Business

Trump Tries to Calm Global Markets After Stocks Drop Sharply

Trump Tries to Calm Global Markets After Stocks Drop Sharply The White House said Xi said he was open to approving the previously unapproved Qualcomm-NXP deal should it again be presented to him. However, it still remains unclear when the purchases will take place and whether China will remove the retaliatory tariffs on these products or not; Beijing may instead choose to reimburse buyers for the tariffs paid as they have previously done so. [Full Article...]

Saudi Arabia doesn’t need USA permission to cut oil output - energy minister

Saudi Arabia doesn’t need USA permission to cut oil output - energy minister Trump wrote in a tweet on Wednesday. "The World does not want to see, or need, higher oil prices! " said Trump , who has in the past repeatedly accused the cartel of keeping prices artificially high. "The World does not want to see, or need, higher oil prices!" Since overtaking Saudi Arabia , many in Washington feel the United States no longer needs to shackle itself to Riyadh. [Full Article...]

Stocks plunge amid confusion over U.S.-China trade truce

Stocks plunge amid confusion over U.S.-China trade truce Trump tweeted early Wednesday that Beijing is sending " very strong signals " about a new trade framework since returning from talks over the weekend in Buenos Aires. Washington , but not Beijing, has also said China will cut import tariffs on American cars. Su told Xinhuanet that cooperation is the best option for both China and US, and both sides should jointly advance bilateral relations w... [Full Article...]

China Temporary Trade Truce

China Temporary Trade Truce The president also touted his personal relationship with Chinese President Xi, suggesting that it would be very productive in the future. Interested in Donald Trump? Wang added that China is willing to expand imports from the United States according to "the needs of the domestic market and the Chinese people" and that both parties are working to remove all tariffs, according to China Dail... [Full Article...]

Trump threatens to withdraw from Nafta to pressure democrats

Trump threatens to withdraw from Nafta to pressure democrats Canada's pressure to include "soft things" like labour standards in the new North American free-trade treaty will help secure critical support for the deal from Democrats in the United States Congress, the Canadian ambassador to the USA says. [Full Article...]

Trump says US-China ties make ‘BIG leap forward’

Trump says US-China ties make ‘BIG leap forward’ Trump and Xi, who were in the Argentinian capital over the last two days for a summit of G20 countries , had gone into the meeting in a bid to pull the world's top two economies from the brink of a full-fledged trade war . However, no cargoes are slated for arrival in December or beyond. Those 10 percent tariffs were scheduled to ratchet up to 25 percent on January 1 if the United States and Chi... [Full Article...]

Petrol Prices: How Qatar's decision to leave OPEC may affect South Africa

Petrol Prices: How Qatar's decision to leave OPEC may affect South Africa It's the world's largest exporter of liquefied natural gas . OPEC and its allies, including Russian Federation, are expected to agree on a supply cut at this week's meeting in a bid to support crude prices that have slid nearly 30 per cent since October. [Full Article...]

Deutsche Bank’s Frankfurt HQ searched in Panama Papers probe

Deutsche Bank’s Frankfurt HQ searched in Panama Papers probe The inquiries focus on events in 2013 through 2018, a spokeswoman for the prosecutor's office said. The Panama Papers are a set of millions of documents leaked in 2015 by Panamanian law firm Mossack Fonseca and Co linking offshore accounts to alleged fraud and tax evasion. [Full Article...]

Fed officials express caution about pace of future hikes

Fed officials express caution about pace of future hikes On October 3, he said rates were "a long way" from neutral levels. Stock markets began a broad descent toward a correction - a decline from the most recent peak of at least 10 per cent - in early October, just after Mr Powell had sounded a quite confident tone on the economy. [Full Article...]

Trump Slams GM: Plants Close as Economy Grows

Trump Slams GM: Plants Close as Economy Grows Beyond the subsidies given to customers, GM has received about $333.5 million in federal spending in the past 12 months, according to a US government website that tracks federal expenditures. Federal tax credits of up to $7,500 are available to those who buy GM electric vehicles . GM, Tesla Inc. and Nissan Motor Co. formed a coalition earlier this month to lobby to have the purchase subsidy e... [Full Article...]

Putin: Success in Oil Production Cuts Due to Saudi Arabia

Putin: Success in Oil Production Cuts Due to Saudi Arabia But since reaching four-year highs in October, oil prices have plunged around 30 percent as worries about falling demand in a slowing world economy have taken their toll. This increase in the country's oil inventory was fed by increasing oil imports. The biggest snag in OPEC's push for a consensus on cutting oil output could come from relentless growth in supply from its second-biggest produ... [Full Article...]

Oshawa reeling as workers face grim future — GM CLOSURE

Oshawa reeling as workers face grim future — GM CLOSURE Ford said along with shock and sadness, come feelings of anger and betrayal. "Based on commitments made during 2016 contract negotiations, Unifor does not accept this announcement and is immediately calling on GM to live up to the spirit of that agreement", the union's statement said. [Full Article...]

Trump’s Chinese Tariffs Target Consumer Electronics, Including Sony and PlayStation

Trump’s Chinese Tariffs Target Consumer Electronics, Including Sony and PlayStation The U.S.is due to raise import duties on about US$200 billion worth of goods from China to 25 per cent from 10 per cent on January 1. "The scheduled meetings on the sidelines of the G20 summit are a reflection of India's willingness to contribute in a positive and a constructive way towards strengthening multilateral institutions like WTO and trying to build a consensus on new ideas like the I... [Full Article...]

Trump says he may cancel Putin meeting, White House warns Xi

Trump says he may cancel Putin meeting, White House warns Xi Trump is also set meet with Chinese President Xi Jinping over dinner this weekend, in what may be a pivotal session to determining if and how the ongoing trade dispute between their two countries could be resolved. Chinese officials responded with retaliatory tariffs on American goods. "I am conservatively optimistic that can be done", he added. Federal Reserve Vice Chairman Richard Clarida ... [Full Article...]

GM to slash 14K jobs in North America, could close 5 plants

GM to slash 14K jobs in North America, could close 5 plants General Motors is to lay off 14,000 workers in North America and put five factories up for potential closure as it stops making some of its unpopular cars. "It's obviously an extremely tough day for us but it is nevertheless important and exciting to be in a company that wants to lead in electric and autonomous and, like many industries that are transforming, if you don't take bold steps you risk... [Full Article...]

Climate report warns of grim economic consequences, worsening weather disasters in US

Climate report warns of grim economic consequences, worsening weather disasters in US The 13-agency consensus found in the second volume of the Fourth National Climate Assessment makes it clear the world is barreling toward catastrophic ― perhaps irreversible ― climate change. Farmers, traders and manufacturers could especially suffer from the varying effects of climate change, the most recent report reveals. Although the report suggests that no one is immune to the effects of cl... [Full Article...]

Skype calling arriving soon for Amazon Echo devices

Skype calling arriving soon for Amazon Echo devices Google devices have been able to call phone numbers for months now. To start using the services, the user needs to link Skype with their Alexa account and then follow the instructions mentioned below. It is worth noting that Skype calling with Alexa is available in India along with other countries including US, UK, Ireland, Canada, Australia and New Zealand. [Full Article...]

Frigid, Blustery Weather on Tap for Thanksgiving 2018

Frigid, Blustery Weather on Tap for Thanksgiving 2018 Some areas may experience temperatures 25 degrees below. If relatives and friends from out of town suddenly show up at your door, it's probably because this could be the coldest Thanksgiving period on record for the Northeast. It will be sunny and dry on turkey day. Snow is likely to start accumulating in Pennsylvania and slowly make its way across the New England area this week, dropping up... [Full Article...]

Spain to Challenge Brexit Deal Due to Gibraltar Issue

Spain to Challenge Brexit Deal Due to Gibraltar Issue Her remarks appeared mainly aimed at Spain, which has raised concerns about the treatment of Gibraltar in the proposed text, and France , which is leading calls for improved access to British fishing waters. Diplomats have suggested that they could add a suitable annex to the draft deal, but they want to avoid re-opening the deal to additional demands from other countries, El País adds. [Full Article...]

Crude oil prices test recent lows at start of holiday-shortened week

Crude oil prices test recent lows at start of holiday-shortened week Fiona Cincotta, senior market analyst at City Index, said yesterday: 'Fears of slowing global growth are fuelling concerns over global demand, just at a time when Saudi Arabia , Russia and the U.S. Potential sanctions from the European Union would come as the United States has granted waivers to some of Iran's oil customers, muting the policy's expected impact on global supplies. [Full Article...]


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