Business News
US President Donald Trump has issued another warning to the EU, threatening to slap the bloc’s automakers with 20 percent tax levies unless trade barriers placed on American corporations are lifted.
- Win-win deal for Russia & Saudi Arabia: OPEC agrees to ramp up production
OPEC and non-member allies led by Russia have agreed to raise oil production by a million barrels per day. It can be regarded as a victory for Saudi Arabia and Russia, which had pushed to boost output to alleviate high prices. - Germany makes €3 billion from Greece's financial crisis
The eurozone has finally agreed to get Greece out of the European assistance program with the country to get its fifth and last tranche of €15 billion in August. The step brings an end to the 10-year debt crisis in the country. - Trump trade war a ‘symptom of paranoid delusions’ – Chinese media
The China Daily has accused the Trump administration of “manipulative maneuvers,” which have led to a trade war and the lowest level of Chinese investment in the US economy in seven years. - US government accuses Google of collaboration with China over Huawei ties
US lawmakers have questioned Google’s “strategic partnership” with Chinese major smartphone producer Huawei saying it "could pose a serious risk to US national security" and American consumers.
- Kim Dotcom predicts US tariffs will drive cryptocurrency growth
Kim Dotcom is predicting that Donald Trump’s burgeoning global trade war will cause stock markets to crash - and lead to a surge in cryptocurrency growth. - Win-win deal for Russia & Saudi Arabia: OPEC agrees to ramp up productionOPEC and non-member allies led by Russia have agreed to raise oil production by a million barrels per day. It can be regarded as a victory for Saudi Arabia and Russia, which had pushed to boost output to alleviate high prices.
- Trump threatens 20% tariffs on all European cars coming into USUS President Donald Trump has issued another warning to the EU, threatening to slap the bloc’s automakers with 20 percent tax levies unless trade barriers placed on American corporations are lifted.
- Trump trade war a ‘symptom of paranoid delusions’ – Chinese mediaThe China Daily has accused the Trump administration of “manipulative maneuvers,” which have led to a trade war and the lowest level of Chinese investment in the US economy in seven years.
- Germany makes €3 billion from Greece's financial crisisThe eurozone has finally agreed to get Greece out of the European assistance program with the country to get its fifth and last tranche of €15 billion in August. The step brings an end to the 10-year debt crisis in the country.
- US-China trade war is great news for OPEC
The US-Chinese trade rift threatens to limit US crude oil exports to China that have been gaining pace in recent months and eating into OPEC’s share in the market, a market that is setting the pace of global oil demand growth. - US government accuses Google of collaboration with China over Huawei tiesUS lawmakers have questioned Google’s “strategic partnership” with Chinese major smartphone producer Huawei saying it "could pose a serious risk to US national security" and American consumers.
- OPEC+ eyes boosting crude output by 1mn barrels
An OPEC+ ministerial committee is recommending participants to boost daily crude production by 1 million barrels. - Russia gets rid of US Treasury securities and buys gold
US sanctions have forced Russia to look at ways of securing its foreign reserves. In recent years, Moscow has increased purchases of physical gold and dramatically reduced its share of US debt bonds. - Crimea's lifeline to Syria: Damascus gets grain supplies from Russia’s Black Sea peninsula
Russia has begun deliveries of wheat from Crimea to Syria. The move solves the dual problems of grain overproduction in Crimea and Syria’s desperate need for bread. - Bavaria rejects Angela Merkel's plan of paying out more money for eurozone
Bavarian Prime Minister Markus Soeder says he does not want German taxpayers to foot the bill for troubled European economies. He suggests the EU should solve the debt crisis first instead. - Tit-for-tat: World responds to Trump's tariffs with levies on US goods
The trade war that captured the world over recent months has deepened with more countries responding to US tariffs, while others are pledging to toughen already introduced retaliatory measures.
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