Oklahoma ranks 9th in job creation across the county, new study shows

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Oklahoma ranks 9th in job creation across the county, new study shows

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    Russia is expanding its weapons production by buying secondhand equipment through China in order to evade Western sanctions, a new report states.

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    A 58-year-old lobster dealer with a long and infamous past in southwest Nova Scotia has been handed five years in prison for defrauding a fisheries company of what the prosecutor in the case says was more than a million dollars.Terry Banks, a Brooklyn, N.S., man with a prior record for large-scale fraud, was sentenced Wednesday by Nova Scotia Supreme Court Justice Pierre Muise, in a case that reverberated in the lucrative lobster industry when charges were first laid in 2017.Crown prosecutor Ric

  • Trans Mountain revises heavy crude standards on pipeline after quality concerns

    Canadian government-owned oil pipeline operator Trans Mountain last week revised standards for accepting crude oil on its recently expanded system after buyers raised concerns about the crude oil arriving on the line, a regulatory filing showed. The U.S. West Coast refining market is expected to be a major outlet for the Canadian heavy oil shipped via the Trans Mountain pipeline expansion, called TMX. Trans Mountain last week said it would replace the existing pool of "Low TAN (Total acid number) Dilbit" with a pool of "Pacific Cold Lake," or bitumen diluted with crude having a density of less than 800 kilograms per cubic meter.

  • Huge Rare Earths Discovery is Gamechanger in Americas Trade War with China

    Greenland’s massive rare earth deposit, acquired by a Nasdaq-listed company, could significantly reduce the West's dependence on China for critical minerals.

  • I’m an Average Middle-Class Retiree: Here’s How Much Savings I Have

    Though your pre-retirement income alone isn't enough to determine if you'll retire comfortably, it certainly plays a role. For example, if you're earning a middle-class salary, the amount you allocate...

  • India shuns China's calls to resume passenger flights after 4 years, officials say

    China is pressing India to restart direct passenger flights after a four-year halt, but New Delhi is resisting as a border dispute continues to weigh on ties between the world's two most populous countries, officials said. India-China relations have been tense since the biggest military confrontation in decades on their disputed Himalayan border killed 20 Indian and at least four Chinese soldiers in June 2020. Since the clash, India has made it difficult for Chinese companies to invest, banned hundreds of popular apps and severed passenger routes, although direct cargo flights still operate between the Asian giants.

  • China Eyes Trade War Targets Across Europe for Retaliation

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  • Gen X and Boomers: 3 Key Signs You Won’t Be Able To Afford To Retire Before Age 70

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  • It will take years for the oil and gas market to recover from the 'mother of all shocks,' Harvard economist says

    "When there is an energy shock, it can take a huge price change to clear the market," the Harvard economist Ken Rogoff said.

  • Elon Musk announces Tesla stock option grants for 'exceptional performance' — read his email to workers

    Tesla is implementing a system to reward "exceptional performance," according to an email viewed by Business Insider.

  • Beijing urges Britain to stop sanctioning Chinese firms over Russian links

    China's commerce ministry said on Wednesday that it had urged Britain to stop sanctioning Chinese firms after the country sanctioned five Chinese companies over their links to Russia. Britain last week imposed its first sanctions targeting vessels in Russian President Vladimir Putin's "shadow fleet" that it said was used to circumvent Western sanctions on the trade in Russian oil.

  • EU subsidy probe cools China EV sector's will to invest in Europe, survey finds

    The European Union's anti-subsidy investigation into Chinese electric vehicles has cooled Chinese firms' EV sales and harmed their confidence in investing in Europe, a survey of Chinese EV companies showed on Wednesday. Some 82% of vehicle and industry chain firms said the subsidy investigation had eroded their confidence in investing in Europe in the near future, the survey by the China Chamber of Commerce to the EU and the China Economic Information Service showed. The poll, conducted in April and May, was part of a report on Chinese EV manufacturers and Europe.

  • Chinese automakers seek retaliatory tariffs on EU cars, state media reports

    SHANGHAI/BEIJING/BERLIN (Reuters) -Chinese automakers have urged Beijing to hike tariffs on imported European gasoline-powered cars in retaliation for Brussels' curbs on exports of Chinese-made EVs, the state-backed Global Times newspaper said on Wednesday. In a closed-door meeting on Tuesday also attended by European car companies, China's auto industry "called on the government to adopt firm countermeasures (and) suggested that positive consideration be given to raising the provisional tariff on gasoline cars with large-displacement engines," according to the report. The meeting, organised by China's Ministry of Commerce, was held in Beijing and attended by SAIC, BYD , BMW, Volkswagen and its Porsche division, two people with direct knowledge of the matter said.

  • China says EU mandated its EV firms turn over 'unprecedented' amounts of data

    BEIJING (Reuters) -The European Commission sought an unprecedented amount of detailed information on Chinese automakers' supply chains during its investigation into the country's subsidised electric vehicle imports, China's commerce ministry said on Thursday. The Commission, which oversees trade policy for the 27-nation strong European Union, last week slapped extra duties on imported Chinese EVs following the probe, prompting rebuke from Beijing and spying allegations from Chinese state media. China has also launched a dumping investigation into EU pork imports.

  • The global spike in luxury handbags, shoes, and clothing sales could be coming to an end due in part to China's 'luxury shaming,' study finds

    Global sales growth for luxury goods is expected to slow this year, per a Bain & Compnay report. "Luxury shaming" in China could be a factor.

  • Disney’s Abandoned $1B Florida Relocation Plan Breeds Employee Class-Action Suit In Fallout From DeSantis Dust-Up

    Disney’s now-abandoned Florida relocation plan for staffers has created some pretty dark legal skies. More than a year after the once again Bob Iger-run Disney dropped its Bob Chapek-era initiative to consolidate some California operations and employees in a new campus in Orlando’s Lake Nona area, a current VP of Product Design and a director …

  • Japan's weak yen lifts exports, but falling volume highlights soft demand

    TOKYO (Reuters) -Japan's weak yen sharply boosted the value of exports in May but the volume of sales shrank for the fourth consecutive month, highlighting that global demand is still relatively soft and complicating the central bank's monetary tightening path. The Bank of Japan last week took a step forward to reduce its huge bond purchases as part of plans to exit years of massive stimulus. The soft underbelly in the trade report though adds to the picture of a fragile economy, making future interest rate hikes far from assured.

  • China's 618 shopping festival ends with Alibaba, JD.com declaring victory amid 'waning' interest

    Alibaba Group Holding and JD.com touted impressive growth trends but declined to reveal total gross merchandise value (GMV) figures for their midyear 618 shopping festival events, as China's major e-commerce players remain locked in a heated battle to get consumers to open their wallets amid the country's economic slowdown. Both e-commerce giants declared victory as they fend off competition from rivals Pinduoduo, operated by Temu owner PDD Holdings, and Douyin, the Chinese equivalent of TikTok

  • Business Matters: Nvidia overtakes Microsoft as most valuable company

    AI chip giant Nvidia has become Wall Street's most valuable company, overtaking Microsoft. Amandalina Letterio has the details and more in Business Matters for June 19, 2024.

  • Ford plans further job cuts in Europe, German works council says

    Ford plans further job cuts in Germany, Spain and the U.K., the head of the worker's council for the US automaker in Germany told Reuters on Tuesday. It is unclear how many additional job cuts are foreseen in Germany under the new restructuring plan, which comes on top of a previous restructuring program, said the head of the works council at Ford's Cologne plant, Benjamin Gruschka. Gruschka added that a decision is expected by end June.