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China offers to buy US$70b in United States goods

Imports rose 26 per cent from a year ago to $187.9 billion, up from April's 21.5 per cent growth, customs data showed Friday. Beijing in recent weeks extended an olive branch, announcing plans to increase purchases from overseas and reduce tariffs on automobiles and some consumer products ranging from food and cosmetics. Read More »

Macron Meeting At G-7 Scrapped - At Least For Now


The White House said he would leave the two-day summit in Canada four hours earlier than originally planned. But Russia appeared to turn down Trump's suggestion. "I think we would be making an error if we said we are ready to give up everything, not to talk about the Paris Accord or climate, or trade, just to have that signature". Read More »

TSB chief under pressure to quit after rebuke from MPs


The influential Treasury Select Committee today said it has "lost confidence" in TSB chief executive Paul Pester, heaping pressure on him following a heavily criticised response to the bank's IT meltdown. In a reply to Morgan, Meddings said the bank had "made good progress in resolving the recent IT issues, and TSB is now functioning at, or close to, normal for the majority of TSB customers". Read More »

China May exports rise 12.6 pct, imports up 26 pct


And the trade balance with Canada fell back into deficit at -$0.8 billion versus the prior $0.3 billion surplus. Exports of metal and non-metallic mineral products, consumer goods and energy products were up in April, partially offsetting lower exports of aircraft and other transportation equipment and parts. Read More »

Apple expected to order fewer iPhone devices in 2018


In March, Morgan Stanley said it expected more than half of Apple's revenue growth over the next five years to come from services . "At least part of this lower order forecast probably relates to Apple just being a little more realistic". Read More »

Oil gains on Venezuela export cuts, OPEC production levels


The U.S. government has quietly asked Saudi Arabia and some other OPEC producers to increase oil production by about 1 million barrels a day, according to people familiar with the matter. A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC producing countries in Vienna, Austria September 22, 2017. Read More »

Trump falsely accuses Canada of burning down White House

Trump heading to Quebec for the meeting with the leaders of the other so-called G7: Canada France, Germany, Italy, the United Kingdom, and Japan. The US president has frosty relations with Canadian Prime Minister Justin Trudeau , the summit host. Read More »

Google Bans Development Of Artificial Intelligence Used In Weaponry


There are scant details on the AI missile research, but Reuters quoted one USA official as saying that an early prototype of a system to track mobile missile launchers was already being tested within the United States military. Google's $800 billion parent company, Alphabet, is considered one of the world's leading authorities on AI and employs some of the field's top talent, including at its London-based subsidiary DeepMind. Read More »

Coinbase to Receive SEC Registration and Expand Digital Asset Listings


Circle , a trading desk for cryptocurrencies, also has strong financial backing, including $110 million Series E funding that the company announced last month. The moves "will set Coinbase on a path to offer future services that include crypto securities trading, margin and over-the-counter trading". Coinbase has announced that it is moving forward with a plan to acquire licensure that would allow the company to begin offering blockchain-based securities and participate in the ICO market . Read More »

Ghana Football Association Dissolved Following Documentary Exposing Widespread Corruption


GFA however says it is working with global football governing body, FIFA to implement a national integrity initiative that will fight the vice of match manipulation. In When Greed and Corruption Become the Norm aired by BBC's Africa News, the journalist exposes some of Ghana's football insiders, releasing footage of officials and referees accepting cash bribes before games, which is explicitly against both FIFA and Ghana Football Association's (GFA) rules. Read More »

New flying vehicle backed by Google co-founder is ready for takeoff


The California-based company revealed the final version of the Kitty Hawk Flyer on Wednesday, saying it will begin offering test flights for interested buyers. The commercial vehicle is powered by a lithium-polymer battery, which can be used for about 20 minutes before it needs recharging. Despite now looking like a consumer product, CNN's Rachel Crane complained that "it's not the most comfortable thing" she has ever sat in. Read More »

United Kingdom publishes Brexit customs plan after May-Davis fight


The paper proposes that if there is no final agreement, there should be a temporary customs arrangement lasting up to 12 months. He said they would be examining the proposals in the light of three questions: "Is it a workable solution to avoid a hard border?" The "backstop" plan is "something that we don't want ever to happen", she said. Read More »

Milestone for US job market: More openings than unemployed | AP business


With employers struggling to fill openings, the number of available jobs in April rose 1 per cent to 6.7 million from 6.6 million in March, the Labor Department said Tuesday . In April 2000, the last time the unemployment rate was as low as it is now, hourly pay jumped almost 4 per cent from the previous year. For example, data from the Federal Reserve Bank of Atlanta show that workers who switch jobs are starting to enjoy healthier pay gains. Read More »

Senators demand answers from Facebook after data sharing report


Mr Nix in his previous testimony to lawmakers denied that Cambridge Analytica had ever been given data by Aleksandr Kogan, an academic researcher. "The negativity that has been swirling around social media's use of our personal data since the Cambridge Analytica scandal broke is clearly impacting on Brits' decisions to use and rely upon these platforms". Read More »

Tesla reveals second picture of its upcoming Model Y


The NTSB noted in its preliminary report that it is continuing work with the California Highway Patrol and the California Department of Transportation in investigating the accident . Tesla hasn't issued a statement regarding the NTSB's report but in a blog post published a few weeks ago, the EV maker said the following: "The driver had about five seconds and 150 meters of unobstructed view of the concrete divider with the crushed crash attenuator, but the vehicle logs show that no action ... Read More »

London share trading delayed by one hour


The exchange eventually began trading at 9.00 a.m. BST (4.00 a.m. ET), following a 15-minute auction to determine the opening prices of securities traded at the venue. Last month, Euronext experienced a glitch that caused problems publishing major indices, including the French Cac 40. In March, equities and futures trading on Germany's Deutsche Burse failed to start on time amid " technical issues " with its trading system. Read More »

Poundworld shops could close after buyer pulls out of talks

Flacks, a United States firm which was linked to a bid at the weekend, is not regarded as a serious bidder for the UK-based bargains chain. It emerged over the weekend that Alteri Investors, the backer of troubled chains such as Brantano and Jones Bootmaker, was in discussions over a possible rescue deal for Poundworld. Read More »

Trudeau expects 'difficult' conversations with Trump at G7


In its claim, Mexico accused the US of using national security as an excuse to impose 25 percent tariffs on steel and 10 percent tariffs on aluminum, saying the true motivation is economic. A Canadian government official, speaking on the condition of anonymity to discuss diplomatic relations, said there have always been one-on-one talks as part of the NAFTA negotiations but noted that the trade pact is a three-country agreement and that any resolution would require all three countries to ... Read More »

Heinz Salad Cream to be renamed after 104-years of production


The shocking move comes after it was revealed that only 14 per cent of shoppers admitted to using the sauce on salads , suggesting that the name no longer reflects what people use it for. People don't understand how to eat it is the problem according to Heinz's Joel Hughes, who said: "As a market leading business, Kraft Heinz continues to audit its portfolio in order to meet the needs of consumers". Read More »

Video shows rats crawling through bags of Burger King buns


As of late Tuesday, Johnson's post had generated more than 742,000 views and 22,000 shares. The Division of Public Health Office of Food Protection received a complaint on June 1 after the video footage surfaced of the mice appearing to scurry about on the rolls in the restaurant, spokeswoman Andrea Wojcik said in a public statement from the health agency. Read More »

Chuck Schumer Rips Trump Amid Reported ZTE Deal


They'll have to pay a $1 billion fine, plus $400 million in escrow in case they do more shady sh*t. ZTE, the Chinese telecommunications company trying to resolve a seven-year U.S. ZTE did not immediately respond to requests for comment. It will also allow unfettered site visits to verify that U.S. components are being used correctly, and post calculations of USA parts in its products on a public website. Read More »

Cadillac Super Cruise is finally getting the roll-out it deserves


GM is "committed to ushering in a new era of personal transportation, and technologies like these will enable it", Reuss said in a statement . General Motors Co said on Wednesday it will expand the roll-out of its driver assistance feature Super Cruise to all its Cadillac models beginning 2020. Read More »

ZTE will reportedly pay over $1 billion to lift USA ban

The preliminary deal includes a $1 billion (roughly Rs. 6,700 crores) fine against ZTE plus $400 million (roughly Rs. 2,700 crores) in escrow to cover any future violations, sources said , adding that the terms were in line with Reuters reporting on the usa demands on Friday. Read More »

Bayer to complete Monsanto takeover


It "intends to use the net proceeds from this transaction and the bond issues to repay amounts drawn under the syndicated loan facilities agreement for the acquisition of Monsanto ". merger-enforcement case, the government said. The capital increase was "a significant component of the financing for the acquisition of Monsanto and the final equity measure associated with this undertaking", said chief executive Werner Baumann. Read More »

EU says tit-for-tat tariffs against US ready in July

European Commission Vice President Maros Sefcovic said Wednesday that formalities in finalizing the EU's response should be completed this month and "that the duties start applying from July". The European Union originally drew up the list in March but pledged not activate it unless US President Donald Trump followed through on his threat to impose 25 percent tariffs on steel imports and 10 percent on aluminium. Read More »

Kairana effect? Rs 8,000 crore aid for sugar industry


The package is also expected to include a scheme worth over Rs 4,400 crore for increasing the capacity for production of ethanol, one of the by-products of sugarcane. This, along with the 30 LMT buffer stock, will regulate supplies in the market and help prop up sugar prices, sources said. CCEA has also made a decision to fix the minimum selling price of white/refined sugar at Rs 29 per kg and impose stock holding limits on sugar mills, Food minister Ram Vilas Paswan told reporters here. Read More »

Commuters in Bolton struggle to board Northern Rail train


We say to Prime Minister Theresa May: if, as he did last week, your Minister refuses to acknowledge his failings and refuses to accept responsibility for the interminable disruption for which he - whether he likes it or not - is ultimately responsible, then you must. Read More »

Elon Musk fends off challenge to Tesla control


Tesla shareholders voted against a proposal to split the chairman and chief executive jobs, both of which the billionaire holds, and in favour of the re-election of three directors, whose removal was also demanded by a group of investors. Shares fell as much as 7 percent after Musk's snub, evaporating $2 billion from Tesla's stock market value. Musk told investors that an announcement about a China factory would come "really soon". Read More »

92 million MyHeritage users had their data quietly swiped


In a blog post on Monday, a company official said MyHeritage had been contacted by an independent security researcher about a file found on a private server that appeared to contain information from MyHeritage users. Having a hashed password does not mean that the real password is revealed. More sensitive information, such as credit card information, family trees, and DNA data, are stored in a different place than email addresses and passwords, and MyHeritage believes that information was ... Read More »

Lord & Taylor to close storied flagship on Fifth Avenue


Saks Fifth Avenue had a 6 percent comparable sales increase. Shares of the department store chain dropped as much as 12.5 percent in early trading on the Toronto Stock Exchange, and were down 6.5 percent at C$9.93 at 9:40 a.m. At its European division, Ms. Foulkes said she has already gotten rid of layers of management to encourage faster decision making and bolster results. Read More »