Business

You’re About to Pay Higher Online Taxes After Supreme Court Ruling

You’re About to Pay Higher Online Taxes After Supreme Court Ruling The decisions made it more hard for states to collect sales tax on certain online purchases, and more than 40 states had asked the high court for action. The estimate represented between 2 and 4 percent of total state and local sales tax collections in 2016, the analysts said. That number could only rise if the South Dakota decision begins to take effect. [Full Article...]

Trump threatens 20 percent tariffs on EU cars

Trump threatens 20 percent tariffs on EU cars In Tokyo, Chief Cabinet Secretary Yoshihide Suga told a press conference the Japanese government "will tenaciously continue to urge ( more ) exemptions from additional tariffs". After it announced the $3.2 worth of tariffs that took effect Friday, the European Union threatened to slap tariffs on an additional $4.3 percent of USA products if the US responded with any additional tariffs of its own... [Full Article...]

Iraq confident of OPEC deal to raise oil output

Iraq confident of OPEC deal to raise oil output Saudi Arabia and Russian Federation - with support of major consumers India , China and the U.S. - are calling for a loosening of production restrictions to boost global supply and lower prices. Iran's output is also anticipated drop when Trump's sanctions come into effect later this year. The International Energy Agency, which represents consuming nations, expects demand to grow more slowly ... [Full Article...]

OPEC agrees modest hike in oil supply after Iran softens stance

OPEC agrees modest hike in oil supply after Iran softens stance But Iran, bracing for the impact of fresh U.S. sanctions on its oil exports, fiercely objected to raising output targets, as did countries like crisis-hit Venezuela and Iraq who are unable to raise output in the near term. But Iranian Oil Minister Bijan Zanganeh said that was not the case: "Each country which has produced less (than its allocation) can produce more ". [Full Article...]

OPEC Agrees to Boost Oil Output

The minister said the difference between that amounts to "a little bit less than 1 million barrels". "This means that Saudi Arabia can increase its production by less than 100,000 bpd, Qatar can produce an additional 70,000 bpd", Zanganeh told Argus Media. [Full Article...]

Saudi Arabia Likely to Be Included in MSCI Emerging Market Index

Saudi Arabia Likely to Be Included in MSCI Emerging Market Index Argentina and Saudi Arabia's entry into the emerging market indices of Morgan Stanley Capital International (MSCI) could cause capital outflows of around 8 trillion won (US$7.27 billion) from the South Korean bourse, experts said Thursday. [Full Article...]

SCOTUS ruling has huge implications for online shopping

Many e-commerce giants like Amazon and Walmart already collect sales tax because they're so big they have a large enough presence throughout various states to collect sales tax. Any adjustment to those rules with the potential to disrupt the development of such a critical segment of the economy should be undertaken by Congress. [Full Article...]

OPEC inches towards oil output deal ahead of key meeting

OPEC inches towards oil output deal ahead of key meeting The Organization of Petroleum Exporting Countries would need to ratify the recommendation on Friday at its formal meeting. Saudi Arabia , backed by non-member Russian Federation, is now racing to convince the alliance to raise production again in order to meet growing demand in the second half of 2018. [Full Article...]

India strikes back at U.S. with tariff hike on farm, steel products

India strikes back at U.S. with tariff hike on farm, steel products As per UN COMTRADE-WITS data sourced by the government, U.S. imports steel items worth approximately $795 million and aluminium products worth $424 million from India. This measure was targeted at Harley-Davidson motorcycles. In February, India had slashed customs on imported high-end motorcycles like Harley Davidson to 50 per cent but the move had failed to please Mr Trump, who wanted it to b... [Full Article...]

India Imposes Retaliatory Tariffs On US, Here's What's Targeted

India Imposes Retaliatory Tariffs On US, Here's What's Targeted Trump said Monday that China's decision to retaliate in kind against his first batch of $50 billion in tariffs required a USA response to encourage Beijing to change its unfair practices. trade relations are thorny even in the best of times, analysts say, with the United States pushing for market access and voicing concerns over intellectual property rights while India wants protections for it... [Full Article...]

European Union to impose duties on USA imports Friday after Trump tariffs

European Union to impose duties on USA imports Friday after Trump tariffs Peanut butter and bourbon whiskey among products on list. Brussels imposed the raft of duties on U.S. products worth 2.8 billion euros (£2.45 billion) in a tit-for-tat response to Mr Trump's decision to slap stiff tariffs on European steel and aluminium exports. [Full Article...]

Oil Prices Jump Ahead Of OPEC Meet. Five Things To Know

But analysts said trade concerns and disagreements within the Organization of the Petroleum Exporting Countries (OPEC) over boosting supply continue to loom over the market . Tehran is concerned that an increased supply of crude on the market would make it easier for the United States to pressure allies to support a ban of Iranian oil similar to the one imposed under the Obama administration. [Full Article...]

Upping ante, Trump threatens new tariffs on Chinese imports

Upping ante, Trump threatens new tariffs on Chinese imports Trump is reiterating at the National Federation of Independent Business that he's trying to renegotiate NAFTA or he will seek separate trade deals with Canada and Mexico. "There's definitely some element of pressure here as we go through the trade war fears, as well as the rhetoric for tariffs", said Sid Mokhtari, executive director of institutional equity research at CIBC. [Full Article...]

Hardline ally fires migrant ultimatum at Merkel as Trump wades in

Hardline ally fires migrant ultimatum at Merkel as Trump wades in Later in the day, she will host the new Italian Prime Minister, Giuseppe Conte, who is heading a government with an anti-immigration agenda. On Monday, the CSU agreed to give Merkel two weeks to seek agreements with European partners. "By granting Merkel her two weeks, the CSU is ostensibly making effective bilateral deals their condition for staying in the grand coalition", said Mujtaba Rahman, m... [Full Article...]

Audi CEO arrested over diesel scandal

Audi CEO arrested over diesel scandal Audi AG confirmed the arrest in an email and pointed out that Stadler is innocent until proven guilty, declining to comment further. Another high profile figure under scrutiny in the diesel scandal is former Volkswagen CEO Martin Winterkorn, who was indicted in May on charges of conspiracy and fraud related to the emissions cheating. [Full Article...]

Saudi, Iran brace for tense OPEC meet over oil supply

Saudi, Iran brace for tense OPEC meet over oil supply Saudi Arabia and Russian Federation are said to be proposing a production boost of 1.5 million bpd, which observers and OPEC sources think is just a starting point for negotiations to settle on a compromise at somewhere between 500,000 bpd and 700,000 bpd. [Full Article...]

EU to start imposing retaliatory tariffs on US on Friday

The EU countermeasures cover a total of around 200 categories of US products also including various types of corn, rice, orange juice, cigarettes, cigars, t-shirts, cosmetics, boats and steel. The tariffs are the latest in a tit-for-tat row between the traditionally close allies, which began when Donald Trump introduced harsh tariffs on imported steel and aluminium. [Full Article...]

Burger King apologises for 'offensive' World Cup pregnancy offer

Burger King apologises for 'offensive' World Cup pregnancy offer Burger King also claimed that the initiative was a display of " social responsibility " on the part of the company, as " the women, who would obtain the best football genes, will ensure the success of the Russian team for generations to come ". [Full Article...]

Marriott tests Alexa as an in-room butler

Marriott tests Alexa as an in-room butler Upon checkout, Alexa for Hospitality will automatically disconnect their account from the in-room device. Other tasks that Alexa for Hospitality can do include checking guests out of their room, turning on the lights or playing lullabies to help them fall asleep. [Full Article...]

Starbucks To Close 150 U.S. Stores as Sales Growth Underwhelms

Starbucks To Close 150 U.S. Stores as Sales Growth Underwhelms Competition from rivals like McDonald's and Dunkin' Donuts is heating up, said Bernstein analyst Sara Senatore in a research note. The world's largest coffee chain has faced increasing competition from upscale coffee houses and fast-food chains like McDonald's Corp and Dunkin Donuts in recent years, missing analysts' estimates for same-store sales in the USA -dominated Americas region in five of... [Full Article...]


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