Finance

by | July 09, 2018 | 23:43

That came after an outage at a major Canadian oil sands facility cut regional supply. USA crude output stayed flat at 10.9 million barrels per day (bpd). Concerns that oil prices will be weighed down by a trade conflict between the United States and China have faded to some extent, analysts said. Tariffs would make US oil uncompetitive in China.

by | July 09, 2018 | 19:42

President Xi Jinping has balked at USA demands to stop subsidizing Chinese firms under his plan to make the nation a leader in key technologies by 2025. "If U.S. -China trade tensions intensify, it would have an adverse effect on not only China but surrounding countries" that have close economic relations with Asia's biggest economy, said Toru Nishihama, chief economist at the Dai-ichi Life Research Institute.

by | July 09, 2018 | 18:40

In a move meant to cut back on waste, the worldwide coffee giant said Monday that it would eliminate plastic straws from its more than 28,000 locations globally by 2020. Other cities, like Fort Meyers, have banned plastic straws as well. The strawless lid, which features a raised lip, is already available in more than 8,000 stores in the USA and Canada for select beverages.

by | July 09, 2018 | 17:53

Davis said the so-called "soft Brexit" plan, which proposes maintaining a "UK-EU free-trade area" would leave the U.K.in "at best, a weak negotiating position and at worst, an inescapable one". It is unclear whether Brussels will accept this, after repeatedly warning Britain it can not "cherry-pick" bits of its single market. "This afternoon, the Prime Minister accepted the resignation of Boris Johnson as Foreign Secretary", May's spokesman said in a statement.

by | July 09, 2018 | 15:30

Facebook CEO Mark Zuckerberg is now worth $81.6 billion, about $373 million more than Berkshire Hathaway Inc.'s Warren Buffett , making him the world's third-richest person. Buffett, who is once the world's richest person, slid in the ranking largely because of his charitable giving. Berkshire Hathaway bought about 75 million shares of Apple stock during the first three months of the year, adding to the 165 million shares it already had.

by | July 09, 2018 | 13:00

Thailand's interior minister said the same divers who took part in Sunday's rescue will return as they know the cave conditions and what to do. As of this writing, four of the boys have already been rescued but operations have been put on hold to restock on supplies.

by | July 09, 2018 | 03:49

The Journal reported that the swift change indicates ZTE is hurrying to meet requirements laid out by the U.S. Commerce Department as part of a deal to allow the Chinese phone-maker to do business in the United States again. They included vice presidents Wang Keyou, Xie Jiepeng, and Ma Jie, who were in charge of the legal, finance, and supply chain departments, respectively.

by | July 09, 2018 | 01:51

The company said in a statement given to USA TODAY: "We continuously test new things at Netflix and these tests typically vary in length of time. In this case, we are testing slightly different price points and features to better understand how consumers value Netflix".

by | July 08, 2018 | 22:26

The economy needs to create roughly 120,000 jobs per month to keep up with growth in the working-age population. This suggests renewed economic optimism among less-skilled or less-educated workers. Nonetheless, an escalating trade war poses a clear threat. The dollar extended losses against the euro and the yen after the employment report .

by | July 08, 2018 | 17:54

The economy also faces a substantial threat from the Trump administration's trade war with China and from other, ongoing trade disputes with USA allies, including Canada and Europe. The agency says more people were seeking job opportunities and that forced the rate up to 6%. "The underlying fundamentals have been strong for quite some time and while we were a little surprised by the uptick in the unemployment rate , it appears to be caused by additional workers entering the labor force, ...

by | July 08, 2018 | 15:25

Trump also said the USA is ready to target an additional $200bn in Chinese imports - and then $300bn more - if Beijing does not yield to U.S. demands and continues to retaliate. President Donald Trump on Friday announced that the US could impose additional tariffs on more than $500 billion in Chinese imports, or roughly the total amount of Chinese imports annually into the USA, according to an article from Reuters .

by | July 07, 2018 | 11:45

West Texas Intermediate crude oil is trading for US$73.09 per barrel. Trump's policy of economic sanctions on Iran has been accused by some bankers and energy experts as the primary factor in the market's current level of high and unstable prices, CNBC recently reported.

by | July 07, 2018 | 07:43

Still, average hourly pay rose just 2.7 per cent in June from 12 months earlier, meaning that after adjusting for inflation, wages remain almost flat. Now back to the number you are seeing in today's headline - the 4 percent unemployment rate. But retailers cut 21,600 jobs last month, after boosting payrolls by 25,100 in May.

by | July 07, 2018 | 02:45

UMC filed its complaint against Micron in January, saying the US firm had infringed on three of its patents covering its SSD, graphics memory card and DDR4 SDRAM products. Other chipmakers also gained. "This is an opportunity for SK Hynix and Samsung , because the banned products are not what the Chinese can make on their own".

by | July 07, 2018 | 01:27

Azevedo said , adding that more restrictions had been put in place in the weeks after the period under review ended. Even though the tariffs just kicked in, they were approved in back in March and have already managed to make a negative impact.

by | July 06, 2018 | 02:41

Newly elected Mexico's President Andres Manuel Lopez Obrador, running for "Juntos haremos historia" party, cheers his supporters at the Zocalo Square after winning general elections, in Mexico City, on July 1, 2018. The federal government is still expecting NAFTA talks to accelerate this summer even though U.S. President Donald Trump says he's in no rush to sign a deal until after the U.S.

by | July 06, 2018 | 01:46

Beijing has said it will retaliate with tariffs on U.S. products.sssThe onshore yuan last traded at 6.6299 against the dollar, up 0.21 percent on the day, after opening at 6.6365. "Our base case remains that some form of negotiated solution will be reached, but things are likely to get worse before they get better", Shane Oliver, chief economist at AMP Capital, said in a Saturday note.

by | July 05, 2018 | 20:57

US crude futures were up 32 cents at $74.46, within sight of Tuesday's 3-1/2-year high above $75. The Organization of the Petroleum Exporting Countries pumped 32.32 million bpd in June, a Reuters survey showed, up 320,000 bpd from May. America wants to cut Iran's oil exports to zero by November. But Tehran has threatened to take drastic action on the oil supply in retaliation against Trump's attempt to curb its exports.

by | July 05, 2018 | 19:03

The yield has been confined to a 15-basis-point range in June after fluctuating by almost 40 basis points in May, when it touched a seven-year high of 3.128 percent. Asian shares were subdued on Wednesday as weakness in Chinese stocks and the yuan weighed on sentiment, while oil held hefty gains as the United States pressured allies to stop buying Iranian crude.

by | July 05, 2018 | 16:10

Two posts on Twitter in June criticised Opec prices for being too high. Mr Zangeneh said that any increase in the production by any OPEC member country "beyond commitments stipulated in OPEC's decisions adopted in 171st and 174th Meetings would constitute a breach of the agreement".

by | July 05, 2018 | 11:57

The fact that American auto manufacturers are urging President Trump not to tax ( impose tariffs) us consumers any further is an indication of the complexity of trade and why tariffs are a 19th century policy tool that doesn't work in the 21st century world of long and involved supply chains.

by | July 05, 2018 | 11:42

The move comes just days before the USA is due to impose steep tariffs on billions of dollars in Chinese imports, which is likely to spark countermeasures from Beijing . Since it's 72.72% owned by the Chinese government, China Mobile is " subject to exploitation, influence and control by the Chinese Government ", the agency said.

by | July 05, 2018 | 08:36

But he added that at a high level China-EU economic dialogue in Beijing last week both sides had agreed to oppose unilateralism and trade and investment protectionism. A Chinese court temporarily banned Micron Technology (MU.O) from selling chips in China, the world's biggest memory chip market, hitting shares in US stock overnight and Asian semiconductor stocks on Wednesday.

by | July 05, 2018 | 07:59

The co-founder and chairman of giant Chinese conglomerate, HNA Group , has died in a fall in southern France, his company has confirmed. Wang lost his balance as he attempted to climb onto a retaining wall next to a rock at the highest point in Bonnieux , a scenic village, said Lieutenant-Colonel Hubert Meriaux, a police officer in nearby Avignon.

by | July 04, 2018 | 22:40

Amid the fierce polemics between Beijing and Washington concerning trade and tariffs, Chinese media have started a seemingly coordinated campaign badmouthing USA tourism this week, with some papers even urging Chinese tourists to take a detour to the tumultuous Xinjiang Uyghur Autonomous Region in northwestern China instead.