President Trump Threatens 20% Tariff on All European Union Autos

Trump posted his threat on Twitter the day European Union reprisals took effect against US tariffs on European steel and aluminum. Canada has also threatened to impose retaliatory tariffs on $12.5 billion worth of US exports, starting July 1... More..

by | Published more than a month ago
Above $74: Brent oil rises by $1 ahead of OPEC decision
by | Saturday, June 23, 2018

Above $74: Brent oil rises by $1 ahead of OPEC decision

Ecuador said Opec and its allies could agree to a compromise increase in output of around 0.5-0.6 million bpd. "It wasn't a good meeting", Iranian Oil Minister Bijan Namdar Zanganeh told reporters. Iran has...More..

Marijuana to be legal in Canada as of October 17
by | Saturday, June 23, 2018

Marijuana to be legal in Canada as of October 17

With the federal government having now decided on an opening day for Canada's legal rec marijuana business, we should expect the provincial supply agreements to come fast and furious, says Jason Zandberg,...More..

Saudi regulator expects $40 billion foreign fund inflows after MSCI
by | Saturday, June 23, 2018

Saudi regulator expects $40 billion foreign fund inflows after MSCI

Both countries are now expected to benefit from investment from some of the world's largest fund managers as a result of the upgrades. In May, MSCI said the recent market rout would make it more hard to deter...More..

European Union to impose duties on U.S. imports on Friday after Trump tariffs
by | Friday, June 22, 2018

European Union to impose duties on U.S. imports on Friday after Trump tariffs

Cecilia Malmstrom, the EU's trade commissioner, acknowledged that the European Union had targeted some iconic American imports for tariffs, like Harley-Davidson motorcycles and bourbon, to "make noise" and put ...More..

by | Friday, June 22, 2018

Saudi oil minister proposes to increase supply by 1 million barrel

Iran's oil minister walked out of an OPEC meeting to increase the supply of crude. The policy that has propelled the Nigerian economy upward since January 2017 might be maintained, as Saudi Arabia is cons...More..

European Union tariffs on United States goods come into force
by | Friday, June 22, 2018

European Union tariffs on United States goods come into force

The European Union slapped revenge tariffs on iconic USA products including bourbon, jeans and motorcycles on Friday in its opening salvo in a trade war with President Donald Trump . "This response by the Eu...More..

Looming Trade War Could Hurt US-China Cooperation On North Korea
by | Thursday, June 21, 2018

Looming Trade War Could Hurt US-China Cooperation On North Korea

Last week, he announced 25 per cent tariffs on $50 billion in Chinese imports, prompting Beijing to retaliate with matching duties on USA goods. Traders are showing growing concerns about the escalating tra...More..

Could China turn to Iran oil? Former Exxon president weighs in
by | Thursday, June 21, 2018

Could China turn to Iran oil? Former Exxon president weighs in

Saudi Energy Minister Khalid Al-Falih said Thursday that OPEC members and other countries who agreed in November 2016 to cut output should increase supply by about one million barrels per day to prevent a short...More..

Hackers steal $32 mln from cryptocurrency exchange Bithumb
by | Thursday, June 21, 2018

Hackers steal $32 mln from cryptocurrency exchange Bithumb

Hackers stole more than $30 million worth of cryptocurrencies from South Korea's top bitcoin exchange, sending the unit's price falling around the world on Wednesday. Bithumb is, however, the bigger of the...More..

Trump's latest tariff threat draws retaliation warning from China
by | Thursday, June 21, 2018

Trump's latest tariff threat draws retaliation warning from China

President Trump said Tuesday that China's economic exploitation of the US left him with "no choice" but to hit Beijing with tariffs , while the Chinese government warned that it will retaliate for Mr. "I...More..

Disney Just Upped Its Bid For 21st Century Fox Deal
by | Wednesday, June 20, 2018

Disney Just Upped Its Bid For 21st Century Fox Deal

Part of the business will be used to create an entity called "New Fox ", which will include the highly lucrative Fox News, the sports channels FS1 and FS2, and the Fox broadcasting channel. "The acquisition of...More..

Escalating trade war between US & China sends shock waves through markets
by | Tuesday, June 19, 2018

Escalating trade war between US & China sends shock waves through markets

Most of that trade is in goods - not services - and most of it flows from China to the United States. According to a report in Monday's New York Times , in the midst of the escalating trade war rhetoric ...More..

Elon Musk says Tesla is a victim of
by | Tuesday, June 19, 2018

Elon Musk says Tesla is a victim of "extensive" sabotage

Musk said in the email, which was seen by Reuters , that he had learned of this alleged behaviour at the weekend. The CEO, who warned that there may be "considerably more to this situation than meets the eye"...More..

Don't Panic: Here's Why Trump's China Trade War Won't Happen
by | Tuesday, June 19, 2018

Don't Panic: Here's Why Trump's China Trade War Won't Happen

China's government has denounced President Donald Trump's threat of tariffs on $200 billion of Chinese goods as blackmail and warned it would respond with "strong countermeasures". Beijing reciprocated w...More..

by | Tuesday, June 19, 2018

Bavaria piles pressure on Merkel for European Union migrant deal to avert crisis

Interior Minister Horst Seehofer is calling for Germany to turn back at its border migrants who have registered as asylum-seekers in other European countries. It's the first time Trump has openly criticised G...More..

Trump prepares to slam China with US$200 billion in new tariffs
by | Tuesday, June 19, 2018

Trump prepares to slam China with US$200 billion in new tariffs

President Trump directed the U.S. Trade Representative to prepare new tariffs on $200 billion in Chinese imports Monday as the two nations moved closer to a potential trade war. As late as May 20, US Treasury ...More..

U.S. tariffs on China won't affect your phones or TVs
by | Tuesday, June 19, 2018

U.S. tariffs on China won't affect your phones or TVs

The U.S. tariffs are in addition to previously announced duties on imports of steel and aluminum from several countries, including China. Among the affected $16 billion in USA goods include crude oil, natur...More..

MERKEL’S MESS: Germany’s Leadership Hangs in the Balance Over Refugee Policy
by | Monday, June 18, 2018

MERKEL’S MESS: Germany’s Leadership Hangs in the Balance Over Refugee Policy

On July 1, after the completion of a two-day European Union summit, Merkel will meet with the CDU executive to discuss next steps, the chancellor said Monday. Merkel has cautiously come around in recent weeks...More..

Audi CEO arrested in Germany over diesel scandal
by | Monday, June 18, 2018

Audi CEO arrested in Germany over diesel scandal

Audi responded by insisting there was a presumption of innocence in the allegations. It may be noted that this probably the biggest arrest in the Dieselgate scandal that shook the operations of German auto ...More..

by | Monday, June 18, 2018

Audi CEO Rupert Stadler detained in diesel emissions case, reports say

The Volkswagen emissions scandal began in September 2015, when the United States Environmental Protection Agency (EPA) issued a notice of violation of the Clean Air Act to German automaker Volkswagen Group. At ...More..

Trump imposes 25 per cent duties on $50bn worth of Chinese goods
by | Sunday, June 17, 2018

Trump imposes 25 per cent duties on $50bn worth of Chinese goods

Late on Friday, China said it would impose additional 25 percent tariffs on 659 US goods worth $50 billion, in response to the USA imposition of tariffs . Beijing also drew up a second list of $16 billion ...More..

Can Donald Trump Lower Gas Prices? President Lashes Out at OPEC
by | Sunday, June 17, 2018

Can Donald Trump Lower Gas Prices? President Lashes Out at OPEC

OPEC flows were already higher in May, led by Saudi Arabia , the IEA said , adding that the oil kingpin was still in compliance with the Vienna deal caps. "With rising production from US shale adding to oil...More..

EUR/USD Rate Outlook Mired by ECB’s Zero Interest Rate Policy (ZIRP)
by | Sunday, June 17, 2018

EUR/USD Rate Outlook Mired by ECB’s Zero Interest Rate Policy (ZIRP)

Analysts said that although the expected announcement would probably not be a total surprise to markets - an initial list was released by Washington a few months ago - it would still make investors concerne...More..

by | Friday, June 15, 2018

McDonald's Ditching Plastic Straws Later This Year in US

The Government has unveiled plans that could see plastic straws, drinks stirrers and cotton buds completely banned from sale in England . This decision follows a successful trial in selected restaurants ea...More..

Kellogg's recalls Honey Smacks cereals over salmonella fears
by | Friday, June 15, 2018

Kellogg's recalls Honey Smacks cereals over salmonella fears

The cereal has a "best by" date from June 14, 2018 to June 14, 2019. The smaller box of the sugary cereal has a UPC code 3800039103 while the bigger package has a UPC code of 3800014810. The 23.0 ounce box ha...More..

Average worker can't afford 2-bedroom apartment anywhere in US, report says
by | Friday, June 15, 2018

Average worker can't afford 2-bedroom apartment anywhere in US, report says

That's over $10 more than the federal minimum wage of $7.25. Only registered nurses ($30.59) and customer-service representatives ($15.34) offer a housing wage, and customer-service representatives barely mak...More..

China-US trade standoff heats up again
by | Friday, June 15, 2018

China-US trade standoff heats up again

The officials spoke on condition of anonymity in order to discuss the matter ahead of a formal announcement. Washington has also completed a second list of possible tariffs on another US$100 billion in Chin...More..

Loop to O'Hare in 12 minutes: Elon Musk gets the job
by | Friday, June 15, 2018

Loop to O'Hare in 12 minutes: Elon Musk gets the job

Elon Musk's venture was picked to finance and build an express train from the downtown Loop neighborhood to Chicago's O'Hare International Airport, Mayor Rahm Emanuel announced . The tunnels may end up belon...More..

Mercedes recalls hundreds of thousands of diesel cars over emissions
by | Thursday, June 14, 2018

Mercedes recalls hundreds of thousands of diesel cars over emissions "defeat devices"

As part of the German recall, engine software will be upgraded in Vito vans as well as the GLC Sports Utility Vehicle (SUV) and the popular C-Class. This week Dr Zetsche claimed Daimler had found a techni...More..