Business

Oil prices chart new territory on supply-side concerns

Oil prices chart new territory on supply-side concerns Tehran blames rising prices on US sanctions imposed on Iran and Venezuela , founding members of the cartel. A survey of analyst expectations from S&P Global Platts revealed expectations of a drain on US crude oil inventories of 4.5 million barrels last week, adding support to the concerns about a market deficit. [Full Article...]

Sizing up the global and domestic impact of China tariffs

Sizing up the global and domestic impact of China tariffs Washington's targets for higher border taxes focus on industrial components like PC parts, fuel pumps, construction equipment and autos, according to trade data firm Panjiva. "Counterstrike is major economies' first reaction to Washington's trade war", it said in its editorial. "It is totally within the scope of duty of the Chinese Embassy and consulates in the U.S.to issue such travel alert". [Full Article...]

Canada tariffs on US goods start

Canada tariffs on US goods start Many of the U.S. products were chosen for their political rather than economic impact. "If he can say, 'We've reached some kind of an agreement or framework where we can build more cars, build more American parts in North America, in the United States, ' that's a great sign to his voters about more jobs", Ambrose said. [Full Article...]

Want a replica LeBron James Lakers jersey? That'll be $75

Want a replica LeBron James Lakers jersey? That'll be $75 The Celtics come out of the weekend sitting third on the National Basketball Association championship odds at +510, well ahead of the 76ers, who have tumbled to +1425 after failing to attract James to the City of Brotherly Love, while the Cavaliers have made a massive drop to a distant +50000. [Full Article...]

European Union warns Trump against imposing tariffs on auto imports

European Union warns Trump against imposing tariffs on auto imports The EU responded to the steel and aluminum tariffs with "rebalancing measures" that hit around $3.25 billion worth of American-made products. Meanwhile, the European Union argued that the US's comparably low auto import tariff was countered by higher rates on other vehicles, such as lorries. [Full Article...]

Mexican peso falls as AMLO's victory sparks uncertainty over Mexico's economy

Mexican peso falls as AMLO's victory sparks uncertainty over Mexico's economy Pena Nieto said Sunday that the vote "should reaffirm us in our democratic vocation". In June, Obrador called for a flood of immigrants to enter the U.S.to protest the border crisis and claim their "human right". He proposes paying low-income college students a $120 monthly allowance and setting up apprenticeships for students that would pay $180 a month. "The people are fed up", Zuniga sa... [Full Article...]

Halting Iranian oil export is an illusion: Jahangiri

Shortly after, the White House backtracked on Trump's statement, saying that Riyadh is ready for measures aimed at stabilizing the oil market. "Don't forget the one negative to the Iran deal is that you lose a lot of oil, and they got to make up for it. [Full Article...]

‘Impeach 45' apparel at Walmart sparks calls for boycott

‘Impeach 45' apparel at Walmart sparks calls for boycott This is not the first time Walmart has gotten into some hot water for a t-shirt offered for sale. Sellers do need to apply to be able to list their items. These marketplaces are a vital source of revenue for retailers. The items, sold by third-party seller Old Glory , have since been removed from the website. [Full Article...]

Amazon Prime Day is happening July 16th

Amazon Prime Day is happening July 16th Among them, a Fingerlings unicorn doll whose horn lights up and a Delta kitchen faucet that can be turned on through Amazon's Alexa voice assistant. Prime Day will start on 16 July at 21:00 SA time, and will run for 30 hours. Members will also receive exclusive in-game prizes for Warframe and PLAYERUNKNOWN'S BATTLEGROUNDS . [Full Article...]

European Union warns Donald Trump he risks $294bn trade tariff reprisals

European Union warns Donald Trump he risks $294bn trade tariff reprisals Trump has singled out the Europeans as a problem as great to the USA on trade as China and laid out threats to fight the EU with a 20 percent duty on EU auto imports, a particular source of his scorn. But he lifted the exemptions the same week he met with Group of Seven leaders in Quebec last month. Retaliatory tariffs would cost billions and kill thousands of jobs. [Full Article...]

United States wants to reduce Iran's oil revenue to zero

United States wants to reduce Iran's oil revenue to zero Oil production, prices and politics require a delicate balance. An Indian official says his country, which imports 400,000 barrels per day of Iranian crude, would only recognise multi-lateral sanctions, rather than unilateral sanctions. and surely one day it will pay the price of this treason", he said . The issue is of concern as crude oil prices hit four-year highs. "We have Plan B, Plan ... [Full Article...]

Tesla hits Model 3 weekly production goal for first time

Tesla hits Model 3 weekly production goal for first time The deposit amount varied depending on your country; for example, it was $1000 in the United States, but £1000 in the UK. The company must still demonstrate that 5,000 units can be produced each consecutive week, paving the way for further increases as the Model 3 approaches full global availability. [Full Article...]

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

‘Miraculous’: Cruise ship rescues crew member who went overboard near Cuba Both the Glory and the Getaway were on cruises out of Miami . A spokesperson for Carnival Cruise Line - the owners of Norwegian Getaway - described the man's survival as "miraculous". According to the Coast Guard, the crews searched a combined 1,630 square miles. The large cruise ship is staffed with more than 1,500 crew members and can accommodate almost 4,000 guests. [Full Article...]

Amazon is helping entrepreneurs start delivery companies for its packages

Amazon is helping entrepreneurs start delivery companies for its packages Amazon's new "Delivery Service Partners" and their staff members won't be employed by the tech company. To help keep startup costs as low as $10,000, entrepreneurs will also have access to a variety of exclusively negotiated discounts on important resources they'll need to operate a delivery business. [Full Article...]

Donald Trump, Saudi king discuss oil markets, no mention of production plans

Donald Trump, Saudi king discuss oil markets, no mention of production plans Saudi Arabia on Saturday confirmed that United States President Donald Trump and its King Salman have spoken about the stability of the oil markets, but made no mention of any deal for Riyadh to boost production. Washington said last week it was asking customers in Asia and Europe to reduce Iranian oil purchases to zero from November, and that it will not grant any waivers to sanctions. [Full Article...]

China tries to defuse trade pressure, says world benefits

China tries to defuse trade pressure, says world benefits European shares, meanwhile, fell 0.5 percent to the lowest since April 12. France's CAC 40 was 0.2 percent higher at 5,291. The Dow Jones industrial average lost 0.7 percent to 24,117.59. TECH DOWNTURN: Eyes will be on US technology stocks, which had tumbled Monday on reports that the Trump administration plans to limit exports of some high-tech products to China, and also limit investment in te... [Full Article...]

Congress mocks PM over Rupee fall, Swiss deposits

Congress mocks PM over Rupee fall, Swiss deposits Despite the decline, the money held by Pakistani nationals and entities remains above that of Indians, which rose by over 50 percent to CHF 1,015 million (about Rs 7,000 crore) in 2017 after three consecutive years of decline. India would start getting details of bank accounts from Switzerland under a bilateral treaty, he said. This reverses a three-year downward trend amid the Centre's clampdown ... [Full Article...]

Kicked Out Of Toys R Us On Its Last Day?

Kicked Out Of Toys R Us On Its Last Day? Toys "R" Us filed for Chapter 11 bankruptcy protection in September hoping to restructure some US$5 billion (S$6.8 billion) in debt, much of which stemmed from a US$6.6 billion leveraged buyout by private equity firms in 2005. "Because we were forced to liquidate the USA business, we were not able to follow the normal severance process", said a Toys "R" Us spokesperson earlier this month. [Full Article...]

Indian rupee hits all-time low vs US dollar

Indian rupee hits all-time low vs US dollar Other pressures aggravating as a result of declining value of rupee is increased selling in the bond markets. India is more vulnerable than some others owing to its so-called twin deficits: a current account deficit and a fiscal deficit, both of which need financing. [Full Article...]

Bali airport closes as Mount Agung volcano spews ash, smoke

Bali airport closes as Mount Agung volcano spews ash, smoke Bali's main worldwide gateway will be closed until at least Friday evening, according to officials, who added that two other domestic airports were also shut. According to a report, the Disaster Mitigation Agency stated that the airport closure will begin from June 29, 2018, until the situation gets normal. [Full Article...]


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