Money


China cuts import duties on some consumer goods China cuts import duties on some consumer goods
- June 01, 2018

The White House's latest move signals the more hawkish wing of Trump's trade team is trying to amplify its hard line, after Treasury Secretary Steven Mnuchin said this month that any talk of a trade war was suspended for now. "Whatever measures the United States takes, China has the confidence, capability and experience to defend the interests of Chinese people and the core interests of the country ", the ministry said in a statement published by official new agency Xinhua . (more...)
European Union to impose measures against 'unacceptable' United States metal tariffs European Union to impose measures against 'unacceptable' United States metal tariffs
- June 01, 2018

Officials said the import taxes would take effect on Friday. Worries about a United States trade war with the European Union weighed on Wall Street stocks. "Global trade is not a gunfight at the OK Corral ", France's finance minister quipped after meeting US Commerce Secretary Wilbur Ross , as reported by PTI. (more...)
French magazine targeted over Erdogan 'the dictator' cover French magazine targeted over Erdogan 'the dictator' cover
- June 01, 2018

The central bank's policy committee is due to meet again on June 7. Investors have long said the central bank should use a single rate to set funding. Until now, the Ankara Central Bank has used a large number of interest rates to regulate the market, often with a confusing effect on the participants. (more...)
Starbucks closes stores, asks workers to talk about race Starbucks closes stores, asks workers to talk about race
- June 01, 2018

The closing could cost Starbucks as much as $12 million in profits , by some estimates. Starbucks has described it as a "collaborative and engaging experience for store partners to learn together". For many , the training was overshadowed by ABC's decision to cancel hit sitcom "Roseanne" after its star Roseanne Barr, a Trump supporter, made a remark decried as racist against former White House aide Valerie Jarrett. (more...)
Trump to implement steel, aluminum tariffs against EU, Canada and Mexico Trump to implement steel, aluminum tariffs against EU, Canada and Mexico
- June 01, 2018

Whether with imports of steel, aluminium and cars, or the bilateral relationship with China, at some point the Trump administration may decide to show the world that it is not bluffing. On May 23rd, days before a scheduled meeting with the European Union and Japan on a joint trade strategy and in the middle of talks to revamp the North American Free-Trade Agreement (NAFTA), it began an investigation into whether vehicle imports are a threat to America's national security. (more...)
Modi meets Dr Mahathir Modi meets Dr Mahathir
- June 01, 2018

Prime Minister Narendra Modi will make a short halt in Malaysia on Thursday, May 31, while heading to Singapore from Indonesia - his second worldwide destination in his three-nation visit. Malaysia and India enjoy a good relationship through cultural and historical links as well as in various key areas, particularly infrastructure development, education, tourism, and defence. (more...)
Tesla Model 3 sets 606-mile range record, then dies Tesla Model 3 sets 606-mile range record, then dies
- June 01, 2018

But as production capacity keeps increasing, Model 3 price will edge lower. It was the first European country to receive Tesla Model S and I am pretty sure Model 3 will also be delivered in Norway before it lands in any other European nation. (more...)
NAFTA Talks Continue, Time Running Short NAFTA Talks Continue, Time Running Short
- June 01, 2018

Asked if he was prepared to retaliate, Trudeau sidestepped a direct answer. Speaking May 28 in Ottawa, Freeland said the government is standing "firmly behind" her country's autoworkers and chastised US officials for the premise of auto tariffs - that Canada's vehicle-manufacturing industry threatened USA national security. (more...)
India pips China in GDP growth at 7.7% for Q4
- May 31, 2018

Growth for Asia's third-largest economy , reported by the Ministry of Statistics, trumped forecasts in a Reuters poll for annual growth of 7.3 per cent. The Reserve Bank of India needs to keep interest rates unchanged next week to boost growth and lend a helping hand to manufacturers who are struggling to access bank loans, Kumar said. (more...)
Bombardier bets on Global business Bombardier bets on Global business
- May 31, 2018

Montreal-based Bombardier is banking on the Global 7500 , which will sell for about US$73 million, to contribute about US$3 billion in annual revenue at the start of the next decade. Revenues from sales of the 5500 and 6500 will be part of Bombardier's five-year turnaround plan that leans heavily on delivery of its flagship, Global 7000 business jet to achieve a 25 percent jump in total company revenues to $20 billion by 2020, compared with 2017. (more...)
Markets Right Now: Stocks open higher on Wall Street Markets Right Now: Stocks open higher on Wall Street
- May 31, 2018

The blue chip benchmark shrugged off a fall in the pound as it resumed trading after a long holiday weekend. "However, we will have to wait for more reliable indicators to be published in order to get a clearer picture of the health of China's economy ", Julian Evans-Pritchard of Capital Economics said in a commentary. (more...)
Waymo to get more than 60,000 cars from Fiat Chrysler for robotaxis Waymo to get more than 60,000 cars from Fiat Chrysler for robotaxis
- May 31, 2018

On the same day General Motors and Japan's SoftBank announced a massive $3.35 billion investment in GM's Cruise self-driving-car division, Waymo and Fiat Chrysler Automobiles revealed an expansion of their partnership - and dangled an intriguing new business option. (more...)
Oil prices steady after shake-out on supply worries Oil prices steady after shake-out on supply worries
- May 31, 2018

On May 25, sources told Reuters that Saudi Arabia and Russian Federation are discussing raising OPEC and non-OPEC oil output by around 1 million bpd. At 0728 GMT, July WTI crude oil is trading $68.03, down $0.18 or -0.26% and August Brent crude oil is at $77.30, down $0.20 or -0.26%. USA production is also likely to have risen last week, from 10.725 million bpd last week. (more...)
Two-day nationwide bank strike begins in India Two-day nationwide bank strike begins in India
- May 31, 2018

However, the strike will not affect online banking transactions such as net banking, mobile banking and ATM transactions. The last hike in 2012 was of 15%. The IBA did not do anything. "The CLC tried his best to sort out the strike-related issues but there is no positive development". Without naming them, the IBA representative told the CLC that the six banks were opposed to the move of covering general-manager level officials. (more...)
Achtung baby: Trump wants German cars out of America Achtung baby: Trump wants German cars out of America
- May 31, 2018

Within the EU, Germany is the biggest exporter of cars to the United States. Citing several unnamed European and USA diplomats, the magazine said on Thursday that he told Macron in April he would stick to his trade policy for long enough until no Mercedes-Benz models were rolling down New York's Fifth Avenue. (more...)
Wall Street falls on Italy worries; bank shares drop
- May 31, 2018

The S&P 500 index rose 30 points, or 1.1 per cent, to 2,720. South Korea's Kospi dropped 2.0 percent to 2,409.03. Gold rose 0.2 percent to $1,301.50 an ounce. CURRENCIES: New jitters about the stability of the euro sent the currency's value against the dollar to its lowest level in nearly a year. The dollar, meanwhile, rose 0.1 percent to 108.90 yen. (more...)
Talks held in Italy amid political crisis Talks held in Italy amid political crisis
- May 31, 2018

A degree of calm, however, returned, with the two anti-establishment parties renewing efforts to form a coalition government rather than force Italy into holding elections for the second time this year. The 10-year Treasury note yield stood at 2.847 percent after sliding on Tuesday to 2.759 percent, its lowest since April 11. Italy's 10th-largest bank Credito Valtellinese has been among the worst hit, even though just ahead of the March election it managed to raise eight times its market ... (more...)
Canadian Pacific Rail reaches agreement with Teamsters to end strike — NewsAlert Canadian Pacific Rail reaches agreement with Teamsters to end strike — NewsAlert
- May 31, 2018

The company's digital media platform includes Hemp Inc, a mobile gaming app for gamers to develop, grow, and dispense virtual cannabis, as well as interact with celebrities and advertisers' brands within the game; and cannavoices.com, a member social media platform for subscribers to participate in an open forum with other pro-cannabis supporters, as well as share cannabis-related news, events, culture, technology, business insights, and inspiration while networking with like-minded ... (more...)
Brexit: Time is running out, big business warns May Brexit: Time is running out, big business warns May
- May 31, 2018

Downing Street said that the meeting had been "open and productive". Others at the meeting were the chief executives of Vodafone, Vittorio Colao, and Royal Mail , Moya Greene. Following a meeting at 10 Downing Street on Wednesday, the business bosses issued the prime minister with a warning that "uncertainty causes less investment". (more...)
U.S. slaps tariffs on Canadian steel, aluminum
- May 31, 2018

While Donald Trump's trade war with China simmers, he's about to turn up the heat in Europe. Discussions with the European Union made some progress didn't get to the point where it was warranted to give the bloc a continued temporary exemption or a permanent exemption, Ross said. (more...)

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