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The latest trade agreement, with the United States and Mexico, continues tariffs the USA imposed last spring on Canadian steel and aluminum, prompting the industry to criticize the government for selling out the sector. "I'm always leery at predictions of all of the sudden a Niagara Falls shows up next to Lordstown and starts spitting cash out", Hill said . "We were hoping that times were going to get better", Maxwell said.
  • GE Stock Soars After CEO John Flannery Unexpectedly Ousted

    GE Stock Soars After CEO John Flannery Unexpectedly Ousted

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    Flannery on the same day said that GE might take the radical step of splitting up the main company's three main components - aviation, health care and power - into separate businesses. GE had fallen 35 percent this year through September 28, following a 45 per cent decline in 2017. So, by putting an end to Flannery's almost 2 year tennure at the company and bringing a trusted leader on board to replace him, the company has excited investors.
  • California passes net neutrality law, Trump administration sues

    California passes net neutrality law, Trump administration sues

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    As a result, the Trump administration wants to make an example of California. He added, "once again the California legislature has enacted an extreme and illegal state law attempting to frustrate federal policy". A number of other USA states would also like to implement their own rules to protect net neutrality, although the FCC's decision clearly forbids such moves.
  • Tweet storm: Musk quits as chairman over false claims

    Tweet storm: Musk quits as chairman over false claims

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    Under the settlement announced at the weekend, Tesla and Musk will pay $20 million each to the regulator and Musk will step down as chairman but stay as CEO , leaving in place one of America's best-known corporate figures. The company's shares surged 16 percent in pre-market trading on Monday following the decision. In order to avoid similar inconvenience in the future, the company will also hire a lawyer that will not only monitor the communication of Musk but also oversee his tweets.
  • Google's YouTube Said to Be Hosting Videos on 'How to Hack Facebook'

    Google's YouTube Said to Be Hosting Videos on 'How to Hack Facebook'

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    Recent college graduate Dahiana Fernandez has had Facebook for years. Facebook said it logged out around 90m users as a safety precaution, while around 50m were believed to be affected . The company has also reset the access tokens of the 50 million accounts that were known to have been breached, as well as 40 million accounts that have been subject to a "View As" look-up in the previous year, as a precaution.
  • Elon Musk’s

    Elon Musk’s "Funding Secured" Tweet Just Cost Him & Tesla $40 Million

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    In any case, the $40 million, which will be distributed to harmed shareholders after a court-approved process, are but a very small fraction of the more than $7 billion lost due to the whole debacle. Musk, a co-founder of Tesla , is the company's largest stockholder, owning approximately 22 per cent of its outstanding shares. The SEC's lawsuit charged that the tweet, which caused Tesla's shares to jump, was misleading because he did not actually have the funding lined up for such a move.
  • US, Canada And Mexico Agree New Trilateral Trade Deal To Replace NAFTA

    US, Canada And Mexico Agree New Trilateral Trade Deal To Replace NAFTA

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    President Donald Trump (L) announces a deal to replace the North American Free Trade Agreement ( NAFTA ) at the White House in Washington , Aug. 27, 2018. Ottawa and Washington remained at odds over Canada's subsidized dairy sector, and the dispute resolution provisions in NAFTA. "It's a good day for Canada", said Prime Minister Justin Trudeau as the meeting wrapped up just over an hour after it started.
  • HSBC Raises Hong Kong Lending Rate for First Time in 12 Years

    HSBC Raises Hong Kong Lending Rate for First Time in 12 Years

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    ASIAN markets swung on Thursday as investors considered the prospect of more United States interest rate hikes and Donald Trump's latest broadside in his trade war with China . economy and jobs market. The Hong Kong Monetary Authority (HKMA) raised the base lending rate in lockstep with a widely expected move by the U.S.
  • Mexico trade deal text to exclude Canada, irritating U.S. lawmakers

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    The release of the trade deal text starts a months-long process for US congressional approval that will require a lengthy analysis by the independent USA global Trade Commission and notification periods before an up-or-down vote. "In the next 48 hours we will know if we are going to get to a trilateral text or if we are going to have to put forward the text of the bilateral agreement", Guajardo said in televised remarks to the Mexican Senate.
  • Tesla stock dives on heels of SEC lawsuit

    Tesla stock dives on heels of SEC lawsuit

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    Tesla shares have been volatile for years, but even by its standards, August and September have been dramatic. For the billionaire entrepreneur, it was the latest self-inflicted wound from a series of vehicle crashes that have battered Tesla's share price and Musk's reputation.
  • Fed raises interest rates for third time in 2018, citing job growth

    Fed raises interest rates for third time in 2018, citing job growth

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    If the Fed finds that prospect likely, it might signal Wednesday that it expects to slow its rate increases next year. In a statement after its latest policy meeting, the Fed dropped phrasing it had long used that characterized its policy as "accommodative" - that is, favoring low rates.
  • U.S. SEC sues Tesla CEO Elon Musk, alleges fraud over tweets

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    Thursday's lawsuit makes Musk one of the highest-profile executives to be accused by the SEC of securities fraud. Grundfest said that whether Musk can stay on as CEO is "almost entirely up to Elon" and whether he is able to negotiate a settlement with the SEC.
  • US will not tap oil reserve as Iran sanctions loom: Perry

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    Patterson said . Washington wants to reduce Iran's oil exports effectively to zero and has threatened sanctions against any country that buys Iranian oil. The United States also imposed sanctions on OPEC oil producer Venezuela. Then, yesterday he told the United Nations General Assembly that the Organization of the Petroleum Exporting Countries is " ripping off the rest of the world " by pushing up prices.
  • European Union trade chief defends Freeland after Trump trash-talks 'Canada's negotiator'

    European Union trade chief defends Freeland after Trump trash-talks 'Canada's negotiator'

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    Mr Trump's comments were made as Nafta talks continue to drag on. President Trump says he has a plan for peace in the Middle East, and he's finally revealed a glimpse of what it might look like. Trump has previously floated the idea of striking two separate bilateral trade deals with the NAFTA partners. Canada's dairy market has remained largely closed to the United States ever since American dairy farmers were caught excessively dumping products inside of Canada's markets several decades ...
  • Tesla CEO Elon Musk's latest insane scheme to meet production targets

    Tesla CEO Elon Musk's latest insane scheme to meet production targets

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    According to Automotive News , volunteers are answering questions from buyers picking up their new vehicles "whom Tesla staff are too busy to handle". Omar Sultan, a true believer from California, helped at the store in Rocklin. It has hit and passed that target, which is among the reasons it can not get some Model 3 vehicles to customers.
  • Ahead of United States sanctions, India looks beyond Iran for oil imports

    Ahead of United States sanctions, India looks beyond Iran for oil imports

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    Ben Luckock, the co-head of oil trading at Trafigura, a fellow merchant. echoed Mr. Jaeggi, sating that by Christmas the price of crude oil go up to $90 per barrel. Iranian oil exports are declining ahead of a second round of US sanctions to be imposed on November 4 and Iran's economy is likely to contract 3 percent this year and 4 percent in 2019, the Institute of International Finance said on Tuesday.
  • Trump Says He's 'Not Happy' About Fed's Interest Rate Increase

    Trump Says He's 'Not Happy' About Fed's Interest Rate Increase

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    Those show that the Fed's policymakers think it will raise rates five more times by the end of 2020, which bring rates up to a range of 3.25 to 4.25 percent. "I'd rather pay down debt or do other things, create more jobs ". Wednesday's rate increase once again drew criticism from President Donald Trump , who has complained that the Fed's actions are countering his efforts to boost the economy.
  • US, Mexico May Proceed Without Canada — NAFTA Talks

    US, Mexico May Proceed Without Canada — NAFTA Talks

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    And I've told him, forget about it". WASHINGTON-A trade deal with the United States would not be useful if it did not include protection from possible future tariffs from President Donald Trump , Canada's ambassador to the US said on Wednesday.
  • US, Mexico ready to sign new NAFTA without Canada

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    In recent days, officials have issued a series of increasingly pessimistic assessments of the chances of including Canada in the trade deal with Mexico , which was finalized last month. Without directly mentioning the ongoing NAFTA negotiations with Canada, Mr. Trump doubled down on his America First approach, rejected globalism and demanded respect for USA sovereignty.
  • Trudeau says Canada won’t be rushed on NAFTA

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    The timeline is important because current Mexican President Enrique Pena Nieto wants to sign the deal before he's succeeded by Andres Manuel Lopez Obrador in December, Lighthizer said. Some have warned that U.S. trade law won't allow a November 30 vote on a U.S. -Mexico deal, because the Trump administration began the process seeking a trilateral one.
  • Iran says Trump is why oil prices are now so high

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    Brent for November traded at $82.03 a barrel, up 16c, on the ICE Futures Europe exchange at 15:59 in Tokyo , after settling Tuesday at the highest level in nearly four years. The bank's analysts said in a note Tuesday that "another supply catalyst beyond Iran would likely be needed for prices to meaningfully break to the upside".
  • Super Canada Brexit deal ‘would not be atrocious’

    Super Canada Brexit deal ‘would not be atrocious’

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    Subsequently on Monday, free-market think tank the Institute of Economic Affairs (IEA) unveiled an alternative Brexit plan to Chequers, which has been backed by leading Brexiteers David Davis, Boris Johnson and Jacob Rees-Mogg. "We'll keep negotiating in good faith, I'm confident we'll get there". "She said that there is no future relationship that will prevent a hard border between Ireland and Northern Ireland, maintain the constitutional integrity of the United Kingdom and respect the ...
  • OPEC, Russia rebuff Trump's call for immediate boost to oil output

    OPEC, Russia rebuff Trump's call for immediate boost to oil output

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    The International Energy Agency forecast strong oil demand growth of 1.4 million barrels per day (bpd) this year and 1.5 million bpd in 2019, and said in its most recent report the market was tightening. "It is critical that we continue to foresee and anticipate changing market supply and demand balances and take proactive actions to avoid conditions that could make (oil) consumers uneasy and anxious", he added.
  • Trump urges Iran’s isolation, praises Kim in combative UN address

    Trump urges Iran’s isolation, praises Kim in combative UN address

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    Speaking at his once-a-year speech at the UN General Assembly , Mr Trump bragged that his administration "had accomplished more than any other administration in history". The president blasted OPEC for high oil prices, announced new sanctions against Venezuela, and warned the USA will withhold aid from countries that challenge his agenda.