Markets
Merkel accepts CSU deadline for European Union migration deal
Seehofer, who heads one of three parties in Merkel's coalition, defied the chancellor with plans to order migrants turned away from Germany's borders as soon as Monday. German Chancellor Angela Merkel's future in charge is reportedly under threat from her coalition partner, which has given her two weeks to turn away refugees from the country's borders. [Full Article...]
Dollar, yuan recoil as U.S.-China trade row intensifies, yen gains
The US "practice of extreme pressure and blackmail departed from the consensus reached by both sides during multiple negotiations and has also greatly disappointed worldwide society", China's commerce ministry said in a statement on its website. [Full Article...]
VW names Bram Schot as interim Audi CEO
Stadler is the highest-ranking Volkswagen executive to be taken into custody over the scandal. Stadler has been detained as part of a probe into emissions cheating by the company. Munich prosecutors are questioning Stadler during what is called "investigative detention", and the VW board will meet today to discuss the development. [Full Article...]
Could China turn to Iran oil? Former Exxon president weighs in
According to the EIA, U.S. crude inventories fell by 5.9 million barrels in the week-ending June 15, traders were looking for a draw of 2.1 million barrels. sanctions on Iran and Venezuela that had fuelled fears of a supply crunch and put pressure on prices. OPEC, together with other key producers including Russian Federation, started withholding output in 2017 to prop up prices, but a tightenin... [Full Article...]
Mobile outages hit major Australian cities
Telstra's mobile network is reporting outages in cities across Australia, with customers affected by issues with 3G and 4G signals. "We apologise to these wholesale customers for any inconvenience", the spokesperson added. Millions of Australians were left without access to voice and internet services on their mobile phones during the outage. Telstra has dismissed earlier claims that there was a... [Full Article...]
Cost of some U.S. goods to rise by 25% on Friday
European Union countries retaliatory trade tariffs on a list of USA products, agreed in response to U.S. tariff hikes on steel and aluminium imports from Canada , the EU, and Mexico , will come into force on Friday, the European Commission announced on Wednesday. [Full Article...]
Arvind Subramanian Resigns As Chief Economic Advisor
Jaitley, who is now recuperating from a kidney ailment, said that he spoke to Subramanian over a video call and requested him to continue for some more time but due to certain pressing family commitments, he chose to quit. Arvind Subramanian had joined Chief Economic Advisor on October 16, 2014. Reportedly, he had participated in all the meeting conducted by the government during the process of im... [Full Article...]
Zuckerberg, Sandberg Donate To Campaign To Reunite Immigrant Families
In times when we often think that the news can't possibly get worse, it does - we learned last night that 2,000 children ( many of them infants and toddlers) have been separated from their parents in just six weeks under President Trump's " zero tolerance " policy". [Full Article...]