Money


Oil rises on supply disruptions, US push to shut out Iran Oil rises on supply disruptions, US push to shut out Iran
- June 27, 2018

NY futures gained as much as 1.3 per cent, after advancing 3.6 per cent on Tuesday. This helped further shrink USA crude's discount to global benchmark Brent WTCLc1-LCOc1 to as small as $4.78. - US President Donald Trump is calling on other countries to end their imports of crude oil from Iran. Net U.S. crude imports fell last week by 512,000 barrels per day. (more...)
CBO Warns U.S. Interest Costs to Match Social Security by 2048
- June 27, 2018

Higher interest payments will come as public debt surges from an estimated 78 percent of GDP in 2018 to 152 percent by 2048, a record for the country "by far", the CBO said. The annual projections from the independent congressional body drew a grim picture of America's fiscal situation, forecasting that interest costs as a share of GDP will double in the next 10 years - rising to 3.1 percent from 1.6 percent this year. (more...)
Harley-Davidson To Shift Production Overseas To Offset EU Tariffs
- June 27, 2018

The company's decision surprised Trump. A Harley-Davidson should never be built in another country-never! That was long before Tariffs were announced. The EU raised an existing tariff it had on the company's motorcycles by nearly five times in retaliation for the U.S.' tariffs on EU aluminum and steel. (more...)
Conagra Brands is nearing a deal to buy Pinnacle Food Conagra Brands is nearing a deal to buy Pinnacle Food
- June 27, 2018

Revamping and modernizing its frozen foods has been part of Conagra's quest in recent years under CEO Sean Connolly. The news comes days after sources told Reuters that Pinnacle Foods , the owner of Birds Eye frozen foods and Mrs. The transaction also includes Pinnacle's outstanding debt, the companies said Wednesday. Pinnacle shareholders, who will vote on the sale, are to receive $3 billion worth of Conagra stock, giving them about 16 percent ownership of Conagra . (more...)
Facebook Reverse Ban On Crypto Advertising, But There's A New Policy Facebook Reverse Ban On Crypto Advertising, But There's A New Policy
- June 27, 2018

As of today, Facebook has reversed its decision on cryptocurrency - but only for advertisers who have been pre-approved by the company. Facebook says it will also continue to gather feedback and may make further tweaks to its policy , if necessary. (more...)
Oil prices rise on uncertainty over Libyan crude oil exports Oil prices rise on uncertainty over Libyan crude oil exports
- June 27, 2018

Stockpiles at Cushing have slumped for five weeks with the start of the summer driving season when demand peaks. U.S. Energy Secretary Rick Perry said on Monday a deal between global oil producers to boost crude output reached last week may not be enough to relieve global oil markets that are stressed by supply constraints. (more...)
China cuts reserve requirements for some banks after stock market slump China cuts reserve requirements for some banks after stock market slump
- June 27, 2018

China's central bank has chose to cut the country's reserve requirement ratio (RRR) for commercial banks by 0.5%, opening up a potential RMB 700 billion ($100 billion) for lending in the face of a slowing second half of the year and a looming US-China trade war. (more...)
Harley-Davidson to shift motorbike production overseas over European Union tariffs Harley-Davidson to shift motorbike production overseas over European Union tariffs
- June 27, 2018

The European Union's decision to place tariffs on various us products was in retaliation to the Trump administration's move to impose tariffs on all European steel and aluminum imports to the U.S. trade deficit would be whittled down in no time considering a growing economy like India would be buying 1000 or more aircraft and huge reserves of energy from the United States., not to speak of the growing military purchases. (more...)
U.S. to limit Chinese investment in American tech firms U.S. to limit Chinese investment in American tech firms
- June 27, 2018

The European Union and China are teaming up to rewrite global trade rules, their latest move in a wider fightback against the trade war Donald Trump has launched as part of his "America First" agenda. But the Communist government has resisted any change to its plans that call for challenging US and European technology dominance by creating Chinese companies capable of competing in fields including clean energy, biotech and aerospace. (more...)
Brussels to Trump: We’re not backing down on trade Brussels to Trump: We’re not backing down on trade
- June 27, 2018

Harley-Davidson has shifted some of its production to India and Thailand in the face of high tariffs in those countries. He later added , "The Aura will be gone and they will be taxed like never before! ". Trump also tweeted in defense of his tariffs , saying that the European Union had "long taken advantage of the U.S." when it came to trade. "Hence, they were just using Tariffs/Trade War as an excuse". (more...)
Social media reacts to the elections — Turkey on Twitter Social media reacts to the elections — Turkey on Twitter
- June 27, 2018

He faces 142 years in prison if convicted. Ince told reporters on Monday: "I accept the results of the election ". Instead, Mr Erdogan claimed victory in the early hours of Monday morning with 53 per cent of the vote. He's governed the country under a state of emergency since a coup attempt in 2016 and Mr Erdogan now enjoys overwhelmingly favourable media coverage after he closed critical media outlets or had his supporters take them over. (more...)
Protests in Iran as Rouhani says US wants 'economic war' Protests in Iran as Rouhani says US wants 'economic war'
- June 27, 2018

Protesters called for shop owners to close their businesses as the demonstrations ramped up on Monday.They marched to the gates of Iran's parliament, and police tried to quell them with what multiple news outlets said appeared to be tear gas . (more...)
Harley-Davidson to make more motorcycles outside the US Harley-Davidson to make more motorcycles outside the US
- June 27, 2018

Last year, Harley-Davidson announced it would build a plant in Thailand after Trump pulled out of the Trans Pacific Partnership (TPP) trade deal, which would have abolished tariffs on their motorcycles across 40 percent of the world's economy. (more...)
Tesla Semi Test Vehicles Are Equipped With Puzzling ‘Mad Max’ Mode Tesla Semi Test Vehicles Are Equipped With Puzzling ‘Mad Max’ Mode
- June 27, 2018

Now, Tesla seems to be bringing a silly new mode to their upcoming Tesla Semi vehicle. " Mad Max " won't run another vehicle off the road, but it's probably near the minimum allowable distance. However, Tesla has also teased other Autopilot offerings like " Plaid " mode, which would let cars accelerate to 60mph in less than two seconds. That's even faster than Tesla's " Ludicrous Mode", which allows vehicles to rev up to 60mph in three seconds. (more...)
Trump Calls On Allies to Quit Buying Iranian Fuel. Oil Prices Soar
- June 27, 2018

The diplomatic efforts will affect several key US allies that import significant amounts of Iranian oil, including Japan, South Korea and Turkey. European powers in particular have been attempting to negotiate exemptions for their firms, but the official confirmed that Trump intends to stick to his 180-day deadline, expiring November 4. (more...)
Investment in United Kingdom auto industry halves amid Brexit uncertainty Investment in United Kingdom auto industry halves amid Brexit uncertainty
- June 27, 2018

The bill took almost a year to pass, after first being introduced in Parliament last summer, with more than 250 hours of debate in the Commons and the Lords, more than 1,400 amendments tabled, and one serious challenge over the meaningful vote. (more...)
India looks to revive rupee payment for Iran oil imports
- June 26, 2018

The Persian nation is facing tightening squeeze on its oil exports. The official said a USA delegation would head to the Middle East next week to encourage Gulf oil producers to ensure global oil supplies as Iran is cut out of the market as of November. (more...)
Flailing GE Moves To Ditch Stake In Baker Hughes
- June 26, 2018

The strategy also includes the spin-off of GE Healthcare into a standalone company, by generating cash from the sale of some 20 percent of GE Healthcare and distributing the remaining 80 percent to GE shareholders through a tax-free distribution. (more...)
AlipayHK Opens Blockchain Remittance Corridor to the Philippines AlipayHK Opens Blockchain Remittance Corridor to the Philippines
- June 26, 2018

Speaking at the launch event, Jack Ma, Alibaba Group co-founder, said he wants to make it possible for people to remit even 1 cent at nearly no cost, compared with the high fees charged by traditional remittances services like MoneyGram. This was not the first time Ma was bashing Bitcoin . Towards the end of a year ago, he admitted to having little understanding of the flagship cryptocurrency though he restrained from calling it a bubble. (more...)
Brexit bill becomes law, allowing United Kingdom to leave European Union
- June 26, 2018

In an announcement to the House of Commons this afternoon, Speaker John Bercow revealed the bill was among several to have been approved by the Queen. who look at the Brexit decision as a personal insult against them, because they simply did not believe that the British would dare make the decision to leave the European Union". (more...)

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