Markets

Author: 0 Elon Musk tweets he may take Tesla private

A deal at $420 per share represents a 22.8% premium to Tesla's closing price on Monday, valuing the company at about $72bn. Tesla did not immediately respond to a request for confirmation or clarification. Shares in Tesla were up sharply following the tweet, trading at $363 at the time of writing. Musk has had feuds with regulators, critics and reporters, and questions remain about Tesla's production and manufacturing difficulties, long-term demand for its cars and uncertainty over funding.

Markets Apple is first public company worth $1 trillion
Author: 0 Apple is first public company worth $1 trillion

The company's share jumped by more than 8% this week after it reported impressive quarterly earnings on Tuesday, driven largely by increase in sales of iPhones. Apple's market capitalization - a common financial measure of worth which multiplies the number of shares by the share price - makes the company worth more than the economies of, for example, Saudi Arabia, Switzerland and Taiwan.

Markets United States and European Union agree to ease tensions over trade disagreements
Author: 0 United States and European Union agree to ease tensions over trade disagreements

China has announced retaliatory tariffs on various USA agricultural products, including soybeans, grains, meats and dairy products, as a response to Trump's plan to impose $50 billion in tariffs on Chinese imports. On March 1 , Trump announced that the USA would be imposing a 25 percent tariff on steel imports and a 10 percent tariff on all aluminum imports.

Markets German industry warns USA auto tariffs not completely off table yet
Author: 0 German industry warns USA auto tariffs not completely off table yet

The largest economic relationship anywhere in the world. In addition, Germany benefits from favorable trade terms, including higher tariffs on auto imports from the U.S. "To which my response is "I don't need a short-term band-aid for this wound you've opened up" said Kenny. The U.S. Department of Agriculture announced $12 billion in aid this week to help farmers hurt by retaliation to the Trump administration's tariffs on foreign goods.

Markets Donald Trump set for tense trade talks with EU's Jean-Claude Juncker
Author: 0 Donald Trump set for tense trade talks with EU's Jean-Claude Juncker

The president is meeting with European Commission President Jean-Claude Juncker on Wednesday. "This is a short-term solution to allow President Trump time to work on long-term trade deals to benefit agriculture and the entire US economy", said Sonny Perdue , the secretary of agriculture, in a statement .

Markets China: US trade policies are ‘confidence killer’ for global economy
Author: 0 China: US trade policies are ‘confidence killer’ for global economy

Speaking at a news conference, he said: "If China wishes to open up, it can do so". "The United States publicly ignited a trade war on July 6 and escalated it on July 11", Gao said. The WTO has "not worked well, or not as well as it was meant to work when China was brought into the WTO in the year 2000", Treasury Undersecretary for International Affairs David Malpass said at an event in Washington on Monday.

Markets UK PM May Threatened Rebels with A National Election
Author: 0 UK PM May Threatened Rebels with A National Election

Pro-EU Labour MP Chuka Umunna hit out at Labour Brexiteers who opposed the customs union amendment, saying: "It's very disappointing and our communities will question why Labour MPs are jeopardising jobs". The entire trade bill passed by 31 votes and now moves to the House of Lords for further scrutiny before returning to the Commons for a final vote.

Markets U.S. lifts ban on high-tech suppliers selling to China’s ZTE
Author: 0 U.S. lifts ban on high-tech suppliers selling to China’s ZTE

The ban stripped ZTE of its access to crucial US -based suppliers, including Qualcomm. The company paid $1 billion of the penalty and put $400 million in escrow at a US bank to satisfy the requirement, the department said . ZTE is now allowed to receive shipments from its American suppliers, according to a notice published on the Bureau of Industry and Security website last week.

Markets China's foreign trade up 7.9 pct in H1, surplus down
Author: 0 China's foreign trade up 7.9 pct in H1, surplus down

China's global trade surplus in June narrowed by 10.9 per cent to 41.6 per cent. For starters, countries have different inherent resources: some have oil, others copper; some grow bananas, others wheat. Exports climbed to US$42.62 billion, also a high, the Customs administration said yesterday. Beyond some point, the potential benefits of wider trade between equally rich countries inevitably decline.

Markets Iran Warns Trump's Oil Ban Is 'Self Harm'
Author: 0 Iran Warns Trump's Oil Ban Is 'Self Harm'

Oil prices fell on Thursday after US President Donald Trump sent a tweet demanding that OPEC reduce prices for crude. In addition to cutting prices, Saudi Arabia told OPEC it pumped about 10.5 million barrels of crude a day last month as the kingdom sought to cap rallying prices by ramping up output, according to people familiar with the matter.

Markets Walmart sells shirts saying impeach Trump and 'Hillary for Prison'
Author: 0 Walmart sells shirts saying impeach Trump and 'Hillary for Prison'

Walmart has received complaints on social media after it was found that the retail giant sold clothing and paraphernalia promoting the impeachment of President Donald Trump . The shirts that come in several shades - plus similar baby onesies and even frisbees - have the twitter-sphere in a frenzy and spurred a grassroots call to boycott the world's biggest retailer.

Author: 0 Iran vows to foil U.S. bid to block oil exports

Shortly after, the White House backtracked on Trump's statement, saying that Riyadh is ready for measures aimed at stabilizing the oil market. The development came days after the oil-rich Persian Gulf state, which is the world's largest oil exporter, agreed to substantially raise production.

Markets Anonymous man buys $1 million worth of Toys 'R' Us inventory
Author: 0 Anonymous man buys $1 million worth of Toys 'R' Us inventory

In March, Toys R Us announced it was shuttering its remaining stores for good after 70 years. America's last remaining Toys "R" Us stores will close for good today , after a final Friday of clearance sales. Toys R Us' troubles have also shaken some big toy makers like Mattel and Hasbro. Retailers like Walmart and Target were expanding their toy aisles to fill the hole, while Party City is opening 50 pop-up toy shops this fall.

Markets Pipeline outages: Nigerian oil output takes a plunge
Author: 0 Pipeline outages: Nigerian oil output takes a plunge

With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! Russian Federation and Saudi Arabia, the leaders and largest producers of the non-OPEC and OPEC producers in the deal, have started to hint that they could reverse some of the cuts "to ease consumer and market anxiety", and reports have it that the production boost could be as much as 1 million bpd.

Markets Supreme Court rules U.S. states can tax goods sold online
Author: 0 Supreme Court rules U.S. states can tax goods sold online

Susana Martinez past year - but lawmakers from both political parties have described the measure as a fairness issue that could help local businesses. The high court on Thursday overturned a 1992 ruling that a retailer must have a physical presence in a state to collect tax from buyers in that state.

Markets Germany made 2.9B euros from Greek debt crisis
Author: 0 Germany made 2.9B euros from Greek debt crisis

Greece expects euro zone finance ministers to deliver on promised debt relief this week so that it can at last plan its financial future "like any ordinary country", the government spokesman said on Wednesday. Greece's euro-area creditors struck a landmark deal to ease repayment terms on some of the nation's mountain of debt and clear the way for the country to exit the lifeline that's kept it afloat since 2010.

Markets Erdogan declared winner of Turkey presidential polls
Author: 0 Erdogan declared winner of Turkey presidential polls

As of 22.10 p.m. local time with almost 30 percent of ballot boxes opened, 59.3 percent of Turkish expats voted for Erdoğan, according to state-run Anadolu Agency. Erdogan, who has been in power since 2003, had faced a more robust, united opposition than ever before. One party supporter, Nejdet Erke, said he had been "waiting for this emotion" since the morning.

Markets Dow Jones falls 287 points after Trump threatens Chinese tariffs
Author: 0 Dow Jones falls 287 points after Trump threatens Chinese tariffs

On Monday President Donald Trump threatened tariffs on almost all of China's products shipped to the United States unless Beijing agrees to sweeping trade concessions. The ministry said it would fight back with "quantitative and qualitative" measures, suggesting Beijing's countermoves could go beyond tariffs, deepening the rift between the two countries.

Markets Trump falsely claims exoneration from report
Author: 0 Trump falsely claims exoneration from report

The IG report did not address whether Strzok's political views affected the Russian Federation investigation. Goelman said that Strzok was not willing to use his official position to affect Trump's chances of being elected and that "his political conviction that a Trump presidency would be disastrous for American national security is not based on his bias, it was based on information that was available to him, and his perspective on American national security".

Markets Rent is rising, wages are not
Author: 0 Rent is rising, wages are not

Workers earning minimum wage would have to work 74 hours per week throughout the year to afford a two-bedroom apartment. The report , " Out of Reach ", said the 2018 national housing wage is $22.10 ($45,986 annually) for a modest two-bedroom rental home and $17.90 ($37,232 annually) for a modest one-bedroom rental home.

Markets China ‘ready to hit back’ at Donald Trump’s tariffs
Author: 0 China ‘ready to hit back’ at Donald Trump’s tariffs

As Trump prepares to impose the new tariffs on China , there is already evidence that his program is having a negative impact on some areas of industry and agriculture in Europe. Trump has long vowed to fulfill his campaign pledge to clamp down on what he considers unfair Chinese trading practices. Wall Street has viewed the escalating trade tensions with wariness, fearful that they could strangle the economic growth achieved during Trump's watch and undermine the benefits of the tax cuts ...

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