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TSX dips with oil ahead of OPEC meeting

Stocks around the world fell on Thursday and the US dollar slipped from a peak as investors flocked to bonds after weak economic data and on worries about a U.S. OPEC takes its decisions by unanimity, so if Iran were to wield its veto Saudi Arabia would be left only with the option of assembling a coalition of willing countries to bypass Tehran's opposition. Read More »

US Supreme Court Rules States Can Tax Online Sales


The suit ( South Dakota v. Wayfair ) was brought by 40 states that claim the old rule had cost them billions in lost tax revenue . States have become emboldened to defy Quill or devise other ways to try and get the use tax owned to them by their residents for their online purchases from out-of-state retailers. Read More »

China calls Trump's new tariff threats "blackmail"


Elsewhere, the S&P 500 lost 26 points to 2,747 while the tech-laden Nasdaq fell close to 87 points to 7,660. US President Donald Trump has threatened to impose tariffs on an additional $200 billion worth of Chinese goods in a escalating trade row with Beijing, which on Tuesday accused Washington of "blackmail" and warned it would "strike back hard". Read More »

Unions slam Telstra for plans to cut 8000 jobs


Telstra InfraCo will be launched on 1 July as a wholly owned standalone infrastructure business unit with its own CEO reporting to Telstra CEO Andrew Penn. In an earlier statement , Mr Penn said the strategy would fundamentally change the nature of telecommunication products and services in Australia. Read More »

European Union to impose duties on USA imports Friday after Trump tariffs

The European Union will begin charging import duties of 25 percent on a range of US products on Friday, in response to U.S tariffs imposed on EU steel and aluminum early this month, the European Commission said on Wednesday. A separate 10 percent tariff will be imposed on imports of playing cards. In March, Trump made a decision to hit importers with a tariff of 25 percent on steel and 10 percent on aluminum. Read More »

Microsoft employees demand company cut ties with ICE


They want contracts with ICE cancelled. In addition, the company distanced its computer software and cloud services from ICE, which has been accused of taking hundreds of children away from their parents. ICE has been at the forefront of news cycles lately, largely because of their detention centers (some of which house thousands of children separated from their parents) and their tendency to separate families at the border. Read More »

Tesla employee sabotaged the company, Musk tells staff


Mr Musk did not name the employee and company spokeswoman Gina Antonini declined to comment on the email. The employee reportedly impersonated other users when accessing parts of the system and programmed changes into core Tesla applications which were deemed to be damaging. Read More »

Macron and Merkel Agree Common Eurozone Budget, Tax Integration


Macron also said Paris and Berlin wanted agreements that would allow European Union member states to reject at their borders asylum seekers already registered elsewhere in the bloc - usually the first port of entry. Moreover, new statistics actually points to a record low in Germany's crime rate. Merkel said eurozone reform was the toughest issue in their talks at her Meseberg retreat outside Berlin , where they also touched on European foreign and defence policy and ... Read More »

China accuses U.S. of 'blackmail' as trade threats intensify


China swiftly rebuked the threat and said it would take strong countermeasures to safeguard itself if new tariffs are indeed announced . The International Business Forum's Stephen Jacobi said the escalation of the tension was worrying for New Zealand in the medium to long term as it threatened to dampen global growth and undermine existing trade rules. Read More »

Tesla's Musk alleges 'extensive' employee sabotage


A Tesla spokeswoman confirmed the authenticity of the Monday email, which CNBC reported first. Musk went on to say that while the "full extent" of the saboteur's actions were not yet known, it appeared that the employee was disgruntled over not getting a promotion. Read More »

Google announces strategic partnership with Chinese online retailer

perth_map will also join Google Shopping and expand the product selection there. Google has invested $550m (£415m) in Chinese Amazon rival as the U.S. Walmart teamed up with Google a year ago as both battle Amazon. The service displays items at the top of Google's search pages, allowing users to compare prices across different websites. Read More »

Audi CEO Rupert Stadler arrested over Dieselgate


A judge in Germany has ordered Stadler be remanded in custody, it said , to prevent him from obstructing or hindering the diesel investigation . "We confirm that Mr Stadler was arrested this morning". They are also investigating Winterkorn and 48 others. At 1325 GMT, VW shares were down 3.6 per cent at 155.30 euros, one of the biggest falls by a European blue-chip stock. Read More »

Tesco posts strong growth after Booker completion


Lewis said food price inflation had dropped to 1.8%-2.4% from more than 3% late a year ago. Group like-for-like sales at Tesco for the first quarter of its financial year were up by 1.8% while Booker reported comparable sales growth of 14.3%. Read More »

Next Move Is Trump's After China Hits Back in Trade-War Opener


USTR said Customs and Border Protection would begin collecting the additional duties on July 6. Progress to avert a back-and-forth of new import taxes seemed to be made in late May, after China agreed to cut tariffs on USA automobiles, and Trump pledged support for ZTE , a Chinese company affected negatively by US sanctions, as NPR's Camila Domonoske reported . Read More »

Salmonella Outbreak Linked To Kellogg’s Honey Smacks Cereal — CDC


Throw it away or return it to the place of purchase", the CDC warned in a tweet. No other Kellogg products are impacted. You should also thoroughly wash the container with warm, soapy water before using it again. NY has reported the highest number of cases - seven - while California, Massachusetts and Pennsylvania have each reported five cases. Outside of the USA, potentially contaminated products could be lining shelves in Costa Rica, Guatemala, Guam, Tahiti, the Caribbean, Mexico and ... Read More »

McDonald's to test alternatives to plastic straws in U.S.


An increasing number of businesses are removing plastic straws from their operations in a bid to stem plastic waste which pollutes oceans and harms marine wildlife such as turtles and fish. This comes as many multinational food companies are facing pressure from environmental groups to reduce the amount of plastic waste they produce. McDonald's isn't the first food corporation to buck the plastic trend in the UK; JD Wetherspoon, Burger King, and Costa Coffee have all phased out plastic ... Read More »

Bitcoin and Ether are Not Securities According to SEC Official


After news of Hinman's comment broke, the price of ether spiked around $70 to over $520, though by press time it had returned to $494. "If a startup is offering something that depends on the efforts of others, it should be regulated as security", he said and provided the example of a laundry shop using tokens for transactions within its branches or selling it to investors at a price to finance future expansion plans. Read More »

ECB Leaves Rates Steady, Plans To Halt QE At End Of 2018


Canada is also contending with new USA tariffs on steel and aluminum imports as well as slow-moving talks to modernize the North American Free Trade Agreement. The currency shared by 19 countries fell from $1.1820 to $1.1725 within minutes of the central bank's announcement. The purchases, which pump newly created money into the financial system, have driven down longer-term interest rates for borrowers such as governments and home buyers but have reduced returns for savers and made it ... Read More »

Trump Approves Tariffs On $50B In Chinese Goods


USTR said Customs and Border Protection would begin collecting the additional duties on July 6. " It has also seriously damaged China's legitimate rights and interests and has harmed the interests of China and its people , " Xinhua reported. Read More »

Feds Indict Theranos Founder Elizabeth Holmes For Wire Fraud


Theranos founder Elizabeth Holmes and former Theranos president Sunny Balwani have been charged with wire fraud. "Today's indictment alleges that through their company, Theranos, CEO Elizabeth Holmes and COO Sunny Balwani not only defrauded investors, but also consumers who trusted and relied upon their allegedly-revolutionary blood-testing technology", acting US Attorney Alex Tse said in a statement . Read More »

Deputy killed, another wounded in shooting in Kansas City


He was undergoing surgery. Authorities say they are not searching for any other suspects at this time . The shooting is under investigation. Police Capt. The wounded deputy, who is female, was in critical condition, Bailiff said. When they pulled into a parking lot outside the county courthouse, the deputies were "overcome", Bailiff said. Read More »

Supply rise hits price


A weekly market report from US motor club AAA said the national average retail price for a gallon of gasoline was at a point where consumers may be changing their habits. India's crude imports were 4.57 million bpd in the January-May period, up 272,000 bpd from the same period a year ago, according to vessel and port data and industry sources. Read More »

Toyota investing $1 billion in ride-hailing company Grab


The spokesman told The New Paper: "We are not disclosing our other investors at this point but are excited by the quality of investors who are interested in partnering with Grab in this Series H funding round". Grab really has its goals in perspective". The carmaker first invested an undisclosed amount in Grab in August past year, after it invested in US-based Uber in 2016 in a partnership for a financing programme that allowed Uber drivers to lease vehicles from Toyota and drive for Uber to ... Read More »

New Report Blames Tether for Bitcoin's Bull Run


The prices of so-called "alt-coins" tend to be strongly correlated to the price of Bitcoin, meaning that if the manipulation described in the paper is found to be accurate, it has bitter ramifications for the market as a whole. It has since collapsed to below $US7,000. Tether has always been accused of being insolvent, as they have been unable to provide legitimate audits, breaking off their relationship with their auditor earlier this year . Read More »

Mayor Emanuel Chooses Elon Musk To Build Hyperloop Tunnels To O’Hare


The Chicago Infrastructure Trust , acting on behalf of the City of Chicago, chose the Boring Company's proposal for the Chicago Express Loop service from downtown Chicago to Terminals 1 - 3 at the city's O'Hare Airport - where almost 80 million passengers boarded or disembarked at the IL airport in 2017. Read More »

Schematics for the next iPhone Plus model leak


The triple lens rear camera is said to come with 3D sensing and improved zoom functionality. What we see here is a dual camera setup that matches the current iPhone X. Apple is supposed to begin three new iPhones in 2018: a 6.5-inch "iPhone X Plus", a second-generation iPhone X, and a 6.1-inch LCD iPhone. As for the rest of the iPhone X Plus, the schematics reveal a notch on the front similar to the iPhone X and we can expect Face ID tech being housed inside it. Read More »

Trump aide apologizes for 'inappropriate' comments on Trudeau


Trudeau had engaged in "bad-faith diplomacy", Navarro maintained. "Canadians, we're polite, we're reasonable, but we also will not be pushed around", Trudeau said Saturday as the gathering concluded after Trump had left early for the Singapore summit with Kim Jong Un . Read More »

Federal Reserve raises interest rates


The tighter policy reflects expectations for stronger growth, lower unemployment and faster inflation than officials had anticipated in March. The latest increase , the second this year , will bring the benchmark federal-funds rate to a range between 1.75% and 2%. Read More »

US Oil Production Jumps, Eyes 11 Million; Trump Hits OPEC On Prices

Oil pumpjacks are seen in Lagunillas, Venezuela May 24, 2018. IEA's outlook showed the U.S. as the biggest supplier, despite the discount for WTI versus Brent. A gallon of regular gasoline is now $2.91, up 25 percent from the year-ago level. Russia, alongside Saudi Arabia, has the highest spare capacity to boost production. Read More »

Trump tariffs will force "dollar for dollar" retaliation says Canadian diplomat


According to a Canada release, they make nearly 100 Billion Dollars in Trade with USA (guess they were bragging and got caught!). Also, contrary to Trump's attacks , the U.S. President Donald Trump's top trade adviser Peter Navarro did not mince his words. Behind his claim lies a difference in how the countries' calculate the trade figures. Read More »

Amazon expands Prime Whole Foods discount to Alabama


Amazon has owned Austin-based Whole Foods since August 2017. Plus, Whole Foods has launched even more discounts on some of the store's best-selling products. At the cash register, they can have the cashier scan their phone to save some money on any item that was marked with a Prime savings sign in the store. Read More »

Tesla slides after report says it plans to cut 3,000 jobs (TSLA)


Nearly all of the jobs are salaried positions, Musk said. The layoffs at Elon Musk's electric auto company come as it tries to increase production of its Model 3 sedan and turn a quarterly profit this year. Also contained in Musk's letter to employees, the CEO announced that Tesla would not renew its residential solar sales agreement with Home Depot in order to focus on selling solar power through Tesla stores and online. Read More »

Peter Navarro's apology to Justin Trudeau for 'hell' remark


He blamed Canadian Prime Minister Justin Trudeau's statement afterward that Canada would not be "pushed around ". He delivered them the day after Trump himself criticized Trudeau and shortly after Trump's top economic adviser, Larry Kudlow, insulted Trudeau himself. Read More »

Domino’s Is Filling Potholes With ‘Paving For Pizza’ Program


We'll skip the debate on the "great-tasting pizza" comment and note that the initiative is called Paving For Pizza , and Domino's says in a release that it fixed 200 potholes across four municipalities. That includes $2 trillion for roads alone. Domino's contribution to fixing potholes in Milford, Delaware. Just go to and enter your zip code. Read More »

Judge approves AT&T-Time Warner merger opposed by Trump


AT&T Inc . won approval from a USA court on Tuesday to buy Time Warner Inc for US$85 billion, allowing AT&T to compete with internet companies that dominate digital advertising and providing new sources of revenue. Those comments and his repeated criticism of CNN, which is owned by Time Warner's unit Turner Broadcasting, raised speculation that Trump had pushed Delrahim and the Justice Department to block the deal. Read More »

Jaguar Land Rover to move Discovery production from UK to Slovakia


However, the move has also been welcomed locally as a step for the manufacturer to upgrade the Solihull plant to build new, electric models. The company, owned by India's Tata Motors, builds almost one in three of Britain's 1.7 millions cars but is producing its first electric vehicle, the I-Pace, in Austria. Read More »

Elon Musk's flamethrowers being resold for thousands on eBay


For legal reasons, the machines are named Not-a-Flamethrower. Well, the most logical guess would be that Musk's Boring Company raising $1 million from sold hats and a further $10 million from Not a Flamethrowers , minus production and shipping costs, could be contributing to Musk's multiple start-ups without taking on the same debt or diluting ownership like most ventures usually would. Read More »

Trump, Kim confident but body language reveals nerves at first meeting


Trump briefly touched Kim's right upper arm, then they turned to face the cameras. Kim reportedly spoke in English to greet Trump but the extent of his English skills is unknown. That hasn't stopped Trump from heightening anticipation for the summit, which he views as a landmark event that his predecessors could never have accomplished. Read More »

Donald Trump and Kim Jong-un share historic handshake


Trump has blamed past presidents for failing to resolve tensions with North Korea as it has pursued a nuclear program, testing missiles in displays of posturing and provocation. The young Kim is reviled as an global pariah over the 2017 murder in Malaysia of his half-brother, and the execution of hundreds of officials, including his uncle, for suspected disloyalty. Read More »

Poundworld on brink of collapse as last-ditch talks fail

Bargain Buys in Stevenage, which is part of the Poundworld chain. "Usdaw is providing the support and advice our members require at this very hard time and we expect the administrators to ensure all staff are treated with dignity and are fully consulted". Read More »

End of Net Neutrality takes effect today


As you surf the internet, you might not notice anything different. Your ability to watch and use your favorite apps and services could start to change - though not right away - following Monday's official repeal of Obama-era internet protections. Read More »

Final preparations under way for Trump-Kim summit


Top members of Trump's administration have said that the North Koreans wouldn't receive any benefits before taking steps to denuclearize - wary of falling into the same predicament that doomed previous agreements with the rogue regime. But the state is now trying to sell the idea of talking to what it once described as "the incarnation of all sorts of evil, the empire of devils". Today, we start with a behind the scenes of the summit. Read More »

Trump casts North Korea summit as just a first date

All his running bodyguards were decked up in black suits and blue ties. Following a sit-down with North Korean leader Kim Jong Un yesterday, Prime Minister Lee Hsien Loong held a private meeting with US President Donald Trump this afternoon ahead of tomorrow's big summit. Read More »

Bitcoin hits two-month low after South Korean exchange hacked


Although Coinrail didn't specify the value of the heist, a wallet address that has been linked to the alleged attacker appeared to have stolen more than $40 million worth of cryptocurrency , TechCrunch noted . The exchange said it has managed to freeze all exposed NPXS, NPER and ATX coins, and that other cryptocurrencies are now being kept in a cold wallet. Read More »