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China won't devalue yuan to boost exports, says Premier Li


Trump has threatened to " immediately pursue phase three ", which could include tariffs on another $267 billion of Chinese exports. China has vowed to retaliate further against any new USA tariffs, with state-run media arguing for an aggressive "counter-attack". Read More »

Trump makes trade announcement at the White House, possibly on NAFTA deal


Trump said the conference call, which was broadcast live on television on Monday, was being held to "celebrate the understanding" the United States and Mexico have reached on trade, calling it "an incredible deal for both parties". NAFTA is blamed for hastening the demise of US manufacturing as automakers and other manufacturers moved factories south of the Rio Grande. A formal ceremony, Trump said, will take place later. Read More »

Verizon Throttled Data During Deadly Wildfire in California


The executives spoke shortly after hearing from Santa Clara County Fire Chief Tony Bowden who said that his agency had experienced similar throttling in December 2017. "It really truly is meant for the rigors of first responders and how we need it", he said. However, these functions typically require 5-10 GB of data usage per day, so OES 5262 quickly used the 25 GB monthly allotment of broadband data capacity under its Verizon data plan. Read More »

National Enquirer Executives Had Safe Containing Dirt on Trump


Trump, pleaded guilty on Tuesday to campaign finance violations and other charges. Weisselberg's name was invoked on an audio recording released by Cohen's attorney, Lanny Davis, that captured then-nominee Trump talking with Cohen about a payment to acquire the rights to the story of a former Playboy model who had said she and Trump had an affair, which the Trump campaign later denied. Read More »

Tesla Go-Private Effort Advances With Board Panel to Study Offer


Elon Musk has a big plan to take Tesla private. The board had confirmed earlier this month that it had "met several times over the last week" to discuss going private. The special committee is composed of independent directors Brad Buss , Robyn Denholm and Linda Johnson Rice . Denholm, the first woman on Tesla's board, is chief operations officer of telecom firm Telstra and the former chief financial officer of network gear maker Juniper Networks (JNPR.N). Read More »

Man who stole plane and died in crash had North Dakota ties


The family members of the man who stole an airplane and took it on a joy ride that cost him his life described him as "warm and compassionate" and said they are "stunned and heartbroken" over his death. Russell's family said in a statement that they are stunned and heartbroken. Pierce County Sheriff's spokesman Ed Troyer told the Bellingham Herald that information was preliminary regarding the developing incident. Read More »

Turkey says Trump tariff move will harm ties, vows retaliation


Trump tweeted. "Aluminum will now be 20% and Steel 50%. Erdogan appealed to a crowd in the city of Bayburt to exchange dollars and gold for Turkish lira to prop up the plunging currency. "One of our principles will be ensuring the full independence of monetary policy", Abayrak said as he outlined his ministry's "new economic model". Read More »

Iranian naval drill a warning on sanctions, says United States general


On Monday, Rouhani said Iran was ready to enter talks with the US if Washington compensated the country for past damages. AJC Executive Director David Harris also commented on Trump's action, saying, "We support the USA decision". Despite threats voiced by Washington, a number of countries have refused to bow to Trump's demands to cut ties with Iran. A second batch of United States sanctions will be re-imposed on Iran in November with the aim of undermining its oil exports and shipping ... Read More »

China hits back at U.S. with $60bn tariff threat

Chinese and U.S. flags are set up for a signing ceremony during a visit by U.S. Secretary of Transportation Elaine Chao at China's Ministry of Transport in Beijing, China April 27, 2018. Still, two senior diplomats met earlier on Friday on the sidelines of a regional summit in Singapore. "China always believes that consultation on the basis of mutual respect, equality and mutual benefit is an effective way to resolve trade differences", the Ministry said. Read More »

Facebook creates new China subsidiary despite ban and censorship


Google , whose main services are also blocked in China, has likewise taken steps to expand its presence in China this year. On Tuesday, a screenshot purporting to be a filing for the entity on China's National Enterprise Credit Information Publicity System website went viral on WeChat and Weibo, before the news crossed over into the English-language realm and was eventually confirmed by a Facebook spokesperson. Read More »

Facebook and Twitter face uncertain road ahead


But it is a necessary strategy if Twitter is to gain the trust of many advertisers. But the company gave a forecast for third-quarter earnings before interest, taxes, depreciation and amortization of as much as $235 million, falling short of analysts' average estimate of $268 million. Read More »

US trade threats, intimidation won't ever work: China


The yield on USA 10-year Treasuries rose 7 basis points to a month-high 2.96 percent as investors weighed up the impact of a new policy framework for the Bank of Japan, which has been buying government bonds as a means to stir inflation in the world's third-biggest economy. Read More »

Dollar drops further on Trump's comments on currency, rate hike

During the interview , Trump himself predicted the response: "Now I'm just saying the same thing that I would have said as a private citizen", he said. The Fed has hiked interest rates five times since Mr. Trump took office, with the last two increases coming under Chairman Jerome Powell , whom the president picked to replace Janet Yellen . Read More »

Tesla announces deal for Shanghai factory


Tesla sales in the China market have also slowed considerably. As the trade war between the us and China ( as well as the rest of the world ) escalates, Tesla announced Tuesday an agreement with Chinese officials to build a new factory in Shanghai, reports Reuters . Read More »

US adds a solid 213,000 jobs; unemployment up to 4 pct


The unemployment rate rose to 4.0 percent from an 18-year low of 3.8 percent in June as more people entered the labor force in a sign of confidence in the jobs market. The Trump administration has also applied tariffs on steel and aluminum from allies like Canada and Mexico and has threatened to abandon the North American Free Trade Agreement with those two countries. Read More »

President Trump Hopes For Good Ties With New President-Elect Of Mexico


Andrés Manuel López Obrador's success in the Mexican presidential election Sunday could pose profound implications for renegotiating the North American Free Trade Agreement (NAFTA). For some, one is an economic elite of the far right, while the other is a representative of the nefarious Latin American new left. This conciliatory tone and talk about "reaching an understanding" with the United States after the election is not what many of his voters want to see. Read More »

Iran Aims to Keep Oil Exports Flowing Despite US Sanctions

The Wall Street Journal in turn cited a high-ranking Saudi official as saying that Riyadh made no concrete promises to Trump but assured him of its ability to satisfy the market's demands. and surely one day it will pay the price of this treason". Brian Hook, the senior official leading negotiations with United States allies on a new Iran strategy, said Washington is confident the world has enough spare oil capacity to replace Iranian crude. Read More »

Amazon's Pharmacy Deal Threatens Retail Drugstores


The company, which has its primary pharmacy in Manchester, New Hampshire, ships to all states except Hawaii. The firm says it is 'designed to provide the best possible customer experience in the USA for people who take multiple daily prescriptions'. Read More »

Thousands of tourists stranded as Bali volcano eruption closes airport


The budget airline said in a statement that the Ngurah Rai International Airport was closed today, from 3am to 7pm. Meanwhile, a check yesterday evening with Changi Airport's website found that AirAsia Flight QZ508, which was scheduled to land in Singapore at 8.20pm from Denpasar airport, had been cancelled. Read More »

Harley to shift some production overseas, Walker pushes for ending all tariffs


Trump praised Harley-Davidson as an "American icon, one of the greats" and expressed confidence the company would expand USA manufacturing under his administration. Harley said ramping-up production at its overseas global plants will require incremental investments and could take at least nine to 18 months. Passing along that cost to consumers would have " an immediate and lasting detrimental impact " to Harley-Davidson's sales in Europe. Read More »

Iran rejects plan to raise oil output within OPEC


Benchmark Brent crude LCOc1 was unchanged at $75.08 a barrel by 1037 GMT. Zanganeh cited recent demands for a production increase from U.S. President Donald Trump as a reason to oppose it. Iran believes that OPEC is not a political body and so any politicizing of oil market and political use of oil against oil producers and consumers should be rejected, he highlighted. Read More »

Global shares rise, oil prices jump on OPEC news


The green light was widely expected after energy ministers from the 14-member Organization of Petroleum Exporting Countries already agreed on Friday to raise output by one million barrels a day from July. The group said compliance reached 152 percent in May 2018, which means OPEC was cutting about 600,000 bpd more than it intended. Worldwide marker, Brent, traded above US$100 a barrel for several years until 2014, dropping to nearly US$26 in 2016 and then recovering to over US$80 last month. Read More »

US Stocks Open Higher on Bargain Hunting


In addition to the second set of tariffs, the USA president also threatened to hit China with a third wave of measures - an additional 10% on another $200 billion worth of Chinese goods - if China rolled out its own tariffs. Trump has raised trade tensions on other fronts as well. The US leader warned Friday of "additional tariffs" should Beijing hit back with tit-for-tat measures. Read More »

Merkel: EU should be more independent of IMF


Macron wants to turn Europe's existing bailout fund into a European Monetary Fund (EMF), to act as a buffer in any future financial crises in the bloc, which was almost torn apart in a debt crisis in 2009. German Chancellor Angela Merkel met European Central Bank President Mario Draghi on Monday for an exchange of views, Merkel's spokesman said, as part of her regular informal meetings with leaders of European institutions. Read More »

China reserves right to retaliate for U.S. investment curbs


The additional tariffs will have an impact on agriculture, but the extent of the fallout will depend on how things play out in trade talks between the two countries this week in Beijing, he said. Chris Van Hollen, a Maryland Democrat. But the talks are running into the complications of Mexican elections in July and the USA midterm elections in November along with a dispute over rules for vehicle production. Read More »

Amazon US Website Blocked In Australia

Australian shoppers using Amazon's global site will be unable to place orders, with the retail giant stopping shipping due to new GST rules. USA internet giant Amazon will block Australian shoppers from its worldwide websites to counter new tax laws on online purchases, it announced Thursday. Read More »