Markets

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

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...]

Petrol price cut by one paisa: Oppn, citizens slam Centre, demand rollback

Petrol price cut by one paisa: Oppn, citizens slam Centre, demand rollback According to SBI's Ecowrap report, states can cut petrol price by Rs 2.65 per litre and diesel by Rs 2 a litre if they decide to forego potential additional gains out of high crude oil rates. He also welcomed Kerala government's move of cutting the fuel price by Re 1 earlier in the day. The Oil and Gas Regulatory Authority (OGRA) on Wednesday sent a summary to the power division suggesting inc... [Full Article...]

European Union announces retaliation against Trump tariffs

The EU trade commissioner, Cecilia Malmstrom, said the EU "did everything to avoid this outcome". Ross explained that the previous extension for Canada and Mexico was specifically due to ongoing NAFTA talks, but that "those talks had been taking longer than we had hoped" and there's no longer a precise date of when a deal may be reached. [Full Article...]

Trudeau government to buy troubled Trans Mountain pipeline for $4.5 billion

Trudeau government to buy troubled Trans Mountain pipeline for $4.5 billion Alberta's premier calls the decision by the federal government to purchase the Trans Mountain Pipeline Expansion for $4.5 billion "a major step forward for all Canadians". "This is a sad day for British Columbia". "This move sets a bad precedent and signals to other prospective investors that large projects such as pipelines can not be built by private industry in Canada", said Aaron Wudrick... [Full Article...]

Oil India, ONGC shares tank on windfall oil tax worries

Oil India, ONGC shares tank on windfall oil tax worries The Union Minister put the blame on uncertain political conditions in oil exploring countries and the global market for the oil price rise. The revenues so raised would be paid to fuel retailers, allowing them to absorb spikes beyond the threshold levels, they said. [Full Article...]

Russia's Novak: return to October'16 oil output levels possible

Russia's Novak: return to October'16 oil output levels possible Oil producers are debating an increase ranging from 300,000 barrels a day at the low end, backed by Gulf producers including Saudi Arabia , and a larger increase of about 800,000 barrels a day favored by Russian Federation, one person said. [Full Article...]

Elon Musk's new company 'Pravda' would rate journalists' credibility

Elon Musk's new company 'Pravda' would rate journalists' credibility In his "big media companies" tweet , Musk included a link to an Electrek .Co article titled, "Tesla ( TSLA ) could rally as media negativity is "increasingly immaterial", says Baird". "Tricky situation, as Tesla doesn't advertise, but fossil fuel companies & gas/diesel vehicle companies are among world's biggest advertisers", wrote Musk. [Full Article...]

'America is back,' President Trump tells Naval Academy grads

'America is back,' President Trump tells Naval Academy grads But Trump said America has once again chose to speak the truth of our military's strength: "In case you have not noticed, we have become a lot stronger lately". We are going to stand up for America. He also maintained the tradition of absolving the class of all minor offenses on their records, and praised the academy's sports teams, while saying he would not mention the last Army-Navy football... [Full Article...]


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