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Month: July 2018

The risk of a global recession has ‘significantly increased,’ strategist warns

A slew of global developments are convening to threaten economic growth, according to one investment manager, who believes that the risks of a recession next year have now “significantly increased.” Global growth stood at 3.8 percent in 2017 and it is set to add another 3.9 percent this year and the next, according to forecasts …

The risk of a global recession has ‘significantly increased,’ strategist warnsRead More

EU reportedly warns of new tariffs worth $300 billion if Trump targets automakers

The United States could get a new round of retaliatory tariffs worth as much as $300 billion, if it moves ahead with new duties on European cars, the Financial Times reported. In a written statement to the U.S. Department of Commerce, seen by the news publication, the EU set out clear plans to respond to …

EU reportedly warns of new tariffs worth $300 billion if Trump targets automakersRead More

Dollar Regains Ground as Markets Prepare for an Eventful Week

Dollar strengthens broadly in Asian session, followed by New Zealand Dollar and Japanese yen. On the other hand, Australian Dollar is the weakest, followed by Canadian Dollar and the Euro. But after all, major pairs and crosses are bounded in Friday’s range. Movements are so far very limited. Weakness is seen in Asian markets in …

Dollar Regains Ground as Markets Prepare for an Eventful WeekRead More

The Trump administration reportedly drafted a bill that abandons WTO rulebook

President Donald Trump’s administration has drafted a bill that allows the White House to unilaterally raise tariffs without congressional consent, Axios reported late on Sunday. If the legislation goes ahead, that means the world’s largest economy would be abandoning the World Trade Organization rulebook. The bill, called the “United States Fair and Reciprocal Tariff Act,” …

The Trump administration reportedly drafted a bill that abandons WTO rulebookRead More

Battered bitcoin will reach $50,000 by end of year, says founder of crypto exchange

Despite the recent bloodbath in cryptocurrencies, Bitcoin bull Arthur Hayes said the popular digital coin will reach $50,000 by the end of the year.   Bitcoin’s price has been on a wild roller coaster with investors, but “something that goes up to [around] $20,000 in one year can have a correction,” Hayes, the co-founder and …

Battered bitcoin will reach $50,000 by end of year, says founder of crypto exchangeRead More

Facebook gave preferential treatment to 61 companies after restricting user data back in 2015

Facebook has admitted that it gave dozens of companies access to its users’ data after saying it had restricted access to such data back in 2015, the latest wrinkle in a firestorm over how the social network manages user information. In news first reported by The Wall Street Journal, Facebook handed a 747-page document to …

Facebook gave preferential treatment to 61 companies after restricting user data back in 2015Read More

Retaliation for US tariffs kicked in on Sunday — taking aim at ketchup, whiskey and soup

U.S. farmers and food producers are in the crosshairs of a global trade conflict that shows no signs of abating anytime soon — and trade tensions escalated in a big way Sunday. New tariffs were imposed by Canada on beef, and more retaliation will come this week when China and Mexico take aim at pork. …

Retaliation for US tariffs kicked in on Sunday — taking aim at ketchup, whiskey and soupRead More

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