Economy

Donald Trump readies $200 billion in China tariffs, citing 'unacceptable' policies

Donald Trump readies $200 billion in China tariffs, citing 'unacceptable' policies Mr. Trump's move comes after Beijing announced it would retaliate in kind to planned US tariffs on $50 billion in imports from China . The tariffs were quickly matched by China on United States exports. "Everyone knows ... China is the main perpetrator", he said. The Organization of the Petroleum Exporting Countries ( OPEC ) together with a group of non-OPEC producers that includes Russian Fede... [Full Article...]

Google to invest $550 million in Alibaba rival JD.com

Google to invest $550 million in Alibaba rival JD.com The deal gives Google a path into the Chinese e-commerce market and does the same for JD.com in the USA and Europe. According to the report, the agreement will not involve any major new Google initiatives in China . Walmart teamed up with Google a year ago as both battle Amazon . Google joins JD.com's current investors, including Chinese social media giant Tencent and US. [Full Article...]

China: The United States Has ‘Launched a Trade War’

China: The United States Has ‘Launched a Trade War’ A truce was announced in May, but it proved short-lived. Those could come if China would impose new tariffs on USA goods, services, agricultural products, or raise non-tariff barriers, and take actions against American or companies operating in China, according to the statement . [Full Article...]

Ahead of Macron meeting, Merkel insists migration needs 'European answer'

Ahead of Macron meeting, Merkel insists migration needs 'European answer' Still, polls suggest that its absolute majority in the Bavarian state legislature is in danger in the October 14 state election and it is being challenged on the right by the far-right, anti-immigrant Alternative for Germany party. The row boiled over this week when a boat carrying Libyan migrants rescued at sea was refused permission to dock on either Italy or Malta. Seehofer and Merkel have lo... [Full Article...]

Audi CEO Rupert Stadler detained in diesel emissions case

Audi CEO Rupert Stadler detained in diesel emissions case Last week, the public prosecutor's office in Munich announced it was investigating a total of 20 suspects linked to the never-ending Dieselgate scandal , mentioning it had searched Rupert Stadler's apartment. Volkswagen Group's woes are far from over as the emissions scandal gets uglier. The 55-year-old was arrested at his home in Ingolstadt in the early hours on Monday, they said . [Full Article...]

Audi chief executive Rupert Stadler arrested

Just last week, Volkswagen agreed to pay a 1 billion-euro fine imposed by German prosecutors for cheating to get around diesel-emissions regulations. As part of the investigation, Stadler's home has been raided, while authorities are now investigating 19 other suspects, the identities of whom have not been disclosed. [Full Article...]

Trump administration announces tariffs on $50B in China imports

Trump administration announces tariffs on $50B in China imports The announcement came in response to President Donald Trump's own increase in tariffs on Chinese imports in the United States. In April, he asked officials to consider an additional $100 billion in levies. Two detailed lists of products on which tariffs will be collected starting July 6 now form the core of the conflict between the world's two largest economies: One released Friday aimed... [Full Article...]

McDonald's to switch to paper straws in all UK restaurants

McDonald's to switch to paper straws in all UK restaurants The fast food chain's unprecedented move - which will also affect all restaurants in Ireland - will come into effect in September. The announcement follows news that the government is planning to ban the sale of plastic straws, drinks stirrers and cotton buds from sale in England . [Full Article...]

European Central Bank to end crisis-era stimulus programme in December

European Central Bank to end crisis-era stimulus programme in December Euro zone banks had already weakened on Thursday on disappointment that the ECB would keep interest rates ultra-low for longer, as banks' margins suffer from negative interest rates. Basic resources stocks led the decline with a 1.3 drop following weak data from big metals consumer China. "If we see weakness in bonds as yields rise that's going to affect more the bond proxies". [Full Article...]

Trump accuses OPEC of raising oil prices

Trump accuses OPEC of raising oil prices In its first detailed forecast for 2019, the IEA said Venezuelan and Iranian oil production will fall by a combined 1.5 million barrels per day by the end of next year; however, extra oil output from OPEC and non-OPEC countries such as Saudi Arabia and Russian Federation could compensate for the lost supply. [Full Article...]

Trump imposes tariffs on Chinese goods

Trump imposes tariffs on Chinese goods While much of the USA apparel manufacturing industry has moved overseas to chase lower labor costs, the country still remains home to a multibillion-dollar textile industry. The prospect of a U.S. "It is deeply regrettable that in disregard of the consensus between the two sides, the USA has demonstrated flip-flops and ignited a trade war", the ministry said. [Full Article...]

1 deputy dead, 1 critical after being shot outside county courthouse

1 deputy dead, 1 critical after being shot outside county courthouse When they pulled into a parking lot outside the county courthouse, the deputies were "overcome", Bailiff said. "The police had drawn their guns... and the active shooters were coming from close to the convention center, so they were meeting in the middle basically", a witness told FOX4's Kara Mashek. [Full Article...]

American Airlines technical issue cancels flights

American Airlines technical issue cancels flights American, which is based in Fort Worth, Texas, moved passengers to flights on its main jet operations or other regional carriers. American Airlines canceled more than 500 regional flights across the country due to a technical issue starting Thursday night. [Full Article...]

Elizabeth Holmes steps down as Theranos CEO as DOJ levels charges

Elizabeth Holmes steps down as Theranos CEO as DOJ levels charges Elizabeth Holmes , the founder of the embattled health startup Theranos, on Friday was charged in federal court with wire fraud with prosecutors alleging that the company was a "multi-million dollar scheme to defraud investors". Holmes, a one-time media darling clad in her trademark black turtlenecks, has become a well-known corporate villain. Much of the allegations in the indictment have been ... [Full Article...]

China: ‘The US has launched a trade war’

China: ‘The US has launched a trade war’ He also threatened to impose more tariffs , should China retaliate with tariffs of its own. China's Foreign Minister Wang Yi has urged the United States to make a "wise decision" on trade as a deadline for the administration of President Donald Trump to release a list of tariffs targeting $50 billion in Chinese goods approaches. [Full Article...]

CDC: Kellogg's cereal source of 31-state salmonella outbreak

CDC: Kellogg's cereal source of 31-state salmonella outbreak The company is voluntarily recalling 15.3-ounce and 23-ounce packages of the cereal with a "best if used by" date from June 14, 2018, through June 14, 2019. Kellogg says consumers should discard the affected product and contact them for a full refund: 1-800-962-1413 or by visiting this website . Salmonella can cause diarrhea and severe abdominal cramps lasting up to three days and is part... [Full Article...]

McDonald's to scrap plastic straws across all United Kingdom and Ireland restaurants

The Marine Conservation Society said about 70% of litter on beaches was made of plastic with items such as straws, cups and stirrers making up over 20% of the litter. UK Environment Secretary Michael Gove called on other companies to follow the example of McDonald's. It also plans to test alternatives to plastic straws in its restaurants in France, Sweden and Norway. [Full Article...]

China warns U.S. trade deals off if tariff hike goes ahead

China warns U.S. trade deals off if tariff hike goes ahead Interested in China? Add China as an interest to stay up to date on the latest China news, video, and analysis from ABC News. "Moving forward with tariffs on goods imported from China will harm USA consumers and businesses, and will fail to change China's discriminatory and damaging trade practices", Dean Garfield, CEO of the Information Technology Industry Council (ITI), said in a statement ... [Full Article...]

How Trump Sealed Mark Sanford's Political Fate With a Single Tweet

How Trump Sealed Mark Sanford's Political Fate With a Single Tweet State Representative James Smith won the Democratic nomination for governor. In both parties, a dominant theme was the continued emergence of female candidates. In any event, the fact that Sanford has at times been at odds with Trump is what made Arrington such a strong challenger in the first place. Sanford said those statements " may have cost me an election in this case, but I stand by e... [Full Article...]

Rents pricing out minimum-wage workers across the USA, report says

Rents pricing out minimum-wage workers across the USA, report says The annual Out of Reach report from the National Low Income Housing Coalition analyzed every county in the USA and found that there isn't anywhere that someone working a minimum wage job, 40 hours a week, can afford a two-bedroom. In the Seattle-Bellevue metro area and King County, the numbers are higher: $26 an hour for a studio, $29 for a one-bedroom, $36 for a two-bedroom, and $52 for a three... [Full Article...]


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