Money


Salvini: Malta must take in ‘outlaw’ migrant vessel Salvini: Malta must take in ‘outlaw’ migrant vessel
- June 23, 2018

More than 640,000 migrants have arrived in Italy since 2014, many of whom made their way northward to join family or to countries perceived as providing more assistance until Italy's neighbors enacted stricter border controls. "A number of member states, including Malta, are in contact on this case". If a "satisfactory" deal is not achieved at next week's summit, German Interior Minister and CSU chief Horst Seehofer has threatened to defy Merkel and turn away at the German border people ... (more...)
Supreme Court rules on internet sales tax
- June 22, 2018

Consumers can expect to see sales tax charged on more online purchases - likely over the next year and potentially before the Christmas shopping season - as states and retailers react to the court's decision, said one attorney involved in the case. (more...)
Oil is rallying after OPEC reportedly strikes a deal to raise production
- June 22, 2018

He said that the world could face a supply deficit of up to 1.8 million barrels a day in the second half of the year, and maintained that it is OPEC's responsibility to address that imbalance. Oil prices rose more than 2% Friday after OPEC reportedly reached a deal to ease supply cuts that have been propping up prices for almost two years. (more...)
NHTSA bans sale of Autopilot 'nag reduction' device
- June 22, 2018

Bypassing or disabling safety features is nothing new, but there's a world of difference between not wearing a seatbelt and using a device that means you can keep your hands off the wheel for an extended period of time. Despite being essential for making sure what is a Level 2 driver-assistance system - nowhere near a fully autonomous vehicle - is correctly and safely operated, the attention monitoring system has proved unpopular with some Tesla owners. (more...)
Airbus threatens to pull out of United Kingdom if no Brexit deal reached Airbus threatens to pull out of United Kingdom if no Brexit deal reached
- June 22, 2018

The scheme would also apply to their close family members, such as spouses, children, parents and grandchildren. In Wales, where Airbus supports around 11,700 jobs, the devolved government run by the United Kingdom opposition Labour party said its report was "extremely worrying". (more...)
Trade War Fallout: 5 ways the Trump tariffs could impact air cargo Trade War Fallout: 5 ways the Trump tariffs could impact air cargo
- June 22, 2018

The European Union will slap USA products with a series of retaliatory tariffs from Friday, it confirmed this morning. The 28-nation EU's trade chief, Cecilia Malmstrom, said Wednesday that the bloc would introduce the tariffs on about 2.8 billion euros' ($3.4 billion) worth of US products. (more...)
European Union slaps retaliatory tariffs on U.S. as trade war rattles markets European Union slaps retaliatory tariffs on U.S. as trade war rattles markets
- June 22, 2018

The English-language paper cited research by the Rhodium Group saying that Chinese investment in the United States declined 92 per cent to US$1.8 billion in the first five months of the year, its lowest level in seven years. The United States' trade deficit with China a year ago was $376 billion, by comparison. Trump is also looking at new tariffs on auto imports, opening a new front in the trade war. (more...)
Bank Of Maharashtra CMD arrested in Rs 3000 crore fake loans case Bank Of Maharashtra CMD arrested in Rs 3000 crore fake loans case
- June 22, 2018

ACP Nilesh More, who is the investigating officer in the case, in his remand application before the court stated that Muhnoot, Gupta and Deshpande misused their positions in sanctioning huge loans to the DSK Group. Former Bank of Maharashtra CMD Sushil Muhnot was arrested from Jaipur. Marathe, Gupta, Newaskar and Ghatpande were produced before special judge RN Sardesai in Pune who remanded them in police custody till June 27. (more...)
OPEC Works Toward Deal as Saudis Propose Plan for Higher Output OPEC Works Toward Deal as Saudis Propose Plan for Higher Output
- June 22, 2018

A 25 percent tariff on United States crude oil imports, as threatened by China in retaliation for duties Washington has announced but not yet implemented against Chinese products, would make American crude uncompetitive in China versus other supplies. (more...)
India Retaliates To Trump's Duty Hike, Raises Import Duties On US Products India Retaliates To Trump's Duty Hike, Raises Import Duties On US Products
- June 22, 2018

The new duty rates will be effective from August 4, the finance ministry said in a notification. India finalized its decision during a week when the global trade war escalated, with the United States enacting $50 billion in tariffs on Chinese goods and the European Union imposing $3 billion in levies on such products as US -made bourbon, peanut butter and Harley-Davidson motorcycles. (more...)
Interest rates held by Bank of England Interest rates held by Bank of England
- June 22, 2018

The Bank of England has held interest rate at 0.5% after the Monetary Policy Committee voted 6-3 in favour of no rise on Thursday. The pound jumped by about a cent against the dollar following the Bank's decision, climbing back above the $1.32 level, as the possibility of an August rate rise appeared to increase. (more...)
Intel boss Brian Krzanich ousted for violating 'fraternisation policy' Intel boss Brian Krzanich ousted for violating 'fraternisation policy'
- June 22, 2018

But he steered Intel through questions over whether the company could remain dominant as the world went more mobile, investing in everything from drones to virtual reality. Instead, he has resigned over what Intel reports as a violation of the company's non-fraternisation policies - put in place to prevent management from entering into a romantic relationship with their staff. (more...)
New Volvo plant opens in SC — Made in America New Volvo plant opens in SC — Made in America
- June 21, 2018

After selling a record 571,577 vehicles globally in 2017, Volvo is on pace to sell 600,000 vehicles for the first time in its 91-year history this year, helped by strong demand in the US, where sales are up more than 40 percent after five months to 37,754. (more...)
Difficult Merkel allies mull next move in German migrant row Difficult Merkel allies mull next move in German migrant row
- June 21, 2018

He wants her to turn away migrants who are already registered in other European Union countries, a contradiction of Germany's current policy. In addressing further combating the migration crisis, Merkel noted Germany would bar migrants who are already registered in other European nations. (more...)
Chinese paper says Trump administration has 'blood lust' over trade Chinese paper says Trump administration has 'blood lust' over trade
- June 21, 2018

China has hiked its list of USA goods on which it said it would slap tariffs six-fold from a version released in April, but the value was kept at US$50 billion, as some high-value items such as commercial aircraft were deleted. Trump said on Tuesday the two nations had a good relationship and could work out a trade agreement on their own. Businesspeople and economists say Chinese leaders are less likely to compromise on technology. (more...)
Audi CEO Arrested Over Diesel Emissions Scandal Audi CEO Arrested Over Diesel Emissions Scandal
- June 21, 2018

Stadler was arrested this morning". In doing so, VW said it admitted its "responsibility for the diesel crisis". However, Audi's supervisory board has yet to sign off on the nomination, the paper said. because Germany has a policy of not extraditing its nationals to countries not located within the European Union. U.S. prosecutors also indicted Winterkorn last month, saying he knew of the company's emissions cheating as early as May 2014 but chose to continue. (more...)
Telstra hit by another mobile outage Telstra hit by another mobile outage
- June 21, 2018

TELSTRA customers are facing yet another mobile phone outage amid reports the company's 3G and 4G networks are struggling to connect users in nearly all Australian capitals. Telstra yesterday took to Twitter to address reports of an outage, clarifying that the issue was not nationwide. "During this time some Telstra Wholesale end users may not have been able to connect their services". (more...)
European Union to impose countertariffs on United States products as of Friday
- June 21, 2018

The tariffs, which come as a direct reaction to U.S. President Donald Trump's decision to hit the European Union with tariffs on steel and aluminum, will apply from Friday, the Commission said in a press release . The tariffs, which will hit American products including motorcycles and denim, are a response to Trump administration tariffs on steel and aluminum exports from Europe. (more...)
Oil prices rise ahead of OPEC’s June 22 meeting Oil prices rise ahead of OPEC’s June 22 meeting
- June 21, 2018

Refineries' crude runs rose to 17.7 million barrels per day, the highest on record for this time of year, the EIA data showed. Oil catches some much-needed lift on United States crude stocks declines. It's anyone's guess what individual OPEC members will decide to do if the meeting ends without an agreement, but in all likelihood those that can produce more will do so, if only to keep their market share in the face of rising USA and other non-OPEC supply. (more...)
B.C. to spend $550M on Indigenous housing over next decade B.C. to spend $550M on Indigenous housing over next decade
- June 21, 2018

Housing Minister Selina Robinson says they know Indigenous Peoples face extraordinary housing challenges and the new fund will be a major step forward in making sure there is more safe and secure housing available. BC Housing will send out a request for proposals to identify prospective partners, including Indigenous non-profit housing providers, First Nations, Métis Nation British Columbia, and non-profit and for-profit developers, wanting to partner with Indigenous housing providers and ... (more...)

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