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China strikes back with tariffs on $60 billion of U.S. goods

Despite this threat, China's commerce ministry said today that it had no choice but to retaliate against United States trade tariffs, adding that it hopes the USA will realize the negative consequences of its actions and correct its behavior.

Business

China strikes $60 billion of USA goods in widening trade war

Donald Trump ratchets up the pressure on China by ordering new tariffs on US$200 billion worth of Chinese goods. "If the United States insists on raising tariffs even more, China will respond accordingly", the finance ministry said in a statement .

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Coca-Cola considers cannabis-infused drinks

Coca-Cola is eyeing the cannabis market, according to a Monday Bloomberg report. Other beverage makers have had similar discussions recently. There are already CBD drinks available in some markets, made by brands such as Dirty Lemon, Sprig and Kickback.

Business

Trump moving forward with plans for new China tariffs

The trade tiff has yet to be felt in US markets as the tariffs, which now are set at 3.8 percent, may rise to just 10 percent, which most companies can handle in a growing economy, said Brian Nick, chief investment strategist at Nuveen. Lou is chairman of the National Council for Social Security Fund. The administration's proposal for the tariffs on US$ 200 billion (S$247 billion) of products drew protest from technology companies earlier this year, but the final list of taxed devices ...

Business

The US bans anyone who smokes or invests in Canadian marijuana

Todd Owen, executive assistant commissioner for the CBP's Office of Field Operations, said Canadians can be denied entry and permanently banned from visiting the USA for working or investing in marijuana, even once federally legal recreational weed sales begin north of the border next month, Politico Thursday.

Business

U.S. businesses to lobby against Trump's tariffs

Roughly three-in-four firms surveyed said duties on an additional $200-billion worth of Chinese goods would hurt business further, and close to 70 per cent said additional retaliatory Chinese tariffs would be bad for business. "The U.S. administration runs the risk of a downward spiral of attack and counterattack, benefiting no one", William Zarit said in the statement. The Chinese have retaliated with tariffs on an equivalent amount of USA exports, and have promised to match future rounds ...

Business

Trump tweets Obama quote that never happened about economic performance

In a rare breaking of ranks, Fox Business host, Charles Gasparino, called out President Donald Trump on Tuesday, writing on Twitter , "when was the last time [Donald Trump] said something that wasn't filled with utter bull s**t?" Yet it was 50 words about the media that undercut Obama's credibility with the absurd claim that he - unlike Trump - didn't "threaten the freedom of the press".

Business

Trump ups ante on China, threatens duties on almost all its imports

China has threatened retaliation, which could include action against USA companies operating there. Yesterday, as the Guardian reported, Trump said that he wants to impose tariffs on an additional $267 billion in Chinese goods, totaling $467 billion.

Business

Les Moonves Expected To Leave CBS As More Allegations Surface

The terms of Moonves's exit were unclear, though it was reported that his severance will be withheld pending the results of an independent investigation. Moonves has responded to the doctor's allegations, telling Vanity Fair through a representative, "The appalling allegations about my conduct toward a female physician some 20 years ago are untrue".

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Obama blasts Trump and Republicans, urges Democrats to vote

In a speech at the University of IL at Urbana-Champaign, Mr Obama said Americans were living in "dangerous times ", urging Democrats to vote in November midterm elections to restore "honesty and decency and lawfulness" to government. The address comes as the former president and first lady delicately re-enter the political fray ahead of the midterm elections, a move filled with peril and opportunity as the most powerful duo in Democratic politics test whether they can help handicap Trump's ...

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Japan to halt Iran oil imports under US pressure

International Brent crude futures LCOc1 , by contrast, lost ground, trading at $78.10 per barrel, down 5 cents from their last close. US West Texas Intermediate ( WTI ) crude futures were at $69.31 per barrel at 0517 GMT, down 56 cents, or 0.8 percent, from their last settlement.

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Petrol, diesel prices rise for 10th day in a row

In the national capital, petrol prices touched Rs 79.15/litre and diesel was at Rs 71.15/litre. "This is a once off temporary intervention to provide some relief to motorists and consumers against fuel price hikes", the department said in a statement.

Business

Trump cancels pay raise federal workers were due in January

It is worth noting that the Senate spending plan did receive some opposition from the White House, as Trump has recommended freezing federal salary despite increasing pay by 1.4 percent previous year, according to Washington's Top News . The tax plan alone is expected to increase the deficit by $1.4 trillion over 10 years, according to a government estimate. The American Federation of Government Employees, a union for federal workers, is now calling on the House to pass a similar measure.

Business

Trump cancels planned January pay increase for civilian federal workers

Trump addressed the decision to forgo the pay increase in a letter to House and Senate leaders on Thursday, saying, "We must maintain efforts to put our Nation on a fiscally sustainable course, and Federal agency budgets can not sustain such increases".

Business

Facebook Watch video service is going worldwide

However, Facebook head of video Fidji Simo included some numbers today in a company blog post today by way of explaining how serious Facebook is about this next front in its evolution. If this platform is new to you, Facebook announced Watch a year ago where they started with a launch in the U.S. first. It also offers categories like " Most Talked About ", " What's Making People Laugh " and "What Friends Are Watching".

Business

Seeking Brexit friends, United Kingdom aims to be Africa's top investor

May also visited South Africa, another of the continent's top economies, and her next stop is Kenya. Britain and Nigeria signed a security and defense agreement during a one-day visit by Prime Minister Theresa May on Wednesday as Africa's most populous country struggles to defeat Boko Haram extremists and others linked to the Islamic State organization.

Business

Elon Musk Won't Back Down On Cave Diver 'Pedo' Remark

Bet he can expect that lawsuit this time . Unsworth's lawyer in an August 6 letter to Musk threatened a possible lawsuit for "false and defamatory statements ", Buzzfeed News reported . The agency is reportedly investigating whether Musk was attempting to hurt the company's short-sellers when he published the tweet. Mr Musk has more than 22 million Twitter followers and frequently interacts with users who refer to him on the platform.

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Michael Cohen's lawyer walks back claim Trump knew of Russia meeting

The Daniels payment was charged as an excessive personal contribution and the National Enquirer money was charged as an unlawful corporate contribution, both "for the principle goal of influencing the election", Cohen said in court. Cohen . "I don't think we should be talking about it and embracing it before we've seen the full body of evidence", Schiff, a former prosecutor, said of impeaching the president.

Business

Kalashnikov CV-1 Electric Car is Ready to Take on Tesla

Technically, one could consider the Kalashnikov CV-1 a restomod show auto rather than a concept auto, though the advertised specifications of the electric powertrain tech underneath are competitive with other modern mass-market electric vehicles.

Business

After California firefighter throttling flap, Verizon lifts first responder speed caps

Verizon has since said it will change its policies for public safety departments during emergencies. The revelations, which were first reported by Ars Technica , are buried in an addendum to a brief filed in support of 21 states and the District of Columbia, which together filed a lawsuit this year that essentially seeks to restore rules known as net neutrality.

Business

A week of devastating body blows for Donald Trump

Mr Trump was responding to a question on his mounting legal woes after his former attorney Michael Cohen said under oath that Mr Trump instructed him to commit a crime by breaking USA campaign finance laws. Mr Trump said: "I don't know how you can impeach somebody who has done a great job". Trump added in a tweet that is certain to raise speculation about whether the president might pardon Manafort at some point.

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Prosecutors circling Trump's businesses after Cohen plea

The investigation would seek to determine how the Trump Organization accounted for the reimbursement it paid Cohen, the report said, noting that the company labeled the reimbursement as payment for legal fees. While Pecker is cooperating with federal prosecutors now, American Media previously declined to participate in congressional inquiries. Democratic forces hoping to nail Trump for alleged Russian Federation collusion are now pinning their hopes on Michael Cohen , who was convicted ...

Business

US President Trump takes aim at Federal Reserve for rates hike

The president said that he was told by advisers that Powell liked " cheap money " before he chose him to run the Fed, according to the Wall Street Journal . The U.S. -China trade talks are set to begin later on Wednesday in Washington , although expectations are generally low. US stocks fell modestly after the minutes were published while the dollar.DXY weakened against a basket of currencies.

Business

PepsiCo puts fizz into healthy drinks with $3.2 billion SodaStream deal

However, Sodastream has commanded some negative headlines in recent years as well, due to the fact that its primary manufacturing plant was for years located in the West Bank, much to the annoyance of pro-Palestinian activists who dispute Israeli control of the territory.

Business

Tesla shares down 8 percent after Musk's weird interview

Musk said the carmaker approached Sandberg two years ago for the Tesla COO position. Plus, the eccentric billionaire is the head of at least two other companies , including the rocket company Space X. Observers puzzled over the price he cited. "If your plan is to take this company private , out of the public eye and the regulatory eye of the SEC, then people who have a fiduciary responsibility to their investors have to feel comfortable about the situation, and the New York Times ...