Markets
Remainder of bourbon warehouse collapses
Half of a seven-storey rackhouse at the Barton 1792 Distillery in Bardstown, Kentucky, collapsed on Wednesday, after the first half toppled on June 22, the Kentucky Standard reported. Warehouse 30 at the Barton 1792 Distillery, located in Bardstown, was undergoing a wall fix when one side of it first gave out on June 22, dumping the contents of 9,000 barrels of bourbon into two nearby creeks. [Full Article...]
US job growth seen strong in June, wages picking up
The report showed that Canada's trade surplus with the USA narrowed to $3.3 billion in May, from $3.7 billion April, as more imports headed north across the border and south-bound exports decreased. The figure for aircraft imports more than tripled to $937 million due to the purchase of several air liners from the U.S. Exports declined mostly because of weaker trade on motor vehicles and parts a... [Full Article...]
Singapore watchdog says Grab-Uber deal hurts competition, proposes fines
It has also issued a Proposed Infringement Decision against the transaction. The commission said today it proposed the fines because Uber and Grab carried out the transaction despite having anticipated potential competition concerns, leading to lesser competition in the sector in Singapore. [Full Article...]
Tesla Achieves Q2 Production Goal for Model 3
Musk tweeted out on July 1 that the company managed to build 7,000 Model 3s in seven days, and the company said total production of the auto, nominally priced from $35,000, totaled 28,578 for the quarter or about three times the volume in the first quarter. [Full Article...]
Boeing taking over Embraer's commmercial jets in joint venture deal
Chief Executive Paulo Cesar Silva told employees in a note reviewed by Reuters that consolidation in the aerospace supply chain had also forced Embraer's hand. But Boeing would have operational and management control of the new company, which would report directly to Muilenburg. But Aboulafia was less certain about how much Embraer could contribute to Boeing's expected development effort for the... [Full Article...]
Baidu Builds 100th Autonomous Bus Ahead Of New Mobility Service Launch
Each bus can seat up to 14 passengers. Baidu is also partnering with SB Drive, a subsidiary of investment firm Softbank that develops autonomous vehicles for public transport, to roll out 10 buses across Japanese cities in 2019. The vehicle is classified as Level 4, the second most advanced level of driving automation on a scale of 6, according to the Society of Automotive Engineers. [Full Article...]
Ottawa eager to restart NAFTA talks, even if Trump’s in no rush
The winning candidate said he will make that proposal in a meeting Tuesday with current President Enrique Pena Nieto. "It's our chance to go and celebrate Independence Day with the Americans and demonstrate we're friends", said Bezan. "I certainly understand and sympathize with the Canadian position of Prime Minister Trudeau that if you are going to be faced with a unilateral set of tariffs bein... [Full Article...]
China's Currency Makes Round Trip as Trade War, Growth Concerns Whipsaw Market
The 3 percent drop in the yuan against the dollar over the past two weeks is in part a retracement of its outperformance from February to mid-June, the Morgan Stanley economists said. "Both the euro and the dollar benefit because both are seen as safe havens". "The big driver behind US resilience is that tech has been strong", said Rory McPherson, head of investment strategy at asset manager P... [Full Article...]