Business


Trump’s latest attack on Harley-Davidson makes absolutely no sense Trump’s latest attack on Harley-Davidson makes absolutely no sense
- July 04, 2018

Postal Service, and Boeing, which he accused of charging too much to manufacture a new Air Force One. The White House had no immediate comment. President Trump didn't name any motorcycle companies. A number of American companies have expressed concerns about Trump's tariffs, and have said that they could impact their business. It expects the tariffs to add an additional $100 million in costs on a full-year basis. (more...)
Trump threatens to leave WTO after European Union warning on auto tariffs
- July 04, 2018

Time to switch tactics, ' Scaramucci tweeted. 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. White House spokeswoman Lindsay Walters told Axios that Trump has asked for ideas on how to address "the unfair imbalance of tariffs that put the U.S.at a disadvantage". (more...)
U.S. looks for support on Iran crude embargo
- July 04, 2018

The Kingdom did not initially confirm Trump's tweets and the White House at first backed away from the comments. "US petroleum demand growth slowed significantly to 385,000 bpd year-on-year in April, compared with a growth of more than 730,000 bpd year-on-year in Q1", Barclays bank said, adding that this was mostly due to higher fuel prices. (more...)
European Union warns Donald Trump he risks $294bn trade tariff reprisals European Union warns Donald Trump he risks $294bn trade tariff reprisals
- July 04, 2018

That same state, which flipped for Trump in 2016, is also expected to lose $624 million in soybean sales after China issued sweeping tariffs in response to Trump. "When you're nearly 800 Billion Dollars a year down on Trade, you can't lose a Trade War!" Trump's 25 percent tariff on steel will hurt all American manufacturing dependent on economical steel. (more...)
Walmart under fire from conservatives for 'Impeach 45' shirts slamming Trump Walmart under fire from conservatives for 'Impeach 45' shirts slamming Trump
- July 04, 2018

A spokesperson for Walmart told Reuters that the items were sold by "third-party sellers" on its open marketplace website and were not "offered directly by Walmart". Apparel sold on Walmart's website sparks outrage for its sentiment against President Trump . The shirt was removed from the store's website after the Radio Television Digital News Association sent a letter to the company about the shirt, according to the group . (more...)
German interior minister 'offers to resign' over migrants German interior minister 'offers to resign' over migrants
- July 04, 2018

The CSU's hard line on migration comes amid a growth in support for the far-right Alternative for Germany (AfD) party in Bavaria, where state elections will be held in October. Over recent days, speculation had focused on the possibility of Merkel firing Seehofer if he went ahead unilaterally with his plan. He said that "there is an abundance of possibilities. (more...)
Reports Show Lopez Obrador With Landlside Win in Mexico Election Reports Show Lopez Obrador With Landlside Win in Mexico Election
- July 03, 2018

Lopez Obrador won a resounding victory in Sunday's presidential race. He takes office December 1. Mexican voters overwhelmingly backed Andres Manuel Lopez Obrador in Sunday's presidential vote , with at least 53 percent of voters casting their ballot for the leftist candidate. (more...)
Trump Warns WTO to Treat U.S. Properly or He Will Act Trump Warns WTO to Treat U.S. Properly or He Will Act
- July 03, 2018

President Donald Trump has drafted a new bill which would allow him to raise US tariffs at will, tearing up World Trade Organization (WTO) rules, according to leaked documents obtained by Axios . US officials in Geneva, home of the WTO, did not immediately respond to a request for comment on Monday. Trump said last week that the government would complete its study soon and suggested the United States would take action, having earlier threatened to impose a 20 percent tariff on all ... (more...)
Joel Embiid's last-ditch plea to LeBron after Warriors shocker Joel Embiid's last-ditch plea to LeBron after Warriors shocker
- July 03, 2018

Cousins joins a superforce, a four-time All-Star joining a team that had four All-Stars and has won three out of the past four championships. A new iteration was installed in 2014, upon James' return to Cleveland and since served as a mainstay of the downtown area. (more...)
Lyft adds bikes to its transportation services with Motivate acquisition Lyft adds bikes to its transportation services with Motivate acquisition
- July 03, 2018

Lyft bought the company behind Citi Bike. "Bikeshare is a natural extension of Lyft's core approach to improving transportation access and building community through offerings such as shared rides and the integration of public transit in our app", Lyft said in the announcement. (more...)
Mexico's Lopez Obrador claims win in presidential vote
- July 03, 2018

Some have drawn parallels between AMLO, who is 64 years old, and President Donald Trump. In the wake of the migration crisis on the US-Mexico border, Amlo has vowed that "anyone who migrates from Mexico will do so because they want to, not because they have to". (more...)
EU warns Trump: auto tariffs could lead to $300B retaliation
- July 03, 2018

Amid escalating transatlantic trade tensions, the European Union has sent a strong warning to US President Donald Trump about the real costs of putting tariffs on cars. The EU has imposed retaliatory tariffs on goods worth €2.8 billion ($3.27 billion), primarily on US-built motorcycles. The EU sent comments to the US for consideration in the Department of Commerce investigation into whether auto imports pose enough of a threat to USA national security to justify tariffs and ... (more...)
Amazon Prime Wardrobe Officially Launched for US Prime Members Amazon Prime Wardrobe Officially Launched for US Prime Members
- July 03, 2018

The items will take between four and six business days to arrive, since Amazon is not allowing two-day Prime shipping for Prime Wardrobe . Amazon has now opened up its one and two-hour delivery service to beer and wine in the Austin area, including some local offerings. (more...)
Mexico's AMLO Calls Trump 'Erratic and Arrogant'
- July 03, 2018

More than 18,000 government posts are up for grabs in Sunday's (July 01) vote, ranging from local governments to the presidency. Mexicans also voted for members of both houses of Congress and nine governors. He also promised to sell presidential planes and turn the presidential palace into a public park while increasing the salaries of lower-paid government workers. (more...)
President Trump Hopes For Good Ties With New President-Elect Of Mexico President Trump Hopes For Good Ties With New President-Elect Of Mexico
- July 03, 2018

Obrador says he'll seek a relationship of "friendship and respect" with the US. Lopez Obrador, meanwhile, said in an interview Monday he would speak with President Trump to try to "reach an understanding" on Trump's proposed border wall and other issues deeply dividing the two countries. (more...)
European Union gives stark warning to United States over auto tariffs
- July 03, 2018

Trump has criticized the European Union for having higher import taxes on cars and for its trade surplus with the United States, this includes a 10 percent tax on cars entering the EU compared with a 2.5 percent tax for cars entering the U.S. (more...)
India Has Back-Up Plans In Case Of Complete Iranian Oil Cut-off India Has Back-Up Plans In Case Of Complete Iranian Oil Cut-off
- July 03, 2018

In the face of the damage that did to U.S. -European relations, Hook and teams from the State Department and Treasury Department have been traveling to European and East Asian countries to shore up support for this new pressure campaign and try to persuade countries to reduce oil imports. (more...)
Axios: Trump Bill Would Give Him Unilateral Power to Ignore WTO Rules
- July 03, 2018

The proposed "United States Fair and Reciprocal Trade Act" would give the president unilateral power to renegotiate with individual countries or apply tariffs, bypassing global WTO rules for collective negotiation. Some have even suggested that a White House staffer was in on the joke while naming the draft bill, or even that it was a deliberate act of subversion. (more...)
Dell Technologies to buy out VMWare tracking stock Dell Technologies to buy out VMWare tracking stock
- July 03, 2018

Dell will use the dividend proceeds from VMware to facilitate the proposed transaction. The tech giant will return to public markets by buying out its tracking stock, DVMT , in a cash and share-swap deal valued at $21.7 billion, Dell said in a filing Monday. (more...)
LeBron James Signs With Lakers LeBron James Signs With Lakers
- July 03, 2018

LeBron James is signing with the Los Angeles Lakers on a four-year deal that will pay him $154 million. Speculation had been mounting over the National Basketball Association star's future after his player option with the Cavs expired over the weekend. (more...)
HTC to lay off nearly a quarter of its workforce
- July 02, 2018

After offloading 2,000 engineers to Google as part of a $1.1 billion deal with the search giant, HTC is now laying off 1,500 staff, or almost one-quarter of its total headcount, to cut more costs. HTC claims that the company's workforce will be more effective after the reorganization and optimization, which is expected to be completed by September this year. (more...)
Trump asks Saudi Arabia to increase oil production Trump asks Saudi Arabia to increase oil production
- July 02, 2018

Saudi Arabia, backed by non-member Russian Federation, had argued strongly in favor of increasing production as grumbles in major consumer countries like the United States, India and China have grown about higher prices. Japan's imports of USA oil are still tiny compared with total imports of around 3.2 million barrels a day in 2017. The sanctions implemented by the USA on Iran's oil industry will come into effect after a 180-day grace period that will end on November 4 this year. (more...)
European Union warns Trump: auto tariffs could lead to $300B retaliation
- July 02, 2018

European Commission spokesman Margaritis Schinas said the USA investigation into the possibility of auto tariffs "lacks legitimacy, factual basis and violates worldwide trade rules", just like last month's US tariffs on steel and aluminum imports. (more...)
Trump says he's not planning to pull out of WTO Trump says he's not planning to pull out of WTO
- July 02, 2018

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. After announcing tariffs on steel and aluminum imports in early March, the US and China have been trading retaliatory punches. The leaders of the European Union gathered at the EU Council said that rebalancing measures could be approved after the U.S. (more...)
GM may slash American jobs because of Trump tariffs GM may slash American jobs because of Trump tariffs
- July 02, 2018

Mr Trump asked the department to determine the effect of imports of cars and vehicle parts on national security. General Motors , the country's biggest automaker with about 110,000 USA employees, warned the Trump administration's tariffs threaten to undermine its competitiveness and could lead to " a smaller GM ". (more...)
Trump's Tweet on Deal With Saudi King Makes Oil Prices Plummet
- July 02, 2018

Earlier this year, to the chagrin of European partners, Trump said he would pull the United States out of the Iran nuclear agreement secured by world powers. "OPEC is and they better stop it because we're protecting those countries, many of those countries". "We're not granting waivers", the official said. (more...)
Canada tariffs on $12.6B of US goods take effect
- July 02, 2018

Speaking Sunday in Leamington, Ontario, Prime Minister Justin Trudeau thanked Canadians for standing united against President Donald Trump's sanctions. midterm elections. On Friday Trudeau spoke with U.S. President Donald Trump by telephone, reiterating that Canada has had "no choice" but to take countermeasures against the U.S. (more...)
Iran vice president says private sector to buy, export oil
- July 02, 2018

Oil prices had risen on Friday on worries that United States sanctions against Iran would take away significant volumes of crude oil from world markets while oil demand worldwide increases . The fall came as the Russian Energy Ministry said on Monday that the country's oil output increased to 11.06 million barrels per day in June from 10.97 million barrels per day in May. (more...)
Tesla registers 6,100 new Model 3 VINs amid continued production push Tesla registers 6,100 new Model 3 VINs amid continued production push
- July 02, 2018

Despite originally touting the Model 3 as a $35,000 vehicle, Tesla has yet to begin building that basic version and instead is now building a higher-priced version. As The Associated Press reports, "Last summer, when the first Model 3s began rolling off the assembly line, Musk promised to build 5,000 per week by December and 10,000 per week in 2018". (more...)
Norwegian crew member who went overboard found 22 hours later Norwegian crew member who went overboard found 22 hours later
- July 02, 2018

A Norwegian crew member who went overboard was found alive 22 hours later by a Carnival cruise ship. The Getaway left Miami last Sunday, June 24th, for a one week cruise which included ports in Mexico, Belize and Honduras. The U.S. Coast Guard posted the following tweet after the successful rescue operation. But on Sunday morning, the unidentified crew member was spotted in the ocean by a cabin steward on board the Glory as it sailed by Cuba. (more...)

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