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Finance

The members of the Organization of the Petroleum Exporting Countries (OPEC) reached a consensus on Friday to increase their crude output in order to address concerns over rising oil prices , however the group didn't give any clear information regarding the amount and allocations of the rise.
  • European Union to impose countertariffs on United States products as of Friday

    European Union to impose countertariffs on United States products as of Friday

    Finance

    When the US tariffs on steel and aluminum went into effect on June 1, the European Union said they were "illegal", pledged to impose its own tariffs, and filed a case against the U.S.at the World Trade Organization. As painful as the brewing trade war could prove, many have seen it coming. He pledged to impose tariffs on imports from countries that Mr Trump said had exploited the US.
  • Trump threatens new tariffs on Chinese imports, Beijing calls it 'blackmail'

    Trump threatens new tariffs on Chinese imports, Beijing calls it 'blackmail'

    Finance

    Trump is gambling that Beijing has the most to lose. "If China increases its tariffs yet again, we will meet that action by pursuing additional tariffs on another $200 billion of goods", Trump said in a statement . "Canada", Trump told the business conference. The president says , "We have to change our ways". "It may not be the end of the matter as USA officials are looking at another US$100 billion of Chinese imports on which they could impose tariffs if desired", he said.
  • OPEC inches towards oil output deal ahead of key meeting

    OPEC inches towards oil output deal ahead of key meeting

    Finance

    But a member of Nigerian delegation to the event said as a loyal member, Nigeria will support the position of OPEC leadership to retain the current supply level in order stabilise the market . Saudi Arabia and its allies estimate that total cuts now amount to 2.8 million barrels. However, because most countries can't increase production, that would probably translate to just 600,000 barrels coming back on to the market - an increase in global production of about 0.5 per cent.
  • Disney boosts Fox bid to $71.3 bn to counter Comcast

    Disney boosts Fox bid to $71.3 bn to counter Comcast

    Finance

    Both Comcast and Disney are keen to buy Fox's entertainment assets, including Sky, in order to acquire film and television content that would enable them to compete more effectively with digital giants, like Netflix and Amazon, who sell their content directly to viewers.
  • US shale producers warn Chinese tariffs would hit energy exports

    US shale producers warn Chinese tariffs would hit energy exports

    Finance

    China will "fight back firmly" with comprehensive "qualitative" and "quantitative" measures if the United States publishes an additional list of tariffs on more Chinese goods, the Ministry of Commerce said on Tuesday. The Trump administration has hit Chinese smartphone maker ZTE hard with tariffs recently for violating sanction imposed on Iran and North Korea.
  • China says will 'fight back firmly' if U.S. publishes additional tariffs list

    China says will 'fight back firmly' if U.S. publishes additional tariffs list

    Finance

    Trump had announced a 25 per cent tariff on up to US$50 billion in Chinese imports. Mr. Trump's move comes after Beijing announced it would retaliate in kind to planned USA tariffs on $50 billion in imports from China . Mr. Trump's comments came hours after the top USA diplomat accused China of engaging in "predatory economics 101" and an "unprecedented level of larceny" of intellectual property.
  • Audi CEO Rupert Stadler arrested over emissions scandal

    Audi CEO Rupert Stadler arrested over emissions scandal

    Finance

    And The Associated Press reports that Stadler, who has spent almost 30 years working for Audi, is under investigation for "fraud and indirect improprieties with documents". That has cost it $20 billion in fines and civil settlements. Volkswagen admitted that almost 600,000 cars sold in the USA were fitted with "defeat devices" created to circumvent emissions tests.
  • Boeing, others assessing impact of US-China tariffs

    Boeing, others assessing impact of US-China tariffs

    Finance

    Following the decision, Congresswoman Rosa DeLauro said tariffs must be seen as one tool among many the USA could use to hold bad actors like China accountable and bring the Chinese government to the table to secure a more favourable balance of trade.
  • Comey deviated from Federal Bureau of Investigation norms in Clinton email probe

    Comey deviated from Federal Bureau of Investigation norms in Clinton email probe

    Finance

    But then-FBI Director James Comey , in his July 2016 statement on the Clinton case, did not go as far as Strzok in addressing the possibility of foreign intruders getting access to Clinton's server. "We found that it was extraordinary and insubordinate for Comey to do so, and we found none of his reasons to be a persuasive basis for deviating from well-established Department policies in a way intentionally created to avoid supervision by department leadership over his actions", the report ...
  • IEA: Iran, Venezuela Oil Production Could Drop 30 Percent

    IEA: Iran, Venezuela Oil Production Could Drop 30 Percent

    Finance

    Most of that non-OPEC supply growth would come from the US, it said . President TrumpDonald John TrumpWhat you need to know about Tuesday's elections Danny Tarkanian wins Nevada GOP congressional primary Laxalt, Sisolak to face off in Nevada governor's race MORE focused on high oil prices in a tweet on Wednesday, again laying blame on OPEC.
  • European Central Bank calls halt to quantitative easing, despite 'soft' euro

    European Central Bank calls halt to quantitative easing, despite 'soft' euro

    Finance

    Draghi said it would be "subject to incoming data", and that the European Central Bank would keep rates at record lows for "as long as necessary", with the aim of achieving 2% inflation over the medium term. "We've tended to avoid some of those higher-yielding stocks more exposed to the tightening cycle", said SVM's McLean. That sent the euro lower , while government bonds rallied.