Economy

India warned OPEC of high oil prices shrinking demand

India warned OPEC of high oil prices shrinking demand The Organization of the Petroleum Exporting Countries and other top crude producers agreed to raise output from July by about 1 million barrels per day (bpd), after Saudi Arabia persuaded arch-rival Iran to cooperate. Both natural gas and LPG could replace auto fuels as well as industrial fuel produced from crude oil , they said, adding renewable energy sources like solar and wind energy ar... [Full Article...]

Trump administration to use review panel to curb China tech investments

Trump administration to use review panel to curb China tech investments Washington and Beijing are sparring over China's attempts to supplant USA technological dominance, through cyber-theft and policies that force American companies to hand over technology in exchange for access to the Chinese market. "We're going to treat China the way we're going to treat other people, and to the extent that we're anxious about transactions, we will block them, Mnuchin said on CN... [Full Article...]

Trump threatens Harley-Davidson over production move

Trump threatens Harley-Davidson over production move The E.U. announced plans to place retaliatory tariffs on USA. products like motorcycles, cranberry juice, peanut butter and whiskey in response to Trump's hefty tariffs on steel and aluminum imports. Trump himself once said, "Harley-Davidson is a true American icon, one of the greats". The E.U., Mexico and Canada were initially excluded from the tariffs when Trump announced them in March, ... [Full Article...]

China, France Agree To Expand Trade, EU Raises "Difficult Issues"

China, France Agree To Expand Trade, EU Raises U.S. Defence Secretary Jim Mattis arrived in Beijing on Tuesday for meetings with senior Chinese leaders, as the world waits for indications that North Korea is taking steps to dismantle its nuclear program following the summit between President Donald Trump and North Korean leader Kim Jong Un. [Full Article...]

Trump warns Harley-Davidson against moving production out of the US

Trump warns Harley-Davidson against moving production out of the US Harley-Davidson expects ramping-up production in worldwide plants will require incremental investment and could take at least 9 to 18 months to be fully complete. Trump, however, deflected blame today via a tweet, citing taxes as being nothing more than an excuse on the part of Harley Davidson . Harley-Davidson has fallen 20% this year. [Full Article...]

Iran's president says his country is in "economic fight" with U.S.

Iran's president says his country is in The Iranian rial is under heavy pressure from the threat of USA sanctions and reports indicate the Iranian people are not happy about it. After US president Donald Trump made a decision to withdraw from world powers' deal with Iran on its nuclear program, some US sanctions are to be reimposed in August and some in November. [Full Article...]

Turkey's Erdogan Wins New Term In Poll Criticized By Monitors

Turkey's Erdogan Wins New Term In Poll Criticized By Monitors Turkish President Recep Tayyip Erdogan has won tightly-contested presidential polls, the election authority said Monday, extending his 15-year grip on power as the opposition complained bitterly about the conduct of the vote count. The election result has created clarity, but it will take much more to create longer-term confidence in Turkey. In separate parliamentary elections, the governi... [Full Article...]

United States to limit Chinese investment in American tech firms

Among some of the more notable declining stocks in Canada: Suncor Energy Inc. fell 3.5 per cent, National Bank of Canada fell 2.4 per cent and marijuana producer Canopy Growth Corp. As well, US motorcycle maker Harley-Davidson said on Monday that it would move some production overseas to avoid European tariffs, potentially affecting U.S.jobs. [Full Article...]

Harley-Davidson US production a casualty in Trump tariff war

Harley-Davidson US production a casualty in Trump tariff war Those 25 percent tariffs were imposed last week by European Union officials in response to the Trump administration's decision to place tariffs on steel and aluminum imported from Europe. In a piece by the Washington Post , the Mid-Continental nail, one of the country's largest manufacturers of nails, say they will be laying off approximately 60 employees as a direct result of the European ... [Full Article...]

United States plans limits on Chinese investment in technology firms

United States plans limits on Chinese investment in technology firms Last Monday, President Donald Trump said he asked the USA trade representative to identify an additional $200 billion worth of Chinese goods for a 10 per cent tariff. As she pointed out, China is now "the largest or second-largest source of sales and profits for many US multinationals". Navarro, appearing on CNBC at 3 p.m., appeared to reverse the course set by Mnuchin-and with it the market. [Full Article...]

MHP leader Bahçeli hails ‘historic success’ in Turkey’s elections

MHP leader Bahçeli hails ‘historic success’ in Turkey’s elections Turkey's President Recep Tayyip Erdogan won a decisive victory in an election that will give him five more years in office with sweeping new powers. Since Recep Tayyip Erdogan first became prime minister in 2003, the lira has lost 65% of its value against the United States dollar. Malaysian opposition leader Anwar Ibrahim expressed his "heartiest congratulations" in a letter to the Turkish pr... [Full Article...]

Trump Tariffs Just Got A Black Eye From Harley-Davidson

Trump Tariffs Just Got A Black Eye From Harley-Davidson To help mitigate some of the costs, the company also said it "will be implementing a plan to shift production of motorcycles for European Union destinations from the U.S. "The tremendous cost increase, if passed onto its dealers and retail customers, would have an immediate and lasting detrimental impact to its business in the region", the company said. [Full Article...]

European Union supporters rally in London for public vote on Brexit terms

European Union supporters rally in London for public vote on Brexit terms Hunt also dismissed criticism of government claims that the £20bn spending boost to the NHS would come partly from a " Brexit dividend" - which the Institute for Fiscal Studies has said does not exist, given economic forecasts about the impact on growth of leaving the EU. [Full Article...]

Greece 'turning a page' as eurozone agrees debt relief

Greece 'turning a page' as eurozone agrees debt relief Finance Ministers from the 19 countries that use the single currency are seeking to agree on debt relief and a sizeable cash cushion for Greece that will reassure financial markets on the ability of Athens to stand on its own. The extension of maturities and deferral of interest and amortisation payments are to reassure investors that Greece can handle servicing its debt long into the future - a c... [Full Article...]

Supreme Court Let States Tax Online Shopping

Supreme Court Let States Tax Online Shopping What it means for out-of-state retailers is that sales tax nexus is no longer exclusively based on a physical presence standard. When Quill was decided, "the court could not have envisioned a world in which the world's largest retailer would be a remote seller", namely, Amazon , Kennedy said. [Full Article...]

AMC Theatres’ $20 Monthly Subscription Plan Rivals MoviePass

AMC Theatres’ $20 Monthly Subscription Plan Rivals MoviePass Variety reported that the company pays full price for tickets and then discounts them. Its parent company, Helios and Matheson Analytics, said in a filing with the Securities and Exchange Commission on Thursday that MoviePass' monthly losses soared to $40 million in May because of its subscriber growth ( it passed 3 million this month). [Full Article...]

Eurozone gets deal to pave way for end to Greece's bailout

Eurozone gets deal to pave way for end to Greece's bailout An activist who urged Greeks not to pay their taxes, claiming he had access to enough money to pay off the country's enormous debt, has been remanded in custody pending trial on criminal fraud charges. A deal to ease Greek debt has always been seen as a key ingredient in the country's successful return to economic health and foray back into financial markets. [Full Article...]

Trump mulls steep tariff on European Union autos

Trump mulls steep tariff on European Union autos Section 232 investigations into the national security implications of automobile imports, which was initiated by the Trump administration last month has provoked widespread opposition from USA lawmakers, business groups and major trading partners, Xinhua reported . [Full Article...]

Oil up nearly 3 percent as OPEC agrees to raise output

Oil up nearly 3 percent as OPEC agrees to raise output It's a dramatic policy change for the organisation known as OPEC . On Saturday, non-OPEC oil producers agreed to participate in the pact but a communique issued after their talks with the Vienna-based group provided no concrete numbers amid deep disagreements between OPEC arch-rivals Saudi Arabia and Iran. [Full Article...]

Connecticut Retailers Applaud Supreme Court Decision On Online Sales Tax

Connecticut Retailers Applaud Supreme Court Decision On Online Sales Tax What it means for out-of-state retailers is that sales tax nexus is no longer exclusively based on a physical presence standard. "Retailers have been waiting for this day for more than two decades". Five states don't charge sales tax. Many believe brick-and-mortar stores will get a boost in traffic if shoppers see there is no clear financial advantage to shopping online. [Full Article...]


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