Thursday July 19-th, 2018

OPEC to boost oil production by 1 million barrels per day OPEC to boost oil production by 1 million barrels per day

He's blamed the cartel for recent increases in oil prices, which he argued have been artificial and fueled simply by countries' desires to get more money. Non-OPEC countries like Russian Federation had agreed in 2016 to participate in OPEC's effort...

OPEC Agrees to Boost Oil Output

The production increase will partly undo a 1.2 million barrel cut Opec agreed on in late 2016 that has helped push up the price of oil. Oil hit almost $80 per barrel last month, sending gasoline prices in the United States above $3 per gallon in m...

Argentina, Saudi Arabia: Countries Added to MSCI Emerging Market Index Argentina, Saudi Arabia: Countries Added to MSCI Emerging Market Index

Khalid al-Hussan was speaking to Reuters after MSCI said it would include the Tadawul, as the exchange is known, in its emerging markets benchmark, a move that could draw as much as $45 billion of new capital into the kingdom. Political tensions an...

Supreme Court ruling lets states collect sales tax from online purchases Supreme Court ruling lets states collect sales tax from online purchases

Wayfair , by a 5-4 decision. With this ruling look for more states and local governments to push for taxes on online physical and digital sales. As a result, states argued they would lose millions in sales tax each year. "New Hampshire's lack of ...

Uber Wants More of Its Drivers to Use Electric Cars Uber Wants More of Its Drivers to Use Electric Cars

The ride-hailing service on Tuesday launched its EV (electric vehicle) Champions pilot program - a scheme to encourage drivers to ditch their fossil fuel-burning cars in favour of electric-powered ones , in seven cities (Austin, Los Angeles, Montrea...

Iran, Saudi oil ministers meet to avert showdown Iran, Saudi oil ministers meet to avert showdown

Pradhan said at an OPEC conference in Vienna. "An initial increase of between half a million and a million barrels is expected to be agreed which will be welcomed by Trump who has been targeting OPEC as of late", Craig Elam, senior markets anal...

Tariffs on 29 U.S. goods to be hiked after 45 days Tariffs on 29 U.S. goods to be hiked after 45 days

As per UN COMTRADE-WITS data sourced by the government, United States imports steel items worth approximately $795 million and aluminium products worth $424 million from India. As per the list India submitted to the WTO, it had proposed to hike custo...

How will the US-China trade war impact South Africa? How will the US-China trade war impact South Africa?

Separately it is also pursuing the case with the World Trade Organisation, arguing that the White House's reasons for the tariffs - that the glut of steel and aluminium poses a security threat - are not valid. Commerce Secretary Wilbur Ross told br...

European Union slaps tariffs on United States as trade war erupts European Union slaps tariffs on United States as trade war erupts

In trade wars, there tend to many casualties and few winners. Mexico put tariffs on American products ranging from steel to pork and bourbon two weeks ago. "The Irish whiskey industry has been a major beneficiary of global free trade and EU-led f...

Oil prices rise on uncertainty ahead of OPEC meeting Oil prices rise on uncertainty ahead of OPEC meeting

The Saudi proposal involves a complex calculation based on how much the group has cut production beyond the initial target of 1.8 million barrels a day set in 2016, the delegates said , asking not be named discussing private meetings. Venezuela's oi...

Ernst: Trump tariffs on China are a tax on farm families Ernst: Trump tariffs on China are a tax on farm families

Investors are also assessing the impact of tightening monetary policy by central banks after the US Federal Reserve raised interest rate last week and the European Central Bank said it planned to end its bond-purchase program at year-end.

President Trump doubles down on immigration amid backlash President Trump doubles down on immigration amid backlash

Mr Seehofer proposed last week to offer power to turn away undocumented migrants at the border if they have already been registered in another European Union country. But at same time, he made it clear that re is no "automatism", that is to say tha...

Saudi Arabia: Deal can be done this week to boost oil supply Saudi Arabia: Deal can be done this week to boost oil supply

Speaking at the same event in Vienna , Iranian Oil Minister Bijan Namdar Zanganeh reiterated his country's resistance to hiking oil output and accused Trump of trying to politicise OPEC. " Iran rejected a potential compromise, saying it won't sup...

Audi CEO arrested over diesel scandal Audi CEO arrested over diesel scandal

German police searched Audi factories and offices in March 2017, also conducting searches at the German offices of USA law firm Jones Day. The arrest came just days after Germany imposed a $1.2 billion penalty on Volkswagen for rigging diesel...

Burger King offer free Whoppers to women impregnated by World Cup stars Burger King offer free Whoppers to women impregnated by World Cup stars

Burger King says it's sorry for offering a lifetime supply of Whoppers to Russian women who get pregnant from World Cup players. In a social media post, Burger King's Russian Federation team offered 3 million rubles (about $47,000) and a lifetime...

European Union to begin counter trade tariffs against United States on Friday

Separately it is also pursuing the case with the World Trade Organisation, arguing that the White House's reasons for the tariffs - that the glut of steel and aluminium poses a security threat - are not valid. Brussels first drew up the list in March...

Computer issues in Charlotte delay flights in Toledo Computer issues in Charlotte delay flights in Toledo

According to American Airlines, the delay, which began around 8 a.m. and ended at 10 a.m., was due to technical issues with their regional carrier PSA. The airline released a statement Sunday evening stating their intention to rebook passengers and...

Amazon introduces Alexa for Hospitality for Amazon introduces Alexa for Hospitality for "engaging guest experiences"

Lounging in a suite at the Wynn Las Vegas , which has installed Amazon's Echo device in hundreds of rooms earlier this year. Amazon's Alexa-Marriott partnership will begin this summer at select Marriott hotels. "For us, this is particularly intere...

Major cryptocurrency exchange Bithumb halts trading after more than $31 million hack Major cryptocurrency exchange Bithumb halts trading after more than $31 million hack

In a now-deleted tweet, Bithumb said today that 35 billion won of tokens - around $31 million - were snatched. The hack forced Bithumb to put up a notice on its site, saying that it had stopped all trading after it had discovered the intrusion and ...

Starbucks Announces Major Store Closings Coming in 2019 Starbucks Announces Major Store Closings Coming in 2019

In the past year, Starbucks has opened nearly 1,000 new stores in the Americas, which includes the U.S., Canada and Latin America. The stock slumped 3.5 percent in after-hours trading. The company told investors late Tuesday that it expects same-st...

Disney Plans To Counter Comcast’s Offer For Fox With Cash Disney Plans To Counter Comcast’s Offer For Fox With Cash

Last week, a judge signed off on AT&T's purchase of Time Warner, the parent company of CNN. Comcast bid $35 per share for Fox's entertainment assets, while Disney's agreed offer is valued at about $29.12 a share based on its Tuesday closing price...

Renewed U.S.-China trade spat boosts safety demand for yen Renewed U.S.-China trade spat boosts safety demand for yen

China denies such theft and accuses Washington of "deviating from the consensus reached by both parties". The fact that America imports more from China will make it harder for Beijing to match Trump's attacks, according to Derek Scissors, a res...

Telstra axes 8,000 jobs as company moves to 'cut costs'

The " Telstra2022 " strategy stems from the telco's strategic investments announced in 2016 , and will be made up of four pillars involving establishing a standalone infrastructure business; simplify its structure; a cost reduction program and portf...

Rats shred bank notes inside India ATM Rats shred bank notes inside India ATM

The ATM managed by Guwahati based FIS financial company was reportedly loaded with Rs. 29 lakh on May 19. The ATM belonging to State Bank of India in Laipuli area was shut since May 20, reported Indian Express . According to bank officials, no...

Microsoft employees call on company to cancel contract with ICE Microsoft employees call on company to cancel contract with ICE

According to Bloomberg data , Microsoft now has active ICE contracts worth $19.14 million. The letter demands Microsoft "cancel its contracts" with ICE, as well as those with clients who support the law enforcement agency's work. Microsoft is now ...

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