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Oil slips as economic concerns outweigh tighter supply

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The energy information administration and the International Energy Agency , a global group of oil-consuming nations, had predicted that the USA would eventually pass Russian Federation and Saudi Arabia but possibly not until 2019. In May, US President Donald Trump pulled out of an worldwide nuclear deal with Iran , OPEC's third-biggest producer, and announced the imposition of sanctions. Read More »

Goldman Sachs Has Dropped Plans for Crypto Trading Desk

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Bitcoin's price at the time of this writing is $7,013 and the currency is testing the $7,000 support mark. A Goldman spokesman said the bank had yet to decide on the scope of its "digital asset offering". Instead, the bank will reportedly focus on a custody product for digital currencies created to serve large, institutional clients. On 7th September, during the TechCrunch Conference, Disrupt, the CFO of Goldman Sachs , Martin Chavez said that he holds some Bitcoins since 2015 ... Read More »

China Threatens Retaliation if President Trump's New $200 Billion Tariffs Go Ahead

If the president follows through, the threatened tariffs and those already in place would more than cover the value of all goods the United States buys from China , according to USA government data from previous year. It said in a late submission that its AirPods headphones, some of Apple's Beats headphones, and its new HomePod smart speaker would face levies, causing its shares to slip in late trading. Read More »

Obama attacks 'crazy stuff' from Trump White House

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Obama stated that this was not how democracy worked, saying: "And by the way the idea that everything will turn out OK because there are people inside the White House who secretly aren't following the President's orders", he said. But he dropped that political tradition in IL, the state where he launched his own political career, saying a vote against Republicans could restore "honesty and decency and lawfulness" to government. Read More »

Student's fake poster hangs at McDonald's for months

In June, Maravilla and Toledo went to work on their poster. Maravilla said he was with a friend at McDonald's when they noticed a blank wall and the idea of making sure Asians were represented was born. He told USA Today: "Like, for Asian men". "We weren't trying to make a bad rap with them, we weren't trying to do any harm", Maravilla said. Maravilla, who attends the University of Houston , told Click 2 Houston , 'I hope this can open the eyes of McDonald's and their corporation to ... Read More »

Democratic Activist Ousts Incumbent Massachusetts Congressman in Primary

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The 63-year-old Lynch is a former union ironworker and grew up in South Boston . Democratic congressional nominee Ayanna Pressley took a shot at President TrumpDonald John TrumpBrennan defends Kaepernick: He didn't kneel "to disrespect our flag" Trump warns Syria against attack on rebel stronghold: "Don't let that happen" Omarosa celebrates second week on bestsellers list despite "hit-pieces" from Trump allies MORE in her victory speech on Tuesday night. Read More »

Amazon becomes second USA company to be worth US$1 trillion

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If the online retailer's share price continues at its recent pace, it will be a matter of when, not if, Amazon's market valuation eclipses that of iPhone maker Apple, which reached $1 trillion on August 2 . Amazon reported almost $US53b in sales in the three months ended in June, with record quarterly profit of $US2.5b. Amazon retreated slightly after hitting the milestone, and near 1545, it was up 1.3 percent to $2,038.71. Read More »

Expect bigger petrol price increases following government intervention

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Petrol was being sold at Rs 86.56 per litre ( increased by Rs 0.31 per litre) in Mumbai while diesel spurted to a new high of Rs 75.54 per litre (increase by Rs 0.44 per litre). The excise duty has remained unchanged for the past four months but the Value-Added Tax applied on diesel today is Rs 10.12 per litre and that on petrol is Rs 16.42 per litre. Read More »

NAFTA successor deal makes US bottom line clearer

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Trump has presented this as a bilateral deal and threatened Canada with vehicle tariffs. "Let's make a great deal like we just made with Mexico ", Kudlow said. On the editorial page of the Rupert Murdoch-owned newspaper, the new agreement - involving Mexico but not Canada - was condemned as "notably worse in many ways", based on what little is known about it. Read More »

S&P 500, Nasdaq end at records after Fed speech

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The work, by top research economists at the Fed , comes as Mr. Powell is set to speak to an annual gathering of central bankers at the Kansas City Fed's symposium in Jackson Hole, Wyo . The benchmark S&P 500 stock index notched its longest bull market, closing above its previous January high, after Powell's comments at a meeting of central bankers reaffirmed expectations of an interest rate hike in September and perhaps again in December. Read More »

The Law Behind Michael Cohen Case

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US President Donald Trump warned on Thursday (Aug 23) of a stock market crash if he were removed from office, playing his ace card - the economy - to stave off talk of impeachment . In his first public comments, back in April, about his alleged affair with Stormy Daniels, Mr Trump denied knowing about the $130,000 (£100,000) payment made to the actress via Cohen. Read More »

UNIAN: Trump names conditions for Russian Federation sanctions lift

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In particular, he warned, Russian Federation has been rallying and supporting, financially and organizationally, groups on the far left and far right "that stood for really heinous and disgusting causes". Still, some lawmakers and other officials are concerned Russia's behavior is not changing quickly enough. He and the State Department's top diplomat for Europe, Wess Mitchell, said Russian Federation is feeling the impact, costing its economy tens of billions of USA dollars, with companies ... Read More »

Trump (Again) Expresses His Displeasure with Federal Reserve Raising Interest Rates

The president spoke to Reuters in an exclusive interview, the newswire said . He was surprised that Powell has continued his predecessor's policy of gradually raising interest rates, according to reports . The central bank is expected to raise rates at least two more times this year, citing a solid economy with fewer Americans out of work. Corker said comments such as these could be damaging, as it could make the Fed appear to be a political symbol for the public and lead people to ... Read More »

Local nutritionist reacts to report of weed killer in breakfast foods

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A number of foods that contained amounts of glyphosate higher than those suggested by EWG included products made by General Mills , including Cheerios, Lucky Charms and Nature Valley Products. Now of course we have to present the EPA's side: The EPA denies that glyphosate may increase the risk of cancer. Thousands of lawsuits against Monsanto brought by farm workers and others also allege that they developed cancer from long-term exposure to Roundup. Read More »

Turkey issues retaliatory tariffs on United States imports

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Trump's announcement that he would double tariffs on metal imports from Turkey came less than an hour after Turkish President Tayyip Erdogan urged his country to help him defend the nation against an "economic war". Last Friday, U.S. President Donald Trump said he had authorised higher tariffs on aluminium and steel imports from Turkey. "We feel that Turkey, and specifically President Erdoğan, have treated Pastor Brunson - who we know to be a very good person and a strong Christian who's ... Read More »

Turkey doubles tariffs on some USA imports; Turkish lira rallies

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Mr Trump, who has doubled steel and aluminum tariffs on Turkey, said the steel tariffs had kicked in and the aluminium tariffs would take effect soon. In another high-profile case, a Turkish court freed Taner Kilic, the local chair of Amnesty International , a researcher from the rights group said. Read More »

Taiwanese firms in Turkey face risk as local currency crashes

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Turkish business groups are begging President Recep Tayyip Erdogan to make amends with the U.S.in an effort to save the Turkish economy, the Financial Times reported . While even a widespread Turkish boycott would do little to dent USA economic interests, it shows Erdogan refusing to give in to market turmoil that's pushed borrowing costs to record highs and threatens to descend the nation into a financial crisis. Read More »