• European Union prepares retaliatory tariffs on $20 billion of US goods

    European Union prepares retaliatory tariffs on $20 billion of US goods

    Money

    Trump tomorrow is to meet with European Commission president Jean-Claude Juncker, who will try to dissuade the US president from escalating the trans-Atlantic trade conflict. Republican Senator Ben Sasse , a frequent Trump critic, said the president's trade policies recalled a past of perilous economic instability. "I don't want us to have yet another one".
  • China Building a Free Trade Network

    China Building a Free Trade Network

    Money

    Its complaint to the organization, which oversees global trade rules, comes less than one week after the US government proposed 10 percent tariffs on a $200 billion list of Chinese goods, to take effect in September at the earliest. However, Nikkel reported that the Eastern nation will tariff 25 percent of energy commodities such as crude oil. The WTO faces collapse after the United States told the organisation last week that the "reckoning" over China's unfair trade policies is urgent and ...
  • Pound slumps on inflation figures

    Pound slumps on inflation figures

    Money

    Analysts' expectations had been for inflation's Consumer Prices Index 12-month rate to have risen to 2.6 per cent last month. "The economic data from the United Kingdom economy continues to be confusing and may lead markets to doubt the expected interest rate rise at the start of next month".
  • British PM Theresa May faces down revolt over Brexit trade bill

    British PM Theresa May faces down revolt over Brexit trade bill

    Money

    She said Labour was in an "even greater mess" than the Conservatives, with the 'old Trotskyists in charge. "Problem is, I don't think she's in charge any more". This week's votes "showed that the hard Brexit Conservatives have the numbers to sway the government's Brexit strategy, in contrast to the Rebel Remainers who have lost or withdrawan some of their key amendments".
  • Murdoch's Fox beats Comcast with agreed $32.5 billion bid for Sky

    Murdoch's Fox beats Comcast with agreed $32.5 billion bid for Sky

    Money

    Hong Kong-based hedge fund Case Equity Partners, a Sky investor, said the fact Disney was in a slightly more favourable position for Fox's USA media assets meant Comcast would fight even harder to get Sky. Sky's shares were trading 3% higher as investors were betting on a higher bid from Fox to see off Comcast's competition. RBC Capital Markets analyst Steven Cahall issued a report today noting that, with the bid for Sky, Comcast may be choosing sides as the cable giant simply can't afford ...
  • Prime minister faces critical moment as David Davis quits

    Prime minister faces critical moment as David Davis quits

    Money

    Another two Conservative MPs have just resigned from their roles over Theresa May's plans for Brexit . "I get along with her very well, I have a very good relationship", he said. Pro-Europeans want to retain close economic ties with the bloc and its market of 500 million people, while some Brexit supporters want a clean break to make it possible to strike new trade deals around the world.
  • Six boys exit the cave, says senior official

    Six boys exit the cave, says senior official

    Money

    Chiang Rai's Governor Narongsak Osotthanakorn announced that no further action would be taken until the Thailand rescue team ensured everyone that all conditions were stable for a second wave of evacuations. Narongsak Osatanakorn, who is overseeing the mission. Falling oxygen levels, and with numerous boys not able to swim well, present further risks should they panic as they are guided slowly through the pitch-black waters.
  • Micron Says China Ban Won't Hurt Earnings But Ruling Is Unfair

    Micron Says China Ban Won't Hurt Earnings But Ruling Is Unfair

    Money

    Washington says the measures are a response to intellectual property theft by China. "The Fuzhou Court issued this preliminary ruling before allowing Micron an opportunity to present its defense", said Joel Poppen , senior vice president, legal affairs, general counsel and corporate secretary at Micron Technology .
  • Confusion Hits Chinese Ports As Trump's Tariffs Go Into Effect

    Confusion Hits Chinese Ports As Trump's Tariffs Go Into Effect

    Money

    There was no evidence of any last-minute negotiations between US and Chinese officials, business sources in Washington and Beijing said. Trump's tariffs are the result of an investigation by the administration into the theft of United States intellectual property by Chinese firms and their government.
  • Dwight Howard joining Wizards on one-year deal

    Dwight Howard joining Wizards on one-year deal

    Money

    They've surrounded the NBA's best player with a couple of the league's wackiest players in Lance Stephenson and JaVale McGee. However adding a player like Howard, even if his scoring has declined some since his prime, would add a major physical and (most importantly) rebounding presence down low.
  • Boycott alert: Walmart sells

    Boycott alert: Walmart sells "Impeach 45" t-shirts

    Money

    Walmart did not list the clothing for sale itself - it was being sold on its third-party marketplace and made by apparel company Old Glory , a company that sells hundreds of different T-shirts that feature all kinds of phrases. We have reached out to Walmart for comment, and will update this story with more details when the company responds. "We're removing these types of items pending review of our marketplace policies", a Walmart spokesperson told TIME.
  • Kicked Out Of Toys R Us On Its Last Day?

    Kicked Out Of Toys R Us On Its Last Day?

    Money

    The company announced back in September 2017 plans to file for bankruptcy , according to the Deseret News . Meanwhile, a picture posted Wednesday of the chain's mascot, Geoffrey the Giraffe, with his luggage packed up and ready to go quickly went viral, garnering almost 300,000 shares by Friday morning.
  • Trump, Iran trade sharp words over oil prices ahead of OPEC meeting

    Trump, Iran trade sharp words over oil prices ahead of OPEC meeting

    Money

    But the US request and a Trump tweet in April that blamed OPEC for high oil prices has caused a split within the oil group, with some members accusing Saudi Arabia of being too eager to do Trump's bidding. Oil price report released yesterday by OPEC showed that Brent crude was down 20 cents at $75.68 a barrel, as US light crude was 35 cents lower at $66.01.
  • United States will crack down on all countries trying to steal its technology

    Money

    A Chinese woman adjusts a Chinese national flag next to US national flags before a Strategic Dialogue expanded meeting, part of the U.S. U.S. stocks on Monday briefly fell more than 2 percent from Friday's close and senior White House economic adviser Peter Navarro appeared on television to try to calm investor fears about a possible trade war .
  • Trump berates Democrats as he begs for their votes on immigration bill

    Trump berates Democrats as he begs for their votes on immigration bill

    Money

    Trump signaled the more conservative bill's grim fate when he tweeted earlier Thursday: "What is the objective of the House doing good immigration bills when you need 9 votes by Democrats in the Senate, and the Dems are only looking to Obstruct (which they feel is good for them in the Mid-Terms)".
  • Greece heads for bailout exit after deal with creditors

    Greece heads for bailout exit after deal with creditors

    Money

    European Economic and Financial Affairs Commissioner Pierre Moscovici spoke of a "historical moment for Greece" and said a new chapter was beginning for the country. "This is a very tight programme". A dedicated section in the long list of commitments that Greece will be asked to undertake for after its bailout includes sales and leases of state assets, from the Athens International Airport and the country's gas-grid operator Desfa by the end of this year, to Hellenic Petroleum by mid-2019, ...