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Trump Raises Retaliatory Tariffs on Chinese Goods as Trade War Escalates

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China on Friday announced plans to unleash two swaths of tariffs on American exports, the first to hit on September 1 and the second on December 15 - the same day that the Trump administration has threatened to launch its own duties, which the president said he delayed to avoid raising prices on American consumers during the holiday shopping season. Read More »

Walmart, Tesla pause in legal fight over fiery solar panels

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On Friday, Amazon.com Inc. said a June 2018 blaze on the roof of one of its warehouses in Redlands involved a solar panel system that Tesla's SolarCity division had installed. Visit Business Insider's homepage for more stories . A Tesla representative denied this. Here's everything we know about Project Titan. "That's how all this goes - we fix stuff as it comes out", the former employee said. Read More »

Amazon To Acquire 49% Stake In Future Coupons

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Future Retail on August 12 had informed the bourses that the promoter family of the company and Future Coupons had entered into a shareholder agreement that lays down the rights of the promoter family and Future Coupons vis-a-vis the company. Read More »

Donald Trump Lashes Out At China, Vows Quick Response To Tariffs

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Those dates match with 10% tariff the Trump administration said would go into effect on $300 billion worth of imports from China. "The Chinese side hopes that the U.S. In 2018, U.S.ag exports to China dropped to $9.1 billion, due to retaliatory tariffs. Neither the Alliance of Automobile Manufacturers nor the Association of Global automakers, however, addressed President Donald Trump's tweet about finding markets other than China. Read More »

Volkswagen denies interest in buying Tesla stake

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Acquiring a stake would be sufficient for a start, the report said . The magazine also reported the Diess has attempted to explore a partnership with Tesla , but that Tesla had declined to discuss the issue. Volkswagen CEO Herbert Diess poses with the ID Vizzion concept EV at the Geneva Motor Show. A banker close to Volkswagen said that while it is true that Diess would love to have Tesla's software developers, he believed it is nearly impossible to justify paying $30 billion ... Read More »

Seth Moulton dropping out of Democratic presidential primary race

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Moulton announced he is dropping from the race. Washington Gov. Jay Inslee also ended his bid this week before announcing he was running for re-election and former Colorado Gov. "I've always said that veering too far left could result in us losing this election, and that Trump will be harder to beat than most people think", he said, echoing Biden in saying people want Obamacare to remain in place and built on as opposed to the government takeover of the sector that Sanders, Warren, and a ... Read More »

Trump says he's raising tariffs on China after its retaliation

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He added that he "hereby ordered" American companies to immediately start looking for an alternative to China and bringing manufacturing operations back to the US. The US actions "have led to the continuous escalation of China-US economic and trade frictions, violating the consensus reached by the two heads of state in Argentina and the consensus reached in Osaka", China's State Council Tariff Commission Office said in a statement . Read More »

Powell: No clear hint on rates but says Fed will aid economy

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But Powell didn't take the bait, and said that if the trade wars have disrupted business investment and confidence and contributed to "deteriorating" global growth, the Fed alone could not fix that through monetary policy. "The July minutes underscore why Fed Chairman Jay Powell had such a hard time explaining the Fed´s decision to cut rates; the vote cleared by an even smaller majority than depicted in the statement; they had two extremes fighting against each other", economist Diane Swonk ... Read More »

China To Raise Import Tariffs On $75B Additional US Goods

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The announcement came as the administration of US President Donald Trump plans to impose 10 percent duties on an additional 300 billion dollars of Chinese imports in two stages, starting on September 1 and then on December 15. The president went on to call on companies to " search for & refuse " shipments of the opioid painkiller fentanyl from China. "China's decision to implement additional tariffs was forced by the U.S.'s unilateralism and protectionism", the ministry said in a ... Read More »

Cannabis store proponent drawn for Sault Ste. Marie

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Nearly 5,000 eligible expressions of interest were included in the lottery draw, which was overseen by a third-party fairness monitor. Once the AGCO receives the applications for licence and authorization, residents in the community have an opportunity to provide written submissions if they believe the location of a store is not in the public interest, under the Cannabis Licence Act. Read More »

United States retailer founder quits after affair with spy Maria Butina

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The controversy surrounding Byrne began August 12 when he issued a unusual and almost incoherent statement with the title: " Overstock .com CEO Comments on Deep State , Withholds Further Comment". Justice officials found aspects of Byrne's story to be believable in part because he shared operational details that were not widely known, the USA official said . Read More »

French Business Activity Expanding in August: PMI

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Andrew Harker, associate director at IHS Markit, said: "The dynamics of the eurozone economy were little changed in August, with solid growth in services continuing to hold the wider economy's head above water despite ongoing manufacturing decline". Read More »

Windsor applicant selected in retail pot store lottery

That application is attached to an individual named Ralph Llacar. The license is one of seven to be granted in the eastern region of Ontario. Another victor was Najla Guthrie, whose store is registered to an address in Toronto's Beaches neighbourhood. Read More »

Lowe's Stock Soars; Sales Growth Beats Home Depot

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Bank Wealth Management. Macy's vowed not to increase prices as a result of the 10% tariff, and CEO Jeff Gennette said the company will speak with vendors about ways to offset rising costs if the trade war escalates. President Donald Trump's announcement of tariffs on an additional $300 billion worth of Chinese goods. A DIMMER VIEW: Shares in Cree tumbled 13.8% after the maker of energy-efficient lighting gave investors a weak forecast as it deals with the fallout from the U.S. Read More »

US states ready antitrust probe of tech titans

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A Justice Department spokesperson, however, declined to comment in response to an inquiry from Cheddar. If true, the move follows the Department of Justice, which last month announced its own antitrust review of how online platforms scaled to their big sizes and whether they are using their power to curb competition and stifle innovation. Read More »

'I am the Chosen One': Trump defends China trade war

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Trump pointed out that China had lost about 2 million jobs, apparently in reference to data from the Chinese investment bank, China International Capital Corp., which said that China's industrial sector had lost 1.8 million to 1.9 million jobs in the past year as a result of the trade war. Read More »

Qantas to conduct three Project Sunrise research flights

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The research flights will be limited to 40 passengers, mostly Qantas staff, to reduce weight so the Dreamliners can make the distance. Qantas is planning to operate non-stop commercial flights from Australia to NY and London , but first, it's conducting trial flights to see how the seriously long travel time will impact passengers and crew members. Read More »

The federal budget deficit is getting bigger as spending grows

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CBO also projected a deeper federal deficit of US$ 960 billion (S$1.34 billion) for fiscal year 2019, which ends on Sept 30, due in part to higher government spending. The deficit will expand faster than thought after recent legislation that raised spending levels, according to the the non-partisan group's annual budget outlook released Wednesday. Read More »

China's new lending reference rate set slightly lower at 4.25%

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There is, however, little clarity over the scope of reductions on borrowing costs for firms. The central bank has since banned this practice. The new mechanism will see bank lending rates linked to the LPR, which will be linked to the PBOC's medium-term lending facility ( MLF ) interest rate . Read More »

Pub Operator Greene King Agrees To £4.6bn Hong Kong Offer

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Greene King now operates more than 2700 pubs, restaurants and hotels across Scotland, England and Wales as well as the Greene King brewery in Bury, St Edmunds, and the Belhaven brewery in Dunbar. Hong Kong's richest family is to buy the 220-year-old company for £2.7bn, it was announced today. Mr Ka-shing is the senior advisor to CK Asset Holdings Limited, which focuses on property, infrastructure and utility assets as well as aircraft leasing, and CK Hutchison Holdings Limited with ... Read More »

Amazon Opens Its Largest Campus in the World in Hyderabad

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It's the only Amazon-owned campus outside the United States, and it speaks to the company's ambition to keep growing in India amid competition with Flipkart , which is owned by Walmart . "Amazon has created 200,000 jobs, both regular and contract jobs, in India, Last year we have surpassed $1 billion exports from India using Amazon global selling platform and we are on track to reach $5 billion in exports in the next three years", he said. Read More »

Global stocks are mixed before US Fed release

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Some officials pressed for a 0.5 percentage point cut, rather than the 0.25 percentage point reduction announced. Wall Street and Trump "are anticipating that Mr Powell will signal that the Federal Reserve is about to embark on a reinvigorated wave of easing, following its global peers", said Jeffrey Halley, OANDA senior market analyst for Asia-Pacific. Read More »

Trump Administration To Allow Indefinite Detention of Families With Children

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The American Academy of Pediatrics has repeatedly said that detention is not suitable for children, who may suffer numerous negative physical and emotional symptoms. The Flores agreement was put into place during the Clinton administration; the Trump administration is now formally trying to replace it. Some families might be granted parole to leave the facilities while the courts decide their fates, according to the officials. Read More »

UK says to skip most EU meetings from Sept 1: government

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Johnson, a staunch Brexiteer, is in Germany this week to reiterate his call for the Irish backstop plan to be scrapped to chancellor Angela Merkel. The Mayor referenced his fellow Pakistani-origin minister, UK Chancellor Sajid Javid, who in his previous role as Home Secretary had indicated the need for a transition period before imposing post-Brexit travel restrictions on European Union citizens travelling to and from the UK. Read More »

U.S. recession fears stalk markets as stocks fall again

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The 30-year Treasury bond yield fell to a historic low on Thursday, slumping below 2 percent for the first time ever amid fears of an impending global recession , which pushed markets lower around the world. -Chinese tariff war has been behind much of this month's selling in stock markets. The S&P 500 and Nasdaq also dropped around 3%. The willingness to accept lower yields on longer-dated assets than shorter-dated ones offer reflects the expectation that the longer-dated ones will produce ... Read More »

Ryanair makes high court attempt to stop pilot strikes

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All Ryanair flights due to leave Irish airports this Thursday and Friday "will now operate as normal", according to the airline after the decision, which affects around 180 pilots who had planned to strike. The British Airline Pilots Association (BALPA) said on Monday that because Ryanair has "wasted time with unnecessary court action", its chance to resolve the dispute involving pilots had been lost. Read More »

Walmart Sues Tesla for Solar Panels That Went up in Flames

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Walmart is suing Tesla for breach of contract after its solar panels allegedly ignited fires on the roofs of Walmart stores, according to a complaint filed Tuesday in the state of NY. In a series of tweets on Sunday, Tesla Inc . After the acquisition, Tesla prioritized outright sales in an effort to boost profitability, ended door-to-door marketing and a partnership with Home Depot Inc. Read More »

US Steel laying off up to 200 workers

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United States Steel's earnings could have provided some badly-needed reprieve for the struggling company. Around 200 personnel at the Great Lakes facility in MI will be terminated in a span of six months, the Pittsburgh-headquartered firm disclosed in a Worker Adjustment and Retraining Notification (WARN) on August 5. Read More »