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Economy

Saudi Arabia is trying to convince fellow OPEC members of the need to raise oil output, sources familiar with the talks said on Wednesday. The talks, held as the cartel hosted an global energy conference attended by hundreds of officials, executives and investors, will shape oil prices, energy stocks and currencies of petroleum-exporting countries for months to come.
  • How does the latest interest rate hike impact you?

    How does the latest interest rate hike impact you?

    Economy

    At this point, there's been little evidence that wage or price inflation is accelerating. Announcing the decision to increase its target for the fed-funds rate to a range of 1.75% to 2%, the Fed described the U.S. Estimates of longer-run interest rates were unchanged and seen reaching as high as 3.4 per cent in 2020 before dropping to 2.9 per cent in the longer run.
  • White House adviser apologizes for slamming Justin Trudeau

    White House adviser apologizes for slamming Justin Trudeau

    Economy

    Known for his hardline stance on China, Navarro said that while it is not the US' job to change other countries' behaviour, the Trump administration would " defend ourselves " against Chinese trade policies. Immediately after his remarks Saturday, Trump blasted Trudeau's statement as "dishonest & weak" on Twitter and announced the USA would not be signing the joint G7 communique - a symbolic but unprecedented move.
  • Tesla to layoff 9 percent of workforce

    Tesla to layoff 9 percent of workforce

    Economy

    Musk in the email thanked the employees leaving the company and said the individuals will receive compensation. "Given that Tesla has never made an annual profit in the nearly 15 years since we have existed, profit is obviously not what motivates us", Musk wrote in the internal memo announcing the job cuts.
  • Pallister voices concern over Canada-U.S. trade fight

    Economy

    The joint communique was published online before Trump tweeted his disapproval after comments made by Canadian Prime Minister Justin Trudeau on the new trade tariffs. In a tweet sent Sunday while en route to Singapore, Trump pointed specifically to Canada's 270% tariff on dairy the origin of his frustrations with Canada.
  • Pompeo Warns North Korea: 'Irreversible Denuclearization' Only Acceptable Outcome

    Economy

    Kim's sister gained notoriety during the Winter Olympics in Pyeongchang, South Korea in February, where she met with South Korean President Moon Jae-in. It brings the president more in line with veteran diplomats who have dealt with North Korea and know firsthand the difficulty of extracting verifiable concessions, and it helps ensure that - whatever happens on Tuesday - the president can tout it as a win.
  • Consumers’ Internet Use Could Change As ‘Net Neutrality’ Ends

    Consumers’ Internet Use Could Change As ‘Net Neutrality’ Ends

    Economy

    They couldn't deliberately speed up or slow down traffic from specific websites or apps, nor could they put their own content at an advantage over rivals. Enacted in 2015, the rules sought to stop providers giving preferential treatment to sites and services that paid them to accelerate their data. "We'll see what happens after the [midterm] election", Lewis says.
  • Trump expects Kim summit to 'work out very nicely'

    Trump expects Kim summit to 'work out very nicely'

    Economy

    That evening, he said in a tweet that "great progress" was already being made and that denuclearization - "not just a freeze" - was on the table. Asked by a reporter how he felt about the summit, Mr Trump said: "Very good". Just a few months ago, Kim was an global pariah accused of ordering the killing of his uncle, a half-brother and scores of officials suspected of disloyalty.
  • Verizon Announces Hans Vestberg As Its Next CEO

    Verizon Announces Hans Vestberg As Its Next CEO

    Economy

    Vestberg, the former CEO of Ericsson AB, joined Verizon a little more than a year ago, bringing vital network experience. The appointment of Hans Vestberg indicates that the key strategy of Verizon, the number one telecom operator in the USA, will be in the building up of 5G, the next-generation of wireless network and not expanding into media content, Reuters reported .
  • Ghana to dissolve football association over bribery allegations

    Ghana to dissolve football association over bribery allegations

    Economy

    Before the last World Cup in Brazil in 2014, Nyantakyi was accused of signing a $170,000-deal for Ghana to play in a friendly organised by match fixers. Information minister Mustapha Abdul-Hamid said in a statement that the government was shocked and outraged at the contents of the documentary and would refer the alleged culprits to the police for investigation.