Economy

Trump's Tweet on Deal With Saudi King Makes Oil Prices Plummet

Trump's Tweet on Deal With Saudi King Makes Oil Prices Plummet But while US crude was bolstered by supply concerns, a flurry of announcements over the weekend unsettled oil markets. "The (Iranian) government has a plan. "Anyone trying to take away Iran's oil market (share) would be committing great treachery against Iran and will one day pay for it", Jahangiri warned in an open reference to Saudi Arabia. [Full Article...]

If WTO Doesn't Treat US 'Properly, We Will Be Doing Something'

Axios reported on Sunday about a "stunning" piece of legislation that has been drafted up by the White House - but it's the acronym of the proposed bill that has caught the attention of Twitter. "The only way this would be news is if this were actual legislation that the administration was preparing to roll out, but it's not", says Lindsay Walters. [Full Article...]

Dell is becoming a public company again after 5 years

Dell is becoming a public company again after 5 years VMWare's board of directors (remember, Dell acquired EMC for $67 billion in 2015) has voted to declare an $11 billion cash dividend pro rata to all VMWare stockholders. Dell Inc.is nearing a deal to buy out the holders of shares that track the performance of VMWare Inc using a mix of cash and equity in Dell, people familiar with the matter said on Sunday. [Full Article...]

Orders of LeBron James Lakers jerseys spike

Orders of LeBron James Lakers jerseys spike They prepared an old-fashioned press release under the letterhead of Paul's agency, Klutch Sports Group, but they weren't sure if or when they'd distribute it. However, he had endured frustration with the Cleveland Cavaliers , culminating in last month's clean sweep defeat to the Golden State Warriors in the NBA Finals. [Full Article...]

BMW: Trump's Tariffs Threaten Jobs In Republican South Carolina

BMW: Trump's Tariffs Threaten Jobs In Republican South Carolina Government-namely the 232 Steel and Aluminum tariffs and the Section 301 tariffs against Chinese imports-the threat of additional tariffs on automobile imports could be detrimental to our company", GM said. Last week, European Council President Donald Tusk warned that Trump's policies are harming trans-Atlantic relations and that "we must be ready to prepare our Union for worst-case scenarios". [Full Article...]

Mnuchin slams report on US quitting WTO

Mnuchin slams report on US quitting WTO President Donald Trump's trade wars are already stirring global economic anxiety - and a new report claims that he wants to take his attacks on the global economy to a whole new level. "Faced with these unjustified tariffs, the United States will take all necessary actions under both US law and worldwide rules to protect its interests", he said. [Full Article...]

Automakers, manufacturers oppose president's call for auto tariffs

Automakers, manufacturers oppose president's call for auto tariffs The Japanese automaker also said the tariffs would harm some of the U.S.'s closest allies, including Canada, when such Commerce investigations traditionally inspect whether imports come from unsafe sources. The proposed tariff has already prompted widespread criticism from various organizations and manufacturers of the North American auto industry. The input "will enable us to make our best info... [Full Article...]

Trump blasts OPEC, warns European companies against business with Iran

European countries have been attempting to negotiate exemptions for their firms, but the official confirmed that US President Donald Trump intends to stick to his deadline. It's awful what they do to us, he said. "And I have a very good relationship with the (Saudi) king and with the crown prince of Saudi Arabia and with the others around and they are going to have to put out more oil". [Full Article...]

Canada imposes retaliatory tariffs on $12.5B of USA goods

More than 40 USA steel products attract tariffs of 25%. In his Canada Day message, Trudeau paid tribute to the working-class Canadians who will be impacted by Canada-U.S. "These retaliatory tariffs underscore the complete hypocrisy that governs so much of the global trading system", he said in a statement, and "do great damage to the multilateral trading system". [Full Article...]

Tesla spikes after hitting Model 3 production goal hours after self-imposed deadline

Tesla spikes after hitting Model 3 production goal hours after self-imposed deadline Damodaran said: "Put bluntly, there is no chance that Tesla can deliver what it needs to, in terms of scaling up revenues and improving profitability, to justify its market capitalisation, without raising new equity along the way". These delays led Tesla to burn through a worrying amount of cash and risked stripping the company of its first-to-market position for mid-priced, long-range battery ele... [Full Article...]

Gareth Southgate defends resting England players for 'biggest game for a decade'

Gareth Southgate defends resting England players for 'biggest game for a decade' Alli and the other Spurs players in the England team will be facing a Tottenham team-mate on Tuesday in Colombia centre-back Davinson Sanchez, who will be directly opposed to Harry Kane . The dam is surely due to break soon, though, particularly as he considers himself a more clear-minded attacking threat than in his younger days. "In my younger days I just wanted to run with the ball every s... [Full Article...]

Trump blasts Opec and warns European companies against Iran ties

Asked if someone was manipulating oil markets, Trump said: "OPEC is and they better stop it because we're protecting those countries, many of those countries". Meanwhile Sunday, Iran's first Vice President Eshaq Jahangiri said his country's crude oil will be available on Iran's domestic stock market for private companies to buy and export. [Full Article...]

Tatas gets equal share in Thyssen JV

Tatas gets equal share in Thyssen JV The 50-50 joint venture will be named ThyssenKrupp Tata Steel which will have about 48,000 workers and about €17 billion ($19.9 billion) in sales. German steel giant Thyssenkrupp has said previous year that it expects its proposed joint venture with Tata Steel Europe to be finalised by the end of 2018. [Full Article...]

Crew Member Overboard From Norwegian Getaway

Crew Member Overboard From Norwegian Getaway The Coast Guard station in Miami deployed a HC-144 Ocean Sentry airplane to search the waters northwest of Cuba. Cellphone video captured the moment the 33-year-old Filipino man, an employee of Norwegian Cruise Line, was pulled on board the Carnival Glory, Sunday. [Full Article...]

Trump urges Saudis to raise oil output 'by two million barrels'

Trump urges Saudis to raise oil output 'by two million barrels' OPEC and its allies decided last June 22 to raise crude production by a million barrels a day, a volume that, in the medium term, could be more like 600,000 barrels, as a way to control prices that are at their highest since 2014. Saudi Arabia said in a statement on the state-run Saudi Press Agency on Saturday that King Salman had received a telephone call from Trump and the two discussed the ne... [Full Article...]

Thyssenkrupp, Tata Steel merging Europe steel operations

However, in case of an Initial Public Offering (IPO) of the joint venture, Thyssenkrupp will receive a higher share of the proceeds, reflecting an economic ratio of 55/45 in favour of Thyssenkrupp. "We will create a highly competitive European steel player - based on a strong industrial logic and strategic rationale". Until completion of the JV process, Thyssenkrupp Steel Europe and Tata Steel in ... [Full Article...]

Amazon wants you to start a business to deliver its packages

Amazon wants you to start a business to deliver its packages On Thursday, June 28, 2018, the world's leading e-commerce giant announced plans for entrepreneurs to launch their own delivery businesses for Amazon . Amazon is constantly looking for hands-on leaders who think big and deliver results for our customers. "I had prior experience running my own business but not in logistics", said Olaoluwa Abimbola, one of Amazon's beta participants in the new... [Full Article...]

Seattle musician says Elon Musk ripped off her dad's farting unicorn art

Potter Tom Edwards runs pottery business Wallyware and sells ceramic items featuring his designs and artwork. Will demand continue as new electric cars from other luxury makers enter the market? But he said he would stop using the unicorn if that's what Edwards wants. [Full Article...]

British GDP growth revised up, but still lackluster for first quarter 2018

For the year, GDP stayed flat, as it grew 1.2 per cent. ONS head of GDP Rob Kent-Smith said: "GDP growth was revised up slightly in the first three months of 2018, with later construction data, and significantly improved methods for measuring the sector, nudging up growth". [Full Article...]

Warburtons slashes crumpet production due to Carbon dioxide crisis

Warburtons slashes crumpet production due to Carbon dioxide crisis The production of bread will not be affected, the food manufacturing giant confirmed. Warburton's supplies 1.5 million crumpets a week to customers in the United Kingdom, packaged using carbon dioxide to give them longer shelf life and prevent mould. [Full Article...]


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