Money

Stocks rise as economy strengthens, central banks step back

Stocks rise as economy strengthens, central banks step back It revised annual inflation forecast notably up for 2018 and 2019, namely to 1.7 percent for both years, basically meeting ECB's policy aim - below but close to 2 percent in the medium term. A rare gainer, Tesco TSCO.L rose 1.9 percent after Britain's largest retailer said a drive to lower prices had boosted its quarterly sales, in a warning for rivals three years after the firm embarked on a ... [Full Article...]

China Declares Trade War Launched After Trump Unveils $50B Tariffs

China Declares Trade War Launched After Trump Unveils $50B Tariffs Trump has blamed the trade imbalance between the two countries for the loss of American jobs. China has threatened to retaliate forcefully for any tariffs , listing USA products that range from sorghum, soybeans, meat and whiskey to airplanes and cars. [Full Article...]

McDonald's to ditch plastic straws in UK, Ireland

McDonald's to ditch plastic straws in UK, Ireland The new straws will use paper coming from certified sustainable sources, the company said. "McDonald's is committed to using our scale for good and working to find sustainable solutions for plastic straws globally", Francesca DeBiase, the company's executive vice president for global supply chain and sustainability, said in a statement . [Full Article...]

Trump eyes oil prices: ‘OPEC is at it again’

Trump eyes oil prices: ‘OPEC is at it again’ OPEC is a group of 14 nations that seeks to coordinate oil production and greatly influence oil prices. In attempt to bridge differences, OPEC and its allies are looking at a number of options around pumping more oil, including a token increase and delaying the start of any production boost, OPEC delegates say. [Full Article...]

Slain deputy was seven-year veteran of Sheriff's Department

Slain deputy was seven-year veteran of Sheriff's Department The deputy that died was identified as Deputy Patrick Rohrer, 35. The Rev. Vernon Howard, president of the Southern Christian Leadership Conference of Greater Kansas City, bemoaned the "fatality on top of fatality". This is the fourth shooting involving law enforcement officers who were injured or killed in KCK in the past three years. The wounded deputy and the suspect were undergoing surgeri... [Full Article...]

Theranos founder, former president indicted on wire fraud charges

Theranos founder, former president indicted on wire fraud charges The indictment alleges that Elizabeth Holmes and her former chief operating officer, Ramesh "Sunny" Balwani , used marketing, press interviews and financial statements to defraud potential investors on behalf of their company. Holmes and Balwani also told investors that Theranos had used its own system to conduct tests on patients, when it had actually bought third-party analyzers and used th... [Full Article...]

To slap additional 25% tariffs on Chinese cells, modules

To slap additional 25% tariffs on Chinese cells, modules And as Mr Trump warned of "additional tariffs " should Beijing hit back with tit-for-tat duties on American goods, China unveiled 25 per cent duties on US$50 billion in USA imports. a year ago totalled $60m), there could be a substantial indirect cost. Chicago-based Boeing Co., the world's largest planemaker, on Saturday said it's assessing the effects on its supply chain of Trump's tariffs ... [Full Article...]

Champagne out as Wetherspoon pub chain goes British-only ahead of Brexit

Champagne out as Wetherspoon pub chain goes British-only ahead of Brexit As well as including more United Kingdom beers in traditional styles and categories, Tim Martin's pub group with also replace German brand Erdinger's alcohol-free beer with a no ABV version made by Suffolk-based brewer Adnams. However the French champagne industry seemed unconcerned by the news. Speaking to Sky News , he said: "I don't think the customers will think it's too harsh if we can get... [Full Article...]

China vows to retaliate 'immediately' to U.S. tariffs

China vows to retaliate 'immediately' to U.S. tariffs US President Donald Trump will meet his top trade advisers on Thursday to decide whether to activate threatened tariffs on billions of dollars in Chinese goods, a senior White House official said. "We hope the USA side can meet China halfway and earnestly implement this important consensus, and promote the appropriate resolution of the relevant issue through a win-win and not lose-lose manner", ... [Full Article...]

G7 hangover drags the price of oil lower

G7 hangover drags the price of oil lower It's unclear, meanwhile, how markets are reacting to a U.S. And the USA reportedly supports the output increase as gasoline prices surge to three year highs. In statements on climate change and clean energy, the G7 statement hints at division by citing "Canada, France, Germany, Italy, Japan, the United Kingdom and the European Union" as united on low-carbon initiatives, while the United States w... [Full Article...]

Ethereum NOT a Security According to SEC

Ethereum NOT a Security According to SEC That being said , Hinman cautioned that "the analysis of whether something is a security is not static and does not strictly inherent to the instrument". Previously, bitcoin and ether may have been offered as securities (like shares of a company), which would have required registration with the SEC, but a consensus has emerged that they behave and are treated like commodities, similar to gold a... [Full Article...]

Sanford loses primary to challenger Arrington in 1st congressional district race

Sanford loses primary to challenger Arrington in 1st congressional district race But Arrington, who works for a defense contractor, has exploited that trait, pointing out Sanford's call for Trump to release his tax returns, his vote against Trump's border wall proposal, and his calling proposed tariffs on alumni and steel " an experiment with stupidity ". [Full Article...]

To build high-speed commuter system in Chicago

To build high-speed commuter system in Chicago It has agreed to foot the bill for the entire Chicago project. Maryland's Department of Transportation gave conditional approval to the construction of a tunnel from Baltimore to Washington for a super-high-speed transportation system, The Washington Post reported in October. [Full Article...]

Microsoft working on till-free shop tech to rival Amazon Go

Microsoft working on till-free shop tech to rival Amazon Go The automated checkout market could be worth $50bn (£37.5bn) in the United States alone, venture capital firm Loup Ventures estimated. When customers are finished shopping, they simply leave the store and Amazon bills their credit cards on file. [Full Article...]

Average worker can't afford 2-bedroom apartment anywhere in US, report says

Average worker can't afford 2-bedroom apartment anywhere in US, report says In the East Bay, it's $45 an hour, or $93,000 a year, according to the " Out of Reach " study released Wednesday by the National Low Income Housing Coalition . A one-bedroom is affordable only with a minimum wage job in a small number of counties in Arizona , California, Colorado, Oregon, and Washington, all states that have set the minimum wage above the federal level. [Full Article...]

Federal Reserve raises U.S. interest rates again

Federal Reserve raises U.S. interest rates again Fed officials also said they expect to raise rates twice more this year , faster than previously forecast . At the end of March, the average interest rate charge on cards, according to the Fed, was 15.32%, an 18-year high. A gradual rise in inflation is coinciding with newfound economic strength. Even amid concerns about United States trade policy, the Fed raised its forecast for gross-dome... [Full Article...]

Bitcoin's soaring value down to manipulation, scientists claim

Bitcoin's soaring value down to manipulation, scientists claim The CFTC and Securities and Exchange Commision have been ramping up their enforcement efforts against fraudulent cryptocurrency activity and scams as Bitcoin and other digital tokens gained prominence over the a year ago. The paper does not prove definitively that Bitfinex was tangled in price manipulation, but the evidence gives a strong indicator that it was involved. [Full Article...]

Fed raises interest rates, says two more hikes likely in 2018

Fed raises interest rates, says two more hikes likely in 2018 Two additional rate hikes are predicted this year , for a total of four. Fed officials expect to raise interest rates at least once more in 2018 and had been split on a possible fourth hike in their last meeting. Fed policymakers projected gross domestic product would grow 2.8 percent this year , slightly higher than previously forecast , and dip to 2.4 percent next year , while inflation ... [Full Article...]

Italy threatens to CANCEL Macron meeting as tensions SOAR in immigration clash

Salvini, who is also deputy premier and the leader of the anti-immigrant League party, called on France to apologise and said he was not prepared to take criticism from a country which regularly stopped migrants on their shared border. Salvini insisted Tuesday that the country's ports would no longer be open to foreign boats carrying migrants. "I fear a major tragedy if states start refusing to ... [Full Article...]

Donald Trump reignites Opec spat over 'too high' oil prices

But the US request and a Trump tweet in April that blamed OPEC for high oil prices has caused a split within the oil group, with some members accusing Saudi Arabia of being too eager to do Trump's bidding. Opec producers and non-Opec countries struck a deal in 2016 to trim production by 1.8 million barrels per day to reduce a global glut of oil. "To make up for the losses, we estimate that M... [Full Article...]


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