Markets

China vows to retaliate to Donald Trump's tariffs on $50bn of goods

China vows to retaliate to Donald Trump's tariffs on $50bn of goods The moves increase the trade dispute between the world's two largest economies. Chinese media have mocked US President Donald Trump over plans to impose 25% tariffs on $50bn worth of Chinese goods , saying "wise men build bridges but fools build walls". [Full Article...]

Deputy dies, 1 in critical condition in courthouse shooting

Deputy dies, 1 in critical condition in courthouse shooting When they pulled into a parking lot outside the county courthouse, the deputies were "overcome", Bailiff said. Police told KCTV they believe the inmate, who was shackled and handcuffed, used one of the deputies' guns to shoot them. All three people were taken to an area hospital. Several law enforcement departments offered words of support and prayers for Wyandotte County on social media . [Full Article...]

Asian shares down on Fed hike, Sino-US trade anxiety

Asian shares down on Fed hike, Sino-US trade anxiety But he said "having twice as many press conferences does not signal anything about the timing or the pace of interest rate changes". The jobless rate is already the lowest since 2000. The Fed expects inflation to overshoot its target faster than it previously thought, prompting it to raise its forecast for rate hikes this year . [Full Article...]

Tesla to cut 9pc of jobs as it seeks profitability

Tesla to cut 9pc of jobs as it seeks profitability Tesla has been burning through cash as it continues to spend on its assembly line and prepares for new investments on projects such as the Model Y crossover and its Gigafactory. In his email, Musk said the layoffs primarily affected salaried positions and will not affect Model 3 production. For almost all of its history, Tesla has put up losses while investing heavily in technology, manufactu... [Full Article...]

Navarro sorry for 'special place in hell'' for Trudeau remark

Navarro sorry for 'special place in hell'' for Trudeau remark Ambassador to Canada , on Monday slammed Donald Trump's treatment of Justin Trudeau , and Canada in general, demanding the president apologize for his surrogate's claim there's a "special place in hell" for people like the Canadian prime minister. [Full Article...]

A US Federal Judge Has Approved The AT&T-Time Warner Merger

A US Federal Judge Has Approved The AT&T-Time Warner Merger In addition, T-Mobile and Sprint are direct competitors, so their merger is perhaps more likely to be seen as anti-competitive than a union of AT&T and Time Warner. Rival cable company Comcast is now likely to go ahead with its planned attempt to woo Fox away from Walt Disney Co, which said it would acquire most assets of the media company for around $50 billion a year ago. [Full Article...]

North Korea leader Kim arrives in Singapore ahead of Trump meeting

Regardless, Trump seemed determined to keep his meeting with Kim low-key, dangling the possibility of a future summit in the USA if things go well this week. The talks have been portrayed by Trump in recent days more as a get-to-know-you session. It's a dramatic departure for Trump, who kicked off 2018 bragging that his nuclear button is "much bigger" than Kim's. [Full Article...]

Verizon CEO McAdam announces retirement, successor appointed

Verizon CEO McAdam announces retirement, successor appointed Current CEO Lowell McAdam will serve as executive chairman through year-end, and non-executive chairman thereafter. Until he retires at year end, McAdam will serve as executive chairman, then become non-executive chairman, the company said in a statement. [Full Article...]

Saudi Arabia 'revisiting' policy on oil output cuts, India says

Saudi Arabia 'revisiting' policy on oil output cuts, India says West Texas Intermediate for July delivery climbed as much as 24 cents to $66.19/bbl on the New York Mercantile Exchange and traded at $66.06 at 11:06 a.m.in Tokyo. USA drillers added one oil rig in the week to June 8, bringing the total count to 862, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. [Full Article...]

Ghanaian government to shut down Football Association

Ghanaian government to shut down Football Association The Ghanaian government has made a decision to dissolve the country's football association after claims, in an undercover documentary, of bribe-taking by referees and kickbacks to top officials. GFA president, Kwesi Nyantakyi was recorded by undercover reporters in a video describing how to make money from a proposed sponsorship deal from a supposed investor, who was actually an undercover repor... [Full Article...]

Goodbye Mission E, Hello Porsche Taycan

Goodbye Mission E, Hello Porsche Taycan The name, which is derived from Turkish, according to Porsche , and translates as "lively young horse", is a reference to the prancing steed at the center of Porsche's shield-shaped logo. The Porsche Taycan will debut the company's 800-volt charging system called Porsche Turbo Charging that offers ultra-fast charging. Porsche has said it plans to double its investment in hybrid and full... [Full Article...]

Trump, Macron Exchange Twitter Jabs Ahead of G7 Summit

Trump, Macron Exchange Twitter Jabs Ahead of G7 Summit According to CNN , the two leaders were discussing on May 25 new USA tariffs imposed on steel and aluminum imports from Canada . Allies are fuming towards President Trump ahead of G7 summit in Quebec City, Canada. "I will of course try to speak to the USA president about the current problems that we have overall, in particular on Iran and on trade tariffs", Merkel told the Bundestag lower h... [Full Article...]

Elon Musk addresses Model 3 at Tesla shareholders meeting

Elon Musk addresses Model 3 at Tesla shareholders meeting Foremost among them that at the Tesla annual shareholders meeting , Musk indicated that the company is well on its way to the magical number of producing 5,000 Model 3's per week, now running at about 3,500. A next-generation Supercharger will go into production by the end of 2018. Directors Antonio Gracias, James Murdoch and Elon's brother, Kimbal Musk, won by "a wide margin", according to... [Full Article...]

China offers to buy US$70b in US goods

China offers to buy US$70b in US goods The US tariffs have been condemned by nations across the world, with Canada last week announcing it will impose tariffs on as much as C$16.6 billion (NZ$18.2 billion) of US steel, aluminium and other products from July 1. The U.S. had a $17.5 billion goods deficit with Canada in 2017 and - when services are included in the measurement - an overall surplus of $8.4 billion with Canada in 2017, a... [Full Article...]

Qatar Airways CEO booed after saying a woman couldn't run his airline

Qatar Airways CEO booed after saying a woman couldn't run his airline Qatar Airways posted the apology to its Twitter account on Wednesday. The airline was also the first to employ female pilots and one of the first to train female engineers, al Baker said, adding that several ranking positions within the company, including Senior Vice President, are held by women. [Full Article...]

Chrystia Freeland On Canada Being A Threat To The US: 'Seriously?'

Chrystia Freeland On Canada Being A Threat To The US: 'Seriously?' President by Donald Trump , announcing it will retaliate with the same tariffs starting at the end of June. According to Ross, the step followed months of unsuccessful talks between the United States and its two neighbors over changes to the North American Free Trade Agreement (NAFTA). [Full Article...]

Fears Pentagon project is first step towards AI for lethal purposes

Yet another report from Gizmodo on the subject says that Google won't be renewing the project once its current contract runs out. The New York Times reported this week that Fei-Fei Li, the chief scientist for AI at Google Cloud, is a vocal internal critic of Google's work on the US Department of Defense's Project Maven . [Full Article...]

China criticizes 'protectionism' after U.S. steel tariff hike

China criticizes 'protectionism' after U.S. steel tariff hike Gao said he hoped the usa team would be able to "meet China halfway". A foreign ministry spokeswoman complained the USA decision to renew a threat to raise duties on a $50 billion list of Chinese goods conflicts with an agreement in mid-May aimed at settling that dispute. [Full Article...]

Eurozone inflation jumps higher on oil price spike

Eurozone inflation jumps higher on oil price spike When the two groups attempted to form a left-right coalition government , Italian President Sergio Mattarella nixed their choice for economy minister - a distinguished, 81-year-old economist named Paolo Savona - because he (Savona) has been critical of the euro currency and has urged Italian policymakers to develop a euro exit plan just in case some future crisis demanded it. [Full Article...]

Treasurer responds to Amazon's block on Australian consumers

The GST amendment lowers the current minimum spend for GST inclusion from $1000 to $1 in response to backlash from local retailers. The company said today that shoppers in Australia will be redirected to its local site, Amazon.com.au, and that its global sites, including Amazon.com, will no longer ship to Australian addresses. [Full Article...]


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