Finance

Elon Musk says Saudi fund supports Tesla buyout, talks continue

Elon Musk says Saudi fund supports Tesla buyout, talks continue

Musk's email to Tesla employees posted on Tesla's website on the day of the tweet explained the rationale for the going-private plan, but Musk has yet to prove that the "funding secured" part of his tweet was true. "This is why I referred to "funding secured" in the August 7th announcement". It is appropriate to complete those discussions before presenting a detailed proposal to an independent board committee. Read More

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Modest Drop in Saudi Crude Production Triggers Mass Fear of Supply Depletion

Modest Drop in Saudi Crude Production Triggers Mass Fear of Supply Depletion

French bank Societe Generale said there was now a "comfortable supply" in physical crude markets, but noted "Iran sanctions will take another 1 million bpd off the markets". Front-month US West Texas Intermediate crude futures were at $69.28 per barrel early on Wednesday, up 11 cents from their last settlement. Analysts expect Iran's oil exports to drop more noticeably beginning in September, and the rate of decline to accelerate as the United States looks to have Iran's current ... Read More

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Tesla board mulls de-listing plan

Tesla board mulls de-listing plan

However, it certainly looks like his messages on social media have had direct consequences on Elon Musk's personal fortune, and on his company's stock price: Tesla shares started Tuesday trading at about $340 and went as high as $387. I drove the regular, 271-hp, rear-wheel-drive Tesla Model 3 a few months ago and liked it. The whole thing isn't yet set in stone because it must be put to a shareholder vote. Read More

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Chinese state media slams Trump for 'extortion' in trade dispute

Chinese state media slams Trump for 'extortion' in trade dispute

State-controlled Chinese news outlets have frequently criticized the United States and the Trump administration even as the trade friction between the two countries escalated. U.S. threats have escalated since, with the president saying he is ready to impose tariffs on all $500bn of Chinese imports. Duties ranging from 5 percent to 25 percent will be levied on 5,207 kinds of American imports if the US delivers its proposed taxes on another $200 billion of Chinese goods, the Ministry of ... Read More

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USA finalizes next China tariff list targeting $16 billion in imports

The list of U.S. imports affected by the taxes includes coal, oil, chemicals and some medical equipment. China's exports to the USA fell by 2.5 percent to $41.5 billion month-on-month, while imports of U.S. In July, the Chinese trade surplus with the United States dropped three percent, reports South China Morning Post. While there's no major risk of the world lapsing into "damaging stagflation", the possibility remains of a "bigger blow-up" that sharply reduces trade, as in the 1930s, it said. Read More

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Fetus found on board American Airlines plane after flight from Charlotte

Fetus found on board American Airlines plane after flight from Charlotte

Fetus was thought to be 5 months along . American Airlines said it would not impact the rest of their fleet. American Airlines Flight 1942 left the Queen City on Monday, August 6 at 8:48 p.m. "We will release determination when investigation is complete". Sources also told CBS that the Port Authority Police and Queens' District Attorney's office are investigating to find out who is the pregnant woman in question. Read More

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Why McGregor vs. Nurmagomedov is the ideal fight

Why McGregor vs. Nurmagomedov is the ideal fight

UFC president Dana White made the announcement during a news conference Friday (Aug. 3), revealing that McGregor-Nurmagomedov would headline UFC 229 at Vegas' T-Mobile Arena. The 30-year-old was ordered to perform five days' community service last week after pleading guilty to disorderly conduct following a disturbance at a UFC media day in April. Read More

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White House proposed increasing tariffs on $200B in Chinese imports

White House proposed increasing tariffs on $200B in Chinese imports

The White House is considering increasing planned tariffs on $200 billion of Chinese goods from 10 to 25 percent, according to unnamed sources familiar with the issue, as quoted by Bloomberg . It wants China to stop stealing USA corporate secrets, abandon plans to boost its high-tech industries at America's expense and stop subsidizing Chinese companies with cheap loans that enable them to compete unfairly. Read More

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This Weekend's Tax Holiday is for More Than School Supplies

This Weekend's Tax Holiday is for More Than School Supplies

The tax-free holiday traditionally starts on at 12:01 a.m. the first Friday in August and lasts through the following Sunday. Shoppers in Virginia won't have to pay sales taxes this weekend on certain items. Fur clothing also is tax exempt this weekend, but the one piece of clothing with fur, a woman's jacket with a real fur collar, retails far above the $100 limit at $1,100. Read More

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Chipotle closes restaurant after illnesses reported

Chipotle closes restaurant after illnesses reported

As the fast-casual restaurant chain promoted free guacamole with any entree on Tuesday, health officials began investigating hundreds of illness claims by people who ate at one of the chain's restaurants in Powell, Ohio. Chipotle voluntarily closed the OH restaurant Monday for deep cleaning and removal of all exposed foods and single-use equipment, the company said. Read More

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Apple becomes world's first trillion dollar company

Apple becomes world's first trillion dollar company

He launched the iPhone in 2007, dropping "Computer" from Apple's name and super-charging the cellphone industry, catching Microsoft Corp ( MSFT.O ), Intel Corp ( INTC.O ), Samsung Electronics ( 005930.KS ) and Nokia off guard. Apple's stock has risen more than 50,000% since it first listed in 1980. Amazon is in second place at $866bn, followed by Alphabet , the parent company of Google , at $843bn. Read More

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Facebook is sued after stock plunge 'shocked' market

Facebook is sued after stock plunge 'shocked' market

United States technology companies are set for a bumpy ride on Thursday's stock market as contagion spreads through the sector after Facebook shares plunged 24% on Wednesday. And for those hoping for a swift bounce back, the company told Wall Street the numbers won't get any better this year. When UK regulators issued the largest fine they could against the company as punishment for the Cambridge Analytica data scandal , the tab amounted to £500,000 ($655,000), chump change for a ... Read More

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Trump Set for Tense Trade Talks with Top EU Chief Juncker

Trump Set for Tense Trade Talks with Top EU Chief Juncker

Auto tariffs at the level Trump has threatened would add about 10,000 euros ($11,700) to the sticker price of a European-built vehicle sold in the USA, according a European Commission assessment obtained by Bloomberg News last month. The European Commission is drawing up a list of $20 billion of US goods to hit with duties if Washington imposes tariffs on imported cars, European Union trade commissioner Cecilia Malmstrom said on the eve of her boss' meeting with US President Donald Trump . Read More

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GOP senators surprised to attend Trump’s tariffs announcement

GOP senators surprised to attend Trump’s tariffs announcement

The deal involved the European Union importing more USA soybeans, lowering industrial tariffs and working on an agreement to import more liquified natural gas (LNG) from America, according to a Dow Jones report. The U.S. Department of Agriculture is trying to ease some of farmers' pain during the trade war . "Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs", Mr. Read More

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Trump Plan will Aid Farmers Hurt by Tariffs

Trump Plan will Aid Farmers Hurt by Tariffs

They understand that they're doing this for the country". Politico first reported news of the aid plan. Some were quick to denounce the proposal. "This trade war is cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches", Sasse said in a statement Tuesday. Read More

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Crude Oil Recovers, Extends Gains To 3rd Straight Session

Crude Oil Recovers, Extends Gains To 3rd Straight Session

Both Brent crude and USA benchmark West Texas Intermediate fell more than four per cent Monday, with the former hitting three-month lows of below $72 a barrel. The US government is sensitive about hikes in oil prices on the threshold of the country's important by-elections. "It was not long ago that the Saudis said they would make sure that there is adequate oil supply in the market, and now they are trying to reassure those who think they could oversupply the market", ING analysts ... Read More

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US may list tariffs on $200 billion more Chinese products

US may list tariffs on $200 billion more Chinese products

Stock markets in Shanghai dipped 1.8%, and Hong Kong fell more than 1.4%. The US listed $200bn (£150bn) worth of additional products it intends to place tariffs on as soon as September. In Beijing , Li Chenggang, assistant minister at China's Commerce Ministry, said that the latest USA proposals would hurt both countries and pointed to declines in Chinese export growth and overseas investment to the United States in the first half of this year. Read More

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Oil mixed as investors short-cover and Saudi boosts output

Oil mixed as investors short-cover and Saudi boosts output

On Wednesday, the USA president again accused the OPEC of driving fuel prices higher and urged U.S. allies such as Saudi Arabia to pump more. "This must be a two way street, REDUCE PRICING NOW!" In addition to reducing the price of its August barrels, Saudi Arabia also told the Organization of the Petroleum Exporting Countries ( OPEC ) that it increased production by nearly 500,000 barrels per day last month. Read More

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Trump mounts pressure on Opec to increase supply as oil prices climb

Trump mounts pressure on Opec to increase supply as oil prices climb

Saudi Arabia said it would "use its spare capacity when needed to deal with any future changes in oil supply and demand rates, in coordination with other producing countries", according to a report by the Saudi Press Agency . "It all kicked off at the weekend with Trump claiming the Saudis had agreed to an extra 2m barrels a day which is physically impossible, they just can't do that", he said. Read More

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Remasters And Rereleases No Longer Qualify For Amazon Prime Pre-order Discounts

Remasters And Rereleases No Longer Qualify For Amazon Prime Pre-order Discounts

Here are all the details! You can sign up to Amazon Prime for £7.99/$12.99 per month or £79/$119 per year here, or take advantage of the 30 day free trial to get your hands on the upcoming deals. Also new this year is that members can shop Prime Day Launches - new items, content, and special-edition products from an array of brands. You can get a four month subscription to Amazon Music for $0.99 . Read More

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Trump Attacks Harley Over Possible Overseas Production

Trump Attacks Harley Over Possible Overseas Production

Trump went on to say "When I had Harley-Davidson officials over to the White House, I chided them about tariffs in other countries, like India , being too high". Asked if Trump still feels that tariffs are the best option, White House press secretary Sarah Huckabee Sanders told reporters Monday that "the European Union is attempting to punish USA workers with unfair and discriminatory trade policies, and President Trump will continue to push for free, fair and reciprocal trade in hopes ... Read More

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Trump revs up Harley-Davidson fight into second day

Trump revs up Harley-Davidson fight into second day

In his latest Twitter rant targeting the iconic maker of motorcycles, Mr Trump warned: "If they move, watch, it will be the beginning of the end - they surrendered, they quit!" Harley-Davidson announced in January plans to shutter a Kansas City, Missouri, assembly plant, citing market conditions, about a month before Trump said he'd move forward on threats to implement tariffs on imports of aluminum and steel. Read More

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Iran says OPEC won't take direction from Trump

During the meeting, the group is expected to raise crude output after more than a year of cutting it to stabilize once-falling prices. The countries of the OPEC oil cartel will discuss increasing their production by about 1 million barrels a day at a meeting Friday that could influence the cost of energy globally in coming months. Read More

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Online shopping prices likely to rise after new sales tax ruling

Online shopping prices likely to rise after new sales tax ruling

Thanks to a 1967 Supreme Court ruling , states have only been allowed to collect sales tax on a purchase made when the retailer has a physical presence within that state. Solicitor General Noel Francisco said in a friend-of-the-court brief. Today's ruling caused publicly traded e-commerce companies share prices to tumble, with Shopify , Etsy , Amazon , eBay , Alibaba all recording losses in midday trading on their respective US exchanges. Read More

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