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Why Oil Prices Are Surging

The Saudi Press Agency said Trump had called Salman and the two highlighted "the necessity of doing efforts in order to preserve the stability of the oil market and the global economy growth". "President Trump's reckless decision to pull out of the Iran deal has led to higher oil prices", Senate Minority Leader Charles Schumer, D-N.Y., said last month during a photo op outside an Exxon station. Read More »

Canada hits back at US with $12.6 billion in retaliatory tariffs

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Prime Minister Justin Trudeau's government released the final list of items that will be targeted beginning July 1. Trump has justified the steel and aluminium tariffs by saying imported metals threaten USA national security - a justification that countries rarely use because it can be so easily abused. Read More »

A final good-bye: Toys R Us closes its doors forever

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It was only a few months later in January 2018 that the chain announced it would close 180 stores thanks to its $5 billion debt. The iconic giraffe is not the only one disappointed by an early retirement from Toys R Us , as thousands of (human) employees have also been laid off in the wake of the store's closing. Read More »

What's that extra in my online cart? Soon, maybe a sales tax

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Online sellers that don't charge sales tax on goods shipped to every state include jewelry website Blue Nile, pet products site Chewy.com and clothing retailer L.L. I don't think it ever went into effect because we were waiting to see (the Supreme Court ruling). We asked David Campbell, CEO of TaxCloud the same questions. Read More »

Supreme Court rules in favor of online sales tax

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Shares of Amazon and other online retailers fell Thursday morning after the Supreme Court ruled that states could require tax collection on digital sales. "As to who will have to collect, once that case is decided, it seems their economic nexus definition, or what we are now referring to as a de minimus threshold for interstate commerce, which is any retailer with more than 200 transactions or $100,000 of sales into South Dakota over the trailing 12 months". Read More »

Chinese media say U.S. has 'paranoid delusions'

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He charged that a succession of poorly negotiated accords - including the North American Free Trade Agreement and the pact that admitted China into the World Trade Organization - put American manufacturers at an unfair disadvantage and destroyed millions of US factory jobs. Read More »

Trump Says OPEC To Blame For High Oil Prices

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According to Jain, for the oil markets, the Opec meeting is crucial, as its planned 1.8 million barrels per day (mb/d) output cut went a long way in boosting crude oil prices . The increase of 300,000 to 600,000 barrels a day - above the current OPEC+ production of about 32 million barrels a day - is a less theoretical number. Read More »

European Central Bank rate pledge boosts stock markets

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The dollar slipped against its global peers Friday and global stocks fell as the U.S. slapped new tariffs on Chinese goods, reviving the markets fears of an escalating trade war, dealers said. Mr Draghi said: "With longer term inflation expectations well anchored, the underlying strength of the Euro area economy and the continuing ample degree of monetary accommodation provide grounds to be confident that the sustained convergence of inflation towards our aim will continue in the period ... Read More »

Chicago picks The Boring Company for high-speed link to airport

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The plan for the "Chicago Express Loop, " announced early Thursday by Chicago Mayor Rahm Emanuel and Musk's tunneling firm, calls for the construction of an underground tunnel with concrete tracks on which "skates" - individual vehicles built on a modified Tesla X chassis - would carry 8 to 16 passengers at between 125 to 150 miles per hour from one of the world's busiest airports underneath some of the country's most congested roads. Read More »

Amazon expands Whole Foods delivery for Prime members to 4 more cities

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Last month, Amazon announced its plan to bring more perks to Prime members shopping at Whole Foods stores across the country, and now the tech giant is expanding its reach. "Based on the positive customer feedback and successes we've seen over the past month, we're accelerating our timeline to expand these savings to all of our USA stores". Read More »

AT&T can buy Time Warner as judge shuts down Department of Justice

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In fact, CNNMoney reported that AT&T-Time Warner's counsel Daniel Petrocelli made the argument that traditional media orgs have already been left behind in the digital revolution. "This will be a blockbuster summer for media mergers", said Mary Ann Halford, senior adviser to OC&C Strategy Consultants. A federal judge has approved AT&T's merger with Time Warner, a massive media deal opposed by the government that will shape how much consumers pay for streaming TV and movies. Read More »

Domino's new promotion offers to fill city's potholes

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Domino's is fixing potholes in USA cities in an effort to give its pizzas a smoother ride in delivery vehicles. Domino's says this will help them ensure the "integrity of pizza remains in tact". The company is launching a new campaign to make sure your pizza makes it to your doorstep in ideal condition. The pizza chain has more than 14,800 stores in more than 85 markets. Read More »

After teasing a name change, IHOP says b is for burgers

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The company is still being traded with the initials IHP, and says its selection of pancakes is here to stay. The breakfast chain announced that it had changed its name as a marketing gimmick after adding new burgers to the menu - a move that annoyed a few other fast food empires and the internet at large. Read More »

Ghana football boss resigns after being banned by FIFA

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The Ghanaian government has made a decision to shut down the Ghanaian Football Association following allegations of corruption in the organisation that have surfaced in recent days. Asiamah said the decision had been a hard one to take, and is aware that it is likely to trigger some sort of action from world football's governing body FIFA, who strictly forbid the interference of government in the national federations. Read More »

Kim Jong Un's private jet departs Pyongyang for Singapore

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Trump and his lieutenants - with his hawkish national security adviser, John Bolton, a notable exception - have jumped on comments like this to frame the summit and used them to bolster their own direct, and extensive, private talks with senior North Koreans. Read More »

Microsoft Sinks Data Center in the Sea to Meet Environmental Goals

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Project Natick's Northern Isles datacenter is partially submerged and cradled by winches and cranes between the pontoons of an industrial catamaran-like gantry barge. Environmentalists anxious about the servers having a direct warming effect on the sea need not worry, says Microsoft , as the company's Ben Cutler told the BBC he would expect the surrounding few metres of sea to be "a few thousandths of a degree warmer at most". Read More »

US Fines China's ZTE $1 Billion, Imposes Strict Compliance Measures

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Trump barged into the ZTE case last month by tweeting that he was working with President Xi Jinping to put ZTE "back in business, fast" and save tens of thousands of Chinese jobs. "I closed it down then let it reopen with high-level security guarantees, change of management and board, must purchase USA parts and pay a $1.3 Billion fine", Trump wrote on Twitter on May 25. Read More »

Mexico Hits US With Retaliatory Tariffs

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President Trump believes it "rips off" America and reduces USA power. The other 6 members of the G7 are holding out hope they can find common ground with Trump, but are prepared to stand up to U.S. The Mexican tariffs target USA pork, produce, bourbon, and steel - products chosen with a political objective in mind. While tariffs on these products won't have much of an impact on the overall USA economy, they could be especially painful for particular industries or regions. Read More »

China warns United States imposing sanctions will void any outcome of trade talks

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China on Sunday threatened retaliation against the US during a round of trade talks, saying that economic and trade deals negotiated by the two countries would become "void" should Washington impose new sanctions. A Whitehouse statement last week, which took aim at years of "unfair" trade practices, warned the United States would pursue 25% tariffs on $50bn (£37bn) worth of Chinese imports. Read More »

Trump under fire for tweet about jobs report

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Trump was foreshadowing a glowing unemployment report that showed the jobless rate dipped to an 18-year low of 3.8 percent. The Trump administration is examining ways USA industries could hire more immigrant workers on a temporary basis, White House economic adviser Larry Kudlow said on Friday, as data showed the United States unemployment rate at an 18-year low. Read More »

Krispy Kreme is giving away 50,000 free doughnuts tomorrow

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National Doughnut Day was first celebrated in 1938 and has been happily celebrated ever since. Anyone wearing Sugar Shack gear on Friday, June 1 , gets a free house donut as well. With two locations in the Valley, this local donut shop is offering a free donut with any beverage purchase. Once the $100 is gone there will not be anymore free doughnuts at that location. Read More »

Consumer Reports recommends Tesla's Model 3 after braking fix

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Tesla CEO Elon Musk made several excuses for the Model 3's numbers, including that the tested model was an earlier version with an outdated brake system; sure enough, the software update recently sent out wirelessly by Tesla did improve the braking, pushing the vehicle to a 'recommended'. Read More »

US Surgeon General to Visit Medical Center Thursday

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He said the person is now doing well. Jerome Adams was en route to Jackson, Mississippi for a panel on the opioid epidemic when the incident occurred and tweeted about the experience afterward. Adams was flying to Jackson as he was scheduled to make a visit at the University of Mississippi Medical Center on Thursday to carry on discussions on what all steps the federal government and administration are taking to deal with opioid crisis. Read More »

President Trump lists Cohen reimbursement of up to $250K

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The unnamed whistleblower, who reportedly spent a career in law enforcement, told New Yorker reporter Ronan Farrow he grew anxious when he was unable to find two SARs on attorney Michael Cohen's financial dealings in the database. United Talent Agency co-president Jay Sures pitched the show to a pair of cable networks, CNN and MSNBC , The New York Times reported . Mr Trump had previously disputed whether he was aware of the payment by Mr Cohen and whether he reimbursed him. Read More »

SDL plc (LON:SDL) has analysts on the Bullish side this week

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The stock of Unilever PLC (LON:ULVR) earned "Overweight" rating by Barclays Capital on Thursday, April 12. The rating was maintained by Jefferies with "Hold" on Thursday, March 17. The stock underperformed the S&P500 by 11.55%. Low & Bonar PLC manufactures and supplies technical textiles worldwide.The firm is worth 182.17 million GBP. Read More »

Seattle's new 'head tax' blasted by city's mega-corporations

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The coffee giant is just one of an estimated 585 Seattle-based employers that will be hit by the so-called 'head tax .' Those companies represent about 3% of all Seattle businesses, according to Council estimates, with each bringing in annual revenue of $20 million or more in the city. Read More »

Pompeo: US to lift sanctions if North Korea dismantles nuclear weapons program

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Secretary of State Mike Pompeo said the United States can prepare conditions for North Korean people's economic prosperity comparable to South Korea although American taxpayers' money cannot be spent on the North. "They are in great need of agricultural equipment and technology", he said on CBS' " Face the Nation ". Pompeo praised this as "one step along the way". Read More »

Tesla bursts into flames after fatal crash in Switzerland

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According to the Associated Press , the accident occurred in South Jordan, Utah, on Friday evening, when a Tesla Model S saloon travelling at 60mph collided with the back of a fire engine that had stopped at a red light. Mr Schwall was the electric carmaker's main technical contact with U.S. safety investigators. Musk said in Monday's email Tesla would still rapidly hire people to fill critical positions "to support the Model 3 production ramp and future product development". Read More »

China's ZTE says United States sanctions have crippled operations

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But the phone and network equipment maker, who the U.S. accused of spying on American citizens and corporations on behalf of the Chinese government, has found an unlikely ally in U.S. While it's not surprising that Trump would announce his support for such a move on Twitter , the fact that he's so forcefully supporting ZTE in the first place raises eyebrows for a number of reasons. Read More »

Global Markets: Oil soars after Trump dumps Iran nuclear deal, stocks gain

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Walking away from the deal means the United States will likely re-impose sanctions against Iran after 180 days, unless some other agreement is reached before then. Saudi Arabia will seek to develop its own nuclear weapons if Iran does, Foreign Minister Adel al-Jubeir told CNN on Wednesday, amid spiraling tension between the regional rivals. Read More »

Co-founder Sachin Bansal quits Flipkart following Wallmart takeover

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Now the story changes though, from an Indian and American firm fighting it out, to India being the new battleground for the Walmart vs Amazon contest. Flipkart and Walmart will maintain distinct brands and operating structures post this investment, he said promising that Flipkart will continue to remain a marketplace where sellers from around the country can connect with customers. Read More »

Bill Gates Proclaims Crypto Governed by "Greater Fool Theory"

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Gates said the United States is making the issue "a bit challenging right at the moment in terms of predictability and stability and finding the right approach". Buffet called Bitcoin as " rat poison squared " and Munger said Trading Cryptocurrency is like trading turds. He also said cryptocurrency would come to a bad end. Read More »