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Brussels imposed the raft of duties on U.S. products worth 2.8 billion euros (USD 3.3 billion) in a tit-for-tat response to Trump's decision to slap stiff tariffs on European steel and aluminium exports. It cut its 2018 profit forecast and German rival BMW said it was considering "possible strategic options" in light of the rising trade tensions between China and the United States.
  • China 'underestimated' Trump, a key adviser says

    China 'underestimated' Trump, a key adviser says

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    China is retaliating by raising import duties on $34 billion worth of American goods. "If the USA acts irrationally and issues a list, China will have no choice but to take comprehensive measures of a corresponding number and quality and take strong, powerful countermeasures".
  • China slams USA trade threats as 'blackmail', warns of countermeasures

    China slams USA trade threats as 'blackmail', warns of countermeasures

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    Trump said if China increases its tariffs again in response to the latest USA move, "we will meet that action by pursuing additional tariffs on another $200 billion of goods". Two decades ago, China's economy was largely fueled by exports, but it has made progress in rebalancing towards domestic investment and consumption since the global financial crisis erupted last decade - limiting the damage trade tariffs could inflict on Beijing .
  • Trump prepares to slam China with US$200 billion in new tariffs

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    He directed Trade Representative Robert Lighthizer to identify $200 billion worth of Chinese goods for additional 10% tariffs, which would be enacted "if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced".
  • Audi CEO Rupert Stadler arrested over Dieselgate

    Audi CEO Rupert Stadler arrested over Dieselgate

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    The directors of Audi and Volkswagen discussed how to run its more profitable division without Stadler, but failed to come to a conclusion, the carmaker said late on Monday. Munich prosecutors said in a statement that Stadler was detained out of concern that he would suppress evidence needed for their investigation.
  • Trump Imposes $50 Billion Tariffs On Chinese Goods, Trade War Looming

    Trump Imposes $50 Billion Tariffs On Chinese Goods, Trade War Looming

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    The statement also said China was not going forward with deals to buy more American goods. Indeed, the numbers appear identical. The official also said the U.S. "However, confronted by such short-sighted act that hurts both the USA itself and others", he said. "However, in the face of short-sighted behavior that the United States has done against people's disadvantages, the Chinese side has to give a strong blow back, resolutely safeguard national interests and the interests of the ...
  • Musk Calls for Paranoia After Fire Halts Tesla Assembly Line

    Musk Calls for Paranoia After Fire Halts Tesla Assembly Line

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    In various statements in public and recently to Tesla employees, Musk has said that he routinely lives around the clock at the manufacturing plant while the company tries to increase production of the Tesla Model 3, a mass-market sedan that now starts at $44,000.
  • Salmonella Outbreak Linked To Kellogg’s Honey Smacks Cereal — CDC

    Salmonella Outbreak Linked To Kellogg’s Honey Smacks Cereal — CDC

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    For the 15.3 oz boxes, the UPC code, which can be found at the bottom of the box, should read 38000 39103 whereas the 23.0 oz ones are 38000 14810. Don't eat the cereal, the CDC warned. The Division has initiated a recall notification and is working with local distributors and retail stores to determine the distribution the implicated products.
  • McDonald’s Switch to Recyclable Paper Straws

    McDonald’s Switch to Recyclable Paper Straws

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    The regional rollout begins in September. The company reportedly uses about 1.8 million straws a day in the United Kingdom , and it has committed to having 100 percent of its packaging come from "renewable, recycled, or certified" sources by 2025.
  • DOJ: Comey's handling of Clinton email investigation unconventional but not biased

    DOJ: Comey's handling of Clinton email investigation unconventional but not biased

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    The report also underscores efforts by senior FBI and Justice Department leaders in the final stages of the presidential race to juggle developments in the Clinton investigation - she had used private email for government business while secretary of state - with a separate probe into potential coordination between the Trump campaign and Russian Federation.
  • European Central Bank to end bond buying

    European Central Bank to end bond buying

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    The Dow Jones industrial average slipped 25.89, or 0.1 percent, to 25,175.31, and the Nasdaq composite rose 65.34, or 0.8 percent, to 7,761.04, a record. Despite warning that the single currency area was going through a soft patch, the European Central Bank said it would phase out its bond purchases over the next six months, reducing them from a current €30bn (£26.3bn) a month to €15bn after September and ending them completely after December.
  • Airline technical issue causes more than 100 flight cancellation

    Airline technical issue causes more than 100 flight cancellation

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    PSA Airlines is regional carrier for American Airlines . You can also track flights on GSP's website . "Unacceptable!" as passenger tweeted . "I've never seen it this bad", another passenger tweeted. The airline primarily operates regional flights using smaller jets. Several flights in an out of Norfolk and Newport News were impacted Friday. American Airlines sent a response to WBTV Thursday night when contacted for comment.
  • United States and China Officially in a Trade War over

    United States and China Officially in a Trade War over "Unfair Trade Practices"

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    Trump on Friday followed through on a pledge to crack down on what he considers to be unfair trade practices by China, imposing tariffs on goods that "contain industrially significant technologies". Trump said the tariffs would be imposed on a list of strategically important imports from China. "Beijing has a freer hand for informal retaliation, which will now start to increase ".
  • Donald Trump announces tariffs on US$50 billion of Chinese goods

    Donald Trump announces tariffs on US$50 billion of Chinese goods

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    China's Ministry of Commerce said the decision to impose tariffs meant "all previously agreed trade negotiation results are no longer valid". "This situation is no longer sustainable", he said. The tariffs will take effect within days. Certain American companies operating in China will be able to apply for exemptions but the process has not yet been detailed.
  • McDonald’s to switch to paper straws in U.K., Ireland

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    New England Patriots quarterback Tom Brady has also joined to movement, writing in a recent Instagram post that he's "out on single-use plastic straws". SeaWorld, Ikea and Royal Caribbean have already vowed to stop using plastic straws and bags. The move by McDonald's comes as plastic waste has come under fire globally, particularly for contributing to ocean pollution and harming birds and sea mammals.
  • Bitcoin & Ethereum Will Not Be Classed As Securities By The SEC

    Bitcoin & Ethereum Will Not Be Classed As Securities By The SEC

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    Whilst a Bitcoin or Ethereum security association did seem unlikely, it is nice to see that the SEC are at least delving into the idea that they could be a security, if only to prove the fact that they are not. "When the efforts of the third party are no longer a key factor for determining the enterprise's success, material information asymmetries recede", Hinman said.