• Oil slips below $77, weighed down by Saudi output boost, trade tensions
Oil slips below $77, weighed down by Saudi output boost, trade tensions

Trump points out the USA defends OPEC members for a "very little" amount of money. "This must be a two way street", he wrote, adding in block capitals, "REDUCE PRICING NOW!" Top exporter Saudi Arabia told OPEC it had raised oil output by nearly 500,000 barrels per day last month, OPEC sources said, a sign Riyadh wants to make up for sho...

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  • How Trump's trade war could affect Florida
How Trump's trade war could affect Florida

It accused the United States of "typical trade bullying ". He also noted that about $20 billion of the goods that will be subject to the USA tariffs are supported by foreign investors, including many from the United States. The shooting has begun in the U.S. The taxes target 818 kinds of Chinese products in industries such as aerospace, ...

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  • China warns U.S. is ‘opening fire’ on the world with tariff threats
China warns U.S. is ‘opening fire’ on the world with tariff threats

China on Friday joined the trade war with the United States, by announcing it was ready for a long campaign after authorities in Washington declared a 25 % additional levy on Chinese products worth $ 34 billion. China's tariffs, on the other hand, will hit agricultural products like soybeans and pork . "If the U.S. is determined to escalate confl...

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  • The rise in the United States unemployment rate isn’t bad news
The rise in the United States unemployment rate isn’t bad news

Hourly wages increased by 0.2 percent for an average annual increase of 2.7 percent, lower than analysts had hoped. The job growth wasn't enough to keep the unemployment rate from rising from 3.8 percent to 4 percent, the government said Friday.

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  • China’s HNA Group Chairman Wang dies after fall in France
China’s HNA Group Chairman Wang dies after fall in France

HNA said that Wang, 57, suffered a fall in Provence, southern France, and received medical treatment but did not recover. HNA has recently been selling off its holdings in hotel companies including Hilton Worldwide Holdings Inc ., Park Hotels & Resorts and Spain's NH Hotels.

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  • US Moves To Reduce Iran's Oil Revenue To Zero
US Moves To Reduce Iran's Oil Revenue To Zero

Saudi Arabia has the largest spare capacity of about 2 million barrels, which would be stretched to the limit if the kingdom would have to make up for lost supplies. Oil surged in the past two weeks as the US pushes allies to end imports of Iranian crude, disruptions persist in places like Libya and American crude inventories shrink.

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  • European Union warns Trump that auto tariffs could lead to $300B retaliation
European Union warns Trump that auto tariffs could lead to $300B retaliation

With some of America's closest trading partners imposing retaliatory measures, Trump's approach to tariffs has unsettled financial markets and strained relations between the White House and the Chamber. The Chamber is expected to spend millions of dollars ahead of the November elections to help candidates who back free trade, immigration and lowe...

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  • Lower oil prices or we will not ‘defend’ you
Lower oil prices or we will not ‘defend’ you

However, at its June meeting, OPEC agreed to slightly increase oil production. USA crude futures were up 32 cents at $74.46, within sight of Tuesday's 3-1/2-year high above $75. The oil market has been supported by a fall in output from Venezuela and the potential for a halt of Iranian oil exports due to US sanctions. Iran has threatened to blo...

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  • Central banker: we can't undo trade war damage
Central banker: we can't undo trade war damage

Both sides have threatened to impose similarly sized tariffs on 6 July but because of the 12-hour time difference, the Chinese tariffs on United States imports ranging from soybean to stainless steel pipes will take effect earlier. China will continue to assess the impact of the trade dispute and will help firms cope with possible shocks, Gao said....

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  • Basketball: LeBron's Lakers start to take shape as big banner exits Cleveland
Basketball: LeBron's Lakers start to take shape as big banner exits Cleveland

However, things could dramatically change, at least when it comes to the East, if the Sixers were to land Leonard. Kawhi Leonard is set to hit free agency and his preferred destination has been Los Angeles as far as a trade was concerned this offseason.

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  • Canada tariffs on $12.6B of USA goods take effect
Canada tariffs on $12.6B of USA goods take effect

For example, almost $4 billion worth of exports from Texas could be targeted by retaliatory tariffs , the Chamber said, including $321 million in meat the state sends to Mexico each year and $494 million in grain sorghum it exports to China.

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  • Canada retaliates, starts tariffs against the US
Canada retaliates, starts tariffs against the US

The new taxes are based the amount of steel and aluminum that was shipped from Canada to the United States past year, according to reports . The selection of Leamington, known as Canada's tomato capital, was deliberate. "We will not escalate and we will not back down", she said, while noting that this trade action was the strongest Ottawa ha...

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  • Halting Iranian oil export is an illusion: Jahangiri
Halting Iranian oil export is an illusion: Jahangiri

The Saudi leader said he was ready to raise output if needed, the White House said in a statement. An agency report on Tuesday indicated, however, that despite the USA push on Saudi Arabia, futures in NY jumped as much as 1.7 per cent. The US "down to zero" plan rests heavily on banning India and China from buying from the Iranians, and while I...

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  • Trump Trade Legislation Has Unfortunate Acronym of FART
Trump Trade Legislation Has Unfortunate Acronym of FART

FART Act. Trump's aggressive stance has roiled USA relations with allies and trading partners from Europe to China. The United States has imposed tariffs on European steel and aluminium imports and is conducting another national security study that could lead to tariffs on imports of cars and auto parts.

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"Impeach 45" T-Shirt Triggers Trump Fans, Inspires Boycott

The company has been selling apparel from the third-party vendor Old Glory that contains the phrase, which refers to 45th President Donald Trump . While the Centerbrook, Connecticut-based company sells hundreds of shirts, hats, underwear and Halloween costumes via Walmart, it also runs its own website and sells similar merchandise on Amazon....

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  • Lopez Obrador Declares Victory in Mexican Presidential Election, Peso Falls
Lopez Obrador Declares Victory in Mexican Presidential Election, Peso Falls

Last year, Mexico recorded more homicides than at any point in its modern history, and it is on track to break that record this year. Lopez Obrador - popularly known as AMLO - published a book past year that was sharply critical of Trump , fueling concern he might prove more combative with Mexico's largest trading partner.

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  • India preparing for cut in oil imports from Iran
India preparing for cut in oil imports from Iran

The telephone exchange is another sign of how US-Saudi ties have improved under Trump compared with the Obama administration, which alienated the kingdom by seeking a nuclear deal with Iran. Trump was vague about whether the two-million-barrel increase would be per day. "I guess the Saudis want to give the confidence to Trump to go very hardcor...

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  • European Union warns Trump that raised vehicle import tariffs would hurt US
European Union warns Trump that raised vehicle import tariffs would hurt US

The chamber's three million members applauded Trump's business tax cuts in December, but the organization has distanced itself from the president since his call for new tariffs against China , Canada, Mexico, and the European Union . Trump on Wednesday said he supported tougher restrictions on foreign investment in sensitive technology, as well...

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  • Five Years After Going Private, Dell Is Going Public Again
Five Years After Going Private, Dell Is Going Public Again

The cash component of the offer will be financed by a one-time $11 billion special dividend that VMware will pay out pro-rata to its shareholders. Once that deal is completed, the Dell Class C shares will be listed on the New York Stock Exchange.

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  • Lakers agree to deals with Stephenson, McGee, Caldwell-Pope
Lakers agree to deals with Stephenson, McGee, Caldwell-Pope

James might end up being the only top free agent to sign in Los Angeles this summer (no offense, Lance Stephenson and JaVale McGee ) but next summer should be a big one for Magic Johnson and Co., too. ET Sunday, sources told ESPN's Dave McMenamin. With the OK3 remaining intact, Chris Paul and James Harden attempting to run it back, and...

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