by | June 22, 2018 | 17:08

Brent oil prices were up 1.9 per cent on Friday as the output boost had been largely priced in and was seen as modest. But Iran has called on the group to resist pressure from U.S. The convoluted plan shows the difficulty Saudi Arabia has in bridging the gap between the competing interests of different members. Saudi Arabia's Oil Minister Khalid al-Falih talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, June 22, 2018.

by | June 22, 2018 | 13:57

European Union trade official Cecilia Malmström said that the European Union "did not want to be in this position", but that it had no choice. The European Union has announced a new range of retaliatory tariffs against the United States, in response to the us revoking the EU's exemption from steel and aluminum tariffs.

by | June 22, 2018 | 11:39

Mexico put tariffs on American products ranging from steel to pork and bourbon two weeks ago. Brussels imposed the raft of duties on U.S. products worth 2.8 billion euros (USD 3.3 billion) in a tit-for-tat response to Trump's decision to slap stiff tariffs on European steel and aluminium exports.

by | June 22, 2018 | 11:22

Sources told Reuters on Thursday that Iran wants any increase to be justified on demand conditions and not dictated by outside external pressure, as even some of Saudi Arabia's traditional allies have accused the kingdom of bending too far to appease us wishes.

by | June 21, 2018 | 20:43

Companies would pay more for imported parts and would have to decide whether to absorb those higher costs - or pass them on to their customers. His words were echoed by Richard Liu, founder and CEO of, who told CNBC that a Chinese preference for imported goods would ultimately mean American brands would suffer most.

by | June 21, 2018 | 20:09

Merkel herself is facing a showdown with her own hardline interior minister after his call for turning back undocumented migrants at German borders and speeding up ejections of rejected asylum seekers. Despite appearances, ultimatum is still a half-victory for Merkel, who manages to gain time to reduce tension of a political crisis that could end up breaking Berlin government.

by | June 21, 2018 | 17:57

But Opec's crunch meeting in Vienna on Friday finds the oil cartel divided after almost two years of unity over production curbs, which were due to run until the year's end. OPEC and its allies have since past year been participating in a deal to cut output by 1.8 million bpd. He said Trump had contributed to the rise in prices by imposing sanctions on Opec members Iran and Venezuela, which will likely lead to lower exports.

by | June 21, 2018 | 17:12

Earlier this month the German government asked Audi to recall some 60,000 vehicles in Germany over non-conforming emission-control devices. Munich prosecutors said last week they had searched Stadler's home for evidence. The diesel scandal has so far cost the VW group more than 25 billion euros ($29 billion) in buybacks, fines and compensation, mainly in the United States where the cheating scam was first uncovered.

by | June 21, 2018 | 13:28

Ms Malmstrom said: "We did not want to be in this position". The retaliatory measure comes in response to U.S. tariff hikes on steel and aluminum that were imposed on European Union member countries on June 1, with the White House citing grounds of national security.

by | June 21, 2018 | 11:09

Hundreds of protesters descended on a block of San Francisco's Financial District on Tuesday to protest the Trump administration's policy of separating thousands of immigrant children from their parents at the border. U.S. Immigration and Customs Enforcement temporarily closed its Southwest Portland office on Wednesday, citing security concerns amid protests. "My story would not have been possible anywhere else", he said.

by | June 21, 2018 | 08:55

Those stolen cryptocurrencies will be covered from Bithumb, and all of [our] assets are being transferred to [a] cold wallet. Only a small portion of Bithumb's funds stored in its hot wallet has been stolen and the speedy response by the Bithumb team to move funds from its hot wallet to cold or offline wallet allowed the company to prevent a bigger theft.

by | June 20, 2018 | 18:36

Trump accused Canadians of crossing the border with the buy products and "smuggle" them back into their country because their tariffs are so high. The ministry's description of a combination of "quantitative and quality measures" under consideration indicates that the trade war will enter a new stage, experts said.

by | June 20, 2018 | 12:42

Chancellor Angela Merkel accepted a two-week deadline to win agreement on tougher migration policy, a concession to her Bavarian coalition partner that eases an immediate standoff without removing the threat of further government tension down the road.

by | June 19, 2018 | 23:32

USA stock markets are opening sharply lower Tuesday as tensions over trade between the US and China seem closer to a boil. The tariffs announced by the White House on Friday hit more than 1,100 Chinese products with a rate of 25 percent.

by | June 19, 2018 | 22:28

Among the subjects in a potentially wider conspiracy, Musk lists Wall Street short sellers (who have bet on Tesla's demise on the stock market), oil and gas companies and the "multitude of big gas/diesel vehicle company competitors". "Could just be a random event, but as Andy Grove said, 'Only the paranoid survive.'" Musk wrote. "Please be on the alert for anything that's not in the best interests of our company".

by | June 19, 2018 | 21:15

Security guards walk in front of containers at the Yangshan Deep Water Port in Shanghai, China on April 24, 2018. The ministry also responded to Trump's threat that a third set of tariffs, again totaling $200 billion wroth of Chinese imports to the USA, would move forward if China hits back at the first set.

by | June 19, 2018 | 19:31

German Interior Minister Horst Seehofer attends a press conference after the Christian Social Union (CSU) board meeting in Munich, Germany, June 18, 2018 . There is no love lost between Seehofer and the CSU - facing a tough regional election in October - and Merkel, who have fought repeatedly on migrant policy in the last three years.

by | June 19, 2018 | 08:47

The Trump tariffs, which the United States government says are punishment for intellectual property theft, will be enacted in two waves. Mr. Trump said that if China responds to this fresh round of tariffs, then he will move to counter "by pursuing additional tariffs on another $200 billion of goods".

by | June 19, 2018 | 00:37

Beginning July 6, China will slap an extra 25 percent tariff on 545 products from the United States including soybeans, electric cars, orange juice, whiskey, salmon and cigars, according to the Ministry of Finance. would eventually prevail in any trade war. That includes a tentative deal to increase Chinese purchases of U.S. energy and agricultural goods. The new lines will go through a separate review period before being before U.S.

by | June 18, 2018 | 23:23

Merkel wants two weeks to try to strike bilateral deals with partners, such as Italy and Greece, on migrants - possibly similar to one struck between the European Union and Turkey in 2016 - and to make progress at a June 28-29 European Union summit on an EU-wide policy.

by | June 18, 2018 | 19:13

He reportedly added that there is a "presumption of innocence" applied to Stadler's case. Stadler's arrest is the most high-profile yet in the diesel gate crisis, which started when the Volkswagen group admitted in 2015 to equipping some 11 million diesels worldwide with "defeat devices" created to dupe pollution tests.

by | June 18, 2018 | 14:31

The prosecutors' office recently widened its emissions cheating probe to include Stadler among the suspects accused of fraud and false advertising. Stadler was under investigation for malpractice in the emissions cheating scandal at Volkswagen .

by | June 17, 2018 | 17:02

The sector already was shaken up by the hard negotiations on the North American Free Trade Agreement (Nafta) with Canada and Mexico, two major importers of agricultural products. It's too early to tell which manufacturers will pass higher costs on to customers or seek cheaper suppliers outside China, should the tariffs take effect in three weeks' time.

by | June 17, 2018 | 15:43

The move comes after the Government proposed a ban on plastic straws and cotton buds in England in April. Last week, Ikea announced it aims to phase out all single-use plastic products from its stores and restaurants by 2020. The announcements come amid a global movement to eliminate the use of plastic straws, which are hard to recycle and often end up in the ocean. Big hospitality chains like Wetherspoons , All Bar One and Wagamama have already promised to get rid of the straws, in ...

by | June 17, 2018 | 08:33

Mindful of the Bank's two disastrous hikes in 2011 that exasperated the Eurozone's debt crisis, the Bank will seek to balance raising rates with aggravating the debt. As for continuing claims, they declined to 1.697 million from a revised count of 1.746 million (from 1.741 million). A separate report showed that fewer US workers filed for unemployment claims last week than expected, an encouraging sign for the labor market.

by | June 16, 2018 | 18:19

Russia, alongside Saudi Arabia , has the highest spare capacity to boost production. "It's confusing why the president would come out with a statement like this now", Smith said. Iraq, OPEC's second-largest producer, said the group should resist pressure to increase oil supplies because its curbs haven't yet achieved their objective, with crude prices still below the desired level.

by | June 16, 2018 | 07:41

Farmers in Minnesota fear that their success in global trade will impale them on the "tip of the spear" as China retaliates against 25 percent tariffs President Donald Trump announced Friday. The remaining products being targeted will be decided later. "China previously identified nearly $1 billion worth of American cotton exports to China as a target, which will hurt American farmers and USA textile manufacturers, and add costs to our supply chains".

by | June 16, 2018 | 07:40

According to police, the two deputies were possibly shot with their own guns. A Wyandotte County deputy has died and one remains in critical condition following a shooting this afternoon in Kansas City, Kan . Thursday in the middle of Barney Allis Plaza. The Fraternal Order of Police in Kansas City, Kansas, said in a statement: 'We are praying for our friends at the Wyandotte County Sheriff's Officer, their families, friends and our entire blue family.

by | June 16, 2018 | 04:00

American Airlines says it has fixed a technology problem that was grounding flights to and from Dallas, Chicago and Miami on. The issue affected American Airlines flights to and from the Northwest Arkansas Regional Airport in Highfill (XNA).

by | June 16, 2018 | 01:33

On Wednesday, March 14, 2018, the Securities and Exchange Commission filed charges against Holmes and her company for defrauding investors. "This indictment alleges a corporate conspiracy to defraud financial investors", said FBI Special Agent in Charge John F.

by | June 16, 2018 | 00:34

The administration also is targeting an additional 284 Chinese products, which it says benefit from China's aggressive industrial policies, worth $16 billion a year, but won't impose those tariffs until it collects public comment. China, the world's No. 2 economy behind the U.S., has pledged to retaliate on USA exports including soybeans and pork. That could bring a another wave of duties after 60 days or more , the report said.

by | June 15, 2018 | 18:18

No deaths have been reported in connection with Honey Smacks , but the FDA says it's "working with the company to quickly remove this cereal from the marketplace". Healthy individuals infected with Salmonella can experience fever, diarrhea, nausea, vomiting and abdominal pain. "The illness usually lasts 4 to 7 days, and most persons recover without treatment".

by | June 15, 2018 | 17:30

The Sum of Us petition calling for the change had warned that many plastic straws ended up polluting the ocean, harming seabirds and marine life. It hopes all plastic straws will have been replaced by next year. Campaigners, such Michaela Hollywood who has spinal muscular atrophy, have urged companies to ensure they are providing alternatives to plastic straws as opposed to an all-out ban, as some disabled people rely on straws in order to be able to drink.

by | June 15, 2018 | 14:50

The tariffs will target technology industries where China hopes to become a world leader, after an investigation uncovered rampant intellectual property theft by Chinese companies against United States firms. But Steve Bannon, Trump's former White House and campaign adviser, said the crackdown on China's trade practices was 'the central part of Trump's economic nationalist message'.

by | June 15, 2018 | 12:37

Metcalf, who does research in energy economics and served as deputy assistant secretary for environment and energy at the U.S. Department of the Treasury in 2011-2012, recently spoke with Tufts Now about the oil economy. Non-OPEC suppliers include the United States where producers have returned to the business in droves, encouraged by rising prices. In the USA, output has risen by nearly a third in the past two years, to a record of 10.8-million barrels a day.