Business

Business Chinese paper says Trump administration has 'blood lust' over trade
Author: 0 Chinese paper says Trump administration has 'blood lust' over trade

President Donald Trump cranked up trade tensions by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind. Trump is pressing Beijing to scrap or roll back technology development strategies its trading partners say include stealing or pressuring companies to give up know-how in violation of its market-opening commitments.

Business Oil rises ahead of OPEC meeting while trade disputes loom over markets
Author: 0 Oil rises ahead of OPEC meeting while trade disputes loom over markets

Saudi Oil Minister Khalid al-Falih said that an OPEC committee ahead of the official meeting had agreed "to recommend releasing the equivalent of 1 million barrels or thereabout to the market". "While China could secure the crude from alternative sources, such as West Africa which has a similar quality to U.S. crude, the USA would find it hard to find an alternative market that is as big as China", Suresh Sivanandam, senior manager, Asia refining, at Wood Mackenzie, said earlier this week, ...

Business Trump Targets $200 Billion In Chinese Imports As Spat Grows
Author: 0 Trump Targets $200 Billion In Chinese Imports As Spat Grows

U.S. stocks stumbled early Tuesday, the morning after President Donald Trump threatened an all-out trade war with China . That move comes after his decision to slap a tariff of up to 25 per cent on $ 50 billion of Chinese imports , including including heavy equipment and medicines.

Business Trump Approves Tariffs On $50 Billion Worth Of Chinese Goods
Author: 0 Trump Approves Tariffs On $50 Billion Worth Of Chinese Goods

China will impose additional 25 percent tariffs on 659 US goods worth $50 billion (£37.6 billion) in response to the USA announcement that it will levy tariffs on Chinese imports , the Chinese commerce ministry said . China has said that it will retaliate with $50 billion in tariffs in response, rattling financial markets. After a spiralling trade dispute with President Donald Trump , China has announced its decision to hike the import duties on electric cars and a list of other goods ...

Business Germans ‘turning against their leaders’ over immigration
Author: 0 Germans ‘turning against their leaders’ over immigration

On July 1, after the completion of a two-day European Union summit, Merkel will meet with the CDU executive to discuss next steps, the chancellor said Monday. The German government said no special EU summit is planned, and that would be a matter for EU leaders in Brussels, but "of course the German government is holding talks with various member states and the (EU) Commission" about immigration in Europe.

Business Audi CEO Arrested In Connection With Volkswagen Emissions Scandal
Author: 0 Audi CEO Arrested In Connection With Volkswagen Emissions Scandal

Munich prosecutors investigating Audi's role in the 2015 scandal confirmed they arrested Stadler in the Bavarian capital because of risk that he may tamper with evidence, according to an e-mailed statement Monday. Autocar is due to receive an official comment from Audi imminently. And The Associated Press reports that Stadler, who has spent almost 30 years working for Audi, is under investigation for "fraud and indirect improprieties with documents".

Business Kellogg's recalls Honey Smacks cereal after nationwide salmonella outbreak
Author: 0 Kellogg's recalls Honey Smacks cereal after nationwide salmonella outbreak

The Centers for Disease Control says this salmonella outbreak has sickened 73 people in 31 states. No deaths have been reported. The recalled products have "Best if used by" date of June 14 through January 14, 2019. According to Kellogg's, people who purchased the potentially affected product should discard it and contact the company for a full refund. Most people infected with salmonella develop diarrhea, fever and abdominal cramps within 12 to 72 hours of being exposed to the ...

Business Honolulu Workers Need $39 An Hour To Afford A 2-Bedroom Rental
Author: 0 Honolulu Workers Need $39 An Hour To Afford A 2-Bedroom Rental

Fair Market Rent is Housing and Urban Development's best estimate of what a household seeking a modest rental home in a short amount of time can expect to pay for rent and utilities, according to the report . How can this issue be addressed? Local reports have also pointed to the acute shortage of housing for very low-income renters in Charlotte. The new report examines the cost of living in New Orleans and Louisiana, as well as in other cities and states across the country, plus ...

Business Donald Trump approves tariffs on about $50 billion of Chinese goods
Author: 0 Donald Trump approves tariffs on about $50 billion of Chinese goods

The threat of massive duties on billions of dollars of goods sent Shanghai stocks to their lowest level since September 2016, though it remained uncertain whether Trump would hold fire as part of a negotiating strategy. However, the list was due to be trimmed after a public comment period to reduce the negative impact on United States companies and consumers, so the final total is not confirmed.

Business Meow! Restaurants launch Twitter war with IHOP (now IHOB)
Author: 0 Meow! Restaurants launch Twitter war with IHOP (now IHOB)

And it doesn't stop there. Cheeseburger , who also runs Worldwide Wrestling Dojo in Pennsylvania, responded: "A nice breakfast at IHOP is nearly a national pastime at this point". The name change, though, is meant to help the franchise connect with more people. Wendys' message to IHOP is clear: If you're going to play the burger game on social, you've got to be ready to go up against the reigning champs.

Business AT&T, Time Warner Merger Cleared
Author: 0 AT&T, Time Warner Merger Cleared

The decision hinges on whether the combination of AT&T's pay-TV and mobile-phone businesses with Time Warner's content would raise prices for consumers. But Salil K. Mehra, a professor at Temple's Beasley School of Law and an expert on antitrust, said "this is a fearless new world in which leverage issues and the data collection on individuals make it harder to predict what will happen".

Business Verizon picks Hans Vestberg to serve as new CEO
Author: 0 Verizon picks Hans Vestberg to serve as new CEO

In 2016, unable to turn around slumping profits at Ericsson , Vestberg was ousted from the company. Some analysts have speculated that the company will match AT&T's push into media. "For Verizon, the time for a change in leadership is now, and I am confident that Hans is the right person to bring Verizon through its next chapter", said McAdam in a statement.

Business Trudeau said nothing at G7 he hasn't told Trump in person: office
Author: 0 Trudeau said nothing at G7 he hasn't told Trump in person: office

Trump addressed the subject of global trade during an impromptu news conference at the summit on Saturday, saying that he does not want to see other countries take advantage of the United States over trade. Despite the tension, the member states' leaders were cordial in person, Trump included. But I feel really confident", Trump said of Monday's meeting, which is the first between a North Korean leader and sitting USA president, "It's never been done, It's never been tested.

Business Trump arrives in Quebec for G7 summit, wants Russian Federation invited back
Author: 0 Trump arrives in Quebec for G7 summit, wants Russian Federation invited back

The Trudeau government has told President Donald Trump he needs to get rid of the punishing USA tariffs on Canadian steel and aluminum if there is any hope of successfully renegotiating the North American Free Trade Agreement. On Friday, Trump said that Russian Federation should be part of the G7 summit . The G-7 became the G-8 in 1997, when Russian Federation became a member along with Britain, Germany, Italy, Canada, the United States, France and Japan.

Business Kim Jong Un arrives in Singapore ahead of summit with Donald Trump
Author: 0 Kim Jong Un arrives in Singapore ahead of summit with Donald Trump

Kim's chief of staff was spotted in Beijing last week after wrapping up talks with US officials in Singapore which had included security discussions. A vehicle believed to be carrying North Korean leader Kim Jong Un is seen in Singapore on Sunday afternoon. On June 8, the police force said that the venues involved in the Singapore Summit, and the areas around them, have correspondingly been designated as Enhanced Security Special Event Areas from 10 June to 14 June 2018.

Business Harvard Alchemists Want to Turn Air into Gasoline
Author: 0 Harvard Alchemists Want to Turn Air into Gasoline

The study implies that falling costs of solar power could produce hydrogen affordably from electrolysis without producing an excessive increase in CO2. Carbon Engineering is seeking funding to build a commercial-scale demonstration plant for its process following successful tests at its pilot plant in British Columbia , Canada.

Business Hello Porsche Taycan: Tesla-rivaling Mission E gets its launch name
Author: 0 Hello Porsche Taycan: Tesla-rivaling Mission E gets its launch name

The Taycan "must be a Porsche first", Stefan Weckbach, vice president of Porsche's battery electric vehicle program, told The New York Times recently. Porsche CEO Oliver Blume told us: "We will think of different options and there will be more than one, with different levels of power". It also plans a crossover version of the auto, as previewed by the Cross Turismo concept that made its debut at March's Geneva Motor Show .

Business Buffett, Dimon say quarterly profit forecasts harming economy
Author: 0 Buffett, Dimon say quarterly profit forecasts harming economy

Dimon said he could generate hundreds of millions of revenue for the bank by agreeing to some interest rate swaps. "We think the president has raised some very critical issues about trade, especially with China, around state owned enterprises, fair competition, market access, the ability to own 100% of a company, and these things should be negotiated out and the Business Roundtable supports those issues", Dimon said.

Business US, China reach $1.4 billion sanctions deal over ZTE: Commerce Dept
Author: 0 US, China reach $1.4 billion sanctions deal over ZTE: Commerce Dept

The company was found to have shipped its sophisticated telecommunications equipment to both nations and to have repeatedly lied to USA investigators about its actions. US President Donald Trump came under criticism for announcing last month that he would reverse the ban, with some lawmakers warning that payments do not address security concerns over Chinese telecommunications equipment.

Business Ex-CEO: Cambridge Analytica got 'huge target' with Trump win
Author: 0 Ex-CEO: Cambridge Analytica got 'huge target' with Trump win

What we are getting back from you are bluster and rudeness". He suggested Mr Wylie had provided ammunition for the "global liberal media" after they "decided to put us in their cross-hairs" because of CA's perceived role in the Trump and Brexit victories and launched "an extremely well co-ordinated and effective attack on us as a company and destroyed our reputations and our business".

Business Trudeau Rejects US Proposal on Bilateral Trade
Author: 0 Trudeau Rejects US Proposal on Bilateral Trade

He then pushed the plan to a senior member of Prime Minister Justin Trudeau's office, although he didn't name who it was. "There are disagreements. He's sticking to his guns". USA stocks were trading higher on Wednesday. The topic led off debate Tuesday in the House of Commons, where Conservative Leader Andrew Scheer criticized the Liberals for announcing retaliatory tariffs that don't take effect until July 1 - a full month behind the USA measures.

Business Commerce Secretary: US reaches deal with China's ZTE
Author: 0 Commerce Secretary: US reaches deal with China's ZTE

In an interview on CNBC , Ross said penalties amounted to $1 billion and that ZTE agreed to install new management and a compliance team picked by the U.S. Since then, President Trump and his friends have stepped in to help ZTE stay alive, even though there is bipartisan agreement that the United States shouldn't.

Business White House reportedly considering new economic penalties against Canada
Author: 0 White House reportedly considering new economic penalties against Canada

Canadian broadcaster CBC also confirmed that the conversation took place. Canada, a British colony at the time, did not become a nation until 1867. "It's understandable that change causes friction", the official said, noting some of Trump's recent tariff announcements have brought stubborn trading partners back to the negotiating table.

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