Chinese shares slumped to fresh two-years lows on Thursday and were set for their worst monthly performance in years as trade tensions with the United States and worries about debt dimmed the outlook for China's economy. threats of import controls. The report highlights the clash between Beijing's insistence it has honored market-opening promises made when it joined the World Trade Organization in 2001 and arguments by Washington , Europe and others that Beijing improperly hampers access ...
Trump claimed in a tweet that Saudi King Salman bin Abdulaziz al-Saud had agreed to his call to boost production by "maybe up to 2,000,000 barrels". "Kuwait will raise its oil production from tomorrow to 2.785 million barrels, a daily increase of 85,000 compared to May, based on last week's production cut agreement", Rashidi told Arabic-language daily Al-Rai.
August Brent crude the global benchmark, rose 18 cents, or 0.2%, to $77.64 a barrel, with prices looking to again settle at the highest since May. The United States this week demanded that all countries halt imports of Iranian oil from November, a hardline position the Trump administration hopes will cut off funding to Iran.
USA crude rose 70 cents a barrel to settle at $74.15, on track for a weekly rise of 8.2 percent. According to Bloomberg reports , Saudi state oil giant Aramco plans to boost production next month to about 10.8 million barrels a day, the people said, in the process surpassing the previous record high of 10.72 million barrels a day in November 2016.
Saudi Arabia acknowledged the call took place, but mentioned no production targets, despite Trump tweeting in reference to Salman, 'He agreed!' Brent crude stood at $79.42 a barrel, while USA benchmark crude was at $74.15. The average per-gallon price for gas in the United States was $2.85, a jump of 63 cents from a year ago, according to AAA . Officials didn't immediately respond to a request for comment.
Amazon announced Thursday it's launching a new program that will let entrepreneurs operate their own delivery enterprises under the Amazon Prime name . "You choose the pace at which you want to grow, and you get an opportunity to be a business leader in your community", Dave Clark, the senior vice president of Amazon's worldwide operations, told CNNMoney.
Toys R Us filed for Chapter 11 reorganization last fall and pledged to stay open, but had poor sales during the critical holiday season as customers and vendors shied away. Toys R Us posted a touching final message on its last day of business. The toy store chain announced in March they would be closing down and the few remaining stores are closing for good this week.
In Thursday's trade, the bid-ask spread widened to 1-1.5 paise from the usual 0.05 paise, indicating a (dollar) liquidity crunch in the market. Barclays Plc now predicts the currency at 72 by year-end, while DBS Bank Ltd. Foreign institutional investors (FIIs) taking money out of India is a big problem, economist Mohan Guruswamy told Al Jazeera. This time, that task is with Patel and it is even more hard to calm the markets now as the major trigger is the spike in the global crude oil ...
Five carbon dioxide producers in northern Europe are now offline for maintenance, claims Gasworld , leaving the United Kingdom with only one large supplier. The country's largest wholesaler Booker said it was limiting sales to 10 cases of beer and five cases of cider and soft drinks per customer per day to prevent "sub-wholesaling".
The finance minister said Indian residents can also make legitimate investments in Swiss banks. There was a 12 per cent jump in Indians' funds in 2011, then again in 2013 (43 per cent). Reacting to media reports that money parked by Indians in Swiss banks rose over 50 per cent past year, Kerala Chief Minister Pinarayi Vijayan on Friday demanded an apology from the BJP-led NDA government for all the "pain" caused due to demonetisation .
Virgin Australia said the development would not change their earlier decision to cancel eight flights to and from Denpasar, affecting Brisbane and Sydney travellers. Mount Agung in northeastern Bali has been rumbling to life intermittently since late previous year and it began belching smoke and ash again on Thursday.
In his Tuesday morning series of Twitter posts, Trump wrote that "Harley must know that they won't be able to sell back into the US without paying a big tax!" In January, the company announced the closure of a plant in Kansas City, Missouri as part of a consolidation plan after its motorcycle shipments fell to their lowest level in six years.
The referendum result did not necessarily affect the attraction or the strength of the UK R&D high-tech basis, and you still see Japanese investment coming to those sectors of the United Kingdom economy. The world's biggest carmakers including Toyota ( 7203.T ), BMW and Ford (F.N) have urged Britain to ensure that they can import and export without hindrance after Brexit .
But Trump says that's just an excuse. Harley-Davidson's move to shift production of EU-bound motorcycles overseas was the company choosing not to shift higher costs onto consumers, but instead re-configure their own strategy to avoid eating the costs of new tariffs .
People protest in Tehran, Iran, Dec. 30, 2017, in this picture obtained from social media. Iranian civilian protestors, in a surprising turn of events in the country, are taking to the streets to express opposition to the hardline ruling regime by chanting , " Death to Palestine " and "Leave Syria, think of us", according to an independent translation of videos showing the protests.
Trade groups have previously warned that information about deals are necessary for businesses to help prepare for the future, but Airbus is one of the first major companies to speak out publicly regarding the severity of the issue. But the remarks were criticised by business figures the day after both Airbus and BMW voiced concerns about Brexit. Rejecting claims the government had failed to make adequate preparations for a no-deal Brexit, he told a national newspaper: "There's lots going ...
As the fourth-largest producer of oil in sub-Saharan Africa, Congo wants to increase its oil production this year to 300,000 barrels a day, the Minister of State and chief of staff to the head of state said earlier this year. The move still represents a loosening of OPEC's tight controls on oil production, and prices have been hobbled by the news, which first came out of a Saudi Arabia-Russia joint statement some weeks ago.
FIRRMA will expand the scope of transactions reviewable by CFIUS to more effectively address national security concerns that fall outside the current scope of CFIUS review, he said. "It shows the Chinese that the Trump administration is still undependable and can be moved back from the most hardline positions", Kennedy added. The administration will still impose $34 billion in tariffs on Chinese goods effective July 6, and China has pledged to retaliate.
I fought hard for them and ultimately they will not pay tariffs selling into the European Union, which has hurt us badly on trade, down $151 Billion. "Companies are now coming back to America", Trump tweeted . "Hence, they were just using Tariffs/Trade War as an excuse", he said. Trump himself once said, "Harley-Davidson is a true American icon, one of the greats".
The Chinese president said at the time that he hoped that Pyongyang and Washington could fully implement the outcome of the summit earlier this month between Trump and Kim. China has announced the introduction of measures in response. Consequently, PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ: QQQ) closed down 2.3 percent, the S&P 500 Index 1.3 percent and the Dow Jones Industrial Average 1.3 percent.
The entire affair started on Monday after the bike builder said the increased tariffs for American bikes sold in the European Union would mean the price for the motorcycles would have to jumpo by $2,200. Trump has also used Harley-Davidson as an example of a company that would benefit from his policies. Trump ridiculed the company for building motorcycles overseas.
The U.K., France, Germany, China and Russian Federation are trying to hold onto the deal because they say it's the only way to control Iran's nuclear capability. Iran has reportedly already met with Chinese customers to ask them to keep buying oil, and while they haven't gotten any guarantees, China appears to have plenty of justification to continue doing so.
The vote will complete Turkey's transition from a parliamentary to a new executive presidential system, a move approved in a referendum past year. However, the People's Alliance , an election bloc between the AK Party and the far-right Nationalist Movement Party (MHP), still has the majority with a combined predicted number of 343 seats.
He thought markets were overreacting and I hope he is right because my SWTZ fund got to $2.62 cents yesterday - 1 cent off its all-time high - but it slipped to $2.59 before the close on all of this Trump trade tensions! Jyrti Katainen, the EU's vice president on jobs and economic growth, on second from left, and Chinese Vice Premier Liu He on second-right.
Harley-Davidson, the dominant player in the heavyweight USA motorcycle market said earlier on Monday it would not pass on any retail or wholesale price increases in the European Union and instead focus on shifting some US production. "Increasing global production to alleviate the European Union tariff burden is not the company's preference , but represents the only sustainable option", Harley-Davidson said in a regulatory filing on Monday.
The fireworks in the stock market follow an escalation in the back-and-forth threats to global trade, which suggest that investors are becoming increasingly anxious that political rhetoric is moving toward actual policy. "Our base case remains that cooler heads will prevail and that a more adverse trade war will ultimately be averted", the Deutsche Bank economists said in their note.
The EU began imposing tariffs Friday on $3.2 billion worth of American goods, including motorcycles, orange juice, bourbon, peanut butter, motorboats, cigarettes and denim. The EU's tariffs were a direct response to the Trump administration's tariffs placed against steel and aluminum exports from Europe. However, Harley-Davidson has warned consistently against tariffs , saying they would hurt sales.
Recep Tayyip Erdogan, Turkey's incumbent President, won 52.92 percent of the vote after more than 54 million people went to the polls on Sunday, securing an extension to his 15-year rule despite the strongest opposition challenge in years.
Each motorcycle will cost an average of $2,200 extra after the European Union raised its tariff on imported USA bikes to 31 percent from 6 percent on June 22, the Milwaukee-based manufacturer said Monday in a regulatory filing. The Milwaukee-based motorcycle manufacturer sold almost 40,000 bikes in the European Union, its largest market outside of the USA, last year. Harley-Davidson's ( HOG ) stock fell 2% in premarket trading.
In an SEC filing released on Monday, the company said that European Union tariffs on motorcycles exported from the United States jumped from 6 percent to 31 percent, forcing the move. President Donald Trump has used Harley-Davidson as an example of a USA business that is being harmed by trade barriers. Case in point, Harley Davidson .
Brexiteers in Theresa May's government have warned they would be taking an uncompromising approach to European Union withdrawal as thousands marched in London yesterday in protest at Brexit . He suggested instead getting closer to European states to work out what a "realistic, pragmatic Brexit is, which works for both sides". "Put simply, a No Deal scenario directly threatens Airbus' future in the UK", Mr Williams said.
Shut out of debt markets in 2010, Greece is set to exit its global bailout program formally in August. "It took a bit longer than we expected, but ended in a very good way", Greek finance minister Euclid Tsakalotos said. This, Greek officials said, might even be used to pay off the country's debts to the International Monetary Fund earlier than planned. We consider that debt is now viable, we can now have access to the markets.
He said the court should not be doing the work of Congress, even if its earlier precedents were wrongly decided. Perhaps, Kadlubek could simply limit online sales to residents of New Mexico. With the courts ruling, internet companies can now be required to collect states sales tax in states where they don't have a physical presence . Small and medium size businesses are most negatively impacted These business are faced with a huge problem because compliance is complicated.
The arrival of more than one million people in 2015, most fleeing conflict in Syria and Iraq, exposed glaring deficiencies in European Union migrant reception capacities and asylum laws. Volker Kauder, head of the CDU/CSU parliamentary group, warned Germany against taking unilateral action on refugee policy, telling broadcaster ZDF: "I believe that in the end we can only solve the problem with our European neighbors and not by going it alone".
The company found that 75 per cent of people who saw a film over the holiday weekend wouldn't have if they weren't MoviePass subscribers. Five months later, MoviePass stopped working at certain AMC theaters, including Empire 25 in NYC, the Universal City Walk, AMC Loews Boston Common and the AMC Century Plaza.
Greece will also receive an additional €15 billion on repayment of some more-expensive International Monetary Fund loans, as well as to create a cash buffer so that it could meet financing needs in the next two years. Centeno said that under the deal, Greece could delay back repayment on billions in loans by 10 years, giving it a financial breather, while stricter deadlines could have further choked the economy over the next decade.
Martin Tripp is facing a lawsuit from his former employer Tesla for the alleged theft of gigabytes of confidential company data and allegedly making false claims to the media, a lawsuit filed in Nevada shows . The closures come as a part of Tesla's decision last week to cut 9 percent of its workforce. Tesla is seeking relief under the Defend Trade Secrets Act, in addition to Nevada's own trade secret statute.
Camera gear is about to get more expensive for most online shoppers in the United States. President Trump called the decision a "big victory for fairness" in a tweet posted Thursday afternoon. She says prices may go up on her website, but it's important states see tax dollars for online purchases. The next time you buy something online, expect to pay more.
Shares of General Motors Co. and other US automakers gave back earlier gains. "I think the United States is losing more because it has put tariffs on a very important input which very often it doesn't produce itself", Daniel Gross said .
The contentious meeting took place under the shadow of vituperation from U.S. President Donald Trump, who anxious that high oil and gasoline prices would be politically painful ahead of midterm elections later this year. Al-Falih also said the real increase for OPEC and non-OPEC would be smaller than the nominal gain of 1 million bpd. Oil markets weren't calmed by the agreement announced Friday by the Organization of the Petroleum Exporting Countries after a contentious week of meetings.
While Iran has voiced skepticism in recent days about the prospect of a production increase, on Friday it sounded more flexible on the idea. "Yergin said Saudi Arabia and the United Arab Emirates support the current, tougher USA policy toward Iran, Saudi Arabia's rival for influence in the region, and so will want to support Trump's call for lower prices".
Two OPEC sources said the group agreed that OPEC and its allies led by Russian Federation should increase production by about 1 million barrels per day (bpd), or 1 percent of global supply. Trump slapped fresh sanctions on Tehran in May and market watchers expect Iran's output to drop by a third by the end of 2018. World shares rose on Friday but stayed on track for their biggest weekly decline in three months as global trade tensions continued, though oil prices surged after OPEC ...
People will be allowed to carry up to 30 grams of cannabis at a time in the province, will have the right to grow up to four marijuana plants in their homes, and will be allowed to share cannabis with one another. Canada's law prevents any province from enacting its own ban on marijuana , and may even prevent them from regulating home growns, as stated above. "We applaud Canada for showing federal legislators in the United States what can be accomplished with true leadership and ...
Ziyad Al-Ashaikh, Deutsche Bank's chief country officer for Saudi Arabia , said: "This represents a major milestone". MSCI provides almost 100,000 daily indexes of stocks, bonds and other assets worldwide. " International investors were impressed by the speed of change in the accessibility of the Saudi Arabian equity market and the level of commitment that the Capital Market Authority (CMA) and the Saudi Stock Exchange (Tadawul) have demonstrated", said Sebastien Lieblich, MSCI managing ...
Under South Dakota's law, online retailers with more than $100,000 in annual sales or more than 200 transactions in the state are required to pay a 4.5 percent sales tax on all purchases. While the Supreme Court spoke approvingly of the law it sent it back to South Dakota's highest court to be revisited in light of the court's decision.
Adding an extra one million barrels per day to the market "sounds like a good target to work with", Saudi Energy Minister Khalid al-Falih said at a seminar organised by the Organization of Petroleum Exporting Countries ( OPEC ). OPEC takes its decisions by unanimity, so if Iran were to wield its veto Saudi Arabia would be left only with the option of assembling a coalition of willing countries to bypass Tehran's opposition.
European Union trade official Cecilia Malmström said that the European Union "did not want to be in this position", but that it had no choice. Mainly because we need to find our own sense of agencies. The total amount of U.S. goods exported to China amounted to only US$130 billion (S$177 billion) a year ago, meaning that Mr Trump's potential tariffs on US$250 billion or more of Chinese imports can not be matched, at least directly.
Saudi Arabia urges OPEC to help consumers by boosting oil supply as opposition from arch-rival Iran shows signs of wavering. "While we are not in favour of prices as low as $30 per barrel, we also do not support the prevailing high price which dent our fiscal balance and undermine our development process", Mr.
After being deferred, the duties on steel and aluminium went ahead on 1 June and affect the EU, Canada , Mexico and other close U.S. allies. "The EU has a responsibility to stand up for open global trade". Trump has brushed aside concerns over a trade war, saying the US can't lose because it already has such a significant deficit. Mexico imposed tariffs on American products ranging from steel to pork and bourbon two weeks ago.
Opec , together with other key producers including Russian Federation, started withholding output in 2017 to prop up prices, but a tightening market has led to calls by consumers for more supplies. Tehran had previously resisted pressure by OPEC's de-facto leader Saudi Arabia to raise output. While Saudi Arabia's cutting by more than required has helped Opec's compliance, involuntary reductions in Venezuela amid economic crisis and in Angola due to natural decline have had a larger ...