Markets

Brexit vote: Government defeats EU customs union bid

Brexit vote: Government defeats EU customs union bid The vote also demonstrated the vital importance of the four or five Labour Brexiteers who have repeatedly defied their own party whip and voted with the government. Two top pro-Brexit ministers, Boris Johnson and David Davis , quit in protest last week, and a string of junior walkouts have followed suit - including two more officials on Monday. [Full Article...]

Ban on Chinas ZTE lifted

Ban on Chinas ZTE lifted The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a USA bank escrow account as part of a settlement reached last month. Shares of US suppliers Acacia Communications and Lumentum Holdings rose more than 3 percent on the news before ending less than 1 percent higher. The company, which employs some 80,000 people, got a limited... [Full Article...]

Trade War- US slaps more tariffs on $200b Chinese goods

Trade War- US slaps more tariffs on $200b Chinese goods While some USA companies and lawmakers have criticized Trump's tactics, Gao's statement was an unusually direct attempt to rouse domestic American opposition. The Chinese side insisted on not firing the first shot, and was forced into taking reciprocal countermeasures after the United States first started the trade war. [Full Article...]

Murdoch's Fox cleared for Sky takeover bid

Murdoch's Fox cleared for Sky takeover bid Comcast faces a deadline of Friday to put its offer to Sky shareholders. Britain finally cleared Rupert Murdoch to buy Sky on Thursday, removing the final obstacle to a head-to-head battle between Murdoch's Twenty-First Century Fox and USA rival Comcast for the European pay-TV prize. [Full Article...]

Oil drops 1.6%, settling at $72.94, after rise in United States crude stockpiles

Oil drops 1.6%, settling at $72.94, after rise in United States crude stockpiles The U.S. government plans to shut Iran's oil exports out of the market from November, demanding that all countries stop buying its oil. "If Trump continues to believe that OPEC are not doing enough, we would not rule out a SPR (Strategic Petroleum Reserve) release from the USA, or possibly even export restrictions on petroleum products", ING said , in a note. [Full Article...]

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

At the same time, the unemployment rate rose to 4 per cent from 3.8 per cent, the government said Friday, as more people began looking for a job and not all of them found one. "Consumer perceptions of the labor market also remain near multi-decade highs". It had declined for three months in a row. But retailers cut 21,600 jobs last month, after boosting payrolls by 25,100 in May. [Full Article...]

China says the "largest trade war in economic history" just began

China says the Beijing has vowed to immediately respond with an equal amount of tariffs of its own against USA autos , agricultural and other products, but it was unclear how swiftly the actions could escalate into an all-out trade war . The US trade deficit in goods with China ballooned to a record $375.2 billion a year ago, further stoking Trump's ire. As for the wider aspect, analysts expect this first... [Full Article...]

China issues warning for citizens travelling to US

China issues warning for citizens travelling to US Here's a look at what's happening this week and its likely impact. "U.S. government facilities worldwide remain in a heightened state of alert", the caution said. "While the Trump administration is anxious about gains and losses, Chinese people have unfaltering confidence in China's future". Implementation is set to start at midnight June 6 in both countries, which gives Beijing a 12-hour ad... [Full Article...]

China issues U.S. travel warning amid trade tensions

China issues U.S. travel warning amid trade tensions A European diplomat said: "China wants the European Union to stand with Beijing against Washington, to take sides". "We put a halt on all investment, not just because we will be losing money, but because we don't know if growing in the USA is the right move if we won't be an exporting country", Ken Maschhoff, co-owner of the country's largest family-owned pork producer, told CNBC . [Full Article...]

China should take "self-defence measures" in trade war

China should take China should take "self defence measures" against USA tariffs by offering subsidies to companies and industries that may suffer losses from trade frictions, the Global Times said on Wednesday. The Russell 2000 index picked up 0.7 percent to 1,668.53. Currencies: The dollar fell to 109.92 yen from 110.03 yen. The central parity rate of the yuan against the US dollar is based on a weighted avera... [Full Article...]

Tesla Shocks Markets: Achieves Model 3 Production Target

Tesla Shocks Markets: Achieves Model 3 Production Target No standard automotive solution could be built in time , so we created a new solution. With the 5,000/week threshold now in the books, and with Tesla now claiming that a production rate of 6,000 Model 3 units per week will be hit later this month, Tesla investors certainly have much to cheer about. [Full Article...]

Amazon Is Drafting Entrepreneurs to Help It Win the Delivery Wars

Amazon Is Drafting Entrepreneurs to Help It Win the Delivery Wars Amazon said it was also committing $1 million toward funding startup costs for military veterans, offering $10,000 reimbursements for qualified candidates to build their businesses. The new program goes a huge step beyond the gig economy side-hustle that is Amazon Flex . Last-mile delivery is among the retail industry's biggest challenges as customers increasingly expect quick and cheap deli... [Full Article...]

Amazon To Buy Somerville-Based Online Pharmacy PillPack

Amazon To Buy Somerville-Based Online Pharmacy PillPack Founded in 2013, Boston-based PillPack is an online pharmacy that ships pre-packaged doses of medication straight to customers' doors. Amazon's acquisition of PillPack follows a larger-though less defined-move into the healthcare sector for the online giant. [Full Article...]

FACT CHECK: Did Harley Davidson's CEO Call President Trump 'a Moron'?

FACT CHECK: Did Harley Davidson's CEO Call President Trump 'a Moron'? Then it appeared as if Harley-Davidson's chief executive was punching back with a quote disparaging Trump. In a series of caustic early-morning tweets Trump dismissed any notion that his policies were responsible for Harley-Davidson's move. [Full Article...]

Turkey goes to the polls in crucial election

Turkey goes to the polls in crucial election Erdogan won 52.5 percent in the presidential poll while Ince, of the secular Republican People's Party (CHP), was at 31.5 percent, state-run Anadolu news agency said , based on a 99 percent vote count . Under the new system, Erdogan will appoint ministers, vice presidents and high-level bureaucrats, issue decrees, prepare the budget and decide on security policies. [Full Article...]

Social media reacts to the elections — Turkey on Twitter

Social media reacts to the elections — Turkey on Twitter Mr Erdogan was declared Turkey's president by electoral board chairman Sadi Guven, who said he won a majority based on 99.9 percent of counted votes. According to Israeli newspaper Haaretz , Erdogan and his AKP party "used state resources to ensure victory" adding that "the media is nearly totally pro-Erdogan after years of co-option and censorship". [Full Article...]

Trump threatens new tariffs on European cars after EU retaliates

Trump threatens new tariffs on European cars after EU retaliates The European Union on June 22,2018, slapped 25 per cent duty on a range of USA imports, including Harley-Davidson motorcycles, in retaliation for the Trump administration's new tariffs on EU metal exports. Canada said its tariffs of up to 25% on almost $13 billion of American products will take effect on July 1. Trump has often complained about the 10 percent tariff the European Union imposes on... [Full Article...]

Amazon Prime Day 2018: When is it?

Amazon Prime Day 2018: When is it? While TV deals and the Echo products will be front and center, Amazon will have just as many deals that include home goods ranging from sheet sets to pillows and even the top chef knife deal of the entire year. In the past, it was very much a case of taking a quick look at the site and seeing if a Prime Day offer grabbed your attention. Pocket-lint will be trawling Amazon's pages throughout th... [Full Article...]

European Union retaliatory tariffs on USA products to come into effect on Friday

European Union retaliatory tariffs on USA products to come into effect on Friday According to the China Daily , the U.S. is trying to preserve the global economic system, which is working to America's benefit. Richard Grenell, U.S. For that reason, even many Republicans have opposed the idea of a trade war with China. The fear is that a trade war could disrupt supply chains for the technology and auto industries - sectors heavily reliant on outsourced components such a... [Full Article...]

Online tax ruling could mean $20M for NM

But now he does. Forty-five of the 50 states impose sales taxes. "That's because local politicians desperate to find money to improve schools, roads and law enforcement will look for outside their borders to find it", he said . It will eliminate the unfair disparity between locally owned retailers and their online competitors. At issue was the Quill Corp. v. South Dakota taxes most produc... [Full Article...]