Money


Harley-Davidson shifts some production overseas to cope with tariffs Harley-Davidson shifts some production overseas to cope with tariffs
- June 25, 2018

Harley-Davidson said it plans to bear increased costs to avoid a decrease in sales in the EU. In a Securities and Exchange Commission filing Monday, Harley-Davidson said the tariffs imposed by the European Union "would have an immediate and lasting detrimental impact to its business in the region". (more...)
Tens of thousands march in London demanding second Brexit vote Tens of thousands march in London demanding second Brexit vote
- June 25, 2018

Both the Conservatives and the main opposition Labour Party oppose holding another Brexit referendum, but the smaller, centrist Liberal Democrats support a new vote. Amid the uncertainty, European Union leaders are growing frustrated with what they see as a lack of firm proposals from the U.K about future relations. (more...)
Chancellor Angela Merkel advocates bilateral, trilateral deals over migrants to EU Chancellor Angela Merkel advocates bilateral, trilateral deals over migrants to EU
- June 25, 2018

The 16 heads of government and state are responding to alarm about growing rifts not only among the EU's 28 members but also within the German government itself, the bloc's most powerful. The premier said on Facebook Thursday that Merkel had called because she was anxious that he might not attend the meeting. Unless all European Union states agree at their looming June 28-29 summit to share out asylum seekers more evenly, Seehofer has threatened to introduce an entry ban on the German border ... (more...)
9000 barrels of bourbon crash to ground after building collapse 9000 barrels of bourbon crash to ground after building collapse
- June 25, 2018

Each barrel holds 53gallons of bourbon and weighs a whopping 550lbs, according to WLKY . Engineers are working to make sure that side of the warehouse doesn't collapse, as well. Barrel Warehouse #30 was built in the 1940s and held approximately 18,000 barrels. "We are assessing how numerous impacted barrels can be recovered", said Amy Preske, a spokeswoman for Sazerac, a Louisiana-based spirits company. (more...)
German business warns United Kingdom risks disorderly Brexit German business warns United Kingdom risks disorderly Brexit
- June 24, 2018

He added: "Put simply, a no-deal scenario directly threatens Airbus' future in the UK". Publishing a Brexit "risk assessment" on its website, the firm also called on the Government to extend the planned transition period due to run until December 2020 if a deal is agreed, saying it was too short for the business to reorganise its supply chain. (more...)
Rat shreds million in notes after getting into ATM in India Rat shreds million in notes after getting into ATM in India
- June 24, 2018

The rats munched through an estimated 1.2 million rupees (£13,000) worth of hard currency, local media reported. 'It looks like the rats entered the machine through a small opening for some wires'. Authorities started investigating after the ATM stopped working and the rat was found dead inside the machine, along with the shredded Indian money. (more...)
Bank of England votes 6-3 to hold interest rates at 0.5% Bank of England votes 6-3 to hold interest rates at 0.5%
- June 24, 2018

This should be a significant concern to the monetary policy committee in its attempt to meet its 2% inflation target, particularly since they downgraded the estimate for this year as part of the May inflation report. Bank of England Governor Mark Carney said Treasury's GBP 1.2 billion capital injection announcement is a ground-breaking financial arrangement and this would make the balance sheet fit for goal and the future. (more...)
Eurozone gets deal to pave way for end to Greece's bailout Eurozone gets deal to pave way for end to Greece's bailout
- June 24, 2018

Greece has needed massive financial aid from eurozone nations and worldwide creditors to survive financially for the past eight years. Euro zone finance ministers will decide on Thursday how much cash and debt relief to give Greece in return for compliance with economic reforms, to ensure Athens can finance itself after it exits its bailout in August. (more...)
Take Your Dog to Work Day: How to observe in Central Florida Take Your Dog to Work Day: How to observe in Central Florida
- June 24, 2018

According to their website, the company "feels that through the events, non-pet owners are able to witness the special bond their co-workers have with their pets firsthand and be encouraged to adopt a new best friend of their own". Petbarn Ipswich store manager Amanda Matthew said there were a lot of facts to support having a dog in the office. But there are considerations before creating an open-door dog policy. (more...)
Greece crisis declared 'over' as eurozone agrees debt relief Greece crisis declared 'over' as eurozone agrees debt relief
- June 24, 2018

The markets' initial positive reaction to the news of the agreement was reflected on the drop of Greek state 10-year bond yields to the lowest level since mid-May to 4.11 percent, Greek national news agency AMNA reported. This brings the final disbursement to €15 billion, according to several European Union officials familiar with the discussions. "But we should collectively find a way to alleviate the debt, either by extending the maturities of existing loans or by buying back the most ... (more...)
Thousands march demanding second Brexit vote
- June 24, 2018

Things have changed. Europe has changed. Liberal Democrat leader Sir Vince Cable said Brexit was "not a done deal" and could be reversed, while Green Party co-leader Caroline Lucas told the crowd that Brexit "will be a disaster for this country". (more...)
Daimler issues profit warning on back of US-China trade dispute Daimler issues profit warning on back of US-China trade dispute
- June 24, 2018

Last week US President Donald Trump announced 25 percent tariffs on $50 billion in Chinese imports, sparking trade war fears and prompting Beijing to retaliate with matching duties on American goods, including cars. Daimler's Mercedes-Benz brand has a factory in Tuscaloosa, Alabama, where it makes sports utility vehicles exported to the rest of the world, including China. (more...)
Online sellers consider how to comply with sales tax ruling Online sellers consider how to comply with sales tax ruling
- June 24, 2018

Now, thanks to a US Supreme Court ruling (PDF) on Thursday, they have to. Forty-five of the 50 states have sales taxes. Indiana Chamber of Commerce vice president of taxation and public finance, Bill Walz, says the change levels the playing field and will boost Indiana's sales tax base. (more...)
Trump threatens tariffs on cars, trucks, autos from EU, Europe Trump threatens tariffs on cars, trucks, autos from EU, Europe
- June 24, 2018

United States President Donald Trump yesterday threatened to impose 20 per cent duties on all imports of European Union-assembled cars as the bloc's tariffs on U.S. "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. (more...)
Defendant in Tesla sabotage lawsuit seeks whistleblower status Defendant in Tesla sabotage lawsuit seeks whistleblower status
- June 23, 2018

Teslas lawsuit , filed Wednesday in a Nevada federal court, accuses Tripp of hacking the companys computer systems in order to steal confidential photos and video of Teslas manufacturing systems and other trade secrets. The exchange had began with Mr Tripp saying: "You have what's coming to you for the lies you have told to the public and investors". Tripp has also been accused of making his exploit redundant, placing it on at least three separate internal workstations so that ... (more...)
Vintage Ferrari could fetch $45M at auction Vintage Ferrari could fetch $45M at auction
- June 23, 2018

Miraculously, it never crashed in any of the races and, according to Myers, is in a "highly original" condition. It's a well known example, and one that passed through a number of high-profile Ferrari collections in the United Kingdom before being exported to the U.S. (more...)
Oil prices up nearly 3 pct as OPEC agrees to raise output Oil prices up nearly 3 pct as OPEC agrees to raise output
- June 23, 2018

Mohammed Barkindo, Opec secretary general. A stronger dollar also kept oil prices in check as August WTI oil was down 17 cents or 0.3 percent to settle at $65.54/bbl. Iran faces constraints on its oil exports after Trump reimposed sanctions on May 8. A breakdown in talks would threaten the pact agreed in late 2016 to cut output by 1.8 million barrels per day (Mbd)-a level that has seen over-compliance of 152 percent, according to last night's monitoring committee meeting. (more...)
Russian Federation backs OPEC oil output hike Russian Federation backs OPEC oil output hike
- June 23, 2018

The OPEC + supply-cut pact struck in late 2016 and set to run until the end of the year, called on participants to trim output by 1.8 million barrels a day. "I agreed to have 100 percent of compliance, not more", Iran's Zanganeh said as he left OPEC headquarters on Friday. Compliance has been well above 100% this year since some countries, notably Venezuela , have seen a drop in production. (more...)
OPEC countries to pump more oil to contain price increase OPEC countries to pump more oil to contain price increase
- June 23, 2018

But many members cut even deeper, and political events around the world-turmoil in Venezuela and the end of the US nuclear deal with Iran-took additional volume off global markets. Senate Democrats have also called for OPEC to increase production, as well as blaming Trump's policies and his decision to ditch the Iran nuclear agreement for high prices. (more...)
Saudi Arabia's Stock Exchange Boosted Ahead of Aramco IPO Saudi Arabia's Stock Exchange Boosted Ahead of Aramco IPO
- June 23, 2018

The decision to upgrade Saudi Arabia's Standalone Market to an Emerging Market status is evidence of the success of development efforts in that regard, chairwoman of Saudi Arabia's stock exchange Tadawul, Sarah al-Suhaimi, said in a press conference on Thursday. (more...)

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