Finance

Top US business group assails Trump’s handling of trade dispute

On Sunday, Trump said the European Union was "as bad" as China when it came to the way European countries traded with the US. "They treat us very unfairly". The number of exports that could be hit by retaliatory tariffs among the 10 most vulnerable states ranges from $1.7 billion in Pennsylvania to $6.2 billion in Washington . [Full Article...]

India Has Back-Up Plans In Case Of Complete Iranian Oil Cut-off

India Has Back-Up Plans In Case Of Complete Iranian Oil Cut-off But a flurry of United States announcements over the weekend unsettled oil markets. The spike was the latest fallout from the Trump administration's decision to abandon the landmark Iran nuclear deal and reimpose sanctions on Iran - a move that has strained relations between the United States and other world powers that support the deal. [Full Article...]

Critics Say Trump's US FART Act 'Stinks', Full of 'Hot Air'

Under the bill, Trump would be able to impose tariffs without congressional consent. Entitled the United States Fair and Reciprocal Tariff Act , the bill would abandon two fundamental WTO rules, according to the outlet, which reported it had obtained a draft copy. [Full Article...]

Dell could be about to go public again

Dell could be about to go public again Silver Lake will keep its 24 per cent minority stake. Dell Technologies Class C common stock will be listed on the New York Stock Exchange. Now, in a complex proposed transaction, VMware will pay an $11bn special dividend to all its shareholders, meaning DVMT shareholders will receive a pro-rata share of some $9bn. [Full Article...]

Inside LeBron James' Plan to Take Over Hollywood

Inside LeBron James' Plan to Take Over Hollywood The fact the Lakers are second-favorite to win the title next season is even more remarkable considering they last became NBA champions in 2010, also the a year ago in which they reached the NBA Finals. The Los Angeles Lakers have recovered nicely from the start of free agency by managing to win the LeBron James Sweepstakes . James helped Cleveland to their first National Basketball Associa... [Full Article...]

Saudi Arabia confirms call with Trump on oil market stability

Saudi Arabia confirms call with Trump on oil market stability In a tweet, Trump said Saudi Arabia would, at his request, increase production "maybe up to 2,000,000 barrels". An issue that compels me to write to Your Excellency is that we have not arrived to any decision to assign any allocated production level of any member to others. [Full Article...]

Pro-GOP Business Lobbying Giant Goes to War With Trump Over Tariffs

Pro-GOP Business Lobbying Giant Goes to War With Trump Over Tariffs When it comes to the ongoing re-negotiation of North American free trade agreement , Trump says he's going to wait until after November's mid-term elections, adding that he could quickly sign an agreement with Canada and Mexico but he's not, saying he is not happy with the current deal. [Full Article...]

European Union warns Trump that raised vehicle import tariffs would hurt US

Chinese tariffs on US passenger cars, imposed in retaliation for USA duties on Chinese goods, have already hiked up the cost of exporting to China, BMW said. Those measures would apply "across sectors of the USA economy", the letter reportedly said. Its ironic that the protectionist concept of trade tariffs will essentially threaten jobs in the United States, as usual in any conflict, trade or... [Full Article...]

Trump reportedly wants to withdraw United States from WTO

Trump reportedly wants to withdraw United States from WTO Analysts say chances of a U.S. withdrawal from the WTO would be slim, as such a move would require Congressional approval. "He thinks they impede good trade deals and make trading more complicated", the source said. "The WTO has a set of rules that disadvantage this country". "Faced with these unjustified tariffs, the United States will take all necessary actions under both USA law and glo... [Full Article...]

GM warns Trump import tariffs could shrink company, cost USA jobs

GM warns Trump import tariffs could shrink company, cost USA jobs Global Automakers, which represents auto giants like Honda, Subaru and Toyota , blasted the Trump administration's investigation, saying that the Commerce Department has not spelled out its theory for how imported cars and trucks "are relevant to USA national security". [Full Article...]

Trump says OPEC manipulating oil market, warns Europe on Iran

Trump says OPEC manipulating oil market, warns Europe on Iran That's what we're doing, absolutely. "We will surely do something to thwart the U.S. rallying cry that Iranian oil must be stemmed", First Vice President Eshagh Jahangiri said in statements broadcast on state television. Trump was referring to OPEC's decision to raise output together with its non-OPEC allies by around 1 million barrels per day, although since then Saudi Arabia has pledged to... [Full Article...]

Passengers cheer as passing ship rescues cruise ship worker

Passengers cheer as passing ship rescues cruise ship worker Carnival Cruise Line President Christine Duffy calls the rescue "nothing short of miraculous". Thankfully, the crew member was found by Carnival Glory and is reported to be in stable condition. "We are so happy to know that the individual is safe and will soon be reunited with friends and family.", the spokesperson told The Miami Herald . [Full Article...]

Tesla releases official production numbers: 53,339 vehicles including 28,578 Model 3’s

Tesla releases official production numbers: 53,339 vehicles including 28,578 Model 3’s Mr Musk said the company hit its target of 5,000 Model 3s in a week, according to an email sent to employees on Sunday afternoon and seen by Reuters . No standard automotive solution could be built in time, so we created a new solution. "Now that Tesla has achieved the 5,000 mark, it needs to do so on a steady, routine basis and with excellent quality", said Michelle Krebs, an analyst with ca... [Full Article...]

Today Is the Day Every Last Toys R Us Store Closes

Today Is the Day Every Last Toys R Us Store Closes Toys "R" Us is unfortunately officially closed, but before he retires Geoffrey might have a chance to step into a WWE ring thanks to Triple H . "My heart is breaking", Johnpiere wrote with a photo of the store's sale signs. In the UK, Toys R Us shut its final locations in April, but watching the animal waving goodbye really marks an end of an era. The toy store opened its doors 70 years ago... [Full Article...]

Indians' money in Swiss banks rises 50% in one year

Indians' money in Swiss banks rises 50% in one year These figures also do not indicate about the quantum of alleged black money, which has been a matter of a major political debate in various countries, including Pakistan and India. Chidambaram under the previous government", he said. The Tax department had detected suspected black money running into thousands of crores of rupees post investigations on global leaks about Indians stashing funds ov... [Full Article...]

Markets Right Now: Stocks skid on fresh trade fears

Markets Right Now: Stocks skid on fresh trade fears Federal Reserve's decision earlier in June to rate interest rates. Europe and Asia markets dropped after The Wall Street Journal reported that the Trump administration plans to limit high-tech exports to China and will limit Chinese investment in American technology companies. [Full Article...]

Could Boeing's new hypersonic jet concept be the future of air travel?

Could Boeing's new hypersonic jet concept be the future of air travel? Now the trip takes around seven hours. Unfortunately, Boeing did not say whether it is actively pursuing developing this plane at this time. And even if Boeing could manage all of these challenges, it still has cost to bear in mind. [Full Article...]

China tries to defuse trade pressure, says world benefits

China tries to defuse trade pressure, says world benefits Finally, both sides discussed connectivity - taking stock of progress in the EU-China Connectivity Platform - and exchanged views on the digital economy, including how to avoid introducing market access barriers through their respective cybersecurity regulations. [Full Article...]

CO2 shortage: Coca-Cola pauses production at some plants

CO2 shortage: Coca-Cola pauses production at some plants The retailer, which supplies restaurants and bars, is limiting orders to 10 cases of beer and five of cider or soft drinks, the BBC has reported. He said: " Wetherspoon has the advantage that it sources its wide range of drinks from a number of suppliers, so has not been too badly affected". [Full Article...]

Amazon wants to deliver its own packages

Amazon wants to deliver its own packages Earlier this year, President Trump tweeted that Amazon's deal with the USPS was costing the USA money for being Amazon's "delivery boy". "There are certain things that big, centralized companies do well, but there are other things where local people know better, and last-mile delivery is one of them", said Paul Oyer, a professor of economics and entrepreneurship at Stanford University's Gr... [Full Article...]


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