Markets

US Throttles Iran Oil Flows to Buyers Who Vowed Resistance

US Throttles Iran Oil Flows to Buyers Who Vowed Resistance So far, the news is having a limited impact on Brent prices. Crude is up 9% since mid-August as WTI flirts with $70 per barrel. Mohammed bin Hamad Al Rumhy , oil minister for Oman , remarked, "There is a danger that the demand will be impacted as well: people often focus on the supply side - what happens if Iran stops supplying - but what happens if China reduces its consumption?" Japa... [Full Article...]

Tech billionaire returns to China after US arrest

Tech billionaire returns to China after US arrest He was briefly arrested and held in Minneapolis Friday and released Saturday afternoon. He declined to provide further details. Minneapolis police spokesman John Elder said Sunday that he couldn't provide any details because it remains an active investigation. [Full Article...]

Trump attacks union leader on Labor Day

Trump attacks union leader on Labor Day Trumka also said that the reimagined North American Free Trade Agreement Trump has been touting would have to include Canada in order to earn his organization's endorsement. "Anything other than a trilateral agreement won't win congressional approval and would lose business support", President and CEO of the U.S. Chamber of Commerce, Thomas Donohue, said Friday in a statement . [Full Article...]

Xi announces $60bn financing for Africa

Xi announces $60bn financing for Africa The summit themed "China and Africa: Towards an Even Stronger Community with a Shared Future through Win-Win Cooperation", is meant to link the Belt and Road Initiative with the United Nations 2030 Agenda for Sustainable Development, the AU's Agenda 2063 and individual countries' development plans. [Full Article...]

Donald Trump Nixes Scheduled Pay Raises for Civilian Federal Employees

Donald Trump Nixes Scheduled Pay Raises for Civilian Federal Employees And so far, the administration has not threatened to veto the spending bill if it includes a pay raise. In his letter, Trump wrote the locality increase in 2019 would average 25.70% and cost the federal government $25 billion. Trump also stated the pay increase would amount to over $25 billion, which he called "inappropriate". "Our public servants have been getting shortchanged for years; includ... [Full Article...]

Trump Announces New U.S.-Mexico Trade Agreement

Trump Announces New U.S.-Mexico Trade Agreement The US-Mexico agreement has tougher new protections for collective bargaining, and requires 40 percent of autos receiving duty-free treatment to come from factories where workers make at least US$16 an hour. "It is hard to extrapolate much out of it, as the U.S. continues to treat each country and deal on its own merit". Two-way trade between the United States and Canada, at $673 billion a yea... [Full Article...]

Mobile shuts down security breach that may have exposed customers' personal data

Mobile shuts down security breach that may have exposed customers' personal data The carrier revealed to Motherboard that 3% of its customers were affected, or about 2 million to 2.5 million people. T-Mobile's cybersecurity was able to shut it down before the breach escalated and has reported it to the proper authorities. [Full Article...]

New York AG plans criminal investigation into Michael Cohen's taxes

New York AG plans criminal investigation into Michael Cohen's taxes Cohen pleaded guilty on Tuesday to handling hush money for Mr Trump in violation of campaign finance laws. "According to the state attorney general of New York ", Unger noted, "that was money laundering". But then, in a "Fox & Friends" interview, Trump began to dramatically play down his relationship with Cohen. "Sacha Baron Cohen is releasing his own Trump tape - a clip from Da Al... [Full Article...]

Trump ignites debate on earnings reports

Trump ignites debate on earnings reports According to him, PepsiCo Inc Chief Executive Indra Nooyi, who is leaving the company, is one of the business leaders who broached the topic with him recently. Trump believes he has the support of some executives for a change. The Council of Institutional Investors (CII) believes that public companies should continue to report quarterly. [Full Article...]

United States plans more sanctions against Turkey if pastor not released

United States plans more sanctions against Turkey if pastor not released Brunson, a 50-year-old evangelical pastor from Black Mountain, North Carolina, is being held on charges related to terrorism. The currency plunged to a record low of 7.24 per dollar at the start of the week as a worsening of relations between Turkey and the United States added to losses driven by concerns over President Tayyip Erdogan's influence over monetary policy. [Full Article...]

United States threatens more Turkey sanctions if pastor not freed

United States threatens more Turkey sanctions if pastor not freed The recent turmoil has raised fears of a looming economic crisis in Turkey and prompted alarm that foreign investors in the country, including Qatar , could be hit in the fallout. cars, alcohol and tobacco by the same amount on Wednesday. Turkish airlines and telecom firms also halted all advertising in USA media. Turkey's Vice President Fuat Oktay said on Twitter that the tariffs on certain pr... [Full Article...]

Turkey hikes tariffs on imports of several USA products

Turkey hikes tariffs on imports of several USA products Trump has repeatedly tweeted his support for Brunson, describing him as a "fine gentleman", a "Christian leader in the United States" and a "respected USA pastor" whose continued holding by Turkey was a "total disgrace". The lira´s fall had raised fears Turkey was on the verge of a fully-fledged economic crisis, especially in its banking system, that could spill over into Europe and other markets. [Full Article...]

Turkey’s lira crisis threatens to undermine global economy

Turkey’s lira crisis threatens to undermine global economy Another analyst cited by CNBC , Dennis Gartman, found it "dismaying" that the United States has "chosen to kick Turkey while the latter is down and suffering a severe bout of economic pain". The tariff increases come amid Trump's concerns over an American pastor, Andrew Brunson, imprisoned in Turkey since 2016. It was not clear when the court would consider the appeal. [Full Article...]

Tech stocks take Nasdaq, S&P close to record

Tech stocks take Nasdaq, S&P close to record The Dow is up 790.01 points, or 3.2 percent . The latest data pointed to strength in the labor market, underscoring the health of the US economy despite ongoing trade tensions. Meanwhile, concerns over escalating trade conflict between the US and China weighed on the trade-sensitive S&P 500 Industrials Index, which ended up losing 0.57% on the day. [Full Article...]

How India, China and European Union weigh in on US' sanctions on Iran

How India, China and European Union weigh in on US' sanctions on Iran Even stronger sanctions targeting Iran's oil sector and central bank are to be re-imposed in early November. " We still consider it a mistake to give up the nuclear agreement with Iran ", Foreign Minister Heiko Maas warned . Iran's regional rivals Israel and Saudi Arabia have welcomed the tough new USA policy. Critics accused him of mismanagement and blamed him for the country's recent economic... [Full Article...]

SEC Launches Inquiry After Elon Musk Tweets About Taking Tesla Private

SEC Launches Inquiry After Elon Musk Tweets About Taking Tesla Private Skepticism about the legitimacy of Musk's proposed deal surfaced nearly immediately after Musk dropped the bombshell on his Twitter account a few hours after the stock market opened Tuesday. It's unclear if Musk has misled investors, let alone whether he has done so intentionally. Musk's use of Twitter to announce a huge deal also raised eyebrows, but that probably didn't violate any laws, Coffe... [Full Article...]

U.S. not anxious about European Union move on sanctions

U.S. not anxious about European Union move on sanctions He declared that its so-called "sunset clauses" - under which the limits on Iran's nuclear programme will start to expire - were unacceptable; that it did not deal with Iran's ballistic missile programme; and that it failed to stop Iran's "malign behaviour" in neighbouring countries, including Syria and Yemen. [Full Article...]

Harley-Davidson's new strategy: Smaller bikes, more foreign sales

Harley-Davidson's new strategy: Smaller bikes, more foreign sales Earlier this year, it was believed that Harley-Davidson's first electric motorcycle, the LiveWire , would hit dealerships before the year's end . For this market, Harley intends to develop a much smaller bike, in the range of 250 to 500 cubic centimeters. [Full Article...]

Canada launches NAFTA challenge of 'illegal' US tariffs on solar panels

Canada launches NAFTA challenge of 'illegal' US tariffs on solar panels Commerce Department is also investigating whether duties should be applied on all autos entering the U.S. based on the premise they pose a national security risk to the U.S. If the wage floor was enacted immediately, the Canadian official said, four major Mexican auto plants would immediately go out of business. Lopez Obrador, Trump said at the "Made in America Product Showcase," is "a terrifi... [Full Article...]

NZ farmers dismayed at United States farm bailout as trade war deepens

NZ farmers dismayed at United States farm bailout as trade war deepens John Thune, whose state produces significant pork, soybeans and grains, slammed the decision to offer farmers aid without fixing the root problem. After threatening to impose tariffs on European auto imports and repeatedly bashing Europe's trade relationship with the U.S., President Donald Trump struck a different tone on Wednesday when he announced a plan to work with Europe to reduce tarif... [Full Article...]


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