Finance


JCPOA members resolved to stand up to USA exit: Iran JCPOA members resolved to stand up to USA exit: Iran
- July 08, 2018

Iran's remaining partners in the 2015 nuclear deal vowed Friday to keep the energy exporter plugged into the global economy despite the United States withdrawal and sanctions threat. "If the process of the European foreign ministers' meeting in Vienna , which is aimed at encouraging Iran to cooperate, is promising, we will continue our cooperation", he said. (more...)
China markets swing wildly on uncertainty about growth and trade China markets swing wildly on uncertainty about growth and trade
- July 06, 2018

In early trade on Tuesday, yuan weakened to a low of 6.7204 against the dollar, the lowest since August 7, 2017. On equity markets, Hong Kong dived as much as 3.3 per cent at one point to nine-month lows, hit also by a U.S. The US Commerce Department on Monday added to the standoff by recommending against the approval of China Mobile's seven-year-old application to enter the US market, citing national security concerns. (more...)
Trump's tweets have added $10 to oil prices - OPEC Trump's tweets have added $10 to oil prices - OPEC
- July 06, 2018

Saudi Arabia doesn't seem to be in a rush to fulfill Trump's request for an extra 2 million barrels per day . "Falling production from Venezuela and an expected decline in supply from Iran after U.S. WTI (oil futures on NYMEX) witnessed good two-way price movements so far this Wednesday, now down more than a dollar from daily tops at $ 74.88, as the recovery attempts remain capped by the $ 74 handle. (more...)
Trump’s tweets have added $10 to oil prices, Iran’s OPEC boss says Trump’s tweets have added $10 to oil prices, Iran’s OPEC boss says
- July 06, 2018

Oil surged in the past two weeks as the US pushes allies to end imports of Iranian crude, disruptions persist in places like Libya and American crude inventories shrink. Trump claimed in a tweet that Saudi King Salman bin Abdulaziz Al Saud had agreed to his call to boost production by "maybe up to 2,000,000 barrels". (more...)
Donald Trump threatens action on WTO after reports he wants to withdraw Donald Trump threatens action on WTO after reports he wants to withdraw
- July 06, 2018

Trump also said on Sunday that the EU was "as bad" as China when it came to the way European countries traded with the US. A Russian official told the WTO meeting that the issue of US investigations had been raised over the past year in different WTO meetings, only to see things change for the worse. (more...)
China rejects 'blackmail' on eve of U.S. tariff hike China rejects 'blackmail' on eve of U.S. tariff hike
- July 06, 2018

On July 6, tariffs on Dollars 34 billion worth of imports will take effect, and Beijing has promised to retaliate in kind. On Thursday, Commerce Ministry spokesman Gao Feng hit back at "threats and blackmail" ahead of the planned US tariff hike. (more...)
EU delivers stark warning to US over auto tariffs EU delivers stark warning to US over auto tariffs
- July 04, 2018

It would break worldwide law and "further damage the reputation of the United States", it said . And Japanese plastics processor Toyoda Gosei Co. I have a feeling [López Obrador] is going to be fine. But others supported the investigation. Starting on Monday, the campaign focuses on tariffs being issued by China , Canada, Mexico, and the European Union. (more...)
Trump Talks with Mexico’s President-Elect on Border, NAFTA Trump Talks with Mexico’s President-Elect on Border, NAFTA
- July 04, 2018

After the Trump administration in May slapped hefty steel and aluminum tariffs on its allies, Mexico hit back with $3 billion worth of retaliatory levies on United States goods. "I desire with all my soul to raise the greatness of our country on high". Pena Nieto said Sunday that the vote "should reaffirm us in our democratic vocation". (more...)
Oil falls as Saudi, Russian output rises
- July 04, 2018

He hopes that will keep prices low - and motorists happy with cheaper fuel - as he tries to force the Iranians out of the market. Jahangiri greeted Trump's comments with derision, saying: "They're begging the Saudis to raise their output so that if Iran's quota decreases nothing will happen to the markets". (more...)
Walmart pulls Walmart pulls "Impeach 45" T-shirts after Trump supporters threaten boycott
- July 04, 2018

There's also mens and juniors shirts that read "45 You're Fired", using Trump's facing line from his former show "The Apprentice". CafePress has had " Impeach Trump " shirts, caps and throw pillows available on Walmart.com in the past as well, and still offers anti-Trump items along with pro-Trump items. (more...)
Tesla storms past Model 3 production goal Tesla storms past Model 3 production goal
- July 03, 2018

Tesla more than doubled EV production in Q2 versus Q1, the automaker has confirmed today, with Model 3 cars rolling off the line - including the new tent facility - at a rate of more than 5,000 per week by the end of June 2018. "But some could be getting antsy, especially those who want a price closer to the base of $35,000", the news agency writes. Some employees are anxious the frenetic pace plus long hours could burn out workers. (more...)
Dell Deals Another Dandy, Going Public Once Again Dell Deals Another Dandy, Going Public Once Again
- July 03, 2018

VMware is the networking software company Dell acquired when it bought EMC . In a move to remove a complex layer of its business, Dell will exchange each share of VMware tracking stock DVMT.N for 1.3665 shares of its Class C common stock, or $109 per share in cash for a total cash consideration of not more than $9 billion. (more...)
Oil jumps as market anticipates United States sanctions on Iran Oil jumps as market anticipates United States sanctions on Iran
- July 03, 2018

North American oil stocks have fallen as an outage at Canada's Syncrude has locked in more than 300,000 barrels per day (bpd) of production. Saudi Arabia , the world's top oil producer, could pump as much as 11 million barrels of oil per day in July, according to Reuters . (more...)
Iran to allow private sector to export oil, beat USA sanctions Iran to allow private sector to export oil, beat USA sanctions
- July 03, 2018

Traders have also been watching United States oil production, which has surged by 30 percent over the last two years to 10.9 million bpd, absorbing some of the recent disruptions. Oil production, prices and politics require a delicate balance. Several refiners in the largest oil market are looking at alternative supplies from Saudi Arabia to Iraq after the White House said it won't offer extensions or waivers to United States allies. (more...)
LeBron James signs with the Los Angeles Lakers LeBron James signs with the Los Angeles Lakers
- July 03, 2018

Ibrahimovic is the third-most decorated active soccer player in the world with his 32 major trophies, and is one of just five active players with over 400 career goals. Using the stretch provision on Luol Deng's contract-Deng is owed almost $37 million over the next two years-would also give the Lakers more money to spend. (more...)
Cruise ship rescues crew member who went overboard near Cuba Cruise ship rescues crew member who went overboard near Cuba
- July 02, 2018

The U.S. Coast Guard is searching for a Norwegian Cruise Line crew member that went overboard near Cuba. The Miami Herald reported a steward saw the crew member. "Kudos to the Carnival Glory team". "We had a Coast Guard cutter join the search". Thankfully, the crew member was found by Carnival Glory and is reported to be in stable condition. (more...)
Amazon is helping entrepreneurs start delivery companies for its packages Amazon is helping entrepreneurs start delivery companies for its packages
- July 02, 2018

The start-up cost $10 thousand, but it's free to businesses founded by United States military veterans. But labor professors say the arrangement allows Amazon to reap the benefits of a vast delivery network without having to shoulder numerous risks and liabilities involved. (more...)
Trump claims Saudi Arabia will boost oil production Trump claims Saudi Arabia will boost oil production
- July 02, 2018

The curbs were meant to help drain a global oil glut, a goal that has largely been achieved, though supply disruptions are now adding pressure to prices. Iran is a major supplier of oil to countries across the globe including India and China. "They bring to bear economic pressure to separate the nation from the system. (more...)
Marketing Firm Exactis Exposes 340 Million Data Records in Breach Marketing Firm Exactis Exposes 340 Million Data Records in Breach
- July 01, 2018

The database did not appear to contain any financial information, Troia said, adding that he contacted the Federal Bureau of Investigation about his discovery. In response to the news, attorneys filed the first class action lawsuit against Exactis over the alleged breach on Friday . It claims to have an email database of 500 million consumer and 16 million business records. (more...)
Saudi King Said Will Boost Oil Output If Needed, Says White House
- July 01, 2018

Venezuela's production has fallen to 1.4 million barrels a day, about a million barrels a day less than it produced two years ago. He did not specify if the figure was barrels per day (bpd). Saudi Energy Minister Khalid al-Falih met with U.S. Secretary of State Mike Pompeo in Washington on Thursday to discuss energy security. Oil prices surged again on news that the USA was pressuring its allies not to import oil from Iran, lest they risk sanctions. (more...)
Swiss deposits rise on remittances scheme: Piyush Goyal Swiss deposits rise on remittances scheme: Piyush Goyal
- July 01, 2018

Since those record levels, this is only the third time when there has been a rise in Indians' money in Swiss banks - in 2011 (12 per cent), 2013 (43 per cent) and now in 2017 by 50.2 per cent - the maximum increase since 56 per cent way back in 2004. (more...)
China tries to defuse trade pressure, says world benefits China tries to defuse trade pressure, says world benefits
- July 01, 2018

The white paper defends China's policy. US gold futures GCcv1 fell 0.34 percent to $1,255.60 an ounce. The benchmark CSI300 Index .CSI300 and the Shanghai Composite Index . While the prospect of trade protectionism and tit-for-tat tariffs are raising serious fears for the world economy, the growth and inflation outlook is being further complicated by oil prices rising back above $75 per barrel, due to Washington pressuring its allies to halt Iranian imports. (more...)
USA crude oil inventories decrease further last week: API USA crude oil inventories decrease further last week: API
- July 01, 2018

Under these circumstances, Japanese oil wholesalers are trying to make sure that they can stably secure crude oil. "Last month, Iran exported 2.8 million barrels of crude oil and condensate per day", the Iranian official said. Russian company Lukoil has already confirmed it has put its Iran plans on hold ahead of the sanctions deadline. Zanganeh was also told if the deal was blocked by Iran, it may lead to the withdrawal of Russian Federation from the agreement, the sources said. (more...)
Goodbye, Geoffrey: Toys R Us closing its last stores Goodbye, Geoffrey: Toys R Us closing its last stores
- July 01, 2018

Santa Claus came early to the Toys R Us store in Raleigh, NC, on Friday, even as 800 Toys R Us stores across the country prepared to close their doors for good. The origin of the photo is unclear, but may have been staged and taken by a store employee. Meanwhile, five former Toys R Us executives, including former CEO David Brandon, shared $8.2 million in retention bonuses. (more...)
Amazon wants you to start a business to deliver its packages Amazon wants you to start a business to deliver its packages
- July 01, 2018

Amazon says "successful owners" can earn $300,000 in annual profit running a 40-vehicle delivery fleet. Start-up costs for a DSP business are as low as $10,000, and military veterans can apply to have their start-up costs reimbursed. The new program goes a huge step beyond the gig economy side-hustle that is Amazon Flex . Dave Clark, senior vice president of worldwide operations for Amazon .com, talks to reporters, Wednesday, June 27, 2018, in Seattle, at a media event for Amazon to ... (more...)