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ConAgra adds Pinnacle Foods to the menu in $10.9 Billion deal

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Conagra moved its headquarters from Omaha to Chicago in 2016. The Conagra deal marks the latest shift in the reconfiguration of the USA food industry as many families are seeking foods they consider healthier and less processed. 2 US frozen food maker by sales after Nestle (NESN.S), comes as demand rises for convenient, healthy ready meals, especially among millennials. Chicago-based Conagra said the two packaged food companies would have reported a combined $11 billion in full-year ... Read More »

Trump says Harley move overseas would be 'beginning of the end'

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As CNN is reporting, Harley Davidson Motorcycles is shifting production overseas, promptly reacting to retaliatory tariffs from the European Union . "Bottom line is that companies are coming back now to negotiate, including (the) European Union that wants to negotiate", Trump said. With sales stalling in the U.S., Harley-Davidson is increasingly relying on Europe and other overseas markets for growth, Wedbush's Hardiman said. Read More »

Harley-Davidson may face credit downgrade because of European Union tariffs

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And in response to those European Union tariffs, Harley has said it will move some bike production to Europe since it is a business after all and has to make money somehow. Harley-Davidson should stay 100% in America, with the people that got you your success. In India too, Harley-Davidson is the leading premium motorcycle brand in sales volumes, selling more than 3,000 motorcycles every year. Read More »

Trump backs off imposing China investment limits

The Trump administration said it would rely on an existing Treasury Department-led committee to restrict new Chinese investments in American technology companies, backing away from a more aggressive approach that would have declared a national economic emergency and dramatically limited China's ability to invest in the U.S. Read More »

U.S. defense chief visits China as tensions over trade simmer

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The administration could declare an economic emergency, or IEEPA, to justify the restrictions, according to the report . People familiar with Mnuchin's thinking said that after he lost an internal battle on how to handle the trade dispute with Beijing , he's signaled his disagreement with the president's approach through silence. Read More »

Oil prices rise amidst uncertainty over Libyan crude exports

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A day after the American Petroleum Institute helped push crude prices even higher by estimating a 9.228-million-barrel draw in US crude oil inventories, the EIA confirmed the draw, at 9.9 million barrels for the week to June 22. Up until now, the terminals have been managed by the National Oil Company (NOC), which is tied to Libya's internationally recognised government based in Tripoli . Read More »

Facebook Is Reversing Its Ban on Cryptocurrency Ads-But There's a Catch

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Facebook, in January, banned all ads that promoted financial products and services. But the ban is not reversed for ads promoting binary options and ICOs , initial coin offerings. The largest ad network that continued to allow them was Microsoft-owned search engine Bing, and even they announced a plan last month to ban crypto related ads. Read More »

OPEC meeting in Vienna agrees to raise oil output

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ICE August Brent lagged slightly, settling $2.50 higher at $75.55/b. Dmitriev, one of the architects of the initial deal between Moscow and OPEC in December 2016, said that long-term Russia-Saudi cooperation "will ensure pricing stability on global markets and increase investments in the energy sector". Read More »

Harley-Davidson Won't Raise Wholesale Prices In Wake of EU Tariffs

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He later added , "The Aura will be gone and they will be taxed like never before!" - Harley-Davidson is not looking to import bikes manufactured overseas back to the U.S. The company said that it was making the move in response to tariffs from the European Union. On Monday, Harley-Davidson announced it is moving some production overseas because of retaliatory measures from the European Union against Trump's duties on steel and aluminum from the bloc. Read More »

Donald Trump's Tariffs Have Europe Cozying Up to China

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European Commission Vice President Jyrki Katainen said unilateral action by US President Donald Trump in disputes over steel, China's technology policy and other issues highlighted the need to modernise the World Trade Organisation to reflect developments in the world economy. Read More »

Brexit bill becomes law, allowing United Kingdom to leave European Union

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The government's flagship Brexit legislation has officially become law, Speaker John Bercow has announced . The Bill transfers decades of European law onto British statute books in a bid to avoid any legal disruption. Chief executive Mike Hawes said: "There is growing frustration in global boardrooms at the slow pace of negotiations". Anti-Brexit demonstrators fill Parliament Square in central London on June 23. Read More »

Erdogan wins Turkey presidential polls

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Mr. Erdoğan, 64, the most popular - yet divisive - leader in Turkey's modern history, told jubilant, flag-waving supporters there would be no retreat from his drive to transform the country, a deeply polarised nation that is both a North Atlantic Treaty Organisation member and, at least nominally, a candidate to join the European Union (EU). Read More »

Iran's Oil Revenue Hits $50 Billion Ahead Of US Sanctions

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Trump also said he would reinstate USA nuclear sanctions on Iran and impose "the highest level" of economic bans on the Islamic Republic. These latest protests have hit Iranian commercial areas, including the sprawling, historic warrens of Tehran's Grand Bazaar, the home of conservative merchants who backed the country's 1979 Islamic Revolution and overthrow of Shah Mohammad Reza Pahlavi. Read More »

Trump 'Surprised' That Harley-Davidson Caved in Tariff Standoff

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The EU tariffs on $3.4 billion worth of US products are retaliation for duties the Trump administration is imposing on European steel and aluminum. But Harley-Davidson's plight in Europe drew fresh interest from French Parliament member Eric Straumann, who contacted Levatich to propose a new factory on the French-German border in Alsace. Read More »

United States seeks to cut Iran oil sales to zero

Teams of State and Treasury Department officials have been dispatched to Europe and Asia in recent weeks to garner support for the Trump administration's Iran strategy, telling allies that they are expected to cease oil imports from the country, the official said. Read More »

Trump lobs new threats against countries trading with the US

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President TrumpDonald John TrumpGOP lawmakers preparing to vote on bill allowing migrant children to be detained longer than 20 days: report Wasserman Schultz: Infants separated from their parents are in Florida immigrant shelters Ex-White House ethics chief: Sarah Sanders tweet violates ethics laws MORE on Sunday warned other countries that the USA would retaliate if they placed trade barriers and tariffs on US exports. Read More »

Tesla Semi packs a 'Mad Max' mode, because reasons

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It's unclear how the varying levels will change - the screen lists "standard", "aggressive" and " Mad Max " - but it could change how the vehicle moves between lanes depending on the position of other cars in the user's blind spot. What I'd like to know, though, is how the "Augmented Vision" tab works. Tesla now offers two tiers of Autopilot to buyers. Autopilot now adjusts lane positioning and speed by analyzing surrounding traffic and other factors. Read More »

United States may use emergency law against China investments, says Bloomberg

The CBOE Volatility index, known as Wall Street's fear gauge, spiked to its highest level in almost a month. Liu said that China and the European Union want to avoid such practices "impacting the global economy", Efe news reported . This was seen by many as an attempt to reassure China that it was not being singled out. In addition, the National Security Council and the Commerce Department are putting together plans for "enhanced" export controls, created to keep such technologies from ... Read More »

Erdogan wins increased powers as rival concedes defeat

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Turkish President Recep Tayyip Erdogan has won a new five-year term and will enjoy sweeping new powers after his victory in an election that worldwide monitors said lacked "equal" conditions and his closest challenger said turned Turkey into "a one-man regime". Read More »

'Waving white flag': Trump hammers Harley-Davidson

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Harley-Davidson will not raise its prices to avert "an immediate and lasting detrimental impact" on sales in Europe, it said. Shares of Harley-Davidson fell 3 percent in pre-market trading Monday. Shifting the production overseas could take up to 18 months, the motorcycle maker said. Editorial Note: The following is the text of a filing made by Harley-Davidson, Inc.to the U.S. Read More »

China and Europe warn trade war could trigger global recession

Earlier, there were various news reports that Trump would place new curbs on Chinese investment in US technology firms and would block additional technology exports to Beijing . Derek Scissors, a China scholar at the American Enterprise Institute who consults regularly with the administration, said that he believes Mnuchin would prefer to apply the text of a bill working its way through Congress to strengthen national security reviews of US acquisitions to investments by China. Read More »

Trump 'surprised' by Harley-Davidson move to shift work

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The EU implemented tariffs on just over $ 3 billion worth of U.S. goods in response to Trump's decision to hit steel and aluminum imports with tariffs . Europe is too important of a market for Harley to neglect. Overseas sales also have been stalling. The EU will now impose a 25 per cent tariff on all motorcycles above 500 cc which are being brought in from the United States. Read More »

Tehran's Grand Bazaar Goes On Strike As Iran's Economic Crisis Worsens

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Iran is banning imports of over 1,300 products, preparing its economy to resist threatened USA sanctions, amid rare public protests against the plunge of its currency to record lows. Violence at those demonstrations, which continued into early January, left 25 dead and almost 5,000 people detained by authorities. People protest in Tehran, Iran, Dec. Read More »

U.S. Treasury's Mnuchin says new investment curbs not specific to China

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Reports on Sunday said the U.S. Treasury Department was working on restrictions that would block companies with at least 25 per cent Chinese ownership from buying U.S. In response, the European Union has slapped additional tariffs on some 340 US products. As Lim explained, US businesses will be hurt as a result of the escalating trade war. Read More »

Harley-Davidson Will Shift Manufacturing Overseas To Avoid Tariffs

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In a filing made Monday with the Securities and Exchange Commission, Wisconsin-based Harley-Davidson disclosed plans to move some of its manufacturing facilities from the Rust Belt to the Old World in the hopes of avoiding higher costs created by new European Union tariffs that target American-made motorcycles, along with other cultural products like whiskey and blue jeans. Read More »

Uber kicks off court battle to stay in business in London

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Tom Elvidge, general manager of Uber in the United Kingdom, said today: 'I agree that Uber London Limited (ULL) and Uber generally was undergoing a period of significant change and, in light of what was available to TfL given the mistakes that ULL made, I absolutely accept that decision in September'. Read More »

Erdogan claims victory in Turkish election - but opponent disputes, claims manipulation

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The main rival of President Recep Tayyip Erdogan in a weekend presidential election said on Monday that he accepted results handing victory to the Turkish strongman in the first round. The lira has fallen more than 18% this year against the U.S. dollar as investors watched Erdogan attack the central bank's independence, suggesting that high interest rates stoke, rather than tame, inflation. Read More »