Markets
Trump readies tariffs on another $US200m of Chinese goods
- July 12, 2018
But there's also services: The U.S. now provides a little over $50 billion in services to China, while China does far fewer services for us . "This disruptive approach to trade policy endangers the gains that the $404 billion plastics industry has made as a result of this administration's achievements on comprehensive tax and regulatory reform", said Bill Carteaux, president and CEO. (more...)
- July 12, 2018
But there's also services: The U.S. now provides a little over $50 billion in services to China, while China does far fewer services for us . "This disruptive approach to trade policy endangers the gains that the $404 billion plastics industry has made as a result of this administration's achievements on comprehensive tax and regulatory reform", said Bill Carteaux, president and CEO. (more...)
Erdogan assumes new presidential powers, tightening control over Turkey
- July 12, 2018
Erdoğan took the oath of office in a ceremony in the Grand National Assembly, the culmination of almost a decade of political activism to transform the country's parliamentary democracy into a presidential system. "With the power granted to us by the new presidential system, we will get quicker and stronger results". Erdogan's son-in-law Berat Albayrak, a former energy minister, has been appointed minister of treasury and finance, overseeing the economy. (more...)
- July 12, 2018
Erdoğan took the oath of office in a ceremony in the Grand National Assembly, the culmination of almost a decade of political activism to transform the country's parliamentary democracy into a presidential system. "With the power granted to us by the new presidential system, we will get quicker and stronger results". Erdogan's son-in-law Berat Albayrak, a former energy minister, has been appointed minister of treasury and finance, overseeing the economy. (more...)
Comcast is expected to raise its offer for Sky
- July 12, 2018
The pursuit for Sky is meanwhile further complicated by a battle between Walt Disney and Comcast for key assets of 21st Century Fox . The improved bid means Sky investors now have 60 days to weigh up the offers. Sky now operates in Britain, Ireland, Germany, Austria and Italy. Sky gives Fox and Comcast a rare opportunity to diversify out of the U.S. and reach more consumers directly. (more...)
- July 12, 2018
The pursuit for Sky is meanwhile further complicated by a battle between Walt Disney and Comcast for key assets of 21st Century Fox . The improved bid means Sky investors now have 60 days to weigh up the offers. Sky now operates in Britain, Ireland, Germany, Austria and Italy. Sky gives Fox and Comcast a rare opportunity to diversify out of the U.S. and reach more consumers directly. (more...)
Donald Trump hits China with $200 billion in new tariffs
- July 12, 2018
Global markets are rattled this morning after America escalated the deepening trade war between the two countries. China and the U.S. face a wider trade war, after Beijing vowed on Wednesday to retaliate over Washington's threat to impose $200bn in additional tariffs on Chinese goods. (more...)
- July 12, 2018
Global markets are rattled this morning after America escalated the deepening trade war between the two countries. China and the U.S. face a wider trade war, after Beijing vowed on Wednesday to retaliate over Washington's threat to impose $200bn in additional tariffs on Chinese goods. (more...)
China rejects 'blackmail' on eve of USA tariff hike
- July 11, 2018
The Trump administration is confronting China over development tactics it says include stealing technology or pressuring foreign companies to hand it over. Mr Trump has indicated he's examining leaving the WTO altogether. Le Drian said such policies have victims, "but the victims tomorrow will be the Americans themselves". (more...)
- July 11, 2018
The Trump administration is confronting China over development tactics it says include stealing technology or pressuring foreign companies to hand it over. Mr Trump has indicated he's examining leaving the WTO altogether. Le Drian said such policies have victims, "but the victims tomorrow will be the Americans themselves". (more...)
Doubts if Saudis can replace lost Iranian barrels
- July 11, 2018
Asian refiners are seeking alternatives to Iranian oil from Saudi Arabia, Kuwait, the United Arab Emirates and Iraq after the United States pledged to renew sanctions on Iran, Kuwait Petroleum Corp (KPC) Chief Executive Officer Nizar al-Adsani told Reuters . (more...)
- July 11, 2018
Asian refiners are seeking alternatives to Iranian oil from Saudi Arabia, Kuwait, the United Arab Emirates and Iraq after the United States pledged to renew sanctions on Iran, Kuwait Petroleum Corp (KPC) Chief Executive Officer Nizar al-Adsani told Reuters . (more...)
'Reckless': Trump escalates trade war with another $US200b in Chinese tariffs
- July 11, 2018
The White House says the tariffs are a response to unfair trade practices by China . President Donald Trump vowed to hit back after China retaliated for the first round of 25% tariffs on $34 billion worth of imports that Washington imposed last week . (more...)
- July 11, 2018
The White House says the tariffs are a response to unfair trade practices by China . President Donald Trump vowed to hit back after China retaliated for the first round of 25% tariffs on $34 billion worth of imports that Washington imposed last week . (more...)
Turkey: President to make top military appointments
- July 10, 2018
The event at parliament in the capital, Ankara, concludes the country's transition from a parliamentary system to an executive presidency, in line with the constitutional changes approved in a referendum past year. Amir H H Sheikh Tamim bin Hamad Al Thani with Sudan's President, Omer Al Bashir and former president of Turkey, Abdullah Gul, during the inauguration ceremony of Turkish President Recep Tayyip Erdogan . (more...)
- July 10, 2018
The event at parliament in the capital, Ankara, concludes the country's transition from a parliamentary system to an executive presidency, in line with the constitutional changes approved in a referendum past year. Amir H H Sheikh Tamim bin Hamad Al Thani with Sudan's President, Omer Al Bashir and former president of Turkey, Abdullah Gul, during the inauguration ceremony of Turkish President Recep Tayyip Erdogan . (more...)
Oil prices edge up as investors eye tight market
- July 09, 2018
Oil was mixed last week as a Canadian supply outage supported United States crude prices, while an increase in production from Opec's biggest exporter Saudi Arabia pushed Brent lower. Chinese refiners were the top buyers of American crude oil in May, and have been regular importers since the United States revived domestic output and exports in recent years. (more...)
- July 09, 2018
Oil was mixed last week as a Canadian supply outage supported United States crude prices, while an increase in production from Opec's biggest exporter Saudi Arabia pushed Brent lower. Chinese refiners were the top buyers of American crude oil in May, and have been regular importers since the United States revived domestic output and exports in recent years. (more...)
China says forced to react after U.S. launches ‘largest trade war’
- July 09, 2018
China's tariffs on USA goods came into effect immediately afterward, a spokesman for the Chinese Foreign Ministry said Friday. When a government or economic bloc (such as the EU) imposes a tariff on a particular product, importers pay the levy as a percentage of the total value of the product to the customs agency of that country, at the point of entry. (more...)
- July 09, 2018
China's tariffs on USA goods came into effect immediately afterward, a spokesman for the Chinese Foreign Ministry said Friday. When a government or economic bloc (such as the EU) imposes a tariff on a particular product, importers pay the levy as a percentage of the total value of the product to the customs agency of that country, at the point of entry. (more...)
Starbucks to ditch plastic straws globally by 2020 to help environment
- July 09, 2018
Some Starbucks drinks, like cold brew with cold foam, are already served in cups with strawless lids. Seattle is believed to be the first major USA city to ban single-use plastic straws and utensils in food service, according to the Seattle Public Utilities. (more...)
- July 09, 2018
Some Starbucks drinks, like cold brew with cold foam, are already served in cups with strawless lids. Seattle is believed to be the first major USA city to ban single-use plastic straws and utensils in food service, according to the Seattle Public Utilities. (more...)
UK Prime Minister acts to defuse crisis after chief Brexit negotiator quits
- July 09, 2018
When Cameron resigned after defeat in the Brexit referendum, Davis was appointed back in government by May, Cameron's replacement. "The Prime Minister thanks Boris for his work", an emailed statement from May's office said. Denying that he wanted to unseat the prime minister, he said he would now "argue for being as firm as possible". He has been a strong pro-Brexit voice in a Cabinet divided between supporters of a clean break with the bloc and those who want to keep close ties. (more...)
- July 09, 2018
When Cameron resigned after defeat in the Brexit referendum, Davis was appointed back in government by May, Cameron's replacement. "The Prime Minister thanks Boris for his work", an emailed statement from May's office said. Denying that he wanted to unseat the prime minister, he said he would now "argue for being as firm as possible". He has been a strong pro-Brexit voice in a Cabinet divided between supporters of a clean break with the bloc and those who want to keep close ties. (more...)
Heavy rain lashes Thai cave region where 8 boys are trapped
- July 09, 2018
The boys rescued Sunday were described as strong and safe but needed to undergo medical checks. They are then taken to hospital in Chiang Rai. The same elite divers involved in Sunday's rescue would conduct the next one, given their knowledge of the cave conditions, Thailand's interior minister said in a statement. (more...)
- July 09, 2018
The boys rescued Sunday were described as strong and safe but needed to undergo medical checks. They are then taken to hospital in Chiang Rai. The same elite divers involved in Sunday's rescue would conduct the next one, given their knowledge of the cave conditions, Thailand's interior minister said in a statement. (more...)
ZTE names new top executives in step towards US ban lifting
- July 09, 2018
Chinese tech company ZTE has tapped a new CEO as it scrambles to fulfill its end of the bargain with the USA government. ZTE, which relies on US suppliers for core components, had to cease major operations in April after authorities imposed the ban, saying the firm broke an agreement to discipline executives who conspired to evade USA sanctions on Iran and North Korea . (more...)
- July 09, 2018
Chinese tech company ZTE has tapped a new CEO as it scrambles to fulfill its end of the bargain with the USA government. ZTE, which relies on US suppliers for core components, had to cease major operations in April after authorities imposed the ban, saying the firm broke an agreement to discipline executives who conspired to evade USA sanctions on Iran and North Korea . (more...)
The rise in the USA unemployment rate isn’t bad news
- July 08, 2018
After revisions, job gains have averaged 211,000 per month over the past three months. The increase is above the gains required for the accommodation of the population growth and about 20,000 more compared to last year's average during the same period. (more...)
- July 08, 2018
After revisions, job gains have averaged 211,000 per month over the past three months. The increase is above the gains required for the accommodation of the population growth and about 20,000 more compared to last year's average during the same period. (more...)
Wage gains slow, unemployment up from 18-year low
- July 08, 2018
On the negative side, the unemployment rate for black workers increased 0.6 percentage points to 6.5 percent from the record low hit in May. Hispanic unemployment dropped to 4.6 percent in June, the lowest level since the Bureau of Labor Statistics ( BLS ) started recording the data in 1973. (more...)
- July 08, 2018
On the negative side, the unemployment rate for black workers increased 0.6 percentage points to 6.5 percent from the record low hit in May. Hispanic unemployment dropped to 4.6 percent in June, the lowest level since the Bureau of Labor Statistics ( BLS ) started recording the data in 1973. (more...)
China's tariff response takes effect after Trump ignites trade war
- July 08, 2018
Medical imaging scanners such as CT, MRI, and ultrasound systems were on a list of 1,300 products the administration said would be slapped with tariffs . US President Donald Trump told reporters on Thursday that US tariffs on an additional $16 billion in Chinese goods are set to take effect in two weeks. (more...)
- July 08, 2018
Medical imaging scanners such as CT, MRI, and ultrasound systems were on a list of 1,300 products the administration said would be slapped with tariffs . US President Donald Trump told reporters on Thursday that US tariffs on an additional $16 billion in Chinese goods are set to take effect in two weeks. (more...)
US Crude Oil Price Rise Still Possible Once Consolidation Period Ends
- July 07, 2018
The United States will counter the influence of Iran , Saudi Arabia's major regional rival, by imposing tough sanctions. Ardebili's accusations came as oil prices have surged in recent months. "A key driver of the rise in prices has been the OPEC-Russia deal to cut oil output, compounded by collapsing Venezuelan production and the USA decision to end the Iran deal", National Australia Bank ( NAB ) said in its July outlook. (more...)
- July 07, 2018
The United States will counter the influence of Iran , Saudi Arabia's major regional rival, by imposing tough sanctions. Ardebili's accusations came as oil prices have surged in recent months. "A key driver of the rise in prices has been the OPEC-Russia deal to cut oil output, compounded by collapsing Venezuelan production and the USA decision to end the Iran deal", National Australia Bank ( NAB ) said in its July outlook. (more...)
Canada adds 31,800 jobs in June, led by jump in part-time positions
- July 07, 2018
Labor Department. Figures from April and May were also revised higher, indicating the creation of 37,000 more positions than previously expected. The labor force participation has increased, which brought the unemployment rate up slightly from 3.8 percent to 4 percent . (more...)
- July 07, 2018
Labor Department. Figures from April and May were also revised higher, indicating the creation of 37,000 more positions than previously expected. The labor force participation has increased, which brought the unemployment rate up slightly from 3.8 percent to 4 percent . (more...)
China trade war could drive prices up and growth down
- July 07, 2018
Gao said China's foreign trade was expected to continue on a stable path in the second half of the year, though investors fear a full-blown Sino-American trade war would deal a blow to Chinese exports and its economy. Moments later, the Chinese side fired back, accusing the United States of violating WTO rules setting off "the largest trade war in economic history to date". (more...)
- July 07, 2018
Gao said China's foreign trade was expected to continue on a stable path in the second half of the year, though investors fear a full-blown Sino-American trade war would deal a blow to Chinese exports and its economy. Moments later, the Chinese side fired back, accusing the United States of violating WTO rules setting off "the largest trade war in economic history to date". (more...)
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Unemployment at lowest for 40 years