Germany will offer to scrap the EU’s 10% tax on US autos: Report
German auto makers are proposing an end to the European Union’s 10 percent import tax on U.S.-made cars, the Wall Street Journal reported Wednesday. The newspaper reported that Richard Grenell, the U.S. ambassador to Germany, has been in talks recently...
EU to hit $3.2 billion of US imports starting Friday in response to Trump’s tariffs
The European Union will start charging import duties of 25 percent on a range of U.S. products from Friday after Washington imposed tariffs on EU steel and aluminum at the start of June, the European Commission said on Wednesday. The...
Mortgage applications jump 5.1% as interest rates settle
Interest rate volatility has dissuaded borrowers for months, but some returned to the mortgage market last week. Mortgage application volume increased 5.1 percent from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted survey. The gain was driven...
Yen Retreats Mildly as Sentiments Stabilized, Sterling Weak ahead of BoE
Sentiments somewhat stabilized slightly in Asia as markets digest trade war triggered losses. China’s Shanghai composite is losing -0.59% at the time of writing. But Nikkei and Hong Kong HSI are up 0.36% and 0.41% respectively. DOW lost -287.26 or...
A major cryptocurrency exchange says it was hacked and $30 million in coins was stolen
South Korea-based cryptocurrency exchange Bithumb said Wednesday it was temporarily suspending deposit and withdrawal services after about $30 million worth of cryptocurrency was stolen. The Seoul-based operator said on Twitter that the stolen coins would be covered from Bithumb’s own...
Lapses at many levels of bank led to India’s huge PNB fraud, internal report shows
A $2 billion fraud at India’s Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the bank’s own internal...
After-hours buzz: WBA, SBUX & more
Check out the companies making headlines after the bell: Walgreens Boots Alliance stock increased as much as 4.5 percent in extended hours trading, before giving up some of its gains. The pharmaceutical store chain is set to join the Dow...
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