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Economy

ASIA'S DAY: Asian markets tumbled in the morning as back-and-forth exchanges over looming U.S. tariffs added to worries over the trade war brewing between China and the U.S. Beijing's target list of USA goods to penalize is heavy on agriculture. Whle tariffs could jeopardize $47 million in exports to China, the U.S. Chamber said, Pascrell said China's unfair practices have cost millions of American jobs.
  • Upping ante, Trump threatens new tariffs on Chinese imports

    Upping ante, Trump threatens new tariffs on Chinese imports

    Economy

    ASA is disappointed and highly concerned that trade tensions continue to ratchet up rather than deescalate between the two countries and that its repeated requests to the Administration for a non-tariff solution that does not threaten the market stability and livelihoods of soy growers has not been put forward.
  • China: ‘Capricious’ trade policies will hurt United States workers

    China: ‘Capricious’ trade policies will hurt United States workers

    Economy

    The European Union slapped revenge tariffs on iconic U.S. products including bourbon, jeans and motorcycles on Friday in its opening salvo in a trade war with President Donald Trump . India raised tariffs on a slew of items in retaliation for the USA imposing higher levies on some products shipped from the South Asian nation, echoing steps taken by China , the European Union and other trading partners.
  • OPEC oil ministers gather to discuss production level

    OPEC oil ministers gather to discuss production level

    Economy

    Fears over the escalating US-China trade war continue to depress the United Kingdom stock market, while the pound fell over Brexit concerns and oil slipped further ahead of a key Opec meeting this week. On the positive side, there are various factors that are supporting crude oil prices. "They've tried to cut inventories on a global basis back in line with this five-year average".
  • Global stocks sink after Fed hike signal, eyes turn to European Central Bank

    Global stocks sink after Fed hike signal, eyes turn to European Central Bank

    Economy

    Chinese stocks led the losses, with the benchmark Shanghai Composite index plumbing a 20-month low, as investors anxious about the economic damage from the trade tensions with the United State. It also said it plans to hold off on raising interest rates until at least the summer of 2019, which is longer than some investors expected. A broader slowdown could make it harder for the ECB to cut support if lower growth eases pressure on inflation, a threat to the bank's credibility as it has ...
  • Meow! Restaurants launch Twitter war with IHOP (now IHOB)

    Meow! Restaurants launch Twitter war with IHOP (now IHOB)

    Economy

    The move sent pancake breakfast lovers into a furore and sparked snarky broadsides from rivals already deeply rooted in the hamburger business. "Now, we're flippin' our name to IHOb ". The wait is nearly over! - today, we find out what the mysterious "B" is all about in Ihop's name change. And though a juicy cheeseburger may still be top of mind when you think of Wendy's, the company's social media chops have caught the attention of many a Twitter user .
  • North Korean leader Kim Jong Un’s cargo plane bound for Singapore

    North Korean leader Kim Jong Un’s cargo plane bound for Singapore

    Economy

    Even now you can get a sense of the tension that has simmered since 1953 by visiting the dividing line within the Demilitarized Zone, near where the armistice was signed. "We're going to raise every issue, every issue will be raised", he said. "People don't know much about him". It is hard to credibly suggest progress on weapons proliferation can be durable or verifiable if North Korea remains a completely closed and totalitarian state .
  • NTSB releases preliminary report on fatal Model X crash

    NTSB releases preliminary report on fatal Model X crash

    Economy

    Earlier today, the NTSB published its preliminary report on the events surrounding the fatal crash. The vehicle crashed into a highway barrier in Mountain View, California. Tesla's Autopilot is a driver assistance system that handles some driving tasks and allows drivers to take their hands off the wheel. A second later, the SUV began a "left steering movement" while still following the other vehicle.
  • Microsoft's Data Centre Willingly Gets in the Sea

    Microsoft's Data Centre Willingly Gets in the Sea

    Economy

    Project Natick will stay submerged for five years if all goes to plan. Project Natick is now in its second phase, in which the data center is still physically hooked up to an onshore, renewable power source. This week a group of researchers deployed the first working production data center 117 feet below the surface of the sea, where it is created to work without the need for maintenance for five years.
  • Trump to stick with hard line on trade as G7 showdown looms

    Trump to stick with hard line on trade as G7 showdown looms

    Economy

    Mexico has published the tariffs it is imposing on products imported from the United States in response to the Trump administration's duties on Mexican steel and aluminium. The move follows a USA decision to impose tariffs on imports of Mexican steel and aluminum purchases, which took effect on Friday. Those discussions are likely to focus on Trump's decision last week to impose punishing tariffs on imports of steel and aluminum from Washington's closest allies, including Canada, the ...
  • Oil poised for weekly loss as record output weighs

    Oil poised for weekly loss as record output weighs

    Economy

    Demand for the motor fuel over the past four weeks rose 0.8 percent year-on-year ahead of the Memorial day weekend which marks the official start to the summer driving season in the United States. According to statistics from the newly-released OPEC's Monthly Oil Market Report, MOMR, for May released on Monday, Bonny Light climbed from $67.05 in March to $72.75 in April, making it an 8.5 percent increase in price.
  • Trump appears to comment on jobs report before its official release

    Trump appears to comment on jobs report before its official release

    Economy

    The Department of Labor reported at 8:30 a.m. that unemployment in the USA had dropped to its lowest level since 1969 as the economy added a higher-than-expected 223,000 jobs in May. Former chairman for President Obama's Council of Economic Advisers Jason Furman disagreed. They said we don't make things in America anymore, because the Chinese will do it at slave labor rates.
  • Yum! Where to get free doughnuts, deals on National Doughnut Day

    Yum! Where to get free doughnuts, deals on National Doughnut Day

    Economy

    Friday as the brewery showcases its coffee porter. Those who stop by a participating location on National Donut Day can pick one free doughnut of their choice - any variety - with no purchase necessary. Armed with a helmet, rolling pins and donut supplies, the Donut Lassies provided the soldiers a piece of home from the trenches of eastern France, said Lt.
  • Dow sinks on Trump's steel, aluminum tariffs

    Dow sinks on Trump's steel, aluminum tariffs

    Economy

    Tariff: U.S. plans to impose 25 per cent tariff on steel from Canada. The administration first announced the tariffs back in early March, portraying them as an aggressive effort to fight the perfidious behavior of China and other countries to subsidize their domestic metals industries, undermining American national security.