Markets
Saudi Arabia hints at renewed race for oil market share
The economic crisis in Venezuela has crippled the nation's oil output while US sanctions threaten to cut Iranian oil exports. "Expect more of the same whippy markets driven by rumours and innuendo ahead of the June 22 Vienna OPEC meeting", Innes said. [Full Article...]
Saudi crown prince arrives in Russian Federation for World Cup opener against Russian Federation
Morocco have bid five times now and they have been overlooked each time. Mexico played host to the 1970 and 1986 World Cup . Both bids were of a very high quality and we welcome the fact that the bidding process was both open and transparent. [Full Article...]
Whole Foods Launches Free Two-Hour Delivery Service in Boston
Watch out, Instacart: Whole Foods is coming. Amazon's $13.7 billion acquisition of Whole Foods Market previous year resulted in the launch of a free two-hour delivery of natural and organic products through Prime Now in February. Bestsellers include thousands of items, including "fresh produce, high-quality meat and seafood, everyday staples and other locally sourced items from Whole Foods Mar... [Full Article...]
Minimum wage doesn't cover the rent anywhere in the U.S.
The minimum wage in Arkansas is $8.50 an hour. About a third of households in Charlotte are cost-burdened, and the biggest shortage is for people making 50 percent or less of the area's median income - roughly $36,000 or below. "That leaves precious little for other essentials". One would need to earn $13.84 an hour - about $29,000 a year - to afford a two-bedroom apartment there. [Full Article...]
Musk's Boring Company wins bid to build high-speed system in Chicago
There was no immediate statement from the City of Chicago. The deal comes about a month after Musk unveiled a plan to burrow a high-speed network of "personalized mass transit" tunnels under Los Angeles that he said could be built without disturbance or noise at the surface. [Full Article...]
British engine maker Rolls-Royce cutting 4,600 jobs
The cuts announced Thursday, which represent 8.4% of the company's 55,000 workforce, will be implemented out over the next 24 months, the company said. Speaking to the BBC, East said he saw opportunities in China. Rolls said the latest round of restructuring was expected to cost the group £500 million. [Full Article...]
Inflation static at 2.4% despite higher fuel costs
According to the NBS report, core inflation stood at 10.7% and decreased by 0.2% in the month of May from the 10.9% recorded in April. As per the data of the Central Statistics Office (CSO), food inflation rose to 3.10% last month, as against 2.8% in April. [Full Article...]
VW hit with $1.2B fine in Germany for emissions cheat
Earlier this week, Reuters reported that the Munich public prosecutor's office had searched the resepctive properties of Audi CEO Rupert Stadler and one other Volkswagen board member. The €1bn fine does, however, end regulatory offence proceedings against VW, which the Wolfsburg-based carmaker said it assumed would help to settle further administrative proceedings against it in Europe. [Full Article...]