Markets

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...]

Italy's new PM says to take 'moderate' line on tariffs at G7

Italy's new PM says to take 'moderate' line on tariffs at G7 President Donald Trump fired off what appeared to be some passive-aggressive tweets to world leaders on Thursday, one day before he is set to meet G7 leaders for a summit in Canada . On Saturday, President Donald Trump yet again responded to Canadian Prime Minister Justin Trudeau using his favorite platform: Twitter . "Prime Minister Trudeau is being so indignant, bringing up the rel... [Full Article...]

Chinese phone maker ZTE saved from brink after deal with U.S.

Chinese phone maker ZTE saved from brink after deal with U.S. The logo of ZTE Corp is seen on its building in Beijing, China April 19, 2018. The government will suspend the 10-year ban but it can activate the ban if there are any violations. Ross, speaking about the agreement on CNBC today, said he did not think the arrangement would have any effect on tariff talks with China. ZTE has been banned from obtaining products and services from American sup... [Full Article...]

'Exciting step' as test drives of flying auto begin

'Exciting step' as test drives of flying auto begin Larry Page's flying vehicle project Kitty Hawk was successfully tested. Backed by Google co-founder, Larry Page , the company has been working on Flyer for approximately a year but has now opened a training facility so potential buyers can take a spin. [Full Article...]

Tesla on autopilot sped up before fatal solo crash in March

Tesla on autopilot sped up before fatal solo crash in March Then, seven seconds before the crash, the Tesla began drifting left to align with the lead vehicle as it headed into a left-side exit. According to the NTSB, the vehicle was following another auto in front of it using Tesla's Autopilot system until about seven seconds before the impact. [Full Article...]

ZTE Signs Preliminary Agreement With Commerce Department To Lift US Ban

ZTE Signs Preliminary Agreement With Commerce Department To Lift US Ban ZTE relies on USA parts and the ban also hurt ZTE's us suppliers. The US has reached an agreement to lift sanctions on Chinese telecom equipment maker ZTE, Commerce Secretary Wilbur Ross said Thursday. Shenzhen-based ZTE has a subsidiary in Richardson, Texas. So the USA went nuclear on ZTE, imposing a seven-year ban on U.S. companies selling technology to the Chinese firm. [Full Article...]

With swift cancellation of 'Roseanne,' ABC draws line in sand

With swift cancellation of 'Roseanne,' ABC draws line in sand She said of the Jarrett tweet , "It was 2 in the morning and I was ambien tweeting". Roneanne said a racist thing, the show is over, and it now feels like a better move for everyone to move on. It was something rare in today's U.S. entertainment: a depiction of an extended working class family, including supporters of President Trump . Jarrett, who said she was "fine" after the slur, urged in ... [Full Article...]

Vermont will pay you $10K to move there - but there’s a catch

Vermont will pay you $10K to move there - but there’s a catch Vermont is aging faster than the rest of the USA population, an economic crisis that has prompted some creative solutions from state officials. Remote workers: the state of Vermont wants you. To qualify for this law, one has to work primarily form a Vermont home office or co-working space and employed full time by an out-of-state firm. Following the completion of the third year, the progr... [Full Article...]

Steel and aluminum tariffs to apply to EU, Mexico, Canada

Steel and aluminum tariffs to apply to EU, Mexico, Canada Prior to Ross's announcement, a senior Canadian official, speaking on condition of anonymity citing the sensitivity of the situation, confirmed Canada has prepared a list of US products that might face retaliatory tariffs , but declined to give further details. [Full Article...]

Canada's Government Buys Controversial Oil Pipeline, To Ensure It Gets Expanded

Canada's Government Buys Controversial Oil Pipeline, To Ensure It Gets Expanded Under the plan, revealed Tuesday by federal Finance Minister Bill Morneau, Kinder Morgan will go ahead with its original plan to twin the pipeline this summer while the sale is finalized. "Prime Minister Justin Trudeau is making a historic mistake in buying the doomed Kinder Morgan project", Adam Scott, senior adviser at Oil Change International (OCI), said in a statement denouncing Trudeau's de... [Full Article...]

Starbucks to Close Stores for Anti-Bias Training

Starbucks to Close Stores for Anti-Bias Training Tuesday's four-hour session will give workers a primer on the history of civil rights from the 1960s to present day. Employees will talk about their own experiences, and watch a film about bias. One afternoon wouldn't really be "moving the needle on the biases", especially with a company that has as many employees as Starbucks, he said. For example, if another white manager chooses to call the cop... [Full Article...]