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In a televised speech Sunday, Iranian President Hassan Rouhani , stating that the USA can't block Iranian oil from the worldwide market, said to Trump, "Do not play with the lion's tail or else you will regret it". "Isn't it that now you are begging the Taliban to negotiate?" The ABC has cited unnamed senior security figures within the federal government as saying they believed the USA was eyeing Iran's nuclear facilities.
  • Fiat Chrysler's Sergio Marchionne dies aged 66

    Fiat Chrysler's Sergio Marchionne dies aged 66

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    This year also saw the Alfa Romeo brand return to F1 as part of Marchionne's vision to get the Italian manufacturer even greater global exposure and drive profits for FCA. "With Sergio Marchionne Italy loses not only the most brilliant of its managers, but one of the symbolic figures of our country". Discussing how he changed the culture at Chrysler, Marchionne said in 2013 that he believed if a business has become dysfunctional, "the real problem sits at the top" - so, he added, "we ...
  • Trump celebrates 'American pride' by inspecting US-made goods

    Trump celebrates 'American pride' by inspecting US-made goods

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    The total bailout is reportedly about $ 12 billion , and the official announcement - which the network said would likely target dairy, pork and soy products - could come as soon as Tuesday afternoon, hours after the president's tweet. In addition, the government will work to open new markets. If Trump imposes a 25 percent tariff on imports of cars , trucks and auto parts, it "risks dragging us all down to a game of tit for tat retaliations that ultimately leave consumers in the U.S.as ...
  • Johnson blasts Trump on trade, calls it 'Soviet' economy

    Johnson blasts Trump on trade, calls it 'Soviet' economy

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    It allows the CCC to borrow up to $30 billion from the Treasury Department to "stabilize, support, and protect farm income and prices". And Senator Ron Johnson warned that "no one wins a trade war". We must hold bad actors, such as China , responsible while not alienating our allies. "IL corn farmers need the administration to complete the modernization of NAFTA, resolve other ongoing trade disputes, and provide improved domestic and worldwide marketplace access for ethanol through the ...
  • GST council meet: Sanitary napkins exempted from GST

    GST council meet: Sanitary napkins exempted from GST

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    The 28th GST Council meet has chose to fully exempt sanitary napkins from GST, from the existing 12 percent. The Focus of GST Council Meet was completely on Simplification and rationalisation. Handloom products such as knitted caps priced below Rs1,000 will now attract a lower GST rate of 5 per cent. There has been no agreement on the issue as part of Brexit negotiations and the higher tax now remains in force in the UK.
  • Trump Ready to Hit All Chinese Imports with Tariffs

    Trump Ready to Hit All Chinese Imports with Tariffs

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    The U.S. imported $505 billion worth of goods from China in 2017, according to the U.S. Census Bureau. With those nations nearly certain to retaliate, the result could be higher prices for Americans, diminished export sales and a weaker US economy by next year.
  • Dollar recovers ¥113 for first time in six months

    Dollar recovers ¥113 for first time in six months

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    But in written testimony to the Senate Banking Committee and in his response to questions about a possible "trade war", Powell largely discounted the risks. For now, central bankers believe the American economy is robust enough to stay on course. Powell said it was hard to predict the ultimate outcome of US trade policy, as well as the size and timing of the effects of the Republican tax cuts passed a year ago.
  • Trump threatens tariffs on all US$505 billion of Chinese imports

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    Canada charges 275% on Dairy. Trump's comments come as the world's two biggest economies are in a deepening impasse over allegations of unfair trade. President Donald Trump broke a multi-decade tradition by weighing in on the Federal Reserve's monetary policy. Interest rates are seen as the domain of the central bank, while the currency is regarded as the responsibility of United States treasury officials.
  • Trump criticizes Federal Reserve, breaking long-standing practice

    Trump criticizes Federal Reserve, breaking long-standing practice

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    The president's remarks on China and the European Union run counter to a semi-annual report from the Treasury Department in April that abstained from identifying any nation as a currency manipulator. The yuan dipped to a 12-month low of 6.8 to the dollar, off by 7.6 percent since mid-February. Angela Merkel, the German chancellor who used her annual summer press conference to warn of a proposed 25% United States tariffs on European cars and components on national security grounds, said ...
  • Tory MP delivers letter of no confidence in Theresa May over Brexit

    Tory MP delivers letter of no confidence in Theresa May over Brexit

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    He urged the Prime Minister to change course in his resignation statement in Parliament. It is the latest blow for Mrs May who was yesterday roundly criticised in the House of Commons by departing foreign secretary Boris Johnson. Johnson said he was fully supportive of Prime Minister Theresa May in January 2017 when she laid out in an ambitious speech a desire to strike the right deal for Britain with the European Union after a majority of the public supported the break in a referendum ...
  • China: US trade policies are ‘confidence killer’ for global economy

    China: US trade policies are ‘confidence killer’ for global economy

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    Trump, who has also targeted Europe with tariffs, has created a window of opportunity to show that EU-China relations can be a bulwark for global trade. It also investigates the implementation of such trade and is a forum for any dispute resolution. "China relationship now faces", according to state broadcaster CCTV.
  • Oil prices fall on record US output, stock build

    Oil prices fall on record US output, stock build

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    However, gains were likely limited by the larger-than-expected build in crude inventories and more importantly, the jump in USA production to a record 11 million bpd. Saudi Arabia also cut last week its official selling prices (OSPs) by US$0.20 for most of its grades to the Asian markets for August. But there are limitations to how much India can buy from the U.S.at the moment.
  • Britain's Raab wants to 'heat up' Brexit talks

    Britain's Raab wants to 'heat up' Brexit talks

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    Elsewhere, UK Prime Minister Theresa May was visiting Northern Ireland and the Irish border on Thursday, ahead of a speech tomorrow in Belfast where she will emphasise the government's commitment to avoiding a hard border on the island of Ireland and protecting the Good Friday agreement.
  • ‘Brexit continues to mean Brexit’: May presses on with her plan

    ‘Brexit continues to mean Brexit’: May presses on with her plan

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    Referring to further betrayals and weak negotiating, Johnson cited a " fog of self-doubt ", "stealthy retreat", and dithering within Westminster. A string of ministerial resignations followed, including that of former Foreign Secretary Boris Johnson and Brexit Secretary David Davis, the former still being touted by a replacement for May should a contest arise.
  • Theresa May survives knife-edge Brexit customs vote

    Theresa May survives knife-edge Brexit customs vote

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    On Monday, May gave in to Tory hardliners by accepting four amendments to the bill, underpinned by her Brexit white paper , meant to toughen up her negotiating stance. He unfavourably contrasted her Chequers blueprint - which envisages Britain signing up to European Union rules and regulations for goods (a "common rulebook") - with the PM's Lancaster House speech of January 2017.
  • Tesla shares fall after Musk's spat with British diver

    Tesla shares fall after Musk's spat with British diver

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    Musk was both praised and ridiculed for his offer of help, but he reacted strongly to comments made by British diver Vernon Unsworth , who was part of the rescue team. In the midst of the operation, Musk tweeted on Tuesday, apparently from Thailand: "Just returned from Cave 3". "The submarine I believe was about 5 feet, 6 inches long, rigid, so it wouldn't have gone round corners or round any obstacles", Unsworth said.
  • Prime time: A day of deals at Amazon, and at its rivals

    Prime time: A day of deals at Amazon, and at its rivals

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    Penney to offer massive Black Friday-style sales in July. KitchenAid mixers at other retailers (please note , pricing will often vary by colour)... As usual , Amazon is giving a lot of preference to its own products, with up to 25% off AmazonBasics. The sale will bring exciting deals on the products from the brands such as OnePlus, Sennheiser, WD, Godrej, Cloudwalker, Seagate, Samsung, and others.
  • These Amazon Devices Are $20 (or Less) for Prime Day

    These Amazon Devices Are $20 (or Less) for Prime Day

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    Additionally, you can expect big savings on video games, consoles, gaming accessories, 4K TVs, other electronics, apparel, outdoor gear, baby products, and almost anything else you can buy at the online retailer. Remember, to actually unlock these savings you'll need an Amazon Prime account. The most optimistic are those earning more than $100,000, a segment that dovetails nicely with Amazon Prime members.
  • Amazon Prime Day 2018: The best deals to shop right now

    Amazon Prime Day 2018: The best deals to shop right now

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    Be sure to comparison shop at Target and Best Buy to see if they are price-matching, or maybe even offering gift cards to sweeten their deals and stay competitive. There are a number of deal-hunting websites online, all of which will be on full alert for Prime Day bargains. Prime Day, created by Amazon in 2015 for its 20th anniversary, has inspired other companies like Wayfair to invent their own shopping holidays.
  • Can Amazon sell cereal and cod on its Prime Day?

    Can Amazon sell cereal and cod on its Prime Day?

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    There's no way to know if those trends will continue this year, but rest assured that if you miss a deal during Prime Day, chances are good it'll come around again - and maybe at an even lower price. Since then, Amazon has been working to make Prime Day something consumers will look forward to on a yearly basis. Prime Day has quickly become one of the most important - if not the most important - days of the year for Amazon.
  • Oil up but set for 2nd weekly fall

    Oil up but set for 2nd weekly fall

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    The country's National Oil Corp . lifted force majeure at the field, which will boost output to 50,000 barrels a day within two days and to 72,000 barrels three days later, the company said in a statement. Production and export operations will return to normal levels within the next few hours. Natural gas markets also fell during the day, losing nearly 1% by the time I got to the desk today.
  • US Urges 'Reckoning' Over China's Trade Abuses at WTO Meeting

    US Urges 'Reckoning' Over China's Trade Abuses at WTO Meeting

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    While China continues to benefit from strong global demand for its goods for now, the rising trade tensions with the USA has the potential to hurt both sides. To be sure, the United States can exert pain over Chinese companies, too. Interestingly, last month while Trump stepped up trade penalties on China, he also moved swiftly to impose tariffs on Canada, Mexico and the European Union - its closest political and trade allies for decades.
  • Donald Trump again says he’s a ‘very stable genius’ at North Atlantic Treaty Organisation summit

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    Trump repeated demands on the second day of the summit for countries to meet a spending target of two percent of GDP now, instead of by 2024, and to eventually double spending to four percent. And the president's declaration was also directly contradicted by one of his closest personal allies, French President Emanuel Macron. At NATO's 2014 summit in Wales, in the face of new Russian aggression and the annexation of Crimea, the allies had pledged to increase investments in defence and move ...
  • Only 4 Days in, China-US Trade War Escalates

    Only 4 Days in, China-US Trade War Escalates

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    Trade Representative Robert Lighthizer said . Germany's DAX sank 1.2 percent to 12,457.32. The S&P 500 has fallen 0.6% to 2776.72, while the Nasdaq has declined 0.6% to 7715.86. Investors were wary of China response to the latest USA tariff threat, as the country's assistant commerce minister said the proposed US duties harm the World Trade Organization system and globalisation.
  • US, China trigger major trade war

    US, China trigger major trade war

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    In theory, some European companies could benefit, jumping into market niches if Chinese businesses are kept out of the US market. American companies that do a lot of business there have seen steep drops in their stock prices in the past few weeks.
  • All ministers have to sell her Brexit plan

    All ministers have to sell her Brexit plan

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    Labour also urged the European Union to be more flexible but said Theresa May's customs plan was a "fudge" and would "unravel". This would allow Britain to set its own import tariffs and seal new free trade deals. Just whether that body belongs to May or her Brexiteers' is the unsolved mystery. Mr Brigden said he would "listen to what the prime minister has got to say on Monday evening at the 1922 committee" before deciding how to act.
  • Booming US jobs market lifts chance of rate rise

    Booming US jobs market lifts chance of rate rise

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    The EPOP for prime-age workers (ages 25 to 54) edged up to 79.3 percent, tying the high for the recovery reached in February. That tepid increase to an average of $26.98 per hour, however, is due to the disproportionately high number of positions filled by job seekers with high-school diplomas, who generally receive lower wages.
  • Oil falls as Trump urges OPEC to reduce prices

    Oil falls as Trump urges OPEC to reduce prices

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    Earlier this year, the Saudi Arabian Oil Co., known commonly as Saudi Aramco, agreed to a joint research effort with the Center for Strategic and International Studies, a USA think tank. "If Trump continues to believe that OPEC are not doing enough, we would not rule out an SPR (Strategic Petroleum Reserve) release from the USA, or possibly even export restrictions on petroleum products", ING said in a note.
  • China accuses Trump of launching ‘the biggest trade war in economic history’

    China accuses Trump of launching ‘the biggest trade war in economic history’

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    Beijing insists it's the injured party. The official newspaper China Daily accused the Trump administration of "behaving like a gang of hoodlums " who could do damage to the global economy unless other countries stop them. This ship, carrying tons of USA soybeans, had been racing against the clock across the sea, trying to arrive in Dalian port before the tariff war started.
  • China blames USA for 'largest-scale trade war'

    China blames USA for 'largest-scale trade war'

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    China's imports from the USA were just US$130 billion previous year and so Beijing does not have the capacity to hit back in kind, raising speculation it could respond by creating administrative headaches for companies in China. The company said it had already moved some production to the USA and Mexico and would likely move more. However, after the elections in November it was possible that the economic costs of Trump's approach would be clearer and prompt a rethink, Leering said.
  • What to know about US-China tariffs

    What to know about US-China tariffs

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    He did, however, double down on Sunday, saying in an interview with Fox News that: " The European Union is possibly as bad as China, just smaller". General Motors also warned that proposed tariffs on foreign cars and parts could result in fewer cars being built on U.S.
  • European Union gives stark warning to U.S. over auto tariffs

    European Union gives stark warning to U.S. over auto tariffs

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    In a letter to USA authorities, the European Commission, which handles trade policy for the bloc's 28 members, painted a stark picture of what the U.S. The move makes the future of Merkel's government even more uncertain as her Christian Democrats party (CDU) relies on the CSU to maintain power through a coalition formed three months ago to end a political vacuum.
  • United Nations chief congratulates Mexico on its election

    United Nations chief congratulates Mexico on its election

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    With almost three-quarters of the ballots counted, Lopez Obrador had about 53 per cent of the vote - the most for any presidential candidate since 1982, a time when the Institutional Revolutionary Party was in its 71-year domination of Mexican politics and ruling party victories were a given.
  • LeBron James Says Goodbye to Northeast Ohio

    LeBron James Says Goodbye to Northeast Ohio

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    After a five-year playoff drought, the Lakers could be headed to the postseason again next season. But with LeBron James in L.A. building a second superteam in the same division as Phoenix, one that will have staying power for the next few years, the Suns will have to continue to slowly build, remain patient, and take their time.