Markets
Volkswagen not interested in buying Tesla stake
Diess meets Tesla CEO Elon Musk on a regular basis, Manager Magazin said , adding the U.S. electric carmaker has so far rebuffed efforts at striking an alliance. An unnamed high-level source said Diess would love to purchase the company outright, but believes it would be impossible to obtain the €27 billion ($44.2 billion) necessary to fund such a transaction. [Full Article...]
Pembina to buy Kinder Morgan's oil assets for $3.3 billion
The institutional investor acquired 324,749 shares of the pipeline company's stock, valued at approximately $6,781,000. Investigating the productivity proportions of Kinder Morgan, Inc . The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website . Analysts said the purchase of Kinder Morgan's Canadian oil storage tanks in Edmonton, in partic... [Full Article...]
China confirms new tariffs on U.S. goods
And $300 billion in goods being hit with a 10 per cent tariff staring September 1 will now be hit with a 15 per cent tariff, Trump Tweeted . "China's decision to implement additional tariffs was forced by the US's unilateralism and protectionism", China's Commerce Ministry said in a statement, adding that its retaliatory tariffs would also take effect in two stages on September 1 and December 1... [Full Article...]
Trump's new plan to fight opioid overdose? This tweet
In an interview on CNBC , Federal Reserve Bank of Cleveland President Loretta Mester said she viewed the Chinese retaliatory tariffs as "just a continuation" of the aggravated trade policy uncertainty that has begun weighing on USA business investment and sentiment. [Full Article...]
Gold prices stable; all eyes on Fed summit for rate-cut direction
Minutes from the Federal Open Market Committee's most recent meeting in July - when the U.S. central bank cut interest rates for the first time since the 2008 financial crisis - are due on Wednesday. Reduced UNITED STATE rate of interest tax the buck and bond returns, enhancing the allure of non-yielding bullion. Traders attributed the gain in gold to increase in the domestic spot market demand. [Full Article...]
Representative Seth Moulton ends bid for Democratic presidential nomination
Without appearing in those nationally televised events, he had little hope of gaining traction. He joins Washington Gov. Jay Inslee in exiting the presidential race this week. Moulton suggested that most of the other Democratic candidates were also laboring in vain at this point, with only a tiny few - Biden and Sens. First elected to the House in 2014, Moulton made a name for himself as an insu... [Full Article...]
Trump takes aim at automakers that ignored his emissions proposal
President Trump slammed "politically correct" automakers Opens a New Window. on Wednesday, defending his plan to roll back Obama-era carbon emissions standards. Even so, Trump attacked them on Wednesday night, writing: "The Legendary Henry Ford and Alfred P. Sloan, the Founders of Ford Motor Company and General Motors, are 'rolling over" at the weakness of current auto company executives willing... [Full Article...]
Centre announces capital infusion of Rs 70,000 crore to public sector banks
India said Friday it would pump in almost 10 billion dollars into government banks to ease a liquidity crunch in Asia's third-largest economy, as it goes through its worst slowdown in five years. "NBFC need not ask for one more time proving and repeating the process". Not only this, all future GST refunds will be settled in 60 days for SMEs, so that small businesses do not have to worry about ... [Full Article...]