US and Canada spar after G7, with White House's Kudlow denouncing 'stab in the back'

In the end the long charm offensive by Canadian Prime Minister Justin Trudeau to avoid the ire of U.S. President Donald Trump failed just hours after success seemed closest with Trump raining insults as Trudeau closed what seemed like a triumphant global summit. Aside from the escalated risk of a trade war Trumps blistering personal attack on Trudeau poses domestic economic and political [read more]

There's an increased risk of armed conflict if the US-North Korea summit fails

If diplomatic talks between President Donald Trump and North Korean leader Kim Jong Un dont produce any kind of agreement on the rogue states nuclear weapons program that could bolster Washingtons appetite for military action strategists warned. The leaders are due to hold a summit on June 12 following a tumultuous 2017 that saw both exchange heated insults against the backdrop of Pyongyangs frequent [read more]

Japanese Prime Minister Shinzo Abe faces pressure to join trade war against the US

President Donald Trumps meeting Thursday with Japanese president Shinzo Abe was billed as a conversation about upcoming peace talks with North Korea. But with steep tariffs on imports of Japanese steel and aluminum and threats of levies on Japanese cars the topic of tense trade relations between the two countries was the elephant in the Oval Office. The meeting with Abe comes as Trump prepares for a gathering in [read more]

Trump Spars With Trudeau, Macron On Trade Ahead Of G7 Summit

         On Friday Trump is scheduled to attend the annual summit and meet with leaders from the U.K. Canada Japan Italy Germany and France.         In a tweet Trump accused Canada and France of levying massive tariffs and creating nonmonetary barriers.         He has repeatedly lashed [read more]

G7 Meeting, 2nd Chance To Avoid A Global Trade War

G7 meeting the next chance to head off possible global trade implosionLeaders of the worlds biggest advanced economies will meet in Canada this weekend for a G7 summit like no other.As trade tensions continue to escalate German Chancellor Angela Merkel predicts it will be a contentious meeting.The trade conflict began in March when US President Donald Trump put tariffs of 25 percent on imported steel and 10 percent on imported aluminum citing national security.But the conflict ramped up last week when an exemption for close [read more]

'Pragmatic' Beijing is what's stopping US and China from a 'blow up,' former central banker says

Among the countries that the U.S. has taken issue with China has stood out for knowing how to handle President Donald Trumps administration to avoid worsening conflict former Indian central bank governor Raghuram Rajan said Tuesday. In fact Rajan said at the Nomura Investment Forum in Singapore its the pragmatism on the part of the Chinese leadership that has prevented tensions between the worlds two largest economies from escalating. Trump has said unfair Chinese practices are to blame for the wide trade balance between the [read more]

Coinbase acquires Keystone Capital in bid to become a regulated broker-dealer

Leading U.S. cryptocurrency exchange Coinbase announced it would acquire securities dealer Keystone Capital in a bid to become a fully SECregulated broker dealer the company said Wednesday. If approved Coinbase will soon be capable of offering blockchainbased securities under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) Coinbase President and Chief Operating Officer Asiff Hirji said in a statement. This step forward is being made possible by our [read more]

China is working to change global commodities trading — to its own benefit

Chinese exchanges are wooing international commodities traders in a bid to overtake longstanding benchmark prices many of which are set in Europe and the U.S. reflecting ambitious plans by the worlds secondlargest economy to expand its influence overseas. In the last few months Chinese exchanges have opened up the trading of derivatives products for a few major commodities to international participants. Those include crude oil [read more]

Tesla reveals plans for a new factory in Shanghai at shareholder meeting

At a shareholder meeting on Tuesday Teslas head of worldwide sales Robin Ren revealed that the company plans to build its first factory outside of the U.S. in Shanghai. The Chinese government recently announced that it will allow foreign electric vehicle makers to fully own autofactories there. Teslas move into China is hotly anticipated as building some vehicles there would allow the company to avoid import [read more]

UK government clears Fox's bid for broadcaster Sky, pending the sale of Sky News

Britains government said Tuesday it was now prepared to give TwentyFirst Century Fox the provisional goahead to buy Sky subject to the sale of its Sky News channel. If approved it could pave the way for a dramatic bidding war with U.S. media giant Comcast. Culture Secretary Matt Hancock said Foxs proposal to divest Sky News to Disney or any other suitable buyer was likely to be the most proportionate [read more]