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China: ‘Capricious’ trade policies will hurt United States workers

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In trade wars, there tend to many casualties and few winners. Canada also promised retaliatory tariffs worth $12.8bn on USA products including steel, aluminium, whiskey and orange juice. Trump has brushed aside concerns over a trade war, saying the USA can't lose because it already has such a significant deficit. Last week pork was included in a second round of tariffs to be imposed on July 6. Read More »

Stocks fall with U.S. dollar; oil slips before OPEC

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The U.S. average for gasoline stood at $2.87 a gallon on Thursday. Index provider MSCI said late on Wednesday it would reclassify Argentina and Saudi Arabia as emerging market countries next year, broadening the investor base for both countries. Read More »

Volvo S60 Revealed in Full, Will Start from $36795

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Volvo Cars and its new USA factory illustrate the conflicts created by President Donald Trump's proposals to impose tariffs of as much as 25 percent on imported vehicles and auto parts as a way to encourage more US manufacturing and press trading partners to drop tariffs on American goods. Read More »

Hardline ally fires migrant ultimatum at Merkel as Trump wades in

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Merkel opposes any unilateral move by German Interior Minister Horst Seehofer, who is also CSU chairman, that would reverse her 2015 open-door policy on migrants and undermine her authority. For Merkel, in power for over 12 years, the stakes could not be higher as she leads an uneasy coalition government with a narrow majority that took half a year to cobble together. Read More »

Trump threatens new tariffs on Chinese imports

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The Trump administration said Friday that it will impose a 25% tariff on $50 billion of Chinese exports. China threatened to retaliate, leading Trump to propose broader penalties. The moves and counter moves on tariffs came as the two countries held several rounds of talks following Trump's demand to slash bilateral trade deficit by USD 100 billion in a month followed by USD 200 billion to address the USD 375 billion deficit. Read More »

Pioneer Sees Oil At $100 Should OPEC Fail To Increase Production

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A decision to increase output could be taken even with Iran refusing to sign up, as has happened before in OPEC. "We need to release supply to the market", Saudi Arabian Energy Minister Khalid al-Falih told reporters in Vienna . President Donald Trump to pump more oil. Oil catches some much-needed lift on USA crude stocks declines. China on Thursday canceled a trip to West Virginia by executives from China Energy Investment Corp to discuss a planned $83.7 billion investment in the state ... Read More »

Telstra users face another mobile phone outage

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Many users have turned to social media and AussieOutages to complain about the latest Telstra connection problems, with some reporting they can only make SOS calls and others unable to use their smartphones since late on Monday night. Telstra yesterday took to Twitter to address reports of an outage, clarifying that the issue was not nationwide. In a statement, the company revealed the software problem "triggered multiple elements across the network to fail" and even backup systems created ... Read More »

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

The retaliatory measure comes in response to USA tariff hikes on steel and aluminum that were imposed on European Union member countries on June 1, with the White House citing grounds of national security. Warren looks to block Trump pick for consumer agency Trump leading us further down the trade rabbit hole MORE told a Senate panel on Wednesday that the Section 232 tariffs were created to revive the steel and aluminum industries that have been harmed by imports. Read More »

China Calls Trump Threat of More Tariffs ‘Blackmail’

Slapping tariffs on $200 billion more in goods, in addition to the $34 billion already set, would likely mean that nearly all Chinese products would face some import tax-though this depends on whether or not the new tariffs are on goods already taxed. Read More »

Telstra to slash 8000 jobs in major overhaul

Its services will be sold to Telstra, wholesale customers and Australia's National Broadband Network, controlling assets with a book value of about A$11 billion. Capex to be in the range of $3.9 billion to $4.4 billion. Reducing the number of consumer and small business plans from 1800 to 20. TELCO giant Telstra has announced it will be cutting nearly a quarter of its workforce in a massive company overhaul, with an aim to "eliminate customer pain points". Read More »

Australian telecom giant Telstra to axe 8000 jobs

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It is understood that one in four executive and middle management roles will be slashed. Chief executive Andy Penn said the dividend for FY18 would be 22 cents per share and dividend decisions for FY19 would be announced during the financial year. Read More »

Rats chew through more than $20,000 of cash at Indian ATM

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However, as noted in a local newspaper, the ATM malfunctioned on May 20th and was out of service until June 11th. The company had deposited Rs 29 lakhs inside the machine on May 19 and the ATM stopped working the next day. "The suspicious timing of the ATM not functioning along with the length of time for which it was out of order has caused some to question the incident". Read More »

High Speed NBN Uptake Triples

As a result, around 44 percent of all NBN-connected premises are on speeds of 50Mbps or higher, up from 16 percent in May a year ago. Meanwhile, NBN Co's average bandwidth network congestion tally, not including Sky Muster satellite services, has dropped from more than five hours to less than 30 minutes per service, per week compared to this time past year. Read More »

Clydesdale banks on Branson brand appeal in Virgin Money merger

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CYBG has reached a takeover deal with Virgin Money that values the bank at £1.7 billion but is likely to lead to more than 1,500 job losses. The merged company will be around twice the size of its largest rival among Britain's smaller banks and be able to draw on the firepower of the Virgin brand, which the combined group will pay a royalty to keep. Read More »

Merkel to Trump: Falling German Crime Stats 'Speak for Themselves'

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More than 1.6 million migrants, mostly Muslims fleeing wars in the Middle East, have arrived in Germany since 2014. Seehofer's "migration master plan", which Merkel last week refused to endorse, would see asylum seekers arriving at Germany's borders turned away if they have no identification papers, have already had an asylum claim rejected in Germany, or are already registered in another country in the EU - proposals that rights group say contravene European and worldwide agreements. Read More »

China: Australia needs to end "Cold War mentality"

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The letter was released as concerns mounted that Australian government ministers were buying into United States paranoia about Chinese tech firms, and there were fears that Huawei would be banned from bidding in Australia's upcoming 5G mobile auction. Read More »

Amazon Hub lockers now available to 500,000 U.S. residents

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Folks who are enrolled don't have to wait at home for packages to be delivered - instead, property staff on site tender shipments not just from Amazon, but from other shops, websites, and even friends and family and handle common delivery tasks, like signing for packages. Read More »

Starbucks Announces Major Store Closings Coming in 2019

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The Seattle-based company said it would close underperforming stores in "densely penetrated markets" and slow its rate of store growth. "We must move faster to address the more rapidly changing preferences and needs of our customers". The company said that so far in 2018, Frappucino sales have fallen by 3 percent. Starbucks said it would provide additional details on its plans at an investor presentation on Tuesday afternoon. Read More »

Verizon to stop sharing phone-location data to third parties

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LocationSmart is supposed to obtain permission from cellphone owners before serving location data, but a bug in its website let anyone track any cell number from a USA carrier without getting consent. Verizon said the same. T-Mobile and Sprint haven't announced any policy changes at this time. It's not clear how much money the mobile operators make from selling their users' locations to third parties but it's clearly enough to make them try to weasel their way out of agreeing to stop the ... Read More »

Alexa, send up breakfast: Amazon launches Echo for hotels

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Though Amazon's Alexa-powered Echo speakers are growing in popularity across the domestic realm - helping users control their doors, lights, and search the web using nothing but their voice - the internet giant has been targeting the hospitality sector for a while already. Read More »

Microsoft takes a stand against ICE separating parents from children

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But this week, following the revelation that the agency was keeping children in metal cages, the company isn't so sure. Microsoft told Wired reporter Nitasha Tiku that the removal of the portion referencing ICE was a "mistake", and attributed it to an employee editing the blog after seeing discussions about it on social media. Read More »

General Electric drops out of Dow index

Walgreens Boots Alliance ( WBA ) will replace GE on the Dow Jones index starting June 26. The company has pared back some of these businesses in recent years, selling NBC Universal to Comcast and divesting most of its finance business. Since the founding of the index, "the USA economy has changed: consumer, finance, health care and technology companies are more prominent today and the relative importance of industrial companies is less", said David Blitzer, managing director and chairman of ... Read More »

Fashion Giant ASOS To Ditch Mohair, Silk, Cashmere And Feathers

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In a move set to shake up the online shopping world, clothing giant, ASOS , has announced it will ban the sale of cashmere, silk, feathers, down and mohair from all their platforms come January 2019. Silk is produced by silkworms when they form cocoons. As a result of the footage more than more 140 global retailer - including Topshop, H&M, and Marks & Spencer - have banned the material. Read More »

Donald Trump Defends Tariffs: ‘We Can No Longer Be the Stupid Country’

During his remarks at the National Federation of Independent Businesses today, President Trump took a moment in between talking about immigration and child separation to go after Canada again. Trump said Tuesday progress was being made in slow-moving talks to update the NAFTA deal between the United States, Canada and Mexico , but he held out the prospect of striking bilateral pacts if a three-way deal could not be reached. Read More »

McDonald’s Announces Switch To Paper Straws To Combat Plastic Pollution

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The changeover to paper straws is expected to be complete next year. McDonald's said that plastic straws would still be available "for those that require it", but they will be kept behind the counter. "We do not have any further details to share at this time on the tests in other markets including the USA later this year", a McDonald's spokesperson told The Daily News . Read More »

Oil falls as flaring US-China trade dispute blunts risk appetite

The other key development for global markets is the escalating trade dispute between the United States and China, in which both sides have threatened stiff tariffs on each others' key export goods. Iran's representative to OPEC, Hossein Kazempour Ardebili, said Iran along with Venezuela and Iraq is going to veto Saudi Arabia's proposal to increase oil production in cartel's June 22 meeting in Vienna. Read More »

Trump tariffs: Markets fall as trade war fears mount

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The ongoing trade dispute between the United States and China knocked the yuan to 6.4660 per dollar, its weakest in more than five months in the offshore market. China responded with a 178.6 percent tariff on all imports of sorghum to the United States. China does not import almost enough United States goods to hit back if Trump imposes the full tariffs on $450 billion worth if goods that have been threatened . Read More »

Restaurant receipt asks chef to 'spit' in customer's cheeseburger

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She acknowledged printing out it, he said, but could not explain what happened. The father says the waitress seemed pleasant but suspects the request was made when there was a mix-up with his order. The waitress was sacked immediately. Mays took up the manager's offer to compensate him for the meal. 'He [the manager] was saying, "How can we compensate you?"' Mays said. Read More »

Sign asks Dunkin Donuts customers to report employees speaking foreign languages

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The man admitted he had posted a similar sign in the past, and said customers complained. WBAL producer Gillian Morley, who happened to be one of those customers, tweeted a photo of the sign on the counter. In response to the sign, people on social media expressed their disapproval and some demanded a new store manager. "Dunkin' Donuts and our franchisees share the goal of creating a welcoming and hospitable environment for all guests", the statement said. Read More »