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Economy

Automakers are investing heavily to develop models to appeal to local customers. Tesla Motors announces a new Technology Innovation Center in Beijing on July 12 as CEO Elon Musk concludes his three-day trip in China. Tesla did not immediately respond to a request for comment, but the company has previously denied Tripp's allegations about its production process and communications with investors.
  • Anonymous man buys $1 million worth of Toys 'R' Us inventory

    Anonymous man buys $1 million worth of Toys 'R' Us inventory

    Economy

    A lot of kids are really probably shopping online Amazon a place like that, but there's something special about going to a store like Toys "R" Us", said Dale Shough, a customer. After the sad photo of Geoffrey went viral, the San Antonio Zoo set up a GoFundMe page to raise $100,000 with the goal to "persuade the owners at Toys " R " Us to join the effort to save giraffes by donating the use of their most recognizable intellectual property", their beloved mascot.
  • ‘Death to Palestine’ chants erupt at Iranian economic protests

    ‘Death to Palestine’ chants erupt at Iranian economic protests

    Economy

    The economic trouble also comes as worldwide firms have pulled away from Iran after President Donald Trump's decision to withdraw America from Tehran's nuclear deal with world powers. "The current situation, particularly on the economic level, requires more coordination among parties", state news agencies quoted parliament Speaker Ali Larijani as saying.
  • Trump threatens Harley-Davidson with tax

    Trump threatens Harley-Davidson with tax

    Economy

    To avoid paying a 31% tariff to ship motorcycles from the USA to the EU, Harley made a decision to move more production to its plants in places like Thailand and Brazil. Trump says he's getting other countries to reduce and eliminate tariffs and trade barriers, and open up closed markets. Meanwhile, in order to intensify its sanctions against Iran , the United States has ruled out any exemption to India and Indian companies from carrying out any transactions with Iran.
  • Harley-Davidson to Outsource More US Manufacturing Jobs, Trump Calls Move 'Excuse'

    Harley-Davidson to Outsource More US Manufacturing Jobs, Trump Calls Move 'Excuse'

    Economy

    Trump, however, deflected blame today via a tweet, citing taxes as being nothing more than an excuse on the part of Harley Davidson . The moves have raised the spectre of a full-blown trade war as the Trump administration pursues a protectionist tack with both allies, including the European Union , Canada and Mexico, and rivals, such as China.
  • With Quill Protection Gone, What Should Online Sellers Do?

    With Quill Protection Gone, What Should Online Sellers Do?

    Economy

    The court's decision says states can force companies to collect sales tax for online sales . Bridgett Lambert, the executive director of the West Virginia Retailers Association, said she was not sure if Justice understands the impact of the ruling .
  • Online Retailers Lose State Tax Subsidy

    Online Retailers Lose State Tax Subsidy

    Economy

    When we asked him if sellers must immediately begin collecting sales tax for all states and all localities, he said no, "but it does mean that sellers need to start preparing for a sea change in their compliance obligations". "It is going to squash the entrepreneurship, I just can not stress that enough", Christy Keyon, who owns Bird and Bean Coffee House and Naomi and Olive Gift shop said.
  • Canada just legalized weed, and it's looking better every day

    Canada just legalized weed, and it's looking better every day

    Economy

    As a result, the attempts to legalize cannibas for recreational use have caused Canadian marijuana companies like Canopy Growth Corp., Aphria Inc., and Aurora Cannabis Inc.to become the center of investor frenzy. Last week, we published a blog post regarding a proposed bill in the United States Senate that would provide more autonomy to individual States in regulating marijuana .
  • After India, now European Union slaps additional tariffs on the US

    After India, now European Union slaps additional tariffs on the US

    Economy

    The world's most-powerful central bankers this week warned that escalating worldwide trade tensions have started damaging confidence among companies, threatening the global economic expansion. The White House last week announced plans to slap 25 percent tariffs on 1,100 Chinese goods, worth $50 billion in imports. "He's right, we make great cars in the United States".
  • Trump Says OPEC To Blame For High Oil Prices

    Trump Says OPEC To Blame For High Oil Prices

    Economy

    There is a risk that traders are expecting a little bit too much heading into the meeting and could reshuffle their positions upon speculation that OPEC will not increase production to the amount now being priced in by the market between 500,000 to 1 million barrels a day.
  • Trump Moves to Retaliate Against China's Retaliation for New Tariffs

    Trump Moves to Retaliate Against China's Retaliation for New Tariffs

    Economy

    The US dollar fell 0.75 percent to ¥109.715 following Trump's tariff comments. It showed a willingness to do that to South Korean businesses past year during a period of tension between the two Asian countries. On Friday, the United States made a decision to impose 25% tariffs on $50bn of Chinese products. The first round is to take effect on July 6. Trump has tried to throw a lifeline to ZTE, which has been struggling to survive under USA sanctions.
  • Merkel, allies avert collision for now in German migrant conflict

    Merkel, allies avert collision for now in German migrant conflict

    Economy

    Interior Minister Horst Seehofer is calling for Germany to turn back at its border migrants who have registered as asylum-seekers in other European countries. But just last month, Germany's Interior Minister Horst Seehofer released statistics showing that crime is at its lowest level in more than two and a half decades.
  • Minimum wage doesn't cover the rent anywhere in the U.S.

    Minimum wage doesn't cover the rent anywhere in the U.S.

    Economy

    These are the findings of the National Low Income Housing Coalition's 2018 Out of Reach Report , which was released this week. Low-wage workers have recently seen modest wage growth as the economy has improved, according to the report , but wages still remain too low for many workers to afford rental homes at the fair market rents.
  • Elon Musk, Boring Company to negotiate with Chicago for Loop train system

    Elon Musk, Boring Company to negotiate with Chicago for Loop train system

    Economy

    Chicago's Mayor Rahm Emanuel said Chicago bet on Musk's record as a founder who has built Tesla and SpaceX-the first private company to send a spacecraft to the International Space Station. Chicago is bearing no financial responsibility for the project, Emanuel said. No opening day for the Chicago Express Loop was offered. The tunnels may end up belonging to the city, with a long-term lease assigned to Musk's company.
  • Pompeo tries to reassure North Korea about denuclearization

    Pompeo tries to reassure North Korea about denuclearization

    Economy

    The paper also published more than a dozen photographs of Kim, including ones of him shaking hands with North Korean and Singapore officials and posing by the Air China jet that he traveled in. Why only potentially? That's because these two world leaders are not, strictly speaking, known to be very diplomatic - that is to say that they are in no manner of speaking, known to be very diplomatic at all.
  • Wilbur Ross says Trump administration has reached

    Wilbur Ross says Trump administration has reached "definitive agreement" with ZTE

    Economy

    Trump barged into the ZTE case last month by tweeting that he was working with President Xi Jinping to put ZTE "back in business, fast" and save tens of thousands of Chinese jobs. ZTE at the time said it would discipline the executives involved, but this year the Commerce Department learned that four of those people stayed at ZTE, and received bonuses.