Finance

Amazon to acquire PillPack online pharmacy

Amazon to acquire PillPack online pharmacy With its far-reaching and widely popular online site, Amazon moves closer to establishing beachheads in medicine chests across the US and using that muscle to alter the traditional playbook for prescription drug distribution. And Amazon CEO Jeff Bezos, the world's richest man, is creating a health care company along with JPMorgan Chase and Warren Buffett's Berkshire Hathaway . [Full Article...]

Saudi Pledges 'Measurable' Oil Supply Boost As OPEC, Russia Agree Deal

Saudi Pledges 'Measurable' Oil Supply Boost As OPEC, Russia Agree Deal Iran said it didn't believe buyers of its oil would get waivers from the US government after Trump's renewal of sanctions. Energy Minister Parviz Shahbazov said that current situation of oil market was discussed at the meeting. Barkindo told the News Agency of Nigeria (NAN) yesterday that OPEC and non-OPEC ministers agreed to increase oil supplies, which had remained unchanged for 18 m... [Full Article...]

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

Trump warns Harley-Davidson: 'We won't forget' He said the company has been working with Twitter to see if the tweets could be removed and to figure out where they originated. Trump then threatened the company "will be taxed like never before" if they follow through with the move . But Harley-Davidson's plight in Europe drew fresh interest from French Parliament member Eric Straumann, who contacted Levatich to propose a new factory on the Fre... [Full Article...]

US Issues a Warning to Allies Not to Import Oil from Iran

US Issues a Warning to Allies Not to Import Oil from Iran New questions about VA pick Advocates urge Trump to extend protected status for Yemenis amid civil war Pompeo not concerned about fallout from trade policies, family separations MORE on Wednesday commented on demonstrations in Iran , saying protesters are fed up with the country's leadership. [Full Article...]

China, EU to form group to modernize global trade rules

China, EU to form group to modernize global trade rules A government official told Reuters on Sunday night that the Treasury was drafting curbs that would block firms with at least 25 per cent Chinese ownership from buying United States companies with "industrially significant technology". His successor, Larry Kudlow, is a self-proclaimed "free-trader", and is recovering from a heart attack. The trip, which comes after the U.S. "Both sides agreed... [Full Article...]

Trump's Tariffs Are Forcing Harley-Davidson To Move Jobs Overseas

Trump's Tariffs Are Forcing Harley-Davidson To Move Jobs Overseas The famed motorcycle maker said in a regulatory filing Monday that European Union tariffs on its motorcycles exported from the USA jumped from 6 percent to 31 percent. Bikes destined for the European Union were made less viable by levies that'll boost costs for the company by about US$100 million (NZ$145 million) a year. [Full Article...]

Turkey elections: was Recep Tayyip Erdogan’s victory fair?

Turkey elections: was Recep Tayyip Erdogan’s victory fair? Erdogan's main rival, Muharrem Ince of the Republican People's Party (CHP), conceded defeat but branded the elections unjust and said the presidential system that now takes effect was "very dangerous" because it would lead to one-man rule. [Full Article...]

Marijuana to be legal in Canada Oct. 17: Trudeau

Marijuana to be legal in Canada Oct. 17: Trudeau It sets out parameters around the production, possession, safety standards, distribution, and sale of the drug. In Newfoundland and Labrador, it will be available in Loblaws grocery stores. That vote could come as early as Tuesday, The Globe and Mail reported . There's no question that there are serious flaws with this new law. There are still questions surrounding how police will test motori... [Full Article...]

Oil prices rise ahead of OPEC’s June 22 meeting

Oil prices rise ahead of OPEC’s June 22 meeting The talks, which continued without Zanganeh, sought to lay the groundwork for Friday's gathering of the 14-nation Organization of Petroleum Exporting Countries (OPEC), when the cartel will discuss easing a supply-cut deal with 10 partner countries that has pushed crude prices to multi-year highs. [Full Article...]

OPEC reaches deal to raise oil output

OPEC reaches deal to raise oil output On Friday, OPEC members agreed to start pumping more oil, though the agreement will not end the group's 18-month-old deal to limit output. This was a reversal of years of rising production and falling prices, which many saw as an attempt by Saudi Arabia and others to create an oil glut to discourage investment in USA shale oil production. [Full Article...]

EU to respond to any US auto tariff move

EU to respond to any US auto tariff move Bill Reinsch, senior adviser at the Center for Strategic and International Studies in Washington and former Commerce official, said the president's tweet may undermine his government's argument for auto tariffs. The list also hits clothing along with bed linen and men's leather footwear, eye make-up and lipsticks, plus a host of steel products. Trump's tariffs, he said, contradict "all logic a... [Full Article...]

Supreme Court ruling could have huge impact on Texas economy

Supreme Court ruling could have huge impact on Texas economy States were eager to collect the estimated $13.4 billion in annual revenue they could potentially glean from charging online sales taxes. Not having to pay state sales tax also gave many internet retailers an edge on their brick-and-mortar counterparts, as sales tax contributes to the overall purchase price of a good. [Full Article...]

European Union slaps retaliatory tariffs on United States as trade war rattles markets

European Union slaps retaliatory tariffs on United States as trade war rattles markets Cecilia Malmstrom, the EU's trade commissioner, acknowledged that the European Union had targeted some iconic American imports for tariffs, like Harley-Davidson motorcycles and bourbon, to "make noise" and put pressure on US leaders. "It's going to hit customers, that's for sure". John Ferguson, director of global forecasting at the Economist Intelligence Unit agreed, as he sounded a warning abo... [Full Article...]

Iran Walks Out As Russia, Saudis Gain Support For Oil Output Increase

Iran Walks Out As Russia, Saudis Gain Support For Oil Output Increase Saudi oil minister Khalid Al-Falih told reporters this morning there would not be an immediate flood of oil into the market, suggesting the impact would not be seen until the end of the summer, the Guardian reports. The US-Chinese trade rift threatens to limit US crude oil exports to China that have been gaining pace in recent months and eating into OPEC's share in the market, a market that is s... [Full Article...]

European Union says it will start to impose tariffs on U.S. on Friday

European Union says it will start to impose tariffs on U.S. on Friday Late last month, Trump proceeded to infuriate US allies - from the European Union to Canada and Mexico by imposing tariffs of 25 percent on imported steel and 10 percent on aluminum. Malmström added that if the US removes its tariffs, the European taxes would also be lifted. The total amount of USA goods exported to China amounted to only US$130 billion (S$177 billion) previous year, mea... [Full Article...]

Oil slides; Google bets on China; Internet tax decision

Oil slides; Google bets on China; Internet tax decision To sum it up, markets will be waiting for meeting between OPEC and non-OPEC producers which are touted as key to outlook for crude oil prices and will meet in June to assess market conditions and discuss a tapering of production curtailments in order to maintain market balance now that global oil inventories have declined to the five-year average. [Full Article...]

OPEC ministers agree in principle on production increase

OPEC ministers agree in principle on production increase The convoluted plan shows the difficulty Saudi Arabia has in bridging the gap between Russian Federation, which has pushed for a larger increase, and Iran . He warned his fellow oil producers about rising consumer anxiety and the potential for high prices to have a negative impact on demand. While Saudi Arabia's cutting by more than required has helped Opec's compliance, involuntary reductions ... [Full Article...]

Trump trade adviser says tariffs are 'necessary to defend this country'

Trump trade adviser says tariffs are 'necessary to defend this country' US crude fell 1.15 percent to $65.09 per barrel and Brent was last at $75.10, down 0.32 percent. Aerospace company Boeing dropped 3.5 percent to $342.37 and construction and mining equipment maker Caterpillar shed 3.4 percent to $143.58. [Full Article...]

Hackers steal $43m from cryptocurrency exchange - Security

Hackers steal $43m from cryptocurrency exchange - Security This incident is the second of such attacks on a crypto exchange platform in South Korea, in as many weeks. An earlier post on Bithumb's Twitter account reveals that it had announced that a database upgrade was being carried out as part of a security update late last week . [Full Article...]

Tesla is investigating 'extensive' sabotage by a rogue employee, Elon Musk says

Tesla is investigating 'extensive' sabotage by a rogue employee, Elon Musk says In a shocking news, Tesla CEO, Elon Musk shared an email with all Tesla employees on Sunday claiming that there was a saboteur working among them who has been discovered. Musk added that production on the Tesla Model 3 electric vehicle will now be ramped up to 5,000 a week. In another email nine hours later, Musk said there had been "another odd incident that was hard to explain" - a sma... [Full Article...]


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