Economy

International Monetary Fund welcomes Greek debt deal but has reservations on long-term

International Monetary Fund welcomes Greek debt deal but has reservations on long-term Eurozone finance ministers early on Friday extended maturities and deferred interest of a major part of their loans to Greece along with a big cash injection to ensure Athens can stand on its own feet after it exits its bailout in August. [Full Article...]

AMC rivals MoviePass with a $20 monthly subscription

AMC rivals MoviePass with a $20 monthly subscription At launch, users will be able to add one of these new options to their ticket purchase, but adding both options for the same showing won't be available immediately. That convenience factor alone can make the cost of AMC Stubs A-List worth it. Lowe said the added price would range from $2 to $6, which is still a bargain considering an Imax film in California averages $15 to $20. [Full Article...]

Euro zone agrees Greek debt relief, 15 bln new loans - Centeno

Euro zone agrees Greek debt relief, 15 bln new loans - Centeno Greek Finance Minister Euclid Tsakalotos said the debt relief deal makes Greece's debt sustainable, allowing the country to return to debt markets. The repayment of 96 billion euros will be pushed back by ten years to allow the country to get back on its feet after the bailout programme ends in August this year. [Full Article...]

Tesla Sues Former Employee for $1 Million Over Data Theft and Sabotage

Tesla Sues Former Employee for $1 Million Over Data Theft and Sabotage Tesla told the Post that Tripp was not a whistleblower , but instead had made exaggerated and false claims in an attempt to hurt the company. But it wasn't just the sabotage to Tesla's production line and fake news stories that concerned the automaker. Tesla dismissed Tripp's claims as insane talk, but the company faces pressure from ornery investors - enough to force Musk to p... [Full Article...]

Why the Online Sales-Tax Ruling May Have Limited Impact

Why the Online Sales-Tax Ruling May Have Limited Impact The Supreme Court just voted to close a loophole that has seen American consumers dodge billions in sales tax on online orders since 1992. Trump tweeted . Many e-commerce giants like Amazon and Walmart already collect sales tax because they're so big they have a large enough presence throughout various states to collect sales tax. [Full Article...]

Donald Trump threatens 20 percent tariff on European Union cars

Donald Trump threatens 20 percent tariff on European Union cars Trump's tweet also comes the same day the EU imposed tariffs on USA products, ranging from Kentucky Bourbon to Harley Davidson Motorcycles, in retaliation against us tariffs on imports of European steel and aluminum. The Alliance of Automobile Manufacturers says in a statement that it understands that the administration is trying to level the playing field but that "tariffs raise vehicle p... [Full Article...]

Speeding to auction record? 1962 Ferrari could fetch US$45 million

Speeding to auction record? 1962 Ferrari could fetch US$45 million Ferrari built just 36 examples of the model from 1953 to 1964, and these elegant race cars have generated the highest prices among all vintage automobiles in recent years. And that's why it might actually sell for more than US$45 million. Gabardi won nine of 10 GTO races in the first year he owned it, then bought another one and sold chassis No. [Full Article...]

OPEC discussing oil production increase to ease energy costs

OPEC discussing oil production increase to ease energy costs President Trump is embroiled in several simmering trade disputes, but perhaps most concerning to investors are the tensions between the US and China: Most recently, in retaliation to a slew of tariffs imposed by the White House last week, Beijing slapped tariffs on American oil . [Full Article...]

OPEC agrees to pump more oil and crude prices jump

OPEC agrees to pump more oil and crude prices jump Oil extends rally after OPEC agreed to increase output but more modestly than expectations. After an OPEC meeting in Vienna , Emirati Energy Minister Suhail al-Mazrouei said the cartel made a decision to fully comply with its existing production ceiling. [Full Article...]

Opec to open oil taps

After a meeting in Vienna, Emirati Energy Minister Suhail al-Mazrouei said the cartel chose to fully comply with its existing production ceiling. Oil prices rose sharply after OPEC agreed to only a modest increase in output, well below some of the figures that had been discussed ahead of the meeting. [Full Article...]

MSCI Lifts Argentina, Saudi Arabia To Emerging Markets Status

MSCI Lifts Argentina, Saudi Arabia To Emerging Markets Status The "emerging" index now includes 830 shares of 23 markets, while the "border" index follows 127 shares of 30 markets. Some analysts argue that the health of the Saudi market depends more on the oil price, domestic economics and regional geopolitics than inclusion in MSCI. [Full Article...]

Supreme Court sales tax ruling to make online shopping more expensive

Amazon ( AMZN ) and other e-commerce stocks fell Thursday, following a closely watched U.S. Supreme Court decision saying states can collect taxes from retailers that do not have a physical presence there. "At the end, the Supreme Court vacated and remanded the case to the state court", said Jamie Yesnowitz, principal and SALT National Tax Office leader at Grant Thornton. [Full Article...]

Iran Walks Out As Russia, Saudis Gain Support For Oil Output Increase

The measure has helped rebalance the market in the past 18 months and lifted oil to around $74 per barrel from as low as $27 in 2016. Iranian OIl Minister Bijan Zanganeh's exit from a meeting in Vienna on June 21 threw into question whether Russian Federation and the OPEC oil cartel will be able to reach agreement on their proposed 1 million-barrel-a-day production increase, the first such rise ... [Full Article...]

European Union retaliates against Trump’s metal tariffs

European Union retaliates against Trump’s metal tariffs The items targeted also include steel products and agricultural produce such as orange juice and rice. "However, the unilateral and unjustified decision of the USA to impose steel and aluminium tariffs on the European Union means that we are left with no other choice", the bloc's trade commissioner Cecilia Malmstrom said in a statement on Wednesday. [Full Article...]

European Union to impose duties on United States imports on Friday after Trump tariffs

European Union to impose duties on United States imports on Friday after Trump tariffs On Thursday, Indian imposed tariffs on 29 United States goods worth $ 238 million as a countermeasure. "The Irish whiskey industry has been a major beneficiary of global free trade and EU-led free trade agreements". Last week pork was included in a second round of tariffs to be imposed on July 6. India finalized its decision during a week when the global trade war escalated, with the United ... [Full Article...]

U.S. Oil Prices Slip a Bit Before OPEC Meeting

U.S. Oil Prices Slip a Bit Before OPEC Meeting The black gold has likely picked up a bid due to uncertainty over whether the Organization of the Petroleum Exporting Countries (OPEC) would be able to lift production. Saudi Arabia and its allies estimate that total cuts now amount to 2.8 million barrels. Phil Flynn, an oil analyst with The Price Futures Group, expects a deal for around an extra 1 million barrels a day. [Full Article...]

German AfD accuses Merkel allies of copying tough line on migrants

German AfD accuses Merkel allies of copying tough line on migrants And then: " We don't want what is happening with immigration in Europe to happen with us! ". The move sparked a clash between France and Italy as immigration also triggered a domestic crisis for Merkel, a leader already weakened by her decision in 2015 to keep open German borders to a mass influx of more than one million refugees . [Full Article...]

Trump, China tariff fight turning into trade war, hurts economy, jobs

Trump, China tariff fight turning into trade war, hurts economy, jobs With concerns growing on Wall Street, the Dow Jones industrial average closed down almost 300 points - more than 1 percent - on its sixth straight losing day. Large U.S. companies with significant overseas business were hit especially hard. Apple fell 1.9 percent to $185.16 and Facebook gave up 1.2 percent to $195.92. [Full Article...]

Audi CEO Arrested in Dieselgate Probe

Audi CEO Arrested in Dieselgate Probe Munich prosecutors are investigating whether Stadler acted swiftly enough to stop deliveries of manipulated Audi models in Europe once emissions problems had emerged, a person familiar with the matter has told Reuters . Rupert Stadler , CEO of German vehicle producer Audi, briefs the media during the annual press conference in Ingolstadt, Germany. Although most of the attention to VW's ... [Full Article...]

Oil prices have become unsustainably high: Dharmendra Pradhan

Oil prices have become unsustainably high: Dharmendra Pradhan Brent reached a 3-1/2-year high above $80 a barrel last month but has fallen steadily in recent weeks as Saudi Arabia , de facto leader of OPEC , has signaled it intends to raise production to stabilize prices. Ecuador said OPEC and its allies could agree to a compromise increase in output of around 0.5-0.6 million bpd. Saudi Arabia's Energy Minister Khalid Al-Falih was confident that there ... [Full Article...]


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