Finance

Erdogan vows to advance Turkey under new governance system

Erdogan vows to advance Turkey under new governance system Observers had speculated that the purge might ease after the elections, but on Sunday the government issued a decree dismissing 18,000 state employees including teachers, police and military officers over alleged links to terrorist groups. [Full Article...]

As China Tariff War Escalates, US Oil Sellers May Look To India

As China Tariff War Escalates, US Oil Sellers May Look To India USA crude CLc1 was down 30 cents at $73.50. West Texas Intermediate rose 61 cents to settle at $73.55, while Brent declined by 39 cents to $77 per barrel. American crude shipments to China now stand around 400,000 barrels per day (bpd), worth $1 billion a month at current prices. USA investment bank Jefferies said on Friday it expected “a drop in Iranian exports well in excess of 1 million b... [Full Article...]

It’s on: US, China tariffs take effect in new trade war

It’s on: US, China tariffs take effect in new trade war At the stroke of midnight Washington time, the USA pulled the trigger on 25% duties on $34 billion in Chinese machinery, electronics and hi-tech equipment, including autos, computer hard drives and LEDs. "China trade war , and let's hope it's not Fort Sumter", the piece began. In the past, the USA used its economic clout to win trade skirmishes with developing countries, said James Boughton, ... [Full Article...]

UK: Dominic Raab replaces David Davis as Brexit Secretary

UK: Dominic Raab replaces David Davis as Brexit Secretary After the hours-long meeting at Chequers, May seemed to have persuaded the most vocal Brexit campaigners in the cabinet, including Davis, to back her plan to press for "a free trade area for goods" with the European Union and maintain close trade ties. [Full Article...]

The last straw? Starbucks pledges to eliminate plastic straws globally by 2020

The last straw? Starbucks pledges to eliminate plastic straws globally by 2020 The new designs have drawn comparisons to an adult "sippy cup ". Straws made with alternative materials like paper and compostable plastic will be provided with Frappuccinos, as well as upon request by customers. McDonald's said earlier this year that it would stop using plastic straws at all of its stores in the United Kingdom and Ireland. In May, the European Union also suggested a ban on ... [Full Article...]

Seattle first big city to ban straws

Seattle first big city to ban straws The ban impacts over 5,000 restaurants and food providers in the region. The city made an exception for the continued use of plastic utensils and straws until this year, however, because there weren't realistic alternatives for businesses when the 2010 ban was enacted. [Full Article...]

China's opening-up means more cooperation with Europe

China's opening-up means more cooperation with Europe China remains open for trade with foreign partners and can only benefit from an economically strong Europe , Premier Li Keqiang said, as he pressed for expanded ties with the continent's eastern wing while waging a tariff war with Washington. [Full Article...]

Thailand cave rescue: Operation resumes for remaining boys

Thailand cave rescue: Operation resumes for remaining boys Rescuers took advantage of a break in the rain to launch the mission much earlier than originally expected. While divers were resting, various oxygen points in the rescue route have been re-stocked with tanks to ensure minimal risk of deprivation. [Full Article...]

Former Permanent International Trade Secretary: May's Brexit Plan "Better Than No Deal".

Former Permanent International Trade Secretary: May's Brexit Plan The cabinet, including Brexiteers, rubber stamped the proposal for a new UK-EU free trade area for goods to be created during crunch talks at Mrs May's country retreat, Chequers , on Friday. In this case, the British Pound will fulfil the opposite function - we will be able to determine to what degree the position is truly a " Brexit in name only" by the reaction of the British Pound. [Full Article...]

ZTE Trying To Get On US Good Side With New CEO

ZTE Trying To Get On US Good Side With New CEO ZTE , which relies on USA suppliers for core components, had to cease major operations in April after the US government imposed the ban, saying the firm broke an agreement to discipline executives who conspired to evade US sanctions on Iran and North Korea . [Full Article...]

Canada’s trade gap grows as imports rise, exports edge down

The May decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.6 billion to $65.8 billion and an increase in the services surplus of $0.5 billion to $22.7 billion. "Energy imports swelled to compensate for temporary shutdowns at Canadian refineries". Exports were off slightly for the month, falling 0.1 percent to Can$48.3 billion, on a 3.6 percent decline in s... [Full Article...]

Three Takeaways From the June Jobs Report: Mohamed A. El-Erian

Three Takeaways From the June Jobs Report: Mohamed A. El-Erian Although the report for June was far from uniformly strong, it will reinforce the perception that the USA will continue to outpace other countries and should be able to navigate trade policy uncertainties as long as they don't lead to a full-blown global trade war. [Full Article...]

Montreal unemployment rate drops to lowest level since December

Montreal unemployment rate drops to lowest level since December Market expectations were for an increase in employment of 20,000, according to economists at Royal Bank of Canada. The jobs report Friday showed that, compared with a year earlier, overall employment was up 1.2 per cent last month following the creation of 214,900 jobs. [Full Article...]

Sonos aims to ride 'Sonic Internet' to IPO success

Sonos aims to ride 'Sonic Internet' to IPO success However, that figure is a placeholder used to calculate the amount of the registration fee as required under SEC rules, so the actual amount of capital it's seeking to raise through the offering could be different. This filing gave some insight into the financials behind the company. As for the Google Assistant, Sonos says it's working on that and repeats the recent promise by execs that a 2018 ... [Full Article...]

US Adds Solid 213,000 Jobs; Unemployment Up to 4%

US Adds Solid 213,000 Jobs; Unemployment Up to 4% The US economy created a higher-than-expected 213,000 jobs last month, official figures show. The combination of strong job growth with stagnant wages has been an ongoing pattern in jobs reports since the 2007-2008 financial crisis and subsequent "Great Recession". [Full Article...]

Move Over, Warren Buffett-Mark Zuckerberg Is Now the World's Third-Richest

Move Over, Warren Buffett-Mark Zuckerberg Is Now the World's Third-Richest The 34-year-old now trails behind Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates , taking over the third spot from Buffett on Friday, Bloomberg reported . Buffett, once the world's wealthiest person, is sliding in the ranking thanks to his charitable giving, which he kicked off in earnest in 2006. Facebook also came in for major heat in 2016 for the role it played providing ... [Full Article...]

US Fed on lookout for recession but still sees strong economy

US Fed on lookout for recession but still sees strong economy Last month, the Fed raised its key interest rate by 25 basis points to between 1.75% and 2%, and expects to increase borrowing costs two more times this year. That is the phrase the Fed uses to say that rates are still low enough to stimulate growth. The U.S. has imposed tariffs on imported steel and aluminum and threatened to slap more levies on other products from some of its biggest trad... [Full Article...]

Jobs Numbers: U.S. Adds 213,000 in June 2018

Ontario added 34,900 jobs for an increase of 0.5 per cent compared with the previous month, while Saskatchewan posted its largest monthly gain in over six years with the creation of 8,300 positions, which represented 1.5 per cent growth. "I'm really excited to see that the labor force is growing", said Catherine Barrera, chief economist of the online job site ZipRecruiter. "However, the ongoing tr... [Full Article...]

Iran says Trump rhetoric to raise oil prices to $100

Iran says Trump rhetoric to raise oil prices to $100 This must be a two way street. Oil was mixed on Friday, with short-covering pushing up USA crude futures while Brent slipped on global trade tensions and increased Saudi production. And then, Halff added, Trump assumed "that the increase in prices has nothing to do with the United States when the price increase is to some degree self-inflicted since it is driven by concern about the removal of... [Full Article...]

RECORD SMASHED: Hispanic Unemployment Falls to LOWEST LEVEL in US HISTORY

RECORD SMASHED: Hispanic Unemployment Falls to LOWEST LEVEL in US HISTORY The goods-producing sector added 46,600 positions in June thanks to job-creation boosts in construction, natural resources and manufacturing. The unemployment rate rose as an additional 601,000 Americans entered the labor force, meaning a strengthening labor market appears to have actually coaxed some workers back into the labor force. [Full Article...]


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