Economy

Donald Trump mocked over FART Act on trade

Donald Trump mocked over FART Act on trade Donald Trump's administration is prepared to abandon numerous "fundamental World Trade Organization rules" that are now in place, according to a leaked document obtained by Axios . The Axios report says most of the Trump officials who worked up the proposal think it's unrealistic, and that has led to speculation that staffers gave it the unfortunate acronym on objective, notes Business In... [Full Article...]

Netflix Testing 'Ultra' Tier With Higher Price, May Hurt Premium Users

Netflix Testing 'Ultra' Tier With Higher Price, May Hurt Premium Users As per a report in Tutto Android , Netflix is planning to release the new Ultra tier priced at Euro 16.99 (roughly Rs. 1,400). Based on current pricing, Netflix would charge $16.99 in the U.S. This essentially means that Netflix Premium users will have to upgrade to the more expensive Ultra tier to maintain the same level of service. Customers in some European countries are seeing a new opt... [Full Article...]

Trump asks Saudi Arabia to increase oil production

Trump asks Saudi Arabia to increase oil production Unless demand falls back, or some of these outages dissipate, oil prices could be heading much higher. Saudi Arabia's pledge followed a meeting earlier this month in Vienna of OPEC members, Russian Federation and other oil producing countries. [Full Article...]

US Chamber Of Commerce Launches Campaign Against Trump Tariffs

US Chamber Of Commerce Launches Campaign Against Trump Tariffs The powerful US Chamber of Commerce, the nation's largest lobby group with more than 3m members, has launched a campaign to oppose Trump's tariffs , while the European Union threatened to slap retaliatory tariffs on hundreds of billions of dollars worth of US goods. [Full Article...]

Algeria warns Saudi Arabia, Russia against increasing oil output

White House officials have worked to backtrack the president's statement, stating that Saudi Arabia now outputs 10 million bpd, and maintains slack in their production equivalent to 2 million bpd that they can tap, "if and when necessary to ensure market balance". [Full Article...]

Germany’s Angela Merkel faces off with allies over migration

Germany’s Angela Merkel faces off with allies over migration Jens Spahn, an arch critic of Merkel's migrant policy, may be unpalatable to many in the CDU, especially after making some controversial comments on poverty and being photographed with the new , outspoken US ambassador, a defender of US President Donald Trump. [Full Article...]

United Nations chief congratulates Mexico on its election

United Nations chief congratulates Mexico on its election He said they talked about border security and NAFTA , and they even discussed a bilateral trade deal with only the USA and Mexico . Mexico's president-elect Andres Manuel Lopez Obrador addresses the media after a private meeting with Mexico's President Enrique Pena Nieto at National Palace in Mexico City, Mexico July 3, 2018. [Full Article...]

Walmart boycott: Calls mount over 'Impeach Trump' items

Walmart boycott: Calls mount over 'Impeach Trump' items This appears to be a partisan move for a company that has been working hard to cater to the heartland, where many Trump supporters live, and urban centers, which tend to be more Democratic. Fox News notes that Old Glory is the company that is selling the clothing with "Impeach 45" emblazoned across the front. "However, just because Walmart has the right to sell the shirts, that doesn't mean i... [Full Article...]

Trump threatens to leave WTO after European Union warning on auto tariffs

Trump threatens to leave WTO after European Union warning on auto tariffs FART Act, stinks", writes Anthony Scaramucci . Last Friday the outlet had reported that Trump had asked aides about pulling the USA out of the WTO, and said the world had used the organization to "screw the United States". import tariffs on cars and vehicle parts were unjustifiable and would harm America's automotive industry and likely lead to counter-measures by its trading partners on $2... [Full Article...]

Trump courting other motorcycle companies after Harley

Trump courting other motorcycle companies after Harley In 2017, global motorcycle sales at Harley-Davidson fell 6.7%, as US sales declined 8.5%. Asked about the tweet, White House senior adviser Kellyanne Conway had no comment. Trump has threatened to impose higher taxes on the Milwaukee-based manufacturer in retaliation for its decision to shift some production for European-bound motorcycles from USA facilities to avoid tariffs being imposed by the E... [Full Article...]

Lyft buys Capital Bikeshare operator

Lyft buys Capital Bikeshare operator But Motivate is under threat from a growing wave of so-called dockless bike and scooter companies whose customers can leave vehicles on practically any sidewalk for the next person to pick up. 'Bringing together Lyft and Motivate will accelerate our collaboration with cities and deliver even better experiences to our passengers and riders'. [Full Article...]

Mexico's Lopez Obrador says wants referendum after three years

The earliest figures announced by the electoral board gave Lopez Obrador 53 percent of the vote. Lopez Obrador's presidential competitors, Jose Antonio Meade of the ruling PRI party and Ricardo Anaya of the PAN party, wished him success "for the well-being of Mexico". [Full Article...]

Facebook reveals data-sharing partnerships, ties to Chinese firms

Facebook reveals data-sharing partnerships, ties to Chinese firms Facebook said that it implemented tougher sharing controls in 2014 and gave third-party app developers one year of time to comply with the new rules. However, Facebook allegedly provided access to nearly all user information to these apps, and failed to conduct two-yearly audits as promised. [Full Article...]

EU warns Trump: auto tariffs could lead to $300B retaliation

The EU has a 10% levy, compared with 2.5% for cars entering the United States. "Economic analysis confirms that an increased tariff on these products will be harmful first and foremost for the U.S. Against China , the world's second-largest economy, the White House in mid-June announced stiff 25 percent tariffs on Chinese imports, sparking immediate retaliation from Beijing. [Full Article...]

Carrefour and Tesco join forces to boost purchasing power

Carrefour and Tesco join forces to boost purchasing power In the Forbes 2000 ranking of the world's largest public companies published last month, Carrefour and Tesco were ranked by sales as the world's second and third largest supermarket businesses respectively, with sales of $91.3bn (£69.4bn) and $75.4bn. [Full Article...]

BOOZE AWAY: Amazon offers free alcohol delivery service in Houston

BOOZE AWAY: Amazon offers free alcohol delivery service in Houston Amazon announced a new "try before you buy" service last summer called Amazon Prime Wardrobe . The idea behind Prime Wardrobe isn't anything new. Amazon Prime in the U.S. Unlike Trunk and Stitch Fix, Amazon will not be offering stylist services for its users. Prime members will also gain access to Amazon's media streaming service, Prime video, and ebook service, Prime reading. [Full Article...]

Trump and Mexico’s Lopez Obrador discuss immigration, trade during first call

An exit poll gave an overwhelming lead to leftist populist candidate Andres Manuel Lopez Obrador in Mexico's presidential election Sunday night, and one of his chief rivals conceded defeat shortly after polls closed nationwide. She said a Lopez Obrador presidency is a good way to kick the ruling Institutional Revolutionary Party , or PRI, out of power. "For the good of Mexico, I wish him th... [Full Article...]

Mexico's Lopez Obrador Claims Historic Win, Broad Mandate

Mexico's Lopez Obrador Claims Historic Win, Broad Mandate This is the first presidential election for Lopez Obrador's party, the National Regeneration Movement (MORENA), which has formed a coalition with the left-wing Labor Party and right-wing Social Encounter Party. Relations between Trump and Lopez Obrador will be closely watched because Trump has regularly criticized Mexico. Following his overwhelming majority win, Mexico's president-elect Andres M... [Full Article...]

Moog Post Appeal To Save Jobs After 25% Trade Tariff Announced

The European Union has claimed that Donald Trump's plans to impose higher import taxes on cars to the U.S. would harm his own country's economy. "They treat us very unfairly". "We ask that you will support us by imploring our elected officials to recognize that these tariffs are seriously harmful to American businesses like Moog ", the company says . [Full Article...]

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...]


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