Economy

Trump DOJ appealing judge’s OK of AT&T-Time Warner merger

Trump DOJ appealing judge’s OK of AT&T-Time Warner merger President Donald Trump , as a candidate, said , " AT&T is buying Time Warner , and thus CNN , a deal we will not approve in my administration". The company did not immediately comment on the DoJ move. president, while consumer groups have also voiced concerns over a concentration of power. "The DOJ appeal will add more noise to the story in the near term until it is heard in the courts al... [Full Article...]

Fox River Mall: longer than expected lines for Build-A-Bear event

Fox River Mall: longer than expected lines for Build-A-Bear event But the promo event took an unexpected turn on Thursday when long lines and extensive wait times forced Build-A-Bear to shutter the one-day-deal at locations in the US, UK and Canada. Build-a-Bear Workshop said in a statement that demand had been "unprecedented". Line still wraps around to the front of the mall and then inside to the store. [Full Article...]

China's Trade Surplus With the US hits record high

China's Trade Surplus With the US hits record high In the first half of the year, Chinese exports to the USA increased 13.6 percent as compared to the same period in 2017, while imports from the US only rose 11.8 percent. "Looking ahead, export growth will cool in the coming months as U.S. tariffs start to bite alongside a broader softening in global demand", Julian Evans-Pritchard, the senior China economist at Capital Economics in Singapore, ... [Full Article...]

Woolworths: No listeria detected in recalled product

Woolworths: No listeria detected in recalled product The general, symptoms include headache, fever, tiredness and aches and pains, as well as diarrhoea, nausea and abdominal cramps. People more commonly at risk or listeria contamination are the elderly, those with weak immune systems, pregnant women and their unborn babies. [Full Article...]

Iran threat to pull out oil cushion

Iran threat to pull out oil cushion Iran's vice president acknowledged Tuesday that U.S. sanctions would hurt the economy, but promised to "sell as much oil as we can" and protect banking. Iran is the third-largest exporter of crude oil in the world, behind Saudi Arabia and Russian Federation. "We are looking for a mini-term deal to buy three to four cargoes of USA oil over a period of three to six months instead of buying single ... [Full Article...]

USA threatens to impose fresh tariffs on China

USA threatens to impose fresh tariffs on China The abrupt escalation is "totally unacceptable", said a Commerce Ministry statement . Some in the US business community, while rueing the damage caused by Trump's tariffs, privately say Beijing's recent emphasis on accelerating reforms may not be a coincidence. [Full Article...]

Erdogan takes presidential oath of the office

Erdogan takes presidential oath of the office According to the amendments to the Turkish Constitution, the country abolished the position of Prime Minister , and the government will now be headed by a President. The Supreme Electoral Council confirmed Erdogan's victory in the June 24 presidential race, declaring that he won 52.59 percent of the votes. Current Foreign Minister Mevlut Cavusoglu could in theory continue in his job but report... [Full Article...]

Comcast $US34b tops Fox's offer for Sky

Comcast $US34b tops Fox's offer for Sky Fox could face further competition from the United States cable giant Comcast, however, after it forced Sky's independent directors to drop their previous backing for Fox with an unexpected £12.50-a-share bid for the group in February. The end of the week is also be the deadline for Comcast to post an offer to Sky shareholders, who then have 60 days to consider that offer under United Kingdom t... [Full Article...]

Trump readies tariffs on another $US200m of Chinese goods

Trump readies tariffs on another $US200m of Chinese goods The tariffs announced Tuesday would be the third wave. The US administration late on Tuesday released a huge list of new products that tariffs on $US200 billion worth of goods from China will be levied against. President Donald Trump has threatened higher tariffs on more than US$500 billion of goods, or almost all of China's annual exports to the United States. [Full Article...]

These U.S.-China tariffs might not be here to stay

These U.S.-China tariffs might not be here to stay Signs of nervousness about the trade outlook were evident elsewhere in global markets with the Japanese yen and the Swiss franc firm against the dollar while core USA and German bonds were in demand. China's commerce ministry says Beijing has "no choice but to fight" as U.S. prepares for enforcing tariffs on more than $34 billion in Chinese imports from Friday. [Full Article...]

Iran says no major change in oil exports despite U.S. pressure

Iran says no major change in oil exports despite U.S. pressure Iran's Petroleum Minister Bijan Zanganeh says there has been no major change in the country's production and export of crude oil despite recent threats by US President Donald Trump to halt the oil trade activities of the Islamic Republic. [Full Article...]

USA to slap tariffs on extra $200 billion of Chinese imports

USA to slap tariffs on extra $200 billion of Chinese imports The United States and China launched what Beijing called the "biggest trade war in economic history" Friday, July 6, imposing tariffs on billions of dollars of each other's goods amid a spiraling dispute over technology. Tne Trump administration has announced additional China tariffs, say insiders. Chinese authorities implemented tit-for-tat tariffs on key U.S. exports into China, including some... [Full Article...]

Erdogan names army chief top general in military shake-up

Erdogan names army chief top general in military shake-up Erdogan narrowly won a referendum past year to replace Turkey's parliamentary democracy with a system featuring an all-powerful presidency, and followed that with a hard-fought election victory last month to the newly strengthened post. The lira has been battered by concern about Erdogan's drive for lower interest rates and by comments in May that he planned to take greater control of the economy ... [Full Article...]

U.S. and China on brink of trade war, oil markets tense

U.S. and China on brink of trade war, oil markets tense It shows the year-on-year percentage growth in U.S. non-farm payrolls, splitting the results by oil and non-oil producing states. Cutting Iran out from oil trading comes amid other disruptions. The tightness at Cushing and the potential increase in Gulf exports "both have implications for how quickly the prompt overhang in the market can clear, and thus provide some direction for prices", Chau... [Full Article...]

Starbucks to eliminate plastic straws by 2020

Starbucks to eliminate plastic straws by 2020 Starbucks's hometown of Seattle, for example, banned plastic straws and utensils beginning this month, while the California cities of Davis and San Luis Obispo prohibit restaurants from handing out plastic straws unless a customer requests one. [Full Article...]

Employment gains, job hunter influx clears way for rate hike

Employment gains, job hunter influx clears way for rate hike Job gains of 213,000 in June topped projections, Labour Department figures showed yesterday. But retailers cut 21,600 jobs last month, after boosting payrolls by 25,100 in May.Government payrolls increased by 11,000 jobs in June. Economists project that the GDP growth will maintain the yearly pace of 4% or even higher in the second quarter. Wages were being carefully watched by economists for si... [Full Article...]

United States job growth strong but unemployment rate rises to 4%

In spite of healthy job growth, wage growth is especially weak in manufacturing, rising just 1.7 percent over the previous year. Workers who haven't gone to college accounted for all of this month's net increase in the labor force and employment. [Full Article...]

Charting the US-China trade battle

Charting the US-China trade battle With additional tariffs on Chinese products worth US$34 billion made effective on Friday, the United States has taken a risky step that will take a toll on its own economy. "China would never start a trade war but if any party resorts to an increase of tariffs then China will take measures in response to protect development interests". [Full Article...]

What's behind the rise in the oil price?

What's behind the rise in the oil price? Recently the price of West Texas Crude hit $75 a barrel, and I think before the end of the summer, we may well see $85 a barrel. Trump late on Wednesday accused the Organization of Petroleum Exporting Countries ( OPEC ) of driving up fuel prices. [Full Article...]

Micron Technology | $MU Stock | Shares Slump On Memory Chip Ban

Micron Technology | $MU Stock | Shares Slump On Memory Chip Ban Washington says the measures are a response to intellectual property theft by China. However, sources close to the company say it is now drafting a response to the ruling by the Fuzhou Intermediate People's Court of the People's Republic of China. [Full Article...]


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