https://cdn.24.co.za/files/Cms/General/d/4603/884dc8025a5a4f7ebc49bd902ffed829.jpg

Markets

Saudi Arabia said Monday it had no plans to repeat its harsh 1973 oil embargo , even as relations with the West sour following the killing of Saudi critic Jamal Khashoggi . Oil prices spiked on the move, as they did later in 1979 because of the Iranian revolution. The pledge comes despite Saudi Arabia's previous threats to retaliate to any sanctions with "greater action".
  • Trump wants $200 billion in China tariffs despite talks, sources say

    Trump wants $200 billion in China tariffs despite talks, sources say

    Markets

    He also made it clear he was ready to impose tariffs worth $200 billion on goods "very soon" if President Xin Jinping's government refused to back down. "We share the concerns of the United States regarding China's trade and investment practices, but continuing along the path of tariff escalation is extremely risky", warned Harborn.
  • Trump Makes False GDP Claim, Reports 'Fox Business'

    Trump Makes False GDP Claim, Reports 'Fox Business'

    Markets

    Gross domestic product increased at a 4.2 annualized rate in the second quarter of 2018, and the unemployment rate was 3.9 percent in April, 3.8 percent in May and 4.0 percent in June. Administration officials rarely contradict the president in public and nearly never from behind the podium, well aware that Trump prizes loyalty above all else in his employees.
  • Freeland, Lighthizer to meet on NAFTA after long night for negotiators

    Freeland, Lighthizer to meet on NAFTA after long night for negotiators

    Markets

    Dawson said Canada has also looked at other policy instruments to protect Canadian cultural industries, such as the deal Ottawa did with Netflix to develop Canadian content. He told an Alberta radio station that Canada would insist on keeping a NAFTA provision for settling disputes "because that ensures that the rules are actually followed".
  • Billionaire internet entrepreneur arrested for sexual misconduct

    Billionaire internet entrepreneur arrested for sexual misconduct

    Markets

    Investors flinched slightly at the news Friday of Liu's arrest , but JD.com stock value had rebounded by the end of the day. The #MeToo movement that has highlighted sexual misconduct has derailed the careers of well known entertainers, corporate executives and politicians in the United States and other countries, and has begun to find traction in China too.
  • USA ratchets up pressure on Canada, Mexico, trade partners

    USA ratchets up pressure on Canada, Mexico, trade partners

    Markets

    Foreign Affairs Minister Chrystia Freeland gave a cold shoulder to U.S. President Donald Trump and cozied up instead to her American trade counterpart Friday as Canada's effort to re-enter the North American free-trade fold fell short of meeting its end-of-week deadline.
  • Trump nixes federal pay raise

    Trump nixes federal pay raise

    Markets

    In his letter, Trump said federal pay would have automatically risen by 2.1 percent next year. The raise came as part of a $716 billion defense spending bill that Trump signed earlier this month. Trump cited the "significant" cost of employing federal workers as justification for denying the pay increases, and called for federal worker pay to be based on performance and structured toward recruiting, retaining and rewarding "high-performing Federal employees and those with critical skill sets".
  • Tesla forms three-member panel to decide on any Musk proposal

    Tesla forms three-member panel to decide on any Musk proposal

    Markets

    The SEC has asked Tesla for more details about Musk's tweets and proof that he has secured the necessary funding for the transaction. Bloomberg had reported earlier on Tuesday that Goldman was not tapped as an adviser when Musk revealed the go-private plans last week.
  • It's time to take away Trump's tariff toys

    It's time to take away Trump's tariff toys

    Markets

    The Turkish lira plummeted against the dollar Friday, dropping by more than 13 percent. "The situation of Turkey can not go on for much longer - I think they will have to intervene", Cristian Maggio, head of emerging markets strategy at TD Securities, adding that the intervention needed to be "drastic".