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House passes farm bill, sending it to Trump’s desk

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The bill on Tuesday passed the U.S. Senate on a 87-13 vote, with a 369-47 vote the next day in the House. House Democrats walked away from negotiations on the farm bill earlier this year over the SNAP controversy, and even Senate Republicans signaled that they did not want to make substantive changes to the farm bill's nutrition program. Read More »

British PM Theresa May survives party confidence vote

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However, as The Independent explained, if more than 100 party members vote against her, May's authority could be irrevocably damaged and she may face pressure from Cabinet ministers to step down regardless. "She said that she did not intend to lead us into the 2022 election", lawmaker Alec Shelbrooke said, adding "her opening remarks were, "I am not going to hold a snap election". Read More »

Google CEO Sundar Pichai testifies before Congress for the first time

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Google does not choose conservative voices over liberal ones (and vice versa). During the hearing, Pichai also had to answer questions about alleged bias in its search results, after President Donald Trump accused Google in August of rigging search results at the expense of Republican and conservative opinions. Read More »

Huawei CFO gets bail; China detains ex-Canadian diplomat

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Kovrig's detention comes in the wake of a diplomatic furor after Huawei Technologies' chief financial officer, Meng Wanzhou , was detained in Vancouver on December 1 at the request of USA officials. They include that she remain in British Columbia, live in a house her husband owns, and not leave that house between 11 at night and six in the morning. Read More »

May accused of misleading MPs over Brexit deal

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As investors and allies tried to work out the ultimate destination for the world's fifth-largest economy, the Northern Irish party which props up Mrs May's government said legal advice about the deal was "devastating". Ministers will make the government's case during four more days of debate, but few believe they can overcome the intense opposition to the deal. Brexit supporters and May's nominal allies in Northern Ireland's Democratic Unionist Party say it could leave Britain forced ... Read More »

China demands Canada release Huawei executive arrested in Vancouver

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The Globe and Mail newspaper, citing law enforcement sources, reported that she is suspected of violating USA sanctions against Iran. The arrest , revealed by Canadian authorities late on Wednesday, was part of a USA investigation into an alleged scheme to use the global banking system to evade U.S. Read More »

Alberta orders 8.7% oil production cut to help deal with low prices

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The steep discount has stripped billions of dollars from the Canadian economy by some estimates, and at one point Canadian oil was selling for more than $50 less than USA oil traded on futures markets. Canada's oil trades at a steep discount to the USA benchmark in part due to differences in thickness and quality of the raw product produced north of the border, but also because of a "dearth" of pipeline capacity to facilitate the transfer of oil to refiners in offshore markets. Read More »

Donald Trump Spins 90 Day China Truce as 'Big Leap Forward'

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Chinese Foreign Ministry spokesman Geng Shuang declined to comment Monday on Trump's statement, referring questions to "the relevant authorities". However, Andrew Hunter, US economist for Capital Economics, said he is optimistic that the apparent "ceasefire" will hold, even though the two sides have been in similar positions before. Read More »

Trump Suspends Adding New Tariffs to Chinese Imports

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Xi Jinping . Photo: G20 Argentina, via Flickr. Russian President Vladimir Putin denounced the "vicious" use of sanctions and trade protectionism, in a veiled swipe at United States President Donald Trump at a G20 summit. relations with coordination, cooperation and stability as the defining features. The U.S. firm, led by billionaire Elon Musk, has said it will cut prices to make its cars "more affordable" and absorb more of the hit from the tariffs. Read More »

G20: Trump and Xi to meet amid US-China trade tensions

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But, he said, "that turned out to be a fleeting aspiration". The President has openly expressed his fondness for hearing differing points of view on trade, and has fostered the intra-administration disputes that have marked his policy toward China . Read More »

Trump threatens 25-percent tariff on imported cars

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It now runs an assembly plant in SC, and will officially open a factory in Mexico next year. But GM shares fell sharply after Trump's tweets , closing down 2.6 per cent at $36.69. The president threatened to eliminate tax credits for GM's electric vehicles along with other tax breaks and subsidies. "I am here to protect America's Workers!" "Don't move, don't sell your house", he said. Read More »

Trump's trade war: Stakes are high at G20 summit

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On the trade war front, White House economic advisor Larry Kudlow said on Tuesday trade talks between the USA and China have been heating up ahead of the summit. If no deal is reached during that meeting, he intends to impose tariffs of 10% to 20% on all remaining imported goods from China. En route to Argentina , Xi said in Spain on Wednesday that his government would indeed boost protection of intellectual property, although foreign companies in China complain they have heard such ... Read More »

What Underlies US-China Tensions Ahead of Crucial G-20 Meeting?

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But given the dysfunction at those other summits, the G20 leaders are expected to stop short of repeating their vows to fight protectionism, which were a founding principle in 2008. "We're in very good shape", Kudlow said. Although he now has 3,000 manufacturing workers in China, he plans to open a factory with 500 in Vietnam so his business remains financially attractive to US buyers. Read More »

Rand adds to gains after cheering dovish US Fed

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Home sales, vehicle sales, business investment and other parts of the economy that are sensitive to interest rates have begun to soften, evidence that the Fed's eight rate increases since 2015 are changing household and business behavior. The speech was focused on stability in the financial system, and Powell cited four potential vulnerabilities for the economy, including excessive leverage and debt loads in some sectors. Read More »

Trump administration to examine tools to raise USA tariffs on Chinese vehicles

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And this year's G20 host Argentina is enduring its own economic crisis, necessitating the deployment of more than 22,000 police against the threat of mass protests when the heads of government convene on Friday and Saturday. At the same time, the Trump-Xi summit is still shrouded in secrecy despite its importance. Trump's administration is mulling whether to apply fresh tariffs on imported autos under national-security grounds, as it did on steel and aluminum imports this year. Read More »

Trump threatens General Motors subsidies over plant closings

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Trump added he is putting "a lot of pressure" on the company to reverse course. Last month, as GM reported a US$2.5-billion third-quarter profit, the automaker also said it was aiming to cut costs by offering buyouts to roughly 18,000 white-collar workers with 12 or more years of service. Read More »

Saudi crown prince arrives in Tunisia amid protests

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A Central Intelligence Agency assessment earlier this month implicated bin Salman in the slaying. A frequent contributor to The Washington Post , Khashoggi went missing on October 2 after entering the Saudi consulate in Istanbul. I think this is yet another indication that this unauthorized, unconstitutional war - from our standpoint - is not something that we ought to be fighting. Read More »

Trump hits out at General Motors over job cuts in US

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In February, the Oshawa Assembly plant starts making Light Duty GMC Sierra and Chevrolet Silverados in addition to Cadillac XTS and Chevrolet Impala. "The layoffs are the inevitable outcome of an economic model that views workers as disposable and shareholder excitement as indispensable", said Scott Paul, president of the Alliance for American Manufacturing, a nonprofit that advocates for worker protections in the industry. Read More »

'Only one Brexit deal on the table' - Varadkar

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And he said "I am not a fortune teller" in regards to what would happen if the British Parliament doesn't approve the agreement. "This is that deal". Prime Minister Theresa May said. "We have already been laying the groundwork for an ambitious agreement with the U.S. through our joint working groups, which have met five times so far", the spokesman added. Read More »

General Motors set to end factory operations in Oshawa

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Senator Sherrod Brown describes the decision to close the plant's doors as, "Corporate greed at it's finest". Ontario, home to the Oshawa plant, was told by the automaker that there was nothing it could do to prevent it, premier Doug Ford said . Read More »

Range Rover Evoque Unveiled, India Launch Likely In 2019

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All the engines come mated to a 9-speed ZF automatic gearbox and most of the variants are offered with four-wheel drive as standard. Of course, the plug-in hybrid would be in an even better position because it can attract 8% excise rate given to imported electrified vehicles emitting less than 100g/km. Read More »

Spanish PM announces deal on Gibraltar ahead of Brexit summit

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Theresa May says she will campaign "heart and soul" to get Brexit deal through Britain parliament. The British overseas territory of Gibraltar, a rocky projection located at the southern tip of the Iberian Peninsula, which voted overwhelmingly to remain in the EU. Read More »

Prime Minister Theresa May warns alternative risks no deal Brexit

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Madrid wants a veto over applying any agreement on post-transition relations to Gibraltar, but May told MPs on Wednesday that Britain "will not exclude Gibraltar from our negotiations on the future relationship". "Seeking to remove her risks the most appalling chaos that could be immensely damaging to our national reputation, but also destabilising and potentially stopping us getting through to the other side of Brexit", he told The Guardian during an official visit to Tehran. Read More »

Bitcoin falls below $5,000 for first time since Oct 2017

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Mining blocks 32MB and beyond is important for Bitcoin Cash , as it shows that professional mining efforts are more advanced than others and that the network is capable of routinely mining larger blocks. At least some of it has been attributed to a battle for control of a smaller crypto operator called bitcoin cash. For those who want to buy the dip in the hopes of a major market rebound, today may be a good time to do so regardless. Read More »

In full: Theresa May stands defiant on Brexit agreement

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At least 48 such letters from Conservative lawmakers would be needed to trigger a vote of no-confidence in the parliament. May told legislators that they will have to consider the British people's vote to leave the European Union in a June 2016 referendum when parliament is asked to vote on a final Brexit agreement, which could potentially happen in December. Read More »

Oil price drops amid fears over demand

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Since October, the oil price has fallen to below $70 a barrel, its lowest in eight months. Oil prices have dropped significantly in recent weeks, with the US benchmark price dipping below $60 per barrel, according to Market Watch. More than 830,000 contracts had changed hands as of 1:45 p.m. EST (1845 GMT), as funds shed positions with oil dropping to December 2017 lows. " Russia and OPEC and Saudi Arabia - they are observing the market". Read More »

United States cities offered billions in tax cuts to lure Amazon

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Amazon is to open headquarters in NY city and Virginia , ending a year-long contest to house the world's largest online retailer . But where does that leave Boston? State and city officials said that Amazon's deal with Plaxall was being privately arranged between the two parties and was separate from the transaction Amazon struck to lease city-owned land next to the Plaxall sites. Read More »

Trump ally Kevin McCarthy tries lead shrunken House GOP

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Third, the House "popular vote" versus seats won does not favor Republicans. By a lopsided margin of more than 3-to-2, voters named the Democrats, not the Republicans, as the politicians they trust to defend coverage for pre-existing conditions. Read More »

Major oil producers to consider cuts after price slide

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Opec's de-facto leader Saudi Arabia is expected to draw back its exports for the month of December by as much as 500,000 bpd as it anticipates lower winter demand, its oil minister said on Sunday. Large independent producers such as EOG Resources (EOG) and Devon Energy (DVN) are also somewhat levered to prices because they only produce the raw commodity. Read More »

Pelosi Unveils Plans to Establish New House Diversity Office

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Democrats say questions remain about Russian money laundering and Trump's businesses. And by combining this policy agenda with rigorous oversight of Trump and his administration by progressive Democrats like incoming Judiciary Committee chair Jerry Nadler of NY and incoming Oversight and Government Reform Committee chair Elijah Cummings of Maryland-both of whom are prepared to navigate an accountability moment that could see Robert Mueller's inquiry open up a serious debate about ... Read More »