Finance

Audi CEO Rupert Stadler arrested

The Dieselgate scandal dates back to 2015, when Volkswagen was caught out by US authorities for installing emissions cheating defeat device software in millions of diesel vehicles sold worldwide. "Audi CEO Rupert Stadler was provisionally arrested this morning", Audi said in a statement. Audi had no immediate comment. The fallout has cost VW more than $30bn to date - the bulk of that sum i... [Full Article...]

USA targets Chinese tech with a 25 percent tariff

USA targets Chinese tech with a 25 percent tariff The tariffs will hit products including aircraft tires and commercial dishwashers. A lot, but not a lot. The Chinese haven't issued a list but have stated it would be an identical 25% on $50 billion of American exports. It also added, "China is a powerful guardian and has enough ammunition to defend existing trade rules and fairness". The statement was issued after the U.S. [Full Article...]

McDonald's to ditch plastic straws

McDonald's to ditch plastic straws New England Patriots quarterback Tom Brady has also joined to movement, writing in a recent Instagram post that he's "out on single-use plastic straws". The company says paper straws, which are more environmentally friendly, will replace plastic ones starting in September. In America, 500 million plastic straws are used every day. [Full Article...]

Ethereum spikes after the SEC declares it's not a security

Ethereum spikes after the SEC declares it's not a security The question hinges on whether investors are buying tokens with the expectation that they will increase in value based on the efforts of others. So reports CNBC , which notes that the SEC's head of the Division of Corporate Finance, William Hinman, delivered the news at the San Francisco Yahoo All Markets Summit: Crypto conference. [Full Article...]

European Central Bank will stop its bond-buying scheme, €30bn a month, next December

European Central Bank will stop its bond-buying scheme, €30bn a month, next December In a statement , the bank said: "The governing council will continue to make net purchases under the asset purchase programme at the current monthly pace of €30bn until the end of September 2018". Excluding autos, retail sales increased 0.9% in May (consensus +0.5%), and the April increase was revised to 0.4% from 0.3%. The latest weekly initial jobless claims count totaled 218,000, while... [Full Article...]

Saudis Are Said to Float Range of Ideas for Higher OPEC Output

Saudis Are Said to Float Range of Ideas for Higher OPEC Output In contrast, Saudi Arabia and several other OPEC members, including the United Arab Emirates and Kuwait, and non-OPEC nation Oman would prefer a gradual production boost to avoid upsetting the oil market. "The prospect of easing supply curbs from OPEC-led producers continues to be reflected in oil's overall depressed price action", said Lukman Otunuga, analyst at futures brokerage FXTM. [Full Article...]

Trump makes China tariffs official

Trump makes China tariffs official China responded to US tariffs announced Friday morning with a promise to impose reciprocal levies on a range of American products, including agricultural products, cars and seafood. The Dow Jones industrial average was down more than 220 points in mid-afternoon trading. It has previously said American products targeted for tariffs would include United States aircraft and soybeans. [Full Article...]

Kansas Deputies Shot, 1 Fatally, Outside Courthouse in Kansas City

Kansas Deputies Shot, 1 Fatally, Outside Courthouse in Kansas City No other information has been released about the deputies or the suspect. All three people were taken to an area hospital. Details of what led to the shooting were not immediately available. Melton was part of the police honor guard for Det. "Sending prayers to the officers, families and Wyandotte SO", the office said. The incident occurred while the two Wyandotte County Sheriff's deputies w... [Full Article...]

Elizabeth Holmes steps down as Theranos CEO as DOJ levels charges

Elizabeth Holmes steps down as Theranos CEO as DOJ levels charges The pair misled investors through false written and verbal communications, marketing materials containing falsehoods and "false and misleading financial statements, models and other statements", the indictment alleges. Earlier this month, a USA judge ruled investors who claimed that Theranos defrauded them into investing indirectly in the company by touting revolutionary blood-testing technology... [Full Article...]

Chip Makers: We'll End Up Paying Tariffs on Our Own Goods

Chip Makers: We'll End Up Paying Tariffs on Our Own Goods Trump went on to threaten China with more penalties, should the country decide to retaliate . A ministry statement gave no details of what us goods would be affected, but China announced possible targets in April including soybeans, light aircraft, orange juice, whiskey and beef. [Full Article...]

Kellogg's cereal source of 31-state salmonella outbreak — CDC

Kellogg's cereal source of 31-state salmonella outbreak — CDC Additionally, be sure to thoroughly wash the cereal container with warm, soapy water before using it again to remove harmful germs that could contaminate other food. The age of those who got sick ranges from 1 to 87 with a median age of 58, the CDC said. A 44 percent hospitalization rate is unusually high for Salmonella infection cases. [Full Article...]

McDonald's will sell paper straws in every restaurant in the UK

The move to paper straws will be completed next year. Some advocates say plastic straws are safer for certain customers with disabilities, but McDonald's says the plastic versions will still be available upon request "for those that require it". [Full Article...]

China-US trade standoff heats up again

China-US trade standoff heats up again If implemented, the tariffs will dent economic growth on both sides of the Pacific, analysts say. On Thursday, US Soybean futures fell over 9 cents amid renewed trade tensions. Beijing has threatened to impose tit-for-tat charges on U.S. goods if Trump goes ahead, with cars, planes and soybeans believed to be on its list. The affected products are expected to be similar to a preliminary list tha... [Full Article...]

Global crude oil prices dip on rising supplies from U.S., Russian Federation

Global crude oil prices dip on rising supplies from U.S., Russian Federation With OPEC's June 22 meeting on the horizon, geopolitical tensions are already weighing in as Iraq is warning Saudi Arabia that any unilateral agreements to ramp up oil production may constitute a breach of OPEC laws. The supply can see a reduction of 3,00,000-5,00,000 bpd. In 2017, OPEC began supply cuts of 1.8 million bpd to support the market. According to Baker Hughes , the rig cou... [Full Article...]

5 states vote in another round of closely watched primaries

5 states vote in another round of closely watched primaries Trump tweeted his support for Arrington and took a shot at Sanford on primary day, saying the former SC governor was better off in Argentina . Katie Arrington is on the verge of unseating a S.C. political fixture for the past 25 years. Democrats in two other districts they hope to retake nominated women: Abigail Spanberger in central Virginia and Elaine Luria in the district that ... [Full Article...]

Microsoft is reportedly taking on Amazon with checkout-free retail

Microsoft is reportedly taking on Amazon with checkout-free retail Microsoft's technology aims to help retailers keep pace with Amazon Go , a highly automated store that opened to the public in Seattle in January. Reuters said there is no timeline as to when Microsoft will bring the technology to retailers, and it's not clear if it will move ahead with it, although some are upbeat about the prospects. [Full Article...]

Massachusetts Named One Of The Least Affordable States For Renters

Massachusetts Named One Of The Least Affordable States For Renters Here's a breakdown of the report . The report uses the minimum wage, mean renter wage, and the Department of Housing and Urban Development's definition of fair market rent. "The affordable housing crisis demands that we think big and act boldly", writes Sen. The findings are based on the standard budgeting concept of not spending more than 30 percent of one's income on housing. [Full Article...]

Toyota to invest $1 billion in Grab

Toyota to invest $1 billion in Grab Automakers are taking steps toward a future where mobility services will make individual car-ownership less necessary, while trying to fend off technology giants targeting the same market. The company announced last week that it launched an investment arm called Grab Ventures to contribute to the growth of Southeast Asia's promising, yet underfunded early-stage startup scene. [Full Article...]

Trump may upset China on trade as USA tariffs loom

Trump may upset China on trade as USA tariffs loom Trump could technically delay implementation of the tariffs until after the November elections if he thinks talks with China are making progress in addressing USA concerns about intellectual property theft, according to Bruce Hirsh, head of Tailwind Global Strategies, a trade advisory firm. [Full Article...]

Musk's Boring Company to build high-speed system in Chicago

Musk's Boring Company to build high-speed system in Chicago A Boring Company spokesman said Thursday the company is "really excited" to work with the city. The transport system Boring has proposed is called Loop , a slower version of the Hyperloop that's designed for shorter distances and doesn't require vacuum conditions. [Full Article...]


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