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Economy

Also weighing on oil demand are trade disputes between the United States and other major economies including China, the European Union, India and Canada. allies. Russian Federation and Saudi Arabia will face "dire consequences" if they increase their oil production, the head of the state energy firm said.
  • Amazon to buy PillPack in drug retailing push

    Amazon to buy PillPack in drug retailing push

    Economy

    Amazon announced Thursday it is expanding into the pharmaceutical space with plans to acquire online pharmacy PillPack . Additionally, Amazon's $13.7 billion purchase of the natural and organic supermarket chain Whole Foods in June past year could provide the real estate Amazon may need to expand its pharmacy interests.
  • Ryan Warns of 'Escalating Taxes' with Tariffs as Trump Hits at Harley

    Ryan Warns of 'Escalating Taxes' with Tariffs as Trump Hits at Harley

    Economy

    European Union officials suggested Trump had only himself to blame for the falling-out with a company he had previously hailed as "a true American icon". Companies are now coming back to America. The Thailand plant had no connection with the closure of the Kansas City facility, Harley-Davidson Chief Executive Matt Levatich told Reuters in an interview in February.
  • Why Harley-Davidson Is Moving Production Overseas

    Why Harley-Davidson Is Moving Production Overseas

    Economy

    Harley plans to address the tariff burden by shifting production of motorcycles for European Union destinations from the U.S.to its worldwide facilities. Spokesperson Michael Pflughoeft said the company was "assessing the potential impact" on jobs. The company said it would provide more details during its next quarterly earnings announcement July 24.
  • Turkey's Erdogan wins presidential election

    Turkey's Erdogan wins presidential election

    Economy

    Critics have accused him of increasingly taking authoritarian actions. But, as Turkey moves ever further toward authoritarianism and away from democracy, another question inevitably hovers on the horizon: why is Turkey still a member of North Atlantic Treaty Organisation, and how long can that last? Erdogan's closest rival, Muharrem Ince, who complained of unfair elections, has yet to formally concede defeat.
  • Harley-Davidson to take big hit from European Union tariffs

    Harley-Davidson to take big hit from European Union tariffs

    Economy

    I fought hard for them and ultimately they will not pay tariffs selling into the European Union , which has hurt us badly on trade, down $151 Billion. In January, Harley-Davidson announced that it would be closing its plant in Kansas City and moving leftover production to York, Pennsylvania. Mary Lovely, a senior fellow at the Peterson Institute for International Economics, and Yang Liang, a graduate associate at the Moynihan Institute of Global Affairs, highlighted the possibility ...
  • Amazon Prime Day 2018 Kicks Off July 16

    Amazon Prime Day 2018 Kicks Off July 16

    Economy

    If their deal meets stock and pricing criteria, it may be featured by Amazon. The company now offers, a curated box of two or four children's books available for Prime members for $22.99. Want to see if there will be any cord cutting deals? Based on last year's Prime Day - which ran from 9 p.m. Amazon is one of the largest stores and companies in the world.
  • OPEC countries to pump more oil to contain price increase

    OPEC countries to pump more oil to contain price increase

    Economy

    Al-Falih said after Saturday's meeting in Vienna that tweets from Trump were "reflective of his concern for American consumers". Consumers can rest assured that "their energy supplies are available, are being stewarded by a responsible group of producers".
  • Trade war rages as European Union slaps 'political' tariffs on US

    Trade war rages as European Union slaps 'political' tariffs on US

    Economy

    Trump has often complained about the 10 percent tariff the European Union imposes on imports of US cars. India and Turkey have already targeted USA products, ranging from rice to autos to sunscreen. Trump's trade policies have also escalated conflict with Canada and Mexico as he seeks to renegotiate the $1.1 trillion North American Free Trade Agreement .
  • NRF Says Supreme Court Sales-Tax Ruling Levels the Playing Field

    NRF Says Supreme Court Sales-Tax Ruling Levels the Playing Field

    Economy

    Supreme Court decision allowing states to make online shoppers pay it. However, this only applies to items from its own inventory, not those from third-party sellers. Thursday's ruling overturns a 1992 ruling in a case called Quill v North Dakota. "If you look at the implosion of big-box stores, if you look at the explosion of online purchasing, these major life-changing market trends ...
  • China accuses Trump of ‘blackmail after new tariffs threat

    China accuses Trump of ‘blackmail after new tariffs threat

    Economy

    The United States also recently set new sanctions on Iran's petroleum industry, which is expected to disrupt oil flows. Goldman Sachs analysts forecast that the negative growth impact on China of the tariffs would be 10-20 basis points of gross domestic product (GDP), while the effects on Chinese consumer price index (CPI) inflation would be "modest, on the order of 10-20 basis points".