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Business

The peso extended gains after Lopez Obrador's rivals conceded defeat, strengthening around 1 percent against the US dollar and leading gains among major currencies. More than 181,000 people registered to vote from overseas, three times as many in the last election under a new policy allowing sign-ups at local consulates rather than in Mexico.
  • Iran vows to foil United States bid to block oil exports

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    Iran on Sunday asked fellow OPEC members to "refrain from any unilateral measures" to increase oil production beyond the 1 million additional barrels of crude a day it already agreed to, a warning to Saudi Arabia after President Donald Trump said the kingdom would increase production.
  • Coast Guard searching for cruise ship worker who fell overboard

    Coast Guard searching for cruise ship worker who fell overboard

    Business

    On Sunday, however, he was spotted swimming in the sea by crew aboard a different cruise ship - the Carnival Glory - about 21 miles north of Cuba . The crew member was seen falling overboard from the Norwegian Cruise Line Ship (pictured) on Saturday afternoon. "We are so happy to know that the individual is safe and will soon be reunited with friends and family.", the spokesperson told The Miami Herald .
  • US urges importers to stop buying Iranian crude

    US urges importers to stop buying Iranian crude

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    Paul Horsnell Head of Commodities Research at Standard Chartered said there could be a further 1.5 million to 2.3m b/d drop by the end of this year just from those three countries. "No good and will not be accepted!" Before last week's meeting, Russian Federation proposed OPEC and non-OPEC raised output by 1.5 million bpd, while Saudi Arabia and its Gulf allies supported an increase of somewhere between 300,000 to 600,000 bpd.
  • Elon Musk got into the weirdest fight over a farting unicorn

    Elon Musk got into the weirdest fight over a farting unicorn

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    A fan of Musk, Edwards was thrilled when he tweeted out a pic of the mug and his sales jumped. Ito made the comment after Tesla Chief Executive Elon Musk earlier this month said the USA automaker should achieve its 5,000 cars-per-week targets by the end of June.
  • Canada hits back at United States with own tariffs

    Canada hits back at United States with own tariffs

    Business

    The retaliation came as General Motors Co warned that any tariffs Washington might impose on imported vehicles could cost U.S. jobs, and as Treasury Secretary Steve Mnuchin denied a report that President Donald Trump wanted to withdraw from the World Trade Organization (WTO).
  • Oil jumps as market anticipates USA sanctions on Iran

    Business

    Bloomberg reported earlier this week that state oil company Saudi Aramco was preparing to increase production in July to about 10.8 million barrels a day after pressure from Trump . USA crude production slipped 2,000 barrels per day (bpd) to 10.467 million bpd in April from the highest on record in March, the Energy Information Administration (EIA) said.
  • Toyota says Kentucky-made Camry price could increase $1,800 with Trump tariffs

    Business

    Even if automakers opted not to pass on higher costs "this could still lead to less investment, fewer jobs, and lower wages for our employees". The National Association of Manufacturers said in its filing that that the tariff plan would "put the USA manufacturing sector at a global disadvantage, undermining growth and job creation throughout the United States".
  • Swiss Bank- Pakistani money down by 21 percent

    Swiss Bank- Pakistani money down by 21 percent

    Business

    Communist Party of India (Marxist) leader Sitaram Yechury tweeted that the rise in funds parked in Swiss banks was not surprising. The banks in Switzerland saw their profit increase about 25 percent to Swiss Francs (CHF) 9.8 billion in 2017 while the money deposited by Indians saw 50 percent rise to CHF 1.01 billion (Rs 7,000 crore) in 2017, opposite to the 3-year downward trend amid India's clampdown on suspected black money being deposited there.
  • Indian rupee hits all-time low against US dollar

    Indian rupee hits all-time low against US dollar

    Business

    The rising trend of Brent crude, beginning past year, has widened the current and fiscal accounts putting huge pressure on the rupee . Crude oil prices are at the highest levels since 2014 as production has declined. That the RBI is increasingly concerned about these outflows can be gauged from governor Urjit Patel writing an op-ed in the Financial Times warning of drying dollar funding for emerging markets putting a "sudden stop" to the global economic recovery.
  • Last Toys ‘R’ Us Stores Closing Friday; Who’s Going To Fill Them?

    Last Toys ‘R’ Us Stores Closing Friday; Who’s Going To Fill Them?

    Business

    Toys R Us is saying goodbye. The famed toy emporium filed for bankruptcy last fall and announced it would be shutting down all locations across America in March. However, on a more positive note, the 16-foot tall statue of Geoffrey that greeted visitors at Toys R Us headquarters in Wayne, New Jersey will continue to make children happy at a hospital in the state.
  • China tries to defuse trade pressure, says world benefits

    China tries to defuse trade pressure, says world benefits

    Business

    The euro edged 0.3 percent lower at $1.1672, extending its recovery from its 11-month low of $1.1508 touched on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent to a nine-month low in early trade while Japan's Nikkei shed 0.30 per cent.
  • Sweltering Europe loses its fizz as C02 shortage hits drinkers

    Sweltering Europe loses its fizz as C02 shortage hits drinkers

    Business

    But in Berlin, Amazon Fresh has stopped offering ice cream and frozen pizza for delivery because the company is short of dry ice. But that call for the food industry to be given priority has raised fears among drinks firms and smaller businesses that they will be at the back of the queue when gas supplies start to return to normal.
  • White House decides against outright limits on Chinese investment

    White House decides against outright limits on Chinese investment

    Business

    The administration will still impose $34 billion in tariffs on Chinese goods effective July 6, and China has pledged to retaliate. The investment restrictions are part of the administration's efforts to pressure Beijing into making major changes to its trade, technology transfer and industrial subsidy policies after United States complaints that China has unfairly acquired American intellectual property through joint venture requirements, unfair licensing and strategic acquisitions of U.S.
  • Trump rips Harley-Davidson as company eyes overseas growth

    Trump rips Harley-Davidson as company eyes overseas growth

    Business

    Trump's decision to slap tariffs on some European products, which prompted the EU to add its own tariffs - including higher duties on Harley-Davidson vehicles that will add an estimated $2,200 to the price of a motorbike. But the company's Securities and Exchange Commission (SEC) filing Monday directly cited retaliatory tariffs from the European Union as motivating its transfer of motorcycle production for "E.U.
  • USA firms back move to limit Trump's tariff powers

    USA firms back move to limit Trump's tariff powers

    Business

    It follows a proposed plan by Harley-Davidson to move some of its production overseas . "Their employees and customers are already very angry at them". The levy on Harley-Davidson bikes has increased to 31% from 6%, the Milwaukee-based company said. In just weeks Mr Trump has increased tariffs on imports from China, the EU, Canada and Mexico as he pushes ahead with his campaign pledge to protect American jobs and has described trading relationships with his neighbours and allies as unfair.
  • China and Europe warn trade war could trigger global recession

    China and Europe warn trade war could trigger global recession

    Business

    The paper , citing people familiar with the plans, also said that the USA will block more technology exports to China. While this was not explicitly reacting to the tariffs on washing machines and solar panels, the timing suggested a repeat of China's retaliation to former US President Obama's safeguard tariffs on tyres in 2009.
  • Oil rises on supply losses, U.S. push to isolate Iran

    Oil rises on supply losses, U.S. push to isolate Iran

    Business

    The future of Iranian crude exports is also unclear. This news caught investors off-guard on Tuesday, fueling the second major short-covering rally in three trading sessions. The United States West Texas Intermediate ( WTI) crude futures were at 68.33 dollars a barrel, up 25 cents, or 0.4 per cent. The American Petroleum Institute reported a much-higher-than-expected 9.2 million barrel fall in US crude inventories in the week to June 22 to 421.4 million barrels.
  • Trump tweet on Harley-Davidson move after tariff, European Union trade fight

    Business

    It was unclear what taxes Trump was referring to, and why the company might have to pay them, since it will maintain production in the United States for USA customers. S&P warned in January it was anxious about Harley-Davidson's sales declines. "Harley-Davidson said, they wanted to do that (move some manufacturing base overseas)".
  • Conagra seals $10.9 billion deal to buy Pinnacle Foods

    Conagra seals $10.9 billion deal to buy Pinnacle Foods

    Business

    Pinnacle shareholders, who will vote on the sale, are to receive $3 billion worth of Conagra stock, giving them about 16 percent ownership of Conagra. The company that owns such iconic brands such as Birds Eye and Duncan Hines is joining a family of names featuring Hunts and Healthy choice. Goldman Sachs and Centerview Partners are acting as financial advisers to Conagra, while Evercore and Credit Suisse were advisers to Pinnacle.
  • Facebook now allows some cryptocurrency ads

    Facebook now allows some cryptocurrency ads

    Business

    Fast forward six months, and apparently Facebook is ready for the crypto ad onslaught yet again. Therefore, in this latest move, Facebook will start to allow crypto-companies to advertise cryptocurrency products and services (such as news websites), under a list of stringent new regulations.
  • India happy with OPEC decision to raise output

    India happy with OPEC decision to raise output

    Business

    The spread between the European and U.S. markers narrowed more than 16 percent Monday and has nearly halved in under a week. ICE August Brent lagged slightly, settling $2.50 higher at $75.55/b. We believe that the investors have over-reacted to the move, which has resulted in a rise in oil prices. That's a signal that exports from the Islamic Republic may fall much further, more quickly than expected.
  • Donald Trump threatens to punish Harley-Davidson for move

    Donald Trump threatens to punish Harley-Davidson for move

    Business

    He warned that Harley-Davidson would be slapped with the same tariffs for products they sell back in the U.S. He tweeted , "Harley must know that they won't be able to sell back into USA without paying a big tax! ". Greg Cramer of York said he would hate to see American jobs lost, but said he realizes "It's a company - all they care about is the bottom line". It said the tariffs would add , on average, $2,200 (£1,660) to each bike exported to Europe from the USA as the import tax ...
  • U.S. will crack down on all countries trying to steal its technology

    U.S. will crack down on all countries trying to steal its technology

    Business

    After talks over the issue broke down this spring, the U.S. and China said they would both apply new tariffs to billions of dollars worth of goods from each other's country on 6 July. Washington also announced 25 percent tariffs on 818 imports from China, worth about $34 billion annually. China signed a deal on Monday to lift a ban on French beef and said discussions to buy Airbus planes remained open as French Prime Minister Edouard Philippe ended a four-day visit.
  • BREXIT alert. Queen Elizabeth approves law that will end membership of EU

    BREXIT alert. Queen Elizabeth approves law that will end membership of EU

    Business

    As part of the first tranche to be laid, the Government will use powers in the Bill to repeal the European Union Act 2011 as agreed by Parliament. The UK government's flagship Brexit legislation has become law, ensuring Britain will not face a legislative cliff-edge on the day it leaves the European Union next year.
  • Trump threatens Harley-Davidson with ‘big tax’ as firm plans move

    Business

    The president on Tuesday tweeted that if Harley goes through with its plans to move some production overseas , "it will be the beginning of the end - they surrendered, they quit!" European officials have said the us metals tariffs violate global trading rules, and they have threatened to retaliate with levies on iconic American brands such as Harley Davidson motorcycles and Kentucky bourbon, with what appears to be a particular eye toward companies based in regions supportive of ...
  • Turkey elections: was Recep Tayyip Erdogan’s victory fair?

    Turkey elections: was Recep Tayyip Erdogan’s victory fair?

    Business

    Ince's CHP was projected 23 percent of the poll and 146 seats. Supporters of Turkey's President and ruling Justice and Development Party, or AKP, leader Recep Tayyip Erdogan light flares during celebrations outside the party headquarters in Istanbul , June 24, 2018.
  • 'Large number' of demonstrators arrested after mass protests close Iran's Grand Bazaar

    'Large number' of demonstrators arrested after mass protests close Iran's Grand Bazaar

    Business

    Most shops remained closed. "Police have dispersed the protectors". "We are all angry with the economic situation", an unidentified merchant told Reuters . Monday's protests in Tehran and around the country - including economically hard-hit cities like Kermanshah in western Iran - included shouts of "Death to Palestine", "No to Gaza, no to Lebanon" and "Leave Syria and think of us".
  • United States seeks to cut Iran oil sales to zero

    Business

    The U.S.is pressing its allies to cut all oil imports from Iran by November 4, a senior State Department official said Tuesday. Benchmark oil prices jumped over 2 percent on Tuesday and USA crude topped $70 for the first time in two months, as Washington pushed allies to halt imports of Iranian crude.
  • Trump denies he’s to blame for Harley-Davidson decision

    Trump denies he’s to blame for Harley-Davidson decision

    Business

    Trump has championed Harley-Davidson from the beginning of his presidency, calling the brand a "true American icon" in a meeting with company executives shortly after taking office. Trump recently imposed steep tariffs on aluminum and steel imported from Canada, Mexico and Europe in his bid to level the trade playing field and reduce trade deficits between the US and its trade partners.
  • General Electric breaks off healthcare to focus on power, aviation

    Business

    In an interview with The Wall Street Journal, the 30-year GE veteran talked about the thinking behind the decision, his management philosophy and getting kicked out of the Dow Jones Industrial Average. "We have to keep a long-term perspective". His plan calls for separating the health care and oil businesses, and shrinking the company's headquarters.
  • China, Europe warn trade war could trigger global recession

    China, Europe warn trade war could trigger global recession

    Business

    Harley-Davidson, the dominant player in the USA motorcycle market said on Monday it would not pass on the cost of European Union tariffs to customers and instead focus on shifting some US production to other countries. Adding to investor concerns, Harley-Davidson Inc said it would move production of motorcycles shipped to the European Union to its global facilities.
  • Turkey marks Erdoğan's victory, start of executive presidency

    Turkey marks Erdoğan's victory, start of executive presidency

    Business

    Erdogan will now have more executive powers including the authority to appoint cabinet ministers and remove the office of the prime minister, extending his grip on Turkey until at least 2023. "There is no stopping for us until we bring Turkey, which we saved from plotters, coupists and political and economic hit men, street gangs and terrorist organizations, to among the top 10 economies in the world", he said.
  • Trump 'surprised' by Harley-Davidson move to shift work out of US

    Trump 'surprised' by Harley-Davidson move to shift work out of US

    Business

    The shift in production is an unintended outcome of US President Donald Trump's administration imposing tariffs on European steel and aluminium early this month, a move created to protect US jobs. Shifting the production overseas could take up to 18 months, the motorcycle maker said. US President Donald Trump's tweeted his disappointment at Harvey-Davidson's decision which he characterised as the company waving the white flag of defeat.
  • U.S. may use emergency law against China investments, says Bloomberg

    Business

    Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 25, 2018 . "Under the plan, the White House would use one of the most significant legal measures available to declare China's investment in USA companies involved in technologies, such as new-energy vehicles, robotics and aerospace, a threat to economic and national security", said Bloomberg .