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Business

US light crude CLc1 settled down $1.78, or 2.5 percent, at $68.59 a barrel. Oil prices fell on Thursday, reversing some of the strong gains from the previous session, as economic concerns raised doubts about ongoing fuel demand growth. This means there will be less strain on other producers in making up for supply losses from Venezuela and Iran as renewed US sanctions kick in. The sanctions will target Iran's oil exports from November.
  • Trump Hits Back on Union Leader in Labor Day Tweets

    Trump Hits Back on Union Leader in Labor Day Tweets

    Business

    With a pledge to resume talks next week, Freeland spoke of progress, of optimism and of her determination to get a deal that's good for Canadians - a remarkable show of restraint on a day that began with another blast of now-familiar Trump bombast that landed like an anvil on the negotiating table.
  • China hosts African leaders amid aid criticism

    China hosts African leaders amid aid criticism

    Business

    The summit themed " China and Africa: Towards an Even Stronger Community with a Shared Future through Win-Win Cooperation", is meant to link the Belt and Road Initiative with the United Nations 2030 Agenda for Sustainable Development, the AU's Agenda 2063 and individual countries' development plans.
  • Freeland heads to Washington to rejoin high-stakes NAFTA negotiations

    Freeland heads to Washington to rejoin high-stakes NAFTA negotiations

    Business

    Lighthizer told reporters in a call that the agreement with Mexico provided the "highest standards" of any existing agreement on digital trade, financial services and labor rights. "But I think we'll give them a chance to probably have a separate deal". "There is a possibility of getting to a good deal for Canada by Friday", Trudeau said.
  • Toyota to invest $500m in Uber at $72b valuation

    Toyota to invest $500m in Uber at $72b valuation

    Business

    This would certainly be a smart move on Uber's part - the company has been at the center of quite a bit of controversy following a fatal crash involving one of the company's autonomous vehicles back in March. In March, one of the company's self-driving test vehicles ran down a pedestrian on a dark street in Tempe, Arizona. The combined technology will be built into Toyota's Sienna minivans, to be deployed on Uber's ride-hailing network starting in 2021, Uber said .
  • US, Mexico reach Nafta deal as pressure turns to Canada

    US, Mexico reach Nafta deal as pressure turns to Canada

    Business

    That deal, Trump said , will benefit farmers. Details of gains and concessions in the deal were only starting to emerge on Monday. The president added that the USA could further tax vehicle imports from Canada in response to a 300 percent Canadian tariff on American dairy products.
  • Kudlow says Trump will force Canada’s hand on trade, here’s how

    Kudlow says Trump will force Canada’s hand on trade, here’s how

    Business

    The president also suggested he might leave Canada out of the new agreement - which would be called the "United States-Mexico Trade Agreement". When the reality show spectacle of Trump's Oval Office phone call with Pena Nieto had subsided, senior US officials briefed journalists on a conference call.
  • NAFTA talks with USA 'very far' along: Mexico's Guajardo

    NAFTA talks with USA 'very far' along: Mexico's Guajardo

    Business

    On Saturday, he said the US "relationship with Mexico is getting closer by the hour" in a tweet that made no mention of Canada . Mexico's president-elect also said that bilateral talks on renegotiating the North American Free Trade Agreement "are on a good track".
  • Google Pixel 3 XL shown off in new hands on pics

    Google Pixel 3 XL shown off in new hands on pics

    Business

    Moving on to an image of the retail package of the Google Pixel 3 XL . The improvements that Google has made in the Pixel 3 XL are all about simple user experience, not actually addressing the concerns of folks who comment on leak stories on the internet.
  • Another Tampa Sears location to close doors

    Another Tampa Sears location to close doors

    Business

    That included a location at Citrus Park Town Center and a Kmart on East Busch Boulevard. This follows the shutdown of 103 stores earlier this year and over 300 last year . A media release said the stores were "unprofitable". The Sears located at Washington Square Mall is unaffected. The move is "part of our ongoing efforts to streamline Sears Holdings' operations, strengthen our capital position and focus on our best stores", Sears said on its website.
  • United States sanctions Russian firms, vessels over NK activity

    United States sanctions Russian firms, vessels over NK activity

    Business

    The June sanctions were a response to cyberattacks, including last year's NotPetya attack, as well as intrusions into the USA energy grid and global network infrastructure. The United States and Russian Federation have been levying sanctions against each other as bilateral relations continue to worsen. "Today the United Kingdom asks its allies to go further by calling on the European Union to ensure its sanctions against Russian Federation are comprehensive, and that we truly stand ...
  • Actions better than words, says Russian Federation after Trump offer

    Actions better than words, says Russian Federation after Trump offer

    Business

    Moscow supported an Afghan government offer of a three-month ceasefire, and regretted that the Taliban rejected the offer on Monday, the ministry said. At the same time, U.S. President Donald Trump has repeatedly cast doubt on assertions that Russian Federation sought to meddle in the U.S. election, taking to social media to dismiss an investigation into Russia's actions as a "rigged witch hunt".
  • What Would Happen if the SEC Abandoned Quarterly Earnings Reports

    What Would Happen if the SEC Abandoned Quarterly Earnings Reports

    Business

    The commander in chief's sentiments stirred up an ongoing debate, which has seen leaders of publicly traded firms, on one side, complain of the pressures - stoked by quarterly earnings releases and conferences calls - to meet short-term goals at the expense of long-term stability.
  • Crude oil futures higher on expected stock draw, OPEC report

    Crude oil futures higher on expected stock draw, OPEC report

    Business

    The organization reviewed its 2018 forecast and increased production by 1.64 million barrels per day (Mmbdp), to reach an average of 98.83 Mmbpd. June's OPEC meeting ended with a commitment for just under 1 million b/d of increased output, supported by Saudi Arabia and Russian Federation.
  • Why Turkey's currency is plunging and what it means

    Why Turkey's currency is plunging and what it means

    Business

    President Recep Tayyip Erdogan vowed on Saturday to defy U.S. "threats" over a detained pastor, showing no signs of concessions in a bitter row that has caused the Turkish lira to crash. Erdogan has cast the recent slide in the lira as a war and without naming countries said supporters of a failed military coup two years ago, which Ankara says was organized by a USA -based Muslim cleric, were attacking Turkey in new ways since his re-election two months ago.
  • Trump's latest trade tiff with China has Texans again bracing for pain

    Trump's latest trade tiff with China has Texans again bracing for pain

    Business

    China said it is targeting 333 products, including crude oil, coal, diesel, cars, bicycles, medical equipment, steel products, scrap metals and waste paper, as well as fish meal. The markets will turn weaker if the tariff damage starts to show up in USA inventories numbers, but since Chinese refiners had been limited buyers since early July, it may not show up in the numbers for weeks.
  • Snapchat stock pops despite drop of 3 million users

    Snapchat stock pops despite drop of 3 million users

    Business

    The overhaul of the once fast-growing app turned some users away, and more people are flocking to Facebook Inc.'s Instagram, which has successfully copied Snap's most popular features. Snap said Tuesday that third-quarter revenue would be $265 million to $290 million. His investment comes about three years after he met Snap chief executive Evan Spiegel and chief strategy officer Imran Khan, when the two executives visited Saudi capital Riyadh.