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Pace of rising home prices slowed in Q2

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Lower prices in the GTA and tighter federal mortgage stress tests dragged down the rest of Canada over the quarter, which "slowed the market to a standstill in much of the country" the Royal LePage report said. While prices fell nearly 2 per cent in the GTA in the second quarter compared with the same period a year ago, they were up 11 per cent in the Niagara and St. Read More »

US Crude Oil Price Rallies After Slump

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Prospects of USA sanctions on crude exports from Iran, the world's fifth-biggest oil producer, has helped push oil prices up in recent weeks, with both crude contracts trading near 3-1/2-year highs until Wednesday. They can increase investment in US production, raising employment in extraction and raising demand for oil drilling equipment. Libya's national oil production fell to 527,000 barrels per day from a high of 1.28 million bpd in February following recent oil port closures, the head ... Read More »

Pfizer delays drug price hikes after talking with Trump

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Wells Fargo Securities issued a report this month that found that Pfizer raised prices on 41 drug products on July 1 and lowered prices on five products. Specifically, the company boosted list, or wholesale, prices on more than 40 medicines; more than 100, if different dosages were counted. Azar responded to Trump's tweet on Monday with a declaration that "change is coming to drug pricing, whether painful or not for pharmaceutical companies", while offering no new plans to force such ... Read More »

Erdogan sworn in with new powers, names son-in-law as finance minister

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Erdogan, who has transformed Turkey in 15 years of rule, described the change as a "new beginning" in the country's history and vowed to be the president of all 81 million Turks. President Trump chatted up Turkish President Recep Tayyip Erdogan as they headed for a group photo at the North Atlantic Treaty Organisation summit in Belgium Wednesday - choosing the authoritarian leader's company over that of America's longtime European allies. Read More »

BMW agrees US$4.7b contract with China’s CATL for battery cells

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BMW has awarded a contract worth just over 1 billion euros ($1.2 billion) for CATL to make cells for electric cars, while Volkswagen has picked CATL and South Korea's Samsung and LG Chem to deliver $25 billion worth of batteries. The company sold 560,000 BMW brand vehicles to customers in China in 2017, more than the US and Germany combined. BMW is "very comfortable" with two suppliers of battery cells at the moment, but could add a third and is in talks with eight manufacturers, he added. Read More »

'There are worries ahead': Experts react to Bank of Canada's rate hike

Money markets see a almost 70 per cent chance of further Bank of Canada tightening by December. The central bank said it expects the Canadian economy to expand by 2 per cent per year on average between 2018 and 2020, noting that recently implemented tariffs on steel and aluminium will likely have only "modest" effects on growth and inflation. Read More »

Chinese tariffs on United States goods take effect at start of July 6

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The loss was devastating: AMSC's stock shed $1 billion in value, and the company cut 700 jobs, more than half its workforce. These would hit USA energy exports, such as coal and crude oil, among other areas. In mid-June, Mexico warned it could strike $4 billion worth of USA corn and soy imports if President Trump imposes new tariffs, Reuters reported. Most economists, by contrast, say the deficit simply reflects the reality that the United States spends more than it saves. Read More »

Iran warns India of curtailing special privileges if oil imports reduced

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This is especially true because the United States never really had much justification for withdrawing from the nuclear deal in the first place, beyond President Trump personally having problems with it. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals. The Chabahar port is being considered a gateway to golden opportunities for trade by India, Iran and Afghanistan with central Asian countries in the wake of ... Read More »

JetBlue crew rescues dog in distress with oxygen mask

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The crew was able to bring the dog, named Darcy, an oxygen mask. A woman has thanked flight attendants for helping save her French Bulldog after the pup fell ill and needed an oxygen mask on a flight. She added Darcy has made a complete recovery but she will not fly the dog with her in future without a vet's clearance. Fenster told " Good Morning America " he'd never seen anything like Darcy's case in 15 years working for an airline. Read More »

Donald Trump's China Tariffs Don't Apply to Ivanka

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In the case of the China-U.S. squabble, Trump imposed aluminum and steel tariffs in early March in order to protect those American industries. The White House says the tariffs are a response to unfair trade practices by China. President Donald Trump last month threatened additional tariffs against China if it retaliated. The US has ramped up its trade war with China, outlining a list of $200bn (£150bn) worth of additional products it plans to place tariffs on. Read More »

OPEC says it's doing best to supply market but won't overdo it

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Zanganeh added that Iran had already devised a plan to counter Trump's threats, and that the plan was working successfully. Surging prices led Trump to take to Twitter on July 4, accusing OPEC of "doing little to help" and urging the group to "REDUCE PRICING NOW!" Zanganeh said that exerting pressure as such was against the principles of the Organization of the Petroleum Exporting Countries (OPEC) in which both Saudi Arabia and Iran are founding members. Read More »

Erdogan to take oath as Turkey’s1st Executive President with vast powers

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He will take the oath of office in parliament at 4 pm (1300 GMT), before attending a ceremony two hours later at the huge presidential palace he has constructed in the capital. The president will sit at the top of a vertical power structure marked by a slimmed-down government with 16 ministries instead of 26 and multiple bodies reporting to him. Read More »

Woman on oxygen tank dies after her power is cut off

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Her family said Daniels, who used an electric-powered oxygen tank as a result of congestive heart failure, had struggled to breathe at the home on a day where temperatures had reached around 90° F. Her family said she was in good spirits but relied on her oxygen tank to breathe. When she arrived later that morning, the heat was suffocating. "She was the matriarch of this family - she was the glue that held everything together", said Desiree . Read More »

Erdogan assumes greater powers as Turkey's new era begins

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The president said in the previous days that there will not be any members or parliamentarians of his Justice and Development Party (AK Party) in the new cabinet, hinting that it will be made up of former politicians and bureaucrats. North Atlantic Treaty Organisation member Turkey's relations with its Western allies have been strained by disputes with the United States over military strategy in Syria and by European Union criticism of Ankara's large-scale purges of state institutions, armed ... Read More »

Timehop breached due to lack of 2FA, 21 million users hit

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For this reason, Timehop urges those users to take steps to ensure that their cell number can not be ported without their knowledge. Timehop said that the details were stolen because it didn't use two factor authentication (2FA) on its cloud computing login. Read More »

Oil markets volatile as trade conflict between U.S. and China escalates

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Oil prices steadied on Monday as an increase in US drilling, likely to lead to higher shale production, balanced evidence of tightening supply. Meanwhile, Chinese state media has unleashed a full-on propaganda blitzkrieg, slamming Trump's government as a "gang of hoodlums", with officials vowing retaliation, while the chairman of Sinochem just become China's official leader of the anti-Trump resistance, quoting Michelle Obama's famous slogan " when they go low, we go high ". Read More »

Starbucks is eliminating plastic straws from all stores

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The new designs have drawn comparisons to an adult "sippy cup ". Starbucks ( sbux ) will replace plastic straws with recyclable strawless lids, which it will serve with all of its iced coffee, tea, and espresso drinks. Starbucks said cold beverages in which a straw is typically included make up 50 percent of the drinks its sells, up from just 37 percent five years ago. Read More »

Seattle bans plastic straws, utensils at businesses

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A ban went into effect Sunday outlawing those particular straws and utensils at " all food service businesses, including restaurants, grocery stores, delis, coffee shops, food trucks, and institutional cafeterias". However, Seattle Public Utilities spokeswoman Ellen Pepin-Cato said that the focus this upcoming year will be on "continuing outreach and assistance to businesses to help them come into compliance, rather than enforcement". Read More »

China cancels US soybean purchases as trade war takes hold

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The United States imposed $34 billion in tariffs on Chinese products Friday, and Beijing hit back with its own fiscal punishment and slammed the Trump administration for igniting " the biggest trade war in economic history ". Others may not have voted for him but did not vote for Hillary Clinton, opting to write in third-party candidates or leave that part of the ballot blank. Read More »

China pushes for wider ties with east Europe

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China remains open for trade with foreign partners and can only benefit from an economically strong Europe , Premier Li Keqiang said, as he pressed for expanded ties with the continent's eastern wing while waging a tariff war with Washington. Read More »

US stocks gain with tech shares leading, Companies & Markets News & Top Stories

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The Dow Jones Industrial Average jumped 99.74 points to 24,456.48, with Apple and Microsoft outperforming. A solid pickup in hiring by USA employers last month helped keep investors in a buying mood. The Dow is up 85.33 points, or 0.4 percent. The gains came despite an escalation in trade tensions as the US imposed tariffs on Chinese goods and China responded in kind. Read More »

Theresa May's Cabinet in crisis as David Davis resigns over Brexit plan

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Well done David Davis for having the principal and guts to resign. We needed Boris to emulate his hero Churchill. Labour Party chairman Ian Lavery said: "This is absolute chaos and Theresa May has no authority left". Whether the Prime Minister will be able to get her plans past the Brextremists in her own party let alone Brussels remains to be seen. Under the proposals, yet to be presented to the European Union, there would be a free trade area for industrial and agricultural goods, ... Read More »

BP in lead to acquire BHP's US onshore shale assets

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The firm owned 8,500 shares of the mining company's stock after selling 5,436 shares during the period. Measuring its EPS growth this year at 192%. The ATR is not used to measure price direction, just to measure volatility. The higher the ratio, the more financially secure a company is in the short term. Read More »

Netflix mulling over 'Ultra' subscription for $17 per month

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Users in European countries like Germany and Italy have already reported seeing this addition to the list of subscription plans, according to Cordcutting.com , with Ultra being priced at €16.99 (roughly £15 GBP or $19.90 USD). So far, these plans are only being tested in Europe, but, according to how well these changes are received, could become more widespread among Netflix customers. Read More »

Trade Deficit Narrowed to 19-Month Low in May

After struggling through the middle part of a year ago, exports had seen a revival in recent months due to a run-up in oil prices and stronger demand for non-energy exports. Exports were off slightly for the month, falling 0.1 percent to Can$48.3 billion, on a 3.6 percent decline in sales of motor vehicles and auto parts. Read More »

June Sees Employment Rates Increase 213000

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In another sign of vigorous demand for labor, the results for April and May were revised higher by a total of 37,000 new jobs, bringing the average for the past three months to 211,000. The percentage of unemployment attributable to voluntary quits fell to 12.4 percent, more than reversing a big jump reported in May. Prices for longer-dated U.S. Read More »

Business patience 'at breaking point' over lack of Brexit clarity

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May's foreign minister, Boris Johnson, who also campaigned for Brexit , seemed to support the parliamentarian by tweeting: "It's vital that all MPs are able to air their views on Brexit ". "At Chequers the prime minister must stick to her righteous cause and deliver what she has said she would do", Conservative Brexit campaigner Jacob Rees-Mogg wrote in the tabloid newspaper The Sun on Tuesday. Read More »

June's employment gains, job hunter influx clears way for rate hike

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Toronto saw its unemployment rate rise by 0.1 of a percentage point to 6.4 per cent, while Vancouver's unemployment rate was 4.6 per cent during the month. The unknowns include Canada's intensifying trade dispute with the United States and the challenging renegotiation of the North American Free Trade Agreement. Read More »

Ford and General Motors Assessing Tariffs Impact in China

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Ford Motor's (F.N) China slump intensified, with vehicle sales tumbling 38 percent in June and the automaker recording its worst-ever first half, as buyers shunned its aging models that are awaiting overhauls and flocked to rivals. "We always knew it would be a challenging year for us given our position in the product cycle", Peter Fleet, head of Ford's Asia-Pacific operations, which include China, said in a statement. Read More »

U.S. jobs growth stronger than expected

The unemployment rate rose from an 18-year low of 3.8% to 4% but that was because more people were drawn into the strong labor market. The United States has increased jobs monthly for more than seven years, but some analysts suggest that the escalating trade disputes between the USA and its allies could threaten growth. Read More »

Jaguar Land Rover Says 40,000 Jobs At Risk From Bad Brexit Deal

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This would be in jeopardy should the company be faced with the wrong outcome. Jaguar Land Rover, which was bought by Tata a decade ago and employs more than 40,000 people in Britain, told the government on Wednesday that it wanted more clarity over the country's future relationship with the European Union before... Read More »

Fed minutes suggest end of rate increases could come next year

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Last month, the Fed raised its key interest rate by 25 basis points to between 1.75% and 2%, and expects to increase borrowing costs two more times this year. As from midnight on Friday, the first wave of USA tariffs will apply to 818 Chinese goods ranging from boat motors to LEDs and radio equipment. The U.S. Read More »