• Petrol prices start to fall after hitting four-year high in Australia

    Petrol prices start to fall after hitting four-year high in Australia

    Markets

    After the one paisa reduction in fuel prices on May 30, which caused much criticism from the Opposition, prices have since fallen continuously. The ACCC reports the increase in retail petrol prices since the March quarter 2018 has been influenced by a number of factors, including the agreements in late-2016 by the Organisation of Petroleum Exporting Countries (OPEC) cartel and some other producing countries to cut crude oil production.
  • Starbucks' Howard Schultz steps down as executive chairman

    Starbucks' Howard Schultz steps down as executive chairman

    Markets

    Still, the stock may be more volatile, especially around earnings results, as investors worry the company will struggle without its visionary founder, Yarbrough said . And now Shultz is finally leaving this other leading position. "There are no words to fully express our gratitude to Howard for the extraordinary company he has built", Johnson said in a statement.
  • Justin Trudeau: Donald Trump's comments on Canadian steel industry 'insulting'

    Justin Trudeau: Donald Trump's comments on Canadian steel industry 'insulting'

    Markets

    President Donald Trump is defending his tough trade negotiations with China , Canada and Mexico , saying that USA farmers have been treated "unfairly". Following President Donald Trump's decision to implement steep tariffs on Canada, Mexico, and the European Union, Sen. But Commerce Secretary Wilbur Ross said there was "no longer a very precise date" as to when talks would end and that the tariffs went into effect at midnight Thursday as a result.
  • Ahead of Ross visit, U.S. group calls on China to open markets

    Ahead of Ross visit, U.S. group calls on China to open markets

    Markets

    In turn, the renewed threats have some arguing that the ability of Beijing and Washington to continue to negotiate and American credibility is at stake. "Or it indicates an internal division [between the doves and the hawks], which Trump is finding hard to resolve". However, American companies have "major concerns" about unfair conditions, and the recent moves haven't done enough to alleviate those concerns, said the American chamber's Ross.
  • How Amazon plans to block Australians from using popular feature

    Markets

    The new tax rules were brought in after years of lobbying by struggling local retailers, which have to apply GST to all online and store sales. The online retail giant will direct Australian shoppers away from its United States and United Kingdom stores to its smaller local site from July 1 when the goods and service tax is extended to all imported e-commerce items.
  • Canada to buy Kinder Morgan pipeline project assets

    Canada to buy Kinder Morgan pipeline project assets

    Markets

    Gladu said it's particularly frustrating from Sarnia-Lambton's perspective after Ottawa denied funding for key projects. Canada loses $15 billion every year on the sale of oil because the US remains its only export customer, resulting in a lower price, Trudeau argues .
  • Fiat Chrysler slides after huge U.S

    Fiat Chrysler slides after huge U.S

    Markets

    FCA said it has no reports of crashes or injuries. "Once you are stopped, use the shifter and put the vehicle into Park", which will disengage cruise control. The problem was found in testing of the vehicles' computer network. Some markets outside the United States, including Canada and Mexico, are also affected, but the total number of vehicles involved globally is not known.
  • USA crude, gasoline inventories rise unexpectedly

    USA crude, gasoline inventories rise unexpectedly

    Markets

    Before the EIA report, benchmark West Texas Intermediate ( WTI ) crude for July delivery traded down about 0.2% at around $72.01 a barrel, and it dropped to around $71.30 (down about 1.2%) shortly after the report's release. Russia's oil tsar Alexander Novak said ministers from the OPEC cartel and other members of the production pact would discuss how much to increase production next month.
  • Senate votes to restore net neutrality; Bill goes on to House

    Senate votes to restore net neutrality; Bill goes on to House

    Markets

    Senate Minority Leader Chuck Schumer believes the vote will energize Democratic voters in the midterm elections and help the party capture seats now held by Republicans . "One of the first hearings will focus on competition and consumer protection implications of the FCC's restoring internet freedom order ". Senate Minority Leader Chuck Schumer, D-New York, has said that: "The Democratic position is very simple".