure on the Federal Reserve to step up its pace of interest-rate increases, with the jobless rate already below central bank estimates of levels sustainable in the long run.

Money Iran tells Trump: Stop tweeting, it's driving up oil prices
Author: 0 Iran tells Trump: Stop tweeting, it's driving up oil prices

Brent crude futures LCOc1 were at $77.99 a barrel at 1345 GMT, down 25 cents. USA light crude jumped $1.17 to US$75.11 a barrel, its highest since November 2014. And yet, you are asking them to reduce the prices?! Top exporter Saudi Arabia told OPEC it raised oil output by nearly 500,000 barrels per day last month, OPEC sources said, a sign Riyadh wants to make up for shortages elsewhere and dampen prices.

Money China court bans Micron chip sales in patent case: Taiwan's UMC
Author: 0 China court bans Micron chip sales in patent case: Taiwan's UMC

Washington says the measures are a response to intellectual property theft by China. Fujian Jinhua also issued a statement on Tuesday saying the court had ruled against Micron. Micron still estimates to generate between $8 and $8.4 billion of revenue in the fourth quarter ending in August. It said in June the case could "have a material adverse effect" on its business, requiring changes to its China operation.

Money USA tariffs take effect, China warns of 'counterattack'
Author: 0 USA tariffs take effect, China warns of 'counterattack'

Bloomberg news reports that talks to avoid a trade war have stalled in part over USA demands that China reduce state support for high-tech industries. It is now the "largest trade war in economic history". While China has signalled a willingness to buy more American goods to balance out the deficit, it has refused to trade away what it views as an essential part of its economic future.

Money Boss of China's HNA dies in French accident: firm
Author: 0 Boss of China's HNA dies in French accident: firm

Among other businesses, the conglomerate owns Hainan Airlines, golf courses and up to 25% in Hilton hotel group and Deutsche Bank shares worth around $40 billion. Warut Promboon, managing partner at credit research firm Bondcritic, told the news agency that Wang's death would be a blow because the company "relies on personal connections, especially with Chinese banks and Chinese government officials".

Money Trump says NAFTA must wait for USA congressional polls
Author: 0 Trump says NAFTA must wait for USA congressional polls

Not to mention Trump made headlines globally after his first Canadian visit for the G7 Summit he called Prime Minister Justin Trudeau " very dishonest and weak ". Asked about the high-profile people who declined to attend, Leslie said: "The great news is that we can live in a country where people can make such choices to either or not attend a social function".

Money China markets swing wildly on uncertainty about growth and trade
Author: 0 China markets swing wildly on uncertainty about growth and trade

MSCI's gauge of stocks across the globe gained 0.23 percent. The yuan advanced as much as 0.7% against the dollar shortly after trading began in mainland China on Wednesday. The US Commerce Department on Monday added to the standoff by recommending against the approval of China Mobile's seven-year-old application to enter the US market, citing national security concerns.

Money Oil prices chart new territory on supply-side concerns
Author: 0 Oil prices chart new territory on supply-side concerns

USA light crude jumped $1.17 to US$75.11 a barrel, its highest since November 2014. "The OPEC Monopoly must remember that gas prices are up & they are doing little to help", he wrote. Morgan Stanley raised its Brent crude forecast to US$85 a barrel through to the third quarter of 2019, citing a tighter market than previously anticipated.

Money Trump's tweets hurt oil prices more than help, StanChart says
Author: 0 Trump's tweets hurt oil prices more than help, StanChart says

The U.S. market will not have a settlement price due to the U.S. Independence Day holiday. Iran is looking at ways to keep exporting oil as well as other measures to counter sanctions after the United States told allies to cut all imports of Iranian oil from November.

Money Russian Federation takes action against United States at WTO on metals duties
Author: 0 Russian Federation takes action against United States at WTO on metals duties

The report on the bill draft came days after Axios reported that Trump suggested privately that he wanted to withdraw the U.S. from the WTO. Trump personally ordered the bill be drafted, according to the report. White House spokeswoman Lindsay Walters told Axios that the leaked draft is not "actual legislation that the administration was preparing to rollout".

Money Trade worries extend equities' slide into new quarter
Author: 0 Trade worries extend equities' slide into new quarter

Government-namely the 232 Steel and Aluminum tariffs and the Section 301 tariffs against Chinese imports-the threat of additional tariffs on automobile imports could be detrimental to our company", GM said . Canada's retaliatory tariffs took effect Sunday against American products including Florida orange juice, ketchup and Kentucky bourbon. Which kind of goes against United States president Donald Trump's plans of making "America great again".

Money China will counterpunch United States with $34 billion in tariffs
Author: 0 China will counterpunch United States with $34 billion in tariffs

In meetings in Brussels, Berlin and Beijing , senior Chinese officials, including Vice Premier Liu He and the Chinese government's top diplomat, State Councillor Wang Yi, have proposed an alliance between the two economic powers and offered to open more of the Chinese market in a gesture of goodwill.

Money China says it won’t fire ‘first shot’ in trade standoff with US
Author: 0 China says it won’t fire ‘first shot’ in trade standoff with US

If you want a strategy to be successful, you have to keep it to yourself". Companies in sectors like consumer electronics are already suffering, he added. "Counterstrike is major economies' first reaction to Washington's trade war", it said in its editorial. The move fuelled "speculation the decisions were part of the tit-for-tat trade war", wrote David de Garis, director of economics and markets at National Australia Bank.

Money Giant LeBron James banner in Cleveland comes down
Author: 0 Giant LeBron James banner in Cleveland comes down

Don't feel too bad for Cleveland, though as fans there seem to be supporting the move: Cleveland is the fourth-largest market buying James' new Lakers jersey. It never feels good to blow up a team. The next few seasons will be drastically different for the Cavaliers. So, who should the Cavaliers trade? It's been a sad three or four years for them.

Money Trump delaying NAFTA deal until after midterm elections
Author: 0 Trump delaying NAFTA deal until after midterm elections

Former Mexican Congressman Agustin Barrios Gomez joins Power & Politics to discuss what Mexico's president-elect Andres Manuel Lopez Obrador means for NAFTA negotiations. The Chamber based its state-by-state analysis on data from the U.S. Department of Commerce and government agencies in China, the EU, Mexico, and Canada.

Money Canada retaliates tariffs on U.S. metals, orange juice
Author: 0 Canada retaliates tariffs on U.S. metals, orange juice

Former Mexican Congressman Agustin Barrios Gomez joins Power & Politics to discuss what Mexico's president-elect Andres Manuel Lopez Obrador means for NAFTA negotiations. Canadian Foreign Minister Chrystia Freeland said the tariffs are regrettable. Sanders said that the tactic has only hurt American workers. " We've been very nice to Canada for many years, and they've taken advantage of that ", Sanders said.

Author: 0 Trump's Tweet on Deal With Saudi King Makes Oil Prices Plummet

The White House later walked back the president's comments, saying the king said his country can raise oil production if needed. Trump's plans to impose sanctions on Iran, coupled with low production from Venezuela and blockades on some ports in Libya have continued to tighten global supply, pushing up oil prices.

Money Trump and Mexico’s Lopez Obrador discuss immigration, trade during first call
Author: 0 Trump and Mexico’s Lopez Obrador discuss immigration, trade during first call

Lopez Obrador, meanwhile, said in an interview Monday he would speak with President Trump to try to "reach an understanding" on Trump's proposed border wall and other issues deeply dividing the two countries. Amid widespread frustrations with the status quo, all of the candidates have tried to paint themselves as the agent of real change. But he's been frustratingly vague on how he'll go about it.

Money Walmart's impeach Trump clothing draws social media outrage
Author: 0 Walmart's impeach Trump clothing draws social media outrage

SAN DIEGO- Walmart sparked controversy for selling anti-Trump clothing on its website. The hashtag #BoycottWalmart was among the top-trending topics in the United States on the social media site, racking up more than 50,000 tweets by mid-afternoon.

Author: 0 Trump on trade: European Union 'possibly as bad as China'

Department of Commerce and government agencies in China , the EU, Mexico, and Canada. The Shanghai Composite index sank 1.3 percent to 2,740.26. The Institute for Supply Management survey rose from 58.7 to 60.2, just below the fourteen-year high seen in February, thanks to higher production and increased delivery times from suppliers although new orders and employment edged lower.

Money Moog warns that Trump trade tariffs pose a threat to its business
Author: 0 Moog warns that Trump trade tariffs pose a threat to its business

USA synth company Moog has warned that a 25% tariff on the import of Chinese goods brought in by President Trump could result in layoffs and the end of its instruments being made in the US. It said that auto imports from Europe to the USA had grown at the same pace as demand from the U.S. market, showing that they were filling a gap that domestic output could not, rather than eating into domestic sales as Trump has suggested.

Money HTC to axe about a quarter of its global workforce
Author: 0 HTC to axe about a quarter of its global workforce

According to HTC , the layoffs "will allow more effective and flexible resource management going forward". HTC and Alphabet's Google struck a $1.1 bn deal previous year - a move that some took as a sign that HTC needed extra money to keep going.

Money Trump blasts OPEC, warns European companies against business with Iran
Author: 0 Trump blasts OPEC, warns European companies against business with Iran

Iranian imports will either have to be replaced by purchases from Kuwait or Saudi Arabia or will have to be paid for in alternate currency other than the Dollar. Members of Opec and non-Opec countries have pledged to ease production cuts. Hook's comments follow a turbulent week in the oil market that started last Tuesday when another State Department official called on buyers to stop importing Iranian crude by November 4.

Money Amazon announces Prime Day 2018 with more than one million deals
Author: 0 Amazon announces Prime Day 2018 with more than one million deals

For the past two years running , Amazon broke its single-day sales record on Prime Day - though for the fast-growing retailer that record is usually shattered yet again on Black Friday or Cyber Monday later in the year. It's free for Prime and non-Prime members alike, but tickets will be on a first-come first-served basis. Its members also spend more on the site than non-members.

Money Dell is going public again after five years as a private business
Author: 0 Dell is going public again after five years as a private business

Those shares will end up traded on the NYSE, around five years later after its founder took the company private with Silver Lake Partners in a deal worth roughly $25 billion. The agreement also included EMC's majority stake in VMWare, which now has a market cap of around $50 billion, as well as ownership of Pivotal, SecureWorks, RSA and VirtuStream.

Money Trump Asks Saudi Arabia to Increase Oil Production
Author: 0 Trump Asks Saudi Arabia to Increase Oil Production

Besides the looming US sanctions against Iran , which is fueling the rally in Brent futures, and the outage in Canada, which is supporting WTI crude, both markets are also benefitting from supply issues in Venezuela and Libya. and Canada may not be enough to offset supply shortfalls in Venezuela, likely losses from Iran, and the 1.4 million bpd growth in global demand for oil.

Money USA import tariffs could risk jobs: General Motors
Author: 0 USA import tariffs could risk jobs: General Motors

Global Automakers, which represents auto giants like Honda, Subaru and Toyota , blasted the Trump administration's investigation, saying that the Commerce Department has not spelled out its theory for how imported cars and trucks "are relevant to us national security".

Author: 0 Oil falls as Saudi, Russian output rises

Washington aims to cut Iran's oil sales, First Vice President Es'haq Jahangiri said, adding that this is an impossible measure. The Trump administration is claiming some early success in its quest to cripple Iran with sanctions in order to drag it back to negotiations and change its behavior, even as it softens its demand on USA allies to reduce their Iranian oil imports to zero.

Money LeBron James signs with the Los Angeles Lakers
Author: 0 LeBron James signs with the Los Angeles Lakers

In a short statement, he said on Instagram: "Thank you Northeast Ohio for an incredible four seasons". The fact the Lakers are second-favorite to win the title next season is even more remarkable considering they last became NBA champions in 2010, also the a year ago in which they reached the NBA Finals.

Money Of boomerang effect if Trump imposes car levies
Author: 0 Of boomerang effect if Trump imposes car levies

EU Trade Commissioner Cecilia Malmstrom said that while the EU does have higher tariffs on cars than the US - around 10 percent versus 2 percent - the tariffs only apply to a fraction of the vehicle market, around 15 percent. The impact of retaliatory measures by Washington's trading partners could total around $294 billion - or around 19 percent of total USA exports in 2017, the European Union estimates.

Author: 0 Iran vows to thwart USA efforts to block its oil exports

Shortly after, the White House backtracked on Trump's statement, saying that Riyadh is ready for measures aimed at stabilizing the oil market. "Anyone trying to take away Iran's oil market (share) would be committing great treachery against Iran and will one day pay for it", Jahangiri warned in an open reference to Saudi Arabia.

Money Overboard Missing Cruise Employee Found 21 Miles North Of Cuba
Author: 0 Overboard Missing Cruise Employee Found 21 Miles North Of Cuba

Christine Duffy, president of Carnival Cruise Line, told the Herald the rescue was "nothing short of miraculous". "Kudos to the Carnival Glory team". Passengers aboard the Norwegian Getaway say they watched the search efforts. Officials dispatched planes and a cutter that searched more than 1,630 square miles.

Money Tesla Builds 5000 Model 3s In The Final Week Of June
Author: 0 Tesla Builds 5000 Model 3s In The Final Week Of June

Tesla has been trying to hit a 5,000 per week production target of its Model 3 sedans for months after facing production obstacles. "The self-imposed target was introduced about 6 months ago after Tesla missed its original Model 3 production goal in December 2017".

Money Kuwait to raise oil output by 85000 bpd -minister
Author: 0 Kuwait to raise oil output by 85000 bpd -minister

A week ago OPEC and its allies including Russian Federation agreed to boost supplies, easing curbs in place since the start of 2017. Russian Federation could also add as much as 400,000 barrels a day, analysts say. They also spoke about the efforts of producing countries to compensate for any potential shortage of supply, the statement said. Reuters reported earlier this week that Iran has been infuriated by a recent increase by the Saudis to 10.7 million barrels a day, and blamed USA ...

Money Canada to aid steel, aluminum industries hit by USA tariffs
Author: 0 Canada to aid steel, aluminum industries hit by USA tariffs

They will be announcing details about Canada's response to the newly imposed United States steel and aluminum tariffs. Some items will be subject to taxes of 10 or 25 percent. Senior officials from Canada are lobbying the Big Three U.S. auto makers to stave off the punitive measures and say they are considering all options, including providing financial aid.

Money Today Is the Day Every Last Toys R Us Store Closes
Author: 0 Today Is the Day Every Last Toys R Us Store Closes

The origin of the photo is unclear, but may have been staged and taken by a store employee. Forbes, who started with the company in 1987, said she would continue to work until her store in Phoenix, Arizona, closes for good this week. The nationwide shutdown of Toys "R" Us has left a $11 billion market void. "I was surrounded by children". It's a shame Toys R Us' doors are closed and the blame can be pointed at a lot of things including mismanaging finances to a drastic degree, but the fact ...

Money Boeing Reveals Hypersonic Plane That'll Get You To Europe In 5 Hours
Author: 0 Boeing Reveals Hypersonic Plane That'll Get You To Europe In 5 Hours

It's the latest development of a vision that the company's CEO Dennis Muilenburg first shared with the world back in February. That translates to about 3,900 miles per hour or a two-hour trip across the Atlantic. At an aviation conference in Atlanta on Tuesday, the airplane maker unveiled a concept for a hypersonic passenger jet that could fly between NY and London before you could finish watching a film on your laptop.

Money Coca-Cola European Partners
Author: 0 Coca-Cola European Partners "pauses" United Kingdom production amid Carbon dioxide shortages

Quality Pork Limited in Brechin, Angus, will carry out its last slaughter at 4pm due to a lack of the gas used to stun animals before they are killed. Quality Pork, a partnership between United Kingdom meat processor Tulip and the Scottish Pig Producers (SPP) co-operative, said it was to suspend output at its Brechin slaughterhouse in Angus - Scotland's largest - at 4pm on Tuesday.