Money

India warned OPEC of high oil prices shrinking demand

India warned OPEC of high oil prices shrinking demand It would be troubling if that jump in prices became a trend, the Minister said , adding that producers with spare capacity, such as Saudi Arabia, can fill any gap left by falling production elsewhere. "But because we went away from allocation on a pro-rata basis, we will be closer to 1-M than to 600,000 barrels a day". In fact, all OPEC said in its statement after the Friday meeting was that it... [Full Article...]

Harley-Davidson to make motorcycles in Europe to avoid trade-war tariffs

Harley-Davidson to make motorcycles in Europe to avoid trade-war tariffs Moving production to overseas factories is expected to require nine to 18 months, so in the near-term Harley-Davidson will absorb the costs of European Union tariffs , the company said in a regulatory notice. Trump praised Harley-Davidson as an "American icon, one of the greats" and expressed confidence the company would expand United States manufacturing under his administration. [Full Article...]

Local, state officials applaud U.S

Local, state officials applaud U.S The Retail Industry Leaders Association, another trade group, said the ruling allows retailers to compete "without government's thumb on the scale" and called it "a win for all those who believe in free markets". And for the state of Georgia and local governments, a U.S. Supreme Court ruling Thursday means hundreds of millions of dollars in extra revenue pouring in annually. [Full Article...]

Supreme Court rules in favor of online sales tax

Supreme Court rules in favor of online sales tax Shares of Amazon and other online retailers fell Thursday morning after the Supreme Court ruled that states could require tax collection on digital sales. "As to who will have to collect, once that case is decided, it seems their economic nexus definition, or what we are now referring to as a de minimus threshold for interstate commerce, which is any retailer with more than 200 transactions or $10... [Full Article...]

OPEC and allies agree to share oil production increase

OPEC and allies agree to share oil production increase The only way that OPEC as a group can possibly bring compliance with the deal agreed in November 2016 to 100 per cent - it was 164 per cent as of May, according to OPEC's own figures - is for countries with spare production capacity to pump more oil. [Full Article...]

Trump trade war a ‘symptom of paranoid delusions’ - Chinese media

Trump trade war a ‘symptom of paranoid delusions’ - Chinese media So even if the U.S. and China are having this battle, trade diversion means what may happen is that many of their market groups will be dumped on other markets to ensure that they don't overconsume or overproduce. Late last month, Trump proceeded to infuriate US allies - from the European Union to Canada and Mexico by imposing tariffs of 25 percent on imported steel and 10 percent on aluminu... [Full Article...]

OPEC braces for tough Vienna talks on hiking oil output

OPEC braces for tough Vienna talks on hiking oil output USA shale producers can step up to meet any supply deficit, but Roberts and Phil Flynn, senior energy analyst at the Price Futures Group, said it takes time for them to increase output because of the nature of shale mining. The U.S. president repeatedly voiced his dissatisfaction with OPEC through social media accusing the cartel of driving up the oil prices, this consequently caused some turbulen... [Full Article...]

Oil eases on China refining dip, higher USA crude output

Oil eases on China refining dip, higher USA crude output Trump may hope his comments will put pressure on USA allies within OPEC to raise their oil production sooner rather than later, staving off any further increase in prices and easing the recent hit to American consumers' pockets at the gas pumps. [Full Article...]

European Central Bank to end quantitative easing by end of 2018

European Central Bank to end quantitative easing by end of 2018 The ECB then upstaged its peer by unveiling plans to wind down its quantitative easing programme but clung on to its dovish leaning, slashing its 2018 growth forecast and warning that a rate rise is unlikely until at least September 2019. [Full Article...]

For the love of pizza, Domino's is now fixing potholes in roads

For the love of pizza, Domino's is now fixing potholes in roads Domino's says this will help them ensure the "integrity of pizza remains in tact". The initiative is aimed at 'saving pizza.' Picture courtesy of Domino's Pizza ."Have you ever hit a pothole and instantly cringed?" Knowing how important this food is to the stomaches of Americans, Domino's Pizza is taking on a challenge: Fixing potholes . [Full Article...]

IHOP Changes Name To IHOb To Emphasize Burgers

IHOP Changes Name To IHOb To Emphasize Burgers Some people correctly predicted it would stand for burgers, but many others on Twitter and Facebook thought the B would stand for breakfast or bacon. To learn more about the company's pivot in menu, we got in touch with IHOP's spokesperson, Stephanie Peterson. The company revealed the new name on its Twitter account Monday after teasing the change last week. [Full Article...]

AT&T and Time Warner win legal battle, confirming the merger

AT&T and Time Warner win legal battle, confirming the merger The deal was hatched in August 2016 when Randall Stephenson, the chief executive of AT&T , called Jeff Bewkes, his counterpart at Time Warner . Comcast , for example, would like to outbid the Walt Disney Co. Vertical integration FTW, said Phillip Fresen, managing director of investment bank Garros Group. While this court case is decided, the U.S. Department of Justice could appeal the rulin... [Full Article...]

North Korea leader Kim arrives in Singapore ahead of Trump meeting

North Korea leader Kim arrives in Singapore ahead of Trump meeting High-ranking officials from both countries have met several times in advance of Tuesday's summit to prepare for the historic talks. In May, Trump announced he would meet Kim in Singapore on June 12 in a tweet that said "We will both try to make it a very special moment for World Peace!" "The worst case scenario would be if President Trump came into the summit and presented an ultimat... [Full Article...]

Federation Internationale de Football Association bans Kwesi Nyantakyi over Anas exposé

Federation Internationale de Football Association bans Kwesi Nyantakyi over Anas exposé Minister for Youth and Sports Isaac Asiamah has disclosed that government has dissolved Ghana Football Association (GFA), following the premiering of Anas exposé to unravel rots in Ghana football. A statement published by the GFA confirmed that the FIFA Council Member, who had earlier in the day been banned by FIFA from all football related activity for a provisional period of 90 days , made ... [Full Article...]

Flight from Pyongyang lands in Singapore ahead of North Korean leader’s arrival

Flight from Pyongyang lands in Singapore ahead of North Korean leader’s arrival Cho added Singapore wouldn't have a hard time providing a secure location for North Korea as the country is often named one of the safest in the world. "It's a standard North Korean media tactic". Kim is seeking security guarantees and relief from economic sanctions. "I truly hope it results in the reduction of aggressive rhetoric between both sides and [marks] the beginnings of a more peace... [Full Article...]

ZTE has reached a deal to have USA sanctions lifted

ZTE has reached a deal to have USA sanctions lifted The deal announced by Commerce Secretary Wilbur Ross allows ZTE to stay in business. On Tuesday, it was reported that ZTE, the fourth-largest smartphone maker in the U.S. Commerce Secretary Wilbur Ross announced an agreement with ZTE early Thursday that would impose additional financial penalties on and install US -approved compliance officials within ZTE. [Full Article...]

DNA testing service MyHeritage says 92 million customer email addresses were exposed

DNA testing service MyHeritage says 92 million customer email addresses were exposed Its database now has DNA samples from over 1.25 million people. MyHeritage does not store user passwords, but rather a one-way hash of each password, in which the hash key differs for each customer. Credit card information isn't stored on MyHeritage , it said, but is instead stored on "trusted third-party billing providers" like BlueSnap and PayPal. [Full Article...]

Canada rejects United States offer to end trilateral deal

President Donald Trump announced last week that steel and aluminium tariffs would apply to Canada, Mexico and the European Union. The retaliatory measures include a 25% import tariff on steel products, 20% on pork products, 20% to 25% duties on cheeses and a 25% duty on bourbon. [Full Article...]

Tesla shares rise as Musk says Model 3 set to hit target

Tesla shares rise as Musk says Model 3 set to hit target At the Tesla shareholder meeting, Elon Musk announced that Tesla vehicle owners might soon get a chance to test out Autopilot again through a free trial. The news is welcome to electric bike makers, including Harley-Davidson CEO Matt Levatich, who has said the company remains on track to bring its first-ever electric bike to market in 2019. [Full Article...]

China: Tariffs by U.S. would wipe out trade progress

China: Tariffs by U.S. would wipe out trade progress US Secretary of the Treasury Steven Mnuchin said the dispute was "on hold" and the tariff hike would be postponed. "By assaulting all our allies, we leave ourselves standing unprotected and by ourselves in a way we really never have been". [Full Article...]


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