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Business

The EU said Friday that it would counter the tariffs with penalties of their own on $3.2 billion of American-made goods. The new 31% import tariffs came into effect on June 22 and were imposed by the European Union as a response to the steel and aluminium tariffs brought by the American government.
  • Trump Tariffs Just Got A Black Eye From Harley-Davidson

    Business

    The company said it will raise investment in its global plants, but did not say which ones. Harley-Davidson motorcycle engines are assembled at the company's plant in Menomonee Falls, Wis. Build them here!" Harley-Davidson expects ramping-up production in worldwide plants will require investment and will take at least 9 to 18 months to be fully complete.
  • Uber’s future depends on convincing a London court it has changed

    Uber’s future depends on convincing a London court it has changed

    Business

    Uber, backed by Goldman Sachs and BlackRock among others and valued at over $70 billion, has faced protests, bans and restrictions around the world as it challenges traditional operators and angers some unions. The case will be heard before the Westminster Magistrate's Court, and is expected to last three to four days. At stake for the US firm is one of its most crucial foreign markets.
  • VW's electric supercar beats Pikes Peak record

    VW's electric supercar beats Pikes Peak record

    Business

    The prototype , helmed by French racing driver Romain Dumas , broke records on the Pikes Peak International Hill Climb , clocking a time of 7:57 on the 12.42 mile (19.99 kilometre) track. Since this week's tests, we have known that it was possible to break the all-time record. Pikes Peak rules say that if your run (and you only get one run) is interrupted by problems on the course, such as a crashed auto ahead of you, or mist closing in, you have to be refuelled and ready to go again in ...
  • Get your hot dog water, only $40 in Vancouver

    Get your hot dog water, only $40 in Vancouver

    Business

    Hot Dog water is real in that it's actually water with an organic hot dog in it, but Bevans is a performance artist and his product is commentary on what we're willing to buy in the name of health and wellness. You see, hot dog water resembles perspiration, so it "bypasses the lymphatic system, whereas other waters have to go through your filtering system", he explained.
  • Barrels Of Bourbon Fall In Distillery Building Collapse

    Barrels Of Bourbon Fall In Distillery Building Collapse

    Business

    Water samples were taken in the area and came back clean. The distillery owner says the warehouse, built in the 1940s, held about 18,000 barrels, half of which were affected in the collapse. The Warehouse incident will not affect normal operations or tourism activities; the Distillery expects to be open for tours on Saturday and it will resume normal business operations on Monday.
  • Angela Merkel downplays prospect of Brussels breakthrough on migration

    Angela Merkel downplays prospect of Brussels breakthrough on migration

    Business

    Most are in coastal states of arrival like Italy and Greece, or rich destination states like Germany and Sweden, where governments have felt heat from voters over the new arrivals. After an inconclusive election in September, it took Merkel months to form a coalition and secure a fourth term. German Chancellor Angela Merkel , who is battling a domestic political crisis with her coalition partners over migration, played down hopes that a full European Union summit starting on Thursday will ...
  • Theresa May will listen to Airbus Brexit concerns, No 10 says

    Theresa May will listen to Airbus Brexit concerns, No 10 says

    Business

    Rachel Reeves, who chairs the Business Select Committee, added: "This is not project fear - it is economic reality. Put simply, a no-deal scenario directly threatens Airbus's future in the United Kingdom". We have sought to highlight our concerns over the past 12 months, without success. And we need to have clarity. We have got to be able to protect our employees, our customers and our shareholders and we can't do that in the current situation.
  • Rats eat $19,000 in ATM in India

    Rats eat $19,000 in ATM in India

    Business

    A State Bank of India official said the cash machine was overseen by another company. "We have started an investigation into this rare incident and will take measures to prevent a recurrence", said SBI branch manager Chandan Sharma, Reuters reported.
  • Haldane Joins BOE Hawks, Raising Chance of Summer Rate Hike

    Haldane Joins BOE Hawks, Raising Chance of Summer Rate Hike

    Business

    Haldane's support for a rise saw him join two external members of the committee, and raised expectations among economists and markets that a rate rise soon is now more likely. The Banks of England has been holding off raising interest rates as it awaits an improvement in the economy, which grew just 0.1% in the first three months of the year.
  • Greece 'turning a page' as eurozone declares crisis over

    Greece 'turning a page' as eurozone declares crisis over

    Business

    Including previous loans and financing Greece is drawing on, eurozone officials said the country will have a buffer of 24.1 billion euros that cover its financial needs for about 22 months after the end of the program . "We believe that the adoption of the set of debt measures agreed by the Eurogroup will improve debt sustainability in the medium term". That left 2.5 billion euros in profit, plus interest of 400 million euros on a loan from the KfW development bank.
  • Take Your Dog To Work Day 2018: Memes, Jokes & Photos

    Take Your Dog To Work Day 2018: Memes, Jokes & Photos

    Business

    Having dogs around can have a calming effect and make the working day more relaxed and productive. However, in honor of Take Your Dog to Work Day , here are some local shelter dogs in desperate need of forever homes. Well, take your dog to work! But there are considerations before creating an open-door dog policy. Dogs are not only adorable but also helpful in that there are health benefits to spending time with them.
  • INTERNATIONAL - Europe ends Greece's 8-year bailout saga

    INTERNATIONAL - Europe ends Greece's 8-year bailout saga

    Business

    Under Friday's decision, Greece will receive a final 15 billion-euro ($17 billion) bailout loan installment, 9.5 billion of which will shore up an existing cash kitty to keep the country afloat post-bailout. "I think it is the end of the Greek crisis ", Tsakalotos said in Luxembourg early Friday. "We believe that the adoption of the set of debt measures agreed by the Eurogroup (of eurozone finance ministers) will improve debt sustainability in the medium term", Mario Draghi said in a ...
  • Tens of thousands demand a People's Vote in London

    Tens of thousands demand a People's Vote in London

    Business

    Trade minister Liam Fox, an arch eurosceptic, insisted that the prime minister was still prepared to walk away from the talks if no satisfactory deal was reached. "Brexit is not a done deal". Johnson meanwhile indicated he meant to pursue a hard Brexit, saying people would not tolerate a " bog roll Brexit " that was "soft, yielding and seemingly infinitely long".
  • Tesla to close more than a dozen solar installation facilities

    Tesla to close more than a dozen solar installation facilities

    Business

    The complaint says Tripp wrote code that was operating on three computer systems of other employees so that data could be exported after he left the company and it would look like those employees were guilty of the hacking. At the time many questioned the wisdom of such an acquisition given that SolarCity was a cash burner, but since then Tesla has streamlined the company's operations as it pursued its plan of growing into a one-stop shop for energy solutions, from batteries to solar ...
  • Supreme Court’s sales-tax ruling could mean $200 million for IL

    Supreme Court’s sales-tax ruling could mean $200 million for IL

    Business

    Besides, Kennedy continued, "A virtual showroom can show far more inventory, in far more detail, and with greater opportunities for consumer and seller interaction than might be possible for local stores". According to the brief, the South Dakota ruling acts where Congress should have authority. Bottom line: Online retailers will soon be required to remit sales taxes to states.
  • Donald Trump threatens 20% tariff on European Union cars

    Donald Trump threatens 20% tariff on European Union cars

    Business

    Sources said India's decision not to raise duties with immediate effect and exempt Harley Davidson bikes are goodwill gestures aimed at keeping alive the possibility of negotiating trade disputes when assistant US Trade Representative Mark Linscott visits India next week.
  • Speeding to auction record? 1962 Ferrari could fetch S$61 million

    Speeding to auction record? 1962 Ferrari could fetch S$61 million

    Business

    Whitten's long-term enthusiastic ownership only adds to the car's impeccable pedigree". A new Portofino or 488, for example, will set you back a good quarter of a million dollars, while the few examples of the rare LaFerrari Aperta commanded a couple of million when it was available - and one went for $10 million, making it the most expensive new auto ever sold.
  • Trump's policies have caused high oil prices

    Trump's policies have caused high oil prices

    Business

    The current standoff was partially triggered by the United States, with Trump calling directly on OPEC to raise output. Another big uncertainty for oil is the escalating dispute between the United States and its trading partners, which could hit US crude oil exports to China.
  • OPEC to boost oil production by 1 million barrels per day

    OPEC to boost oil production by 1 million barrels per day

    Business

    The proposal is the result of a face-saving compromise hammered out after days of diplomacy in Vienna dominated by tensions between Iran and archfoe Saudi Arabia over amending an 18-month-old supply-cut deal that has lifted oil prices to multi-year highs.
  • Opec to open oil taps

    Business

    Crude oil prices are rising sharply, extending weekly gains. The effective increase in supply, due to crunch in other nations like Venezuela , could be 770,000 bpd, which is less than half the amount OPEC reduced in supply in 2017. "The aim of the deal is to return total compliance to the current output agreement to 100%". But Iranian Oil Minister Bijan Zanganeh said that was not the case: "Each country which has produced less (than its allocation) can produce more".
  • Saudi Stocks Receive Emerging Markets Upgrade From MSCI

    Saudi Stocks Receive Emerging Markets Upgrade From MSCI

    Business

    Welcoming the MSCI move, Sarah Al Suhaimi, the chairperson of Tadawul, said: "Today's announcement from MSCI, so close on the heels of Saudi's reclassification in the FTSE Russell Global Equity Index Series, marks the further integration of the kingdom into global capital markets".
  • Supreme Court decision on sales tax could see local impact

    Business

    Justice Anthony Kennedy wrote the majority decision, joined by Clarence Thomas, Ruth Bader Ginsburg, Samuel Alito, and Neil Gorsuch. Because many e-commerce companies do not collect state sales taxes on purchases, they have had an advantage over brick-and-mortar businesses that do collect it.
  • OPEC reaches deal to raise oil output from July

    Business

    Meanwhile, production in the USA remains high. It showed that many nations have been lobbying behind the scene to enable them have their ways due to strong pressure from major consuming nations, especially the United States and China that prefer increased supply and lower prices.
  • India, top buyer of U.S. almonds, hits back with higher duties

    India, top buyer of U.S. almonds, hits back with higher duties

    Business

    The decision to hike duties is in retaliation to the unilateral increase in tariff by the United States on certain steel and aluminium products earlier this year which had tariff implication of United States dollars 241 million on India. This measure was targeted at Harley-Davidson motorcycles. Bilateral trade rose to $115 billion in 2016, but the Trump administration wants to reduce its $31 billion deficit with India, and is pressing New Delhi to ease trade barriers.
  • European Union slaps retaliatory tariffs on USA as trade war rattles markets

    European Union slaps retaliatory tariffs on USA as trade war rattles markets

    Business

    European Commission president Jean-Claude Juncker said duties imposed by the U.S. on the EU go against "all logic and history". This month, the President said that, by July 6, the United States will impose stiff 25 percent tariffs on several kinds of Chinese goods, worth an estimated US$34 billion - a figure that could rise as high as $200 billion if the list of goods is widened.
  • European Union to begin counter trade tariffs against USA on Friday

    European Union to begin counter trade tariffs against USA on Friday

    Business

    The European Union (EU) has introduced retaliatory tariffs on United States goods as a top official launched a fresh attack on President Donald Trump's trade policy. "We continue to call on the EU Commission to seek to de-escalate tensions with the U.S. and Russian Federation to avoid us slipping into a devastating trade war", Mr Lavelle said.
  • OPEC enters meeting that could set direction of oil prices

    OPEC enters meeting that could set direction of oil prices

    Business

    In case of reduced USA oil exports to China, the biggest victor of an oil trade war will be OPEC-the supplier that has seen its market share diminished by US oil. United States crude inventories fell by 3 million barrels to 430.6 million barrels in the week to June 15, according to American Petroleum Institute (API) in a weekly report on Tuesday.
  • Falling German crime stats

    Falling German crime stats "speak for themselves"

    Business

    The Merkel party, Christian Democratic Union, CDU, and Seehofer, Christian Social Union, CSU, are twinned formations for decades and toger y form conservative bloc that shares government in Berlin with Social Democrats. But they still often go north, including to Germany. Merkel and Seehofer both argue that the law is on their side. German Chancellor Angela Merkel was given two weeks Monday to agree a new migration policy with European leaders or face a renewed rebellion from her own ...
  • Global stocks, oil suffer as US-China trade spat heats up

    Global stocks, oil suffer as US-China trade spat heats up

    Business

    USA tariffs on Chinese products including steel, aluminium, and those that benefit from China's industrial development subsidy programmes including the "Made in China 2025" technology upgrade plan, could hurt a broad number of China-listed companies, said fund manager Dai, who is general manager of Shanghai Wisdom Investment.
  • Audi CEO Rupert Stadler arrested in diesel investigation, report says

    Audi CEO Rupert Stadler arrested in diesel investigation, report says

    Business

    His arrest has plunged VW into a crisis at the leadership level. Stadler is the highest-ranking Volkswagen executive to be taken into custody over the scandal. Prosecutors in the Bavarian state said the arrest was justified because of the "risk of concealment of evidence". 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 said on Monday, without citing ...
  • Australian telecom giant Telstra to split in two

    Australian telecom giant Telstra to split in two

    Business

    Telstra's mobile network assets will not be part of the new business unit, that includes spectrum, radio access equipment, towers and some elements of backhaul fibre, which will remain integrated with Telstra's core customer segment focused business which is also important for Telstra's mobiles business as it executes its 5G strategy.
  • Computer issues in Charlotte delay flights in Toledo

    Computer issues in Charlotte delay flights in Toledo

    Business

    We are not sure when these airline issues will be resolved and we strongly recommend that American Airlines passengers with tickets check their flight status before coming to the airport. Less than a week after a regional carrier for American Airlines was forced to cancel hundreds of flights out of Charlotte due to a " technical issue " - and days after service was reportedly restored - the same problems appear to be flaring back up again.
  • Had best job, Arun Jaitley 'dream boss', says outgoing CEA Arvind Subramanian

    Business

    CNN-News18 (formerly known as CNN-IBN) has been the world's window to India and India's window to the world. "On the expiry of the three year I had requested him to continue for some more time. "I will miss his dynamism, energy, intellectual ability and ideas", Jaitley said. He would walk into my room-at times several times a day-addressing me as "Minister" to give either the good news or otherwise.
  • Amazon is bringing Alexa to hotel rooms

    Amazon is bringing Alexa to hotel rooms

    Business

    Using the new tool, customers will be able to use connected Amazon Echo devices in their room to get hotel information, contact the hotel to request guest services, play music in their room, and find out pool and fitness centre opening hours among a long list of options.
  • Starbucks To Close 150 U.S. Stores as Sales Growth Underwhelms

    Starbucks To Close 150 U.S. Stores as Sales Growth Underwhelms

    Business

    The company made the announcement after lowering its guidancefor comparable same-store sales growth in the current quarter to just 1%, well below the 2.9% expected by analysts. The Seattle-based company announced Tuesday that it will close approximately 150 underperforming stores in its most densely populated USA markets amid sluggish sales - up from its usual rate of 50 per year.
  • Disney raises its bid for Fox to $71 billion

    Disney raises its bid for Fox to $71 billion

    Business

    Disney is locked in a battle with United States media conglomerate Comcast , which has offered $65bn in cash for Fox. Comcast's offer was all cash. Last week, a judge signed off on AT&T's purchase of Time Warner, the parent company of CNN.