Markets

Sonos files to go public as it amps up its speaker game

Sonos files to go public as it amps up its speaker game For example, Sonos One and Sonos Beam feature voice-control enablement powered by Amazon's Alexa technology while Amazon now competes by offering speaker products of their own. In the filing, the company says it's aiming to raise up to $100 million in the IPO. At the same time, Sonos said it plans to "deepen our relationships" with current partners, including Amazon, Google and Apple. [Full Article...]

US crude stocks up; gasoline inventories decrease

US crude stocks up; gasoline inventories decrease High oil prices make fracking more economically viable for the USA, now the third largest producer of oil worldwide. Last month, members of the Organization of the Petroleum Exporting Countries cartel agreed to pump 1 million barrels more crude oil daily, a move that should help contain the recent rise in global energy prices. [Full Article...]

China's tariff response takes effect after Trump ignites trade war

China's tariff response takes effect after Trump ignites trade war The row has caused turbulence on the world's stock markets and could hurt global trade and growth. "I think products made in China are the best", said one shopper in a Beijing grocery story, who gave his name as Yang. How will the tariffs be implemented? The U.S. Chamber of Commerce, which strongly opposes the tariffs , says the hit could be $112 million, including aluminum scrap, lobster... [Full Article...]

Global Memory Market Very Likely to See Reshuffle

Global Memory Market Very Likely to See Reshuffle If the judgment is enforced in the future, Micron will be prohibited from selling some of its memory products in China. Shares of Micron Technology, Inc . " Micron will continue to aggressively defend against these unfounded patent infringement claims while continuing to work closely with its customers and partners". [Full Article...]

China Trade War Starts

China Trade War Starts Among other energy products, China noticeably spared U.S. liquefied natural gas (LNG) exports from potential import tariffs, but in doing so, it has preserved a potential weapon should the trade war with Washington deepen. Financial markets seemed to take the latest developments in stride. Asian equities wobbled but also managed to end up. "China will not bow down in the face of threats and blac... [Full Article...]

Trump threatens China with more than $500bn in United States trade tariffs

Trump threatens China with more than $500bn in United States trade tariffs U.S. Customs and Border Protection said in a notice it would begin collecting the 25 percent duties on 818 product lines identified in June by the U.S. US crude rose 1.07 percent to $73.72 per barrel and Brent was last at $77.11, down 0.36 percent on the day. US shipments have almost ground to a halt since the 25 percent tariffs implemented on April 2. [Full Article...]

USA job growth strong but unemployment rate rises to 4%

So far this year, the USA economy has added an average of 215,000 jobs per month. The labor force participation has increased, which brought the unemployment rate up slightly from 3.8 percent to 4 percent. Experts predict the move even though the economy is facing significant uncertainty from Canada's intensifying trade dispute with the United States as well as growing fears of a global trade war. [Full Article...]

Beijing is gearing up for a long, bitter trade war with Washington

Beijing is gearing up for a long, bitter trade war with Washington Minutes after the US tariffs went into effect at 12:01 Friday US time (0401 GMT), a spokesperson for China's ministry of commerce said, "China promised not to fire the first shot , but in order to safeguard the country's core interests as well as that of the people, it is forced to fight back", according to Xinhua . [Full Article...]

Elon Musk sending team of engineers to aid in Thai cave rescue

Elon Musk sending team of engineers to aid in Thai cave rescue Yesterday the target was an area known as chamber three - still at least two kilometres from the ledge where the boys are sheltering. Notably, the serial entrepreneur is actively engaged in below-surface tunneling in the U.S., via his Boring Company , which is developing a series of underground tunnels in some major cities to make room for Loop, Musk's idea for a next-generation high-speed ... [Full Article...]

Business hiring forges ahead in June, with 213,000 jobs added

The unemployment rate is forecast holding at an 18-year low of 3.8 percent in June. USA employers likely maintained a brisk pace of hiring in June while increasing wages for workers, which would reinforce expectations of robust economic growth in the second quarter and allow the Federal Reserve to continue raising interest rates. [Full Article...]

Runoff from bourbon barrel 'mountain' largely contained after rest of warehouse collapses

Runoff from bourbon barrel 'mountain' largely contained after rest of warehouse collapses Nelson County Emergency Management spokesman Milt Spalding said about 9,000 barrels of aging spirits were affected during the first collapse on June 22 . In a statement, the company said its employees "worked quickly to contain the spill" Wednesday, with none of the new runoff entering any waterways. [Full Article...]

Tesla's Stock Registers Two-Day Dip, Despite Second-Quarter Production Milestone

Tesla's Stock Registers Two-Day Dip, Despite Second-Quarter Production Milestone Now the cheapest Model 3 that can be ordered costs around $49,000, and they can run upward of $70,000. Instead, it will only be there as a display model. Say in Canada and the States only 10,000 potential buyers would have followed the call, Tesla had gained 25,000,000 dollars. Some employees are anxious about the frenetic pace plus long hours could burn out workers. [Full Article...]

Boeing Forges Commercial Airplane Venture With Embraer

Boeing Forges Commercial Airplane Venture With Embraer Boeing Co .is forming a $4.75 billion venture with long-time industrial partner Embraer SA, a move that will bolster its arsenal in the newest battlefront with Airbus SE: the market for smaller jetliners. The deal is expected to close by the end of 2019. Finalisation of the financial and operational details of the strategic partnership and negotiation of definitive transaction agreements are e... [Full Article...]

Baidu's self-driving bus begins mass production

Baidu's self-driving bus begins mass production Baidu announced its plans at its annual AI conference, Baidu Create 2018, where 6,000 attendees watched the 100th bus roll off the production line in Xiamen. Apollo 3 .0 includes new software that supports valet parking, autonomous mini buses like Apolong, and autonomous microcars. Trials of the bus have been carried out in Fujian and Chongqing Municipality. [Full Article...]

Canada not helping itself by hitting U.S. with tariffs-White House

Canada not helping itself by hitting U.S. with tariffs-White House That comment seemed to refer less to the US elections and more to the vote on Sunday that's expected to sweep Andres Manuel Lopez Obrador into power as Mexico's first leftist leader in decades - certainly an "interesting" outcome for Trump and others. [Full Article...]

Peoples Bank of China officials verbally prop up yuan amid trade tensions

Peoples Bank of China officials verbally prop up yuan amid trade tensions By the midday trading break on Monday, the blue chip CSI300 index.CSI300 was down 1.4 percent, while the Shanghai Composite Index.SSEC fell 1.1 percent. "Both the euro and the dollar benefit because both are seen as safe havens". The mood was more cheerful in Europe where a pan-European equity index rose half a percent .STOXX , the euro firmed marginally and bond yields rose after German Chancel... [Full Article...]

Oil inches up on tighter United States supply, looming Iran sanctions

Oil inches up on tighter United States supply, looming Iran sanctions Brent for September settlement advanced 46 cents to end the session at US$77.76 a barrel on the London-based ICE Futures Europe exchange. Iran's representative to OPEC says U.S. OPEC together with a group of non-OPEC producers led by Russian Federation started to withhold output in 2017 to prop up the market. The oil market has been supported by a fall in output from Venezuela and the pote... [Full Article...]

US Moves To Reduce Iran's Oil Revenue To Zero

US Moves To Reduce Iran's Oil Revenue To Zero The State Department is suggesting some countries continuing to import Iranian oil could avoid sanctions after restrictions are set to be re-imposed in November. "And I have a very good relationship with the (Saudi) king and with the crown prince of Saudi Arabia and with the others around and they are going to have to put out more oil ". [Full Article...]

Coinbase Custody Is Now Available in Both US and Europe

Coinbase Custody Is Now Available in Both US and Europe With more cryptocurrencies on board, Coinbase is targeting locations other than Europe and the U.S.A, and are likely to move towards Asia. After accepting its first trial deposit last week, the newly introduced custodial service is up and running. [Full Article...]

Trump looks to ban China Mobile from U.S. market over security concerns

Trump looks to ban China Mobile from U.S. market over security concerns The NTIA's decision came amid escalated tensions between Washington and Beijing with only three days remaining for the first wave of tariffs by the U.S. Phone calls or other communications from USA government agencies to global destinations could pass through China Mobile's network, even if the agencies are not customers of the operator, according to the filing. [Full Article...]


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