Finance

Mexico, U.S. 'close' to resolving bilateral NAFTA issues

Mexico, U.S. 'close' to resolving bilateral NAFTA issues In rules of origin for autos "Mexico clearly had to look for flexibilities because Canada was relatively comfortable with the original [U.S.] proposal". The rules governing regional content in automobile manufacturing have been one of the biggest sticking points between the two sides. The United States and Mexico are closing in on a bilateral deal on autos that would lift the requirement for Nor... [Full Article...]

Trump warns no concessions to Turkey for pastor’s release

Trump warns no concessions to Turkey for pastor’s release Qatar's Emir this month approved a package of economic projects, including a $15 billion pledge of support, for Turkey, giving a boost to a lira that has lost some 37 percent of its value this year . Brunson is accused of terrorism charges and aiding the network of a US-based Islamic preacher blamed by Ankara for masterminding a coup attempt in July 2016 against President Tayyip Erdogan. [Full Article...]

Sears to close 46 more stores nationwide by November

Sears to close 46 more stores nationwide by November The Sears Auto Center will close by the end of the month and liquidation sales will begin as early as August 30. The retailers have struggled in recent years with several rounds of closures. Sears has always been a key tenant of the Florence Mall. That included a location at Citrus Park Town Center and a Kmart on East Busch Boulevard. [Full Article...]

United Kingdom pushes for export growth in new Brexit strategy

United Kingdom pushes for export growth in new Brexit strategy According to the new strategy, the government wants to raise exports as a percentage of the UK's gross domestic product (GDP) up from 30% that it is now to 35%. "This strategy is a first step - a foundation - for a new national drive to export", said Rona Fairhead, a junior trade minister. DIT says it will provide information, advice and practical assistance on exporting. [Full Article...]

Trump praises Paul Manafort for refusing to ‘break,’ unlike Michael Cohen

Trump praises Paul Manafort for refusing to ‘break,’ unlike Michael Cohen Cohen's personal lawyer Lanny Davis tweeted on Tuesday. He also suggested he was mainly concerned about whether the Trump campaign conspired with Russian Federation to influence the 2016 election, rather than whether the president tried to offer money to cover up affairs. [Full Article...]

Trump 'Not Thrilled' with Fed Chairman Powell Over Rate Hikes

Trump 'Not Thrilled' with Fed Chairman Powell Over Rate Hikes In July, the president bashed the rate hikes during an interview with CNBC but also praised Powell as a good person. Presidents have not commented on Federal Reserve policy in over twenty years after Bill Clinton chose to stay mum on the central bank's choices. [Full Article...]

Trade war: US, China slap new tariffs on each other

They have assumed a direct impact on China's economic growth in 2018 of 0.1-0.3 percentage points, and somewhat less for the US, but the impact will be bigger next year, along with collateral damage for other countries and companies tied into China's global supply chains. [Full Article...]

Dollar falls ahead of US-China trade talks, on Trump Fed criticism

Dollar falls ahead of US-China trade talks, on Trump Fed criticism Commerce Secretary Wilbur Ross said on CNBC on Wednesday at a Century Aluminum Co smelter in Kentucky that has benefited from Trump's aluminum tariffs. There is no sign that Trump is ready to back off the trade war. The resistance highlights what some see as Mnuchin's weakness within the administration on China after his chastening earlier this year when Trump reversed a carefully constructe... [Full Article...]

Oil gains on easing trade war concerns, sanctions on Iran

Oil gains on easing trade war concerns, sanctions on Iran In June, 19.8 million barrels, or 660,000 bpd, were loaded. While Iran's fleet of very large crude carriers, or VLCCs, and Suezmax tankers - the largest that can fit fully-laden through the Suez Canal - has always played an important role in delivering Iranian crude to customers, it is increasing as insurers and global shipping companies react to the impending renewal of sanctions. [Full Article...]

No-deal Brexit would hit holidaymakers as credit card fees increase

No-deal Brexit would hit holidaymakers as credit card fees increase Cabinet ministers agreed at their July away day to step up preparations for no deal, which a group of ardent leavers on the Conservative backbenches believe would be preferable to the white paper approach, with its "common rulebook". Raab played down talk of a "no deal" scenario, saying only that Britain had to be ready for "all eventualities". Mr Raab hit out at allegations that leaving the Eu... [Full Article...]

Google will reportedly replace borked Pixel 2 XL handsets

Google will reportedly replace borked Pixel 2 XL handsets Now, however, we're getting our first real glimpse of what appears to be the standard, non-XL Pixel 3 , courtesy of Twitter user Khoroshev and website Rozetked - and it looks pretty good so far. Perhaps that's where they got the phone in the pictures (not left behind in a taxi like the tweet claims). What the photos reveal, from front and back angles, is that new notch. [Full Article...]

Australian Prime Minister Malcolm Turnbull fights for survival after leadership challenge

Australian Prime Minister Malcolm Turnbull fights for survival after leadership challenge Three senior Cabinet ministers told Turnbull he has lost his government's support and must hold an internal ballot to elect a new leader quickly, in what is a major blow to the PM's chances of surviving his current political crisis. "When I have five Cabinet colleagues telling me that they supported Malcolm on Tuesday ... but they have changed their position, that is not something that I can ignor... [Full Article...]

Russian Federation in gold buying spree ahead of tougher USA sanctions

Russian Federation in gold buying spree ahead of tougher USA sanctions You have Syria. You have Ukraine. On July 12, Pakistan hosted an unprecedented meeting of heads of intelligence agencies from Russia, China and Iran to discuss counter terrorism cooperation, with particular focus on the buildup of Islamic State in turmoil-hit Afghanistan. [Full Article...]

South Africa inquiry into top-level state graft opens

South Africa inquiry into top-level state graft opens The inquiry, known as the Zondo Commission, does not have power to prosecute but the evidence it collects can be used in any future prosecution. "If this commission is to do its job properly, we need evidence", he said. Former South African finance minister Mcebisi Jonas had alleged that the Guptas attempted to bribe him for both personal and business interests in 2015. [Full Article...]

S&P hits record high, equals longest-ever bull run

S&P hits record high, equals longest-ever bull run The index's bull-market run is now 3,452 days old and, on Wednesday, will mark the longest such streak in history, at least for some market watchers. The S&P consumer discretionary index .SPLRCD climbed 1.0 percent as off-price retailer TJX Companies Inc TJX.N rose on strong results and Toll Brothers Inc's TOL.N encouraging quarterly report boosted shares of homebuilders. [Full Article...]

‘Crazy Rich Asians’ Sequel Moving Forward with Director and Writers Returning

‘Crazy Rich Asians’ Sequel Moving Forward with Director and Writers Returning The grandson of Singapore's first western-trained ophthalmologist, the 44-year-old Kwan was born in Singapore and lived in his family's home in Bukit Timah before moving to Houston, Texas in the United States with his parents and two older brothers. [Full Article...]

Can Trump bend the Fed to his will?

Can Trump bend the Fed to his will? Point Bridge Capital Founder Hal Lambert, IHT Wealth Management President Steve Dudash and Payne Capital Management President Ryan Payne on the report that President Trump isn't "thrilled" with Federal Reserve Chairman Jerome Powell for raising rates. [Full Article...]

Erdogan vows Turkey will not be cowed by US

Erdogan vows Turkey will not be cowed by US His remarks came in response to a recent currency sell-off that has spread to other emerging market currencies and global stocks. "Certain forces today threaten Turkey with economic pressure, the fall of the national currency, but no one can stop Turkey's development and prevent the achievement of its goals", Erdogan said. [Full Article...]

Trump's Former Aides Admitted, Convicted of Crimes

Trump's Former Aides Admitted, Convicted of Crimes Deputy U.S. Attorney Robert Khuzami spoke moments after President Donald Trump's former lawyer Michael Cohen pleaded guilty to eight counts of tax and bank fraud . "If those payments were a crime for Michael Cohen , then why wouldn't they be a crime for Donald Trump? ". They also alleged that Manafort lied to banks in order to take out more than $20 million in loans after his Ukrain... [Full Article...]

Fed's Kaplan sees three or four more rate hikes, then a pause

Fed's Kaplan sees three or four more rate hikes, then a pause The Fed is expected to raise rates twice more this year. There are a total of seven governors on the Fed Board, all of whom have a vote on setting interest rates, and Trump still has one remaining vacancy to fill should his current slate of nominees win approval from the Senate. [Full Article...]


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