Economy

New Trump tariffs may force Moog to lay off workers

New Trump tariffs may force Moog to lay off workers Reuters was the first to report on the campaign Monday. Trump is also considering a 20 percent tax on imported cars in the name of national security , and has tariffs on $200 billion in Chinese goods. economy would face if Trump followed through on his threat. Taking countermeasures against recent tariffs put on imported aluminum and steel as a guideline, the report assesses potential indirect... [Full Article...]

President Trump: EU Possibly Bad as China on Trade, Just Smaller

SC is not the only state expected to suffer, Iowa pork producers could lose $560 million from a Mexico tariff on the product. Trump's taunt was the latest salvo in an escalating trade war that saw the EU slap duties on US-made jeans and Harley Davidson motorcycles in a tit-for-tat response to USA tariffs on European steel and aluminium exports. [Full Article...]

Struggling smartphone maker HTC to slash 1,500 jobs in Taiwan

Struggling smartphone maker HTC to slash 1,500 jobs in Taiwan HTC WILL SLICE 1,500 workers from its Taiwanese factories as it goes on the hunt to turn a profit, according to Engadget and Bloomberg Taipei's Samson Ellis. Earlier this year, HTC reported a 55.5% plunge in April revenues year-over-year and a 46.7% slide in March sales. And let's not forget about last year's deal with Google , which included around 2,000 departures of smartphone design ... [Full Article...]

Amazon Prime Day to give Indian customers many firsts

Amazon Prime Day to give Indian customers many firsts The usual cost is £7.99 per month (£9.99 per month for non-Prime members), so that's a saving of £28 (or £36). U.S. e-commerce company Amazon's annual shopping event Prime Day will be available to Singaporeans for the first time ever. [Full Article...]

Iran announces plan to circumvent United States oil sanctions

Iran announces plan to circumvent United States oil sanctions Iran will allow private companies to export crude oil, part of a strategy to counter U.S. sanctions, and is urging fellow OPEC members, including regional rival Saudi Arabia, not to break output agreements, state media and officials said on Sunday. [Full Article...]

If WTO Doesn't Treat US 'Properly, We Will Be Doing Something'

White House spokeswoman Lindsay Walters said in response , "It is no secret that POTUS has had frustrations with the unfair imbalance of tariffs that put the U.S.at a disadvantage". In the Axios story on the leaked text, the legislation is referred to as the " United States Fair and Reciprocal Tariff Act ". During the meeting with Rutte, Trump said he was "very close" to reaching a number of ... [Full Article...]

Dell is becoming a public company again after 5 years

Dell is becoming a public company again after 5 years Dell bought EMC in 2016 for $67bn, gaining a dominant position in enterprise storage and hyper-converged infrastructure systems. The move will mark the culmination of a strategic review that Dell has been conducting for several months as it has sought to consolidate its complicated ownership structure without overburdening its balance sheet, which bears around $50 billion (£37.97 billion) in de... [Full Article...]

GM says new wave of tariffs could force United States job cuts

GM says new wave of tariffs could force United States job cuts US automaker General Motors (GM) warned that the extra tariffs on imported vehicles could risk jobs in the United States and lead to a reduced presence domestically and internationally. "We want to explain how tariffs on auto imports may jeopardize them both". America's largest carmaker has added its voice to the chorus of companies and countries criticising proposed USA tariffs on foreign car... [Full Article...]

Iran vice president says private sector to buy, export oil

It comes as Mr. Trump pulled the USA out of Tehran's nuclear deal with world powers in May. Some key countries are reliant on Iranian oil imports, including India and Turkey. Oil prices rose strongly last week, with the USA crude contract hitting its highest in 3-1/2 years at $74.46. Trump, who is spending the weekend at his golf property in New Jersey, said in a tweet on Saturday that Saudi... [Full Article...]

Orders of LeBron James Lakers jerseys spike

Orders of LeBron James Lakers jerseys spike After one year with the Thunder, George liked the organization enough to re-sign there on a four-year deal instead of joining the Lakers . Their 35 wins last season were their most since 2012-13, leaving uncertainty about what this team is capable of doing even after signing one of the best players in National Basketball Association history. [Full Article...]

Saudi Arabia not confirming Trump's 2M barrels

Saudi Arabia not confirming Trump's 2M barrels It was only a few days ago that Saudi Arabia and its coalition partners said that they would add 1 mb/d of supply back onto the market, with many of them acknowledging that, in reality, the figures would be closer to 600,000 bpd because of the inability of so many producers to ratchet up output. [Full Article...]

Trump risks '£294bn' trade tariff reprisals

EU officials also said around 60-percent of US -made cars of European brands are exported into third countries, which benefits the USA economy. So far, the EU has only imposed duties on $3.2 billion of US products such as whiskey and peanut butter, as retaliation for President Trump's tariffs on imported European steel and aluminum. [Full Article...]

Iran to allow private sector to export oil, beat USA sanctions

Iran to allow private sector to export oil, beat USA sanctions His remarks came in the light of his controversial decision earlier this year to pull America out of the Iran nuclear deal and reimpose sanctions - a move strongly opposed by Europe. Oil prices rose last week on worries that USA sanctions against Iran would take away significant volumes of crude oil from world markets while oil demand worldwide increases . [Full Article...]

Elon Musk Hails Tesla Reaching Goal Of 5000 Model 3s A Week

Elon Musk Hails Tesla Reaching Goal Of 5000 Model 3s A Week According to Reuters , the 5,000th Model 3 completed its final checks at around 5 a.m. PDT, several hours after the midnight target set by CEO Elon Musk . "We did it!" Musk wrote in an email to the company, as reported on the website Electrek, which follows Tesla closely. One worker told Reuters that, to meet the goal, employees from other departments were dispatched to parts of the Mod... [Full Article...]

‘Lost-at-sea’ cruise worker found alive 22hrs after falling overboard

‘Lost-at-sea’ cruise worker found alive 22hrs after falling overboard The U.S. Coast Guard posted the following tweet after the successful rescue operation. "Kudos to the Carnival Glory team for this awesome effort to rescue a fellow seafarer". #BreakingNews Missing cruise ship crewmember found and rescued 21 miles north of Cuba. The man was spotted going overboard at 3:10 Saturday. By nightfall, the search was suspended, and the crew member was presumed dead. [Full Article...]

Amazon Wants To Pay You To Be A Delivery Person

Amazon Wants To Pay You To Be A Delivery Person The move gives Amazon more ways to ship its packages to shoppers without having to rely on UPS, FedEx and other package delivery services. Delivery partners who are accepted into the program could earn about $300,000 in annual profits operating a fleet of up to 40 delivery vehicles. [Full Article...]

Saudi king said will boost oil output if needed: White House

Saudi king said will boost oil output if needed: White House It did not elaborate. At the same time, factional fighting in Libya is causing a large outage, while the oil output of Venezuela, once a major producer, has fallen by around 1 million barrels a day over the last two years, with further steep declines possible in the coming months. [Full Article...]

Adidas is the latest company to suffer a data breach affecting millions

Adidas is the latest company to suffer a data breach affecting millions Other high profile data breaches from this month include a carphone hack, ticket website breach, and massive Facebook privacy bug. In the latest cybersecurity incident to impact the footwear industry, athletic giant Adidas has had to inform an unknown number of online shoppers that an unauthorized party may have acquired their data. [Full Article...]

Florida Class Action Claims Exactis Breach Affects 230 Million Americans

Florida Class Action Claims Exactis Breach Affects 230 Million Americans A little-known Florida company may have exposed the personal data of almost every American adult, according to a new report. The information didn't include credit card details or social security numbers, but it did include everything from email addresses, home addresses and phone numbers to details on religion, smoking habits, and pets. [Full Article...]

Trump says Saudi king agrees to raise oil output by 2m barrels

Trump says Saudi king agrees to raise oil output by 2m barrels But in a statement Saturday evening, the White House said King Salman bin Abdulaziz affirmed that Saudi Arabia has 2 million barrels per day (bpd) of spare production capacity "which it will prudently use if and when necessary to ensure market balance and stability , and in coordination with its producer partners, to respond to any eventuality". [Full Article...]


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