Money


Justice Department appeals approval of AT&T / Time Warner merger Justice Department appeals approval of AT&T / Time Warner merger
- July 14, 2018

A court could theoretically force AT&T and Time Warner to reverse the merger. But after a six week trial, Leon said he didn't buy that, and signed off on the deal with no conditions and knocked down the government's contentions point by point. (more...)
Latin America Energy, Oil and Gas, News and Information Latin America Energy, Oil and Gas, News and Information
- July 14, 2018

Such a tariff would make American crude oil uncompetitive in China , and US oil sellers will have to find alternative buyers for their crude to replace the volumes they are now selling to their second-largest oil customer after Canada. "Libyan relief changes the conversation about spare capacity ", said John Kilduff, a partner at Again Capital Management. Last month, the United States said it wanted to reduce oil exports of fifth-biggest producer Iran to zero by November. (more...)
Despite Trump efforts, U.S. trade deficit with China hits record Despite Trump efforts, U.S. trade deficit with China hits record
- July 13, 2018

Asked if China was breaking WTO rules by imposing retaliatory tariffs on USA goods without first launching a formal legal dispute, Wang said China could not wait years for a ruling on the U.S. But comments from China's commerce ministry indicated that June's figures are a blip, a result of Chinese companies pushing to get products out the door before the tariffs went into effect, according to Reuters . (more...)
Trump in London amid protests and Brexit turmoil Trump in London amid protests and Brexit turmoil
- July 13, 2018

Donald Trump has launched an extraordinary attack on Theresa May , saying she ignored his advice on Brexit and had, therefore, put a potential trade deal with the USA at risk. I don't know if that is what they voted for". It wants to support businesses to move staff between the two territories, allows mobility for students and young people, and allow citizens to travel without visas for tourism and temporary business activity. (more...)
Australia and NZ recall frozen vegetables over listeria fears Australia and NZ recall frozen vegetables over listeria fears
- July 13, 2018

The Victorian Department of Health and Human Services has revealed that a Victorian may have contracted listeria as a result of consuming the recently recalled frozen vegetables. It is particularly risky for pregnant women and their unborn babies, and can cause death in people with compromised immune systems. She adds the decision to recall the products is a precaution based on instructions of the European Union (EU). (more...)
Bank of Canada raises key interest rate target to 1.5 per cent Bank of Canada raises key interest rate target to 1.5 per cent
- July 13, 2018

For one, Poloz said the bank can't make policy decisions based on "hypothetical scenarios". The bank said US steel and aluminum tariffs imposed in June and retaliatory countermeasures by Canada in July would trim exports, imports and economic growth, and boost inflation, but strong global demand and higher commodity prices were offsetting the tariff headwind. (more...)
Under pressure from Trump, Pfizer agrees to roll back price hikes Under pressure from Trump, Pfizer agrees to roll back price hikes
- July 12, 2018

The company's price hikes on 100 products went into effect on July 1. "The list price remains unchanged for the majority of our medicines". That gives Trump, who made lowering prescription drug prices a top 2016 presidential campaign issue, a short-term victory he can point to in the run-up to the elections, which are being closely watched to see if Trump's fellow Republicans will be able to maintain control of both the Senate and the House of Representatives. (more...)
Pompeo talks tough on Iran while visiting Emirates Pompeo talks tough on Iran while visiting Emirates
- July 12, 2018

Pompeo also warned Tehran that "America is committed to keeping sea lines open, keeping the transit of oil available for the entire world", in a response to Iranian President Hassan Rouhani's suggestion that any disruption of Iranian oil exports could result in the disruption of oil exports throughout the region. (more...)
New tariffs readied for Chinese goods New tariffs readied for Chinese goods
- July 12, 2018

China was also the third-largest destination for USA propane exports past year, behind only Japan and Mexico. The retaliatory tariffs that China enacted Friday targeted USA cars and major agricultural goods, such as soybeans and meat. The United States is playing a risky game as China is one of the United States' most important trading partners, with about $630 billion (-$130 deficit) in trade done in 2017, not far behind Canada ($670 billion, +$8 billion surplus) and just ahead of Mexico ... (more...)
Erdogan to attend North Atlantic Treaty Organisation meeting in Brussels | Turkey Erdogan to attend North Atlantic Treaty Organisation meeting in Brussels | Turkey
- July 12, 2018

Erdogan will this week immediately turn to foreign policy, visiting northern Cyprus and Azerbaijan, followed by more challenging encounters at a North Atlantic Treaty Organisation summit in Brussels where he will meet US President Donald Trump and other leaders. (more...)
21st Century Fox Ups Sky Bid To $32.5B, Topping Rival Comcast 21st Century Fox Ups Sky Bid To $32.5B, Topping Rival Comcast
- July 12, 2018

Fox could face further competition from the United States cable giant Comcast, however, after it forced Sky's independent directors to drop their previous backing for Fox with an unexpected £12.50-a-share bid for the group in February. seems no closer to a conclusion even after Wednesday actions, which were surprising only in that both Comcast and Fox seemed eager to get the fight on. (more...)
US to slap tariffs on extra $200 billion of Chinese imports US to slap tariffs on extra $200 billion of Chinese imports
- July 12, 2018

TRT World's Kevin McAleese reports from Washington DC. More than 6,000 items could be affected - including burglar alarms, vehicle tyres, handbags, baseball gloves, carpets, toilet paper, dog food, and hundreds of food products. Less than a week into the trade war with China , President Trump is already thinking about levying more tariffs against goods imported from that nation to the U.S. (more...)
Turkey’s army may come under authority of defence ministry: President Erdogan
- July 12, 2018

Marc Pierini, a former European Union ambassador to Turkey and a visiting scholar at Carnegie Europe, said Erdogan's new powers would effectively make him a "super-executive president". The coup was led by military leaders who opposed Erdogan's push to make Turkey more Islamic and less secular. "In other words, Turkey will be an institutionalized autocracy". (more...)
Sorry Donald, no one is going to 'win' your trade war Sorry Donald, no one is going to 'win' your trade war
- July 11, 2018

China , for its part, has promised at each step of the way to retaliate in kind. "We are un-willing to fight, but in order to safeguard the interests of the country and the people, we have to fight if necessary". Economists have for months warned of the potential damage to the US and global economies from aggressive trade policies and protectionism, which would raise prices and upend global supply chains . (more...)
Iranian Oil Minister Describes Trump’s Order To OPEC as Iranian Oil Minister Describes Trump’s Order To OPEC as "Insulting"
- July 11, 2018

Washington's withdrawal from the landmark Iran nuclear deal was widely criticized across the world. When President Trump Tweeted last week that Saudi Arabia agreed to begin pumping additional oil to make up for the removal of Iran from the global markets, the Saudis very quickly corrected him, saying that while they could increase capacity if needed, no promise to do so had been made. (more...)
U.S. may list tariffs on $200 billion more Chinese products U.S. may list tariffs on $200 billion more Chinese products
- July 11, 2018

The Trump administration announced Tuesday that it has started the process of implementing fresh tariffs on $200 billion worth of imported Chinese goods. China has vowed to retaliate dollar-for-dollar to any further USA tariffs. Industry groups have also highlighted the duties' potential to derail US economic growth. (more...)
UK: David Davis resigns as Brexit Secretary UK: David Davis resigns as Brexit Secretary
- July 10, 2018

Davis gave a speech urging colleagues to get behind May, while Johnson raised a toast to the prime minister during dinner, people briefed on the encounter said. Prime Minister Theresa May has defended her Brexit plans. "This is a proposal that I believe will be good for the United Kingdom and good for the European Union, and I look forward to it being received positively", Mrs May told the BBC. (more...)
Erdoğan sworn in as Turkish president with enhanced powers Erdoğan sworn in as Turkish president with enhanced powers
- July 10, 2018

Erdogan's restructuring is the most significant adjustment of the country's political system since the formal establishment of modern Turkey, which supplanted the shattered remains of the Ottoman Empire . Hours after he was sworn in with sweeping new powers at a ceremony in the capital of Ankara late on Monday, Erdogan named Berat Albayrak as treasury and finance minister. (more...)
United States and China on brink of trade war, oil markets tense United States and China on brink of trade war, oil markets tense
- July 09, 2018

Baker Hughes reported an increase in the number of active oil rigs in the United States today. U.S. West Texas Intermediate crude futures ended Friday's session up 86 cents a barrel, or 1.2%, to $73.80/Bbl, Kallanish Energy reports . (more...)
The unintended consequences of Trump’s trade war with China The unintended consequences of Trump’s trade war with China
- July 09, 2018

The president said US tariffs on an additional $16 billion in Chinese goods are set to take effect in two weeks. Iowa soybean farmer Ron Heck on the impact of USA trade tensions with China on farmers in America. Ok?" "We have to be aware that we are only one tweet away from much broader tariffs becoming a reality", she said, adding that investors were trimming broad exposure to riskier assets. (more...)

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