Finance

Finance Erdogan assumes new presidential powers, tightening control over Turkey
Author: 0 Erdogan assumes new presidential powers, tightening control over Turkey

Under controversial constitutional reforms approved by a referendum previous year, parliament has been weakened and the post of prime minister abolished. Erdogan is also expected to meet European Council head Donald Tusk, European Commission President Jean-Claude Juncker and European Parliament President Antonio Tajani.

Finance Murdoch's Fox ups Sky bid to $32.5 billion, all eyes on Comcast
Author: 0 Murdoch's Fox ups Sky bid to $32.5 billion, all eyes on Comcast

Now that the Disney deal is looking more and more certain, focusing on Sky - and winning that deal - would give them a better reach into Europe as well as blocking Disney from total control of that company. Chaplin and other analysts on Wall Street are hoping that Fox, Comcast, and Disney can find a way to back off a full-out bidding war over all parts of Murdoch's entertainment empire, with Comcast taking the Sky business for the $34 billion and Disney taking the rest of the Fox ...

Finance Why China Is Losing the Trade War
Author: 0 Why China Is Losing the Trade War

These groups and their GOP members of Congress - previously broadly supportive of Mr. Trump - have begun agitating for the President to ease up in his trade war . " China is shocked by the irrational movement of the US. It will also result in retaliatory tariffs, further hurting American workers", a Chamber spokeswoman said.

Finance Iranian oil minister call Trump's order to OPEC insulting
Author: 0 Iranian oil minister call Trump's order to OPEC insulting

Perhaps no one told him that Iran was a founding member of OPEC? He further said the anti-Iran efforts by the USA president were largely to blame for the high oil prices in worldwide markets. "Some of the companies are trying to find other options other than Iran, be it the kingdom (Saudi Arabia), Emirates, Iraq or Kuwait", he said. The United States in May said it was walking away from the 2015 nuclear deal between Tehran and world powers.

Finance European exporters in China shift trade to avoid U.S. tariffs
Author: 0 European exporters in China shift trade to avoid U.S. tariffs

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. China has vowed to retaliate dollar-for-dollar to any further United States tariffs. The administration says its tariffs are created to punish China for what it calls unfair trade practices, theft of intellectual property, and "forced technology transfers".

Finance Starbucks is eliminating plastic straws from all stores
Author: 0 Starbucks is eliminating plastic straws from all stores

Starbucks, which doles out more than 1 billion straws a year, says it will phase out single-use plastic straws from its stores by 2020. Vancouver will be the first Canadian city to have the new lids, starting in the fall of this year. The company said in a release that paper or compostable straws will be available for customers upon request, and will be served with their Frappuccino blended drinks.

Finance UK's Brexit Secretary David Davis has resigned
Author: 0 UK's Brexit Secretary David Davis has resigned

Mr Davis quit late on Sunday night, saying Theresa May had "given away too much too easily ". After many months of rumours that he would pull the plug, David Davis has actually quit as Brexit Secretary. "I do not agree with your characterisation of the policy we agreed", she said, asserting that it "will undoubtedly mean the returning of powers from Brussels to the United Kingdom".

Finance Four Thai boys rescued from cave in good condition, says Interior Minister
Author: 0 Four Thai boys rescued from cave in good condition, says Interior Minister

Interior Minister Anupong Paojinda said the same divers who took part in Sunday's rescue will return to extricate the others as they know the cave conditions and what to do. In an indication of how risky the journey can be, a former Thai navy diver died in the caves on Friday. Meanwhile, a letter of apology from the coach of the football team was delivered to the boys' parents via the cave divers.

Author: 0 USA jobs report shows room to run as trade war threatens gains

Even so, a steady pace of hiring and gradually rising wages, along with lower taxes, are helping underpin consumer spending and propelling a rebound in USA growth. For Catherine Barrera, who works as the Chief Economist for online job site ZipRecruiter, reportedly said the labor force numbers quelled her concern about the unemployment figure.

Finance ZTE taps in-house executive as new CEO
Author: 0 ZTE taps in-house executive as new CEO

Zhang Zhenhui was one of scores of executives at China's No.2 telecommunications equipment maker ordered to leave as part of a $1.4 billion settlement deal ZTE made with the United States in June in order to end a seven-year supplier ban .

Finance US economy adds more jobs than expected in June
Author: 0 US economy adds more jobs than expected in June

But in Friday's revised figures, BLS reports that the legal services industry actually gained 300 jobs in May, compared with April. The US economy keeps adding jobs at a blistering pace. On the same day as the release of June's jobs report , the USA and China are imposing duties on more than $30 billion-worth of each other's goods.

Finance USA tariffs on Chinese imports take effect
Author: 0 USA tariffs on Chinese imports take effect

United States indices rose today (see table below) as investors looked past President Trump's just-initiated trade war with China to positive employment data. White House Press Secretary Sarah Sanders said while Xi's response was encouraging, the Trump administration needs to see "concrete actions from China".

Finance Oil prices climb on tightening U.S. market
Author: 0 Oil prices climb on tightening U.S. market

The US is producing more oil than it has ever done, though it may be reaching its maximum capacity. After all, the more oil goes up in price , the more expensive gasoline gets. Jimmy Carter struggled with high gas prices, which had doubled since the Iranian revolution. "He has agreed", Trump tweeted on June 30. Weekend discussions with Saudi Arabia , the de facto leader of OPEC , led to pledges from Riyadh to ensure the market was stable given lingering concerns about supply deficits.

Finance World powers back Iran oil exports despite US sanctions threat
Author: 0 World powers back Iran oil exports despite US sanctions threat

Washington has since told allies they must stop buying the OPEC producer's oil from November 4 or face financial consequences. While the other signatories have vowed to stay in the accord, dozens of European, Russian, and Asian companies have announced plans to pull out of Iran for fear of incurring US penalties when sanctions are reimposed in November.

Finance Wang Jian: China's HNA Group boss falls to his death in France
Author: 0 Wang Jian: China's HNA Group boss falls to his death in France

Chinese aviation-to-financial conglomerate HNA Group rattled capital markets Wednesday with news that co-founder and Chairman Wang Jian accidentally fell and died during a business trip in France . The Chinese company employs over 400,000 people worldwide. No additional details were divulged by HNA. Numerous companies also came under scrutiny for their opaque ownership structures.

Finance Asian markets tumble as China-US trade tensions rise
Author: 0 Asian markets tumble as China-US trade tensions rise

China, Japan, and South Korea all reported that their export orders eased back in June as trade tensions continue with the US. Any new USA tariffs would likely lead to further retaliatory measures from China and the EU. Its ironic that the protectionist concept of trade tariffs will essentially threaten jobs in the U.S., as usual in any conflict, trade or otherwise, there is always "collateral damage".

Finance Canadian Tariffs on US Goods from Ketchup to Lawn Mowers Begin
Author: 0 Canadian Tariffs on US Goods from Ketchup to Lawn Mowers Begin

Well see where it goes.”. Canada's retaliatory tariffs on USA goods do nothing to help Canada and will only hurt American workers, White House spokeswoman Sarah Sanders said Monday. "It only hurts American workers", White House spokeswoman Sarah Sanders told a media briefing when asked about Canada's action. HEIGHTS, N.J. -President Donald Trump intends to delay signing a revised version of the North American Free Trade Agreement until after the fall midterm elections, a move aimed at ...

Finance Will Saudi Arabia boost oil production?
Author: 0 Will Saudi Arabia boost oil production?

The destruction of two more storage tanks will probably have a long-term effect on exports. Late last week, Iran's Oil Minister Bijan Zangeneh urged the Organization of Petroleum Exporting Countries ( OPEC ) to prevent some of its members from increasing output without arriving at a consensus.

Finance Iran tells Trump: Stop tweeting, it's driving up oil prices
Author: 0 Iran tells Trump: Stop tweeting, it's driving up oil prices

Oil prices have been rocked by recent comments from President Donald Trump . This must be a two way street. "One factor behind the drawdown has been US crude exports, which have shot higher to help fill the void left in Europe and Asia by the voluntary and involuntary reductions from OPEC producers", he said in emailed remarks.

Finance Trump Administration Prepares Bill Allowing US to Circumvent WTO Rules
Author: 0 Trump Administration Prepares Bill Allowing US to Circumvent WTO Rules

The draft bill would reportedly give the president the power to ignore the worldwide trade rules set by the World Tradt Organization, according to a draft copy obtained by AXIOS . That means any European retaliation over vehicle tariffs introduced by Mr Trump would likely target a bigger sum of American goods exported to Europe than the amount hit by the European measures responding to the metal levies.

Finance USA tariffs on Chinese goods to come into effect
Author: 0 USA tariffs on Chinese goods to come into effect

US manufacturers and business groups have said the tariffs could increase their costs and lead to higher prices for consumers . The Trump administration stated that the tariffs are created to hit industries identified by the Chinese government's Made in China 2025 initiative, which aims to build up certain high growth sectors.

Finance Trudeau visits Regina steel workers on Canada Day
Author: 0 Trudeau visits Regina steel workers on Canada Day

On Sunday, Ottawa responded to the Trump administration's tariffs on Canadian steel and aluminum with duties of its own against US imports. The Canadian measures take aim at 16.6 billion dollars worth of goods, matching dollar for dollar the tariffs imposed by the US.

Finance Tariffs on European cars could cut U.S. production — BMW warns officials
Author: 0 Tariffs on European cars could cut U.S. production — BMW warns officials

He's about to find out. Trump contends that tariffs encourage companies to source locally and "buy American", while opponents of the measures say that they threaten economies both local and global. The U.S. also asserts that Beijing uses state money to buy American technology at prices unaffordable for private companies. As with steel and aluminum, " national security " would be the justification.

Author: 0 Trump Says Saudis Must Compensate For Drop In Iran Oil Supply

They also stressed on the importance of providing supplies when necessary to "achieve common interests and stimulate the global economic growth". On Fox, Trump directed blame at the Organization of Petroleum Exporting Countries, of which Saudi Arabia is a member.

Finance Walmart boycott campaign launched after outcry over ‘Impeach 45’ clothing
Author: 0 Walmart boycott campaign launched after outcry over ‘Impeach 45’ clothing

Other brands that have aroused howls on social media include athletic clothing and equipment brand Under Armour after its chief executive praised Trump, and sporting goods chain Dick's Sporting Goods that restricted some gun sales. The members of the Walton family - most prominently Jim, Rob, and Alice - generally hold conservative political views that align with President Trump's policies.

Finance German deal to handle migrants faces potential veto
Author: 0 German deal to handle migrants faces potential veto

If Seehofer does quit, the CSU could offer a replacement interior minister if it aims to remain tied to Merkel's CDU party. "Because we are a success story for Germany ". The proposal could also shift the political crisis south to Austria, where the government said it could take its own measures to protect its borders.

Finance Auto tariffs could lead to $300B retaliation — European Union warns Trump
Author: 0 Auto tariffs could lead to $300B retaliation — European Union warns Trump

Exports threatened by new tariffs include about $842.5 million worth to China , $292 million to Mexico, $88 million to the European Union and $1.1 million to Canada, the study says . But mounting trade tensions have opened a rift with the president. Trump railed against his trading partners during the meeting, according to sources, and withdrew his support for a joint communique after leaving the summit, angering and bewildering some of Washington's closest allies.

Finance HTC is looking to fire another 1,500 employees
Author: 0 HTC is looking to fire another 1,500 employees

HTC will be letting go of 1500 employees from its Taiwanese manufacturing division. HTC has made a statement which reveals that the company is going to lay off as much as 1,500 people from its manufacturing plant in Taiwan . The company reported a 55.5% drop in April revenues year-on-year, according to Reuters . The announcement echoed a strategic plan released by HTC earlier this year that was focused on streamlining its organization worldwide.

Finance LeBron James, Cleveland Cavaliers talk at start of free agency
Author: 0 LeBron James, Cleveland Cavaliers talk at start of free agency

Sherman said the Lakers are fourth in the Westgate's power rankings behind Golden State, the Houston Rockets and Boston, with the 76ers fifth. Now that it's Monday, the local newspapers in Cleveland can appropriately say goodbye to their star and hometown product, and those in Los Angeles can welcome their new free agent acquisition with the fanfare he deserves.

Finance Dude, Dell is going public again
Author: 0 Dude, Dell is going public again

Dell said it will propose to exchange each share of VMware tracking stock for 1.3665 shares of Dell Technologies Class C common stock, or at the holder's election, $109 in cash, subject to the total amount of cash consideration not above $9 billion.

Finance Saudis agree to pump more oil
Author: 0 Saudis agree to pump more oil

OPEC and other oil producing countries, including Russian Federation, agreedthis month to amp up production by 1 million bpd starting July 1. The news agency also reported Saturday that Saudi Energy Minister Khalid al-Falih said the kingdom will increase output by hundreds of thousands of barrels, with exact figures to be determined later.

Finance India Has Back-Up Plans In Case Of Complete Iranian Oil Cut-off
Author: 0 India Has Back-Up Plans In Case Of Complete Iranian Oil Cut-off

This increase was needed to cope with the "turmoil and dysfunction in Iran and Venezuela", Trump said , referring to United States plans to impose new sanctions on Iran and low oil production in the South American country. "They seek to push Iranian exports of crude, condensate, and oil products to zero", energy consultancy FGE said in a note. On Fox, Trump directed blame at the Organization of the Petroleum Exporting Countries, of which Saudi Arabia is the biggest producer.

Author: 0 Trump blasts OPEC, warns European companies against business with Iran

Iran is among the nations with the highest oil serves, along with Saudi Arabia , which is the world's leading exporter of oil. The United States exited from the nuclear deal between Iran and world powers in May and said it would reimpose economic sanctions on the Islamic republic and its business partners by November 4.

Finance Tesla hits 5,000 Model 3 production target
Author: 0 Tesla hits 5,000 Model 3 production target

Tesla also expects to produce 6,000 Model 3 sedans a week "next month". "The level of dedication and creativity was mind-blowing". The Los Angeles Times writes, "Optimism about the Model 3 transforming Tesla into a much bigger carmaker that sells to the mass auto market sent the company's market capitalization past Ford Motor Co.

Finance ‘Miraculous’: Cruise ship rescues crew member who went overboard near Cuba
Author: 0 ‘Miraculous’: Cruise ship rescues crew member who went overboard near Cuba

The Norwegian Getaway had departed Miami on June 24 and was scheduled to return Sunday. "Kudos to the Carnival Glory team for this awesome effort to rescue a fellow seafarer", the spokesperson said . "We apologize for disturbing you at this moment, but it's time to give you an update on our situation". A man who went overboard on the cruise ship Norwegian Getaway was rescued almost 24 hours later by another cruise ship.