Business

Business Oil price up as Trump calls OPEC to lower prices
Author: 0 Oil price up as Trump calls OPEC to lower prices

The talk of $100 crude comes just hours after OPEC and its allies rebuffed pressure from U.S. President Donald Trump to immediately boost production to lower oil prices. When Trump in May announced plans to reimpose sanctions on Iran's oil exports, the market estimated a cut of about 300,000 to 700,000 barrels a day, according to Trafigura's Luckock.

Business Trump says Opec producers must bring prices down
Author: 0 Trump says Opec producers must bring prices down

US sanctions on Iran's oil exports come into force on November 4. Venezuela's cratering economy and Libya's tenuous security also present supply risks to the market. In the last two weeks, he has also met Novak and his USA counterpart Rick Perry . By beating Russian Federation and Saudi Arabia, the United States of America this year has become the topmost crude oil producer.

Business Oil edges up on supply concerns
Author: 0 Oil edges up on supply concerns

China, one of the world's largest oil consumers, on Tuesday added $60 billion of US products to its import tariff list. While trade disputes and financial woes in some countries may affect crude demand, the IEA said supply risks are the more important issue.

Business Oil falls below $70 as supply risks assessed against Opec salvo
Author: 0 Oil falls below $70 as supply risks assessed against Opec salvo

U.S. West Texas Intermediate (WTI) crude CLc1 futures rose $1.12 to settle at $70.37 a barrel, a one-week high. "Things are tightening up", the agency said in its monthly report, but added: "As we move into 2019, a possible risk to our forecast lies in some key emerging economies, partly due to currency depreciations versus the USA dollar raising the cost of imported energy".

Business Why Trump's tariffs aren't raising a sweat in China
Author: 0 Why Trump's tariffs aren't raising a sweat in China

The White House warned Monday that it would respond to any retaliation from Beijing with yet more tariffs on roughly $267 billion of Chinese exports. They raise the cost of a product by the amount of the tariff. China has said it will respond to the next round of USA levies with retaliatory tariffs on $60 billion of U.S goods ranging from liquefied natural gas to aircraft.

Business White House adviser admits Trump got his facts wrong in economy tweet
Author: 0 White House adviser admits Trump got his facts wrong in economy tweet

Wolfers went on Twitter to provide his proof against Trump's statements, taking two full tweets to show every time the GDP growth rate was higher than the unemployment rate in the last 100 years, a total of 60 times. "From the initial fact to what the president said , I don't know the whole chain of command", Hassett told reporters on Monday . I guess I have a magic wand, 4.2%, and we will do MUCH better than this! "We have just begun", Trump tweeted.

Business British Airways to compensate customers for data breach
Author: 0 British Airways to compensate customers for data breach

However, since the breach, BA have declared that the issue has been resolved and their website is working normally. Police and relevant authorities have meanwhile been notified. " I cancelled my card as soon as I heard about the breach on the news ". It is now in damage control mode, contacting affected customers, offering compensation and carrying out internal investigations to understand how it happened.

Business Mercedes-Benz Goes Electric With New EQC
Author: 0 Mercedes-Benz Goes Electric With New EQC

By then the Model S flagship will be eight years old. "If there's no competition, where's the market going to go?" she said. The market for upscale electric cars is Tesla's to lose, with sales of its entry-level Model 3 sedan expected to reach about 50,000 cars this year and nearly double that in 2019.

Author: 0 McDonald's applauds students behind viral prank

Something tells me that this is SO good, we'll see this poster in McDonald's stores nationwide. "We were eating McDonald's one day and we looked around and saw there were posters around that didn't have any Asians", explained Jevh Maravilla, a University of Texas student.

Business Ayanna Pressley upsets Michael Capuano in race for Congress
Author: 0 Ayanna Pressley upsets Michael Capuano in race for Congress

Quentin Palfrey has won the Democratic primary for lieutenant governor in MA, ending comic Jimmy Tingle's bid to shift from political humor to political office. Sen. Elizabeth Warren , Massachusetts Democrat, cheered the outcome on Twitter on Tuesday night. She'll face Geoff Diehl, a state representative who served as co-chairman of President Donald Trump's 2016 campaign in the state and defeated two other Republicans for his party's nomination.

Business Does Donald Trump even want a NAFTA deal?
Author: 0 Does Donald Trump even want a NAFTA deal?

After four intensive days of talks in Washington between Canada and the United States, the biggest sticking points were familiar ones: USA demands for more access to Canada's closed dairy market and Canadian insistence that a trade dispute settlement system be maintained, not scrapped as Washington wants.

Business Elon Musk Won't Back Down On Cave Diver 'Pedo' Remark
Author: 0 Elon Musk Won't Back Down On Cave Diver 'Pedo' Remark

In another extraordinary tweet , replying to another Twitter user, he said: "You don't think it's unusual Unsworth hasn't sued me?" And you call yourself @ yoda ... "As this well-written article suggests, my words were spoken in anger after Mr Unsworth said several untruths and suggested I engage in a sexual act with the mini-sub, which had been built as an act of kindness and according to specifications from the dive team leader", he tweeted.

Business Oil markets muted as U.S.-China trade war remains unresolved
Author: 0 Oil markets muted as U.S.-China trade war remains unresolved

US West Texas Intermediate (WTI) crude futures were at US$68.08 per barrel, up 25 US cents, or 0.3 per cent. The U.S. dollar index against a basket of six major currencies eased on Wednesday to 95.211 after losing 0.7 percent the previous day, weighed down by U.S.

Business Longest bull market in history may still have room to run
Author: 0 Longest bull market in history may still have room to run

That represents the bottom of the 1987 bear market that began on 8/25/1987 and culminated in the low on 12/4/1987 with the S&P 500 Index down 33.51%. The ongoing spat between Donald Trump and China, which has seen both countries slap tariff on each other's product, hasn't done much in deterring the market.

Business Treasury Slaps New Sanctions on Russia, Alleging Cyber and North Korea Violations
Author: 0 Treasury Slaps New Sanctions on Russia, Alleging Cyber and North Korea Violations

South Korea is to inspect a Russian cargoship featured on a new USA blacklist for alleged trading with North Korea . Russia's Foreign Ministry denounced Microsoft's accusations in a statement and said, "It is regrettable that a large worldwide company, which has been working in the Russian market for a long time, quite actively and successfully, has to take part in a witch-hunt that has engulfed Washington ".

Business Australian PM rejects Cabinet resignations as new challenge looms
Author: 0 Australian PM rejects Cabinet resignations as new challenge looms

The ministers, who supported Mr Turnbull in a leadership ballot on Tuesday against former home affairs minister Peter Dutton , said they had changed their position and now backed Mr Dutton. The next scheduled party meeting is September 11. "It's with great sadness and a heavy heart that we went to see the Prime Minister yesterday afternoon to advise him that in our judgement he no longer enjoyed the support of the majority of members in the Liberal Party party room", Cormann told ...

Business Elon Musk Opens Up About 'Excruciating' Year
Author: 0 Elon Musk Opens Up About 'Excruciating' Year

As he explained in the interview, Musk was en route to an airport when he announced on Twitter that he was considering making Tesla a private company once more. Securities regulators have reportedly been investigating since previous year whether Tesla led investors astray about its Model 3 vehicle production problems, according to a Wall Street Journal article, citing people familiar with the matter.

Business Google not close to launching censored search engine in China
Author: 0 Google not close to launching censored search engine in China

The company left China eight years ago, under pressure from the country's censorship laws, and alleged hacking attempts by the government. China has the world's largest internet audience but USA tech firms have struggled to take off in China due to content restrictions and blockages.

Business Dollar retreats as prospect of China-U.S. trade talks soothe nerves
Author: 0 Dollar retreats as prospect of China-U.S. trade talks soothe nerves

The United States and Turkey have imposed tit-for-tat tariffs in an escalating attempt by Trump to induce Erdogan into giving up the pastor. The 3rd Penal Court in the western province of İzmir rejected the appeal on August 17, ruling for the continuation of Brunson's house arrest, as well as a travel ban imposed on him.

Business Turkish lira steady despite new threats from Trump
Author: 0 Turkish lira steady despite new threats from Trump

The Turkish lira stood at 5.80 per dollar on Friday, up about 0.4 percent against the dollar. While Turkey's economy is fairly unimportant globally, the country itself holds an important strategic position as a buffer zone between the West and the Middle East, and as such has outsized influence in foreign policy circles .

Business Trump claims tariffs on foreign nations will rescue USA steel industry
Author: 0 Trump claims tariffs on foreign nations will rescue USA steel industry

Trump tweeted. That strained relations with USA allies. But perhaps most worrying for American businesses selling in China , a significant minority of the people interviewed - 14, or 28 percent - want to stop buying American products now, and some say they are already boycotting anything made in the U.S.

Business Turkish lira weakens as US warns of more sanctions
Author: 0 Turkish lira weakens as US warns of more sanctions

Explaining the new tariffs, Turkish Vice-President Fuat Oktay said the rises were ordered "within the framework of reciprocity in retaliation for the conscious attacks on our economy by the U.S. Few saw a Bank of England interest rate hike earlier this month as a vote of confidence in the economy, since Britain's future, and access to European markets, remains in doubt.

Business China, US to hold trade talks in late August
Author: 0 China, US to hold trade talks in late August

News of the meeting gave a lift to the yuan and helped cap losses in China's stock markets. The countries imposed steep tariffs on billions of dollars of each other's exports this summer and have threatened more . side by the Treasury Department, not the U.S. Trade Representative (USTR). Washington is due to activate additional tariffs on $16 billion of Chinese goods on August 23, and Beijing has said it will respond in kind.

Business Oil up on Iran sanctions
Author: 0 Oil up on Iran sanctions

Oil prices dipped on Tuesday as rising trade tensions dented the outlook for fuel demand growth especially in Asia, although USA sanctions against Iran still pointed towards tighter supply. Hedge funds and other money managers reduced their bullish positions in US crude futures and options in the week ending 7 August, data from the US Commodity Futures Trading Commission showed on Friday.

Business Cars plunge in Italian highway bridge collapse; 20 killed
Author: 0 Cars plunge in Italian highway bridge collapse; 20 killed

But he added that they were about to launch a 20 million euro ($22.7 million) bidding process for significant safety work on the bridge. "It seemed like a scene from a film, it was the apocalypse", he added. Rescuers scoured the wreckage of Italy's bridge collapse on Wednesday (Aug 15) as the death toll climbed to 38 and the government blamed the bridge's private owner, demanding resignations and moving to strip its toll concession.

Business Saudi wealth fund PIF has shown no interest in bankrolling Tesla buyout
Author: 0 Saudi wealth fund PIF has shown no interest in bankrolling Tesla buyout

Two class actions suits have been filed against Elon Musk , the Founder and CEO of electric auto manufacturing company, Tesla Inc and the company itself. Tesla borrowed at hefty interest rates a year ago, the person said, an additional cost burden for a company that had only $2.2 billion in cash flow at the end of June.

Business Turkey tries to contain crisis but currency keeps falling
Author: 0 Turkey tries to contain crisis but currency keeps falling

Not a lot, on the face of it. "This may fuel volatility in EM assets and dampen investor sentiment in the near term, as markets are already skittish". Yet both have avoided the shellacking meted out to the Turkish lira because their central banks have shown a willingness in recent months to respond to drops in their currency (a weaker currency means higher imported inflation ) by raising interest rates.

Business Tesla's Musk Faces Class Action Suits Over Tweet
Author: 0 Tesla's Musk Faces Class Action Suits Over Tweet

The transaction would be structured with equity so as not to burden Tesla with crushing debt, Musk added. Musk's tweet announcing the deal - and a proclamation of "Funding secured" - shocked investors, and he has yet to back up his claim that he has financing for the transaction.

Business ‘Suicidal’ mechanic steals plane from Seattle airport
Author: 0 ‘Suicidal’ mechanic steals plane from Seattle airport

The hijacker has been described as a 29-year-old mechanic who worked for an "unknown airline ". The plane was taken from a maintenance position and was not scheduled for a passenger flight, said Gary Beck, Horizon Air's president and chief executive officer.

Business 25% tariff on electric bikes shipped into United States takes hold August 23rd
Author: 0 25% tariff on electric bikes shipped into United States takes hold August 23rd

The tariffs will be activated on August 23, the ministry said , the same day that the United States plans to begin collecting 25 percent extra in tariffs on $16 billion of Chinese goods . The decision follows Washington's announcement Tuesday that it will implement levies on $16 billion of Chinese products starting from the same date.

Business Musk tweets he may take Tesla private and shares roar
Author: 0 Musk tweets he may take Tesla private and shares roar

Trading was temporarily suspended, but Tesla stock closed at $379.57 (£293.33 / €327.25) which is an increase of almost 11 percent. I own about 20% of the company now, and I don't envision that being substantially different after any deal is completed.

Business China proposes retaliatory tariffs on $60B of USA products
Author: 0 China proposes retaliatory tariffs on $60B of USA products

Those tariffs have already started to affect some businesses, though only a small fraction of the USA economy is experiencing consequences. Commenting on the latest US move to add some Chinese companies into its list of entities subject to USA export controls, the MOC said that China stands firmly against US unilateral sanctions on Chinese entities.

Business Oil dented by rising tide of supply
Author: 0 Oil dented by rising tide of supply

Prices had tumbled to a six-week. Furthermore, Weekly Distillate Stocks rose by 2.983 million barrels and Gasoline inventories dropped by 2.536 million barrels, coming in above prior surveys. LONDON-Oil prices edged up Friday after a week of oscillating between steep losses and gains. The higher supplies from OPEC and Russian Federation are contributing to growing signs of a new glut in the oil market and that is adding to concern a trade war between the USA and China could curb ...

Business Iran refuses talks with U.S. under coercion
Author: 0 Iran refuses talks with U.S. under coercion

The Trump administration said it wanted Iran's oil customers to stop imports by then. Following Trump's decision to quit the historic Iran nuclear pact on May 8, the United States vowed to reimpose sanctions lifted under the accord against Iran and inflict punishments like secondary sanctions on nations that have business links with Iran.

Business U.S. job creation slows as employers scrounge for labor
Author: 0 U.S. job creation slows as employers scrounge for labor

Americans with fewer skills are also benefiting from hiring managers' desperation: The unemployment rate for those without a high-school degree fell to a record low in July. Despite many businesses' trouble finding qualified workers, they are still hiring and looking outside traditional pools for talent. The Fed left interest rates unchanged on Wednesday while painting an upbeat portrait of both the labor market and economy.

Business Bank of England Raises Interest Rates to Highest Level Since 2009
Author: 0 Bank of England Raises Interest Rates to Highest Level Since 2009

Replying to a question, Valecha said it is cheaper to get a loan in the UAE than in India despite this hike, although the US Federal Reserve is supposed to raise rates much more aggressively than the RBI. Given that a rate hike is nearly a foregone conclusion, other parts of the MPC's decisions, and the minutes of the meeting are likely to provide more intrigue.

Business Samsung Galaxy Tab S4 Features DeX for a 'PC-Like Experience'
Author: 0 Samsung Galaxy Tab S4 Features DeX for a 'PC-Like Experience'

The operating profit for the chip division accounted for 78.1 percent of the entire pie, trailed by the IT and Mobile Communications division at 17.9 percent. The mobile market condition will likely remain challenging in the second half amid pricing competition and new product launches, said Samsung. People are holding on to their high-end smartphones for longer periods of time between upgrades, Lee said, meaning fewer people are rushing out to buy flashy new models each year.

Business Elon Musk Takes on Short Sellers Ahead of Earnings
Author: 0 Elon Musk Takes on Short Sellers Ahead of Earnings

The losses were exacerbated by Tesla's 29% gains last quarter - decimating Einhorn's short position in the stock - making it his "second biggest loser" for the six-month period. Net loss attributable to common shareholders for the April-June quarter amounted to $717.5 million, or $4.22 per share, which was more than some analysts expected.

Business U.S. sanctions Turkish officials over pastor’s detention
Author: 0 U.S. sanctions Turkish officials over pastor’s detention

It said Turkey would "respond in kind without delay" against what it described as an aggressive stance by the United States. White House spokeswoman Sarah Sanders called Brunson's detention "unfair", saying that Trump had spoken with Turkey's Recep Tayyip Erdogan about the pastor.

Business Apple closes in on becoming the world's first US$1 trillion company
Author: 0 Apple closes in on becoming the world's first US$1 trillion company

Unit sales of 41.3 million fall pretty in line with Wall Street expectations (the consensus was around 41.6), but while units are up year-on-year only 1 percent, revenue over the same period is up 20 percent. It rose 31 percent compared to the same quarter previous year, putting it at $9.54 billion. Profit came in at US$2.34 per share. Apple shares rose about 3.5 per cent in extended trading on Tuesday.

Business Harley-Davidson Streetfighter Designed By Indian Designer
Author: 0 Harley-Davidson Streetfighter Designed By Indian Designer

In a bid to attract customers globally, the company is also revamping stores, partnering with online retailers and launching a 1250cc custom model, Pan America , and a middleweight 975cc Streetfighter model in 2020. In an investor communication, Harley-Davidson said, "We intend to enter into a strategic alliance in Asia to launch a 250-500cc motorcycle within 2 years in India, and into other emerging markets in Asia over time".

Business NY state revokes approval of Charter-Time Warner Cable deal
Author: 0 NY state revokes approval of Charter-Time Warner Cable deal

To obtain approval in New York, Charter agreed to extend its high-speed broadband network to 145,000 unserved or under-served homes and businesses over four years. The company said it has extended its advanced broadband network to more than 86,000 NY homes and businesses since the merger agreement and is focused on continuing that work.

Business Zuckerberg loses more than $15 billion in record Facebook fall
Author: 0 Zuckerberg loses more than $15 billion in record Facebook fall

If that loss holds through Thursday's close, he will slip to sixth place from third in the Bloomberg Billionaires Index. "There are always going to be these one-day disasters". According to techcrunch.com, it seems as if Facebook announced the stat in hopes of deflecting attention from the fact that its user count shrank in Europe and was flat in the United States and Canada, contributing to extraordinarily low monthly and daily user growth.

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