Business


China trade surplus with United States widens unexpectedly China trade surplus with United States widens unexpectedly
- July 13, 2018

China's June trade grew by double digits amid mounting tensions with Washington but Beijing warned its exporters to face "rising instabilities and uncertainties". Exports rose 11.3 per cent over a year earlier to $216.7 billion, down from May's 12.6 per cent growth, customs data showed Friday. Investors fear a prolonged trade battle with the United States could harm business confidence and investment, disrupting global supply chains and harming growth in China and the rest of the world. (more...)
Trump rattles North Atlantic Treaty Organisation, knocking its value and assailing Germany Trump rattles North Atlantic Treaty Organisation, knocking its value and assailing Germany
- July 13, 2018

A senior Czech official said some of Trump's statements have been "concerning" but are "not that surprising". NATO , a pillar of the global order, emerged from a two-day confrontation with President Donald Trump on Thursday intact but distracted and shaken, a further challenge to the alliance as it faces an expansionist Russian Federation and growing authoritarianism among some of its own members. (more...)
Chequers’ Brexit White Paper explained in 300 words Chequers’ Brexit White Paper explained in 300 words
- July 13, 2018

But the plan has infuriated fervent Brexit supporters, who think it would limit Britain's ability to strike new trade deals around the world. It comes just days after Mr Trump declined to say whether Mrs May should remain in post, said he had "always liked" Boris Johnson , who quit as foreign secretary over the Chequers agreement, and described the United Kingdom as being in "turmoil". (more...)
Majority of Americans say Trump ‘not tough enough’ on Russian Federation
- July 13, 2018

The alliance, which sees an attack on one member as an attack on all, was set up at the height of the Cold War, as a counterbalance to the Warsaw Pact between the Soviets and their satellite states. "Germany is totally controlled by Russia because they will be getting 60-70 percent of their energy from Russia and a new pipeline", Trump said to reporters Wednesday morning, calling the alleged dependence on Russian energy "inappropriate". (more...)
Twitter outrage - who is buying frozen rice? Twitter outrage - who is buying frozen rice?
- July 13, 2018

It can contaminate a wide variety of food types, including meat and meat products, dairy products both unpasteurised and pasteurised, fresh and frozen produce and ready-to-eat products. This after an ST6 strain of listeria was found at an Enterprise Foods facility in Polokwane. The Victorian, whose age and gender have not been supplied by the state's health department, was also being treated for another serious illness when they died. (more...)
Bank of Canada raises its benchmark interest rate to 1.5% Bank of Canada raises its benchmark interest rate to 1.5%
- July 13, 2018

Business loans, student loans, lines of credit and home equity lines of credit will cost more to service. As widely anticipated by economists, the Bank of Canada raised its trend-setting policy rate to 1.5 per cent, up from 1.25 per cent on Wednesday. (more...)
Crude Oil Benchmark Brent Sees Biggest One-Day Fall In Two Years Crude Oil Benchmark Brent Sees Biggest One-Day Fall In Two Years
- July 12, 2018

The sell-off intensified after news of a fall in USA crude oil inventories failed to reverse market sentiment. "Trade concerns have bitten today", said Michael McCarthy, chief markets strategist at CMC Markets. Prices were further pressured after U.S. Secretary of State Mike Pompeo said on Tuesday that Washington would consider requests from some countries to be exempt from sanctions due to go into effect in November to prevent Iran from exporting oil. (more...)
Will Trump tweet on Pfizer cut short the pharma rally? Will Trump tweet on Pfizer cut short the pharma rally?
- July 12, 2018

Specifically, the company boosted list, or wholesale, prices on more than 40 medicines; more than 100, if different dosages were counted. Across the industry, Wells Fargo found, companies rose drug prices on 63 products and lowered prices on 64 products in June. (more...)
Amir attends inauguration ceremony of Turkish President Amir attends inauguration ceremony of Turkish President
- July 12, 2018

Assuming the new executive presidency he has long fought to establish, Erdogan earlier took the oath of office in parliament before addressing global leaders gathered at the presidential palace in Ankara . Mevlut Cavusoglu will remain as Turkey's foreign minister and Suleyman Soylu as the country's interior minister. The issue is still polarising in Turkey. (more...)
'There are worries ahead': Experts react to Bank of Canada's rate hike
- July 11, 2018

It was the bank's fourth increase over the last 12 months and the first time the rate has been this high since December 2008. However, the central bank said it would take a gradual approach to future rate increases amid mounting tensions over trade with the USA, among other uncertainties. (more...)
USA and China Enter into Trade War USA and China Enter into Trade War
- July 11, 2018

German Chancellor Angela Merkel and Chinese Prime Minister Li Keqiang are holding talks on closer economic cooperation in Berlin on Monday as the two countries seek a coordinated strategy in response to the USA administration's protectionist agenda. (more...)
INTERNATIONAL - Iran slams Trump's 'interfering' remarks on OPEC INTERNATIONAL - Iran slams Trump's 'interfering' remarks on OPEC
- July 11, 2018

South Korea will not lift any Iranian crude and condensate in July for the first time since August 2012 amid US pressure to cut all imports of Iranian oil from November, three sources familiar with the matter said on Friday. On Saturday, a petroleum ministry official told state-run IRNA news agency that the USA sanctions against Iran's oil exports will weaken the OPEC. He said that Iran has helped India significantly on strategic issues like energy and connectivity yet India has not kept up ... (more...)
USA fires next shot in China trade war USA fires next shot in China trade war
- July 11, 2018

The office will hear public comments on the plan and will reach a decision after August 31, according to a senior administration official who briefed reporters on condition of anonymity. China immediately retaliated with duties on the same value of USA goods, including soybeans and cars. The press offices for the U.S. Trade Representative's office and White House didn't immediately comment when Bloomberg News contacted them. (more...)
Erdogan vows to advance Turkey under new governance system
- July 10, 2018

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 International Criminal Court. (more...)
Family: Woman on oxygen dies after power cut off to her home Family: Woman on oxygen dies after power cut off to her home
- July 10, 2018

Daniel's granddaughter Mia offered a further harrowing insight into her suffering, telling NJ.com : 'She was trying to catch her breath - she was gasping for air. A PSE&G utility truck finally arrived Friday morning, but Daniels had already died 16 hours earlier, her daughter said. A source involved in the rescue mission who saw two of the four boys walk out of the cave told Reuters that they looked exhausted but healthy, adding that one even looked "vivacious and fresh". (more...)
Timehop Data Breach Affects 21 Million Users Timehop Data Breach Affects 21 Million Users
- July 09, 2018

Timehop, a mobile app that surfaces old social media posts from the same day but from previous years, has announced a security breach affecting its entire userbase of over 21 million users. For now, by way of explanation, it writes: "There is no such thing as flawless when it comes to cyber security but we are committed to protecting user data". (more...)
'Please Stop': Iran Begs Trump to Stop 'Indecent' Tweeting About Oil Prices 'Please Stop': Iran Begs Trump to Stop 'Indecent' Tweeting About Oil Prices
- July 09, 2018

Crude oil inventories at Cushing, Oklahoma, the delivery point for USA crude futures, have fallen to their lowest in 3-1/2 years, data showed last week. He added that his refinery had cancelled US crude imports and would switch to Middle East or West African supplies instead. "We expect the Chinese government to impose tariffs on (US) crude", the executive said, declining to be named as he was not authorised to speak to media. (more...)
May secures cabinet backing for 'soft Brexit' May secures cabinet backing for 'soft Brexit'
- July 09, 2018

I look forward to White Paper. He said the proposal could be worse than Britain leaving the bloc with no deal. "As with eggs: An egg that is very softly boiled isn't boiled at all". Speaking ahead of the Eastern Partnership summit, Mrs May said: "The summit here today is all about taking stock and about looking ahead to see how we can tackle the shared challenges together, both in security and development". (more...)
Sorry Donald, no one is going to 'win' your trade war Sorry Donald, no one is going to 'win' your trade war
- July 09, 2018

Industry lobbying efforts appear to have failed to convince the Trump administration to put off Friday's 25 percent tariffs on $34 billion worth of mostly tech and manufacturing goods from China. The negative impact on China's gross domestic product growth - and Chinese consumer prices - is also expected to be minimal. The products, all sold on Chinese e-commerce platforms, ranged from pet food to mixed nuts and whiskey. (more...)
Boris Johnson quits to add to pressure on May over Brexit Boris Johnson quits to add to pressure on May over Brexit
- July 09, 2018

Friday's agreement, which came after marathon talks at the prime minister's country retreat, would "make the supposed control by Parliament illusory rather than real", he added. His replacement will be announced shortly. But leading pro-Brexit legislator Jacob Rees-Mogg said, "I don't think a no-confidence vote is immediately in the offing". (more...)
The last straw? Starbucks pledges to eliminate plastic straws globally by 2020 The last straw? Starbucks pledges to eliminate plastic straws globally by 2020
- July 09, 2018

The company will broaden the manufacture and use of what some in social media have dubbed the " adult sippy cup ". Ice-blended Frappuccinos, meanwhile, will be served with straws made of paper or compostable plastic. McDonald's shareholders voted down a proposal requesting a report on plastic straws in May. "Metal straws can be risky for people with neurological conditions such as Parkinson's whereas reusable plastic straws present hygiene concerns to people with specific health conditions". (more...)
Seattle becomes first major US city to ban straws Seattle becomes first major US city to ban straws
- July 09, 2018

It affects " all food service businesses, including restaurants, grocery stores, delis, coffee shops, food trucks, and institutional cafeterias". "Plastic pollution is surpassing crisis levels in the world's oceans, and I'm proud Seattle is leading the way and setting an example for the nation by enacting a plastic straw ban", Mami Hara, the general manager of Seattle Public Utilities, told KOMO News . (more...)
Thai cave rescue: Operation resumes for remaining 9 who are trapped Thai cave rescue: Operation resumes for remaining 9 who are trapped
- July 09, 2018

By the time he posted the test drive videos, four boys had already been rescued and the operation was suspended for the night. An Australian doctor who is part of the global team of rescuers checked the health of the boys Saturday to decide who should be brought to the surface first. (more...)
ZTE name new CEO in bid to lift US ban ZTE name new CEO in bid to lift US ban
- July 09, 2018

The new CEO reportedly is Xu Ziyang, the former head of ZTE's Germany branch. Probably following the directive of US President Donald Trump several weeks ago, it looks like the US government is giving Chinese tech brand ZTE a little room to breathe. (more...)
Netflix Is Testing A New Netflix Is Testing A New "Ultra" Plan And Here's What That Means
- July 09, 2018

So Netflix wants to see how much users value HDR vs. four-stream access. As more homes get 4K Ultra HD TVs capable of displaying HDR content - about 31 percent of USA homes now have 4K Ultra HD TVs, according to the Consumer Technology Association - some Netflix subscribers would be willing to pay more for the best quality video in the Ultra plan. (more...)
Canada trade deficit expands as imports rise, exports edge down
- July 08, 2018

Exports increased $84.5 billion or 8.8 percent. Economists surveyed by Bloomberg News had anticipated the trade deficit would widen to $2.2 billion, from $1.9 billion in April. "Indeed, the first five months of the year C$24.9 billion worth of passenger cars and light trucks were shipped from Canada to the world, 14.6% less than in the same period last year". (more...)
U.S. job growth was likely solid in June despite trade risks U.S. job growth was likely solid in June despite trade risks
- July 08, 2018

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. Economists have estimated that 195,000 jobs were added last month and that the unemployment rate remained at an 18-year low of 3.8 per cent, according to data provider FactSet. (more...)
Region's unemployment rate up Region's unemployment rate up
- July 08, 2018

Despite that, Northeast B.C.'s unemployment rate was the second-highest of any region in B.C. for the second straight month. The federal agency reported on Friday that the rate was up from 6.2 per cent the previous month. Employment increased in Ontario, Saskatchewan, and Manitoba. By sector, the numbers showed goods-producing industries added 46,600 positions in June thanks to job-creation boosts in construction, natural resources and manufacturing. (more...)
Hispanic Unemployment Falls to LOWEST LEVEL in US HISTORY — RECORD SMASHED
- July 08, 2018

Buoyant job creation: The U.S. economy continues to be one of the most dynamic job creators in the world, adding 213,000 jobs in June (the median estimate of analysts surveyed by Bloomberg called for a gain of 195,000). Looking further into the report, the unemployment rate rose to 4 percent after holding steady at 3.8 percent, its lowest level since 1969. The increase is above the gains required for the accommodation of the population growth and about 20,000 more compared to last year's ... (more...)
Fed officials say rate hikes could slow growth Fed officials say rate hikes could slow growth
- July 08, 2018

USA central bankers discussed whether recession lurked around the corner and expressed concerns global trade tensions could hit an economy that by most measures looked strong, minutes of the Federal Reserve's last policy meeting on June 12-13 released on Thursday showed. (more...)

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