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Trump pressures Saudi Arabia to increase oil production

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The cartel, which had curtailed production in 2016, also said it would boost output more later in the year to offset limits on Iranian oil sales resulting from the re-imposition of US sanctions on Iran . Iran being its third largest supplier of oil, India is poised with a possible oil problem after the deadline. "Putting aside the fact that Saudi Arabia has no such capacity to bolster its crude output, this demand [by Trump] could be inferred as an order for the kingdom to walk out of ... Read More »

Faster delivery of nearly everything is the next big thing | AP business

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Dave Clark, Amazon's senior vice president of worldwide operations, said the new program is not a response to the president, but a way to make sure the company can deliver its growing number of orders. Clark said that the new program will supplement Amazon's existing shipping setups, and that all its usual relationships with partners, including the USPS, will remain intact. Read More »

'This isn't the end,' Enbridge and pipeline opponents agree

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He added replacing Line 3 ensures the safe continued operation of the line that is needed to supply Minnesota and area refineries. The company will work with the Fond du Lac Band during the next two months to determine the path through or around the reservation. Read More »

Adidas Warns Customers of Website Hack Compromising Personal Data

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Adidas has warned millions of US customers of a potential data breach . Hackers stole information from millions of users' information that includes usernames, passwords, and contact information. The company reassured customers that credit card information and fitness data was most likely not included in the breach, but did not go into specifics as to how hackers did not get that information. Read More »

Trump asked Saudi Arabia to boost its oil production by 2M barrels

Saudi state media reported that during the call, the Saudi king and Trump emphasized the need to preserve oil market stability and efforts of oil-producing countries to compensate for any potential shortage. Oil prices have spiked in the past week, and on Thursday crude rose above $74 a barrel for the first time since late 2014. "If they do, it means the State Department is running OPEC". Read More »

US' Iranian oil embargo to hurt refiners, chemical firms

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Russia's Novak said today that OPEC/NOPEC could gradually reverse up to a total of 1.5 million barrels per day of production. Crude oil prices gained a bullish momentum to trade above $70/ barrel, despite OPEC's decision to increase output by 1 million barrels. Read More »

Elon Musk Accused Of Stealing Farting Unicorn Image

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The caption on the mug reads: "Electric cars are good for the environment because electricity comes from magic". Musk responded: "We gained no financial benefit". But Edwards' daughter, Prank, then tweeted that this detail - that he'd offered to pay Edwards, twice - wasn't accurate. Musk mentioned Jovanovic, whose Twitter biography says, "Twitter is great to keep up with my hero...@elonmusk", in a contentious exchange with Edwards's daughter Robin Edwards, who performs music under the name ... Read More »

Trump asks Saudi Arabia to increase oil production

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The world's top oil exporter plans to pump as much as 11 million barrels of oil per day (bpd) in July, after OPEC agreed with Russian Federation and other oil producers to raise output by about 1 million bpd. As the summer driving season moves into high gear, retail gasoline prices have been as high as $2.96 a gallon, according to the Energy Information Administration. Read More »

End of an era: Toys 'R' Us stores close for good

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But sources have told The New York Post that Walmart executives had identified some 800 Walmart stores within five to 10 miles from an old Toys "R" Us location to carry extra toy inventory. "I'm sad", Tina Ohemenj said. 'One day, our children will see our pictures and ask: "Who are these people?" "Every Toys "R" Us worker is leaving with zero, and Bain Capital is leaving with $475 million in profits", said Forbes, citing a report by Bloomberg that the private-equity owners - KKR ... Read More »

GM may slash American jobs because of Trump tariffs

In a filing with the Commerce Department , GM said that the tax would invite retaliation from other countries and drive up the cost of imported components, increase the cost of vehicles, and stifle demand. On Wednesday, two major auto trade groups warned that imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten industry spending on self-driving cars. Read More »

"Swiss Bank Money Flying. India Losing": Mamata Banerjee Slams Centre

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The following year, these funds fell by 10 per cent to CHF 1.8 billion, followed by further drops of around 33 per cent and 45 per cent in 2015 and 2016, respectively. "Indians' deposits however grew 50 per cent". Black money is expected to be one of the important issues in the general elections scheduled to be held in 2019. Read More »

Boeing unveils plans for ‘hypersonic’ plane to slash worldwide travel times

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The swooping, streamlined aircraft will accommodate more passengers than a typical long-range business jet, but will be smaller than Boeing's popular 737 narrow-body airliner. While this design specifically is meant to carry passengers at top speeds, a statement from Boeing did leave room for the possibility of other hypersonic designs with commercial or military potential. Read More »

China Says Its Trade Practices Benefit World

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But the rally fizzled in Asian trading, driving MSCI's ex-Japan Asian equity index nearly one percent lower to a fresh two-year low. ENERGY: Oil futures eased after rallying on a report that showed U.S oil inventories dropping more sharply last week. Read More »

UK Beer Rationing Begins as Food-Grade CO2 Supplies Dwindle

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The company was even forced to restrict sales of beer, cider and soft drinks to between five and 10 cases per customer. A Wetherspoon spokesman said: "Wetherspoon has the advantage that it sources its wide range of drinks from a number of suppliers, so has not been too badly affected". Read More »

Amazon needs help delivering packages. Here's how to cash in

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Amazon said it was also committing $1 million toward funding startup costs for military veterans, offering $10,000 reimbursements for qualified candidates to build their businesses. "Having that kind of control and that kind of income opportunity for your family is something that many people are going to love and want to be a part of". Read More »

U.S. plans limits on Chinese investment in USA technology firms

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Background: Trump has ratcheted up trade measures against China, and the disagreements over trade between the two countries have led to concerns over a potential trade war. Li also said China would buy more farm products, without elaborating. "China and the European Union firmly oppose trade unilateralism and protectionism and think these actions may bring recession and turbulence to the global economy". Read More »

Rupee depreciates to 69, but no worries!

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Last time, the rupee was at a historic low of 68.86 on November 24, 2016 and a lifetime closing low of 68.80 on August 28, 2013. The value of Indian rupee has dropped to an all-time low as it slid 0.7 per cent reaching nearly 69.0925 per dollar on June 28. Read More »

Tiny Instagram Lite app surfaces on Google Play with absolutely no fanfare

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While it won't save you data when you try to upload photos, it does save you data and space when downloading, installing, and updating the app itself. Less room needed for the app means more room to store photos on your phone. It contains most of Instagram's core features, including posting photos, editing pictures with filters, sharing multiple photos in stories (and adding text), watching other people's stories, and browsing content on the Explore tab. Read More »

Figure Salary Qualifies as 'Low Income' in San Francisco

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Not only is the low-income gauge the highest such limit in the country, but it represents a 10% increase over a year ago, per the San Jose Mercury News . "That kind of shocks you". "Raising a family in the Bay Area is very expensive", said Galindo, whose partner is also a local teacher. Tampa Bay ranked 11th among metro areas in a recent national housing confidence study, up five spots from 2016. Read More »

North American stock markets lower at late-morning, loonie edges higher

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Louis. USA stocks sank in a broad sell-off on Monday, with the S&P 500 dropping more than 1.5 percent and technology firms bearing the brunt of an escalating trade dispute between the United States and other leading economies. US Treasury Secretary Steven Mnuchin later clarified that curbs would apply, not specifically to China, but "to all countries that are trying to steal our technology". Read More »

Trade war or not, China Inc already reining in American brands

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Mnuchin on Wednesday increased pressure on Congress to approve the Foreign Investment Risk Review Modernization Act, or FIRRMA , saying lawmakers must act fast. "President Trump and Washington agree that China's new Made in China 2025 report gives Chinese hi-tech companies an unfair advantage". The White House announced on Wednesday that it will not limit Chinese investment in US companies beyond what a current bill in Congress already promises to do. Read More »

Trump threatens Harley-Davidson

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President Donald Trump's tariffs on steel and aluminum imported from the EU. As CNN is reporting, Harley Davidson Motorcycles is shifting production overseas, promptly reacting to retaliatory tariffs from the European Union. "Harley must know that they won't be able to sell back into USA without paying a big tax!" "The problem isn't that Harley is unpatriotic; it's that tariffs are stupid", the Nebraska senator said. Read More »

Harley-Davidson To Shift Production Overseas To Offset EU Tariffs

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Harley must know that they won't be able to sell back into US without paying a big tax! It follows a proposed plan by Harley-Davidson to move some of its production overseas . "I fought hard for them and ultimately they will not pay tariffs selling into the European Union, which has hurt us badly on trade, down $151 Billion". Read More »

Trump softens threat of new curbs on Chinese investment in United States firms

Trump's statement said that "such legislation will provide additional tools to combat the predatory investment practices that threaten our critical technology leadership, national security, and future economic prosperity". "It is no secret that China has been working tirelessly to become a global tech leader", said Theresa Payton, former White House Chief Information Officer under President George W. Read More »

US stocks slide on escalating US-China trade tension

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However, his confusing interview to CNBC did little to clarify the situation, as he said the administration was "not singling out China" but also that Treasury would release a report on Friday on the issue of investment restrictions on China. Read More »

Haftar hands control of key Libya oil facilities to allies in east

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EDT on Monday, the USA benchmark WTI Crude was up 0.25 percent at $68.75, while Brent Crude was down 1.57 percent at $74.14. USA light crude was 65 cents higher at $71.18. Additionally, a power outage at a Syncrude oil sands mine in Canada and a spike in oil export uncertainty in Libya have contributed to the higher prices, basically erasing the knee-jerk price decline from last week as the market anticipated OPEC's decision. Read More »

Conagra to buy Pinnacle Foods for $8.1 billion

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The acquisition is a victory of sorts for Conagra Chief Executive Officer Sean Connolly, who had earlier unsuccessfully tried to buy Pinnacle Foods as CEO of Hillshire. In a press release announcing the acquisition, the companies said the transaction also includes Pinnacle's outstanding net debt. The company that owns such iconic brands such as Birds Eye and Duncan Hines is joining a family of names featuring Hunts and Healthy choice. Read More »

Facebook just walked back its broad ban on cryptocurrency ads

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But as part of its effort to guard against potential abuse, the social network will uphold its ban on companies that are promoting binary options and initial coin offerings (ICOs ). However, cryptocurrency-related services and businesses, such as exchanges, will now be allowed to run ads. Companies are still banned from running ads promoting binary options and initial coin offerings on Facebook. Read More »

Oil is sliding after OPEC cuts a deal to raise production

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Brent's premium to the USA benchmark narrowed sharply. The slide on Wall Street pressured oil, analysts said . That "lit a fire" under oil markets today, said Matt Smith, director of commodities research at ClipperData. Thanks to the Organization of Petroleum Exporting Countries' (OPEC) agreement to restrict their oil output by 1.8 million barrels of oil per day (bpd), crude oil prices rose to $80 per barrel last month for the first time since 2014. Read More »

Harley-Davidson move 'consequence' of United States tariffs

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He pointed to the company's facilities in India and Brazil and plans for production in Thailand, which Mr. Trump tweeted about on Tuesday. It appears that move has little to do with Monday's decision by the company to move more manufacturing out of the United States. Read More »