Business

Business European Union warns Trump with legal proceedings at the WTO over trade tariffs
Author: 0 European Union warns Trump with legal proceedings at the WTO over trade tariffs

It is unlikely that Trump will ultimately pull the United States out of the WTO , the report said, and White House officials said there was no plan to do so. The report comes in the midst of a looming trade war between the US and China. Trump's tariffs and trade rhetoric continue to shake up the business world on a regular basis - with the latest major development being Harley-Davidson's decision to move their manufacturing operation overseas.

Business Tariffs might force GM into job cuts
Author: 0 Tariffs might force GM into job cuts

After learning about the news, Donald Trump promptly reacted via Twitter , accusing Harley Davidson of "surrendering", and claiming that the move will be the "beginning of the end" for the famous Wisconsin-based motorcycle maker. The Commerce Department planned to wrap up its investigation into automotive imports by late July or August. "Increased import tariffs could lead to a smaller GM , a reduced presence at home and risk less - not more - U.S.

Author: 0 Iran vice president says private sector to buy, export oil

It comes as Mr. Trump pulled the US out of Tehran's nuclear deal with world powers in May. The White House later walked back the president's comments, saying the king said his country can raise oil production if needed. Asked if someone was manipulating oil markets, Trump said: "OPEC is and they better stop it because we're protecting those countries, many of those countries".

Business Canada imposes retaliatory tariffs on $12.5B of USA goods
Author: 0 Canada imposes retaliatory tariffs on $12.5B of USA goods

Trudeau on Sunday spoke in Leamington, Ontario, where he thanked Canadians for standing united against President Donald Trump's sanctions. If Trump steps up his attacks on Canada's economy and imposes a 25 percent tariff on automobiles as threatened, it would lead to "carmageddon", Automotive Parts Manufacturers Association president Flavio Volpe told a Canadian House of Commons committee hearing on Tuesday.

Author: 0 Saudi Arabia "Has To Put Out More Oil", Says Donald Trump

Trump, who is spending the weekend at his golf property in New Jersey , said in a tweet on Saturday that Saudi Arabia's King Salman bin Abdulaziz Al Saud had agreed to produce more oil. "Absolutely", the president responded when asked if the US would sanction European countries that do business with Iran. Despite the relief from Saudi Arabia and Russian Federation, oil markets remain tense because of unplanned outages from Canada to Venezuela and Libya.

Business Amazon is helping entrepreneurs start delivery companies for its packages
Author: 0 Amazon is helping entrepreneurs start delivery companies for its packages

Right now, FedEx , UPS and the U.S. Postal Service handle their deliveries, but Amazon says in a few years those services won't be able to keep up with the company's demand. "Having that kind of control and that kind of income opportunity for your family is something that many people are going to love and want to be a part of".

Business Saudi Arabia persuaded to help offset high oil price
Author: 0 Saudi Arabia persuaded to help offset high oil price

Later on Saturday, the Saudi SPA news agency also reported about the conversation between Trump and Salman but has not mentioned the agreement announced by Trump. Saudi Energy Minister Khalid Al-Falih indicated the group's action would add almost 1 million barrels a day to the market. "Russian Federation could increase its output by 300,000 bpd, while others [Kuwait, the UAE and Iraq] increase by 300,000 bpd", Iradian said.

Business Adidas says certain customers may have been impacted by data breach
Author: 0 Adidas says certain customers may have been impacted by data breach

Adidas said it has "no reason to believe" that credit card information was exposed in the breach . The revealed information included the usernames, hashed passwords and email addresses of MyFitnessPal users. Credit-reporting agency Equifax earlier this year added 2.4 million Americans to its initial count of 145.5 million impacted by a data breach last year.

Business A New Data Leak Reportedly Exposed 230 Million Americans' Personal Information
Author: 0 A New Data Leak Reportedly Exposed 230 Million Americans' Personal Information

While the files did not contain any financial information or social security numbers, they did hold wildly personal information such as interests, habits, and the number, age, and gender of any children of the individual. However, Troia said that other personal details may have been exposed. Adidas announced this week that it recently discovered a data breach that may have exposed data belonging to American consumers.

Business Trump urges Saudis to raise oil output 'by two million barrels'
Author: 0 Trump urges Saudis to raise oil output 'by two million barrels'

The Saudi Press Agency said Trump had called Salman and the two highlighted "the necessity of doing efforts in order to preserve the stability of the oil market and the global economy growth". Prices have also increased due to the persisting US-backed troubles in Venezuela, as well as with the unrest in Libya over control of that country's oil infrastructure.

Business China defends trade record, promises more opening
Author: 0 China defends trade record, promises more opening

Markets have been pressured by sharp losses in China, where blue chips .CSI300 were near 13-month lows. Beijing is expected to issue a new "negative list" this week, setting out which sectors are open to foreign investors, which are open with conditions and which are shut.

Business United States oil prices hit a four-year high over Iran fears
Author: 0 United States oil prices hit a four-year high over Iran fears

Moreover, gasoline reserves increased by 1.156 million barrels, and distillate stocks increased by 15,000 barrels. Last month President Donald Trump withdrew the United States from the landmark Iran nuclear deal, re-imposing USA sanctions that had been suspended in return for curbs on Tehran's nuclear programme.

Business US Iran deadline could push oil prices even higher
Author: 0 US Iran deadline could push oil prices even higher

Production problems at one of Canada's largest oil sands facilities drove front-month United States crude to its highest premium above second-month futures since 2014. Effectively Saudi Arabia is doing unilaterally what last week's OPEC meeting failed to collectively by assuring the world of a major production boost, thereby pushing the price of oil lower, as Trump had been demanding.

Author: 0 Donald Trump claims on Twitter that Saudi Arabia will boost oil production

U.S. President Donald Trump on Saturday said he asked Saudi Arabia to significantly boost its oil production to bring down crude prices. Last week, members of the Organization of the Petroleum Exporting Countries, agreed to pump one million barrels more crude oil a day, but summer usually leads to a demand for oil in the US, in turn pushing up prices.

Business Amazon starting deliveries with Amazon-branded vans
Author: 0 Amazon starting deliveries with Amazon-branded vans

The catch? Besides the fact that Amazon Delivery Service Partners will be responsible for recruiting and hiring their own drivers (and ultimately managing the business), those Amazon-branded delivery vans can only be used to deliver packages for Amazon.

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

A picture of Geoffrey the Giraffe leaving Toys "R" Us is pulling on the heartstrings of former Toys "R" Us kids as the chain closes for good Friday. Even as stores enter their final days of the liquidation sale, toy expert Jim Silver, the founder and editor in chief of popular toy review website TTPM.com, isn't convinced that the Toys R Us story is over.

Business Rupee recovers from all-time low, regains 18 paise
Author: 0 Rupee recovers from all-time low, regains 18 paise

A weaker currency supports exports by making products appear cheaper to worldwide buyers. India's foreign-currency reserves have fallen in eight of the nine weeks to 15 June, suggesting the central bank has been intervening to stem the pace of the currency's decline.

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