Markets

Markets Fox prepping $33B bid for Sky to fight off Comcast
Author: 0 Fox prepping $33B bid for Sky to fight off Comcast

Just when you thought Disney had wrapped things up with its huge $71.3 billion bid for 20th Century Fox, The Hollywood Reporter brings word of another speedbump. Sky operates in Austria, Germany, Ireland and Italy as well as the U.K. It has 22.5 million customers, attracted by offerings such as English Premier League soccer and "Game of Thrones".

Markets Markets hit as Trump threatens new tariffs on China
Author: 0 Markets hit as Trump threatens new tariffs on China

China's commerce ministry said on Wednesday it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. "Despite the serious economic consequences of ever-increasing tariffs, today there are no serious trade discussions occurring between the USA and China , no plans for trade negotiations anytime soon, and seemingly little action toward a solution", Brady said.

Markets OPEC Wont Take Additional Action As Oil Prices Rise
Author: 0 OPEC Wont Take Additional Action As Oil Prices Rise

President Trump's response has been to demand that OPEC boost its oil production by two million barrels per day to calm markets and bring prices down. The move by South Korea, one of Iran's main customers in Asia along with China and Japan, comes as it is in talks to seek an exemption from United States curbs on buying Iranian oil, in line with a waiver it received during previous sanctions, Reuters reported .

Markets What Is the Endgame for the Trump Trade Wars?
Author: 0 What Is the Endgame for the Trump Trade Wars?

The US had no choice but to move forward on the new tariffs after China failed to respond to the administration's concerns over unfair trade practices and Beijing's abuse of American intellectual property, the officials said. goods, including soybeans and cars. These tactics include the outright theft of trade secrets, government subsidies to homegrown tech firms and demands that USA and other foreign companies hand over technology if they want access to China's vast market.

Markets Erdogan sworn in as Turkey's president with vast new powers
Author: 0 Erdogan sworn in as Turkey's president with vast new powers

President Lungu recently announced a ban on non-essential trips for government officials as a mark of adherence to a set of austerity measures. His supporters see them as just reward for a leader who has put Islamist values at the core of public life, championed the pious working classes and built airports, hospitals and schools.

Markets Asia's oil refiners rush to deal with US China trade war
Author: 0 Asia's oil refiners rush to deal with US China trade war

The concerns that oil prices will fall due to the US-China trade conflict have nearly disappeared. On Friday, western media reported that South Korea will not lift any Iranian crude and condensate in July, halting all shipments for the first time in six years amid US pressure to cut all imports of Iranian oil from November.

Markets China hits back after U.S. imposes tariffs worth $34bn
Author: 0 China hits back after U.S. imposes tariffs worth $34bn

Beijing called it the beginning of " the biggest trade war in economic history " and retaliated with tariffs on billions of dollars worth of USA exports. "The bottom for A-shares is nowhere in sight", said Samuel Chien, partner of Shanghai BoomTrend Investment Management Co. "The United States has blatantly violated WTO rules", Lu said.

Author: 0 Starbucks, citing environment, is ditching plastic straws

The strawless lid has already been in use at numerous company's stores for certain kinds of cold drinks like cold foam and "draft nitro", the coffee drink that comes out of a keg, mixed with nitrogen. As BBC News reported in February, a Scotland-based disability group called One in Five says paper, plant-based, and metal straws aren't adequate substitutes for single-use plastic straws and could even be unsafe for people, depending on their disability.

Markets British Brexit Secretary David Davis resigns over EU exit plan
Author: 0 British Brexit Secretary David Davis resigns over EU exit plan

His replacement will be announced shortly. "I would like to thank you warmly for everything you have done over the past two years as Secretary of State to shape our departure from the European Union", she said. "A wider rebellion, a leadership challenge, early elections and possibly another major shift in the Brexit strategy (either way) can not be ruled out", Citi said in a note to clients.

Markets Four Thai Boys have been rescued so far using buddy diving
Author: 0 Four Thai Boys have been rescued so far using buddy diving

Narongsak Osatanakorn, who is heading the operation, said in a Sunday night news conference . The rescue of the initial batch of boys was a stunning victory in an operation Narongsak had earlier dubbed "Mission Impossible", and led to cautious optimism that the others would also be saved.

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

Michael Gapen, chief USA economist at Barclays Plc in NY and a former Fed official, said that the boost in workers coming into the labour market bodes well for pushing down the unemployment rate again. The June jobs data showed an economy that may be on the cusp of producing stronger pay growth, something that could be disrupted if additional tariffs are imposed.

Author: 0 The rise in the USA unemployment rate isn’t bad news

Still, Satyam Panday of S&P Global Ratings summarized the view of economists that "Despite simmering trade tensions, hiring in the USA continues to stay strong". Hassett pointed to the increase in labor force participation for African American women and Hispanic men and women as an encouraging sign that people are being drawn back to work.

Markets US tariffs take effect, China warns of 'counterattack'
Author: 0 US tariffs take effect, China warns of 'counterattack'

They kicked in just after midnight ET, which is noon in Beijing . The U.S. officially implemented tariffs on Chinese imports, to which China immediately retaliated to with levies of its own. "Then as you know we have 200 billion in abeyance and then after the 200 billion we have 300 billion in abeyance", he noted. "It's borderline if we're going to make it or not", he said.

Markets Trump to Saudi Arabia: Lower Oil Prices or Else
Author: 0 Trump to Saudi Arabia: Lower Oil Prices or Else

Brent for September settlement lost 20 cents, or 0.2 per cent, to US$78.04 a barrel on the London-based ICE Futures Europe exchange, after gaining 48 cents yesterday. According to Commerzbank, OPEC now has just enough oil to meet global demands without Iran's supply. But strong personal relationships between the leaders and agreement on the overall deal obscure disagreement on some key details, not least the desirable level for oil prices .

Markets China Finds Way to Battle Chipmakers in US
Author: 0 China Finds Way to Battle Chipmakers in US

In a patent ruling in favour of UMC, the Fuzhou Intermediate People's Court of the People's Republic of China issued a preliminary injunction stopping Micron from selling 26 products, including dynamic random access memory and Nand flash memory-related products, UMC said on Tuesday.

Markets U.S. tariffs take effect, China announces retaliation
Author: 0 U.S. tariffs take effect, China announces retaliation

Washington-based think tank the Peterson Institute for International Economics (PIIE) expects USA tariffs on Chinese goods, which it says particularly target computers and electronics, to hurt multinationals more than China as well as other firms in Asia.

Markets Canada tariffs on US goods begin
Author: 0 Canada tariffs on US goods begin

On Monday, Canadian Prime Minister Justin Trudeau spoke with Lopez Obrador by phone. For Canada, tariffs of 10 percent are being imposed on about $12.5 billion worth of US products. Once automotive issues are addressed, the remaining NAFTA sticking points will largely be between Canada and the US - and it's an open question how much room Trudeau will have to manoeuvre Trudeau in areas like government procurement, supply management and intellectual property.

Markets PBOC acts to calm markets after yuan falls
Author: 0 PBOC acts to calm markets after yuan falls

Valuations also remain supportive of the dollar, with its trade-weighted basket still below long-term averages. Recent fluctuations in China's foreign exchange market were largely due to a stronger USA dollar and external uncertainties, Yi Gang, governor of the People's Bank of China (PBOC), said on Tuesday.

Markets Is Donald Trump on a relentless quest to corner Iran?
Author: 0 Is Donald Trump on a relentless quest to corner Iran?

Trump, who is spending the weekend at his golf property in New Jersey, said in a tweet on Saturday that Saudi Arabia's King Salman bin Abdulaziz Al Saud had agreed to produce more oil. Trump on Wednesday accused the Organization of the Petroleum Exporting Countries of driving up fuel prices. "Looks like OPEC is at it again", Trump tweeted in April .

Markets The Trump administration reportedly drafted a bill that abandons WTO rulebook
Author: 0 The Trump administration reportedly drafted a bill that abandons WTO rulebook

Last week, a source familiar with Trump's thinking told Reuters that the president has privately expressed a desire to quit the WTO , but that it was not a serious proposal. "We are going to be continuing negotiations with individual countries as well as organisations", she said. " The era of economic surrender is over ", said Donald Trump in his latest State of the Union Address in January.

Markets Trump Administration Moves To Block China Mobile From Offering Services In US
Author: 0 Trump Administration Moves To Block China Mobile From Offering Services In US

But the US Department of Commerce has recommended the licence request be denied. "In the current national security environment, it is the view of the Executive Branch, after consultation with the USA intelligence community and after consideration of additional information submitted by the applicant, that China Mobile's application does not serve the public interest", the Commerce Department's National Telecommunications and Information Administration (NTIA) division, which advises the ...

Markets Over 40 countries object at WTO to US auto tariff plan
Author: 0 Over 40 countries object at WTO to US auto tariff plan

Over 40 World Trade Organization members are warning the Trump administration that USA vehicle tariffs could seriously disrupt the world market. "They firmly believe that free trade is a powerful engine for global economic growth". Now it is attempting to resort to an all-out trade and economic war to hold back China's normal development. "The markets lack strong direction without incentives from the United States, where their markets were closed yesterday".

Markets Chinese billionaire dies after 15-metre fall while posing for photo
Author: 0 Chinese billionaire dies after 15-metre fall while posing for photo

Regional French media outlet France Bleu said Wang fell a dozen or so metres while taking photos on a high wall in Bonnieux , a town in a region famed for its panoramic views. He and his co-founder Chen Feng transformed HNA (Hainan Airlines) into one of China's most acquisitive companies, with more than $230bn (£175bn) in assets and a huge amount of debt.

Markets Moog faces job lay-offs in face of new Trump tariffs
Author: 0 Moog faces job lay-offs in face of new Trump tariffs

The EU responded to the steel and aluminum tariffs with "rebalancing measures" that hit around $3.25 billion worth of American-made products. President Donald Trump cited national security concerns for the previous tariffs. Mexico is adding duties to pork imports. The European Commission said the USA investigation into auto imports "lacks legitimacy, factual basis and violates worldwide trade rules".

Markets Mexico drug gangs: Will Amlo softer approach work?
Author: 0 Mexico drug gangs: Will Amlo softer approach work?

And he said, "We are conscious of the need to maintain good relations with the United States ". "In the case of Mexico, obviously we share a border with them (and) this president has made very clear about building that wall and having Mexico pay for it", the aide, Kellyanne Conway, said on Fox News.

Author: 0 Trump administration seeks to drop Iran's oil revenue to nothing

That's what we're doing, absolutely", he said. The Canadian Dollar fell following the news, bucking a recent move higher versus the US Dollar . "On balance, this leaves the oil market tighter than before, with less spare capacity". Over the weekend, US President Donald Trump tweeted that King Salman of Saudi Arabia agreed to increase oil production by 2 million barrels per day (bpd), "because of the turmoil & dysfunction in Iran and Venezuela", according to Trump's tweet .

Markets Walmart lists 'Impeach 45' shirts & baby onesies, boycott threatened
Author: 0 Walmart lists 'Impeach 45' shirts & baby onesies, boycott threatened

Walmart Inc.'s (WMT.N) website is selling t-shirts from third-party sellers with "IMPEACH 45" emblazoned across the front in big capital letters - a call to bring down the 45th USA president, Donald Trump . It's not the first time Walmart has gotten into hot water for controversial t-shirts for sale on its website. The company issued a similar statement when it came under fire previous year for selling a shirt with the words "Rope.

Markets LeBron James: Basketball star agrees to join Los Angeles Lakers
Author: 0 LeBron James: Basketball star agrees to join Los Angeles Lakers

During four seasons at South Beach, James and co won two championships before the OH native chose to return home to help the Cavaliers win a title. Los Angeles , mired in a five-year playoff drought, opened at 9-2 odds at the Westgate sports book to win the 2019 championship shortly after news broke Sunday that it had signed James to a $154 million, four-year contract.

Markets Trump touts economy in spite of ‘unfair’ trade deals
Author: 0 Trump touts economy in spite of ‘unfair’ trade deals

And Wisconsin-based Harley-Davidson has announced plans to shift some of its production overseas in the face of the retaliatory tariffs . The admonishment, written in a letter to US authorities dated Friday, came as US President Donald Trump said Europe is "possibly as bad as China " on trade in one of his biggest provocations to his country's longtime transatlantic allies.

Markets 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

The EU's letter reportedly said that it has not yet decided on countermeasures to possible vehicle tariffs , but said it is "likely" to apply them to "a significant volume of trade" in the event Trump imposes such tariffs. The EU sent comments to the US for consideration in the Department of Commerce investigation into whether auto imports pose enough of a threat to USA national security to justify tariffs and estimating the economic impact.

Markets HTC to lay off 1500 employees from its Taiwanese manufacturing division
Author: 0 HTC to lay off 1500 employees from its Taiwanese manufacturing division

The announcement echoed a strategic plan released by HTC earlier this year that was focused on streamlining its organization worldwide. HTC said it would cut 1,500 jobs in its manufacturing unit in Taiwan . Prior to that, HTC's then president of smartphone and connected devices, Chailin Chang, tendered in his resignation with immediate effect after the deal between HTC and Google was concluded.

Markets Amazon Prime Day UK: Everything you need to know
Author: 0 Amazon Prime Day UK: Everything you need to know

The offers officially begin at noon on Monday, July 16 and will run until the end of Tuesday, July 17. Amazon Prime Day Australia is finally a thing as Amazon has also launched Prime as a service Down Under, just in-time for Prime Day.