Thursday July 19-th, 2018

Financial Focus: Trade War or Taken to the Cleaners? Financial Focus: Trade War or Taken to the Cleaners?

US Defense Secretary James Mattis arrived in Beijing on his first ever visit to China on Tuesday, aiming to find room for military cooperation as security tensions between the two superpowers edge higher. It imports a lot of cars, and engines, in...

BMW Executive Says Would Shut UK Plants If Brexit Hits Supply Chain BMW Executive Says Would Shut UK Plants If Brexit Hits Supply Chain

Coupled to a rapidly developing trade war between the United States of America and Europe , the industry body believes there could be tough times ahead for the automotive sector and it has urged the government to accelerate progress, especially in...

$117,400 Salary Qualifies as 'Low Income' in SF $117,400 Salary Qualifies as 'Low Income' in SF

In the San Francisco metro area, which includes Marin, San Francisco and San Mateo counties, an income of $44,000 or less for a family of four is considered extremely low, while the upper limit for having a very low income is $73,300. The Bay Are...

Indian Rupee collapses to lifetime low against US dollar Indian Rupee collapses to lifetime low against US dollar

The partially convertible rupee, however, was propped up by dollar selling intervention, closing at 68.79/80 versus the previous close of 68.65/66. The country's current account and budget deficits are likely to widen this year, fueled by the higher ...

Conagra Brands to Buy Pinnacle Foods for $8.2 Billion Conagra Brands to Buy Pinnacle Foods for $8.2 Billion

Pinnacle foods is being bought by Conagra for $8.1 billion dollars in cash and stock. Conagra and Pinnacle Foods have been investing aggressively to become the two fastest-growing frozen meal companies, according to analysts, with such brands as B...

Stocks skid as trade tensions pull technology companies lower Stocks skid as trade tensions pull technology companies lower

Canada's main stock index posted a triple-digit decline, weighed down by losses in the energy, materials and technology sectors, while USA markets fell amid worries about trade tensions between the US and China. Meanwhile, U.S. tariffs on tens of bil...

Turkey's Erdogan, his alliance win presidential, parliamentary elections Turkey's Erdogan, his alliance win presidential, parliamentary elections

Demirtas, who has been in pretrial detention since November 2016 on terror-related charges, was forced to lead his campaign from prison and won 8.4 per cent of the presidential vote. Erdogan's dilemma is that the European Union is Turkey's largest ec...

Trump backs off imposing China investment limits Trump backs off imposing China investment limits

A week after Navarro released a White House report accusing China of "economic aggression" through systematic theft of United States technology, Mnuchin told CNBC this morning that everything was business as usual: The Committee on Foreign Investme...

Trump threatens Harley-Davidson with tax punishment for move Trump threatens Harley-Davidson with tax punishment for move

Those tariffs were imposed after the Trump administration imposed tariffs on steel and aluminum exports from Europe. In a Securities and Exchange Commission filing published today, Harley Davidson said that the retaliatory tariffs imposed by ...

Trump crackdown on China investment in USA, chooses lighter option Trump crackdown on China investment in USA, chooses lighter option

The proposed legislative changes would broaden the scope of investments subject to CFIUS review and close what the administration called "loopholes". News outlets including CNN reported earlier this week that the administration was considering a ...

Trump warns Harley-Davidson: 'We won't forget' Trump warns Harley-Davidson: 'We won't forget'

On Monday, Harley-Davidson in its US Securities and Exchange Commission (SEC) filing said that new retaliatory tariffs by the European Union (an increase from six per cent to 31 per cent) will result in an incremental cost of approximately United S...

Chinese tech investment is next target in Trump's crackdown Chinese tech investment is next target in Trump's crackdown

Trump threatened to hit another $200-billion of Chinese goods with an extra 10 percent tariff after Beijing retaliated. The US slapped a series of tariffs on European Union steel and aluminum on May 31, and on $ 50 billion worth of Chinese goo...

OPEC Plan to Raise Production Left No Room for Supply Disruptions OPEC Plan to Raise Production Left No Room for Supply Disruptions

West Texas Intermediate futures rose over 3%, touching $72.83 a barrel at the New York Mercantile Exchange. Brent crude futures had climbed 61 cents, or 0.8 percent, from their last close to $76.92 per barrel by 0650 GMT. The oil prices rose shar...

Oil rises as outages balance trade dispute, Opec Oil rises as outages balance trade dispute, Opec

Oil fell on Monday as investors prepared for an extra 1 million barrels per day (bpd) of oil to hit the markets after OPEC agreed to raise production and as USA equity markets slipped on trade war fears. The Ministry of Hydrocarbons for the Republic ...

Cut Iran Oil Imports or Face Sanctions Cut Iran Oil Imports or Face Sanctions

Meanwhile, Iranian President Hassan Rouhani addressed a meeting of judges and called for unity in the face of his country's economic woes. In 2010, the Reserve Bank of India ceased using a Tehran-based regional body, the Asian Clearing Union, to ...

Harley-Davidson to shift some production out of United States over European Union tariffs Harley-Davidson to shift some production out of United States over European Union tariffs

The move involves a net loss of about 350 jobs . In early 2018, the motorcycle manufacturer said it would be forced to close a factory in Kansas City and downsize production at a facility in York, Pennsylvania, a move that cut roughly 260 jobs, du...

China, EU oppose Washington's 'protectionism' China, EU oppose Washington's 'protectionism'

President Donald Trump has raised concerns about China's plan to strengthen high-tech industries like robotics, aerospace and computer chips, also known as Beijing's "Made in China 2025" policy. Scott Kennedy, a Chinese economy expert at the Cent...

Harley’s business will be hit if they move production

The company, which sold almost 40,000 motorcycles in Europe a year ago, said it planned to absorb those costs rather than pass them on to customers and risk damaging sales. Trump's attack, the latest in a series of criticisms of USA companies, was ...

Paul Ryan Blasts Tariffs After Harley-Davidson Shift Paul Ryan Blasts Tariffs After Harley-Davidson Shift

The motorcycle company blamed European Union tariffs on US goods in retaliation for the president's strict trade policy, but Trump voiced his doubts about that argument, saying Harley-Davidson is using the impending trade war as an "excuse".

China, EU to form group to modernise global trade rules China, EU to form group to modernise global trade rules

Lighthizer said that getting China to open its market to more USA exports was significant, but that it was far more important for the United States to resolve issues with China such as forced technology transfers and cyber theft. It said it would s...

The inexorable decline of the Turkish lira under Erdogan The inexorable decline of the Turkish lira under Erdogan

Erdogan, 64, is loved by millions of devoutly Muslim working class Turks for delivering years of stellar economic growth and overseeing the construction of roads, bridges, hospitals and schools. (Presidential Press Service via AP, Pool) Turkey's Pres...

Harley, stung by tariffs, shifts some production overseas Harley, stung by tariffs, shifts some production overseas

The tremendous expense if passed onto its dealers and retail customers would have a lasting detrimental impact to its business in the region, the company said in a regulatory filing. The US president tweeted he was surprised that the company had beco...

U.S. restrictions on Chinese investment next front in trade dispute

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 25, 2018 . The S&P technology index fell 2.3 percent, the most among the major S&P 11 sectors. But trade policy advisor Navarro, the administration's harshe...

Trump attacks Harley-Davidson after tariffs prompt production move Trump attacks Harley-Davidson after tariffs prompt production move

To prevent this damage in the short term, Harley have said they will not raise their prices, instead they will bear the financial impact of the tariffs , estimating them to cost between $30 - 45 million (£22 - 33 million) for the remainder of 2018.

Anti-Regime Protesters in Iranian Capital Chant, 'Death to Palestine!' Anti-Regime Protesters in Iranian Capital Chant, 'Death to Palestine!'

Iran's semi-official ISNA news agency reportedly said the protests also erupted after the Iranian rial collapsed to an all-time low of 90,000 to the dollar, despite the regime's attempts to control the currency rate. Protesters in the Iranian capi...

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