Economy

China says will 'fight back firmly' if United States publishes additional tariffs

China says will 'fight back firmly' if United States publishes additional tariffs United States crude futures took additional hit also as China's retaliatory tariffs included crude oil. The president asked U.S. Trade Representative (USTR) Robert LighthizerRobert (Bob) Emmet LighthizerMcConnell urges GOP senators to call Trump about tariffs Companies brace for trade war MORE to find $200 billion worth of Chinese goods that would be hit with a 10 percent import tax. [Full Article...]

Trump proposes new tariffs on $200B worth of Chinese goods

China is the main perpetrator. The new United States tariff will be imposed if China goes ahead and implements its new tariff on American goods, announced last week, the White House said, adding that trade between the two countries "must be much more equitable". [Full Article...]

Clydesdale name to go in Virgin bank deal

CYBG is offering Virgin Money's investors 1.2125 of its shares for each of their shares, meaning they would control 38pc of the combined company should the deal go ahead. It will trade under the Virgin Money brand as the Clydesdale name is gradually phased out over the coming years. "It will also accelerate the delivery of our strategic objectives, particularly the expansion of the products we o... [Full Article...]

Google makes $550M strategic investment in Chinese e-commerce firm JD.com

Google makes $550M strategic investment in Chinese e-commerce firm JD.com Chinese e-commerce giant JD.com is up more than 2.5% Monday morning after announcing Google will invest $550 million as part of a strategic partnership that will combine JD's supply chain and logistics expertise and Google's technology strengths. [Full Article...]

Audi chief exec arrested over Dieselgate vehicle emissions scandal

Audi chief exec arrested over Dieselgate vehicle emissions scandal It said it had installed software in 11 million diesel cars worldwide that could tell when they were being tested and cut their emissions. Stadler was arrested after a warrant was issued by a Munich prosecutor, the Sueddeutsche Zeitung newspaper reported , adding that his personal flat had been searched by fraud investigators last week. [Full Article...]

Audi CEO arrested over cheating probe

German authorities have taken Rupert Stadler , chief executive officer of Volkswagen AG's Audi unit, into custody, making him the highest-profile arrest in the group's diesel-cheating probes. News of the arrest comes as VW's new group CEO Herbert Diess is trying to introduce a new leadership structure, which includes Stadler, and speed up the group's shift toward electric vehicles in the wake of ... [Full Article...]

Tesco first-quarter sales rise following Booker merger | 15 June 2018

Tesco first-quarter sales rise following Booker merger | 15 June 2018 Britain's supermarket sector has been upended in recent years by the rapid growth of discount groups Aldi and Lidl and the growing popularity of online sales, forcing traditional groups Tesco, Sainsbury's SBRY.L , Walmart's WMT.N Asda and Morrisons MRW.L to work harder. [Full Article...]

McDonald's to test paper straws in US

McDonald's to test paper straws in US McDonald's executive Paul Pomroy says customers welcome the switch from plastic straws to paper as long as it does not impact their experience when visiting the restaurant. Some manufacturers have previously argued against the removal of plastic straws because they are needed by some people with disabilities, children and the elderly. [Full Article...]

Elon Musk's Boring Company to build airport link

Elon Musk's Boring Company to build airport link The firm was chosen over another qualified bidder offering a more conventional high-speed rail transit line. Boring has promised that the project will be "100 percent privately funded". "There are questions about the economic, social, legal and environmental impacts that the public needed answered before choosing this project". But Musk told a news conference that the project could break groun... [Full Article...]

Canada Goose (GOOS) Price Target Raised to C$64.00 at Barclays

Canada Goose (GOOS) Price Target Raised to C$64.00 at Barclays These stores complement the brand's e-commerce business, which it has expanded to 12 countries since 2014. GOOS has been the subject of a number of other research reports. The company has a market capitalization of $4.88 billion, a PE ratio of 138.94, a PEG ratio of 2.56 and a beta of 2.60. The new locations will reflect the local aesthetics of each city, while featuring familiar Canada Goose... [Full Article...]

Rolls-Royce to axe 4600 jobs, a lot of them in UK

Rolls-Royce to axe 4600 jobs, a lot of them in UK His plan, to simplify the company and make it more efficient, has been taking shape over the last three years, with the most radical action taken on Thursday when he announced job cuts created to save 400 million pounds a year by 2020. We have amassed orders for over 2,700 aero engines for wide-body aircraft and business jets. Council Leader Chris Poulter continued: "I have no doubt that this wa... [Full Article...]

Tax cuts boosting US now but will hurt growth later

Tax cuts boosting US now but will hurt growth later But it warned that growth after that will slide to levels just half of what the Trump administration is forecasting. The warning comes as the USA is about to impose tariffs on $50 billion worth of Chinese products. A stronger dollar makes imports cheaper for USA consumers while making US exports more expensive on overseas markets. She said the tax cuts, which would lead to a higher budget defi... [Full Article...]

Union wins first stage of High Court challenge over Deliveroo riders

Union wins first stage of High Court challenge over Deliveroo riders The Independent Workers Union of Great Britain (IWGB) was today given the green light for a full judicial review of a ruling by the Government's Central Arbitration Committee (CAC), which had said riders could not be classified as "workers". [Full Article...]

University Study Concludes Tether Manipulated Cryptocurrency Prices

University Study Concludes Tether Manipulated Cryptocurrency Prices Will the USDT keep printing more tokens despite all of the controversy swarming its hive to help prop back up the price of Bitcoin and the cryptocurrency markets like so many believed happen during the 2017 bull run. The paper also demonstrates the need for regulations and a pause on churning out new crypto-based financial products like Bitcoin exchange traded funds (ETFs) and futures, she... [Full Article...]

McDonald's to switch to paper straws in U.K., Ireland | AP business

McDonald's to switch to paper straws in U.K., Ireland | AP business The government warned earlier this year that plastic straws, along with other single-use plastic items such as cotton buds, could be banned as part of its efforts to cut marine pollution. Straws are usually made from type 5 plastic, or polypropylene, which can take up to 200 years to degrade and "will never be fully off the Earth", says the blog Get Green Now . [Full Article...]

Chinese Didi picks Australia for first Western foray

Chinese Didi picks Australia for first Western foray It has plans to further expand on Australia starting this month and then to spread its wings over Japan and Latin America. The launch in Australia is organic as Didi developed its team, while its Taiwan entrance was used by launching a franchise model and in Brazil it entered by way of an acquisition, acquiring 99 the local rival to Uber at a price of $1 billion. [Full Article...]

Royal Mail bans posties from sporting England flags on vans

Royal Mail bans posties from sporting England flags on vans Royal Mail staff have been told that they can not display England flags or stickers for "health and safety" reasons during the World Cup . It may cost drivers at the pump though - with some experts claiming an average vehicle with two flags attached burns an extra litre of fuel per hour than those without. [Full Article...]

Road rage led to shooting that killed boy, wounded 3

Road rage led to shooting that killed boy, wounded 3 Law enforcement officials investigate around the scene of a shooting in a parking lot behind a dentist's office on Thursday, June 15, 2018. Authorities say one boy is dead and his brother is in critical condition after a shooting in a suburban Denver parking lot earlier Thursday. [Full Article...]

Stephen Bannon Says Cryptocurrencies are 'Disruptive Populism'

Stephen Bannon Says Cryptocurrencies are 'Disruptive Populism' After a meeting last month, Ikigai cryptocurrency hedge fund co-founder Timothy Lewis said he was impressed with Bannon's knowledge of the market. "It nearly seems like a natural progression for a man who gained priminence by shoveling out unfounded conspiracies to now shilling complex technology and financial instruments to an unsophiticated investing public", adds researcher and adviser ... [Full Article...]

Eurozone stimulus program to end after Dec

Eurozone stimulus program to end after Dec The ECB began its asset purchase programme in 2015, years after the United Kingdom and U.S. took similar action to shore up their economies. China will impose an additional 25 percent tariff on 659 US goods worth $50 billion, the official Xinhua news agency reported on Saturday, citing the Tariff Commission of the State Council. [Full Article...]


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