Finance

What Trump's tough-guy act at North Atlantic Treaty Organisation was really about

Since taking office, President Donald Trump has repeatedly criticized North Atlantic Treaty Organisation over how the alliance is funded and pressured other member states to increase defense spending. Merkel told reporters there followed a discussion with assurances to Trump that spending was increasing - something he later acknowledged was happening at an unprecedented rate. [Full Article...]

U.S. senators want ban on China's ZTE, despite Trump action

U.S. senators want ban on China's ZTE, despite Trump action The ban, which was imposed in April and caused ZTE to cease major operations, has been a source of friction between Washington and Beijing, which are engaged in an escalating trade dispute. The reprieve for ZTE coincides with a new Trump administration threat of 10 percent tariffs on US$200 billion of Chinese goods. In its statement, the Commerce Department said the ZTE action is a law enforce... [Full Article...]

Deadly bacterial outbreak sparks food recall in Australia

Deadly bacterial outbreak sparks food recall in Australia Aldi , Lidl, Iceland, Sainsbury's, Tesco, and Waitrose have recalled frozen vegetable packages, including packets of sweetcorn and mixed vegetables, because they could contain listeria monocytogenes, which can cause listeriosis. Consumers should not consume this product and should return it to the place of purchase for a full refund. ALDI - Market Fare Corn Kernels 1kg Queensland, VIC, WA an... [Full Article...]

Trump sends political shockwave through United Kingdom with interview on Brexit, protests

Trump sends political shockwave through United Kingdom with interview on Brexit, protests At its heart is a proposal for a new U.K. -EU "free trade area", with interlinked customs regimes, and identical regulations for industrial goods and agri-food. He obviously likes me, and says very good things about me. But the environment secretary said he was not sure he possessed the "diplomatic skills" to bring Mr Trump around to his way of thinking. [Full Article...]

More rate hikes on way?

More rate hikes on way? The Bank of Canada is widely expected to raise its trend-setting interest rate today for the first time in six months. Poloz recently said the impacts of the U.S. The bank had been criticized for a surprise rate hike last September. "Temporary factors are causing volatility in quarterly growth rates: the bank projects a pick-up to 2.8% in the second quarter and a moderation to 1.5% in the thir... [Full Article...]

BPCL, HPCL and International Olympic Committee surge up to 6% as crude prices tumble

BPCL, HPCL and International Olympic Committee surge up to 6% as crude prices tumble Washington had previously said countries must halt all imports of Iranian oil from November 4 or face USA financial restrictions, with no exemptions. However, Iran exports might squeeze further if United States takes more aggressive stance on sanctions, they said. [Full Article...]

Donald Trump lashes out at drug company for price hikes

Donald Trump lashes out at drug company for price hikes The company added that prices will return to the levels before the July 1 price hike "as soon as technically possible" and will remain in effect until the Trump blueprint goes into effect or by the end of this year - whichever is sooner. Some of the drug prices increased by double digit percentages. Importantly, list prices do not reflect what most patients or insurance companies pay. [Full Article...]

Turkey's Erdogan unveils new cabinet

Turkey's Erdogan unveils new cabinet Erdogan, as AK Party chair, won a great victory in the July 2007 general elections, and established Turkey's 60th government by winning 46.6 percent of the vote as well as a vote of confidence. Erdogan, the most popular and divisive leader in recent Turkish history, has now formally become the most powerful leader since Mustafa Kemal Ataturk founded the republic from the ruins of the Ottoman em... [Full Article...]

Bank of Canada delivers another hike, key interest rate rises to 1.5%

As in April, the projection incorporates an estimate of the impact of trade uncertainty on Canadian investment and exports. The bank's relatively sanguine view of the trade risk boosted the Canadian dollar to its strongest in almost four weeks, and economists said they expected the central bank to hike again by year end. [Full Article...]

Trade War Tension Jolts Global Stock Markets

Trade War Tension Jolts Global Stock Markets Initially Chinese President Xi Jinping appeared to relent with the suggestion that they may lower tariffs on imports of USA auto imports to the country. "The United States will be opening fire on the whole world and also opening fire on itself", said China's Commerce Ministry spokesperson on Thursday, reiterating that Beijing will fight back. [Full Article...]

Pompeo talks tough on Iran while visiting the Emirates

Pompeo talks tough on Iran while visiting the Emirates This is especially true because the U.S. never really had much justification for withdrawing from the nuclear deal in the first place, beyond President Trump personally having problems with it. Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export termina... [Full Article...]

Iran to continue oil exports despite USA disruptive measures: Zanganeh

Iran to continue oil exports despite USA disruptive measures: Zanganeh The US State Department said last week that certain countries, including India and South Korea, will be allowed reduced flows of Iranian oil. But if anything, Trump's bluntness is refreshing: if, as he suggests, the objective of the USA military - with a yearly total budget of a trillion dollars - is to protect OPEC members in exchange for "cheap oil", how cheap is that oil? Surging prices led T... [Full Article...]

JetBlue crew saves French bulldog with oxygen mask during flight

JetBlue crew saves French bulldog with oxygen mask during flight The bulldog may not have survived if not for flight attendants , who brought bags of ice and then a small oxygen tank with a mask. In a letter to JetBlue shared on Facebook , a woman named Michelle writes about her experience on a flight to Worcester County, Massachusetts with her husband and her dog , Darcy. [Full Article...]

What Is the Endgame for the Trump Trade Wars?

What Is the Endgame for the Trump Trade Wars? The tariffs could take effect after public consultations end on August 30, according to a statement from the U.S. Trade Representative's office Tuesday. Rather than address our legitimate concerns, China has begun to retaliate against US products. Trump then promised tariffs on about 1,300 Chinese products. [Full Article...]

Turkey: President to make top military appointments

Recep Tayyip Erdogan said Turkey was "entering a new era" as he was sworn in as the country's first executive president on Monday, giving him sweeping new powers which critics warn will lead to authoritarianism. "After backtracking on his own words that he would never travel overseas, President Edgar Lungu chose to miss the AU Head of States Summit in Mauritania which was making continental de... [Full Article...]

Timehop admits attacker stole 21 million users' data

Timehop admits attacker stole 21 million users' data Timehop has disclosed a security breach that has compromised the personal data (names and emails) of 21 million users (essentially its entire user base). That's very clearly a major security failure - but one Timehop does not explicitly explain, writing only that: "We have now taken steps that include multifactor authentication to secure our authorization and access controls on all accounts". [Full Article...]

Buhari congratulates Turkish President, Erdogan, on his re-election

Buhari congratulates Turkish President, Erdogan, on his re-election The issue still polarises Turkey. Opponents say the move marks a lurch to authoritarianism, accusing Erdogan of eroding the secular institutions set up by modern Turkey's founder, Mustafa Kemal Ataturk, and driving it further from Western values of democracy and free speech. [Full Article...]

Oil Prices Up on Weak US Crude Inventory

Oil Prices Up on Weak US Crude Inventory Shares of top oil marketing companies led the gains on NSE index, as US-China trade war fears weighed on oil prices. Brent crude futures were down 7 cents, or 0.1 per cent, at $77.32. " We will switch to either Middle East or West African supplies ", he said. "They (Chinese importers) are not going to be intimidated, or swayed by US sanctions". [Full Article...]

Soybean farmer reacts to China tariffs: ‘A lose-lose situation’

Soybean farmer reacts to China tariffs: ‘A lose-lose situation’ The Foreign Ministry in Beijing said retaliatory measures "took effect immediately", with state news agency Xinhua confirming they involved 25% tariffs on an equal amount of goods. tariffs targeted at China have an impact beyond its borders. Because products that are made in China - from Apple products to Nike ones - are going to get expensive, and be more expensive on the shelves of Walmart... [Full Article...]

Dominic Raab replaces David Davis as new Brexit secretary

Dominic Raab replaces David Davis as new Brexit secretary In a statement, No 10 thanked Mr Johnson for his work and said a replacement would be announced shortly. Davis said the so-called "soft Brexit" plan, which proposes maintaining a "UK-EU free-trade area" would leave the U.K.in "at best, a weak negotiating position and at worst, an inescapable one". [Full Article...]


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