• Oil jumps as Opec agrees to modest output hikes
Oil jumps as Opec agrees to modest output hikes

Al-Falih also said the OPEC+ Joint Ministerial Monitoring Committee, which has overseen the group's supply cuts, will play a key role in managing how production is increased. Furthermore, 7 out of 12-member states saw their supply-flows fall more than the designated set levels by OPEC, bolstering the compliance rate above the set 1.2mbpd target to ...

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  • EU imposes tariffs on US peanuts, motorcycles, and whiskey
EU imposes tariffs on US peanuts, motorcycles, and whiskey

Mr Trump tweeted that the U.S. would place a 20% import tax on European cars, if the EU's "tariffs and barriers are not broken down soon and removed". "Though the immediate effects on United Kingdom retailers might look relatively modest, it is worth paying close attention to this dispute because it's future course is unpredictable, fast moving a...

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  • Tesla job cuts are mostly in solar division
Tesla job cuts are mostly in solar division

The automaker also claims that in May 2018 Tripp was reassigned to another role within the factory, a move that he was allegedly angry about. Tripp responded to the company's lawsuit by claiming to be a whistleblower - saying he told Business Insider that Tesla used defective batteries and churned through expensive components to a...

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  • Supreme Court decision on sales tax could see local impact
Supreme Court decision on sales tax could see local impact

But the move could impact thousands of smaller retailers in MA and across the country as they try to comply with a labyrinth of differing state and local rules . What it means for out-of-state retailers is that sales tax nexus is no longer exclusively based on a physical presence standard. Justice John Roberts Jr.

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  • OPEC agrees modest hike in oil supply after Saudi and Iran compromise
OPEC agrees modest hike in oil supply after Saudi and Iran compromise

Saudi Arabia said the move would translate into a nominal output rise of around 1 million barrels per day (bpd), or 1 percent of global supply. U.S. OPEC's third-largest producer, Iran, has so far been the main barrier to a deal as it had said on Tuesday OPEC was unlikely to reach an agreement and should reject pressure from US President Donald ...

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  • EU retaliatory tariffs on raft of US goods go into force
EU retaliatory tariffs on raft of US goods go into force

Economists and trade analysts worry that there may be no way out of an all-out trade war between the United States and its most vital trading partners. "All these kind of things going on right now could trigger that kind of behaviour and initiate a correction in the stock markets, and that could also trigger a slowdown in the global economy", he ...

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  • Opec moves towards raising oil supply as Iran softens stance
Opec moves towards raising oil supply as Iran softens stance

WTI crude oil prices ticked higher by 1.4 percent to $65.84/bbl on Wednesday following a drop in US commercial crude inventories this week, but all eyes will be on Vienna by the end of the week. Oil prices fell after Al-Falih's comments, with benchmark Brent crude losing as much as 2.4 percent to $72.94 a barrel in London. "OPEC is listening ...

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  • Markets Right Now: Stocks fall on fresh worries over trade
Markets Right Now: Stocks fall on fresh worries over trade

That mirrored the Trump administration's announcement Friday of a tariff hike on $34 billion of Chinese goods, also due to take effect July 6, and plans to consider widening it to an additional $16 billion of other products. For the initial $34 billion the U.S. attempted to avoid putting tariffs on commonly purchased consumer goods, like clothing...

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  • European Union counter-tariffs against USA come into effect on Friday - commission
European Union counter-tariffs against USA come into effect on Friday - commission

Donald Trump hit the EU, Canada and Mexico with tariffs of 25 percent on steel and 10 percent on aluminum at the start of June, ending exemptions that had been in place since March. Ms Malmstrom insisted the EU's measures were "measured, proportionate" and in line with World Trade Organisation rules. If Washington refuses to back down, a fur...

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  • Hackers Target Yet Another South Korean Crypto Exchange, Steal $32 Million
Hackers Target Yet Another South Korean Crypto Exchange, Steal $32 Million

We checked that some of [our] cryptocurrencies valued about $30,000,000 was stolen. Last week, Bithumb tweeted that a database and security upgrade was being carried out, and that part of the process involved transferring assets to a cold wallet (one not directly connected to the internet).

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  • Trump says 'getting there' in NAFTA talks with Canada, Mexico
Trump says 'getting there' in NAFTA talks with Canada, Mexico

Even with tariffs on an additional $ 200 billion in Chinese goods , the impact on both China's and the US economy is set to be small, most economists say. Trump has persistently slammed Chinese trade practices, calling them unfair. Fox News contributor James Freeman discusses how President Trump's tariffs against China are impacting USA ...

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  • Audi CEO arrested over fears of Dieselgate coverup
Audi CEO arrested over fears of Dieselgate coverup

The directors of Audi and Volkswagen discussed how to run its more profitable division without Stadler, but failed to come to a conclusion, the carmaker said late on Monday. But Dudenhoeffer said that may change, given the "very serious" allegations against him. Martin Winterkorn, former chief executive of Volkswagen , resigned after the aut...

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  • Watchdog Report Faults Comey as 'Insubordinate'
Watchdog Report Faults Comey as 'Insubordinate'

But a almost two-year investigation by the Justice Department's watchdog found no evidence that those private sentiments expressed by Strzok actually influenced his work. And how many decisions by American policymakers in 2016 and before or since have been affected by false intelligence deliberately planted to throw a monkey wrench into the wor...

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  • European Central Bank announces end of bond buys, sees rates stable until summer 2019
European Central Bank announces end of bond buys, sees rates stable until summer 2019

The euro briefly spiked to a one-month high of $1.1853 following the announcement. "With Draghi's term of office due to expire at the end of October 2019, we feel the ECB is unlikely to start increasing interest rates until the new ECB president is firmly in place", said David Zahn, head of European fixed income for Franklin Templeton.

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  • Bitcoin's record-high 2017 price was result of market manipulation, claims study
Bitcoin's record-high 2017 price was result of market manipulation, claims study

The report suggests that popular exchange Bitfinex , which created and sold Tether , may have used it to buy up Bitcoin and increase demand, thereby boosting its price. According to the researchers at the University of Texas, the cryptocurrency Tether was allegedly used by the Bitfinex exchange to support the price.

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  • Musk's The Boring Company wins bid for Chicago high-speed airport link
Musk's The Boring Company wins bid for Chicago high-speed airport link

Chicago has selected Elon Musk's Boring Co to build a $1 billion underground transit system that will whisk people from Chicago's downtown Loop district to O'Hare International Airport at 150 miles per hour (240 km per hour), the billionaire entrepreneur and Mayor Rahm Emanuel said on Thursday.

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  • US Fed raises interest rates, expects 2 more hikes this year
US Fed raises interest rates, expects 2 more hikes this year

Wednesday's action, which was widely expected , was the second Fed rate hike this year - and the seventh since it began boosting them in 2015. Projections released after the Fed's two-day meeting in Washington show policymakers expect the United States economy will grow 2.8% this year , while unemployment falls to 3.6%.

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  • Trump administration fails to block AT&T/Time Warner merger
Trump administration fails to block AT&T/Time Warner merger

A U.S. federal judge on Tuesday cleared the mega merger between AT&T and Time Warner in an antitrust case with potential far-reaching implications. The case has drawn attention from all sides including Sling TV's President Warren Schlichting, who testified against the merger.

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  • What's in the document that Kim and Trump signed?
What's in the document that Kim and Trump signed?

Australia's Foreign Minister Julie Bishop said Australia welcomed the summit outcome as "a step in the right direction". "Their handshake seems to be between peers", she said. Kim and Trump became the first leaders of their countries to ever come face to face. Kim's image would now be bolstered, critics said. "We're going to have a great di...

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  • Korea appreciates 'successful' summit between Trump, Kim Jong
Korea appreciates 'successful' summit between Trump, Kim Jong

The historic agreement came after the two leaders held several meetings throughout the day. The remarks contradicted countless previous declarations by US political and military officials over the years that the drills are routine, defensive and absolutely critical.

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