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Greek 10-year bond yields fell 8 basis points to a four-week low at 4.23 percent, while five-year bond yields fell 10 bps to 3.40 percent - their lowest level in nearly four weeks. "The Greek crisis ends here tonight", said EU Economic Affairs Commissioner Pierre Moscovici, after the marathon talks in Luxembourg . The country has issued bonds three times since the beginning of the bailout, twice within the previous year.
  • Supreme Court ruling lets states collect sales tax from online purchases

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    Currently, businesses shipping a product to another state where it does not have a "physical presence" - a store, office or warehouse - are not forced to collect that state's sales tax. In giving a victory to the states, the high court said that rule is outdated. "Will states step forward and pass laws similar to South Dakota?" asked Annette Nellen, director of the Masters in Science in Taxation program at San Jose State University, on Thursday.
  • EU tariffs on US goods take effect as trade war erupts

    EU tariffs on US goods take effect as trade war erupts

    Markets

    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.
  • Prices Dip Slightly on Reports Iran May Agree to Small Production Hike

    Prices Dip Slightly on Reports Iran May Agree to Small Production Hike

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    They have since substantially overshot that target, with the reduction estimated at 2.8 million bpd. But the proposal has run into resistance from Iran, Iraq and Venezuela, who would struggle to immediately raise output and fear losing market share and revenues if other countries open the spigots.
  • Could China turn to Iran oil? Former Exxon president weighs in

    Could China turn to Iran oil? Former Exxon president weighs in

    Markets

    So far there is no indication that Iran and the other members would agree to such a reallocation, although with officials holding extensive talks in the run-up to Friday's Opec meeting, further compromise could be made. Phil Flynn, an oil analyst with The Price Futures Group, expects a deal for around an extra 1 million barrels a day. However, because most countries can't increase production, that would probably translate to just 600,000 barrels coming back on to the market - an increase ...
  • US Supreme Court Rules States Can Tax Online Sales

    US Supreme Court Rules States Can Tax Online Sales

    Markets

    Justices Thomas and Gorsuch filed concurring opinions. Chief Justice Roberts argued in his dissent Congress should be the one to address the regulation of commerce between states . The biggest jewelry e-tailer, Blue Nile, now collects sales tax only in Washington , New York, and Virginia. But Congress, buffeted by anti-tax groups, has walked away from the issue.
  • Trump trade adviser says tariffs are 'necessary to defend this country'

    Trump trade adviser says tariffs are 'necessary to defend this country'

    Markets

    In response to China's efforts to impose retaliatory tariffs , President Trump has asked U.S. trade officials to identify US$200bn worth of Chinese goods for additional tariffs at a rate of 10 per cent. The Dow slid 42.41, or 0.2 percent, to 24,657.80. Case in point: The White House threatened China with another round of punitive tariffs - right before Chinese President Xi Jinping met with North Korean leader Kim Jong-un.
  • Cryptocurrencies Fall as Korean Exchange Says $32 Million of Coins Stolen

    Cryptocurrencies Fall as Korean Exchange Says $32 Million of Coins Stolen

    Markets

    Bithumb did not yet disclose which cryptocurrency was affected, but it did say the losses would be compensated from the platform's own reservoir. Bithumb has quickly established itself as one of the fastest-growing trading platforms in South Korea - a country that has become a major hub for cryptocurrency traders in recent months.
  • Elon Musk Reckons A Saboteur Has Been Dicking Around With Tesla Production

    Elon Musk Reckons A Saboteur Has Been Dicking Around With Tesla Production

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    Oppenheimer, like other big name firms including Goldman Sachs and UBS, sees Tesla needing to raise money soon , something Musk has repeatedly said the company will not do. "Could just be a random event, but as Andy Grove said, 'Only the paranoid survive, '" Musk wrote on Monday, referring to the late chairman and CEO of Intel Corp.
  • Merkel says climate change is a fact, laments US stance

    Merkel says climate change is a fact, laments US stance

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    In addressing further combating the migration crisis, Merkel noted Germany would bar migrants who are already registered in other European nations. "We are opening a new chapter", Merkel said after the talks, which produced an eight-page declaration entitled: "Renewing Europe's promises of security and prosperity".
  • 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

    Markets

    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

    Trump prepares to slam China with US$200 billion in new tariffs

    Markets

    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

    Markets

    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

    Markets

    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 ...