Finance

European Union levies tariffs on $3.2B on United States goods over metals duties

After months of talks, the Trump administration ended in June a temporary two-month exemption for the European Union as well as Mexico and Canada, all of which ...


Starbucks to close 150 stores amid slowing sales

Coffee retail giant Starbucks announced Tuesday its plan to close approximately 150 stores across the United States as a result of "slow growth", sending the ...


The burgeoning US-China trade war has entered a new phase

China denies such theft and accuses Washington of "deviating from the consensus reached by both parties". As the trade dispute between Washington and Bei...


Microsoft slammed for ICE contract, amid child separations

Over the weekend, a blog post from January resurfaced, in which Microsoft said it is "proud to support" ICE and that Microsoft's technology can help the agenc...


Telstra announces it will axe 8000 employees and contractors in company restructure

Federal Labor frontbencher Richard Marles has described as a "huge shock" Telstra's decision to slash 8,000 jobs. Establishing a standalone infrastructure bus...


Chief Economic Adviser to leave finance ministry, return to US

Chief Economic Advisor Arvind Subramanian on Wednesday has resigned due to personal reasons. The CEA is usually the key go-to person for advice for the finan...


South Korean Cryptocurrency Exchange Bithumb Gets Hacked; Loses RM140 Million

The exchange lost over $40 million in user funds and due to the small size of its operations, the company had to endure a restructuring to compensate users. Cyb...


Trump's latest swipe at Canada? Smuggling US shoes

Asian stocks also wilted to a four-month low and Australia's dollar, South Africa's rand and the euro were among a diverse group of currencies caught in the cro...


Canadian smuggling claims by Trump exaggerated

Trump claimed that because of Canada's high tariffs, Canadians were coming into the USA and "smuggling things back" to avoid the duties. Separately, Foreign...


Dunkin' Donuts sign asks customers to report employees who don't speak English

A man who answered the phone number on the sign told a WBAL staffer he was the former general manager at that location. The photo showed a small red sign sitt...


McDonald’s eliminates plastic straws in Britain, bowing to environmental pressure

McDonald's has announced that it will complete its transition to paper straws in Ireland and the U.K.by 2019. "We hope this work will support industrywide ch...


Trade war worries slam China and emerging markets

The US "practice of extreme pressure and blackmail departed from the consensus reached by both sides during multiple negotiations and has also greatly disappoin...


Elon Musk says disgruntled Tesla employee was behind "extensive" sabotage

In the email obtained by CNBC , Musk said he was " dismayed to learn " that an employee had been making changes to the Tesla codebase under false usernames in...


Asian markets tumble as Trump tariffs spark trade war fears

President Donald Trump threatened late Monday in the United States to impose tariffs on an additional $200 billion worth of Chinese goods if Beijing goes th...


ICICI benches Chanda, at last

ICICI Bank's board, which had initially backed Kochhar calling the alleged nepotism charges against her "malicious and unfounded", last month said it would in...


Trump threatens new round of $200bn tariffs on Chinese goods

But Beijing faces challenges in retaliating directly: China ships far more goods to the United States ($505 billion previous year, according to USA figures) t...


‘Destiny Day’ for Merkel as Allies Set to Issue Migration Ultimatum

German Chancellor Angela Merkel has rejected German Interior Minister Horst Seehofer's ultimatum on migrants but has two weeks to find a solution for inf...


Trump escalates China trade war with extra tariffs

Gulf oil producers may benefit from China's threat to impose import tariffs on USA crude and other energy products, as key exporters meet to discuss production ...


Chinas tariffs on U.S. oil would disrupt $1 billion monthly business

When Trump threatened another $100 billion in tariffs if China retaliated with matching tariffs, Chinese President Xi Jinping appeared to relent with considerat...


Google To Invest $550 Million In Chinese E-Commerce Site JD.com

Meanwhile, Google needs to win back product searches from American e-commerce giant Amazon if it hopes to stay relevant in the space. On June 18, Google ann...


Audi CEO Rupert Stadler arrested in Volkwagen emissions investigation

In spite of continuous denials and public backing from the Volkswagen Group, Stadler has seemed like a man waving a crude torch in the dark, trying to fend off ...


Audi boss arrested over dieselgate crisis

Stadler's detention follows a search last week of his private residence, ordered by Munich prosecutors investigating the manager on suspicion of fraud and i...


Audi CEO Rupert Stadler arrested in Germany over diesel scandal

Stadler is the most senior Volkswagen to be arrested over the so-called Dieselgate that came to light in 2015. A spokesperson for Audi confirmed the arr...


McDonald's to Dump Plastic Straws in United Kingdom, Ireland

Paul Pomroy, chief executive of McDonald's United Kingdom and Ireland, said: "Reflecting the broader public debate , our customers told us they wanted to see a...


Didi Chuxing tightens car-pooling rules after murder threatens to dent image

The Chinese company said it had started recruiting drivers in Melbourne in early June "to warm responses". But between 5 a.m. and 6 a.m. and between 10 p.m....


European Central Bank to end quantitative easing by end of 2018

The Dow Jones Industrial Average fell 25.89 points, or 0.1%, to 25,175.31. The ECB shifts its policy meeting from Frankfurt to a euro zone capital once a ...


China trade fight leads stocks lower, oil sinks on supply fears

In May, Chinese officials had promised to buy more American farm goods, natural gas and other products to narrow China's large trade surplus with the Unit...


Rolls Royce to cut 4600 jobs

About a third of those targeted were expected to leave by the end of 2018 with the program gaining momentum through 2019 and finishing mid-2020. Rolls-Royce i...


UK's N Brown looks to close all 20 stores and move online

Angela Spindler, chief executive of N Brown, said: "We are focused on becoming a global online retailer". The announcement comes as online revenue rose 3%. Gr...


Ethereum NOT a Security According to SEC

While Ripple has said in the past that XRP tokens aren't securities , some believe that the company's centralized nature and control over the coins could p...


UK Court rules in landmark gig economy case

Smith signed an agreement to provide plumbing work on behalf of Pimlico in August 2005. Pimlico attempted to argue before the Supreme Court that this limite...


Australian employment rose by less-than-expected in May

The full-time job fall was offset by a 32,600 increase in part-time employment. Over the year to May, the unemployment rate declined 0.2 per cent, while the ...


Oil eases on China refining dip, higher USA crude output

In terms of supply, the IEA revised upwards its estimate for 2018 non-OPEC production growth to 2 mb/d and said 2019 would also see what it called "bumper gro...


Wetherspoons to stop selling French champagne in the run-up to Brexit

Wetherspoon said its new wheat beers brewed in the United Kingdom will include Blue Moon Belgian White, Thornbridge Versa Weisse Beer and SA Brains Atlantic Whi...


Volkswagen fined £880m by German prosecutors over diesel emissions scandal

More than 10 million diesel vehicles were sold internationally with illegal emissions-controlling software. The administrative order and subsequent fine will...


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