Economy

Tesla rattled as questions asked over Model 3 quality

Tesla rattled as questions asked over Model 3 quality Musk tweeted out on July 1 that the company managed to build 7,000 Model 3s in seven days, and the company said total production of the vehicle, nominally priced from $35,000, totaled 28,578 for the quarter or about three times the volume in the first quarter. [Full Article...]

Boeing taking over Embraer's commmercial jets in joint venture deal

Boeing taking over Embraer's commmercial jets in joint venture deal The Boeing-Embraer alliance, following on the heels of the Airbus-Bombardier tie-up announced a year ago, represents the biggest realignment in the global aerospace market in decades, strengthening established Western planemakers against newcomers from China, Russia and Japan, analysts say. [Full Article...]

Baidu's mass-manufactured autonomous buses are ready to hit the world's streets

Baidu's mass-manufactured autonomous buses are ready to hit the world's streets The buses are being produced at King Long's manufacturing facility in Xiamen, in southeastern China's Fujian province. It is also partnering with SB Drive, the autonomous driving subsidiary of SoftBank Group, to bring Apolong autonomous mini buses to Japan early next year. [Full Article...]

Canada still aiming for intensive NAFTA talks

Canada still aiming for intensive NAFTA talks Trump , however, has said he wants to wait until after November's USA congressional midterms before committing to a new agreement. On Sunday, Ottawa responded to the Trump administration's tariffs on Canadian steel and aluminum with duties of its own against USA imports. [Full Article...]

China's Yuan Reverses Course, Rises Against Dollar

China's Yuan Reverses Course, Rises Against Dollar Among equity markets, Hong Kong dived as much as 3.3 percent to nine-month lows, hit also by US curbs on China Mobile. The dollar retreated 0.4 percent against a basket of currencies and the easing tensions in Germany helped the euro to gain 0.2 percent against the greenback. [Full Article...]

Joey Chestnut Eats Record-Breaking 74 Hot Dogs At Coney Island Contest

Joey Chestnut Eats Record-Breaking 74 Hot Dogs At Coney Island Contest Competitive eater Joey Chestnut is set to soon defend his title at the 2018 Nathan's Hot Dog Eating Contest in New York City. "At the end of the day, Joey Chestnut came in here and ate 74 hot dogs, broke a world record", said Cincotti, who celebrated his 26th birthday on Wednesday. [Full Article...]

Trump’s tweets have added $10 to oil prices, Iran’s OPEC boss says

Trump’s tweets have added $10 to oil prices, Iran’s OPEC boss says The price for Brent crude oil, the global benchmark for the price of oil, was up 1.32 percent as of 9:15 a.m. EDT to $78.32 per barrel. West Texas Intermediate, the US benchmark for the price of oil, was up 1.51 percent to $75.06 per barrel, its highest level since November 2014. [Full Article...]

Iran’s OPEC Governor: Trump's tweets have increased oil prices by $10

Iran’s OPEC Governor: Trump's tweets have increased oil prices by $10 Also, they probably can't do it immediately, it would take time, perhaps more than a year. At this point, such talk is just speculation in the market. "Your tweets have driven the prices up by at least US$10 per barrel", Iran's OPEC governor Hossein Kazempour Ardebili said in a message to Trump, carried by Iranian Oil Ministry's Shana news service. [Full Article...]

Institutional Crypto Space Develops as Coinbase Launches Custody Service

Institutional Crypto Space Develops as Coinbase Launches Custody Service After accepting its first trial deposit last week, the newly introduced custodial service is up and running. Given the still rocky Wild West nature of the cryptocurrency industry and markets, such a high-security service may be necessary before institutional investors enter into it. [Full Article...]

Trump administration recommends against allowing China Mobile access to USA market

Trump administration recommends against allowing China Mobile access to USA market His department's National Telecommunications and Information Administration also recommended that China Mobile's application to offer voice traffic between the United States and other countries be rejected. China Mobile , owned by China Mobile Communications Corp., "is wholly owned by a sovereign state, the People's Republic of China", the agency said in the filing. [Full Article...]

Eye on elections, govt OKs steep hike in MSP

Eye on elections, govt OKs steep hike in MSP He said that the Commission of Agricultural Costs and Production (CACP) had fixed input cost for major monsoon crop paddy at Rs 1,166 per quintal and the government had added 50 per cent profit, which would make the MSP Rs 1,750 per quintal this year - a steep increase of Rs 200 from Rs 1,550 last year. [Full Article...]

Can Joey Chestnut win his 11th Nathan's Hot Dog Eating Contest?

Can Joey Chestnut win his 11th Nathan's Hot Dog Eating Contest? The victory was not without drama, however. But despite how Chestnut finishes Wednesday's competition, his record is expected to remain intact, with heavy -220 odds favoring the victor to consume UNDER 72.5 hot dogs and buns. Joey Chestnut wins the annual Nathan's Famous hot dog eating contest, setting a new world record by eating 74 hot dogs in Brooklyn, New York , July 4, 2018. [Full Article...]

Europe could suffer collateral damage in US-China trade war

Europe could suffer collateral damage in US-China trade war The EU has called the levies pure protectionism, imposed retaliatory tariffs and complained to the World Trade Organization (WTO). The trade lost in the global economy from this slowdown will likely amount to hundreds of billions of dollars - dwarfing the value of trade involved in the row between the US and China. [Full Article...]

Largest U.S. business group attacks Trump on tariffs

Largest U.S. business group attacks Trump on tariffs Chamber of Commerce, the largest business group in the country, said in a new study . The EU sent comments to the USA on whether motor imports pose enough of a threat to United States national security to justify tariffs and estimating the economic impact. [Full Article...]

Ryanair repeats calls for 'urgent' European action after 1100 more flight cancellations

The strike is planned for Thursday July 12 , for 24 hours. Budget airline Ryanair has revealed another month of travel misery as it said air traffic control strikes left more than 210,000 passengers facing flight cancellations in June. The International Transport Workers' Federation (ITF), a union umbrella body that represents crew at the vast majority of Ryanair's bases, listed demands after t... [Full Article...]

HNA chairman Wang died falling off wall in France, says police source

HNA chairman Wang died falling off wall in France, says police source One of HNA's dollar bonds due in 2018 fell 1.5 cents on the dollar, the biggest drop since December 12, as of 4:59 p.m.in Hong Kong, according to Bloomberg prices. Wang obtained an undergraduate degree in Aviation Management from Civil Aviation University of China in 1983, and a master's degree in business administration from Holland Maastricht School of Management in 1995, according to HNA. [Full Article...]

Hyundai rubbishes rumours of FCA takeover

Hyundai rubbishes rumours of FCA takeover The denial may be viewed with suspicion, as the Hyundai-FCA merger rumor has persisted for many months. Sergio Marchionne has been vocal about merging FCA with another big automaker and three years ago, a deal with General Motors did not come into fruition. [Full Article...]

US Begins Lifting Ban On ZTE; Allows Company To Temporarily Resume Business

The Commerce Department cautioned that the denial order is still in place and that the waivers allow for limited activity, such as maintaining and supporting existing networks or equipment. ZTE's stock rose to its 10 per cent daily limit in Shenzhen Stock Exchange on Tuesday, the biggest jump in more than a year. Its shares in Hong Kong rose 7.6 per cent. [Full Article...]

United Kingdom growth accelerates to '0.4%' in second quarter

United Kingdom growth accelerates to '0.4%' in second quarter That points to a solid finish for the three months ending in June, the first quarter of this fiscal year, after Asia's third-largest economy grew at its quickest pace in almost two years in January-March. He added: 'Difficulties hiring skilled staff, together with the continued political uncertainty, are clearly weighing on employment levels but we expect this to ease in the coming months with mos... [Full Article...]

Will Theresa May’s ‘third way’ customs plan work?

Will Theresa May’s ‘third way’ customs plan work? Matt Cardy via Getty Images Jacob Rees-Mogg warned the Prime Minister she must deliver what she promised - or risk her administration. Jacob Rees-Mogg, leader of the hardline European Research Group of pro-Brexit Tories, told Mrs May he may not back a Brexit deal which left Leave voters "cheated". [Full Article...]


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