Finance

Canada Marijuana Legalization Delayed Until October

Canada Marijuana Legalization Delayed Until October Trudeau admits that provincial and territorial governments will need some extra time in order to prepare for marijuana's infiltration of the retail market. On Wednesday, he tweeted , "It's been too easy for our kids to get marijuana - and for criminals to reap the profits". So far, the United States has yet to respond to Canada's historic move to make marijuana a part of legitimate co... [Full Article...]

Invesco launches Europe’s first Saudi Arabia ETF

Invesco launches Europe’s first Saudi Arabia ETF Saudi Arabia will be added to MSCI's emerging market index next year in two stages, joining a group of countries including Russian Federation and China. MSCI will decide whether to reclassify Saudi Arabia and its US$ 526 billion bourse to "emerging" from "standalone" status. The inclusion of China A-shares in the MSCI EM index this year led to capital outflow from the domestic stock market. [Full Article...]

Nigeria, S-Arabia, others disagree over oil supply

Saudi Energy Minister Khalid al-Falih had earlier signalled a compromise could be in the works. "I am sure we will come to consensus, and we will look back at this meeting as being equally important to the one we had in late 2016 when we chose to take that first action we took as 24 countries of restricting supply to bring stability back to the market", he added. [Full Article...]

How will the US-China trade war impact South Africa?

How will the US-China trade war impact South Africa? The Global Times, a widely read tabloid published by the ruling Communist Party's official People's Daily, said in an editorial China needed to be realistic about how it could handle the United States and look at other strategies. The EU said that if the situation isn't resolved, or if the US responds with more tariffs, the EU said that it will add additional tariffs on 160 USA products wort... [Full Article...]

Energy Stocks To Watch Ahead Of OPEC Meetings

ANZ bank also said it expected OPEC to slightly increase output to make up for some unplanned supply disruptions from places such as Venezuela, Angola and Iran. Venezuela's oil industry is collapsing due to years of mismanagement and an economic crisis. Ecuador said OPEC and its allies could agree to a compromise increase in output of around 0.5-0.6 million bpd. [Full Article...]

European Union tariffs on USA goods come into force

European Union tariffs on USA goods come into force If so, Irish whiskey exports could potentially be affected because US-made bourbon has been hit here. Beijing has pledged retaliation and Trump has threatened to push harder in response, saying that there could be tariffs on up to $450 billion of imports from China, close to the $500 billion of goods the United States gets from the world's second largest economy. [Full Article...]

India Urges OPEC Nations To "Fill Supply Gap", Ensure Sustainable Prices

India Urges OPEC Nations To But analysts said trade concerns and disagreements within the Organization of the Petroleum Exporting Countries ( OPEC ) over boosting supply continue to loom over the market . When OPEC and its allies, which include Russia , Kazakhstan and Mexico, agreed to cut output in late 2016, they announced a 1.8 million-barrel-a-day reduction. [Full Article...]

Looming Trade War Could Hurt US-China Cooperation On North Korea

Looming Trade War Could Hurt US-China Cooperation On North Korea The initial round of penalties announced by both nations is scheduled to take effect on July 6. Case in point: The White House threatened China with another round of punitive tariffs - right before Chinese President Xi Jinping met with North Korean leader Kim Jong-un. [Full Article...]

Head of VWs Audi arrested in Germany over diesel scandal

Head of VWs Audi arrested in Germany over diesel scandal Stadler is the most senior company official to be detained so far since Volkswagen admitted in September 2015 to using illegal software to rig USA emissions tests on diesel engines. The group also said that an investigation is now ongoing and it is yet to be determined whether Stadler would be remanded following the arrest. The arrest of the Audi CEO comes just weeks after Volkswagen ... [Full Article...]

European Union hits back at Trump with retaliatory trade tariffs

The European Union has announced a new range of retaliatory tariffs against the United States, in response to the USA revoking the EU's exemption from steel and aluminum tariffs. Together the trade battles have raised the spectre of a global trade war, spooking financial markets that fear major consequences to the world economy. [Full Article...]

Hackers steal $30 million from top Seoul bitcoin exchange

Hackers steal $30 million from top Seoul bitcoin exchange South Korea-based cryptocurrency exchange Bithumb has confirmed that virtual currency worth about $31.5 million has been stolen by hackers. Bithumb did not reveal any details about this latest hack, such as what cryptocurrency the hackers stole, how they got into their IT system, or how they exfiltrated funds. [Full Article...]

Another technical issue grounds flights on American in Charlotte

Another technical issue grounds flights on American in Charlotte American Airlines blamed last week's cancellations on a " technical issue ", but said PSA's schedules would begin returning to normal by 12 p.m. on Friday. "Charlotte Douglas International Airport continues to provide assistance to the airlines and our passengers as PSA and American Airlines work to resolve their operational issues. [Full Article...]

Trump's latest swipe at Canada? Smuggling US shoes

And the markets are unnerved . The Dow Industrials and S&P 500 fell more than a percent, but the losses in Asia were more severe. The Shanghai Composite Index was down 3.7 percent at midday while Tokyo's benchmark was off 1.7 percent. [Full Article...]

Starbucks To Close 150 U.S. Stores as Sales Growth Underwhelms

Starbucks To Close 150 U.S. Stores as Sales Growth Underwhelms Starbucks said its third quarter forecasts had been impacted by its decision to close 8,000 stores on the afternoon of May 29 to provide roughly 175,000 employees with anti-bias training. The Seattle-based company announced Tuesday that it will close approximately 150 underperforming stores in its most densely populated US markets amid sluggish sales - up from its usual rate of 50 per year. [Full Article...]

Stop border separation of families: United States tech giants

Stop border separation of families: United States tech giants On Monday morning, a Microsoft employee temporarily removed a passage about ICE from the blog post , which included language that said Microsoft is "proud to support" the agency's work. In addition, the company distanced its computer software and cloud services from ICE, which has been accused of taking hundreds of children away from their parents. [Full Article...]

US has rebuilt China: Trump claims

US has rebuilt China: Trump claims Security guards walk in front of containers at the Yangshan Deep Water Port in Shanghai, China on April 24, 2018. Beijing on Tuesday accused Donald Trump of "blackmail" and warned it would retaliate in kind after the United States president threatened to impose fresh tariffs on Chinese goods, pushing the world's two biggest economies closer to a trade war . [Full Article...]

Trump says Canadians smuggling United States goods, assails tariffs

They fought World War I with us, and we appreciate it, but we're protecting each other", he said before lashing out at NAFTA and Canadian tariffs on United States dairy products. "No, we're treated horribly". Ah yes, that old Canuck scuffed shoe grift with which we are all so familiar. 'We can no longer be the stupid country. [Full Article...]

Trump calls for US$200B more tariffs on China; US futures drop

China shipped far more goods to the United States ($505 billion past year, according to U.S. figures) than came back in the opposite direction ($130 billion). Trump's proposed new duties, as with the initial tariffs, alarmed the US business community. According to the New York Times , the President slammed Beijing's unfair trade policies and currency manipulation in a written statement , s... [Full Article...]

Musk emails staff alleging employee 'sabotage'

Musk emails staff alleging employee 'sabotage' Company spokeswoman Gina Antonini declined to comment on the email. As you know, there are a long list of organizations that want Tesla to die. Further, he has expressed his concern over the long list of organisations who want Tesla to die for their personal benefits including Wall Street short-sellers, oil and gas companies, big gas/diesel auto companies among others. [Full Article...]

President Trump Urges New Tariffs On $200 Billion In China Trade

President Trump Urges New Tariffs On $200 Billion In China Trade Security guards walk in front of containers at the Yangshan Deep Water Port in Shanghai, China on April 24, 2018. US President Donald Trump threatened on Monday to impose a 10% tariff on US$200 billion (RM799 billion) of Chinese goods, saying the move was in retaliation for China's decision to raise tariffs on US$ 50 billion (RM199 billion) in US goods. [Full Article...]


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