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Business Insider
Russian arms manufacturers are 'scrambling to expand their production capabilities using whatever they can get,' expert says
Russia is expanding its weapons production by buying secondhand equipment through China in order to evade Western sanctions, a new report states.
CBC
Lobster dealer sentenced to 5 years in prison for large fraud
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
Reuters
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.
GOBankingRates
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...
Bloomberg
China Eyes Trade War Targets Across Europe for Retaliation
(Bloomberg) -- As in past disputes, China looks to be readying a series of actions to punish the European Union for its proposed tariffs on electric cars.Most Read from BloombergCar Dealerships Across US Halt Services After CyberattackWhat to Know About the Deadly Flesh-Eating Bacteria Spreading in JapanHedge Fund Talent Schools Are Looking for the Perfect TraderPutin’s Hybrid War Opens a Second Front on NATO’s Eastern BorderNvidia’s 591,078% Rally to Most Valuable Stock Came in WavesThings were
GOBankingRates
Gen X and Boomers: 3 Key Signs You Won’t Be Able To Afford To Retire Before Age 70
According to a recent survey from CivicScience, 25% of people do not expect to retire before 70. For Gen Xers and baby boomers, retirement is likely just around the corner. This means they have only a...
GOBankingRates
Retirees Reveal the Smartest Money Moves They Made in Their Early Years
Retiring comfortably takes proper retirement planning, so the earlier you start the better. The amount you'll need largely depends on where you live. According to a recent GOBankingRates study...
Business Insider
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.
Business Insider
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.
Reuters
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.
Reuters
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.
Reuters
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.
Reuters
Detroit Three automakers should exit China, leading analyst says
Legacy U.S. automakers such as Ford Motor and General Motors should leave the China market to preserve capital amid the costly electric vehicle (EV) transition, a leading auto analyst said on Tuesday. “I think you have to see the [Detroit Three] exit China as soon as they possibly can,” said John Murphy, Bank of America Securities analyst, at his annual presentation of “Car Wars,” a closely watched industry report. Murphy's guidance for the Big Three came during a discussion of the harsh cost-cutting measures they would have to take to be competitive with EV manufacturers like Tesla, as well as carmakers abroad.
Business Insider
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.
Fortune
The common mistake that could cost you your retirement: Here’s how to make sure you’re really contributing to a 401(k)
New research finds nearly 60% of workers who are not contributing to their 401(k) think they are.
Deadline
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 …
CNN Business
These employees moved across the country for work, then Disney canceled the project. Now they’re suing.
Two employees are suing the Walt Disney Company, saying the company moved their jobs from California to Florida, only for Disney to cancel the project and move them back, hurting them financially and emotionally.
Global News
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.
Reuters
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.
Associated Press
Retail sales rise a meager 0.1% in May from April as still high inflation curbs spending
Consumers barely increased spending in May from April as still high prices on groceries and other necessities and high interest rates curbed spending. Retail sales rose 0.1% in May, below the pace that economists projected, the Commerce Department said Tuesday. Excluding gas prices and auto sales, retail sales rose the same amount.

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Guidewire to Present at William Blair Growth Stock Conference

Latest Stories

Russian arms manufacturers are 'scrambling to expand their production capabilities using whatever they can get,' expert says

Lobster dealer sentenced to 5 years in prison for large fraud

Trans Mountain revises heavy crude standards on pipeline after quality concerns

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

China Eyes Trade War Targets Across Europe for Retaliation

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

Retirees Reveal the Smartest Money Moves They Made in Their Early Years

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

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

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

Beijing urges Britain to stop sanctioning Chinese firms over Russian links

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

Detroit Three automakers should exit China, leading analyst says

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

The common mistake that could cost you your retirement: Here’s how to make sure you’re really contributing to a 401(k)

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

These employees moved across the country for work, then Disney canceled the project. Now they’re suing.

Business Matters: Nvidia overtakes Microsoft as most valuable company

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

Retail sales rise a meager 0.1% in May from April as still high inflation curbs spending