• Reserve Bank poised to cut interest rates in June
Reserve Bank poised to cut interest rates in June

Signs that the USA central bank is also shifting towards a cautious outlook would leave United States dollars exchange rates exposed to a fresh bout of selling pressure. "A lower cash rate would support employment growth and bring forward the time when inflation is consistent with the target". The combination of lower interest rates and easy lend...

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  • Weekly US oil report shows an increase in crude supplies
Weekly US oil report shows an increase in crude supplies

Also bearish is the ongoing trade war between the USA and China, which is clouding economic growth, and with that, oil demand predictions as well. July West Texas Intermediate crude CLN19, -3.25% fell by 80 cents, or 1.3%, to $62.33 a barrel on the New York Mercantile Exchange.

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  • 62k pounds of raw beef products recalled due to E. coli risk
62k pounds of raw beef products recalled due to E. coli risk

The FSIS urged consumers to discard impacted products and practice food safety, which includes preparing raw meat products safely and only eating products cooked to a temperature of 165 degrees F to ensure harmful bacteria has been killed. Most people can recover within a week, but children under five and older adults can develop a kidney failure c...

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  • Google faces a huge fine for allegedly violating privacy rules
Google faces a huge fine for allegedly violating privacy rules

Arising from the Data Protection Commission's ongoing examination of data protection compliance in the area of personalised online advertising and a number of submissions to the Data Protection Commission, including those made by Dr. Like GDPR, this framework should uphold the fundamental right to privacy through rules that give people control over...

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  • Ford and Agility Team Up for Bipedal Robot Deliveries
Ford and Agility Team Up for Bipedal Robot Deliveries

An undated handout image of Digit , a two-legged walking robot that can lift packages that weigh up to 40 pounds. Autonomous deliveries and self-driving vehicles are all the rage, and now Ford is joining in on all of the fun and this robot is straight out of a sci-fi movie.

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  • Pelosi: Move to impeach Trump now would be premature, 'divisive'
Pelosi: Move to impeach Trump now would be premature, 'divisive'

The clash marked a dramatic escalation in Trump's war of words with congressional opponents seeking to bring him to account for what they say is presidential wrongdoing. The exchanges followed a day of particularly personal conflict between Trump and Pelosi, who reclaimed the post second in line to the presidency after the 2018 midterm elections.

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  • Nike, Adidas, among 170 firms urge Trump to end China trade war
Nike, Adidas, among 170 firms urge Trump to end China trade war

A 30-day window would represent an accelerated schedule compared to previous rounds of U.S. tariffs. He noted that President Donald Trump will likely meet with China's President Xi Jingping in late June on the sidelines of an global summit.

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  • Tesla stock slashed from $97 to $10 in worst-scenario: Morgan Stanley
Tesla stock slashed from $97 to $10 in worst-scenario: Morgan Stanley

Not much has gone right for the California automotive upstart in recent months, starting with word that first-quarter sales had fallen well short of expectations. "Tesla is a auto company". Wedbush cut its target from United States dollars 275 per share to USD 230 per share, citing concerns over Tesla Chief Executive Officer Elon Musk's growth plan...

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  • Huawei Is Losing Access to Critical ARM Chip Designs
Huawei Is Losing Access to Critical ARM Chip Designs

This has led ARM to believe that working with Huawei would see it breach U.S. trade regulations. ARM said in an internal company memo that its designs contain technology of United States origin, according to a BBC report , which explains why the company would comply with the ban.

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  • DressBarn Going Out Of Business, Closing All 650 Stores
DressBarn Going Out Of Business, Closing All 650 Stores

Dressbarn's announcement pushes that total beyond 7,000 stores shuttering, with USA Today reporting the record is 8,139 store closures in 2017. "The Dressbarn chain has not been operating at an acceptable level of profitability in today's retail environment", Steven Taylor , Dressbarn's chief financial officer, said in the Dressbarn company sta...

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  • Nikkei opens higher on surprise in GDP growth
Nikkei opens higher on surprise in GDP growth

It was the second successive expansion for the Japanese economy after growth of 0.4 percent in the fourth quarter of past year. According to the Japanese government , the nation's GDP rose by 2.1 percent between January and March. The on-going deterioration of the domestic and global economic environment calls for a delay in the tax hike, some p...

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  • Huawei Mobile Users Ponder Switching Brand After Google News
Huawei Mobile Users Ponder Switching Brand After Google News

Huawei founder Ren Zhengfei sought to put a fearless face on the situation , saying Tuesday that the company has "supply backups" if it loses access to American components. On Sunday, the US' decision to place Huawei on its trade blacklist led Google to suspend business with Huawei, China's largest telco, in matters relating to the transfe...

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  • Trump slams the NYT following publication of Deutsche Bank report
Trump slams the NYT following publication of Deutsche Bank report

Trump said the mainstream media has never been " as corrupt and deranged " as it is today and dismissed the idea that he was unhappy with the service provided by Deutsche Bank, which he said was " very good and highly professional " to deal with.

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  • What the Google suspension means for Huawei phone users
What the Google suspension means for Huawei phone users

On Monday, the USA government's Department of Commerce granted a temporary general license that allows U.S. businesses to export or transfer "information and communications technology or services" to Huawei for the next 90 days , from May 20 until August 19, this year, for existing kit.

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  • India elections: Modi ready to form govt as shares hit record high
India elections: Modi ready to form govt as shares hit record high

The exit poll verdict is in, predicting the BJP-led NDA as the clear victor with big gains in Bengal and Odisha that will help tide it over losses in Uttar Pradesh. The official Congress briefing by party leaders, which had understandably been a regular feature during the five long weeks of the bitterly fought Lok Sabha polls, was not held either.

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  • China stocks, yuan weaken on trade war escalation World 12:19
China stocks, yuan weaken on trade war escalation World 12:19

The trade-weighted index rose to 72.13 points from 72.03, again reflecting the change in the yuan's value. But the yuan managed to break a six-day losing streak today and rose 0.25 per cent as broader sentiment stabilised after Trump said he expected Sino-US trade negotiations to be successful.

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  • Google blocks Huawei phones from using Android apps
Google blocks Huawei phones from using Android apps

But for anyone now in possession of a Huawei phone , there's no need to panic. Huawei's smartphone business in China will not be affected much by this move since it sells smartphones without Google Play in the region and the company continues to have access to the AOSP version of Android.

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  • Ford sees twisting road ahead, cuts 7,000 white-collar jobs
Ford sees twisting road ahead, cuts 7,000 white-collar jobs

It says the company's management team is shrinking by close to 20% as part of the restructuring, which will save Ford about $600 million a year. Ford announced Monday that they would be laying off about 500 white collar employees in the US, mostly in Dearborn, with more cuts globally.

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  • FCC Chairman Pai recommends approval of T-Mobile-Sprint Merger
FCC Chairman Pai recommends approval of T-Mobile-Sprint Merger

While Pai's backing is key to the deal, further steps remain. This news comes hours after FCC Chairman Ajit Pai publicly pledged his support for T-Mobile and Sprint's merger. which could include total payments to the US Treasury of billions of dollars, creating a powerful incentive for the companies to meet their commitments on time".

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  • U.S. says it may scale back some Huawei trade restrictions
U.S. says it may scale back some Huawei trade restrictions

In a statement sent to the Global Times, the firm said it maintains business with Huawei, defined it as one of its most important customers and denied alleged pressure from the USA government to cut ties with the company. To ensure continued production in the coming months, it has been stockpiling critical USA parts for almost a year, according t...

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