Markets

by | June 21, 2018 | 04:24

The European Commission today formally adopted the implementing regulation that will slam 25 percent tariffs on a list of American products worth €2.8 billion. Trump's threats to raise tariffs on imported cars could put $54 billion in annual revenue from European passenger auto exports to the U.S.at risk, according to data from the European statistics office.

by | June 20, 2018 | 09:50

Seehofer said he'd be glad to see a European agreement, but "we want this national solution unless a European solution comes together". Seehofer's Christian Social Union party had raised the prospect of the minister taking such action in defiance of the chancellor, which has escalated the issue into a threat to her government.

by | June 20, 2018 | 06:16

In turn, China says their new import taxes are in response to an earlier set of tariffs by the USA, also of $34 billion at a 25 percent rate. Oil prices too dipped as investors anxious that the dispute would damage economic growth. -China trade spat escalated and base metal prices slid. A counter punch was swift in coming, with a statement from Beijing on Friday night that it would "strike back forcefully".

by | June 19, 2018 | 12:33

Mulvaney has steered the bureau in a more industry-friendly direction since he took over. The CFPB was formed in the wake of the USA financial crisis of 2007-08, authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

by | June 19, 2018 | 12:34

The US leader warned he would go even further, with punitive measures on an extra $200 billion of Chinese goods - for a possible total of $450 billion of goods, or most Chinese imports - "if China increases its tariffs yet again". He added that China is a "predatory economic government" that is "long overdue in being tackled", matters that include IP theft and Chinese steel and aluminum flooding the US market .

by | June 17, 2018 | 03:52

This person also said Ross had said the list would take aim at products for which China supplied 33 percent or less of total USA imports in individual product categories, making it easier to shift to other countries' supplies. "We deeply regret that the United States has disregarded the consensus formed. and provoked a trade war". Washington and Beijing appeared increasingly headed toward a trade war after several rounds of negotiations failed to resolve USA complaints over Chinese ...

by | June 17, 2018 | 03:30

The spike comes ahead of an expected Federal Reserve rate hike . Savers, though, may eventually receive slightly higher yields. But attention will be focused mainly on any hints that the Fed might accelerate its rate hikes in the coming months.

by | June 17, 2018 | 01:43

The People's Bank of China on Thursday maintained the 7-day reverse repo at 2.55% and the rate on 14-day tenor at 2.70%. Retail sales in May expanded at the slowest pace since June 2003, according to Reuters calculations. Year-to-date output rose 5.4 percent to 369.86 million tons. Retail sales also whiffed, growing by 8.5% over the year, down from 9.4% in April. China's economy will likely expand by around 6.7 percent in the second quarter from a year earlier, the State Information ...

by | June 17, 2018 | 02:27

Trump slammed Trudeau as "dishonest" and "weak" after the Group of Seven summit last week, incensed by a news conference at which the Canadian premier termed the U.S. He said staying at the table could lead to progress on smaller issues while the process navigates the upcoming Mexican presidential election and the USA congressional midterms, which are both expected to slow things down.

by | June 17, 2018 | 00:54

The ECB also downgraded its eurozone growth forecast for this year to 2.1% from 2.4% previously, while upgrading its inflation forecast to 1.7% from 1.4%, largely as a result of rising oil prices. The ECB said it would end its bond buying program by December but interest rates would stay on hold "through the summer of 2019". Next up on the global calendar is the Bank of Japan, which meets Friday on interest-rate policy.

by | June 16, 2018 | 15:48

Made in China 2025 refers to Beijing's industrial policy of subsidising domestic companies developing strategic advanced technologies, including robotics and artificial intelligence. "Hopefully cooler heads can prevail and we can get a solution", said Matt Jacobson, executive director of the Maine Lobster Marketing Collaborative.

by | June 16, 2018 | 15:53

The SEC said Theranos, Holmes and Balwani misled partners and investors about the company's technology, misrepresented revenue projections and falsely claimed it didn't need regulatory approval for its testing technology. Its board of directors included future Defense Secretary James Mattis, former Secretaries of State George Schultz and Henry Kissinger, and two former senators, among others.

by | June 16, 2018 | 16:20

Deputy Patrick Rohrer died at the hospital from his injuries, authorities said. In March 2015 Deputy Scott Wood was shot seven times including once in the head, as he tried to stop three people from robbing a Kansas City, Kansas, 7-Eleven gas station.

by | June 15, 2018 | 07:38

The post has since gone viral. Photos of cards with the words " Baby Daddy " printed across a black couple kissing has been circulating since late May, and now Target has chose to act, reports Fox 5 DC . She is not calling for a boycott and doesn't necessarily see "baby daddy" as a term of endearment. "These phrases describe real-life situations that can have unhappy consequences for everyone involved, not least the children the words refer to, if only obliquely".

by | June 15, 2018 | 08:38

That store requires shoppers to swipe an app when they walk in, then uses computer-vision technology to track them and their purchases around the store. Gene Munster, a veteran Wall Street analyst and head of Loup Ventures, told Reuters that the future of checkout is cashierless. The work is being led by a small team of 10-15 people in the Microsoft Business AI team and has been presented to Satya Nadella .

by | June 15, 2018 | 08:37

In what's a very Sprint-esque sort of move, the company has been forced to kill a promotion offering users unlimited data for $15 (plus taxes and fees) after demand was notably higher than Sprint expected. You will also get the standard unlimited talk and text to the United States, Mexico, and Canada. But only AboveUnlimited provides five one-day TravelPasses each month that can be used in 130 countries.

by | June 15, 2018 | 07:04

Musk's flagship electric auto company Tesla Inc . struggled last year to turn an annual profit for the first time in its 15 years of doing business. The Boring Company has been focused on developing their boring tunnel technology. If all goes well in the contract-negotiation process, The Boring Company's selection by the city of Chicago is the most significant stepping stone for the company to date.

by | June 15, 2018 | 06:20

It calculates how much a full-time worker must earn to afford a two-bedroom apartment at what HUD determines as a "Fair Market Rent", without spending more than 30 percent of their income. The national housing wage for a modest one-bedroom apartment is $17.90, while the federal minimum wage is $7.25. At the same time, new rental construction has tilted toward the luxury market because of increasingly high development costs, the report said.

by | June 14, 2018 | 04:13

Oil prices turned positive on Wednesday after a bigger-than-expected decline in USA crude inventories along with surprise drawdowns in gasoline and distillates indicated strong demand in the world's top oil consumer. And while purchases have waned as shale production has grown, America is traditionally one of the biggest customers for Saudi oil. OPEC will meet on June 22-23 to discuss the potential of reducing its output cuts now that the market is more in balance.

by | June 13, 2018 | 16:10

Once over the bridge, Iovine said the driver suddenly pulled over and told the women to get out of the vehicle. Video footage shows the moment the man informs the pair that kissing in the back of the vehicle is illegal. "Uber does not tolerate any form of discrimination, and we have reached out to the rider regarding her experience", an Uber spokesperson told Newsweek in a statement.

by | June 13, 2018 | 17:01

AT&T has said it needs to buy Time Warner to compete with the likes of Amazon, Netflix and Google in the shape-shifting streaming-TV environment. and Amazon.com Inc. "This was a defining case for antitrust enforcement in the USA", former Justice Department antitrust attorney Ketan Jhaveri said.

by | June 13, 2018 | 14:52

Meantime, Burger King gently tweaked IHOB by jokingly announcing a change of name and logo on its Twitter account. IHOP-err IHOB-is so serious about the rebrand and focusing on craft burgers they've already begun changing the signs at restaurants around the nation.

by | June 13, 2018 | 15:29

About 28,500 US troops are stationed in South Korea , a legacy of the Korean War, which ended in 1953 in an armistice that left the two Koreas technically still at war. A federal investigation into alleged Russian meddling in the 2016 election also hangs over his presidency. But Trump refused to endorse a communique at the G7 summit over the weekend that said participants were "guided by our shared values of freedom, democracy, the rule of law and respect for human rights and our commitment ...

by | June 12, 2018 | 04:12

When asked upon landing in Singapore how he was feeling about the encounter, Trump gave a brief answer: "Very good". He brought three airplanes and a convoy of armored vehicles with him from Pyongyang, Time magazine reported . Balakrishnan also said that the Singapore government was footing the hotel bill for Kim and his delegation who are staying at the plush St Regis hotel here.

by | June 12, 2018 | 03:05

The fire-breathing device comes packaged with a rhyming set of terms and conditions that nods to the classic Dr. Seuss book " Green Eggs and Ham ". It continued: "I will not use this in a house, I will not point this at my spouse, I will not use this in an unsafe way, The best use is créme brulee".

by | June 12, 2018 | 03:47

Telecoms are now free to block, slow, or otherwise discriminate against online content and services. Pai, a Republican, who voted against the 2015 rules enacted under an Obama-era FCC, was appointed chairman by President Trump in January 2017.

by | June 12, 2018 | 03:14

However, it added: "Significant investment and technology upgrade in Solihull in order to accommodate our next-generation of flagship Land Rover models, and the refit of our Halewood plant for the next Evoque, is proof that we remain committed both to the United Kingdom and to transformation and growth".

by | June 12, 2018 | 03:03

Asked what Trudeau did that amounted to betrayal, Kudlow criticized the Canadian leader for holding a press conference in which he called US tariffs "insulting". Trudeau's itinerary was marked "personal" and he was not in the House of Commons. Larry Kudlow , Director of the United States National Economic Council, speaks to reporters in the White House Press Briefing room.

by | June 11, 2018 | 21:00

Earlier in the evening, Trump tweeted that Canadian prime minster Justin Trudeau was "meek" and "mild" and that his statements were " false ". Trudeau has used the word " insulting " several times in the last couple of weeks to describe Trump's tariffs, as the prime minister has taken issue with the fact they're being applied on the premise that Canada poses a national security threat to the U.S.

by | June 11, 2018 | 19:30

Bitcoin's price has fallen to $6,627 (on the Bitstamp exchange ) on the news of a hack of a major cryptocurrency exchange in South Korea - Coinrail . The markets are down this morning in the wake of an alleged $40 Million hack of South Korean cryptocurrency exchange, Coinrail. The prices of Bitcoin, Ethereum, and all other major cryptocurrencies have experienced big drops in the last 24 hours, following the news that South Korean cryptocurrency exchange Coinrail has been hacked.

by | June 11, 2018 | 19:12

Kim's entourage is staying at the St Regis, less than 10 minutes walk away, with a motorcade that features a dozen North Korean bodyguards in dark suits who jog in Singapore's drenching heat beside his armoured vehicle. He released a photograph from inside the room of North Korean vice foreign minister Choi Sun-hee smiling across the table at the USA lead negotiator, the Philippines ambassador Sung Kim.

by | June 11, 2018 | 19:04

Losses for the financial year 2016-17 were £17.1m, up from £5.4m the year before. Deloitte , which has been co-ordinating efforts to find a solvent deal for the business , is expected to oversee the administration of Poundworld. 'Unfortunately, this has not been possible. Other parties named as possible buyers were turnaround specialist Alteri Investors and Poundworld's founder Chris Edwards.

by | June 10, 2018 | 01:20

According to a recent CNBC article, US Secretary of Commerce Wilbur Ross has called the deal " the strictest and largest settlement fine that has ever been brought by the Commerce Department against any violator of export controls ". The company was subverting USA laws by buying United States components, incorporating them into its own devices which it exported to Iran and North Korea.

by | June 09, 2018 | 02:34

Trump's concerns are said to be based on the fact that other leaders who are attending the summit disagree with him on key issues and he "does not want to be lectured by them". Trump called out the Prime Minister by name in a statement that threatened to tear up the North American free-trade agreement. Mr Trump was heading into a bigger controversy over trade as other G7 leaders, including host Canadian Prime Minister Justin Trudeau , have been angered over Washington's imposition of ...