Markets

Iran to Store Its Oil in Fleet of Supertankers

Iran to Store Its Oil in Fleet of Supertankers

He said efforts by US President Donald Trump to remove Iran from the oil market through sanctions had allowed Russian Federation and Saudi Arabia to take OPEC as a hostage. A slowdown in USA production growth next year comes at a delicate time for oil markets, especially with Iran production being curtailed while uncertainties remain in Venezuela , Libya and Nigeria , all three are OPEC producers. Read More

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Trump made false claim about economy, GDP, unemployment rate: White House

Trump made false claim about economy, GDP, unemployment rate: White House

But the Obama administration also celebrated economic gains, with a 5.1 percent GDP in the second quarter of 2014 and four quarters of growth above the 4.0 percentage rate. Trump went on to argue, "I guess I have a magic wand, 4.2%, and we will do MUCH better than this!" "When you hear how great the economy's doing right now, let's just remember when this recovery started", he said in a speech kicking off a midterm campaign blitz. Read More

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Trump Ready to Tax an Additional $267B in Chinese Imports

The Trump administration is reportedly considering using an Obama-era executive order to slap new sanctions on Chinese entities using cyberattacks to steal US intellectual property. is looking for a deal with China to end the trade war between the world's two biggest economies. Lighthizer is due to meet Monday in Brussels with EU Trade Commissioner Cecilia Malmstrom to resolve the dispute ignited when Trump imposed steep duties on all steel and aluminum imports. Read More

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Friends prank McDonalds with poster kept up for 51 days

And hopefully one day I could see someone like me on the big screen. With the help of a couple of friends, the mission was complete and now nearly two months later, the poster is STILL UP. Jehv Maravilla was one of the friends. He told USA Today: "Like, for Asian men". 'They had other races, but no Asians so we felt like it was our duty to put ourselves up there, ' Maravilla said. Read More

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Mass. primary stunner, Pressley unseats incumbent Rep. Capuano

Mass. primary stunner, Pressley unseats incumbent Rep. Capuano

Pressley conceded throughout the race that there was little policy daylight between her and Capuano, though she did go further than him by calling for the abolishment of the Immigrations and Customs Enforcement agency. The prospect of a Pressley upset had drawn some comparisons to Alexandria Ocasio-Cortez's defeat of Crowley in June . " Ayanna Pressley is going to be a good congresswoman", he said . Read More

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Fuel prices to remain unchanged: Radebe

Fuel prices to remain unchanged: Radebe

Since August 16, petrol prices have risen by over Rs 2 per litre. Petrol price in Delhi rose to a record Rs 79.31 per litre and diesel climbed to a fresh high of Rs 71.34, according to price notification of state-owned fuel retailers. Rising fuel prices may also compel travel agents to increase rates by 10% for private cars/buses hired for picnics and weddings, sources said. There is a pressure on oil prices due to decrease in production. Read More

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Alberta government to provide financial update on heels of Trans Mountain bombshell

Alberta government to provide financial update on heels of Trans Mountain bombshell

January 11, 2017: B.C. Premier Christy Clark announces her support for the project, saying Kinder Morgan has met five government conditions including a revenue-sharing agreement worth up to $1 billion. The court also found that during the final phase of Indigenous consultation, the government's representatives limited their mandate to listening to and recording the concerns of the Indigenous applicants and then transmitting those concerns to the decision-makers. Read More

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California Blockchain Bills Would Enable New Understanding, Private-Sector Trial

California Blockchain Bills Would Enable New Understanding, Private-Sector Trial

California lawmakers voted to give a reprieve to Pacific Gas & Electric Co., and took steps toward reducing years of secrecy surrounding police misconduct on the busy final day of the two-year legislative session. "However, the legislation includes extreme provisions rejected by the Obama FCC in 2015 and could threaten the innovation and investment that are the backbone of California's economy". Read More

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Bruce Heyman on Canada and US trade

Bruce Heyman on Canada and US trade

But in recent weeks, Washington and Mexico City made a decision to tackle their own bilateral issues first. Trump announced the deal from the White House on Monday , calling it a "big day for trade ". But they do have one thing going for them - Trump needs a win going into the US midterms, especially after the legal mess in which he's become entangled in the last week. Read More

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Trump says US market would 'crash' if he were impeached

Trump says US market would 'crash' if he were impeached

The storm reached new heights Tuesday when President Donald Trump's former campaign manager Paul Manafort was convicted by a jury and Trump's former personal lawyer Michael Cohen pleaded guilty to separate felonies . According to the court filing, Cohen and Pecker worked to suppress potentially damaging claims against candidate Trump, with AMI using a tabloid tactic called "catch and kill". Read More

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Britain Calls For More EU Sanctions On Russia

Britain Calls For More EU Sanctions On Russia

In June, the United States sanctioned Divetechnoservices, also based in Saint Petersburg, for procuring underwater equipment and diving systems for Russian government agencies, including Russia's FSB intelligence agency. What else will the Foreign Secretary be doing in Washington? According to Mitchell, foreign direct investment in Russian Federation has fallen by 80 percent since 2013, " which is a pretty stunning number ". Read More

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China, US to Resume Trade Talks This Month

China, US to Resume Trade Talks This Month

The Wall Street Journal reported that the talks in Washington would take place on August 21 and 22, just before $16 billion in new USA tariffs on Chinese goods take effect, along with an equal amount of retaliatory tariffs from Beijing . The last round of talks took place in early June, . when U.S. Commerce Secretary Wilbur Ross met Chinese Vice Premier Liu He in Beijing . Mr Trump said in a tweet in April: "Russia and China are playing the Currency Devaluation game as the USA keeps ... Read More

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Turkish president says country will boycott iPhones

Turkish president says country will boycott iPhones

Last week, Washington imposed sanctions and raised tariffs against Ankara over the continued detention of American pastor Andrew Brunson . American pastor Andrew Brunson , if convicted, faces a jail term of 35 years. very unfairly, very badly". The Turkish currency has lost about 40 percent of its value this year against the us dollar . "Turkey is not in favor of an economic war, but we can not remain with no reaction if there is an attack on us", Erdogan spokesman Ibrahim ... Read More

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Qatar promises $15 billion investment in Turkey

Qatar promises $15 billion investment in Turkey

The plight of the American pastor, Andrew Brunson, has dominated the Trump administration's strategy toward its North Atlantic Treaty Organisation ally, even as the dispute roiled currency markets. Albayrak, a 40-year-old former company executive with a doctorate in finance, said Turkey would not hesitate to provide support to the banking sector. Read More

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Death toll in Italian bridge collapse climbs to 39

Death toll in Italian bridge collapse climbs to 39

A fire service spokesperson told AFP that the bridge had mostly fallen on rail tracks 100 metres below and that cars and trucks had fallen with the rubble. The highway operator said work to shore up the foundation of the bridge was being carried out at the time of the collapse, adding that the bridge was constantly monitored. Read More

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World equities slip on Turkey currency woes

World equities slip on Turkey currency woes

Turkish President Recep Tayyip Erdogan this morning claimed the country was under economic "siege", accusing the USA of trying to "stab it in the back". "In a worst- case scenario involving total loss of local equity and any intergroup funding, we see a range of circa one-12 per cent of group equity losses for these banks", it said in a note. Read More

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U.S. stocks close mixed amid trade tensions

U.S. stocks close mixed amid trade tensions

The industrial index fell 0.3 percent as a drop in shares of trade-sensitive stocks such as Boeing and Caterpillar dragged. The S&P financial index.SPSY was down 0.6 percent. Data on Friday showed USA consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures. Read More

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Chinese state media labels Trump's trade policies 'extortion'

Chinese state media labels Trump's trade policies 'extortion'

The Trump administration ramped up pressure for trade concessions from Beijing this week by proposing a higher 25 per cent tariff on $270 billion worth of Chinese imports . President Donald Trump will keep pressing China for trade concessions, a top White House economic adviser said Friday, as the Asian nation continued the tariff escalation by announcing further retaliatory actions against USA goods. Read More

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Tesla buyout would need to go short on leverage

Tesla buyout would need to go short on leverage

But even for him, this was stunning. At $420 a share, Tesla would have a market cap of around $71 billion. It's not uncommon for trading in a stock to be halted in the wake of unexpected or unsettling news. Tesla said in a regulatory filing in 2013 that investors interested in keeping up with Tesla should follow Musk's account. Despite its challenges, Tesla has remained a favourite among many investors, partly due to their faith in Mr Musk, who made his initial fortune as a co- founder ... Read More

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China threatens new tariffs on $60 bn worth of US goods

China threatens new tariffs on $60 bn worth of US goods

China's proposed import tax is the latest in a tit-for-tat trade war between the two countries, which started in March when Trump signed a presidential order imposing tariffs on at least $50 billion in Chinese goods. The Chinese government did not specify what types of American products would be affected or when those tariffs would take effect. Second, the US wants China to purchase at least $100 billion more in US goods, mostly from Midwest US agribusiness and manufacturing. Read More

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Oil turns positive as USA inventories seen lower

Oil turns positive as USA inventories seen lower

Futures fell for the third day in NY, losing as much as 1.1 per cent to hit their lowest level since June 22, but USA government's data showed a surprise gain in nationwide stockpiles on Wednesday. China has said it plans to impose tariffs on liquefied natural gas, raising concerns that it could also impose tariffs on oil, Kilduff said. Meanwhile, trade war concerns have resurfaced again on reports the Trump administration is planning to propose a 25% tariff on goods worth over $200 billion ... Read More

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RBI hikes key rate 2nd time in two months

RBI hikes key rate 2nd time in two months

The reverse repo rate or the rate at which RBI borrows from commercial banks stands adjusted to 6.25 per cent. "While an interest rate rise is positive news for people living on their savings income, or holding pensions and investments, it may prove to be the tipping point for those in financial difficulty or struggling with debt", said Richard Haymes, head of financial difficulties at credit data firm TDX Group. Read More

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