Economy

OECD: S. Korean Economy to Grow 3% in 2018, 2019

The Organization for Economic Co-operation and Development (OECD) increased its GDP economic growth prediction for Chile for 2018 from 2.8 to 3.6 percent, it announced on Wednesday. At the same time, Australian exports will also boost the expansion, especially as the greater capacity in the mining sector through billions of dollars of investment comes on stream. [Full Article...]

EU hits back at Trump amid trade war fears

EU hits back at Trump amid trade war fears In a statement to The Associated Press, Volkswagen said it views the tariffs with "regret and concern". "This is stupid. It's counterproductive", former British trade minister Francis Maude told BBC . Trump says - as he has many times before - that NAFTA has been a bad deal for the United States, while its North American trading partners make "many billions of dollars" at the expense of A... [Full Article...]

Deutsche Bank CEO Says Staff Are ‘Sick and Tired’ of Bad News

Deutsche Bank's new CEO has moved to reassure staff that the bank is in good shape after a tough 24 hours for the troubled German lender. On Thursday, it emerged that the US Federal Reserve had determined Deutsche's vast US business was in "troubled condition" - raising further questions about risk levels at the bank. [Full Article...]

Canada's Trudeau blasts "totally unacceptable" Trump tariffs, announces counter-tariffs

Canada's Trudeau blasts Trump announced worldwide steel and aluminum tariffs in March but granted exemptions to some major trading partners. The White House announced negotiations with Mexico , Canada and the European Union did not go so well and from Friday, the USA would slap the three allies with steel and aluminium tariffs . [Full Article...]

Socialist leader Pedro Sanchez becomes Spanish prime minister

Socialist leader Pedro Sanchez becomes Spanish prime minister The end of Rajoy's more than six-year reign as Spanish prime minister was the first ouster of a serving leader by parliament in four decades of democracy. Spain's center-right Ciudadanos (Citizens) party is vowing fierce opposition to the incoming minority Socialist government, urging prime minister-designate Pedro Sanchez to call an early general election. [Full Article...]

Markets Right Now: Banks lead stocks higher on Wall Street

Markets Right Now: Banks lead stocks higher on Wall Street At the close of trade, the Dow Jones Industrial Average was down 391.64 points, or 1.58 per cent, to 24,361.45, the S&P 500 lost 31.47 points, or 1.16 per cent, to 2,689.86 and the Nasdaq Composite dropped 37.26 points, or 0.5 per cent, to 7,396.59. [Full Article...]

Krispy Kreme celebrates National Doughnut Day with free doughnuts

Krispy Kreme celebrates National Doughnut Day with free doughnuts Walmart: Get one free glazed doughnut on Friday. Several restaurant chains are going the unconventional route to draw customers for National Donut Day . 13002 Seminole Blvd., Suite 7, Largo. Shoppers who stop by the bakery at Walmart will be treated to a complimentary glazed donut, while pizza chain Papa John's is using the opportunity to roll out donut holes for a limited time . [Full Article...]

French group files GDPR complaints against Facebook, Google, Apple, Amazon, LinkedIn

French group files GDPR complaints against Facebook, Google, Apple, Amazon, LinkedIn The General Data Protection Regulation (GDPR ) is a strict set of rules passed by the European Union that gives users more control over their data. Schrems also filed a lawsuit against Instagram and WhatsApp for the same $1.63 billion penalties , amounting to a grand total of more than $4.5 billion against Facebook. [Full Article...]

EU, Canada And Mexico Threaten Tariffs To Retaliate Against U.S.

EU, Canada And Mexico Threaten Tariffs To Retaliate Against U.S. Washington will announce plans to slap tariffs on European Union steel and aluminium imports as early as Thursday morning, sources said , while the USA commerce secretary said any escalation of their trade dispute would depend on the bloc's reaction. [Full Article...]

US to impose tariffs on European Union steel, aluminum

US to impose tariffs on European Union steel, aluminum The European Commission, which coordinates trade policy for the 28 EU members, has said the bloc should be permanently exempted from the tariffs since it is an ally and not the cause of steel and aluminum overcapacity. The shares of American steel producers, which have supported the tariffs, rose across the board on Thursday. Canadian Foreign Minister Chrystia Freeland had traveled to Wash... [Full Article...]

Amazon US Website Blocked In Australia

Amazon US Website Blocked In Australia United States internet giant Amazon will block Australian shoppers from its global websites to counter new tax laws on online purchases, it announced Thursday. We speculated this might happen back when Amazon Australia was about to launch. Shares of local e-commerce site Kogan.com Ltd closed up 0.8 percent while shares of electronics retailers JB Hi-Fi Ltd and Harvey Norman Holdings Ltd, seen ... [Full Article...]

Giuseppe Conte fails to form populist government in Italy

Giuseppe Conte fails to form populist government in Italy The parliamentary election , held on March 4, failed to produce a clear victor but saw support for traditional parties collapse. Conte, who was virtually unknown until last week, was chosen by the leaders of the League and 5-Star to be prime minister after weeks of negotiations. [Full Article...]

Tesla Model 3 Gets Recommended Rating From Consumer Reports After Brake Update

Tesla Model 3 Gets Recommended Rating From Consumer Reports After Brake Update Ultimately, the Model 3 firmware update pushed out this past weekend was enough to raise the compact electric car's Overall Score enough to warrant a "Recommended" rating. Will request that they test current production, ' he wrote. After giving Tesla (TSLA) a failing grade on its Model 3 sedan, Consumer Reports reversed its position Wednesday and gave the electric vehicle its recommendatio... [Full Article...]

SIA to launch world's longest commercial flights on Oct 11

SIA to launch world's longest commercial flights on Oct 11 Singapore Airlines will launch the world's longest non-stop flight route in October with a plane that offers no economy class seating. The route will be aimed at business passengers, offering 67 seats in business class and 94... The new A350s are more integrated into the Singapore Airlines fleet. It will also restart non-stop services to Los Angeles with the A350-900 ULR. Changi Airport Gro... [Full Article...]

Canadian government to buy pipeline project from Kinder Morgan for $4.5bn

Canadian government to buy pipeline project from Kinder Morgan for $4.5bn Export Development Canada will finance the purchase, which includes the pipeline, pumping stations and rights of way along the route between Edmonton and Vancouver, as well as the marine terminal in Burnaby, B.C., where oil is loaded onto tankers for export. [Full Article...]

Fraudsters May Have Accessed Some BMO & CIBC Customers Data

Fraudsters May Have Accessed Some BMO & CIBC Customers Data Canadian lenders including Toronto-Dominion Bank , Royal Bank of Canada, Bank of Nova Scotia and National Bank of Canada said they haven't been targeted. One customer, interviewed by CBC News , confirmed that $980 had been fraudulently transferred from his Simplii Financial account on Saturday, May 26. [Full Article...]

Oil prices mixed, but pressure builds on expected crude output increase

Oil prices mixed, but pressure builds on expected crude output increase Saudi Arabia clearly favours higher oil prices as their fiscal deficit target is dependent on oil prices. To be certain of this, Saudi Arabia keeps advocating for the reduction of oil production from the Organisation of Petroleum Exporting Countries ( OPEC ), which for the first time, have been really effective through various agreements signed among the OPEC member states. [Full Article...]

India's top fuel retailer trims petrol, diesel prices

India's top fuel retailer trims petrol, diesel prices Prior to this, the country's largest fuel retailer had reported a bigger cut, as much as Re 1, in the fuel prices. "The reduction was supposed to be 1 paisa but due to a clerical error the price prevalent on May 25 was communicated as today's price", news agency Press Trust of India cited a senior official of Indian Oil Corporation as saying. [Full Article...]

Tesla Model S in Autopilot collides with police SUV

Tesla Model S in Autopilot collides with police SUV The Tesla driver, identified only as a 65-year-old man, sustained minor injuries. The impact of the crash pushed the police SUV onto a sidewalk and left both vehicles with substantial damage. The $5 million settlement dropped any usage of the word "dangerous", according to Reuters , and instead was officially paid out to resolve disputes over delayed updates to the Model S and Model X autopilot... [Full Article...]

US to Put Limits on Some Visas for Chinese Citizens

US to Put Limits on Some Visas for Chinese Citizens The United States and China subsequently conducted two rounds of trade talks aimed at avoiding a full-blown trade war . All of these announcements should be taken with a shaker's worth of salt though, since these are just the latest cards being played in a series of interconnected negotiations both internal to the White House and external with the Chinese government. [Full Article...]


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