• United States wants 'concrete' trade action from China within 90 days
United States wants 'concrete' trade action from China within 90 days

Had a deal not been struck, tariffs on US$200bn worth of Chinese goods would have risen from 10% to 25% at the start of 2019. China raised its tariff on auto imports from the USA from 15 percent to 40 percent in retaliation for Trump administration tariffs on imports from China.

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  • 12 million pounds of beef recalled nationwide for salmonella concerns
12 million pounds of beef recalled nationwide for salmonella concerns

All product supplied from JBS packaging facility in Tolleson, AZ. "FSIS is continuing to investigate illnesses associated with this widespread outbreak, and additional product from other companies may be recalled", the agency said in a statement .

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  • White House backpedals on Trump's claim that China will drop auto tariffs
White House backpedals on Trump's claim that China will drop auto tariffs

While neither of these two energy products were mentioned by name, it's likely that China would not only appease the U.S.by removing tariffs on U.S. LNG imports but would also help itself since Beijing needs the diversity of supply that growing U.S.

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  • Qualcomm Says No Plans to Revive the Abandoned $44 Billion NXP Acquisition
Qualcomm Says No Plans to Revive the Abandoned $44 Billion NXP Acquisition

NXP did not immediately respond to an emailed request for comment on Monday. With NXP being the biggest supplier to the industry, Qualcomm could be forced to reopen the deal amidst a grim outlook for the mobile chip industry in the coming months.

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  • Quora gets hit in latest security breach, 100 million users affected
Quora gets hit in latest security breach, 100 million users affected

If you've used Google or Facebook to log in, or you've connected your Quora account with Facebook, Twitter, or LinkedIn, "we receive certain profile and account information about you from the Linked Network". Quora made the decision to log out all Quora users who might have been affected by the breach . Quora discovered the breach on November ...

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  • North American leaders sign NAFTA replacement deal
North American leaders sign NAFTA replacement deal

President Trump is again threatening a pullout of the North American Free Trade Agreement (NAFTA ), setting up a congressional showdown with the incoming Democrat-led House of Representatives. "It helped us get to where we are", MacNaughton said at a Public Policy Forum dinner in Ottawa. Democrats want a trade bill that strengthen protections fo...

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  • Amazon tests checkout-free shopping for larger stores
Amazon tests checkout-free shopping for larger stores

Inc.is testing its cashierless checkout technology for bigger stores, according to people familiar with the matter. There's also the issue of how the technology would work with items like fruit and vegetables, which unless pre-packed, need to be weighed to determine price.

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  • Days of Events Honoring Former President George HW Bush
Days of Events Honoring Former President George HW Bush

Jeb Bush comforts his father, former President George H.W. Bush, during a funeral service for his mother, former first lady Barbara Bush in April. The motorcade carrying his casket from the funeral home arrived Monday at Ellington Field Joint Reserve Base outside Houston along a road lined with hundreds of onlookers.

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  • Alberta orders oil production cut to deal with price differential
Alberta orders oil production cut to deal with price differential

As the excess storage clears, the reduction is expected to drop to 95,000 barrels a day. Not all the producers were happy with the Notley's order, with critics arguing that the markets can deal better with prices. The mandatory reductions will be reviewed monthly but are to continue until the end of next year. "We need them to toss the half-hea...

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  • Stock rally builds in Asia on Powell's dovish tilt
Stock rally builds in Asia on Powell's dovish tilt

Powell said in a speech in NY that interest rates remained "low by historical standards" and still provided stimulus to the economy. In turn, the 113.80 (23.6% expansion) to 114.30 (23.6% retracement) region may keep USD/JPY capped, with the Fibonacci overlap around 112.40 (61.8% retracement) to 113.00 (38.2% expansion) on the radar as it large...

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  • Trump, China's Xi Agree to End Trade and Tariff Standoff
Trump, China's Xi Agree to End Trade and Tariff Standoff

This means that the US will hold off on taxing $200 billion of Chinese imports that was originally expected to take effect on January 1st. The US has hit $250b of Chinese goods with tariffs since July, and China has retaliated by imposing duties on $110b of US products.

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  • Gulf OPEC members covered output gap left by Iran on Trump’s call
Gulf OPEC members covered output gap left by Iran on Trump’s call

The confirmation about the effectiveness of the OPEC + deal, which helped bolster oil prices after the slump that began in 2014, came as Putin said Saturday that Russian Federation and Saudi Arabia had agreed to renew the pact. The chief market analyst at XTB, David Cheetham, stated: "Speculation is mounting that Opec will deliver an output ...

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  • Qatar will pull out of OPEC amid tension with Saudi Arabia
Qatar will pull out of OPEC amid tension with Saudi Arabia

The Opec is estimated to now account for almost half of the global oil production and so has a major say in oil prices. Al-Kaabi, who is heading Qatar's Opec delegation, said the decision was not political but related to the country's long-term strategy and plans to develop its gas industry and increase LNG output to 110 million tonnes by 2024.

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  • USA lawsuit could see HP adversary Mike Lynch lose his autonomy (again)
USA lawsuit could see HP adversary Mike Lynch lose his autonomy (again)

The US has charged British tech billionaire Mike Lynch with fraud over the sale of his company Autonomy to Hewlett-Packard. They added: "HP has sought to blame Autonomy for its own crippling errors, and has falsely accused Mike Lynch to cover its own tracks".

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  • US, China put brakes on their trade dispute with ceasefire
US, China put brakes on their trade dispute with ceasefire

Under the agreement reached in Buenos Aires , the two countries have 90 days to resolve their differences over Beijing's tech policies. Investors have been eager for signs of a progress toward keeping an already costly trade dispute from spiraling into a new and broader cold war.

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  • Wall Street rallies as Fed sees interest rate 'just below' neutral
Wall Street rallies as Fed sees interest rate 'just below' neutral

Powell said in a speech Wednesday to the Economic Club of NY that the Fed is monitoring potential vulnerabilities in the banking system to ensure its continued stability. The last two recessions were triggered when asset bubbles burst, and critics said the Fed should have done more to control the financial system. The possible policy shift occurr...

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  • Trump raises prospect of import car tariff after GM cutback plan
Trump raises prospect of import car tariff after GM cutback plan

The tweet came after GM announced plans this week to cut 14,000 jobs and shut five facilities in North America, dealing a blow to the President's promise to help auto workers. "As the President has repeatedly noted, China's aggressive, State-directed industrial policies are causing severe harm to U.S. workers and manufacturers", Lighthizer said...

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  • Trump, Nieto, and Trudeau Sign US-Canada-Mexico Trade Deal Replacing NAFTA
Trump, Nieto, and Trudeau Sign US-Canada-Mexico Trade Deal Replacing NAFTA

He called the deal by its old name NAFTA , prodded Trump over United States steel and aluminium tariffs, and said General Motors Co's decision to cut production and slash its North American workforce, including in Canada , was a "heavy blow ".

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  • Fed likely to raise rates in December but concerns mounting: minutes
Fed likely to raise rates in December but concerns mounting: minutes

Powell said "interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy". "All he is doing is pointing out an obvious idea". Powell also underscored the importance he places on communicating the Fed's thinking in a way that people will understand...

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  • Trudeau, Trump and Pena Nieto set to sign USMCA
Trudeau, Trump and Pena Nieto set to sign USMCA

The agreement sets rules governing dozens of industries. Perhaps its most significant changes are related to the auto industry, for which Trump insisted on new protectionist provisions meant to wrest some manufacturing back from Mexico and overseas.

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