Economy

Tesla hopes to produce 500,000 cars per year at new Shanghai plant

Tesla hopes to produce 500,000 cars per year at new Shanghai plant Chief Executive Officer Elon Musk sealed a crucial agreement Tuesday to start building its second vehicle assembly plant in the world. It'll take another two to three years for the factory to reach its capacity to build about 500,000 vehicles annually. [Full Article...]

U.S. employers added 213,000 jobs in June, unemployment rate rose to 4%

U.S. employers added 213,000 jobs in June, unemployment rate rose to 4% May's figure is now being estimated higher by +37,000 vis à vis what was reported for May a month ago. Additionally, the unemployment rate rose to 4 percent from 3.8 percent even as the labor market encouraged people to seek employment. [Full Article...]

Iranian leader describes European Union proposals to save JCPOA as ‘disappointing’

Iranian leader describes European Union proposals to save JCPOA as ‘disappointing’ Iran's President Hassan Rouhani had Thursday told French President Emmanuel Macron by phone that the European offer of economic measures did "not meet all our demands", Iran's state news agency IRNA reported. Even though Iran's Foreign Minister Mohammad Javad Zarif said that the U.S. actions "de-facto disrupted the agreement", thus giving Iran a right to withdraw from it as well, the Islamic Repu... [Full Article...]

Left-wing president elected in Mexico

Left-wing president elected in Mexico He has also been critical of Mr Trump in the past revealing exactly what he thinks of the US President's border wall . Mexicans deplored that subservient behaviour. His approval ratings plummeted in 2017 to an all-time low of 12 percent. It is amid this atmosphere of rejection of the servile Mexican political elite that AMLO was elected president. [Full Article...]

Trump's Tweet on Deal With Saudi King Makes Oil Prices Plummet

Iran possesses the second-largest gas reserves on the planet after Russian Federation and the fourth-largest oil supply, while Saudi Arabia is the world's biggest oil exporter. "The Vienna meeting [4th OPEC meeting] sought to maintain production". But with inventories already below five-year averages and little spare capacity available, oil markets look set to tighten. [Full Article...]

Horst Seehofer: Bavarian hardliner turned Merkel nemesis

Horst Seehofer: Bavarian hardliner turned Merkel nemesis The coalition parties, comprising Merkel's Christian Democrats (CDU), the CSU and Social Democrats (SPD), are holding a series of meetings on Monday to decide what action to take. Germany recorded just 18,349 people this year who would be eligible for deportation to other European Union states under the proposed scheme. At the national level, Merkel proposes that migrants arriving in Germany who... [Full Article...]

Trump blasts OPEC over manipulating oil markets

Trump blasts OPEC over manipulating oil markets Over the weekend, US President Donald Trump tweeted that King Salman of Saudi Arabia agreed to increase oil production by 2 million barrels per day (bpd), "because of the turmoil & dysfunction in Iran and Venezuela", according to Trump's tweet . [Full Article...]

Saudi king said will boost oil output if needed, says White House

Saudi king said will boost oil output if needed, says White House Trump had blamed the Organization of Petroleum Exporting Countries ( OPEC ) for keeping oil prices high in the past while he was a businessman, and has recently reiterated his criticism against the cartel. "The Trump support base is probably the part of the USA electorate that will be the most sensitive to an increase in USA gasoline prices", Halff said. [Full Article...]

Amazon looking to foster small independent delivery fleets

Amazon looking to foster small independent delivery fleets Amazon claims fleet owners with 20 to 40 vans on the road can earn up to $300,000 in annual profit. The company says that as little as $10,000 in cash is required, no logistic experience is required and it is also committing $1 million toward funding veterans' startup costs. [Full Article...]

Amazon acquiring online pharmacy PillPack, sending drug retailer shares down

Amazon acquiring online pharmacy PillPack, sending drug retailer shares down PillPack has mail-order pharmacy licenses in all 50 states, which could allow Amazon to expand quickly. That said , Pessina added, "We know that we have to change the level of our services to the customers, and we are working quite hard on that direction". [Full Article...]

Trump vs. Harley-Davidson: What's really going on?

Trump vs. Harley-Davidson: What's really going on? Trump tweeted . "Their employees and customers are already very angry at them". At the very end, using written shouting, he warns Harley-Davidson they will be taxed like never before . The region accounted for 16 percent of Harley Davidson's global sales a year ago. Similarly, statements that describe future plans, objectives, outlooks, targets, guidance or goals are also forward-looking sta... [Full Article...]

EU, China vow to uphold global trade order despite divisions

EU, China vow to uphold global trade order despite divisions But the Communist government has resisted any change to its plans that call for challenging U.S. and European technology dominance by creating Chinese companies capable of competing in fields including clean energy, biotech and aerospace. Brussels and Beijing recently announced new tariffs on USA goods in retaliation for moves by the Trump administration. What Happened: U.S. President Donald... [Full Article...]

Turkey's Erdogan clinches second term with majority vote

Turkey's Erdogan clinches second term with majority vote The pro-Kurdish Peoples' Democratic Party, or HDP, was edging past the 10 per cent threshold to enter parliament, with 10.7 per cent. If both the presidential and the parliamentary elections go against Erdogan, Turkey's politics, and possibly the country, could undergo significant change. [Full Article...]

Trump 'surprised' by Harley-Davidson move to shift work out of US

Trump 'surprised' by Harley-Davidson move to shift work out of US Harley-Davidson, which Trump has cited in the past as a company hurt by USA trade regulation, said the increased tariffs would cost the company an extra $30 million to $45 million in 2018. And the USA energy industry could lose some of its competitive advantage if there are changes to the North American Free Trade Agreement, which is now in danger of breaking up based on disagreements between th... [Full Article...]

Turkey's Erdogan at 55.08 pct with 70.5 pct of presidential votes counted

Turkey's Erdogan at 55.08 pct with 70.5 pct of presidential votes counted Mr Erdogan, who has been in power since 2003, is seeking a new five-year term with vastly increased powers under a new system and his ruling party is hoping to retain its majority in parliament. Two main candidates posing a tough challenge to President Recep Tayyip Erdogan in Turkey's presidential and parliamentary elections have cast their votes and vowed vigilance amid fears of possible fraud. [Full Article...]

Above $74: Brent oil rises by $1 ahead of OPEC decision

Above $74: Brent oil rises by $1 ahead of OPEC decision Assuming that the main production continues, that will continue to drive inventories down, we think that that would be, you know, probably too short of a supply situation, that we can not allow to happen. Trump wrote on Twitter after OPEC announced its decision. Questions remain, however, over the ability of some OPEC nations - Iran and Venezuela in particular - to increase production as t... [Full Article...]

Opec move to boost oil production will ensure market stability

Opec move to boost oil production will ensure market stability As tensions mounted, the Iranian and Saudi ministers huddled for bilateral talks on Friday morning, holding up the start of the closely watched OPEC meeting. The Organization of the Petroleum Exporting Countries had announced an OPEC-only production agreement on Friday, also without clear output targets. [Full Article...]

Saudi Arabia: Deal can be done this week to boost oil supply

Saudi Arabia: Deal can be done this week to boost oil supply De-facto OPEC leader and top crude exporter Saudi Arabia as well as Russian Federation which is not a member of the cartel but the world's biggest oil producer, are pushing for looser supply controls. Their proposal would share out a quota increase of 1 million barrels a day between all members of the group. Global benchmark Brent crude fell more than 2 per cent on Thursday ahead of a meetin... [Full Article...]

Trump raises risk of economically harmful US-Chinese trade war

Trump raises risk of economically harmful US-Chinese trade war The benchmark index of Chinese stocks fell nearly 4 percent, other Asian share markets declined and USA equity futures traded lower, while safe havens including the yen, gold and Treasuries climbed. And U.S. companies have an increasingly sizable stake in the fast-growing Chinese market. If the President is concerned about treating American footwear companies and consumers fairly, then he should h... [Full Article...]

Audi CEO Rupert Stadler arrested over diesel emission cheating scandal

Audi CEO Rupert Stadler arrested over diesel emission cheating scandal Audi and VW confirmed the arrest to Reuters and noted that under German law Stadler is presumed innocent unless proved otherwise. "The presumption of innocence continues to apply for Mr. Audi's supervisory board has yet to sign off on the nomination, Sueddeutsche said. German officials investigating Dieselgate have circled Audi CEO Rupert Stadler like wary wolves for some time now, closing... [Full Article...]


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