Business

The Bank of Canada monetary policy statement from July meeting

The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. "Despite hiking rates today, the Bank of Canada is in no rush to continue pushing rates higher given the uncertainties surrounding trade, lingering concerns about housing and household debt, and renewed belief that there's some labour market slack". [Full Article...]

USA 'firing at itself' with trade measures: China

USA 'firing at itself' with trade measures: China Charlie Souhrada, a vice president of the North American Food Equipment Manufacturers, says the duties could raise the cost of a pressure cooker made by one of its members, Henny Penny. "Whenever the train has left the station we are allowed to enter the platform", a Beijing-based European executive said. The first round of tariffs today could shave 0.15 percentage point and 0.1 percentage point... [Full Article...]

Could Saudi Arabia replace all barrels lost from Iran sanctions?

Could Saudi Arabia replace all barrels lost from Iran sanctions? However, it has not produced more than 10.42 million bpd on an annual basis or 10.63 million bpd in a single month in the last 20 years. He added that 1.2 million Iranian barrels a day were off the market the last time Iran was sanctioned, but that was possible because USA shale drilling was growing at a rapid pace, demand was lower and Libyan output had come back to the market to make up for so... [Full Article...]

Dog on JetBlue flight given oxygen mask

Dog on JetBlue flight given oxygen mask They pulled her out of the carrier and noticed that she was panting, panicking, and her tongue was turning blue, a sign of not getting enough oxygen. But Burt told the attendant the dog was struggling, and that's when attendants Renaud Fenster and Diane Asher came to help, she told the airline. [Full Article...]

Turkey's New Era: Turkish President Erdogan takes oath of office

Turkey's New Era: Turkish President Erdogan takes oath of office The lira has also fallen by a fifth in value against the dollar this year. The currency has been battered by concern about Erdogan's drive for lower interest rates and comments he made in May saying he planned to take greater control of the economy after the June 24 elections. [Full Article...]

Woman on oxygen machine dies after power company cuts off electricity

Woman on oxygen machine dies after power company cuts off electricity Her nurses sent the company another letter in April, when Daniels started using an oxygen tank, she said. "She was scared, and she was holding our hands tightly", said Desiree Washington, Daniels' daughter. Her daughter Desiree said energy provider PSEG shut off her mother's service because she had fallen behind on payments. A source involved in the rescue mission who saw two of the four b... [Full Article...]

British PM meets Dutch counterpart in key Brexit week

British PM meets Dutch counterpart in key Brexit week Simon Hoare, MP for North Dorset, took to Twitter to tell Rees-Mogg: "The hectoring nonsense / blackmail has to stop, the reality of parliamentary arithmetic dawn and the calamity of a Corbyn Government woken up to". Both options have been dismissed by the EU. "Details of the new plan have not been revealed publicly but senior ministers will discuss it at Chequers, the prime minister's countr... [Full Article...]

Oil markets volatile as trade conflict between USA and China escalates

Oil markets volatile as trade conflict between USA and China escalates United States crude futures added 34 cents, or 0.5%, to $74.14. "If the Saudis and others replace the losses from Iran , there will be basically no spare capacity left", Societe Generale analyst Michael Wittner said . " We will switch to either Middle East or West African supplies ", he said. "They can import more, but can they process it?" The report said Hojjat al-Islam Mojtaba Zolnour, a ... [Full Article...]

Erdoğan sworn in as Turkish president with enhanced powers

Erdoğan sworn in as Turkish president with enhanced powers The radical changes were approved by a razor-thin majority in an April 2017 constitutional referendum. He defeated a coalition of opposition parties in a snap election last month to hold onto power. Those attending the ceremony at the presidential palace on Monday evening will include Russian Prime Minister Dmitry Medvedev, in a new sign of the warm ties between Ankara and Moscow. [Full Article...]

Nostalgic social network 'Timehop' loses data from 21 million users

Nostalgic social network 'Timehop' loses data from 21 million users However, Timehop claims that the tokens were deauthorized and made invalid within a "short time window" and can not be used to gain access to users' social media profiles. Timehop first disclosed the cyberattack publicly in the Sunday blog post , several days after the breach unfolded. As a result of the breach, you'll have to log back into Timehop next time you load up the app and reauthenti... [Full Article...]

David Davis, British Brexit Secretary, resigns: United Kingdom media reports

David Davis, British Brexit Secretary, resigns: United Kingdom media reports What appears to have kickstarted the resignations, however, is May's reintroduction of "collective responsibility", a British convention which means ministers are formally banned from disagreeing with government policy, including the Brexit plan. [Full Article...]

Starbucks to eliminate plastic straws by 2020

Starbucks to eliminate plastic straws by 2020 While straws have become a high-profile issue, they make up only about 4% of the plastic trash by number of pieces, and far less by weight. The company will broaden the manufacture and use of what some in social media have dubbed the " adult sippy cup ". [Full Article...]

Jaguar Land Rover Says 40,000 Jobs At Risk From Bad Brexit Deal

Jaguar Land Rover Says 40,000 Jobs At Risk From Bad Brexit Deal However, in an interview with the FT Dr Speth said that although the company's "heart and soul" was in the United Kingdom, the spectre of a no-deal Brexit could have a significant impact on its business and its 40,000 employees across the country. [Full Article...]

Seattle’s Ban On Plastic Straws And Utensils Now In Effect

Seattle’s Ban On Plastic Straws And Utensils Now In Effect Humans have dumped an estimated 150 million metric tons of plastic into the Earth's marine environments; we add another 8 million metric tons every year. Seattle's ban is part of a 2008 ordinance that requires restaurants and other food-service businesses to find recyclable or compostable alternatives to disposable containers, cups, straws, utensils and other products. [Full Article...]

Trump Tariffs Against China Take Effect

Trump Tariffs Against China Take Effect The Trump administration has contended that China has deployed predatory tactics in a push to overtake U.S. technological dominance, including cybertheft and requiring USA companies to hand over technology in exchange for access to China's market. [Full Article...]

Seventh 16+1 Summit takes place in Sofia

Seventh 16+1 Summit takes place in Sofia China has promised billions of dollars for development projects in the region as part of its Belt and Road strategy to carve out new export markets. The Sofia summit comes the day after a tariff spat between China and the U.S. China and the 16 countries at the summit "need to carefully study how our cooperation can fit in with the European Union laws and regulations", Li said. [Full Article...]

Stocks, euro rise as shots fired in U.S.-China trade war

Stocks, euro rise as shots fired in U.S.-China trade war Private US firms added 177,000 employees last month, according to payrolls firm ADP, a bit below the pace in May but a level that was still seen as solid. Stocks edged higher in Europe, with the pan-European FTSEurofirst 300 index closing 0.2 percent higher. Stocks closed broadly higher Friday, snapping two consecutive weekly declines for the market. [Full Article...]

Europe's largest speed trader bets on crypto, Bitcoin yawns in response

Europe's largest speed trader bets on crypto, Bitcoin yawns in response Speed trader and CEO of Flow Traders NV , Dennis Dijkstra recently reported to Bloomberg that his firm would be soon selling cryptocurrency products. As of yet, Dijkstra has not addressed whether or not Bitcoin or Ethereum will be utilized by Flow Traders to hedge each trade. The plan thus far for Flow Traders is to hedge ETN along with CME or CBOE in terms of futures contracts and will... [Full Article...]

ZTE names new CEO, other top executives to comply with US mandate

ZTE names new CEO, other top executives to comply with US mandate Commerce Department said it would lift a supplier ban on ZTE that could have put the company out of business. The US had imposed sanctions on ZTE for illegal sales to Iran and North Korea but the Chinese company agreed to take corrective action. [Full Article...]

Canada's Trade Deficit Widens on Surprise Export Decline

Exports to the United States slipped by 0.2 per cent while imports increased by 1.0 per cent and as a result, the trade surplus with the United States shrank to $3.29-billion in May from $3.69-billion in April. Aircraft drove the advance, more than tripling to $937 million on the import of several airliners from the United States. "Imports from countries other than the United States rose 2.9 per... [Full Article...]


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