Money

by | July 01, 2018 | 08:30

One Russian energy source said Iran was also keen to keep Moscow on side because it hopes Russia will be able to help it sell crude as the US sanctions bite. The biggest importer of Iranian oil past year was China . Italy's Saras refinery is considering no longer buying Iranian oil because its banks don't want to finance such trades even before the November 4 deadline, according to company officials.

by | June 30, 2018 | 23:15

Riyadh and other OPEC members are under pressure from the United States to pump more oil . This hard line approach had a distinct effect on traders, who caused West Texas Intermediate to surge by 3.6 percent, or $2.45 per barrel, to $70.53; Brent climbed $1.60 to $76.33 per barrel.

by | June 30, 2018 | 22:44

Saudi Arabia, meanwhile, is planning to pump as much as 11 million barrels per day (bpd) of oil this month, about 1 million more than it is producing now, an industry source told Reuters this week. Meanwhile, Iran's Supreme Leader Ayatollah Ali Khamenei on Saturday accused the U.S. of trying to turn Iranians against their government. "Kuwait will raise its oil production from tomorrow to 2.785 million barrels, a daily increase of 85,000 compared to May, based on last week's production ...

by | June 30, 2018 | 19:45

The Delivery Service Partners program gives Amazon more control over the last step of the delivery process. It has a fleet of cargo planes it calls "Prime Air" and is getting ready to test a new service that has company couriers picking up products from businesses that sell goods through Amazon and delivering them to Amazon warehouses - a chore now done by UPS and other services.

by | June 30, 2018 | 16:01

Freeland said on June 19 that the Liberal government of Prime Minister Justin Trudeau was working on ways to directly support the steel and aluminum industries and their workers. In a blow to Trump earlier this week, iconic American motorcycle company Harley-Davidson announced it would move some production overseas to avoid European Union tariffs imposed in response to United States steel and aluminum duties.

by | June 30, 2018 | 09:31

In March, Toys R Us announced it was shuttering its remaining stores for good after 70 years. According to recent reports, former Toys R Us CEO Jerry Storch has been meeting with potential investors to find a way to reboot the toy company .

by | June 29, 2018 | 23:48

Meanwhile, the Food and Drink Federation also said it would affect much of the "farm-to-fork supply chain". A Heineken spokeswoman said: "We'd like to reassure beer drinkers that all our breweries are operating at full capacity, and we're working 24/7 to get beers to our customers as quickly as possible".

by | June 29, 2018 | 23:39

The Swiss National Bank's annual report had said on Thursday that Indian money in Swiss banks rose from CHF 676 million (around Rs 4,670 crore) in 2016 to CHF 1.01 billion (Rs 6,974 crore) in 2017. He was responding to a query about the data showing a rise in Indian deposits previous year in Switzerland. Gandhi said that the Modi government had carried out demonetisation to supposedly curb black money but its stance now was totally different.

by | June 29, 2018 | 13:46

His comments were echoed by BMW's United Kingdom boss Dr Ian Robertson, who expressed frustration that dealing with Brexit is taking the UK's eye off the ball at a critical time for the sector, when profound changes in materials, powertrain technology and even ownership present significant opportunities for growth.

by | June 28, 2018 | 05:53

Ed Royce, R-Calif., the chairman of the House Foreign Affairs Committee. "We have an economy that is here because of the president's tax plan and the president's regulatory relief and we always said trade is part of this". Trump has used the tool more frequently than past administrations. A senior administration official said the president has chose to use the modernised Committee on Foreign Investment in the United States (CFIUS) as the best approach to protect critical technologies.

by | June 28, 2018 | 01:18

The Turkish president's abhorrence of high-interest rates and efforts to apply pressure to the central bank to keep the interest rates low has at times led to market trepidations and currency decline. A very high turnout (87 percent) tipped the balance in favor of AKP loyalists, and Erdogan secured a clear first-round victory with 52.38 percent of the vote according to unofficial tallies.

by | June 28, 2018 | 01:10

It was unclear what taxes Trump was referring to, and why the company might have to pay them, since it will maintain production in the United States for USA customers. The company has said ramping up production overseas could take at least nine to 18 months. Sales of Harley-Davidson have slowed down considerably in the U.S.

by | June 27, 2018 | 23:18

It turns out that Harley's decision to open a plant in Thailand came in response to a different challenge created by Trump: his decision to withdraw the United States from the Trans-Pacific Partnership past year. But the company insisted at the time that it was not planning to relocate the jobs overseas to a planned Thailand plant it had previously announced in May of 2017.

by | June 27, 2018 | 21:38

U.S. Secretary of Defense James Mattis will embark on a trip to China, South Korea and Japan on Tuesday. In an extreme scenario, greater restrictions on exports and investment between them could cause divergent tech sectors to emerge. "A statement will be out not specific to China but to all countries that are trying to steal our technology ", Mnuchin said on Twitter, noting he was responding for Trump.

by | June 27, 2018 | 19:05

Iran's semi-official news agencies, Fars, ISNA and Tasnim, described the protests at the Grand Bazaar as having erupted after the Iranian rial dropped to 90,000 to the USA dollar on the country's black market, despite government attempts to control the currency rate.

by | June 27, 2018 | 18:34

Additionally, representatives from several member countries cited an aggregate Opec /non-Opec increase of 1 mb/d (million barrels per day), which would likely mean a 300 kb/d increase from Russian Federation, though final details for non-Opec production are scheduled to be released on Saturday.

by | June 27, 2018 | 13:46

The Indian government is reportedly moving closer to a scheme to make some oil payments to Iran in rupees in a bid meant to avoid U.S. economic sanctions. Iran is one of the world's largest oil producers, with exports worth billions of dollars each year. In 2010, the Reserve Bank of India ceased using a Tehran-based regional body, the Asian Clearing Union, to handle transactions with Iran.

by | June 27, 2018 | 13:32

He also said he had "chided" Harley-Davidson about tariffs in India and many companies were returning to the United States. Harley-Davidson had announced that it would be closing a plant in Kansas City, and laying off around 800 workers there.

by | June 27, 2018 | 12:17

Tariffs on $34 billion (€29 billion) worth of Chinese goods are due to take effect on July 6 over United States complaints that Beijing is misappropriating United States technology through joint venture rules and other policies. The EU has long blamed China for the global over-capacity of steel, and has imposed steep tariffs on Chinese steel to protect Europe's domestic metals industry.

by | June 27, 2018 | 00:51

Trump said he has fought hard for the company and was surprised by its plans, which he described as waving the "White Flag". In another tweet Tuesday morning, Mr. Trump recently imposed steep tariffs on aluminum and steel imported from Canada, Mexico and Europe in his bid to level the trade playing field and reduce trade deficits between the USA and its trade partners.

by | June 26, 2018 | 20:42

Recep Tayyip Erdoğan, the long-running leader of Turkey who has ruled in increasingly authoritarian fashion over the last several years, declared victory in presidential elections held on Sunday. But for the first time, he faced a formidable challenger in Ince, whose charisma and sharp criticism of the president gave him wide appeal. Serbian President Aleksandar Vucic congratulated Erdogan, saying that Belgrade "will continue to be a reliable partner of Turkey and of its role as a leader ...

by | June 26, 2018 | 16:00

Derek Scissors, a China scholar at the American Enterprise Institute who consults regularly with the administration, said that he believes Mnuchin would prefer to apply the text of a bill working its way through Congress to strengthen national security reviews of USA acquisitions to investments by China.

by | June 26, 2018 | 11:58

Passing that on to dealers or customers would cause an "immediate and lasting detrimental impact" on the company's business in its second-largest market, so it'll bear the brunt of the expense. The company employed about 2,100 people at manufacturing plants in the USA at the end of past year. The EU's tariffs are only the latest blowback Harley has faced from Trump's trade policies.

by | June 26, 2018 | 09:40

However, his confusing interview to CNBC did little to clarify the situation, as he said the administration was "not singling out China" but also that Treasury would release a report on Friday on the issue of investment restrictions on China.

by | June 25, 2018 | 21:39

Turkish President Recep Tayyip Erdogan won a new mandate in presidential elections in the first round of voting by winning more than half of the votes, the chief of Turkey's election authority said on Monday (June 25). The pro-Kurdish Peoples' Democratic Party has 11.2 percent, passing the 10 percent threshold to enter into the assembly. Erdogan also claimed the AKP had won a majority in the 600-seat chamber in a separate parliamentary vote.

by | June 25, 2018 | 20:13

That will make each bike about $2,200 more expensive to export, Harley said. Harley is not raising prices for customers. Harley-Davidson is an American company originally founded in Milwaukee, Wisconsin, by two friends working out of a backyard.

by | June 25, 2018 | 19:39

A smaller counter-march by Brexit supporters was also held in London. Marking the second anniversary of the Brexit vote, an estimated 50,000 protesters, including politicians and lawmakers, joined the People's Vote march to the Parliament Square in London on Saturday, in the hope of stopping Brexit.

by | June 25, 2018 | 19:32

The EU's tariffs retaliating against Trump's steel and aluminum levies will cost Harley about US$2,200 per bike shipped to Europe, according to a Monday filing. To avoid harming dealers and undermining its business, Harley said it will swallow the cost. That's expected to add up to a burden of $90 million to $100 million annually, which Harley-Davidson will absorb rather than pass extra costs on to customers.

by | June 25, 2018 | 17:14

To avoid passing on costs to its customers in Europe the company said it would relocate production of bikes bound for the European Union to "international facilities to avoid". "On a full-year basis, the company estimates the aggregate annual impact [due to the tariffs] to be approximately $90 [million] to $100 million". The company did not say where production would be shifted, or how many jobs might be affected, but said the move would take nine to 18 months to complete.

by | June 25, 2018 | 02:32

Today marks two years since a June 23, 2016 referendum resulted in a decision to quit the 28-nation EU. People packed the streets in what was the biggest anti-Brexit march yet proving the growing anger over the government's handling of the UK's exit from the EU.

by | June 25, 2018 | 01:58

Germany faces a "German Brexit" if Chancellor Angela Merkel buckles to demand from her interior minister who is calling for tougher new curbs on immigration. Meanwhile, Spanish Prime Minister Pedro Sanchez urged his European Union partners to help Spain deal with a growing number of arrivals across the Mediterranean Sea.

by | June 25, 2018 | 01:35

Mr Mattingly said there was a 3.5m (12ft)-deep basement under the warehouse, and the emergency services hoped most of the whiskey went into it. The collapse was reported at Barton 1792 Brands distillery at 10:55 a.m. Initial water samples showed no signs of contamination, said Joe Prewitt, the local emergency management director. The collapse won't affect normal operations at the distillery.

by | June 24, 2018 | 21:21

It's first time Haldane has dissented since joining the panel in 2014. The pound jumped by about a cent against the dollar following the Bank's decision, climbing back above the $1.32 level, as the possibility of an August rate rise appeared to increase.

by | June 24, 2018 | 21:12

The creditors also agreed to a final disbursement of €15 billion, aimed to help Greece repay arrears, finance maturing debt and build up a cash buffer of €24.1 billion that will help it access financial markets . Under German demands, Greece's debt relief in the short-term will be conditional on the continued implementation of agreed reforms, which if successful could inject about one billion euros to the government's underfunded budget every year.

by | June 24, 2018 | 20:02

Twice the price for a quarter of the theater network and 60 per cent fewer movies. That convenience factor alone can make the cost of AMC Stubs A-List worth it. Users can access three movie showings per week for $19.95 (£15.06) each month. Five months later, MoviePass stopped working at certain AMC theaters, including Empire 25 in NYC, the Universal City Walk, AMC Loews Boston Common and the AMC Century Plaza.