• European Union slaps tariffs on United States as trade war erupts
European Union slaps tariffs on United States as trade war erupts

Reuters reported that Gao Feng, a spokesman for the Chinese Commerce Ministry, said the Trump administration's trade policies will in the end be counterproductive for American interests. In trade wars, there tend to many casualties and few winners. The US, which has also imposed levies on goods from China, Canada and Mexico, may up the ante ...

Read more

  • Saudi Arabia: Deal can be done this week to boost oil supply
Saudi Arabia: Deal can be done this week to boost oil supply

India's trade deficit in May widened to $14.62 billion, the highest in four months, driven mainly by a 50 per cent surge in the country's oil import bill. The kingdom's plan involves a complex calculation based on how much the group has cut production beyond the initial target of 1.8 million barrels a day set in 2016, said delegates, asking not be ...

Read more

  • The new Volvo S60 is predictable but good
The new Volvo S60 is predictable but good

The S60's relatively puckered snout compared to other luxury sedans hints at the S60's mostly conservative design in other places. "It also brings the acclaimed technology from our 90 Series and other 60 Series cars into this segment, making it one of the best sports sedans on the market".

Read more

  • Trump Slams Germany Amid Border Policy Outcry: Migrants ‘Violently Changed Their Culture’
Trump Slams Germany Amid Border Policy Outcry: Migrants ‘Violently Changed Their Culture’

The sharp escalation of tensions between Merkel and her long-time Bavarian allies came with European Union nations once again at loggerheads over immigration , triggered by Italy's refusal this month to allow a rescue ship carrying 630 migrants to dock.

Read more

  • Markets Right Now: US stocks to open lower on trade tiff
Markets Right Now: US stocks to open lower on trade tiff

Initially, 545 U.S. products valued at $34 billion will be targeted by China, mimicking the Trump administration's tariff rollout. But for U.S. importers looking to get tariff-hit cargo from China before the July 6 deadline, it could pay to use air freight instead.

Read more

  • Audi boss Rupert Stadler held in German diesel emissions probe
Audi boss Rupert Stadler held in German diesel emissions probe

Munich prosecutors had conducted searches at Stadler's private residence as a part of the probe concerning alleged fraud and indirect improprieties with documents. Mark Clothier, a spokesman for Audi, confirmed the arrest and declined to comment further, because the investigation is ongoing. Two managers are serving prison terms; Winterkorn ...

Read more

  • Oil prices dip as Iran signals support for small OPEC supply increase
Oil prices dip as Iran signals support for small OPEC supply increase

Even with Iran appearing to fall in line, analysts do not expect a harmonious OPEC meeting. Saudi Arabia and Russian Federation are said to be proposing a production boost of 1.5 million bpd, which observers and OPEC sources think is just a starting point for negotiations to settle on a compromise at somewhere between 500,000 bpd and 700,000 ...

Read more

  • Telstra hit by more mobile outages
Telstra hit by more mobile outages

Telstra has confirmed services are either "interrupted" or "intermittent" and it remains unknown how long the problem will take to fix, or what is causing the outage. "The majority of those services have already been restored". The user-generated map of where Telstra users are experiencing issues. Millions of Australians were left without acces...

Read more

  • European Union retaliatory tariffs to hit U.S. products on Friday
European Union retaliatory tariffs to hit U.S. products on Friday

In return, the European industry leaders want U.S. President Donald J. Trump to withdraw the threat of imposing a 25 percent tax on European auto imports, made after the EU threatened retaliation to metal tariffs. He said a global solution is need to stop China from shipping its steel through other countries to get around tariffs that the United St...

Read more

  • EU says it will start to impose tariffs on US on Friday
EU says it will start to impose tariffs on US on Friday

The retaliatory measure comes in response to USA tariff hikes on steel and aluminum that were imposed on European Union member countries on June 1, with the White House citing grounds of national security. Blue jeans may be among the products that will be hit by retaliatory tariffs announced by the European Union against the United States. Warren l...

Read more

  • $4K a minute pours in to couple’s fundraiser for separated immigrant families
$4K a minute pours in to couple’s fundraiser for separated immigrant families

The Bay Area couple had been struck by the sight of the anguished 2-year-old Honduran girl looking up at her mother, who was being searched by a US Border Patrol agent in southern Texas. Children can't be held in criminal detention, so they are being separated from their parents. The latest border-control policy has resulted in numerous immigrant...

Read more

  • Arvind Subramanian quits as Economic Advisor, Jaitley accepts the resignation
Arvind Subramanian quits as Economic Advisor, Jaitley accepts the resignation

On Wednesday, the Swadeshi Jagran Manch (SJM), an affiliate of the RSS, seemed to welcome Subramanian's departure and said India didn't need imported consultants. Subramanian, whom the Foreign Policy magazine had named as one of the world's top 100 global thinkers in 2011, has also been ranked amongst the top 1 per cent of the world's academic econ...

Read more

  • Amazon's Alexa will now butler at Marriott hotels
Amazon's Alexa will now butler at Marriott hotels

Will it make you more likely to buy Amazon Echo over Google Home? Amazon has rolled out Alexa for Hospitality , and Bethesda, Maryland-based Marriott International will be among the first hotel chains to deploy the voice-activated Echo device in rooms.

Read more

  • Starbucks closing 150 stores
Starbucks closing 150 stores

Starbucks shares fell by as much as 5% in after-hours trading Tuesday after the company announced a third-quarter sales forecast that was weaker than analysts had expected. The iconic coffee chain, which typically shuts down about 50 stores per year, said in a statement that the closures will occur mostly in "densely penetrated markets".

Read more

  • Fox agrees to £54bn bid from Disney in blow to Comcast
Fox agrees to £54bn bid from Disney in blow to Comcast

In light of the new Disney offer, Fox has reportedly not concluded that the June offer from Comcast would count as a "superior proposal", as per the existing merger agreement with Disney, but the new amended offer still allows the Fox board of directors to evaluate a new competing proposal.

Read more

  • Escalating trade war between US & China sends shock waves through markets
Escalating trade war between US & China sends shock waves through markets

Pompeo said he raised the issue with Chinese President Xi Jinping. The Nasdaq and the S&P 500 futures are also pointing lower before the opening bell. "But the United States will no longer be taken advantage of on trade by China and other countries in the world". But on Saturday, Beijing announced 25 percent tariffs on $34 billion of us i...

Read more

  • Hackers steal almost half a billion rand in Seoul bitcoin exchange heist
Hackers steal almost half a billion rand in Seoul bitcoin exchange heist

Tokens including Ardor, Ethos, Polymath, and Aion have continued their downward trend against both Bitcoin and the USA dollar, triggered by the Bithumb hack and increasing negativity surrounding the cryptocurrency market of South Korea. In the aftermath of the hack, the company immediately blocked user withdrawals to prevent the hacker from steal...

Read more

  • Telstra to axe 8000 jobs over four years
Telstra to axe 8000 jobs over four years

However, we are now at a tipping point where we must act more boldly if we are to continue to be the nation's leading telecommunications company", Telstra CEO Andy Penn said in a statement to the ASX. Under Telstra2022 all Telstra's 1800 consumer and small business plans are going to be "retired, " replaced by 20 core plans sitting on digital p...

Read more

  • Drastic cuts to Telstra's phone plans
Drastic cuts to Telstra's phone plans

Telstra says it is targeting a further $1 billion in cost cutting by the 2022 financial year. Mr Penn said the telecommunications sector had never been under more pressure, with the development of the NBN, significant increased competition, and huge pressure to invest in new technologies.

Read more

  • Mice chew up cash worth Rs1.3 million inside ATM in India
Mice chew up cash worth Rs1.3 million inside ATM in India

As per a report by India Today , most of the shredded currency were notes of Rs 500 and Rs 2000. Subsequently, on June 11, the company had re-opened the ATM only to realize that the whole sum has been shredded to pieces by mice. Bank officials claimed rodents nibbled notes worth Rs 12,38,000. On May 19, a Guwahati-based financial firm had re...

Read more