Economy

China's stance on Huawei dispute remains tough and clear

China's stance on Huawei dispute remains tough and clear He said he would see Chinese leader Xi Jinping at the end of June during the G-20 summit in Osaka, Japan. "As the "Grey Rhino" of China-US trade war rampages, many people are anxious that the "Black Swan" of global economic crisis might come in the aftermath", said ambassador Zhang on the trade war between the two world's largest economies. [Full Article...]

Oil falls more than 5% to post biggest 2019 weekly loss

Oil falls more than 5% to post biggest 2019 weekly loss The American Petroleum Institute (API) said on Tuesday that US crude stockpiles rose by 2.4 million barrels last week, to 480.2 million barrels, compared with analyst expectations for a decrease of 599,000 barrels. Oil tanks along China's eastern seaboard are filling up as the effects of the trade war trickle down into the real economy and sap demand for fuels, making life tough for the country'... [Full Article...]

Panasonic halts some component shipments to Huawei amid USA ban

Panasonic halts some component shipments to Huawei amid USA ban The company saw itself being put on the Entity List by the US Commerce Department - a list of companies that aren't allowed to buy technology from US based companies without government approval - approval that the US government wouldn't give to Huawei anyway. [Full Article...]

Stephen Colbert on Trump, Pelosi, and the so-called 'temper tantrum'

Stephen Colbert on Trump, Pelosi, and the so-called 'temper tantrum' She said Trump was engaged in a "cover-up" by refusing to permit former aides to testify before Congress or produce documents subpoenaed by a number of committees. Mr Trump said it was impossible to work on such legislation as long as Democrats were continuing their "phony" investigations of him. Trump was expected to provide the Democrats his ideas on how to pay for it. [Full Article...]

China-US Trade War: How do the tariffs work?

China-US Trade War: How do the tariffs work? Washington earlier this month hiked existing tariffs on $200 billion in Chinese goods , including farm products and consumer electronics, prompting Beijing to retaliate, as talks to end a 10-month trade war stalled. The trade war between the United States and China has been an incredibly damaging one for both countries, but needless to say, it is the latter which has had a tough time during thi... [Full Article...]

ARM axes Huawei too; massive blow to the company

ARM axes Huawei too; massive blow to the company It's yet another significant blow for Huawei, which has already been barred from doing business with Google LLC and various chipmakers including Intel Corp. Huawei is becoming the victim of bullying by the USA administration. Arm China must too follow the enforcement of the ban , even though as per Chinese law it is 51 per cent Chinese investor owned (with a 49 per cent stake held by Arm... [Full Article...]

ARM Cuts Off Huawei in Devastating Move

The move was made to comply with the USA trade clampdown on Huawei . ARM's suspension of business with Huawei will be another major blow, and analysts told BBC , they believe it will impact the Chinese company's ability to develop its own chips. [Full Article...]

Huawei’s Android alternative is coming this fall with Android app compatibility

Huawei’s Android alternative is coming this fall with Android app compatibility Thanks to a report from Caijing , we now know that Huawei's been developing its own operating system as an alternative to Android since as far back as 2012. The U.S. department of Commerce had already declared Huawei to be one of these countries several days before the order was signed . The U.S. has announced new tariffs on European and Chinese goods several times, only to see them retali... [Full Article...]

Indian markets close sharply high after exit polls forecast BJP gov't win

Indian markets close sharply high after exit polls forecast BJP gov't win Kumaraswamy on Monday said their predictions were being used to create a false impression of a Modi wave across the country. Most exit polls have predicted a majority for the BJP-led NDA, leaving the UPA far behind. "While undoubtedly the TDP will form the government in Andhra Pradesh, we are confident that the non-BJP parties will form a non-BJP govt at the Centre", Naidu said. [Full Article...]

Ford announces more job cuts as company 'redesign' continues

Ford announces more job cuts as company 'redesign' continues In the USA about 2,300 jobs will be cut through buyouts and layoffs, about 1,500 of which have already happened. About 1,500 already have happened. "We will continue to work collaboratively and respectfully with our teams and other partners to ensure our designs are effective and fit and that our employees are treated fairly and with respect", the company said in a memo to employees obtained b... [Full Article...]

Googles restriction forces Huawei to use open-source version of Android

Googles restriction forces Huawei to use open-source version of Android Reuters reported that even though there has been some suspension, current Huawei smartphone users with Google apps will be able to use and download app updates from Google. Android released this statement on Twitter today: "For Huawei users' questions regarding our steps to comply with the recent United States government actions: we assure you while we are complying with all U.S. [Full Article...]

U.A.E. says it will show 'restraint' following tanker sabotage

U.A.E. says it will show 'restraint' following tanker sabotage The reports of alleged attacks come against a backdrop of US-Iranian tension following Washington's decision to cut Iran's oil exports to zero and beef up its military presence in the Gulf after Iran chose to revoke the nuclear pact with the West. [Full Article...]

Donald Trump to issue order effectively blocking Huawei from US

Donald Trump to issue order effectively blocking Huawei from US That's a big deal. The official also said that the order, which could be signed as soon as Wednesday, has nothing to do with the recent escalation of the trade conflict with China . "Even if we were required by Chinese law, we would firmly reject that.". Both Huawei and ZTE have also been targeted by the USA for alleged schemes to dodge American sanctions on Iran. [Full Article...]

Dow Drops 600+ on Worst Day Since January

Dow Drops 600+ on Worst Day Since January The S&P 500 fell 2.4% on Monday, marking its worst day since early January while the Nasdaq Composite gave back 3.4%, for its biggest daily loss since December 2018. Talking to CNBC, Greg Luken, CEO of Luken Investment Analytics said: "I think this is going to last for a while". "This is not something that's going to be resolved tomorrow and anybody who says they know exactly how this will pla... [Full Article...]

Bayer’s stock falls after $2 billion verdict against Roundup maker Monsanto

Bayer’s stock falls after $2 billion verdict against Roundup maker Monsanto The latest verdict is the largest by far and will increase pressure on Bayer , which has suffered share price drops in the wake of the verdicts and is now facing similar lawsuits from thousands of cancer patients , survivors and families who lost loved ones to National Hockey League. [Full Article...]

China tariffs list includes 194 pages of products as trade war escalates

China tariffs list includes 194 pages of products as trade war escalates Tariffs on Chinese goods increased from 10% to 25% on Friday, making the underlying cost of those items higher for US customers. On Twitter, Trump warned Xi that China "will be hurt very badly" if it doesn't agree to a trade deal. "Losing a valuable market, losing stable pricing, losing an opportunity to support our families and our communities". Remember, they broke the deal with us and tri... [Full Article...]

Iran suggests oil attacks orchestrated to spark conflict

Iran suggests oil attacks orchestrated to spark conflict The attacks followed reports of sabotage against oil tankers in the Persian Gulf off the coast of the United Arab Emirates on Sunday, with tensions rising between the USA and Iran. U.S. oil prices rose 1.4 per cent even though Saudi's state-owned oil company Aramco told CNN that the attack caused "no damage to oil production, no oil spills or injuries". [Full Article...]

Supreme Court rules Apple will face antitrust suit for its iPhone apps

Supreme Court rules Apple will face antitrust suit for its iPhone apps Apple had argued that consumers aren't entitled to sue , since prices are ultimately set by the developers building the apps, not Apple itself. Apple said that it was an agent for app developers and that it neither owned nor sold the apps itself. [Full Article...]

Facebook Head Zuckerberg Rejects any Idea of Breaking Facebook

Facebook Head Zuckerberg Rejects any Idea of Breaking Facebook Hughes said he feels responsibility for Facebook because he was part of the company's early days. " Mark is a good, kind person". At a New York Times opinion piece published Hughes stated Facebook has turned to an monopoly . The central theme of the article is to ask the government to hold Mark accountable instead of marveling at the explosive growth of Facebook. Facebook opera... [Full Article...]

United States plans more aid for farmers amid China trade spat

United States plans more aid for farmers amid China trade spat He announced substantial increases in USA tariffs, to 25%, on $200 billion in Chinese imports. But the widening divide between Washington and Beijing goes beyond trade. consumers, workers and businesses". Despite the USA tariff threat, China acted in a responsible manner and still sent its delegation to Washington to continue consultations. [Full Article...]


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