Markets

Markets Major cryptocurrency exchange Bithumb halts trading after more than $31 million hack
Author: 0 Major cryptocurrency exchange Bithumb halts trading after more than $31 million hack

One of the largest cryptocurrency exchanges suspended operations Wednesday after announcing that hackers stole more than $31 million worth of virtual currency, pushing down the value of some top names, including bitcoin . The Coinrail hack coincided with a significant dip in the prices of cryptocurrencies, with Bitcoin losing $1,000 in a matter of hours. "It can weather the storm on these negative reports ".

Markets Microsoft employees demand cancellation of contracts with ICE
Author: 0 Microsoft employees demand cancellation of contracts with ICE

Although Microsoft said it was "dismayed" by the forcible separations, the company has yet to provide details about its contract with U.S. immigration authorities, like how the facial-recognition tech is exactly being used. As furore over the immigration policy mounted, commentators argued that Microsoft was complicit in the actions of the United States administration.

Markets China’s proposed tariffs on US energy worry shale producers
Author: 0 China’s proposed tariffs on US energy worry shale producers

Trump said his move followed China's decision to raise tariffs on $ 50 billion in USA goods, which came after the White House announced similar tariffs on Chinese goods on Friday. "I have to point out that USA remarks confused right with wrong and made irresponsible accusations against China to cover up its unilateral and protectionist moves", Chinese Foreign Ministry spokesman Geng Shuang said when asked to comment on Pompeo's statement .

Author: 0 Trump says Canadians are smuggling shoes out of the US

One of Trump's major concerns was Canadians , who he claims are traveling to the USA to avoid tariffs while shopping . They make them sound old or look old. Trump also blasted Canada's supply management system for dairy and poultry, calling it a "barrier". Alan Knuckman, chief market strategist at Agora Financial, offers insight into the selling from the trading floor in Chicago, and whether we'll see a bounceback by the close.

Markets McDonald's to rollout paper straws in new trials globally
Author: 0 McDonald's to rollout paper straws in new trials globally

Following the announcement that McDonald's will start phasing out plastic straws from some of its outlets, consumer watchdog, SumOfUs, urges the chain to "go further" and ban plastic straws in all their outlets worldwide, to tackle the growing crisis of plastic pollution .

Author: 0 Donald Trump ratchets up China trade dispute with new tariffs

Even with tariffs on an additional $200 billion in Chinese goods , the impact on both China's and the US economy is set to be small, most economists say. "Just about every major information and communication technology product was exempted", one US industry told Reuters . Retail groups also weighed in.

Markets Elon Musk warns Tesla staff about a possible saboteur in their ranks
Author: 0 Elon Musk warns Tesla staff about a possible saboteur in their ranks

While noting most cases of corporate espionage are committed by individuals for personal reasons, he listed potential perpetrators who were motivated to see Tesla fail including Wall Street short sellers, oil and gas companies, and competing vehicle companies ("If they're willing to cheat so much about emissions, maybe they're willing to cheat in other ways?").

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

In April, the Trump administration outlined around 1,300 products worth $ 50 billion that would be hit with proposed tariffs. Trump is moving forward with the trade measures after months of sometimes fraught shuttle diplomacy in which Chinese offers to purchase more American goods failed to assuage his grievances over a widening trade imbalance and China's aggressive industrial development policies.

Markets Bakhshi is ICICI Bank COO; Kochhar stays, goes on leave
Author: 0 Bakhshi is ICICI Bank COO; Kochhar stays, goes on leave

Bakhshi had served as Deputy Managing Director of the private sector bank prior to moving to ICICI Prudential Life Insurance in August 2010. The decision comes after several reports emerged, indicating that Kochhar may be removed and Bakhshi would be appointed as the interim CEO in her place.

Markets Trump calls for US$200B more tariffs on China; US futures drop
Author: 0 Trump calls for US$200B more tariffs on China; US futures drop

China slapped a 25 percent tariff on 545 American imports including agricultural products, seafood, cars and whiskey. U.S. President Donald Trump addresses a meeting of the National Space Council in the East Room of the White House in Washington , U.S., June 18, 2018.

Markets Trump threatens additional $200bn in tariffs on China
Author: 0 Trump threatens additional $200bn in tariffs on China

Security guards walk in front of containers at the Yangshan Deep Water Port in Shanghai, China on April 24, 2018. Last week Mr Trump announced the U.S. The tariffs were quickly matched by China on USA exports. Mr. Trump's comments came hours after the top US diplomat accused China of engaging in "predatory economics 101" and an "unprecedented level of larceny" of intellectual property.

Markets Google Invests $550 Million in Chinese Online Shopping Site JD.com
Author: 0 Google Invests $550 Million in Chinese Online Shopping Site JD.com

Google will receive 27.1 million newly issued JD.com Class A ordinary shares as part of the deal. To return the favor, the retailer will allow results to appear in the Shopping section of Googles search engine. Similar to how Amazon is the go-to online retailer in the United States, JD.com is China's second-largest website for buying everything from smartphones to soda.

Markets Stocks close down as U.S., China trade fire on tariffs
Author: 0 Stocks close down as U.S., China trade fire on tariffs

Beijing's tariffs on U.S. goods will start on July 6 - the same day as Trump's announced restrictions - and will apply to agricultural products as well as cars. Chinese officials have threatened further retaliation, sparking fears of a trade war between the two countries. In a statement on Friday, U.S. President Donald Trump defended the decision.

Markets Angela Merkel May Not Be Chancellor of Germany Much Longer
Author: 0 Angela Merkel May Not Be Chancellor of Germany Much Longer

Merkel wants two weeks to try to strike bilateral deals with partners, such as Italy and Greece, on migrants - possibly similar to one struck between the European Union and Turkey in 2016 - and to make progress at a June 28-29 European Union summit on an EU-wide policy.

Markets Audi boss Rupert Stadler arrested in Germany over dieselgate scandal
Author: 0 Audi boss Rupert Stadler arrested in Germany over dieselgate scandal

A spokesman for Audi UK confirmed Stadler's arrest but was unable to comment further. German news agency dpa reported that prosecutors chose to seek Stadler's arrest due to fears he might try to evade justice. where, in May, prosecutors filed criminal charges against former VW boss Martin Winterkorn. Most of its problems have been in the United States, where a total of nine people have been charged and two former VW executives have pleaded guilty and been sentenced to prison terms.

Markets Audi CEO detained amid diesel emissions investigation
Author: 0 Audi CEO detained amid diesel emissions investigation

Stadler's arrest was confirmed by a spokesperson of the greater Volkswagen Group, adding that the presumption of innocence applied to his case. German news agency dpa reported that prosecutors made a decision to seek Stadler's arrest due to fears he might try to evade justice.

Markets Audi CEO arrested in Germany over diesel scandal
Author: 0 Audi CEO arrested in Germany over diesel scandal

Stadler was arrested after a warrant was issued by a Munich prosecutor, the Sueddeutsche Zeitung newspaper reported , adding that his personal flat had been searched by fraud investigators last week. Stadler joined Audi in 1990, and became CEO in 2007. The Audi probe: Audi has been accused of having sold at least 210,000 diesel-engine cars fitted with cheat software in the U.S.

Markets China pledges to 'immediately' retalliate to Donald Trump's latest tariffs
Author: 0 China pledges to 'immediately' retalliate to Donald Trump's latest tariffs

Companies and trade groups in the United States and China have expressed concern over how the escalating trade spat between the world's two biggest economies could affect operations. The Global Times, a tabloid run by the People's Daily , called the US move "an irresponsible act on behalf of the White House to disrupt worldwide trade just to appeal to American voters who are convinced their president is fighting for them".

Markets McDonald's ditches plastic straws in Britain, Ireland
Author: 0 McDonald's ditches plastic straws in Britain, Ireland

And in Malaysia, McDonald's will try a new approach to dispensing straws - giving them out only if a customer requests one. It comes amid growing pressures on companies to reduce single-use plastic products and packaging, over concerns on the environmental impacts.

Markets Economic data overshadows Trump-Kim meeting for oil
Author: 0 Economic data overshadows Trump-Kim meeting for oil

OPEC and non-OPEC producers including Russian Federation are continuing with a deal to curb their supply, but the strategy is seen to have been effective with Brent and West Texas Intermediate (WTI) now trading around $75 and $66, respectively.

Markets Wetherspoon to stop selling champagne ahead of Brexit
Author: 0 Wetherspoon to stop selling champagne ahead of Brexit

It is the start of a review of all products, with the object of making our business more competitive'. And from this summer Wetherpoon's 880 pubs will serve wheat beers such as Blue Moon Belgian White - which is produced in the US - Thornbridge Versa Weisse Beer and SA Brains Atlantic White, both of which are British-brewed.

Markets Trump imposes tariffs on Chinese goods
Author: 0 Trump imposes tariffs on Chinese goods

The president announced plans to impose 25% tariffs on Chinese products, adding duties to $34 billion worth of goods that would go into effect July 6, while another $16 billion in tariffs would be due at a later date. This morning the U.S. Trade Representative included a list of another 1,102 products, which includes solar cell and module imports under 8541.40.60.

Markets Deputy dies, 1 in critical condition in courthouse shooting
Author: 0 Deputy dies, 1 in critical condition in courthouse shooting

Wyandotte County sheriff's spokeswoman Maj Kelli Bailiff said the suspect was also wounded in the shooting that took place outside the Wyandotte County courthouse shortly after 11am Friday morning. Neither he nor Kansas City, Kansas, resident Jesse Ware saw the shooting happen. Our law enforcement officers put their lives on the line each and every day to protect the public and their selfless service deserves our hightest honor.

Markets American farmers caught in the middle of global trade war
Author: 0 American farmers caught in the middle of global trade war

The US President said that he plans to confront China "very strongly" over trade in the coming weeks and that he intends to announce a fresh list of tariffs by Friday. Among the affected $16 billion in US goods include crude oil, natural gas, coal and some refined oil products. These tariffs will impose higher costs on USA companies that use the equipment.

Markets Germany Opens Doors to Mass Lawsuits Against Volkswagen
Author: 0 Germany Opens Doors to Mass Lawsuits Against Volkswagen

The mammoth carmaker admitted in 2015 to fitting 11 million vehicles worldwide with "defeat devices" - software created to trick regulators into thinking cars met emissions standards. Finance chief Frank Witter will update investors on August 1 on the implications of the fine for the carmaker's cash position, alongside its second-quarter results, VW said.

Markets Evansville flights to Charlotte canceled because of American Airlines technical glitch
Author: 0 Evansville flights to Charlotte canceled because of American Airlines technical glitch

People stranded at the Charlotte airport on Thursday night. Problems appear to have continued into Friday, with American Airlines saying in a statement to Newsweek that PSA plans to resume operations at 12pm EST on Friday. "We never want to disrupt our customers' travel plans, and we are sorry for the trouble this caused. We've all got important reasons to be home - you can do better than this, right?" Travellers must check the status of the flights before heading to the airport on ...

Markets Theranos founder Elizabeth Holmes steps down as CEO
Author: 0 Theranos founder Elizabeth Holmes steps down as CEO

The Securities and Exchange Commission leveled "massive fraud" charges against Holmes in March . Disgraced former Theranos CEO Elizabeth Holmes appeared in federal court in San Jose on Friday after federal prosecutors charged her and a former executive of the Bay Area blood-testing company with fraud.

Markets Trump targets $50bn in China goods, vows more if needed
Author: 0 Trump targets $50bn in China goods, vows more if needed

Ministry spokesperson Geng Shuang also said China would cancel any commitments to increase purchases of US exports should tariffs be imposed. Mr Trump outraged Canadian, Mexican and European leaders last month by imposing punishing tariffs on imports of steel and aluminum to protect American producers from allegedly unfair competition.

Markets Salmonella Outbreak Linked To Kellogg’s Honey Smacks Cereal — CDC
Author: 0 Salmonella Outbreak Linked To Kellogg’s Honey Smacks Cereal — CDC

No deaths have been reported in connection with Honey Smacks , but the FDA says it's "working with the company to quickly remove this cereal from the marketplace". "However, in some persons, the diarrhea may be so severe that the patient needs to be hospitalized". The agency first issued a warning last Friday, alerting people that it is investigating more than 124 salmonella infections involving contact with live poultry in backyard flocks.

Author: 0 McDonald's to test plastic-straw alternatives in USA later this year

McDonald's will begin to withdraw plastic straws from sale in September. UK Environment Secretary Michael Gove called on other companies to follow the example of McDonald's. Plastic straws enable many disabled people to drink independently , according to Baroness Tanni Grey-Thompson. Last week, Ikea announced it aims to phase out all single-use plastic products from its stores and restaurants by 2020.

Markets Crude oil futures stable amid conflicting opinions on OPEC deal - Oil
Author: 0 Crude oil futures stable amid conflicting opinions on OPEC deal - Oil

But OPEC , Russia and others have said any increase in output would be made gradually. The Obama administration wanted the cartel to offset disrupted Iranian production, after an global coalition put stringent sanctions on Iran in 2012. In statements on climate change and clean energy, the G7 statement hints at division by citing "Canada, France, Germany, Italy, Japan, the United Kingdom and the European Union" as united on low-carbon initiatives, while the United States was mentioned ...

Markets What happened in every key primary race last night
Author: 0 What happened in every key primary race last night

If he fails to top 50%, it would catapult him into a one-on-one runoff. The South Carolina race was a highlight of Tuesday's primary voting in five states. Comstock's suburban district, home to many federal government workers, has drifted left in recent years. Sanford went on to point out he had voted with the president 89 percent of the time.