• India will break U.S. sanctions and keep importing Iranian oil
India will break U.S. sanctions and keep importing Iranian oil

Iranian crude exports, which reached a peak of some 2.5 million barrels after sanctions were lifted in 2016, have plunged by over 500,000 barrels a day and are expected to dive further when expanded sanctions on oil take effect next month. With the European Union considering the creation of a "special objective vehicle" before November to facilitat...

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  • US, China trade war could dent economic growth
US, China trade war could dent economic growth

The global organisation warned a full-blown trade war between the USA and China could have wider implications for the financial growth around the world. That includes President Donald Trump´s imposition of tariffs on $250 billion in Chinese goods, as well as on aluminum, steel and other products worldwide.

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  • US Actively Considering Waivers on Iran Oil Sanctions
US Actively Considering Waivers on Iran Oil Sanctions

The official said the administration "is ready to work with countries that reduce their imports on a case-by-case basis". The administration is "in the midst of an internal process" of considering exceptions called SRE waivers, or significant reduction exemptions, said a government official, who spoke on the condition of anonymity.

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  • Oil drops as USA considers granting some waivers on Iran crude sanctions
Oil drops as USA considers granting some waivers on Iran crude sanctions

Secretary of State Mike Pompeo announced on Wednesday the termination of the USA and Iran's 1955 Treaty of Amity, Economic Relations, and Consular Rights following Iran's use of the document as justification to take the U.S.to the United Nations' International Court of Justice (ICJ) over sanctions imposed by the Trump administration .

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  • United States unemployment rate falls but earnings inequality widens
United States unemployment rate falls but earnings inequality widens

Despite the added jobs, the unemployment rate was up 0.2 percentage points to 5.5 per cent, with 1,300 more working-age people unemployed than previous year in September. A month ahead of hard-fought congressional elections, the result was sure to delight US President Donald Trump, who has eagerly taken credit for America's extended run of economic...

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  • Mattress Firm to close 700 locations, files Chapter 11 in court
Mattress Firm to close 700 locations, files Chapter 11 in court

According to the filing, the company owes a whopping $90million to mattress supplier Serta Simmons, its largest creditor. He referred the Idaho Statesman to an area manager, who did not immediately call back. In a press release Friday, officials announced the company has received $650million to fund ongoing operations and repay debt and costs ass...

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  • RBI maintains status quo; warns volatile oil prices pose risk to inflation
RBI maintains status quo; warns volatile oil prices pose risk to inflation

The rupee slipped to a fresh record low 73.76 per United States dollar in early trade on Thursday, after settling at a record low of 73.34 on Wednesday. India's benchmark 10-year sovereign yield fell to 8.04 per cent. Mr. Surendra Hiranandani, Chairman and MD of House of Hiranandani, spoke to Qrius about how sharply the currency and equity ma...

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  • Labor Dept.: Unemployment, job growth down in September
Labor Dept.: Unemployment, job growth down in September

Other features of the household survey , from which the jobless rate is derived, also showed 276,000 folks couldn't work during the week the Bureau of Labor Statistics does its monthly survey because of weather reasons. September marked the third straight month of unemployment below 4 percent . So far this year, the average number of jobs cre...

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  • 'Dancing Queen' May says austerity is over - with a 'good' Brexit deal
'Dancing Queen' May says austerity is over - with a 'good' Brexit deal

Telling party delegates to "chuck Chequers " (after calling her plans "deranged" last week) Johnson said he wanted to "stop a ridiculous seeping away of our self-belief". "I think that's in the interests of Ireland, the European Union, and the UK". May warns she will never accept a deal which infringes on British sovereignty and is calling for a...

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  • Too little, too late, says Opposition on fuel price cut
Too little, too late, says Opposition on fuel price cut

Govt cuts taxes on diesel and petrol by ₹1.50 per litre and asks state-run oil marketing companies to cut prices by ₹1 per litre. When the global crude oil prices were at a historic low, the government continued to collect higher taxes on fuel, a strategy that in part helped it lower the fiscal deficit to 3.5% of GDP in the latest fiscal year....

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  • Canadian Dairy Farmers Aren't Happy With U.S. Trade Deal. Here's Why
Canadian Dairy Farmers Aren't Happy With U.S. Trade Deal. Here's Why

They say the newly-named United States-Mexico-Canada Agreement , or USMCA , will result in freer markets and fairer trade. Vermont Sen. Bernie Sanders, an independent who sought the 2016 Democratic presidential nomination, said that while the plan included "some improvements that could be good for USA workers, it lacks enforcement mechanisms th...

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  • Pence accuses China of seeking to change US president
Pence accuses China of seeking to change US president

It's allowing 3.6 per cent more US dairy to come into Canada's market. Duane Martin, president of the Delaware County Farm Bureau, said the USA dairy industry has always been marginalized in trade deals such as NAFTA, where Canada was granted a provision to protect its industry through a quota system, controlling the amount of milk produced.

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  • Toyota recalls 2.4 million hybrid vehicles due to stalling problems
Toyota recalls 2.4 million hybrid vehicles due to stalling problems

See the chart below. The recall is meant to address situations in which the failure of a specific component, coupled with hard acceleration, could cause the vehicle to lose power rather than enter a fail-safe driving mode. "While power steering and braking would remain operational", Toyota says, "a vehicle stall while driving at higher speeds cou...

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  • VP Pence: China 'Meddling in America's Democracy'
VP Pence: China 'Meddling in America's Democracy'

A digest of the top political stories from the Globe, sent to your inbox Monday-Friday. It goes beyond the bitter trade war between the world's two biggest economies and includes disputes such as cyber activities, Taiwan and the South China Sea.

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  • Elon Musk Mocks the SEC on Twitter: ‘Shortseller Enrichment Commission’
Elon Musk Mocks the SEC on Twitter: ‘Shortseller Enrichment Commission’

Securities and Exchange Commission over that August tweet claiming he had the funds to take his electric auto company private , but that hasn't stopped the eccentric billionaire from tweeting. The lack of support from investors eventually led to his "grudging approval" to reach a settlement with the SEC. The judge said it was her regular pr...

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  • Donald Trump says new trade deal is 'most important ever'
Donald Trump says new trade deal is 'most important ever'

The lobby group for Canadian dairy farmers is "deeply disappointed" in a new global trade agreement with the U.S. After intense last-minute discussions just ahead of a self-imposed Sunday midnight deadline, the United States and Canada announced they had reached a deal , allowing a modified three-way pact with Mexico to replace the almost ...

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  • China planted chips in Apple and Amazon servers, report claims
China planted chips in Apple and Amazon servers, report claims

The lengthy statement can be found here (published separately from the original report), along with statements from Amazon , Super Micro and China's Ministry of Foreign Affairs, which are also named in the story. "It's untrue that AWS knew about a supply chain compromise, an issue with malicious chips, or hardware modifications when acquiring El...

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  • Petrol, diesel cheaper by Rs 5 in Maharashtra and Gujarat
Petrol, diesel cheaper by Rs 5 in Maharashtra and Gujarat

Nearly half of the fuel price is made up of taxes. The government of India has finally pitched in to cut down the prices of fuel in India by cutting the excise on petrol and diesel . While the decisions by the BJP-ruled states was expected, there was also a near immediate refusal by non-BJP states to cut fuel rates. This led to its excise coll...

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  • India's currency falls to all-time low against USA dollar
India's currency falls to all-time low against USA dollar

The Indian rupee plunged to a record low of 73.77 to a USA dollar on Thursday morning. Tweeting in Hindi, the Times of India reported that he said: "The rupee has crossed the 73 mark and price rise is causing an outcry". Oil prices stood around four year highs on Thursday. Indian bond yields spiked as prices fell. "Respite is unlikely in the shor...

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  • Trump's 'new' trade deal isn't as new as he seems to think
Trump's 'new' trade deal isn't as new as he seems to think

The new deal, once ratified, will make it easier for the U.S.to enter Canada's restrictive dairy market , in which US imports are discouraged through supply management practices like high tariffs. "This agreement eliminates all agricultural tariffs, other than dairy, to Canada", said Will. The inclusion of the clause surprised many trade ex...

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