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Business

Martin was sacked in connection with the suspected disclosure of confidential data the third party and was charged with Musk in the spread of harmful Tesla information. After Tripp left the company, Tesla had filed a case against him claiming that he has stolen the confidential information about the company along with several other trade secrets and shared them with other parties; the company also claimed $1 Million, according to the documents filed in the court.
  • What is listeria and why are frozen products being recalled?

    What is listeria and why are frozen products being recalled?

    Business

    This after Greenyard Factory recalled all frozen vegetable products made at its plant in Hungary "due to potential Listeria contamination". Woolworths , IGA , ALDI , Campbells and other independent grocery stores have been instructed by Food Standards Australia New Zealand to pull varieties of frozen vegetables from their shelves for fear they could be contaminated by listeria .
  • China: Tit-for-tat tariffs will ‘destroy’ US-China trade

    China: Tit-for-tat tariffs will ‘destroy’ US-China trade

    Business

    There is no victor in a trade war . "I don't want it to be detrimental to other people's interest either but certainly our interests are important", Senate Finance chairman Orrin Hatch, R-Utah, told reporters Wednesday morning. While China's theft and coercion of intellectual property from foreign companies is a widely acknowledged problem, trade experts are largely skeptical of Mr.
  • Do not blame OPEC, oil producer group reacts to Trump's criticism

    Do not blame OPEC, oil producer group reacts to Trump's criticism

    Business

    Foreign ministers from the five remaining signatory countries offered a package of economic measures to Iran on Friday to counter the USA sanctions, but Tehran said the package did not go far enough. Now there are some unexpected outages, including Libya, and Venezuela's oil industry is in decline. Brent, the global benchmark, is now trading at around $77 a barrel, up more than 25 per cent this year.
  • Turkey's New Era: Turkish President Erdogan takes oath of office

    Business

    The inauguration was to be followed by a lavish ceremony at his palace on Monday evening attended by dozens of world leaders marking the transition to the new executive presidency system. "In other words, Turkey will be an institutionalized autocracy". State news agency Anadolu said Erdogan's inauguration celebration was attended by Venezuelan President Nicolas Maduro, Russian Prime Minister Dmitry Medvedev and Sudanese President Omar Hassan al-Bashir, wanted for war crimes by the ...
  • Oil prices inch up in face of tight market

    Oil prices inch up in face of tight market

    Business

    The U.S. rig count, an early indicator of future output, is much higher than a year ago as energy companies have ramped up production in response to higher prices. An executive from China's Dongming Petrochemical Group said he expected Beijing to soon impose the tariff on US oil imports. "Indian refiners can't absorb all the USA oil that was going to China".
  • Trump Tariffs Against China Take Effect

    Trump Tariffs Against China Take Effect

    Business

    At the stroke of midnight Washington time, the USA pulled the trigger on 25% duties on $34 billion in Chinese machinery, electronics and hi-tech equipment, including autos, computer hard drives and LEDs. The products, all sold on Chinese e-commerce platforms, ranged from pet food to mixed nuts and whiskey. A spokesperson for the Alliance of Automobile Manufacturers said in an email Friday that some U.S.
  • Starbucks to eliminate plastic straws in stores globally by 2020

    Starbucks to eliminate plastic straws in stores globally by 2020

    Business

    In a move meant to cut back on waste, the worldwide coffee giant said Monday that it would eliminate plastic straws from its more than 28,000 locations globally by 2020. and Canada to follow next year. The company already offers alternative straws in Seattle. Those straws will be provided for blended Frappuccino beverages, or by special request, the company said.
  • British Brexit Secretary David Davis resigns over EU exit plan

    British Brexit Secretary David Davis resigns over EU exit plan

    Business

    A leader of the campaign to take Britain out of the EU, Johnson was under pressure to act after the resignation of David Davis as Brexit secretary. In his resignation letter, Mr Davis criticised the PM's Brexit plan - agreed by the cabinet on Friday - saying it would leave Parliament with "at best a weak negotiating position".
  • Elon Musk sends 'kid-size submarine' to help Thai cave rescue

    Elon Musk sends 'kid-size submarine' to help Thai cave rescue

    Business

    Thai governor Narongsak Osottanakorn described the first rescue as "our masterpiece work" and claimed the four rescued boys were in "perfect" health - despite earlier reports that one was being "closely monitored". Musk said in a tweet Sunday evening that the pod - or "kid-size submarine" - was en route to Thailand and would arrive in about 17 hours. Divers have been guiding the boys through darkness and submerged passageways towards the mouth of the Tham Luang cave system, where they ...
  • ZTE appoints Xu Ziyang as its CEO, names CTO and CFO

    ZTE appoints Xu Ziyang as its CEO, names CTO and CFO

    Business

    As part of its settlement agreement reached in June with USA authorities, ZTE had promised to radically overhaul its management. As part of the agreement, the Commerce Department will impose a $1 billion penalty against ZTE, and a USA -selected compliance team will be embedded in the firm for 10 years.
  • US adds 213K jobs in June; unemployment up to 4%

    US adds 213K jobs in June; unemployment up to 4%

    Business

    May's figure is now being estimated higher by +37,000 vis à vis what was reported for May a month ago. In the face of generally positive numbers, the unemployment rate rose by 0.2 percent from May - when it reached an 18-year low of 3.8 percent - to the current 4.0 percent.
  • US economy adds more jobs than expected in June

    Business

    The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, rose to 62.9 percent last month from 62.7 percent in May. With such an outlook, the Federal Reserve would most likely shy away from any abrupt funds rate increase, which would benefit markets that rise when bond rates are low.
  • Iran to only trade with countries that import its oil

    Iran to only trade with countries that import its oil

    Business

    Sanctions and economic uncertainty in Venezuela , as well as fighting in Libya have also led to large declines in those countries' respective oil output, with no indications of when or if those countries will be able to bounce back. After the U.S. withdrew, oil prices spiked. They slipped toward $73 on Thursday as the Energy Information Administration reported a slight expansion in inventories.
  • Montreal unemployment rate drops to lowest level since December

    Business

    Average hourly earnings are 2.7 percent higher than a year ago, a lackluster pace compared to past eras of healthy job growth when wages were rising at 3.5 percent or more a year. Manufacturers and services firms have said in recent surveys that their business is improving despite anxiety about the tariff showdown. Retail sales jumped a strong 0.8 percent in May in a sign that consumers feel secure enough to spend.
  • United States tariffs take effect, China warns of 'counterattack'

    United States tariffs take effect, China warns of 'counterattack'

    Business

    Chamber of Commerce, told CNBC on Tuesday. "We urge the two governments to come back to the negotiation table with the aim of having productive discussions based on achieving results - focused on fairness and reciprocal treatment - instead of escalating the current situation", said Zarit of the American Chamber of Commerce.
  • Micron Technology, Inc. (MU) Loses China Case, Memory Chip Sales Blocked

    Micron Technology, Inc. (MU) Loses China Case, Memory Chip Sales Blocked

    Business

    On Tuesday, Taiwanese chipmaker United Microelectronics (UMC) announced that the Fuzhou Intermediate People's Court had ruled that Micron had infringed on its patents. It also comes as China investigates Micron and its South Korean rivals over price-fixing allegations, amid a surge in prices of dynamic random access memory (DRAM) chips.
  • Trump says NAFTA must wait for USA congressional polls

    Trump says NAFTA must wait for USA congressional polls

    Business

    The $16.6-billion in levies on American goods are in retaliation to U.S. tariffs on Canadian steel and aluminum and are on a number of every-day items you might pick up at the grocery store. The start time was also pushed back to make it more cocktail party than picnic, said Sarah Goldfeder, a principal at Earnscliffe in Ottawa and former special assistant to two USA ambassadors.
  • Asian shares battered by China turbulence as trade war anxiety heightens

    Asian shares battered by China turbulence as trade war anxiety heightens

    Business

    Chinese financial markets have been jittery ahead of a July 6 deadline, when the U.S.is set to slap tariffs on $34 billion worth of Chinese goods that Beijing has vowed to match with tariffs on USA products. The yuan is the worst performing currency in Asia over the past month, losing more than 4% against the dollar as the domestic economy slows and the nation slides closer to a trade war with the US The currency strengthened immediately after the comments were reported, having earlier ...
  • Lower oil prices or we will not ‘defend’ you

    Lower oil prices or we will not ‘defend’ you

    Business

    West Texas Intermediate, the US benchmark for the price of oil, was up 1.51 percent to $75.06 per barrel, its highest level since November 2014. Three members of the Organization of Petroleum Exporting Countries - Libya , Iran and Venezuela - are posting real, or have expected, production declines.
  • Donald Trump: OPEC is

    Donald Trump: OPEC is "doing little to help" with gas prices

    Business

    Saudi Aramco is pumping 10 million barrels a day and has the capacity to produce 2 million more , according to Saudi Aramco CEO Amin Nasser. Q: Can Saudi Arabia make up for OPEC's losses? That would translate into overall production of around 12 mb/d, which is probably unrealistic for a few reasons.
  • U.S. Chamber Of Commerce Denounces Trump Tariff Plan

    U.S. Chamber Of Commerce Denounces Trump Tariff Plan

    Business

    The EU sent comments to the US on whether auto imports pose enough of a threat to USA national security to justify tariffs and estimating the economic impact. The EU responded to the steel and aluminum tariffs with "rebalancing measures" that hit around $3.25 billion worth of American-made products. A group of nearly 60 US business associations, including the National Foreign Trade Council, have urged Congress to exert greater oversight on the Trump administration's use of tariffs and ...
  • Trump administration recommends against allowing China Mobile access to USA market

    Trump administration recommends against allowing China Mobile access to USA market

    Business

    In return, the United States said it would remove the ban - a negotiation that has been linked to wider trade tensions between the USA and China . The move against a high-profile Chinese company could add to the bitter dispute between Washington and Beijing over trade and technology. In particular, the NTIA was concerned about China Mobile interconnecting with the U.S.
  • United States 'firing at itself' with trade measures: China

    United States 'firing at itself' with trade measures: China

    Business

    That was system that small countries like New Zealand relied to resolve issues of trade conflict. "We will never fire the first shot and will not implement tariffs ahead of the USA", the Ministry of Finance said in a statement late Wednesday, after media reported that Beijing would start levying tariffs hours ahead of the U.S.
  • Hyundai Denies FCA Takeover Rumor

    Hyundai Denies FCA Takeover Rumor

    Business

    This will take place in may next year, after the retirement of Sergio Marchionne from his post. The only problem with Hyundai's conquest right now is the uncertainty with the U.S. Hyundai, however, has hit back at the rumours, with the company's senior group manager of corporate and marketing public relations Michael Stewart pointedly telling CNET's Roadshow , "That rumor is totally groundless".
  • Trump makes veiled WTO threat after European Union warning on auto tariffs

    Business

    The bill would mean abandoning key disciplines agreed at the World Trade Organization , Axios news website reported late on Sunday, to a skeptical response from trade experts. CNN confirms the existence of the leaked proposal, called the United States Fair and Reciprocal Tariff Act . The draft legislation would empower the president to ignore global trade rules set by the World Trade Organization, Axios said.
  • US Economy Could Lose $14B Over Auto Import Tariffs

    US Economy Could Lose $14B Over Auto Import Tariffs

    Business

    When Trump tried to say Monday that it's not a big deal if the trade dispute with the European Union continues, Dutch Prime Minister Mark Rutte literally laughed in his face. "The U.S. has been ripped off by other countries for years on Trade, time to get smart!" the president tweeted . "When you're nearly 800 Billion Dollars a year down on Trade, you can't lose a Trade War!" The US tariff on Chinese goods is threatening jobs at the Moog synthesiser company.
  • Walmart boycott campaign launched after outcry over 'Impeach 45' clothing

    Walmart boycott campaign launched after outcry over 'Impeach 45' clothing

    Business

    The T-shirts and infant onesies sparked a Walmart boycott and caused a stir on social media. The company also sells a wide range of pro-Trump merchandise, including a substantial number of "Make America Great Again" hats. Walmart came under fire for another incident last November when customers noticed a shirts that read, "Rope. Tree. Journalist. Some assembly required", on its third-party marketplace.
  • Corbyn congratulates Mexico’s president after winning landslide

    Corbyn congratulates Mexico’s president after winning landslide

    Business

    Investors are concerned that under Lopez Obrador, the privatization of the energy industry will be rolled back, and spending on social programs will push the country into debt. He takes office December 1. Mr Trump has congratulated the President-elect on his victory and tweeted he was looking forward to working with him and the pair have had a lengthy phone conversation.
  • How will Mexico's new president shake up NAFTA negotiations?

    How will Mexico's new president shake up NAFTA negotiations?

    Business

    President TrumpDonald John TrumpTrump congratulates Mexico's new president: "I look very much forward to working with him" Comedian who allegedly prank-called Trump says he has hired Michael Avenatti Ex-Trump aide pushes for Hope Hicks as chief of staff: Trump will "listen to women more than men" MORE on Sunday night congratulated the victor of Mexico's presidential election, a left-wing populist who has vowed to take a tougher stance against the US president.
  • 5 reasons to love the LeBron James signing

    5 reasons to love the LeBron James signing

    Business

    LeBron James's eye-watering $154 million contract with the Los Angeles Lakers is perhaps most surprising because of its length - a four-year deal that indicates King James will be in L.A. In a short statement, he said on Instagram: "Thank you Northeast Ohio for an incredible four seasons". James informed the Cavaliers on Friday that he would not exercise his $35.6 million contract option.
  • Lyft buys Motivate, firm behind Biketown, Citi Bike

    Lyft buys Motivate, firm behind Biketown, Citi Bike

    Business

    Lyft today announced it has acquired Motivate, one of the largest bike share companies in the United States. 'Lyft and Motivate have both been committed for years to the same goal of reducing the need for personal vehicle ownership by providing reliable and affordable ways to move around our cities, ' said John Zimmer, Lyft co-founder and president.