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California Governor signs strong net neutrality protections into law


Jerry Brown signed the nation's toughest net neutrality measure Sunday, requiring internet providers to maintain a level playing field online, and on the same day, the Justice Department responded by filing a lawsuit against California. The Justice Department says the new California law illegally conflicts with federal rules. State legislators began working on the bill when the Trump administration began to scale back net neutrality regulations a year ago, with many Democrats viewing the ... Read More »

Tesla shares soar after Musk gets ousted as chairman


Musk, a co-founder of Tesla , is the company's largest stockholder, owning approximately 22 per cent of its outstanding shares. The surrender spared Mr Musk from potentially being ousted from Tesla , a prospect that had rattled investors and sent the company's shares sharply down at the end of last week. Read More »

Elon Musk to give up role of Tesla chairman


Shares of Tesla Inc ( TSLA .O) jumped almost 16 percent on Monday after Chief Executive Elon Musk settled with the U.S. Securities and Exchange Commission ( SEC ) over charges of misleading investors, heading off moves to force him out. Read More »

Federal Reserve raises interest rates again


Mr Trump's position was markedly different when he was a presidential candidate, attacking then Fed Governor Janet Yellen and the U.S. central bank for keeping interest rates low after the 2008 financial crisis and contributing to what he said was a "big, fat, juicy bubble". Read More »

Freeland back in Canada, postpones United Nations speech


Nevertheless, Treasury Secretary Steven Mnuchin on Thursday said while he hopes the U.S. and Canada will reach a trade agreement , he's confident Congress will approve a Mexico-U.S. But late on Thursday, U.S. officials reached out to Canada to ask for details of Ottawa's negotiating demands and where it might be able to make compromises, Reuters reported . Read More »

Elon Musk has been charged with securities fraud


Over the next week, he then discussed the possibility of taking Tesla private with private equity investors. Tesla will stay public , Musk said on August 24, ending more than two weeks of speculation and calculation about how much a go-private deal would cost and who could be involved in it. Read More »

Tesla to build own car carriers


According to Teslarati, Musk did admit that much of the EV factory's problems are more concerned on logistical issues which it seeks to address by implementing some unconventional strategies such as building its own carriers. As Model 3 deliveries reach fever pitch during the final week of the third quarter, Tesla is coming up with innovative methods to get produced cars to their waiting customers. Read More »

Canada deal in doubt; focus shifts to Japan trade talks

Lighthizer said Tuesday that the administration will immediately submit the text of a U.S. -Mexico deal to Congress if Canada does not sign on by then. "We'll see where it goes, but so far it's been tough", he said. Talks look set to stretch past the next deadline, Sunday, when the USA wants to publish text of its deal with Mexico. Read More »

US Federal Reserve raises interest rates amid strong growth


In a statement after its latest policy meeting, the Fed dropped phrasing it had long used that characterized its policy as "accommodative" - that is, favoring low rates. The Fed's actions and its updated economic forecasts on Wednesday had been widely anticipated, and there was little immediate reaction in the stock or bond markets. Read More »

Donald Trump dumps on Canada, knocks Freeland, threatens tariffs


He took aim at the country's dairy tariffs and reiterated his threat to tax Canada's auto industry. The Trade Representative is supposed to meet with Canadian Foreign Minister Chrystia Freeland sometime during the United Nations General Assembly meeting in NY, but an unnamed senior administration official said that chances of a last-minute deal are slim. Read More »

Oil price rises as markets tighten ahead of Iran sanctions


US crude futures CLc1 rose 20 cents to $72.28 a barrel, close to the highest since mid-July. USA officials, including President Donald Trump , are trying to assure consumers and investors that enough supply will remain in the oil market while requesting producers raise their output. Read More »

Oil eases, but Iran sanctions keep prices near late 2014 highs

In a speech at the United Nations, Trump ratcheted up pressure on OPEC nations with a threat to demand payment for U.S. military protection after they ignored his call last week to reduce prices. "And they must contribute substantially to military protection from now on". Crude oil is off of recent highs with WTI crude barrels back into the 72.00 level after peaking at 72.72, driven higher by incoming U.S. Read More »

Why Michael Kors scored with its Versace acquisition


Michael Kors , with roots in the United States but headquartered in London, has struck a deal to buy Versace for 1.83 billion euros ($2.1 billion), a statement said. Versace does not disclose financial details, but documents deposited with the Italian chamber of commerce show it had sales a year ago of 668 million euros and earnings before interest, tax, depreciation and amortisation (EBITDA) of 45 million euros. Read More »

Oil slips as OPEC reportedly weighs increasing output


A second round of penalties targeting Iran's oil exports is due to come into effect in early November, and the USA administration has been pressuring other countries to cut their Iranian crude imports. Under previous US sanctions, some buyers received waivers as long as they reduced imports but the current administration aims to cut Iran's oil exports down to zero to force Tehran to negotiate a nuclear treaty. Read More »

Trump criticises Iran as 'corrupt dictatorship' at United Nations


Trump's declaration, which has become a frequent remark at his campaign rallies and public appearances, led to some laughs from the audience at the United Nations . Some in the audience also grumbled during Trump's remarks when he said "we reject the ideology" of globalism and criticized nations such as Germany for agreeing to an oil pipeline with Russian Federation. Read More »

USA using false accusations on trade to 'intimidate' countries: China


Last week, China announced retaliatory tariffs on United States products worth $60 billion after the U.S. did not withdraw its duties on Chinese imports worth $200 billion effective from Monday. "Given these developments, it is increasingly likely that both sides will not resume negotiations for some time, at least until there is a noticeable shift in the political mood on either side", the analysts said. Read More »

Michael Kors Is Close to Buying Versace for $2 Billion


London-based Kors past year snapped up shoemaker Jimmy Choo Plc for about 896 million pounds ($1.2 billion), expanding beyond its namesake brand. Artistic Director of the fashion giant and Vice President of the company said to be worth about $2 billion, Donatella Versace , has reportedly called a meeting in Milan for Tuesday. Read More »

Could you stay 30 hours in a coffin?


The theme park will hold what it's calling the "30-Hour Coffin Challenge" on October 13-14, offering a $300 cash prize (along with two season passes) for one person willing to spend 30 hours in the 2-foot-by-7-foot container. If you're interested in spending one of your October weekends in a coffin, you can enter to participate in the competition by filling out this form and submitting it before midnight on October 3. Read More »

ABC sacks MD Michelle Guthrie


The challenges are nothing new - the ABC has always received pressure from the government of the day over its news coverage. In a statement Guthrie has said she is " devastated " by the decision "despite no claim of wrongdoing" on her part and is considering her legal options. Read More »

Trade war: China pulls out of talks with the USA over tariffs


The U.S. targeted $200 billion worth of items from China, at a rate of 10 percent. The company said prices for items ranging from food to auto seats to luggage to gas grills and Christmas lights, could increase in price by anywhere between 10 percent to 25 percent. Read More »

Iran says oil to rise as Saudi, Russia do 'little and late'

Crude oil futures have spiked in early Asian trade on Monday, a move unlikely to be welcomed by US President Donald Trump who took to Twitter late last night to express his displeasure at recent price gains. "The reason Saudi Arabia didn't increase more is because all of our customers are receiving all of the barrels they want". Oil at US$100 may not be sustainable in the longer-term because demand may be threatened by the U.S. Read More »

Porsche eliminates diesel cars from its lineup


German carmaker Porsche has stopped manufacturing diesel models in the wake of parent company Volkswagen's emissions scandal. The first German automaker is saying auf wiedersehen to diesel as the market makes an important shift towards electrification. Read More »

OPEC chief says Iran still ‘very important as USA sanctions loom


United States crude futures were down 6 cents at $69.79, after gaining 1.4 per cent the day before. USA sanctions affecting Iran's oil exports come into force on November 4 and many buyers have already scaled back Iranian purchases. USA crude inventories fell 2.1 million barrels last week to 394.1 million barrels, the lowest level since February 2015, government data showed . The tariffs are likely to limit economic activity in both China and the USA and that should lower oil demand ... Read More »

Coca-Cola May Start Making Cannabis Beverages


Coca-Cola is the latest in a growing line of drinks companies to have shown an interest in the production of cannabis drinks. That's a non-psychoactive ingredient derived from marijuana. According to the Centers for Disease Control and Prevention, the difference is that marijuana, which is the dried leaves of the cannabis plaint, does contain THC. Read More »