Markets

Author: 0 Trump issues WTO warning in meeting with Dutch leader

Trump's comments came in response to an 11-page European Union letter sent to the commerce department on Friday threatening that the global community would impose tariffs on up to $290bn of USA products if Trump moves forward with tariffs on foreign autos, according to the Financial Times.

Markets Five Years After Going Private, Dell Is Going Public Again
Author: 0 Five Years After Going Private, Dell Is Going Public Again

Dell will use its proceeds of the dividend to fund the cash consideration for Class V stockholders. In a press release on Monday, Dell said it aims to buy its own tracking stock as part of a deal valued at $21.7 billion. The tracking stock has almost doubled in value since it was issued, closing Friday at $84.58. "Unprecedented data growth is fueling the digital era of IT, and we are uniquely positioned with our portfolio of technologies and services to enable the digital, IT, security ...

Markets New Trump Tariffs Could Force US Job Cuts, GM Says
Author: 0 New Trump Tariffs Could Force US Job Cuts, GM Says

In comments filed with the Commerce Department, which is evaluating whether auto imports threaten US national security as the president has suggested, GM said the new tariffs would hurt the economy. GM said it employs about 110,000 workers in the US and has invested more than $22 billion across 47 manufacturing facilities since it emerged from its government-led bankruptcy in 2009.Both GM and Toyota warned that USA consumers would bear the brunt of increased costs.

Markets LeBron James To Lakers: Winners, Losers Of Huge NBA Free Agent Decision
Author: 0 LeBron James To Lakers: Winners, Losers Of Huge NBA Free Agent Decision

Unlike his two previous forays in free agency, James did not drag out his decision and made the announcement less than 24 hours after National Basketball Association free agency opened. The Suns need to wait until the heard draws near, then seeing that one or both have become weak, pounce and make their stab in free agency, finally themselves winning the offseason.

Markets The Saudis Won't Prevent The Next Oil Shock
Author: 0 The Saudis Won't Prevent The Next Oil Shock

Khalid Al Falih, Saudi Arabia's energy minister, stated that the new agreement implies an output increase of one million barrels per day, while other Opec members indicated an increase of 500,000 to 800,000 bpd. "He has agreed!" the tweet read. "The market will go up to $100 I am sure as Saudi Arabia said they will plan an increase for July". The Saudi Press Agency said Trump had called Salman and the two highlighted "the necessity of doing efforts in order to preserve the ...

Markets Auto tariffs could lead to $300B retaliation — European Union warns Trump
Author: 0 Auto tariffs could lead to $300B retaliation — European Union warns Trump

The US leader had already threatened to impose tariffs on cars imported from the European Union, in response to the bloc's retaliatory tariffs last week on popular US products including jeans, bourbon and motorcycles. Last week, European Council President Donald Tusk warned that Trump's policies are harming trans-Atlantic relations and that "we must be ready to prepare our Union for worst-case scenarios".

Author: 0 Oil falls as Saudi, Russian output rises

Iran possesses the second-largest gas reserves on the planet, after Russian Federation, and the fourth-largest oil supplies, while Saudi Arabia is the world's biggest oil exporter. March 20, 2018. Speaking in a ceremony to celebrate the national day of industry and mine, the official said that Iranian crude will be offered on the bourse and the private sector can export it, IRNA reported.

Markets Elon Musk calls Tesla 'a real vehicle company'
Author: 0 Elon Musk calls Tesla 'a real vehicle company'

Tesla confirmed the contents of the email. Instead, the question has been whether Elon Musk can deliver on his famously ambitious (unrealistic?) promises of mass production. In May, Tesla sent a new battery assembly line via cargo planes to its Gigafactory battery plant outside Reno, Nevada in order to speed production, as first reported by Reuters .

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

The Getaway left Miami last Sunday, June 24th, for a one week cruise which included ports in Mexico, Belize and Honduras. "Kudos to the Carnival Glory team for this wonderful effort to rescue a fellow seafarer". A cruise ship crew member who went overboard near Cuba has been found after surviving 22 hours in the ocean. "We're still searching", Coast Guard spokesman Jonathan Lally said Sunday just before 8 a.m.

Markets Opportunity! Amazon Wants You to Deliver Its Packages
Author: 0 Opportunity! Amazon Wants You to Deliver Its Packages

Inc. says startup costs begin at $10,000, and the businesses created under the program would operate 20 to 40 vans and employ between 40 and 100 people. To apply, head to the Amazon Logistics website . "We have great partners in our traditional carriers and it's exciting to continue to see the logistics industry grow", said Dave Clark, Amazon's senior vice president of worldwide operations.

Markets Saudi Arabia persuaded to help offset high oil price
Author: 0 Saudi Arabia persuaded to help offset high oil price

The Saudi leader said he was ready to raise output if needed, the White House said in a statement. The agency didn't say the leaders agreed and didn't make any reference to two million barrels. It closed Friday at $79.44. But destabilizing OPEC could throw global oil markets into even greater turmoil than they've seen since Trump's election.

Markets Adidas warns customers of potential data breach
Author: 0 Adidas warns customers of potential data breach

A preliminary investigation revealed that the data includes people's contact information, usernames and encrypted passwords. However, if you've purchased products from the Adidas US websites there's a chance your contact details have been leaked and Adidas will be contacting you.

Markets Nearly All Adult Americans’ Personal Data Exposed by a Data Mining Firm
Author: 0 Nearly All Adult Americans’ Personal Data Exposed by a Data Mining Firm

It appears that social security numbers were not included in the data-although given everything else the data contained, that's not much of a consolation. A new data leak could affect hundreds of millions of Americans, perhaps more than the almost 150 million affected by the Equifax breach . The official Exactis website says it is "a leading compiler and aggregator of premium business and consumer data with over 3.5 billion records".

Markets Elon Musk got into the weirdest fight over a farting unicorn
Author: 0 Elon Musk got into the weirdest fight over a farting unicorn

He created the farting unicorn mug and debuted it on his website in 2010 as a way to poke fun at people who don't really understand how electric cars work. Musk seems pretty adamant that he's willing to pay. Mr Musk described the row as "kinda lame". This letter was sent on 23 May by Tim Atkinson, and, as reported in the Guardian , was framed as "an invitation for all parties to continue to benefit from the whimsical, and amazingly spot on piece of imagery my client created in 2010, ...

Markets China slashes tariffs for Asian countries as US trade fight escalates
Author: 0 China slashes tariffs for Asian countries as US trade fight escalates

The Nasdaq composite dipped 1.5 percent to 7,445.08. Taiwan's benchmark fell and Southeast Asian indexes were mixed. US oil prices slipped slightly after climbing more than 3 percent on Wednesday to reach three-and-a-half year highs, helped by supply disruptions in Libya and Canada as well as government data showing a bigger-than-expected drop in USA crude stockpiles.

Author: 0 Why Oil Prices Are Surging

Trump in a tweet said he had spoken to King Salman of Saudi Arabia who had agreed to increase production. "It is becoming increasingly clear that Saudi Arabia and Russian Federation will struggle to compensate for potential losses in oil production from the likes of Venezuela , Iran and Libya", said Abhishek Kumar, analyst at Interfax Energy in London.

Markets Global stocks, oil rise on USA pressure to snub Iranian crude
Author: 0 Global stocks, oil rise on USA pressure to snub Iranian crude

The increase, if it can be pulled off, would be an incredibly rapid ramp up in output, up more than 1 million barrels per day (mb/d) from May levels. Supply in the United States is already plunging as the American Petroleum Institute reported a monster 9.2-million-barrel drop in supply.

Markets US Crude Oil Price Strength Shows No Sign of Ebbing
Author: 0 US Crude Oil Price Strength Shows No Sign of Ebbing

Largely because of unplanned disruptions in places such as Venezuela and Angola, the group's output has been below the targeted cuts, which it now says will be reversed by supply increases, especially from Opec leader Saudi Arabia . In response, the U.S. crude price has risen to its highest level for more than a month and the advance looks set to persist. "No good and will not be accepted!" "Meanwhile, OPEC's Libya's renewed in-fighting cost it 400,000 bpd of production last week and ...

Author: 0 Trump claims Saudi Arabia agreed to oil production hike, Riyadh doesn’t confirm

Im the run-up to the latest OPEC meeting, Riyadh, backed by Moscow, had argued strongly in favour of increasing production as grumbles in major consumer countries like the US, India and China have grown about higher prices. A gallon of regular gasoline sold on average in the USA for $2.85, up from $2.23 a gallon previous year, according to AAA . Iran opposed any changes to the original production-cut deal at a time when its oil industry is facing renewed sanctions over Trump's decision to ...

Markets Amazon starting deliveries with Amazon-branded vans
Author: 0 Amazon starting deliveries with Amazon-branded vans

Amazon is looking for entrepreneurs to help build out its delivery service with tens of thousands of new drivers across the U.S. An Amazon representative declined to give details on how much it will pay for the deliveries. Potentially, hundreds of new small-business entrepreneurs could help the company expand its delivery system enough to end reliance on traditional last-mile shippers such as UPS , FedEx and the U.S.

Markets In farewell to U.S. shoppers, Toys 'R' Us urges 'Play on!'
Author: 0 In farewell to U.S. shoppers, Toys 'R' Us urges 'Play on!'

The iconic giraffe is not the only one disappointed by an early retirement from Toys R Us, as thousands of (human) employees have also been laid off in the wake of the store's closing. Whether or not the zoo reaches its fundraising goal, the store closures and empty shelves do not mark the end of the memories so many people have of Toys "R" Us.

Markets Coca-Cola production affected by Carbon dioxide shortage
Author: 0 Coca-Cola production affected by Carbon dioxide shortage

Ice cream is another item at risk, just as temperatures breach 30 degrees Celsius (86 degrees Fahrenheit) in parts of northern Europe, along with pork and poultry. It is also used in guns for killing farm animals and adds fizz to carbonated drinks. The maintenance runs take advantage of slack demand for fertilizer given that farmers have already planted their crops by late spring.

Markets Rahul targets Modi over rise in Indian money in Swiss banks
Author: 0 Rahul targets Modi over rise in Indian money in Swiss banks

Reacting to the latest data from the Swiss National Bank (SNB) that showed the money of Indians stashed in Swiss banks rose over 50 per cent to Rs 7,000 crore in 2017, the former finance minister said that this news has led to a "misinformed reaction in certain circles" questioning "whether the Government's anti-black money steps have yielded results".

Author: 0 Thousands of Australians stranded after Mount Agung volcano spews ash

The airline also announced two inbound services from Denpasar, to Brisbane and Sydney, that were delayed from Thursday had been dropped and Saturday's services were under review. Mount Agung volcano erupts during the night, as seen from Kubu, Karangasem Regency in Bali, Indonesia on June 29, 2018. Its last major eruption in 1963 killed more than 1,000 people and razed several villages.

Markets Financial Focus: Trade War or Taken to the Cleaners?
Author: 0 Financial Focus: Trade War or Taken to the Cleaners?

During trade talks in Beijing on Monday, EU and Chinese leaders agreed to "resolutely oppose unilateralism and trade protectionism ". Trump has also threatened to slap tariffs on an additional $200 billion of Chinese imports. Ahead of Mattis' arrival, Chinese state media said a formation of Chinese warships has been holding daily combat drills for more than a week in waters near Taiwan, and there have been frequent Chinese air force exercises near the island.

Markets Rupee recovers from all-time low but remains under pressure
Author: 0 Rupee recovers from all-time low but remains under pressure

Higher crude oil prices and a declining rupee are a double whammy for India, forex dealers said . The rupee's fall to a lifetime low of 69.09 to a dollar on Thursday was not unexpected, as argued in this column previously . However, if more money is poured into the Indian capital markets , the government can manage the currency flow. "The pressure on INR is high , thus in the absence of major action from regulators, 70 levels can be seen", the head of currency and debt trading at a ...

Markets Europe will strike back if Trump imposes new tariffs on EU goods
Author: 0 Europe will strike back if Trump imposes new tariffs on EU goods

On the other hand, the European Union levies 10% tariff on cars imported from the US. The European Autos Stocks Index fell on Friday after Trump's tariff threat. "The tariffs, if they materialize, would call into question the business case for many niche models we now sell in the United States". There's support in the administration and from German auto makers for such an idea, but no agreement has been reached yet.

Markets As US market weakens, Harley-Davidson recruits new riders
Author: 0 As US market weakens, Harley-Davidson recruits new riders

Harley, which sold almost 40,000 motorcycles in Europe past year, said it planned to absorb those costs rather than pass them onto customers and risk hurting sales. In response to the US tariffs, the European Union began charging import duties of 25 percent on a range of USA products including big motorcycles like Harley's on June 22.

Markets Trump Tweets Harley-Davidson 'Will Be Taxed Like Never Before'
Author: 0 Trump Tweets Harley-Davidson 'Will Be Taxed Like Never Before'

But company spokesman Michael Pflughoeft said it was assessing the potential impact of the production shift on its US facilities. The EU's tariffs on motorcycles were put in place as a response to Trump's steel and aluminum tariffs. Its last quarter sales fell by 12 percent in the USA but grew by about 7 percent in multiple continents, including Europe. The Red Hen restaurant in Lexington, Virginia, has been flooded by online criticism from backers of Trump who are angry that its owner refused ...

Markets COMMENT: Harley-Davidson hits Trump where it hurts most -- his ego
Author: 0 COMMENT: Harley-Davidson hits Trump where it hurts most -- his ego

Trump tweeted . "Their employees and customers are already very angry at them". Tuesday he threatened Harley-Davidson, saying shifting production would be "the beginning of the end". But Harley-Davidson's plight in Europe drew fresh interest from French Parliament member Eric Straumann, who contacted Levatich to propose a new factory on the French-German border in Alsace.

Markets United States to curb Chinese investment in tech firms
Author: 0 United States to curb Chinese investment in tech firms

But Treasury Secretary Steven Mnuchin said Monday on Twitter that the rules could be applied to " all countries that are trying to steal our technology ". "Both sides believe that we must resolutely oppose unilateralism and trade protectionism and prevent such behavior from causing volatility and recession in the global economy", Liu told a media briefing after the talks.