Business

German coalition fracturing over immigration issues, Seehofer set to resign

German coalition fracturing over immigration issues, Seehofer set to resign The CSU's showdown with Merkel comes as it faces an October state election in Bavaria in which it fears losing its cherished absolute majority. Merkel's Christian Democrats (CDU) and their long-time Bavarian Christian Social Union (CSU) allies agreed on Monday to set up special transit zones at the border with Austria where migrants already registered in other EU countries will be held and the... [Full Article...]

Amazon Prime Day gets bigger, longer as retailer hunts for new subscribers

Amazon Prime Day gets bigger, longer as retailer hunts for new subscribers In another first, Amazon is looking to leverage its Prime Now app in four cities on Prime Day to offer two-hour deliveries to customers across categories, including smartphones and electronics. "We anticipate strong response and we prepared accordingly", Jamil Ghani, vice president of Prime global, said in an interview. Amazon will also be offering discounts on Amazon devices which inc... [Full Article...]

Tesla nearly hit its Model 3 goal of 5,000 cars a week

Tesla nearly hit its Model 3 goal of 5,000 cars a week The statement said that the regular Model 3 assembly line alone should be able to reach 5,000 cars a week "soon", but that the new GA4 assembly line will eventually help the company exceed that rate. Tesla's milestone achievement did not alter a recommendation to short Tesla stock from David Kudla, founder and chief executive of Mainstay Capital Management in Grand Blanc, Michigan. [Full Article...]

LeBron James' first Lakers game against Warriors will be in San Jose

LeBron James' first Lakers game against Warriors will be in San Jose Unlike his two previous forays in free agency, James did not drag out his decision and made the announcement less than 24 hours after National Basketball Association free agency opened. It also helps that the Lakers are one of the game's premier franchises. Their relationship was never a great one, but has splintered in recent years. [Full Article...]

Dell near deal to swap out DVMT tracking shares

Dell near deal to swap out DVMT tracking shares Each share of Dell Technologies Class V stock will be converted into about 1.37 shares of Class C common stock, Dell Technologies said . Dell in its early years focused on commercial clients, but that changed in the late 1990s when it garnered a huge following among techies who desired more options in customizing PCs. [Full Article...]

Saudi King made no promises on oil production despite Trump's request

Saudi King made no promises on oil production despite Trump's request On the other hand, Saudi Arabia and Russian Federation have spare production capacity and could presumably ramp up their production to help address the new OPEC policy. "Russian Federation could increase its output by 300,000 bpd, while others [Kuwait, the UAE and Iraq] increase by 300,000 bpd", Iradian said. That would be roughly 1 million barrels per day of crude oil output increase accord... [Full Article...]

Trump says Saudis must compensate for drop in Iran oil supply

Trump says Saudis must compensate for drop in Iran oil supply He hopes that will keep prices low - and motorists happy with cheaper fuel - as he tries to force the Iranians out of the market. Referring to reports that Saudi Arabia may increase its oil exports to replace Iranian oil in world markets, Jahangiri said: "Anyone trying to take away Iran's oil market (share) would be committing great treachery against Iran and will one day pay for it". [Full Article...]

Donald Trump, Saudi king discuss oil markets, no mention of production plans

Donald Trump, Saudi king discuss oil markets, no mention of production plans The statement did not mention any intention by Saudi Arabia, the world's top oil exporter, to raise production to 2 million barrels per day. Russian Federation could also add as much as 400,000 barrels a day, analysts say. "We will be in uncharted territory". "If we take 2 million barrels of oil off the market, what is going to be left in the tank?" North America's oil markets have tightened sig... [Full Article...]

As Toys ‘R’ Us Closes For Good, Workers Campaign For Severance

As Toys ‘R’ Us Closes For Good, Workers Campaign For Severance The famed toy emporium filed for bankruptcy last fall and announced it would be shutting down all locations across America in March. But numerous children who happily sang the "I don't wanna grow up, I'm a Toys R Us kid" jingle grew into busy parents who found shopping online more convenient. [Full Article...]

Rupee breaches 69-per-dollar level; mild intervention from RBI seen

Rupee breaches 69-per-dollar level; mild intervention from RBI seen At the interbank foreign exchange market, the rupee opened at 68.87 a dollar against 68.61 previously and sank to 69.10 in morning deals, falling 49 paise. "There is a little bit of panic in the market as we are venturing into new territory", said Kishore Narne, head of commodity and currency at Motilal Oswal Financial Services Ltd. [Full Article...]

Boeing Unveils Hypersonic Mach 5 Jet Concept

Boeing Unveils Hypersonic Mach 5 Jet Concept Boeing's hypersonic concept aircraft. Hypersonic jet planes are an advance on supersonic planes such as the Concorde (see above), which used to hop from London to NY in less than three hours. "Engineers are working company-wide to develop enabling technology which will position the company for the time when customers and markets are ready to reap the benefits of hypersonic flight". [Full Article...]

Looming beer shortage risks leaving England's World Cup fans gasping

Looming beer shortage risks leaving England's World Cup fans gasping Beer rationing has begun in the United Kingdom due to a shortage of food-grade carbon dioxide across Europe. 'We are now working hard with our suppliers to minimise the impact for our customers and can not comment further at this stage'. [Full Article...]

President warns Harley-Davidson: 'We won't forget'

President warns Harley-Davidson: 'We won't forget' House Speaker Paul Ryan, whose district is home to some of Harley-Davidson's facilities, also pointed to the company as an American firm that would be a victor from tax reform. Trump said he's getting other countries to reduce and eliminate tariffs and trade barriers, citing India as an example, and to open up markets. Trump first responded angrily to the Harley announcement on Monday, sayin... [Full Article...]

Trump denies he´s to blame for Harley-Davidson decision

Trump denies he´s to blame for Harley-Davidson decision President Donald Trump late on Monday went after iconic American motorcycle company Harley-Davidson after the company announced it was moving some production out of the US. The company did not say whether any jobs are at risk. "Harley is really one of those creme de la creme manufacturers to get into", Schreiber said. [Full Article...]

Crude oil futures edge higher as focus shifts to U.S. inventories - Oil

Crude oil futures edge higher as focus shifts to U.S. inventories - Oil Canary LLC CEO Dan Eberhart on the impact of the OPEC decision to boost oil production. He was seeking to reassure the market after several cartel members said the actual increase will only reach 700,000 because some nations are incapable of pumping more. [Full Article...]

US wants India to stop all oil imports from Iran by November

US wants India to stop all oil imports from Iran by November In speech broadcast live on state TV, Rouhani blamed the spontaneous demonstrations that erupted across the country a day earlier on "foreign media propaganda", and accused the U.S. Iran is one of the world's largest oil producers, with exports worth billions of dollars each year. Now, it needs to be seen how the Narendra Modi government in Delhi will find a solution to the issue to avoid Unit... [Full Article...]

Harley-Davidson, stung by tariffs, shifts some USA production overseas

Harley-Davidson, stung by tariffs, shifts some USA production overseas Armed with these facts, some of them supplied by Harley Davidson itself, New Delhi has attempted to reach out to Trump, getting a simple, compact factsheet - showing how small the issue was compared to overall trade between the two sides - as close to the Oval Office as possible. [Full Article...]

Chip stocks plunge after Trump's reported plan to restrict foreign technology investment

Investors were on guard for further escalation of trade hostilities between the U.S. and China. "Under the plan, the White House would use one of the most significant legal measures available to declare China's investment in U.S. "Our base case remains that cooler heads will prevail and that a more adverse trade war will ultimately be averted", the Deutsche Bank economists said in their note. [Full Article...]

Turkey elections: Tayyip Erdogan wins presidential race

Turkey elections: Tayyip Erdogan wins presidential race All this raises a couple of important questions: First, why did the United States just sell a bunch of F-35s to Turkey in the face of opposition from Congress? There are ongoing debates about whether the election was "free", amid reports of ballot stuffing and vote rigging. [Full Article...]

Harley workers are first casualties in trade war

Harley workers are first casualties in trade war Securities and Exchange Commission today, June 25, 2018 . The Bush administration learned this lesson when it imposed steel tariffs in 2002. The company also warned of a potential "significant impact" from retaliatory tariffs after President Donald Trump announced the steel and aluminum tariffs . [Full Article...]


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