Economy

Elon Musk: Rogue Employee Carried Out 'Extensive Sabotage'

Elon Musk: Rogue Employee Carried Out 'Extensive Sabotage' Musk alleged this employee tweaked code on internal products and sent company data out without authorization. The company would, he continued, "never achieve" its mission to "accelerate the transition to sustainable, clean energy" unless Tesla is able to "eventually demonstrate that we can be sustainably profitable". [Full Article...]

Trump threatens 10% tariff on $200bn of Chinese goods

Trump threatens 10% tariff on $200bn of Chinese goods The latest move raises the specter that seafood imported from China, including especially tilapia and shrimp, could be next. On July 1, Canada is set to impose retaliatory tariffs of $16.6 billion on USA products after Trump slapped tariffs on aluminum and steel - and he has threatened more to come on automobiles. [Full Article...]

Merkel, allies avert collision for now in German migrant conflict

Merkel, allies avert collision for now in German migrant conflict Mr Merkel is adamant that there needs to be a Europe-wide migrant policy, but Mr Seehofer disagrees and last week reportedly told CSU leaders in private he "can no longer work" with the chancellor. That figure fell previous year to less than 200,000. As interior minister, Seehofer has drawn up a 63-point plan for tackling migration to Germany . [Full Article...]

ICICI Bank COO position seen as temporary: Jefferies

ICICI Bank COO position seen as temporary: Jefferies Before joining ICICI Prudential in 2010, Bakhshi was deputy managing director of the bank and oversaw its retail operations. Kochhar's tenure as CEO and MD ends next March and Bakhshi's appointment as the COO - subject to regulatory approvals - seems to signal the bank is putting in place a succession plan and will be grooming him to don the CEO's mantle. [Full Article...]

Trump targets another $200 billion in China imports with tariffs

The move comes just three days after the president detailed an initial $50 billion in imports that would be taxed an additional 25 percent, which he said was punishment for the theft of intellectual property from US companies, as well as the trade gap between the two countries. [Full Article...]

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...]


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