China can substitute US oil with Iranian crude to ‘infuriate Trump’ – analyst
Jun19

China can substitute US oil with Iranian crude to ‘infuriate Trump’ – analyst

Beijing’s retaliatory measures against US tariffs can include penalties on oil coming to China from America. A cut in Chinese purchases of US oil may benefit Iran’s sales. “The Chinese may just replace some of the American oil with Iranian crude,” said John Driscoll, director of consultancy JTD Energy Services, as quoted by Reuters. “China isn’t intimidated by the threat of US sanctions. They haven’t been in the past. So in this...

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Germany slaps Volkswagen with $1.8bn fine in emissions cheating scandal
Jun14

Germany slaps Volkswagen with $1.8bn fine in emissions cheating scandal

Germany has fined Volkswagen €1 billion over the auto maker’s diesel emissions cheating scandal, public prosecutors have announced. The company said it won’t be appealing the fine, one of the highest ever imposed by Berlin. The €1 billion (US$1.8 billion) fine was ordered by the prosecutor’s office in the German city of Braunschweig. It’s the latest move against the car manufacturer, which admitted in 2015 that it had...

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Forget natural disasters: Man-made risks may cost global cities $320bn annually
Jun12

Forget natural disasters: Man-made risks may cost global cities $320bn annually

Man-made threats including market crashes, cybercrime and interstate conflicts are a bigger threat to economic output than natural disasters, a survey from insurer Lloyd’s has found. According to the Lloyd’s “City Risk Index” which was created in collaboration with Cambridge University, those risks have an estimated annual impact of $320 billion of global gross domestic product (GDP) for some 279 cities. They are a much...

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300 Russian ‘Spartans’ get government support in conquering the Far East
Jun11

300 Russian ‘Spartans’ get government support in conquering the Far East

More than 300 Russian trailblazers who have claimed free land in the country’s Far East are getting government support to survive the hardships of settling uninhabited areas. The overall aid for the 314 settlers reached about $500,000 for various needs in farming, like the purchase of agricultural machinery, buying cattle or fodder, the government of Sakhalin Region said. © Igor Onuchin / Sputnik The Russian government is also seeking...

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Trump’s tariffs to kill thousands of US jobs – study
Jun05

Trump’s tariffs to kill thousands of US jobs – study

US President Donald Trump’s trade war is supposed to create more jobs, but a recent study shows the reality may be more bitter for the ‘America First’ policy. The US recently imposed tariffs on steel and aluminum coming from its allies in the European Union, Mexico and Canada. The trade penalties, 25 percent on imported steel and 10 percent on imported aluminum, took effect on June 1. “The tariffs and retaliation would increase...

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