Finance

Facebook's 20%, $120B 1-day stock drop worst in USA history

Facebook's 20%, $120B 1-day stock drop worst in USA history It's quite possible that Facebook's shares could recover and continue to climb. Facebook suffered a blow in China on Wednesday when regulators there withdrew their approval of a company innovation hub to support local startups, the New York Times reported on Wednesday, citing a person familiar with the matter. [Full Article...]

Trump admin plans to help farmers hurt by global trade tensions

Trump admin plans to help farmers hurt by global trade tensions Industry experts said the trade war could exacerbate a long-term trend of family farms succumbing to economic pressures and selling to larger multi-national conglomerates. During a Monday event at the White House featuring American-made goods, Trump displayed a green hat that read, "Make Our Farmers Great Again". "Now they have to pay, '" Reinsch said, echoing the president's argument. [Full Article...]

Euro perched at three-day high on trade talk hopes

Euro perched at three-day high on trade talk hopes President Trump and European Commission President Jean-Claude Juncker said Wednesday that they have agreed to work toward removing all trade barriers between the two sides. The EU and the USA have been embroiled in a tit-for-tat trade row in the last few months after Mr Trump imposed tariffs on steel and aluminium imports. [Full Article...]

Ag Dept to send $12B to farmers hurt by tariffs

Ag Dept to send $12B to farmers hurt by tariffs The Trump administration readied a plan Tuesday to send billions in emergency aid to farmers who have been caught in the crossfire of President Donald Trump's trade disputes with China and other US trading partners. To date, every time that the Trump administration has imposed a tariff on China, China has imposed an equal tariff on US goods. He has also threatened to slap tariffs on imported car... [Full Article...]

No victor in Mega Millions as prize surges to $493 million

No victor in Mega Millions as prize surges to $493 million The bad news is no one won the Mega Millions jackpot Friday night. Forty-seven people matched four white balls and the Mega Ball and won $10,000. This is the 6th largest Mega Millions jackpot in the game's history. The estimated Super Kansas Cash jackpot for Saturday is $1.78 million. In all, three Mega Millions jackpots have been awarded in 2018. The winning numbers were 1-14-30-44-62 with th... [Full Article...]

China says US blaming Xi for blocking trade deal is 'bogus'

China says US blaming Xi for blocking trade deal is 'bogus' China is turning to the World Trade Organization as a way to fight back against the latest tariffs proposed by U.S. President Donald Trump. Post-Second World War trade clashes were regulated by GATT (General Agreement on Trade and Tariff). [Full Article...]

Oil prices rise; still set for third weekly drop on oversupply

Oil prices rise; still set for third weekly drop on oversupply Brent for September settlement advanced 74 cents to $73.69 on the London-based ICE Futures Europe exchange. Saudi Arabia is now expecting crude oil exports to dip by 100,000 bpd in August, according to a Reuters report, after yesterday reports that OPEC had increase production to more closely reflect the production cut agreement forged at the end of November 2016. [Full Article...]

Department of Justice to appeal AT&T and Time Warner merger approval

Department of Justice to appeal AT&T and Time Warner merger approval The appeal will be heard by the D.C. Circuit Court of Appeals. The Justice Department sued to block the deal from going through in November of 2017, arguing that it would limit competition and raise prices . Media commentators suggested Trump was critical of the deal because of his antipathy for CNN , which has lambasted his presidency and is a regular target for his Twitter attacks. [Full Article...]

21st Century Fox Given Clearance To Buy Sky By British Government

21st Century Fox Given Clearance To Buy Sky By British Government The £14 per share offer is 12pc higher than the £12.50 offered by Comcast in April and 82pc higher than the stock's value before Fox made its first offer in November 2016. According to some shareholders, that has set an implied higher floor for Sky's shares. The end of the week is also be the deadline for Comcast to post an offer to Sky shareholders, who then have 60 days to consider that of... [Full Article...]

May clings to power amid Brexit resignation turmoil

May clings to power amid Brexit resignation turmoil He was more enthusiastic about Johnson , calling him "a friend of mine". "Maybe I'll speak to him when I get over there". After being the surprise pick as foreign secretary, Mr Johnson's gaffes did not cease. "We will not get a clean, democratic Brexit under Theresa May and if the Conservative Party don't come to their senses, then yes, when there is a leadership contest in Ukip at the end of... [Full Article...]

US says to slap tariffs on extra $200 billion of Chinese imports

US says to slap tariffs on extra $200 billion of Chinese imports That prompted fears Beijing might go beyond matching USA import tax increases by harassing American companies in China. Last week, Washington imposed 25% tariffs on $34 billion of Chinese imports, and Beijing responded immediately with matching tariffs on the same amount of U.S. [Full Article...]

Why Trump is pressing Saudi Arabia to lower oil prices:…

Why Trump is pressing Saudi Arabia to lower oil prices:… S. defends many of their members for very little dollars. Earlier, the Saudi and Russian energy ministers reaffirmed their 1 million-barrel-a-day agreement reached last month in Vienna, after Trump tweeted over the weekend that he'd received assurances from the Middle Eastern nation that it could increase production by double that volume. [Full Article...]

Oil near US$74 amid Trump tweets, forecast drop in USA stockpile

Oil near US$74 amid Trump tweets, forecast drop in USA stockpile The announcement was made following a cabinet meeting headed by Saudi Arabia's King Salman bin Abdulaziz Al Saud. President Donald Trump's sustained bid to disrupt Iran's petroleum exports could soon help to push oil prices above $90 a barrel, analysts told CNBC on Thursday. [Full Article...]

Dutch PM Rutte interrupts Trump over trade deal claims

The European Union has warned the United States that imposing import tariffs on cars and auto parts would harm its own automotive industry and likely lead to counter-measures by its trading partners on US$294 billion of USA exports. Trump has previously been persuaded to back off of trade threats with the argument that states that backed him in the 2016 presidential campaign will be hit hard. [Full Article...]

Amazon Prime Day Announced

Amazon Prime Day Announced Here are all the details! Not content with the shopping extravaganza held annually on Black Friday , Amazon has taken to holding its own little promotion in recent years, imaginatively called Prime Day . Amazon also plans to offer delivery in up to 2 hours through its Prime Now app in four cities during the Prime Day sale across categories like smartphones and electronics. [Full Article...]

LeBron Will Wear #23 For Lakers; Jersey Pre-Orders, Ticket Prices Skyrocket

LeBron Will Wear #23 For Lakers; Jersey Pre-Orders, Ticket Prices Skyrocket The Lakers may still be pursuing Leonard, but from the sounds of it, they won't compromise the future for him, especially when Leonard reportedly wants to sign with the Lakers as a free agent in 2019. Those subsequent moves raise one important question: LeBron is aware the Lakers did that, right? The top markets for sales of LeBron's Lakers jersey were Los Angeles , New York, Oakland/San Fr... [Full Article...]

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

President warns Harley-Davidson: 'We won't forget' Harley said Monday it's moving the production of motorcycles destined for Europe to factories in Thailand, India and Brazil in response to the European Union slapping a 31 percent tariff on motorcycles made in the U.S. But many of Harley's motorcycles sold in India are assembled in the country, so they may not be subject to the tariffs anyway. "Hence, they were just using Tariffs/Trade War a... [Full Article...]

Trump tells Republicans to 'stop wasting their time' on immigration

Trump tells Republicans to 'stop wasting their time' on immigration The delegation visited a Customs and Border Protection processing facility in the U.S. -Mexico border city of McAllen, the epicenter of the Trump administration's "zero tolerance" policy in which people entering the U.S. Also, Trump is taking a risk by asking Republicans to push off a vote until after the election. But without Trump's backing, the bill is essentially guaranteed to fail. [Full Article...]

Trump denies he's to blame for Harley-Davidson decision

Trump denies he's to blame for Harley-Davidson decision President Donald Trump is denying that his trade policy is responsible for Harley-Davidson's ( HOG ) decision to shift some motorcycle production overseas . Trump said in tweets Tuesday that the company had already announced it was closing a Kansas City plant. But Mr. Trump responded that Harley had made a decision to relocate some production "long before Tariffs were announced". [Full Article...]

Iran Walks Out As Russia, Saudis Gain Support For Oil Output Increase

Iran Walks Out As Russia, Saudis Gain Support For Oil Output Increase The Bloomberg headline earlier says that OPEC members have come to an agreement on principle for an output increase of 1 million bpd on paper. But it remains to be seen what kind of compromise could emerge, given Iran's deep aversion to any attempt by OPEC allies to offset its expected production losses as a result of the impending U.S. [Full Article...]


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