Business

Rupee at all-time low: What is pushing it down? HSBC India answers

Rupee at all-time low: What is pushing it down? HSBC India answers Subsequently, the fall in oil prices from $72 to $64 on expectations that the Organization of Petroleum Exporting Countries (OPEC) will increase production gave a breather to the Indian rupee . The volatility is being driven by global factors, including proposed USA sanctions on Iran and the mismatch in demand and supply of oil, said Subhash Chandra Garg, the economic affairs secretary in t... [Full Article...]

Bali reopens airport after volcano eruption strands thousands of tourists

Bali reopens airport after volcano eruption strands thousands of tourists The Ngurah Rai airport began operating at 2.30 pm local time (12 pm Indian Standard Time), about 12 hours after it was shut. "At this stage, scheduled flights this afternoon and this evening are planned to operate subject to any change in conditions". [Full Article...]

Ryan, Walker react to Harley moving production

Ryan, Walker react to Harley moving production If they move, watch, it will be the beginning of the end - they surrendered, they quit! Mr. Trump is right that the company announced plans to build a plant in Thailand long before the current tariff escalation. Does Harley even understand what 'Made in America means?' Harley-Davidson plans to shift some motorcycle production away from the United States to avoid the "substantial" burden of Europ... [Full Article...]

Cut Iran Oil Imports or Face Sanctions

Cut Iran Oil Imports or Face Sanctions At the tail end of 2017, it reportedly stood at 42,890. It wasn't immediately clear who led Monday's protests. At the end of previous year, similar economic protests roiled Iran and spread to some 75 cities and towns, becoming the largest demonstrations in the country since its 2009 disputed presidential election. [Full Article...]

US stocks slide on escalating US-China trade tensions

The recent imposition of import tariffs by the USA, and counter-measures by other countries, are also starting to affect global production and supply chains. Navarro, appearing on CNBC at 3 p.m., appeared to reverse the course set by Mnuchin-and with it the market. Last week, the White House introduced a 25 percent tariff on $50 billion of Chinese imports to the country. [Full Article...]

Harley-Davidson moving some production overseas; Donald Trump 'surprised'

Harley-Davidson moving some production overseas; Donald Trump 'surprised' The company operates manufacturing facilities in Brazil, India and Australia, and expects to start operating the new Thailand factory this year. Harley-Davidson's stock dipped 6 percent on Monday as it became embroiled in a raging trade dispute between the US and Europe, which accounts for a significant amount of its sales. [Full Article...]

Trump planning new curbs on Chinese investment in the US

Treasury Secretary Steven Mnuchin tweeted the report was "fake news", saying the statement was not specific to China, but all countries who are tying to steal United States technology. Goods assembled and exported in one country often depend on components manufactured in another, after being designed in yet a third country, making the national trade deficit focused on by President Trump an u... [Full Article...]

Turkey’s Erdogan to assume sweeping powers after victory in presidential election

Turkey’s Erdogan to assume sweeping powers after victory in presidential election Polls closed at 5 p.m. local time, and though Turkey does not have exit polls, the Supreme Electoral Council said it hoped to announce preliminary results before midnight. Ince's opposition Republican People's Party (CHP) had 23 percent. One of the big takeaways from the election is that the Kurdish Peoples' Democratic Party (HDP) passed the 10% threshold to enter parliament. [Full Article...]

Harley-Davidson To Shift Some Production Overseas Due To Trade War

Harley-Davidson To Shift Some Production Overseas Due To Trade War European tariffs imposed as retaliation for President Donald Trump's taxes on imported steel and aluminum will add about $2,200 on average to the cost of every Harley-Davidson motorcycle exported to the continent, the company said Monday. [Full Article...]

Kentucky Bourbon Warehouse Collapse Sends 9,000 Booze Barrels Rolling

Kentucky Bourbon Warehouse Collapse Sends 9,000 Booze Barrels Rolling Nelson County Dispatch Director Milton Spalding said it's unclear what caused the collapse. WLKY reported that water samples from the area have come back clean and the EPA is on scene. Mr Mattingly said there was a 3.5m (12ft)-deep basement under the warehouse, and the emergency services hoped most of the whiskey went into it. It could be days or weeks before the company fully assesses d... [Full Article...]

Elon Musk has it out with suspected Tesla saboteur

Elon Musk has it out with suspected Tesla saboteur There's still no suggestion that the employee had any higher agenda than settling a petty dispute with Tesla . Tesla then filed a $1m lawsuit against Tripp . Tesla also claims in its lawsuit that Tripp installed software on the computers used by three other employees "so that the data would be exported even after he left the company and so that those individuals would be falsely implicate... [Full Article...]

Canada Senate Passes Legalization of Recreational Marijuana

Canada Senate Passes Legalization of Recreational Marijuana The Senate voted 52-29 in favour of the bill, paving the way for a fully legal cannabis market within the next three months. Canadians will soon be free to consume recreational marijuana throughout the country following Parliament's passing of the Cannabis Act . [Full Article...]

Eurozone gets deal to pave way for end to Greece's bailout

Eurozone gets deal to pave way for end to Greece's bailout Officials said on Thursday that only part of the outstanding 22 billion euros owned by the International Monetary Fund and euro central banks could be bought out, adding that talks were still ongoing. "We'll have to see if the pledges will be kept, especially as they depend on worldwide developments as well", he said. "What follows is tough oversight which no other country has experienced in a p... [Full Article...]

Iran to oppose proposal to raise OPEC crude output

Iran to oppose proposal to raise OPEC crude output A production rise of about 1 million bpd was emerging as a consensus, OPEC sources told Reuters on Thursday, adding that Iran could agree to that under certain conditions. Some investors were expecting more from OPEC, and United States crude futures spiked 3.5% to $67.80. The meeting continued for around two hours after Zanganeh left. [Full Article...]

OPEC agrees to pump more oil and crude prices jump

OPEC agrees to pump more oil and crude prices jump Opec's decision confused some in the market as the producers gave opaque targets for the increase, making it hard to understand precisely how much more it will pump. Saudi Arabia and Russian Federation on Thursday used a pre-OPEC meeting in the Austrian capital to float a proposal of bringing an extra one million barrels each day to the market. [Full Article...]

Britain backs European Union duties on American goods, May’s spokesman says

Britain backs European Union duties on American goods, May’s spokesman says A 25 percent tariff, previously floated by Trump, would add around 10,000 euros ($11,600) to the sticker price of a European built vehicle, the European Commission said in a report obtained by Bloomberg News that was prepared ahead of next week's summit assessing tariff threats. [Full Article...]

A Supreme Court Ruling Could Make Your Online Purchases More Expensive

A Supreme Court Ruling Could Make Your Online Purchases More Expensive Crosby says the Supreme Court's ruling will change that. However, nothing will actually change until states (or the federal government) enact new regulations to force the collection of sales tax. IN lawmakers anticipated the ruling in 2017 when they passed a law that imposed sales tax on companies that did at least $100,000 worth of business or more than 200 separate transactions in the state in... [Full Article...]

European Union to begin counter trade tariffs against USA on Friday

European Union to begin counter trade tariffs against USA on Friday Late last month, Trump proceeded to infuriate USA allies - from the European Union to Canada and Mexico by imposing tariffs of 25 percent on imported steel and 10 percent on aluminum. Case in point: Daimler AG late Wednesday slashed its earnings outlook for the year, saying fewer Chinese consumers will buy Mercedes-Benz SUVs because of tariffs Beijing is slapping on autos imported from the US. [Full Article...]

Will Opec meet end the long rally in global oil prices?

Will Opec meet end the long rally in global oil prices? All and all, considering the current global oil market which is nearly balanced and well-supplied and the global economy which is stepping toward a stronger and more resilient position, hurting the oil supply and demand circle is not going to be a good idea. [Full Article...]

Iran says doesn't think OPEC can reach deal

Iran says doesn't think OPEC can reach deal The proposal has yet to win the backing of all OPEC members, and may meet resistance from more hawkish countries in the group including Venezuela and Algeria as well as Iran. But a member of Nigerian delegation to the event said as a loyal member, Nigeria will support the position of OPEC leadership to retain the current supply level in order stabilise the market. [Full Article...]


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