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Iran says OPEC won't take direction from Trump

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The production limits by the Organization of the Petroleum Exporting Countries and Russian Federation have helped increase oil prices , with the benchmark United States crude contract hitting its highest level in more than three years in May. Read More »

We May Know the Date for Amazon’s 36-Hour Prime Day

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Amazon Prime Day will take place on the 17th of July, not the 10th as previous suspected, according to an image spotted on Amazon UK by Techradar . Amazon launched Prime, its subscription service that includes faster deliveries and video streaming of worldwide and Indian content, two years ago in India at an introductory offer price of Rs 499. Read More »

Global shares rise, oil prices jump on OPEC news

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Opec's decision confused some in the market as the producers gave opaque targets for the increase, making it hard to understand precisely how much more it will pump. How that translates into effective production increases is uncertain, as some OPEC countries can not easily ramp up production. Venezuela's production has dropped amid domestic political instability. Read More »

Donald Trump threatens 20% tariff on European Union cars

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Shares of European automakers, such as BMW and Volkswagen , fell after Trump's tweet . Ford Motor shares went into the red and were down 0.5%, while General Motors shares were off 0.3%. The E.U.'s retaliation is relatively modest - Trump's tariffs had hit roughly $7.5 billion of European products. "Automakers support reducing trade barriers across the board". Read More »

Internet sales tax ruling could have big impact in Florida

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State officials - including in SC, with its 6 percent sales tax - have argued they were losing out on millions - if not, in some cases, billions - of dollars in revenue a year under the Supreme Court's previous 1992 decision . South Dakota law requires retailers with more than $100,000 in sales or 200 transactions annually in the state to pay a 4.5 percent tax on purchases. Read More »

After India, now European Union slaps additional tariffs on the US

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What happens in this regard is a possibility of trade diversion. The tariffs, which took effect at midnight (2200 GMT Thursday) according to the EU's official journal, will further fuel jitters on world stock markets that are already alarmed by trade tensions between the United States and China . Read More »

China’s tariffs on US oil would disrupt $1 billion monthly business

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So, they don't want the other countries to increase the output. Brent crude prices dropped to $73.44 a barrel last Friday, the lowest since 2 May. The agency noted that if the 2018 and 2019 forecast annual averages materialize, they would be the highest levels of production on record, surpassing the previous record set in 1970.EIA expects that OPEC crude oil production will average 32.0 million b/d in 2018, a decrease of about 0.4 million bpd from the 2017 level. Read More »

OPEC moves towards raising oil supply as Iran softens stance

He echoed earlier comments from OPEC Secretary-General Mohammad Barkindo. In a night of drama in Vienna , the Joint Ministerial Monitoring Committee, which recommends policy to the group, reached an agreement despite Bijan Zanganeh, the Iranian oil minister, walking out of the meeting and predicting Opec won't reach a final deal when it meets formally on Friday. Read More »

Trump threatens new tariffs on Chinese imports

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Earlier, the Shanghai Composite Index .SSEC ended 3.8 percent lower after slumping almost 5 percent at one point to its lowest level since mid-2016. The S&P/TSX composite index closed down 67.10 points at 16,316.53, led by losses in the base metal sector. The top White House trade adviser, Peter Navarro, says Beijing "may have underestimated the resolve of President Donald J. Read More »

European Union levies tariffs on $3.2B on USA goods over metals duties

Announcing the European response, which will target £2.4billion (€2.8bn) worth of United States products, Ms Malmstrom said Brussels had no choice but to fight back. The firms called for all tariffs to end, on both the European Union and U.S. side, to boost free but also fair trade across the Atlantic, passing the message to the U.S. Read More »

Bithumb Hacked Second Time in a Year. Hackers Steal $31 Million

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Another $32 million of crypto, gone. South Korea's biggest cryptocurrency exchange, Bithumb, said Wednesday it lost 35 billion won (US$31.5 million) worth of cryptocurrencies in a hacking attack, highlighting concerns that cryptocurrency exchanges are vulnerable to cyber attacks. Read More »

Walt Disney raises bid for Fox assets to $71.3 billion, tops Comcast

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Deadline reports most analysts and industry observers had expected Disney to match Comcast, but not go so much higher. Disney chairman and chief executive Robert Iger said the acquisition of the 20th Century Fox studios and television assets in the United States and overseas would better position his company to compete in a media landscape being disrupted by big technology players. Read More »

Trump lashes out at Canada over trade

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Dr Zhou and her team had looked at the USA imposing tariffs on China without any retaliation, China imposing tariffs on U.S. goods, and an all-out trade war between the two. Trump , pursuing his "America First" policy, has been insisting that China has been unfairly benefitting from a massive trade imbalance with the United States, now estimated to be Dollars 376 billion. Read More »

Audi chief arrested over emissions

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Volkswagen first admitted in 2015 it had rigged millions of diesel engines to cheat on emissions tests. Earlier in the month, at least 60,000 Audi A6 and A7 cars across Europe were called in to remove the illegal software. Munich prosecutors and Stadler himself were not immediately available for comment. Volkswagen's supervisory board has nominated Bram Schot as interim chief executive at its luxury brand Audi following the arrest of Rupert Stadler , Germany's Sueddeutsche Zeitung ... Read More »

China Declares Trade War Launched After Trump Unveils $50B Tariffs

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Soybeans are a key USA export to China, an economic tie that makes the back-and-forth between the United States and China a source of anxiety throughout the American farm belt. "These tariffs are essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs". Read More »

Google to invest $550 million in China e-commerce giant JD.com

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With some significant assistance from Google, there is opportunity for JD's expansion into European and USA markets. In March, Reuters reported a new program where Google was teaming up with retailers like Walmart , allowing them to list their products on Google Search, as well as on the Google Express shopping service to better compete with Amazon . Read More »

DoJ Report Biased, Reached Wrong Conclusion

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Thanks to the IG report, however, we know now Comey's FBI made investigatory conclusions about Clinton's actions before the end of the witness interviews - and that those interviews were conducted with excessive deference to Hillary's staffers, who were showered with immunity deals for still-unknown reasons. Read More »

Local concerns after Kansas City police kill 3

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The investigation is being handled by the police department in Kansas City, Kansas. An inmate overpowered two sheriff's deputies while being transported to a Kansas City courthouse on Friday, resulting in a shooting that killed one deputy and critically wounded the other, authorities said. Read More »

European Central Bank will stop its bond-buying scheme, €30bn a month, next December

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The euro fell and eurozone stocks surged after the European Central Bank said it expected interest rates to remain at current record lows for at least another year. Technology stocks were the biggest advancers, with Facebook and Alphabet leading the pack. The Hong Kong Monetary Authority (HKMA) raised the base rate charged through overnight discount window by 25 basis points on Thursday to 2.25 per cent after the Fed raised interest rates by a quarter of a percentage point. Read More »

Elon Musk’s Boring Company gets Chicago airport loop contract

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Loop aims to shuttle passengers between downtown Chicago and O'Hare International Airport in 12 minutes, at speeds of more than 100 mph, with an estimated trip cost of $20 to $25 per ride, the Chicago Tribune reported . While where is no official timeline for the project or an estimated cost, the Tribune cited a source who estimated price as less than $1 billion. The company said the price for riders will be about half that of an Uber or taxi, which are now around $40 per fare. Read More »

Federal Reserve raises interest rates

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That indicates a slightly faster rate of increases than analysts had expected, reflecting the Fed's view that economy is in good shape. The decision to raise rates comes as the U.S. Rates for savers have tended to lag the Fed's hikes . Powell also announced the central bank would start holding news conferences after every policy meeting next year , which means a total of eight in 2019. Read More »

Fed raises rates, Powell talks future plans

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The Fed now foresees four rate hikes this year , up from the three it had previously forecast . Consumers can expect interest rates to rise for all types of debt . Since the Fed began holding quarterly news conferences in 2011, it has announced major policy moves only at the quarterly meetings, which have all been followed by a news conference by leader of the Fed. Read More »

Oil Prices Are Too High

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Crude inventories fell by 4.1 million barrels in the week to June 8, exceeding analysts' expectations for a decrease of 2.7 million barrels. Trump's grousing follows reports suggesting the oil exporters group was already planning to open the spigots, an outcome the International Energy Agency hinted at in its monthly report released earlier Wednesday. Read More »

Dominos Is Filling In Potholes Across America To Save Your Pizza

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The company says it's sick and exhausted of its pizzas being thoroughly beaten around by America's poor roads during delivery, so has chose to do something about it. Domino's is here to lend a hand, the company has announced , with its new " Paving for Pizza " initiative. The pizza chain has already done work in four cities to fix roads that directly affect their customers. Read More »

AT&T and Time Warner win legal battle, confirming the merger

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But if the ruling falls in the Justice Department's favor, a new era of government scrutiny over these types of mergers could freeze further consolidation in the industry. AT&T has said it needs to buy Time Warner to compete with the likes of Amazon, Netflix and Google in the shape-shifting streaming-TV environment. Read More »

Kim, Trump arrive in Singapore for landmark summit

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Trump did most of the talking, and Kim appeared to listen attentively, turning to him three times during their walk toward their meeting room. The first meeting that the pair had on their schedule was one-on-one, accompanied only by translators. Read More »

Justin Trudeau: We won't be pushed around by Trump

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Robert Lighthizer, United States Trade Representative, and Peter Navarro chat while they wait for U.S. President Donald Trump to arrive to make an announcement about new tariffs for steel and aluminum imports at the White House in Washington, U.S. Read More »

Tesla's next software update will add fully self-driving features

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He added that "to date, Autopilot resources have rightly focused entirely on safety (and) with V9 (version 9), we will begin to enable full self-driving features". Electric cars get a lot of attention, but the electric motorcycle segment has been booming in the shadows for the past several years. Missy Cummings, the director of Duke University's Humans and Autonomy Lab, said Musk's self-driving statement was an "attempt to generate hype" and that his assertion of a focus on safety was ... Read More »