Economy

India happy with OPEC decision to raise oil production

India happy with OPEC decision to raise oil production As per the new deal, the OPEC will increase about 1 million bpd of oil into the markets, although most of the member countries are now not in a position to ramp up their output immediately. US light crude settled at $68.08 a barrel, down 50 cents. And with the bulk of the output increase likely coming from Saudi Arabia, Kuwait, UAE and Russian Federation, the oil complex is likely pricing in c... [Full Article...]

Harley-Davidson move 'consequence' of USA tariffs

Harley-Davidson move 'consequence' of USA tariffs Over the next year and a half, the company wrote , it will move some of its production capacity to Europe to avoid tariffs on motorcycles it sells there. On Tuesday, the president tweeted incorrectly that Harley was shifting its operations in Missouri to Thailand. These measure could be announced by mid-July, she said. [Full Article...]

United States may use emergency law against China investments, says Bloomberg

United States may use emergency law against China investments, says Bloomberg Jyrki Katainen , the EU's vice president on jobs and economic growth, added that actions like Trump's unilateral tariff hikes against China showed that WTO rules on global trade had to change, the Associated Press reported . China on Monday also signed an agreement to import beef from France, just as U.S. beef shipments are threatened with tariffs. The meeting between economic decision maker... [Full Article...]

United States wants allies to cease oil imports from Iran by November 4

United States wants allies to cease oil imports from Iran by November 4 Hundreds of merchants protested in front of the Parliament in Tehran, witnesses said. It was the first such confrontation since similar demonstrations rocked the country at the start of the year. Rouhani said the three branches of government - administration, parliament and judiciary - bear "heavy responsibility" to counter the USA plot. The State Department asserted that there would be no waive... [Full Article...]

Payne: Harley-Davidson Using Trump's Tariffs as 'Cover' for Moving Production Overseas

If they move, watch, it will be the beginning of the end - they surrendered, . "They'll be, actually, for over there, they're going to try to go around the tariff tax that way", Capra said. The poster boy of US President Donald Trump's trade war - Harley-Davidson - just embarrassed him by deciding to take part of its manufacturing out of the US. [Full Article...]

Trump threatens Harley-Davidson with taxes 'like never before' in Twitter rant

Trump threatens Harley-Davidson with taxes 'like never before' in Twitter rant Who knows? Since no one in the White House seems to understand how global trade works, and we've seen how capricious and easily distracted The Donald is, it's 50/50 whether or not the tariffs go into effect or he gets distracted by a squirrel and forgets all about them. [Full Article...]

Erdogan claims victory in Turkish election - but opponent disputes, claims manipulation

Erdogan claims victory in Turkish election - but opponent disputes, claims manipulation But not everyone in Turkey is lamenting Erdogan's victory. The current prime minister, Binali Yildirim, said he expects he'll be appointed vice president . But even as Ince sought to woo working-class voters from Erdogan and his party, the president remained widely popular. The pro-Kurdish Peoples' Democratic Party (HDP) candidate Selahattin Demirtas came third with 8.4 per cent, a performa... [Full Article...]

Clive Bull Challenges Leave Mean Leave Co-Chair Over Airbus Scaremongering

Clive Bull Challenges Leave Mean Leave Co-Chair Over Airbus Scaremongering A non-profit coalition called the People's Vote has been lobbying to government for more transparency on the negotiations. Brexit remains the defining issue in British politics two years after Britons voted by 52-48 percent to leave the bloc. [Full Article...]

USA to limit Chinese investment in American tech firms

The CBOE Volatility index, known as Wall Street's fear gauge, spiked to its highest level in almost a month. The recent imposition of import tariffs by the USA, and counter-measures by other countries, are also starting to affect global production and supply chains. [Full Article...]

Harley-Davidson moving US production over European Union tariffs

Harley-Davidson moving US production over European Union tariffs The tremendous expense if passed onto its dealers and retail customers would have a lasting detrimental impact to its business in the region, the company said in a regulatory filing. Harley said ramping up production at its overseas global plants will require incremental investments and could take at least nine to 18 months. "We are now assessing the potential impact on our USA facilities", Mich... [Full Article...]

China and Europe warn trade war could trigger global recession

However, that contradicts the White House's own May 29 statement which specified that new measures would target China. Trade tensions between the USA and China have escalated in the last several weeks with the Trump administration's planned tariffs on $50 billion worth of Chinese imports and Beijing's announcement of counter-duties. [Full Article...]

The inexorable decline of the Turkish lira under Erdogan

The inexorable decline of the Turkish lira under Erdogan Erdogan's main presidential rival, Muharrem Ince of the main opposition Republican People's Party (CHP) urged election monitors to remain at polling stations to help ensure against possible election fraud, as final results came in from large cities where his party typically performs strongly. [Full Article...]

Trump Tariffs Just Got A Black Eye From Harley-Davidson

Trump Tariffs Just Got A Black Eye From Harley-Davidson To prevent this damage in the short term, Harley have said they will not raise their prices, instead they will bear the financial impact of the tariffs, estimating them to cost between $30 - 45 million (£22 - 33 million) for the remainder of 2018. [Full Article...]

Harley workers are first casualties in trade war

Increasing global production to alleviate the European Union tariff burden is not the company's preference, but represents the only sustainable option to make its motorcycles accessible to customers in the European Union and maintain a viable business in Europe. [Full Article...]

Harley-Davidson, stung by tariffs, shifts some production overseas

Harley-Davidson, stung by tariffs, shifts some production overseas Harley-Davidson Inc ( HOG .N) said on Monday it would not raise retail or wholesale prices for its dealers to cover the costs of the retaliatory tariffs by the European Union on USA products. Europe is the biggest export market for Harley-Davidson, which said that "in 2017, almost 40,000 riders bought new Harley-Davidson motorcycles in Europe, and the revenue generated from the European Union coun... [Full Article...]

Pro-EU Protesters March In London, Demand New Vote On Brexit

Pro-EU Protesters March In London, Demand New Vote On Brexit Brexit done badly will leave us in a worse position than we were before. "We need to get behind Theresa May to deliver the best possible Brexit, a clean Brexit". Further pressure came as the biggest business groups in the United Kingdom wrote a stinging letter to the prime minister , as well as to the European council president, Donald Tusk, and the European commission, Jean-Claude Juncker, on ... [Full Article...]

Chancellor Angela Merkel advocates bilateral, trilateral deals over migrants to EU

Chancellor Angela Merkel advocates bilateral, trilateral deals over migrants to EU Merkel is under pressure at home over her immigration policy, which is threatening to undermine the ruling coalition. The news came as Italy's new anti-immigration government said it would seize two boats carrying 226 migrants rescued off the coast of Libya. [Full Article...]

Kentucky Barton 1792 Bourbon Warehouse Collapse Sends 9,000 Booze Barrels Rolling

Kentucky Barton 1792 Bourbon Warehouse Collapse Sends 9,000 Booze Barrels Rolling There were no reports of injuries. Milt Spalding, PIO for the Nelson County Emergency Management, said they do not know what caused the collapse. Half the structure remains standing. Representatives from the state's Department for Environmental Protection were dispatched to the scene. Bardstown Fire Chief Billy Mattingly says the remainder of the building, which was built in the 1940s, is very... [Full Article...]

Interest rates held at 0.5% but borrowers should prepare for August hike

Interest rates held at 0.5% but borrowers should prepare for August hike However, while MPC members Ian McCafferty and Michael Saunders had been expected to continue to vote unsuccessfully for a rise in base rates at the latest meeting, Mr Haldane's vote surprised economists and financial markets. But policymakers now face a growing dilemma over when to hike next amid mixed economic data and rising inflation fears, with one economist saying it is "touch and go" whether... [Full Article...]

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...]


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