Markets

Rupert Murdoch gets go-ahead to bid for all of Sky

Rupert Murdoch gets go-ahead to bid for all of Sky Fox has been trying to get approval from United Kingdom regulators since 2016 to buy the 61% of Sky it does not already own. Fox made the new offer in an attempt to outbid its rival Comcast, which has offered Sky £12.5 (Rs. Fox will be hoping to see off competition from Comcast after a long battle to buy the remaining stake in Sky, having faced heavy scrutiny from the Government and the competi... [Full Article...]

China court bans Micron chip sales in patent case

China court bans Micron chip sales in patent case In January, UMC filed a patent infringement lawsuits against Micron. The dispute follows a ban on US firms supplying parts to China's telecom equipment maker ZTE as well as the drawn-out wait for Chinese regulators to approve Qualcomm Inc's $44 billion takeover of NXP Semiconductors. [Full Article...]

Trade Wars: Trump loads first volley against China

Trade Wars: Trump loads first volley against China The first round targets Chinese industrial goods, not consumer products, in an attempt to limit the impact on USA households, but companies that rely on Chinese-made machinery or components may eventually have to pass along increased costs to customers. [Full Article...]

Saudi Arabia says ready to boost oil production, taking aim at Iran

Saudi Arabia says ready to boost oil production, taking aim at Iran The fall came as the Russian Energy Ministry said on Monday that the country's oil output increased to 11.06 million barrels per day in June from 10.97 million barrels per day in May. Trump's plans to impose sanctions on Iran, coupled with low production from Venezuela and blockades on some ports in Libya have continued to tighten global supply, pushing up oil prices. [Full Article...]

Why LeBron James Chose Los Angeles Lakers Over All Other Teams

Why LeBron James Chose Los Angeles Lakers Over All Other Teams Sam Amick reported this past weekend that Howard was interested in joining either the Warriors, the New Orleans Pelicans, the Washington Wizards , and wherever team LeBron James would ultimately end up. "This will always be home". James informed the Cavaliers on Friday that he would not exercise his $35.6 million contract option. There have been many photos taken at the banner over the year... [Full Article...]

Mystery Shopper Buys Out Toys R Us Store

Mystery Shopper Buys Out Toys R Us Store As Toys "R" Us stores across the country prepare to close for good Friday night, an employee at the Raleigh location told CBS they would not be open on the final day of business. Days before filing for bankruptcy, Toys "R" Us executives drew millions in bonuses, a scenario that didn't sit well with rank-and-file workers. Curious shoppers checked out the stores, looking for last-minute deals ... [Full Article...]

Russia To Propose Rolling Back 1.8 Million Bpd Of Oil Cuts

Russia To Propose Rolling Back 1.8 Million Bpd Of Oil Cuts With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! USA ally Saudi Arabia remains OPEC's most powerful member - with enough production capacity to manipulate global supplies. [Full Article...]

U.S. Treasury's Mnuchin says new investment curbs not specific to China

U.S. Treasury's Mnuchin says new investment curbs not specific to China The two also agreed to uphold the global trading system under the WTO, which Trump has described as " unfair " and bad for the US . Also Monday, Wisconsin's Harley-Davidson tumbled more than 6% after saying it would move some production out of the USA amid retaliatory tariffs the company said would bring about a "tremendous cost increase". [Full Article...]

Greece creditors agree on deal

Greece creditors agree on deal Greece is slated to leave its financial rescue on August 20 and finance ministers from the 19 countries that use the single currency were under pressure to offer Athens a goodbye deal that left it strong in the eyes of the financial markets. [Full Article...]

Turkey's Erdogan, main rival stage final election rallies

Turkey's Erdogan, main rival stage final election rallies Bahceli said the People's Alliance won the presidential election in the first round, leaving those expecting a crisis "bewildered". The results, if they stand, will be a disappointment to the opposition, which mounted a dynamic election campaign that hoped to push Erdoğan into a second-round run-off against İnce, and to wrest control of the legislature from the AKP. [Full Article...]

Hackers steal $32 mln from cryptocurrency exchange Bithumb

Hackers steal $32 mln from cryptocurrency exchange Bithumb A leading South Korean cryptocurrency exchange said on Wednesday that $31m worth of virtual currencies have been stolen by hackers, a latest in the series of recent hacks that raised security concerns. Bithumb notified a local regulator - the Korea Internet and Security Agency - of the latest attack, shortly before alerting the public via social media. [Full Article...]

China 'underestimated' Trump, a key adviser says

China 'underestimated' Trump, a key adviser says S&P 500 futures were off 0.6 percent, pointing to a another down day for Wall Street shares which slipped on Monday. Trump said that he had ordered US Trade Representative Robert Lighthizer to identify a second tranche of goods imported from China for tariffs of 10 per cent. [Full Article...]

China accuses U.S. of trade ‘abuses’ as India hits back at Trump

China accuses U.S. of trade ‘abuses’ as India hits back at Trump Brussels imposed the raft of duties on U.S. products worth 2.8 billion euros (S$4.4 billion) in a tit-for-tat response to Trump's decision to slap stiff tariffs on European steel and aluminum exports. The new tariffs will go into affect August 4. The U.S. tariffs hit some $7.5 billion of European products; the EU says that today's measures target almost half that figure, and that it plans to imp... [Full Article...]

Elon Musk warns Tesla employees of sabotage at factory

Elon Musk warns Tesla employees of sabotage at factory A Tesla spokeswoman confirmed the authenticity of the Monday email, which CNBC reported first. Musk says this was the right move, "in light of these actions". However, it's not the affordable version of the Model 3 that this line is making. "If they're willing to cheat so much about emissions, maybe they're willing to cheat in other ways?" "Could just be a random event, but as Andy Grove sai... [Full Article...]

Audi boss Rupert Stadler arrested over suspected fraud in diesel emission scandal

Audi boss Rupert Stadler arrested over suspected fraud in diesel emission scandal A German judge has ordered that Stadler be remanded in custody. "We need to find a solution for Audi's leadership for the time when he is not here", the source familiar with the talks said about Stadler's position. It was in September 2015 when VW admitted to using illegal software to cheat US emissions tests on diesel engines. The executive was arrested at his home in Ingolstadt in the earl... [Full Article...]

Rents pricing out minimum-wage workers across the US, report says

Rents pricing out minimum-wage workers across the US, report says In the Oakland metropolitan area, which includes Alameda and Contra Costa counties, renters earn an average of $22 an hour - much more than Oakland's $13.23 minimum wage. Not even in Arkansas, the state with the cheapest housing in the country. Financial experts advise individuals should not spend more than 30 percent of his or her income on housing costs. [Full Article...]

US President Donald Trump approves $50 billion tariff on Chinese goods

US President Donald Trump approves $50 billion tariff on Chinese goods News of the tariffs was initially reported by Bloomberg . But his calls for billions in tariffs could complicate his efforts to maintain China's support in his negotiations with North Korea. Wall Street has viewed the escalating trade tensions with wariness, fearful that they could strangle the economic growth achieved during Trump's watch and undermine the benefits of the tax cuts he signed ... [Full Article...]

AT&T-Time Warner vs. DOJ: Judge Leon's take on the 'epic battle'

AT&T-Time Warner vs. DOJ: Judge Leon's take on the 'epic battle' Other media stocks that saw big price moves after the judge's ruling was announced included 21 Century Fox ( FOX ), whose shares were up almost 5 percent on speculation it could be the subject of a bidding war between Disney ( DIS ), which already has a $52 billion all-stock deal for Fox on the table, and a media giant like Comcast ( CMCSA ), which in recent weeks has been hinting of its inten... [Full Article...]

Document: US, N. Korea aim for ‘complete denuclearization of Korean Peninsula’

Document: US, N. Korea aim for ‘complete denuclearization of Korean Peninsula’ Regarding Trump's surprise announcement that he would put a stop to regular joint ROK-U.S. military drills, Nam said the issue required discussion between the two countries. "He was consulted" on Mr. Trump's decision. Republican Senator Marco Rubio said he was "uncomfortable" with the suspension of military drills, especially "if this becomes permanent in exchange for nothing". [Full Article...]

Cryptocurrencies tumble after S. Korea hack

Cryptocurrencies tumble after S. Korea hack Korea Internet & Security Agency, now carrying out the investigation with police, said only four of the country's largest exchanges are subject to the Information Security Management System certification (ISMS) requirement. Coinrail said hackers stole cryptocurrencies including Pundi X, Aston and NPER. "70% of total coin and token reserves have been confirmed to be safely stored and moved to a col... [Full Article...]