Business

Business Erdogan sworn in as Turkey's president with vast new powers
Author: 0 Erdogan sworn in as Turkey's president with vast new powers

The announcement - and the absence of familiar, market-friendly ministers from the cabinet - helped to send the lira sharply lower. Erdogan referred to the principles of Mustafa Kemal Ataturk, the founder of the modern Turkish Republic. "In other words, Turkey will be an institutionalized autocracy". Among the dignitaries present at the ceremony were Venezuelan President Nicolas Maduro, Russian Prime Minister Dmitry Medvedev and Sudanese President Omar Hassan al-Bashir.

Business Oil dips in nervous markets with U.S., China on brink…
Author: 0 Oil dips in nervous markets with U.S., China on brink…

An increase in supply will reverse some of the output cuts that OPEC and other major producers put in place in early 2017 to end several years of supply glut. While no date has been set, industry participants expect the tariff to be levied. China has indicated that it could place a tariff of 25% on US oil.

Business China Cancels U.S. Soybean Purchases as Trade War Takes Hold
Author: 0 China Cancels U.S. Soybean Purchases as Trade War Takes Hold

At the stroke of midnight Washington time, the USA pulled the trigger on 25% duties on $34 billion in Chinese machinery, electronics and hi-tech equipment, including autos, computer hard drives and LEDs. But many consumer industry groups say American consumers are likely to bear the brunt of the fight. There are already signs within the U.S. that companies are pausing decisions on investment and hiring and input costs flowing from the earlier increase in duties on steel, aluminium and ...

Business Starbucks to ditch plastic straws globally by 2020
Author: 0 Starbucks to ditch plastic straws globally by 2020

Starbucks uses more than a billion plastic straws a year. As Fast Company reported, plastic straws have been banned or are planned to be banned by Alaska Airlines and McDonald's U.K., as well as in Vancouver, the U.K., Taiwan, Seattle , Miami Beach, and in California cities such as Oakland and Berkeley, to name a few.

Business UK's Brexit Secretary David Davis has resigned
Author: 0 UK's Brexit Secretary David Davis has resigned

Conservative lawmakers also worry that leadership election so close to Brexit - due to take place on March 29, 2019 - would embolden Labour and increase pressure for another election which could delay Brexit. May has responded to Davis' resignation with a two-and-a-half page letter of her own, saying she does "not agree" with Davis' characterization of Friday's proposal, instead calling it a "precise, responsible, and credible basis" for UK-EU relations.

Business To comply with US mandate, ZTE names new CEO, other top executives
Author: 0 To comply with US mandate, ZTE names new CEO, other top executives

In addition, according to the report, deputy CTO Wang Xiyu will become CTO, while wireless technology expert Xu Feng will head up the vendor's devices business. Some employees Reuters spoke to have expressed concerns about whether a new board and management could settle in smoothly to successfully revive the firm without the help of veterans.

Author: 0 Employment gains, job hunter influx clears way for rate hike

The rise in the unemployment rate was also "healthy" because it reflected an uptick in the labor participation rate (to 62.9 percent from 62.7 percent), raising hopes that the labor force can overcome some of its structural headwinds. Exports declined mostly because of weaker trade on motor vehicles and parts as well as metal ores and non-metallic minerals. Yet another month of robust job creation showed that, despite nationwide complaints of worsening labor shortage, there remained untapped ...

Business Iran Warns Trump's Oil Ban Is 'Self Harm'
Author: 0 Iran Warns Trump's Oil Ban Is 'Self Harm'

Tehran has warned Saudi Arabia against this and has threatened to pull out of OPEC production agreements. Without specifying a number, the official press agency said the kingdom would do what is necessary to balance oil prices . In addition to showing the tension between these two sides, the OPEC summit also reveals that the cartel has much less market control than they would like to have.

Author: 0 The Good Kind Of Higher Unemployment

The latest jobs report overall showed encouraging signs for the US economy, the New York Times reports . Full-time employment was up by 9,100 By sector, employment in goods producing industries was up by 46,600, the highest since April 2012, led by construction and manufacturing Service producing industries lost 14,700 jobs during the month Self-employment was up by 22,000, with employment in the public sector rising by 11,800.

Business The dollar is sliding as US-China trade war materializes
Author: 0 The dollar is sliding as US-China trade war materializes

Trump has promised another round of tariffs on $16 billion of additional Chinese goods if China follows through with its threat to retaliate. The financial jousting prompted worry that the cost of a wide range of goods to soar. "If I was Starbucks or Apple", he said, "I would be scared right now". Consumer Technology Association: "While President Trump says his trade policy is meant to punish China, the numbers show that, in reality, US businesses, workers and consumers will pay ...

Business Asian markets mixed but trade war fears fester
Author: 0 Asian markets mixed but trade war fears fester

In recent action, one dollar bought 6.6298 yuan, compared with 6.6672 yuan on Tuesday. USA benchmarks initially gave up some gains in mid-afternoon trading after minutes from the Federal Reserve's last meeting on June 12-13 showed central bankers discussed whether trade tensions could dent the US economy.

Business Iran tells Trump: Stop tweeting, it's driving up oil prices
Author: 0 Iran tells Trump: Stop tweeting, it's driving up oil prices

USA light crude jumped $1.17 to US$75.11 a barrel, its highest since November 2014. "This must be a two way street", he wrote, adding in block capitals, "REDUCE PRICING NOW!" Despite that key member Saudi Arabia is affirming that the group and its allies will boost output, Goldman Sachs Group Inc.

Business Saudi Arabia pledged to expand oil capacity if needed…
Author: 0 Saudi Arabia pledged to expand oil capacity if needed…

Last month, Tadawul won Morgan Stanley Capital International (MSCI) emerging market (EM) status, the global index compiler said in its annual review for 2018. Kazempour Ardebili said Trump was trying to intensify tensions between Iran and Saudi Arabia and he called on the United States to join world powers in a meeting with Iran in Vienna on Friday.

Business WTO needs to change ways or US will do 'something'
Author: 0 WTO needs to change ways or US will do 'something'

The White House didn't immediately respond to HuffPost's request for comment. Earlier, Axios quoted a source as saying that Trump allegedly told his aides on several occasions that he wants the U.S. Lingering trade concerns are likely to weigh on the markets as tariffs on USD34 billion worth of Chinese imports to the USA and a matching USD34 billion worth of USA exports to China are due to take effect on July 6th.

Business European Union gives stark warning to USA over auto tariffs
Author: 0 European Union gives stark warning to USA over auto tariffs

Shares of Harley-Davidson ended Tuesday's shortened trading session up 0.8 percent. The rate is expected to remain unchanged at 1.5 per cent. Taiwan's benchmark fell and Southeast Asian indexes were mixed. The new campaign, detailed first to Reuters , will provide an analysis of the financial hit each us state stands take from potential retaliation to Trump's tariffs.

Business China Mobile US Move Blocked By Trump Administration
Author: 0 China Mobile US Move Blocked By Trump Administration

The advisory body, the National Telecommunications and Information Administration , is part of the Department of Commerce. India has 1.2 billion wireless users, but there is little evidence China Mobile has any presence there. "To the contrary, the authorization would pose substantial, unacceptable national security and law enforcement risks". The company had 901.9 million mobile subscribers, 671.8 million of which are on its 4G network, as of May 31.

Business Over 40 countries object at WTO to USA vehicle tariff plan
Author: 0 Over 40 countries object at WTO to USA vehicle tariff plan

Still, China's stance is striking given Washington's deep economic and security ties with European nations. As a possible follow-up, the United States has a public hearing scheduled for July 24 to weigh tariffs on $16 billion worth of Chinese goods including machinery and plastics.

Business Chairman of Giant Chinese Conglomerate Dies in Fall
Author: 0 Chairman of Giant Chinese Conglomerate Dies in Fall

Wang fell 15 meters off a wall in the village of Bonnieux , near Avignon, a picturesque area popular with tourists, lieutenant-colonel Hubert Meriaux of the Vaucluse gendarmerie force told Reuters. He and his co-founder Chen Feng transformed HNA (Hainan Airlines) into one of China's most acquisitive companies, with more than $230bn (£175bn) in assets and a huge amount of debt.

Business Auto tariffs: European Union counterattack to hit USA exports worth $294 billion
Author: 0 Auto tariffs: European Union counterattack to hit USA exports worth $294 billion

He's about to find out. The US Chamber also published an interactive map on the internet showing the impact of the trade dispute in all 50 states. The prospect of a deepening trade war has unsettled financial markets - which were further rattled on Monday by worries about the stability of the German government and the health of the Chinese economy.

Author: 0 Prepared to work with nations that are reducing oil imports from Iran

The White House later walked back the president's comments, saying the king said his country can raise oil production if needed. At present, lower crude prices will only serve to hamper Canadian exports and have a knock-on effect on GDP when the nation has a central bank rate decision coming up next week.

Business What Mexico's new leader really thinks about Donald Trump
Author: 0 What Mexico's new leader really thinks about Donald Trump

The former Mexico City mayor, who has held double-digit leads in polling for months, campaigned on increased social spending and opposition to private investment in the country's energy sector. He won 53 percent of the vote in the election and has the political capital necessary to end decades of passive foreign policy and re-assert Mexico's sovereignty.

Business Boycott alert: Walmart sells
Author: 0 Boycott alert: Walmart sells "Impeach 45" t-shirts

These articles of clothing have ignited a rallying cry from the President's legion of supporters, who find the sloganeering to be disrespectful. Other items echoing the anti-Trump sentiment were also available on the retail giant's website, including other T-shirts, coffee mugs and bumper stickers, made by several companies.

Business German interior minister offers to quit amid migration row
Author: 0 German interior minister offers to quit amid migration row

Although the move to appease the conservatives exposed her growing political weakness, Ms. Merkel will limp on as chancellor. "A majority of Germans back the chancellor". Seehofer and Italian counterpart Matteo Salvini spoke by phone and agreed to meet for bilateral talks before a summit of interior ministers in Innsbruck on July 11.

Business LeBron James to join Los Angeles Lakers in $154m deal
Author: 0 LeBron James to join Los Angeles Lakers in $154m deal

The Lakers have the salary-cap flexibility to become a behemoth once more, with James a huge pull for other stars wanting to challenge the Warriors' empire and attempt to upset the status quo. James, 33, will not be the only veteran on the young team next season, however. Since free agency opened, the Lakers have added Lance Stephenson , JaVale McGee , and Rajon Rondo , allowed Julius Randle to bolt to New Orleans, and re-signed Kentavious Caldwell-Pope (for way too much money!).

Business Lyft buys Citi Bike owner Motivate in move into bike-sharing business
Author: 0 Lyft buys Citi Bike owner Motivate in move into bike-sharing business

Lyft says it's giving Americans another reason not to hassle with vehicle ownership. Lyft says its new bike-share program will revolutionize urban transportation. The deal brings Lyft into a crowded market. The company will introduce "Lyft Bikes", seizing on the momentum around dockless and pedal-assist e-bikes in major USA cities, and inject resources into the bike-share operator to expand those offerings around the country.

Author: 0 Pro-GOP Business Lobbying Giant Goes to War With Trump Over Tariffs

They don't want our farm products. "They treat us very unfairly". The Financial Times reports that the European Union has threatened to retaliate if US President Donald Trump places tariffs on European cars. Trump on Wednesday said he supported tougher restrictions on foreign investment in sensitive technology, as well as export controls on those goods, but he stopped short of imposing specific restrictions on China.

Business EU Warns US Against Car Tariffs
Author: 0 EU Warns US Against Car Tariffs

The Trump tariffs would violate worldwide trade rules, the commission said, adding that European vehicle imports into the United States do not pose a threat to the American automobile industry. "Despite Trump's bluster, trade wars should not be invited and are never easy to win", said Pascrell, a member of the House Ways and Means Committee, which oversees trade issues.

Business HTC to lay off 1,500 employees
Author: 0 HTC to lay off 1,500 employees

Shares in the firm plunged 6.71 percent to Tw$52.80 in Taipei and are sharply down from a high of Tw$1,300 in 2011 as its share of the global smartphone market has been worn away. Under the deal, half of HTC's smartphone research and development team - about 2,000 people - would go to Google. The company also said the layoffs would be completed by the end of September and would further its plan to put its smartphone and VR businesses under one roof in each region.

Business The big changes Amazon is making to Prime Day
Author: 0 The big changes Amazon is making to Prime Day

Let us know through the comments section below. When asked if Prime Day is a means for Amazon to amass more paying members, Mr Low said that more users sign up to become Amazon Prime members on Prime Day than any other day. "For the first time, customers will be able to experience the new products launching on Prime Day in Virtual Reality (VR) before buying". Prime Video , DVDs and Blu-Ray - Save up to 50% on popular movies and TV shows on digital, DVD and Blu-Ray.

Business Trump administration seeks to drop Iran's oil revenue to nothing
Author: 0 Trump administration seeks to drop Iran's oil revenue to nothing

The president, in an interview with Fox News' "Sunday Morning Futures with Maria Bartiromo", also said he would not complete a new NAFTA trade deal with Canada and Mexico until after the November congressional elections. Saudi Arabia has been pumping around 10 million bpd in recent months and sources close to its oil policy have said it could raise output to 11 million bpd.

Business Dell to return to public trading
Author: 0 Dell to return to public trading

The transaction will allow Dell to bypass the traditional IPO process, which would likely have involved grilling by stock market investors over its $52.7 billion debt pile. It also means Dell will not have to raise any new money, because it will pay for the deal by issuing new shares and a $9 billion dividend it will receive from VMware .

Business James agrees to 4-year, US$154m deal with Lakers
Author: 0 James agrees to 4-year, US$154m deal with Lakers

With James no longer a Cavalier , Cleveland's odds of winning the National Basketball Association title fell all the way to 500-1, putting them alongside the dregs of the league like the Brooklyn Nets and Sacramento Kings. But Wojnarowski also tweeted on Sunday that Leonard truly wants to be a Laker . The 33-year-old superstar announced via his agency he has agreed to a $154million contract with the Lakers.

Business Kuwait pumps up oil output as part of OPEC, Russia plan
Author: 0 Kuwait pumps up oil output as part of OPEC, Russia plan

The Saudi Press Agency said Trump had called Salman and the two highlighted "the necessity of doing efforts in order to preserve the stability of the oil market and the global economy growth". It did not mention the two million barrel increase. Average prices for unleaded gas, including taxes, averaged $2.83 a gallon for the week ending June 25 - up about 55 cents over the same period a year ago.

Business European Union warns USA of almost $300-billion retaliation over auto tariffs
Author: 0 European Union warns USA of almost $300-billion retaliation over auto tariffs

The submission said that tariffs on cars and vehicle parts could undermine US auto production by imposing higher costs on USA manufacturers. The EU has a 10% levy, compared with 2.5% for cars entering the United States. Profitability at United States auto plants could worsen further if parts imported to America from Europe also face tariffs. Far-reaching effects from tariffs already in place and new ones mulled by the White House could mean "strongly reduced export volumes and negative ...

Business Donald Trump says he doesn’t plan exit from WTO, wants better treatment
Author: 0 Donald Trump says he doesn’t plan exit from WTO, wants better treatment

I'm saying they haven't treated us fairly. Axios reported , citing an unnamed official, that the president had complained the WTO was designed by the rest of the world to "screw" the U.S. to throw in the towel. "Faced with these unjustified tariffs, the United States will take all necessary actions under both US law and worldwide rules to protect its interests", he said.

Business Automakers, manufacturers oppose president's call for auto tariffs
Author: 0 Automakers, manufacturers oppose president's call for auto tariffs

General Motors , the country's biggest automaker with about 110,000 US employees, warned the Trump administration's tariffs threaten to undermine its competitiveness and could lead to " a smaller GM ". GM has 47 manufacturing sites and 25 service-part facilities in the US, where it employs around 110,000 people. President Donald Trump has repeatedly pressed both US and foreign auto makers to build more vehicles in the USA, which would create jobs in rust-belt states that helped elect him.

Business Iran asks OPEC to 'refrain' from unilateral production hikes
Author: 0 Iran asks OPEC to 'refrain' from unilateral production hikes

Iran had been pushing hard for oil producers to hold output steady as US sanctions are expected to hit its exports. "We will surely do something to thwart the U.S. "They're begging the Saudis to raise their output so that if Iran's quota decreases nothing will happen to the markets", said Jahangiri. The deal allowed Iran to sell its crude oil again on the global market, a major cash infusion for its anemic economy, long hobbled by worldwide sanctions.

Business Tesla finally hits weekly production target for Model 3 cars
Author: 0 Tesla finally hits weekly production target for Model 3 cars

In the email, Musk wrote that production could hit 6,000 Model 3s a week by next month. A leaked email from Elon Musk later specified that the 7,000-vehicle output was comprised of 5,000 Model 3 and 2,000 Model S and Model X . "Consistently producing 5,000 per week with outstanding quality is another". The announcement of Tesla's production milestone for the Model 3 appears to have provided a boost to investors' sentiments.

Business Man overboard found 22 hours later by another cruise ship
Author: 0 Man overboard found 22 hours later by another cruise ship

The Getaway , which left Miami June 24 for an eight-day cruise, returned to Miami on Sunday. "He was alright, but was obviously distressed from being in the water for so long. The cruise ship Carnival Glory found and rescued the missing person 21 miles north of Cuba. Norwegian thanked Carnival for recovering the employee and said he would be returned to shore soon.

Business Amazon Wants To Pay You To Be A Delivery Person
Author: 0 Amazon Wants To Pay You To Be A Delivery Person

Through the programme, Amazon said it can cost as little as US$10,000 for someone to start the delivery business. But labor professors say the arrangement allows Amazon to reap the benefits of a vast delivery network without having to shoulder numerous risks and liabilities involved.

Business Trump says Saudi Arabia will boost oil production
Author: 0 Trump says Saudi Arabia will boost oil production

Saudi Arabia says that King Salman has spoken to President Donald Trump , but gave no mention of the 2 million barrels of extra production the American leader tweeted about earlier in the day. With record amounts of oil all over the place, including the fully loaded ships at sea, oil prices are artificially Very High! But he said it's unlikely that decrease could sustain itself as demand spikes, leading prices to rise by wintertime.

Business United States customers had contact information, usernames exposed
Author: 0 United States customers had contact information, usernames exposed

But recently Adidas accepts a massive data breach in its United States website. Hackers stole information from millions of users' information that includes usernames, passwords, and contact information. As such, it is alerting these customers about the loss of their information. For example, it says that it has no reason to believe that the hackers were able to obtain credit card information.

Business Marketing Firm Exactis Leaks Personal Info of Almost Entire US
Author: 0 Marketing Firm Exactis Leaks Personal Info of Almost Entire US

Andy Greenberg reporting in Wired: "The haul comprises close to 2 terabytes of data that appears to include personal information on hundreds of millions of American adults, as well as millions of businesses". The information leaked by Exactis did not include Social Security numbers like the Equifax breach did. Exactis has since then protected the data, making it unclear now just how long it has sat exposed online.

Business Lisa Prank Fights With Elon Musk About Her Dad's Unicorn Fart
Author: 0 Lisa Prank Fights With Elon Musk About Her Dad's Unicorn Fart

Following this discovery, Edwards' daughter, Lisa Prank , tweeted directly at Musk: "Grimes' boyfriend ripped off my dad's art!" But the use of Edwards' work without compensation highlights what artists say is the kind of corporate theft and copyright infringement that has become rampant - forcing independent artists to engage in expensive legal battles to get credited and paid.