• Saudi, UAE See Sufficient Oil Supplies, Rising Stocks
Saudi, UAE See Sufficient Oil Supplies, Rising Stocks

Last October, Iran's Minister of Petroleum Bijan Zangeneh said there was no spare capacity left for oil producers to pump more, dismissing Trump's pressure on OPEC to ramp up output to bring down prices. All members are keen to avoid a repeat of past year when the group - faced with very similar circumstances in Iran - boosted output too fast and...

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  • How Does Google's Restriction On Huawei's Use Of Android Affect You?
How Does Google's Restriction On Huawei's Use Of Android Affect You?

The block is set to prevent future updates. Though Huawei will be able to use a publicly available version of Google's operating system through open source licensing, future Huawei smartphones will not have the Android OS and other Google services.

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  • Pak condemns drone strikes on Saudi Arabias oil facility
Pak condemns drone strikes on Saudi Arabias oil facility

What's really behind these series of attacks? Al-Falih condemned the latest attacks, along with the Sunday attacks against four ships including two Saudi oil vessels near the port of Fujairah, the United Arab Emirates ( UAE ), for attempting to destabilize the worldwide energy supply.

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  • Shares fall in Asia after no deal in China-US trade talks
Shares fall in Asia after no deal in China-US trade talks

The trade war in the U.S. is the creation of one person and one administration, but it affects that country's entire population", it continued. That means the burden of the tariffs would fall on those who are now unemployed, or on other companies that have lost business because their customers no longer have the money to buy their products.

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  • Supreme Court Rules Against Apple, Allows Users to Sue Over Pricing
Supreme Court Rules Against Apple, Allows Users to Sue Over Pricing

It insisted that App Store customers were those of third-party developers using the download store to sell their titles, rather than direct Apple customers. Apple actually won this case at the district court level, by arguing that under a 1977 Supreme Court case called Illinois Brick Co. vs. Illinois, it couldn't be sued by individual customer...

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  • Bitcoins Worth $41Mn Nicked From World’s Largest Cryptocurrency Exchange
Bitcoins Worth $41Mn Nicked From World’s Largest Cryptocurrency Exchange

Official notes say that "The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time". Furthermore, Yusko noted that just because banks and people get robbed all the time, it does not mean we should stop using money, and so we should not worry too much about ...

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  • Uber's IPO values the ride-hailing service at $82.4 billion
Uber's IPO values the ride-hailing service at $82.4 billion

Lyft's shares closed Thursday 23% below its IPO price of $72 in April. Lyft's IPO has been lackluster in its opening weeks, with shares trading at around $52 Friday, down from an opening day high of $78, down a whopping 33%. Despite his company's rocky stock market debut, Uber CEO Dara Khosrowshahi says he's thrilled to complete his company's ...

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  • China Hopes to
China Hopes to "Negotiate" Trade Issues With Joe Biden or 'Weak' Dems

Vice-Premier Liu He will go to Washington this week in a bid to salvage trade talks and stop a new economic Cold War from breaking out between China and the United States . The sources told Reuters the extent of the setbacks in the revised text were serious and that Trump's response was not merely a negotiating strategy.

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  • United States tariff increase on $200B of Chinese imports takes effect
United States tariff increase on $200B of Chinese imports takes effect

Chinese vice premier Liu He, US trade representative Robert Lighthizer and US treasury secretary Steven Mnuchin talked for 90 minutes on Thursday and were expected to resume talks on Friday . Now he's publicly playing hardball with the world's second largest economy by threatening new tariffs that will kick in Friday, as if striking a unilateral d...

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  • How trade tensions with China are affecting Alabama
How trade tensions with China are affecting Alabama

The tougher rhetoric from the US on trade surprised investors who had been expecting that the world's biggest economies would come to some sort of agreement. If tariffs are going to go from 10% to 25% on $200 billion worth of goods, this might only represent an additional cost to the USA economy of about $30 billion (at a new $50 billion, versus a ...

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  • Uber driver protests ahead of IPO spell uncertain future for gig economy
Uber driver protests ahead of IPO spell uncertain future for gig economy

Sharon Block , executive director of the Labor and Worklife Program at Harvard Law School, which is Harvard's forum for research and teaching on the world of work and its implications for society. While the boycott in NY will last only through the morning rush hour, drivers' groups in Boston and Los Angeles are encouraging members to turn off their...

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  • US sanctions on Iranian oil risk stoking OPEC tensions
US sanctions on Iranian oil risk stoking OPEC tensions

USD/CAD: The Canadian dollar strengthened against its US counterpart on Monday, as oil prices rose, while worries over the trade war between the United States and China helped Canadian dollar. "We've seen that market tighten up considerably even before the Iranian information, and we are also seeing a range of refining problems in the USA", said ...

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  • Trump ups pressure on China ahead of last ditch trade talks
Trump ups pressure on China ahead of last ditch trade talks

The administration repeatedly has suggested that the negotiators were making progress. Investors pulled back from riskier bets on fears the trade battle between the world's biggest economies was escalating, especially since recent gains in USA equities were at least partly due to optimism they would reach a deal.

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  • Federal rebates for electric cars kick in with increased price limit
Federal rebates for electric cars kick in with increased price limit

During the quarterly results call Mr Musk reversed his previous position that Tesla did not need. FILE PHOTO: Tesla CEO Elon Musk leaves Manhattan federal court after a hearing on his fraud settlement with the Securities and Exchange Commission (SEC) in New York City, U.S.

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  • Berkshire Hathaway shareholders arrive in Omaha
Berkshire Hathaway shareholders arrive in Omaha

Buffett largely eschews Berkshire's political involvement, telling shareholders that in his 54 years at the helm of the conglomerate, the company has never made a contribution to any political candidate. At the end of 2018, Buffett's firm owned more than $40 billion of the company. Amazon's closing price on Thursday, ahead of this disclosure, was...

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  • Apple Earnings: iPhone Slips, Services Soar, Stock Spikes
Apple Earnings: iPhone Slips, Services Soar, Stock Spikes

In addition, it's starting a programme to buy back up to Dollars 75 billion of its own shares. Though Apple has a market share of just 1.2% in India's smartphone market, the company has said that some adjustments in India have seen good initial reactions in the price-sensitive market.

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  • Oil Prices Climb As Saudi Says OPEC May Extend Supply Cuts
Oil Prices Climb As Saudi Says OPEC May Extend Supply Cuts

Global benchmark Brent crude was trading at $71.19 per barrel at 0615 GMT for a 1.33% decline after it closed Friday at $72.15 a barrel. Brent crude, after briefly touching US$75 a barrel, is now back at around US$71 and West Texas Intermediate has fallen from the US$65 highs it hit earlier this month.

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  • Google parent's shares dive as YouTube changes, competition hurt revenue
Google parent's shares dive as YouTube changes, competition hurt revenue

The company , which also owns YouTube , reported sales of US$36.6bn for the three months ended 31 March - nearly US$1bn below what Wall Street number crunchers had forecast. But the cloud now accounts for only a small slice of Alphabet's overall revenue. However, the overall segment's rate of growth pales considerably next to AWS' and Microso...

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  • Microsoft surpasses Apple as most valuable United States company
Microsoft surpasses Apple as most valuable United States company

Azure's growth is an indication of its importance to Microsoft's overall business and the direction company officials need it to go as they look to chip away at Amazon Web Services' (AWS) dominant market share. - Revenue in More Personal Computing was $10.7 billion, an increase of 8% year-over-year. Microsoft briefly reached a market cap v...

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  • Elon Musk Agrees to New Vetting Rules for Tweets
Elon Musk Agrees to New Vetting Rules for Tweets

The questionable tweet was related to Tesla production figures and appeared to contradict figures represented in an earlier letter to the company's shareholders. Musk said Tesla would return to profit in the third quarter and that there was "some merit" to raising capital. Musk and the SEC spent the next few weeks filing scathing responses, wit...

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