Economy


Tesla to build huge Shanghai factory - local government Tesla to build huge Shanghai factory - local government
- July 11, 2018

Tesla can start to produce and provide its vehicles for the Chinese market while Shanghai will benefit from thousands of new jobs, local companies receiving new orders from Tesla , and a general boost to the local economy any major business investment brings. (more...)
Trade war erupts as China fights back against USA tariffs Trade war erupts as China fights back against USA tariffs
- July 09, 2018

Even though neither Lu nor the Chinese Commerce ministry gave details about the scales of tariffs , Beijing has plans to slap punishing levies 545 United States products worth $34 billion a year that range from soybeans and lobsters to sport utility vehicles and whiskey. (more...)
Oil holds near $74 as Trump lambasts OPEC to temper price surge Oil holds near $74 as Trump lambasts OPEC to temper price surge
- July 09, 2018

Brent crude oil edged up Wednesday after a second consecutive drop in US crude inventories, driven by an outage at the Syncrude Canada oil sands facility, which usually supplies the U.S. The price went up when OPEC chose to cut production a year ago. As well as declines in nationwide stockpiles, inventories in the key US storage hub of Cushing, Oklahoma, shrank by 2.6 million barrels, the API was said to report. (more...)
Lopez Obrador elected Mexico’s new president with 53 per cent of vote Lopez Obrador elected Mexico’s new president with 53 per cent of vote
- July 05, 2018

Lopez Obrador - popularly known as AMLO - published a book past year that was sharply critical of Trump , fueling concern he might prove more combative with Mexico's largest trading partner. "We have to be very responsible and try to resolve the situation in Mexico", said Urzua, who describes himself, and Lopez Obrador, as fiscal conservatives. (more...)
Halting Iranian oil export is an illusion: Jahangiri
- July 05, 2018

US crude oil production stagnated for the first week in many months, reaching 10.9 million bpd in the week ending June 22, holding steady for three weeks in a row, according to the EIA. Iran is India's third-largest oil supplier behind Iraq and Saudi Arabia. And he confirmed that USA secondary sanctions on firms dealing with Iran would "snap back" on August 6 for trade in cars and metals and on November 4 for oil and banking transactions. (more...)
Trump blasts OPEC, warns European companies against business with Iran Trump blasts OPEC, warns European companies against business with Iran
- July 03, 2018

WASHINGTON-The Trump administration will consider requests for waivers from economic sanctions against Iran on a "case-by-case" basis, a senior State Department official said Monday, a step back from threats to insist on zero imports by a November 4 deadline. (more...)
Elon Musk hails Tesla reaching goal of 5000 Model 3s a week Elon Musk hails Tesla reaching goal of 5000 Model 3s a week
- July 03, 2018

To date, Tesla has sent out 28,386 copies of the Model 3 to customers, but it still has 420,000 net reservations in the queue. Explaining the cause behind a string of delays, Musk earlier this year took the blame and said that the company, at his insistence, relied too heavily upon automation. (more...)
Canada strikes back at US with tariffs Canada strikes back at US with tariffs
- July 02, 2018

The duties will be 25 percent on steel and 10 percent on everything else. Trump and Trudeau have clashed recently, with the president warning Canada will pay for it. Trump", Toronto-based trade lawyer Lawrence Herman said in a phone interview. "I think that prediction has been borne out", she said. Canada and the US are among the world's two largest trading partners with an estimated $ 673.9 billion worth of goods and services exchanged in 2017, with the US scoring a small surplus ($ 8.4 ... (more...)
Saudi King made no promises on oil production despite Trump's request Saudi King made no promises on oil production despite Trump's request
- July 02, 2018

Brent crude stood at United States dollars 79.42 a barrel, while USA benchmark crude was at USD 74.15. "It's certainly easy to imagine a scenario at this point where oil prices hit $100 again this year", said Jason Bordoff, director of the Center on Global Energy Policy at Columbia University. (more...)
More Than 400 Flights Cancelled As Volcano Forces Bali Shutdown More Than 400 Flights Cancelled As Volcano Forces Bali Shutdown
- June 30, 2018

Bali's Government Tourism Office said at 7am local time on Friday (12am BST) people living 60 to 70 kilometres away from the summit in South Bali faced no immediate threat. The Volcano Observatory Notice for Aviation continues to place the level of activity at Mount Agung at Orange, or Level III, signaling an intense increase in activity but no eruption. (more...)
United States sanctions just the beginning United States sanctions just the beginning
- June 28, 2018

But the official said that Trump administration officials have been visiting European and Asian countries to say that the USA expects their imports to be zeroed out by the time the grace period ends. This mean that the Trump administration will not allow countries to gradually phase out Iran's oil exports over the duration of many months like the Obama White House did. (more...)
Beijing Hopes US Will Treat Chinese Investments Fairly Beijing Hopes US Will Treat Chinese Investments Fairly
- June 28, 2018

The Pentagon has also protested what it says are cases of US pilots being injured by lasers, a claim that has been denied by China's foreign ministry. "China has no intention or ambition to challenge U.S. global influence". China and the European Union will exchange offers related to market access at an upcoming summit in July, Liu said Monday. (more...)
OPEC's Increased Output Helps U.S. Shale Companies OPEC's Increased Output Helps U.S. Shale Companies
- June 24, 2018

Questions over the future of OPEC production, in light of OECD crude oil stockpiles falling below the Cartel's targeted five-year averages, now lingers over the market. Up to April 2018, while oil prices increased by almost 25% compared to the same period a year ago, investment in oil industry has not picked up in a commensurate manner. (more...)
Trump threatens 20% tariffs on all European cars coming into US Trump threatens 20% tariffs on all European cars coming into US
- June 24, 2018

Earlier in the week, news reports emerged that Daimler , which produces Mercedes-Benz autos, and other German automakers were pitching a reciprocal elimination of tariffs . "By linking the threatened imposition of US tariffs to European Union tariffs imposed on USA autos, the President has both short-circuited the 232 process and conclusively undercut the stated national security rationale of that investigation", said Daniel Price, a former senior economic adviser to President George W. (more...)
Supreme Court ruling lets states collect sales tax from online purchases Supreme Court ruling lets states collect sales tax from online purchases
- June 24, 2018

IN lawmakers anticipated the ruling in 2017 when they passed a law that imposed sales tax on companies that did at least $100,000 worth of business or more than 200 separate transactions in the state in a year. The estimate tied to that bill said the state would gain between 30 and 40 million dollars a year. With the courts ruling, internet companies can now be required to collect states sales tax in states where they don't have a physical presence . (more...)
Markets Right Now: Stocks fall on fresh worries over trade Markets Right Now: Stocks fall on fresh worries over trade
- June 22, 2018

The Chinese government responded with same coin. He also stressed that the White House's broader plan to curtail President Xi Jinping's high-tech "Made in China 2025" policy could only be achieved after a long and bitter trade war . -Chinese dispute but share the complaints of their American counterparts about market barriers and unfair regulation. A rush to beat the tariffs imposed by the USA and China in the latest trade spat could spark a change in freight movements and rates. (more...)
The question marks over Trump's trade policies The question marks over Trump's trade policies
- June 20, 2018

Now, Trump has said if China does not change its "unfair practices related to the acquisition of American intellectual property and technology" new tariffs on another US$200 billion worth of Chinese goods will follow. On Wall Street, the Dow Jones Industrial Average closed down 1.1% on Tuesday. "It was a trade war that put the Great in the Great Depression". USA stocks started Tuesday's session in a sea of red after President Donald Trump threatened to place tariffs on an ... (more...)
Audi chief Rupert Stadler arrested over 'dieselgate' Audi chief Rupert Stadler arrested over 'dieselgate'
- June 19, 2018

But Dudenhoeffer said VW's supervisory board may want to reconsider its stance when it meets today. Stadler was arrested earlier today after prosecutors in Munich suggested there was a risk he might try to suppress evidence and hinder their investigation. (more...)
DOJ: Comey's handling of Clinton email investigation unconventional but not biased DOJ: Comey's handling of Clinton email investigation unconventional but not biased
- June 18, 2018

In a tweet , the president lashed out at Comey, as well as FBI agent Peter Strzok and lawyer Lisa Page, who were removed from Robert MuellerRobert Swan MuellerSasse: "US should applaud choice of Mueller to lead Russian Federation probe MORE's special counsel investigation last summer over concerns of anti-Trump bias". (more...)
To build express line to Chicago's O'Hare To build express line to Chicago's O'Hare
- June 17, 2018

We got a look at the future station at the beginning of a 17-mile system of twin underground tunnels carrying electric vehicles at speeds of up to 150 miles per hour. A lengthy write-up in The Chicago Tribune says that the total cost of the project could be around $1 billion, according to unnamed sources with knowledge on the matter. (more...)
Fed raises rates; officials boost outlook to four hikes in 2018 Fed raises rates; officials boost outlook to four hikes in 2018
- June 15, 2018

The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labour market conditions, and inflation near the Committee's symmetric 2 per cent objective over the medium term. (more...)
Comcast outbids Disney with $65 billion offer for Fox assets Comcast outbids Disney with $65 billion offer for Fox assets
- June 15, 2018

Following a federal judge's approval of AT&T's merger with Time Warner , Comcast stepped forward with a $65 billion all-cash offer for Fox , which it billed as superior to The Walt Disney Co .'s $52.4 billion all-stock bid. A judge approved AT&T 's $85.4 billion takeover of Time Warner on Tuesday, signaling that other deals could likely be approved as well. "Our proposal represents a premium of approximately 19 percent to the value of Disney's offer as of noon today". (more...)
WH Adviser Apologizes For 'Special Place In Hell' For Trudeau Remark WH Adviser Apologizes For 'Special Place In Hell' For Trudeau Remark
- June 13, 2018

Canadian Prime Minister Justin Trudeau has closed the G7 summit by stating he "won't be pushed around" by Donald Trump on trade. "And that's what bad faith Justin Trudeau did with that stunt press conference ". The president has made a lot of noise at this year's G7 event in the Quebec town of La Malbaie - first by launching a Twitter attack on Canada's trade policies before the summit and then for suggesting Russian Federation be invited to re-join the alliance. (more...)
New Tesla software to offer 'full' autonomy, Musk says New Tesla software to offer 'full' autonomy, Musk says
- June 13, 2018

Tesla's Autopilot driver assistance system has had its share of controversy, but the latest Autopilot controversy stems from a third-party accessory. " COPV [composite overwrapped pressure vessel] in place of the kid seats, which is prob wise for many reasons", Musk detailed in the first talk of the vehicle since Tesla's annual meeting last week. (more...)
The Best from The 72nd Annual Tony Awards Red Carpet The Best from The 72nd Annual Tony Awards Red Carpet
- June 11, 2018

Garfield's early victory allowed the TV broadcast to begin with a familiar face from the movie "Spider-Man", ideal for younger viewers who then got to see both Fey and a scene from her nominated musical, " Mean Girls ". The brief, nearly token, insult provoked a disproportionately strong reaction from the audience at New York's Radio City Music Hall. However, " Carousel " choreographer Justin Peck won the Tony, and cast member Lindsay Mendez won the the Tony for best supporting actress. (more...)
'We Don't Mind Being 6' Macron Says G-7 Doesn't Need US 'We Don't Mind Being 6' Macron Says G-7 Doesn't Need US
- June 08, 2018

They tellingly talked up the Canada-Europe Union trade agreement as a model for global trade that supports sustainable development, independent dispute settlement, and is already boosting trade between the partners. He told reporters: "Maybe the American president doesn't care about being isolated today, but we don't mind being six, if needs be". But he defended that approach, saying, "there is a friendship between our two peoples". (more...)
Musk keeps firm grip on Tesla as shareholders get behind boss Musk keeps firm grip on Tesla as shareholders get behind boss
- June 07, 2018

Tesla's board had recommended that shareholders re-elect all three board members, as well as reject a shareholder proposal that would have required the board chairman be an independent director. He reiterated that the company will not need to raise money this year. The shareholders he represents want Tesla to succeed, he said, "but the current board is an obstacle, not an aid, to these goals". (more...)
ASX uncertainty as United States tariffs spark global trade war ASX uncertainty as United States tariffs spark global trade war
- June 02, 2018

It represents an apparent breakdown in Trudeau's efforts to find common ground with the tough-talking president. "During an OECD trade forum in Paris on Wednesday, Mr. "To be honest with you, I wouldn't mind seeing NAFTA where you'd go by a different name, where you'd make a separate deal with Canada and a separate deal with Mexico ", Trump said. (more...)
The big Visa disruption highlights the risks of our electronic payment future The big Visa disruption highlights the risks of our electronic payment future
- June 02, 2018

A Bank of England spokesman has said they are "aware of the issue" and that they are "engaging" with Visa in order to "resolve the situation". A Visa spokesperson said: "Earlier today, Visa had a system failure that impacted customers across Europe". (more...)
Start the weekend with free doughnuts from these local shops Start the weekend with free doughnuts from these local shops
- June 01, 2018

Locally in Bryan/College Station; The Salvation Army Bryan/College Station is partnering with all Shipley Do-Nuts stores in the area to provide one free glazed donut to customers while supplies last. National Doughnut Day is celebrated on the first Friday of June of each year. They're thick-cut, fresh slices of Granny Smith apples, dipped in gourmet dark chocolate and topped with stuff like coconut shavings, colored chocolate glaze, caramelized hazlenut crunch and almonds. (more...)
Service dog gives birth to 8 puppies at Florida airport Service dog gives birth to 8 puppies at Florida airport
- May 29, 2018

Here's something you don't see every day. a two-year-old yellow lab named Eleanor Rigby - or "Ellie" for short - gave birth near gate F-80. And yes, the two women have since missed their flight to Philly. Tampa International Airport wrote on its Facebook page. The puppies' father, a service dog named Nugget, was among the onlookers at the airport. The family, puppies and all, will be driving to Philadelphia instead, about 1,000 miles. (more...)
High oil prices may spoil party for BJP in 2019 High oil prices may spoil party for BJP in 2019
- May 28, 2018

Petrol and diesel prices across the country were raised for the 15th straight day today with Oil Marketing Companies (OMCs) passing on the increase in global fuel prices to the consumers. Though UPA lost elections on several other issues in 2014, its inability to control fuel prices played a big role. "When crude prices were falling from November 2014, the repeated increase of duty was a strategic error of the government". (more...)
Energy ETFs Plunge as OPEC Looks to Higher Production Energy ETFs Plunge as OPEC Looks to Higher Production
- May 27, 2018

Saudi Arabia , Russia and the rest of OPEC "are likely this week to discuss a controlled relaxation of over-compliance with the Opec and non-Opec production-cut target", according to Argus Media. Traders are still awaiting clarity over President Trump's decision to reimpose sanctions on Iran , while the USA also took new measures against Venezuela this week. (more...)
Petrol price up by 38 paise in Thiruvananthapuram Petrol price up by 38 paise in Thiruvananthapuram
- May 27, 2018

As protests against rising petrol and diesel prices grow, the government has said that it is working on finding a "long-term solutions" . The loss of revenue and profits is the reason that there is reluctance in government to bring fuels under the GST as it will reduce the taxes that are levied these days. (more...)
Comcast Is Prepping 'Superior' All-Cash Offer for Fox Assets Comcast Is Prepping 'Superior' All-Cash Offer for Fox Assets
- May 25, 2018

While "no final decision has been made", the company said "any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney ", adding that "the work to finance the all-cash offer and make the key regulatory filings is well advanced". (more...)
Iran steps up broadsides against US, Syria signals Iran won't leave Iran steps up broadsides against US, Syria signals Iran won't leave
- May 24, 2018

Earlier this month, US President Donald Trump pulled out of the 2015 nuclear deal that lifted sanctions on Iran in exchange for curbs to its nuclear programme. exit, including steps to safeguard trade with Tehran and guarantee its oil sales. He said: "We can not let the United States flout worldwide law, their behaviour towards Iran is unacceptable". (more...)
Jared Kushner finally gets permanent security clearance Jared Kushner finally gets permanent security clearance
- May 24, 2018

He said the Kushner's application was "properly" submitted, reviewed by numerous career officials and underwent the normal process. His clearance was suspended in February, however, as the White House faced blowback over the Rob Porter scandal. (more...)
Thousands gather to remember victims of Manchester attack Thousands gather to remember victims of Manchester attack
- May 23, 2018

On May 22, 2017, Grande had just left the stage at the Manchester Arena when police say suicide bomber Salman Abedi detonated an explosive device, killing 22 people and injuring more than 100 others. The video pays tribute to the Manchester bombing victims with the image of a bee, a symbol of the city. "My heart is always going to be in Manchester, always has been and always will be". (more...)
Kroger Forms Partnership With Online Grocer Ocado Kroger Forms Partnership With Online Grocer Ocado
- May 18, 2018

Kroger shares were last up 1.6 percent on the deal , with investors reassured by the USA company saying the move would not dampen expected earnings for 2018 and 2019. The two companies are working to identify the first three sites in 2018. " Ocado has really awesome technology that works", said Ken Lonyai, Independent Consultant and Strategist, in a RetailWire discussion. (more...)
RED's hydrogen phone with full 'holographic display' set to launch RED's hydrogen phone with full 'holographic display' set to launch
- May 18, 2018

Studios in Los Angeles, June 2-3. The Red Hydrogen One phone will be available on Verizon and AT&T once it's released later this year. If you're interested, AT&T asks that you first register for the event to ensure a spot is saved for you. (more...)
Malaysia's ex-deputy premier Anwar Ibrahim released after getting full pardon Malaysia's ex-deputy premier Anwar Ibrahim released after getting full pardon
- May 17, 2018

Anwar, 70, was convicted of sodomy in 2015 in a case that he said was aimed at crushing his alliance, which was making gains against Malaysia's long-ruling coalition government. Events took a remarkable turn earlier this year, when Mr Mahathir announced he would join forces with the opposition and run for top office once again. (more...)
Elon Musk Explains Improvements to SpaceX's Falcon 9 Block 5 Rocket Elon Musk Explains Improvements to SpaceX's Falcon 9 Block 5 Rocket
- May 17, 2018

And by subscribing, you'll also receive full coverage of what's next in technology from the experts trusted by the global aerospace & defense community. With a few refurbishment, a Block 5 initial stage ought to have the ability to start 100 occasions, Musk said. The new Falcon 9 Block 5 is specifically designed for reusability, with the rocket designed for quick re-launch with only inspection and no reconditioning, and-with some routine component replacements-are designed for hundreds of ... (more...)
Wall Street drops on concerns over US-China trade woes, rising inflation Wall Street drops on concerns over US-China trade woes, rising inflation
- May 16, 2018

Smaller rival Lowe's Companies Inc was down 1.0%. Stocks are opening moderately higher on Wall Street, led by gains in technology, health care and energy companies. The dollar rose to 110.38 yen from 109.66 yen late Monday. The greenback's gains weighed on precious metals prices. The biggest drags on the sector were Kinross Gold Corp., which fell 2.5 per cent, and Barrick Gold Corp., which dropped 1.9 per cent. (more...)
Uber will no longer force victims of sexual assault into private arbitration Uber will no longer force victims of sexual assault into private arbitration
- May 16, 2018

A CNN investigation revealed at least 103 Uber drivers in the US were accused of sexually assaulting or abusing passengers in the past four years. As part of its investigation , CNN also contacted more than 20 police departments to obtain data on complaints that involved Uber and Lyft drivers and sexual assault. (more...)
Walmart may launch Flipkart IPO in as early as 4 years Walmart may launch Flipkart IPO in as early as 4 years
- May 15, 2018

The Flipkart share purchase deal is likely to close by 9 March 2019. Furthermore, Walmart has shed some light on its plans to come out with an initial public offering (IPO) for Flipkart . Dutta. Elaborating on the deal, Walmart Inc said the Flipkart board will initially have eight directors: five Walmart-appointed, two appointed by certain minority shareholders and one founder. (more...)
Why Ford Has Stopped Production of America's Best-Selling Pickup Why Ford Has Stopped Production of America's Best-Selling Pickup
- May 11, 2018

Earlier this week, the United Auto Workers union warned workers who assemble the F-150 at the Dearborn truck plant that production could be stopped later this week. As production is hobbled, Ford could face a shortage for its best-selling and most profitable truck. It's the best selling vehicle in the country, and now that Ford is in the middle of an $11 billion cost-cutting initiative, shutting down the F-150 plants a devastating blow. (more...)
Saudi Arabia wants nuclear bombs if Iran restarts its weapons programme Saudi Arabia wants nuclear bombs if Iran restarts its weapons programme
- May 10, 2018

U.S. President Donald Trump announced Tuesday the United States will pull out of the 2015 nuclear agreement, vowing to re-impose nuclear-related economic penalties on Iran . In effect, the United States agreed to implement tough sanctions , and Saudi Arabia agreed to limit the impact on oil prices. "At the heart of the Iran deal was a giant fiction - that a murderous regime desired only a peaceful nuclear energy program". (more...)
Japan's biggest ever deal: Takeda buys Shire for $62 billion Japan's biggest ever deal: Takeda buys Shire for $62 billion
- May 09, 2018

Takeda confirmed its pursuit of Shire in late March. Takeda's board members have approved the details of the acquisition plan that the company will formally propose to Shire , according to sources. The combined company will be headquartered in Japan , but Takeda said it will boost its research and development presence in the Boston area, where both companies have sites. (more...)
Man eats his 30000th Big Mac Man eats his 30000th Big Mac
- May 07, 2018

Having now eaten 30,000 over the past 46 years, that means on average Gorske eats 1.8 Big Macs per day for four-and-a-half decades. A pamphlet chronicling Gorske's hamburger habit offers a hint of why he's so devoted, according to Detroit television station WXYZ. (more...)
Cosby victim of mob justice, claims wife Cosby victim of mob justice, claims wife
- May 05, 2018

Camille Cosby , 74, said chief accuser Andrea Constand was a liar whose testimony about being drugged and molested at Cosby's home in January 2004 was "riddled with innumerable, dishonest contradictions". "If they can do this to Mr. Cosby, they can do so to anyone", she said. "Since when are all accusers truthful?" she wrote . A more recent example is the case of Darryl Hunt, an African American who in 1984 was wrongfully convicted for the rape and murder of a white woman, only to have ... (more...)

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