Category: World News

Tesla Catches Break on China Auto Tariffs

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Tesla shares get a slight boost after China announces auto-tariff exemption…

Citing a statement made by the Ministry of Industry and Information Technology, Reuters reported on Friday that China will exempt Tesla electric vehicles from purchase tax. Tesla shares increased by more than 4% during premarket trading after the report was released.

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Costco Closes Shanghai Store Early Due to Massive Customer Turnout

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Costco’s store opening in China caused traffic jams and safety concerns.

The ongoing trade war between the U.S. and China has gotten a lot of media attention in recent months. Many analysts have speculated whether the trade war will sour Chinese attitudes toward American businesses. 

This certainly didn’t seem to be the case when Costco opened its first mainland China store in Shanghai. Costco opened its newest store on Tuesday, and the reception was far beyond anything the company could have anticipated. 

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Musk Eyes China Expansion With ‘Boring’ Firm

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Elon Musk’s The Boring Company is anything but dull…

But many Americans haven’t heard of this Hyperloop-related play on transportation. That’s changing as The Boring Company grabs more attention in the transportation sector, partially by expanding its international ambitions.

Will tunnels become the new travel technology?

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U.S. CEOs Pull Supply Chains Out of China

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Larry Fink of BlackRock helps explain why…

Laurence Douglas Fink is the CEO and chairman of BlackRock. Based in New York City, it’s a U.S. global investment management corporation with over $6.5 trillion in assets.

On July 19, Fink appeared on “Squawk Box,” a morning talk program on CNBC that features interviews some of America’s biggest names in investments and politics. Fink is regarded as a powerful CEO in U.S. investment management. 

While talking with “Squawk Box,” he said, “We’re hearing from CEOs that more and more supply chains are moving out of China right now. People are not waiting, companies are not wanting to see what the outcome is.”

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Biggest Wildlife Crime Raid Ever Seizes Over 10,000 Animals

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It’s the most widespread wildlife crime raid in history…

In June, INTERPOL and the World Customs Organization (WCO) performed a 26-day anti-trafficking campaign in over 109 countries. 

Named ‘Operation Thunderball,’ the campaign executed 1,828 seizures. With local partners, the organizations recovered lion and tiger cubs, dolphins, sharks, 9,820 marine species, 9,777 live tortoises and turtles, 4,304 birds, 1,422 live reptiles, 545kg of ivory, 23 live primates, and more.

And check out these trafficking suspect numbers…

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US Seeks Military Coalition for Waters Off Iran, Yemen

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Gulf tanker tensions are rising…

The United States is enlisting military allies in the Gulf and Yemen waters.

Vital marine trade locations for oil exports in the Middle East include the Straits of Hormuz (south of Iran), and Bab al-Mandab (south of Yemen). 

Daily, over 4 million barrels of oil travel from the Straits of Hormuz and Bab al-Mandab to the rest of the world. Even after the U.S. blamed Iran for two attacks on U.S. tankers in June (denied by Iran), a U.S. drone was later shot down by Iranian military forces. 

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G20 Brings Good News for American Chip Makers

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Today, we’re seeing big gains in U.S. markets based on easing of trade conflict with China.

Why the significant jumps in U.S. stock futures today? Part of the enthusiasm that’s driving renewed market activity: the technology sector.

In past weeks, as tariff activity seem to be ratcheting up, chipmakers like Broadcom came out with poor earnings reports and projected sales reports partially based on the fact that they source products and materials from Chinese companies. As American businesses were under a mandate not to buy from China, it was hurting their supply chains.

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After 20 Years of Talks, EU, Mercosur Strike Trade Deal

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After two decades of negotiations, it’s happening… 

As the U.S. struggles in solidifying international trade agreements, it appears that the EU has been taking notes and making some long-awaited decisions. 

After 20 years, the EU and Mercosur have finally formed an agreement regarding trade talks that have commenced between the two since 1999. In fact, the final agreement made on June 28, 2019, marks the exact 20th anniversary. 

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FedEx Sues US Government Over Export Restrictions

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Amid the uncertainty and stress of trade tensions between the U.S. and China, one of America’s top transportation companies, FedEx, is suing the federal government…

Apparently, the target of this lawsuit is a federal export ban that would require FedEx to police what’s in its packages, in order to remove Chinese goods from supply chains and consumer pipelines.

In a press statement, the company called this mandate “a virtually impossible task, logistically, economically, and in many cases, legally.”

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Could Oil Prices Spike to $100 a Barrel After the Latest Attacks?

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Crude oil prices recently surged more than 3% to $52.66 … 

All after two oil tankers were attacked near the Strait of Hormuz, leaving one ship ablaze. It’s now the second time in a month that tankers have been struck in the oil-rich region, and U.S. officials are pointing the finger at Iran.

They come just a month after the United Arab Emirates (UAE) said a total of four oil vessels were attacked off its coast at the port of Fujairah.  

It’s “highly likely” Iran caused these attacks, a U.S. defense official told CBS.

In addition, a spokesman for the Saudi-led coalition supporting Yemen has also blamed Iran for the attack, saying it can connect it to a similar bombing in the Red Sea in 2018.  

So, what happens next?

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