Economy

Heated email exchange between Elon Musk and alleged factory saboteur surfaces

Heated email exchange between Elon Musk and alleged factory saboteur surfaces

In documents filed to a Nevada district court on Wednesday , Tesla painted Mr Tripp as a disgruntled former employee, a man who had wanted a promotion from his job as a "process technician", a role...

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Bound new Volvo S60 revealed

Bound new Volvo S60 revealed

Sadly for diesel fans, the new S60 will be the first modern Volvo not to be offered with a diesel engine , with other new Volvos set to follow suit as the Swedish brand slowly phases out its compress...

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OPEC agrees modest hike in oil supply after Iran softens stance

OPEC agrees modest hike in oil supply after Iran softens stance

Oil prices rose following the news, with Brent crude trading at $74.69 per barrel (+$1.65), while the US West Texas Intermediate gained nearly $2, trading at $67.53. "I agreed to have 100 percent of c...

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South Korean Cryptocurrency Exchange Bithumb Gets Hacked; Loses RM140 Million

South Korean Cryptocurrency Exchange Bithumb Gets Hacked; Loses RM140 Million

Bitcoin plunged from W7.5 million to W7.08 million after news of the heist broke, and Bithumb's phone lines were inundated with calls from anxious investors inquiring about their deposits. Bithumb's ...

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Vintage Ferrari could fetch $45M at auction

Vintage Ferrari could fetch $45M at auction

But elegance and scarcity aren't the only standouts on the 250 GTO's resume. Furthermore, with 300 race victories to the GTO's name it's ingrained in Ferrari folklore, serving to prop-up the sky-hig...

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Intel CEO resigns after company learns of past consensual relationship

Intel CEO resigns after company learns of past consensual relationship

Krzanich has been Intel's CEO for just over five years, and sources told Reuters that there will be no golden handshake. He became CEO in 2013. At the same time, the company said it expects t...

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Opec agrees modest hike in supply after Saudi Arabia-Iran compromise

After a meeting in Vienna , Emirati Energy Minister Suhail al-Mazrouei said the cartel chose to fully comply with its existing production ceiling. Analysts estimate that when the additional produ...

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Donald Trump escalates China trade war with extra tariffs

Donald Trump escalates China trade war with extra tariffs

China is vowing to "fight back firmly" if the United States makes good on President Donald Trump's latest tariff threats. Those tariffs were matched by China's threat to penalize on USA exports, a m...

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Argentina, Saudi Arabia: Countries Added to MSCI Emerging Market Index

Argentina, Saudi Arabia: Countries Added to MSCI Emerging Market Index

MSCI denied Argentina the promotion past year. Meanwhile, the MSCI Argentina Index has also been reclassified from Frontier Markets to EM status, following investors' confidence in the countr...

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Canada votes to legalise cannabis for recreational use

Canada votes to legalise cannabis for recreational use

Canada , however, is the first G7 country to legalize recreational use out of the world's top industrialized nations, including the US, Japan, Germany , the UK, France, and Italy . Justin Trudeau ...

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Prices Dip Slightly on Reports Iran May Agree to Small Production Hike

Prices Dip Slightly on Reports Iran May Agree to Small Production Hike

He echoed earlier comments from OPEC Secretary-General Mohammad Barkindo. Nigeria , Saudi Arabia and other members of the Organisation of Petroleum Exporting Countries, OPEC, have disagreed over o...

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Trade fears rattle Wall Street, Dow gives up 2018 gains

Trade fears rattle Wall Street, Dow gives up 2018 gains

Broad measures of American equities have held up better than their Chinese counterparts, but striation within the United States markets suggests that investors anticipate steep losses in some stalwart...

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Supreme Court rules on internet sales tax

Supreme Court rules on internet sales tax

The Supreme Court sided with South Dakota 5-4, overturning a previous ruling, Quill Corporation v. "This is a disastrous decision for New Hampshire's economy and does not take into account the ...

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Oil bumps up on USA inventories decline, WTI pokes back into $65

Oil bumps up on USA inventories decline, WTI pokes back into $65

The intensive negotiations between ministers in Vienna this week are the culmination of a process that has whipsawed oil markets for weeks. WTI briefly turned positive earlier in the session aft...

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European Union retaliatory tariffs to hit United States products on Friday

European Union retaliatory tariffs to hit United States products on Friday

A raft of retaliatory tariffs from the European Union against stiff metals duties imposed by US President Donald Trump will come into effect on Friday, a top EU official said. A separate 10 percen...

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European Union to impose duties on USA imports Friday after Trump tariffs

European Union to impose duties on USA imports Friday after Trump tariffs

The tariffs, which come as a direct reaction to U.S. President Donald Trump's decision to hit the European Union with tariffs on steel and aluminum, will apply from Friday, the Commission said in ...

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Rs 12 lakh worth of notes destroyed by rats

Rs 12 lakh worth of notes destroyed by rats

Subsequently, on June 11, the company had re-opened the ATM only to realise that the whole sum of Rs1.3 million had been shredded to pieces by mice. Bank officials claimed rodents nibbled notes wo...

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Microsoft employees revolt over firm's 'proud support' of US ICE

Microsoft employees revolt over firm's 'proud support' of US ICE

In its statement , Microsoft noted that it is not directly working with ICE or U.S. Customs and Border Protection on these immigration policies and is "not aware" of its software "being used for ...

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Elon Musk: Rogue Employee Carried Out 'Extensive Sabotage'

Elon Musk: Rogue Employee Carried Out 'Extensive Sabotage'

His solution? Build a giant tent instead, and assemble the cars in that. Tesla is continuing to investigate the full extent of the sabotage, and whether the employee was acting alone or had the he...

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Merkel responds to Trump claims: German crime stats 'speak for themselves'

Merkel responds to Trump claims: German crime stats 'speak for themselves'

But both parties agreed Monday to postpone a final decision. "A new chapter opened for the Europe Union and for Franco-German cooperation today", Mrs Merkel said. The leaders of Germany and Fr...

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Trump Threatens China With Fresh Tariffs On $200 Billion Of Imports

Trump Threatens China With Fresh Tariffs On $200 Billion Of Imports

But the rhetoric is intensifying, with Trump lashing out at Beijing over its threat to retaliate against the administration's latest proposed tariffs . However, business expert Derek Scissors of th...

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Audi CEO Arrested in Diesel Emissions Case

Audi CEO Arrested in Diesel Emissions Case

Last month, Germany's Motor Transport Authority ordered Audi to recall and fix 60,000 A6 and A7 diesel cars alleged to have the illegal software installed. Stadler's arrest will raise tensions on VW's...

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Video Shows Tesla Bursting Into Flames On Road 'Out Of The Blue'

Video Shows Tesla Bursting Into Flames On Road 'Out Of The Blue'

His wife and actor Mary McCormack posted a video online where flames can be seen bursting out of the bottom of the vehicle. The destroyed Model S was being driven by British TV director Michael M...

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Amazon brings Prime to Australia after geoblocking furore

Amazon brings Prime to Australia after geoblocking furore

Amazon began offering its paid subscription service in Australia on Tuesday, wooing premium users with a way around the geoblock on its offshore websites that has drawn criticism in the world's 12th-b...

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OMB's Kraninger picked to head US CFPB -White House

OMB's Kraninger picked to head US CFPB -White House

The CFPB was formed in the wake of the USA financial crisis of 2007-08, authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The post is now held by interim director Mick Mu...

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Trump Targets $200 Billion In Chinese Imports As Spat Grows

The US "practice of extreme pressure and blackmail departed from the consensus reached by both sides during multiple negotiations and has also greatly disappointed worldwide society", China's commerce...

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Kellogg's recalls Honey Smacks due to Salmonella outbreak

Kellogg's recalls Honey Smacks due to Salmonella outbreak

An identifier of the recalled cereal includes an expiration date of June 14, 2019, according to the CDC website . The Kellogg Company is voluntarily recalling one of its cereals which may be ta...

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USA places tech tariff on China, but smartphones are not affected

USA places tech tariff on China, but smartphones are not affected

The US trade representative's office said it issued a revised China tariff list covering 1,102 separate product categories. According to the World Trade Organization (WTO), the US imposes, on av...

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China Industrial Output Up 6.8%; Central Bank Holds Rates

China Industrial Output Up 6.8%; Central Bank Holds Rates

Retail sales in May expanded at the slowest pace since June 2003, according to Reuters calculations. According to data from the National Bureau of Statistics (NBS), China's steel output surged t...

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Italy won't ratify EU-Canada trade deal: agriculture minister

Italy won't ratify EU-Canada trade deal: agriculture minister

President Trump responded with a one-two punch of angry tweets that indicated it was hypocritical of PM Trudeau to posture on the trade tariff issue publicly while presenting a friendly face during t...

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McDonald's is ditching plastic straws in the United Kingdom and Ireland

McDonald's is ditching plastic straws in the United Kingdom and Ireland

The burger chain and other fast-food companies are facing increasing pressure from customers and environmental activists to stop using plastic straws because they can end up in the ocean and harm sea ...

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European Central Bank to end crisis-era stimulus programme in December

European Central Bank to end crisis-era stimulus programme in December

A separate report showed that fewer US workers filed for unemployment claims last week than expected, an encouraging sign for the labor market. Chinese investors ignored the eurozone relief as the S...

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Deputy killed, another wounded in shooting in Kansas City

Deputy killed, another wounded in shooting in Kansas City

His condition also was not released. She said she was not sure whether the suspect was shot by one of the deputies or someone else who responded to the incident. Bailiff said their own firearms coul...

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VW responsible as a whole for diesel scandal

VW responsible as a whole for diesel scandal

VW has admitted installing software in 11 million diesel vehicles, which caused pollution controls to operate properly only when an engine's computer determined that the auto was undergoing a test. Vo...

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Tesla cuts 9 percent of workforce in bid to post profit

Eulav Asset Mgmt invested in 0.29% or 23,000 shares. United Asset Strategies invested 0.08% of its portfolio in Tesla, Inc . Sumitomo Mitsui Trust Holdings Inc . will cut thousands of jobs in the co...

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