Defiant May Insists On Brexit Strategy After Blow Of Davis Resignation. Iran calls for EU help as shipping giant pulls out for fear of U.S. sanctions. Russia building up military sites on Poland’s border before Trump-Putin meeting. Dominic Raab replaces David Davis as Brexit secretary. If Trump’s tariffs sink China, be on high alert for the U.S. to follow suit.
U.S. Triggers China Tariffs, Fuels Fears Of Escalating Trade War. ‘There is concern across Europe’ about what Trump might promise Putin. Amazon’s purchase of Whole Foods flipped the meal kit industry upside down; celebrity spokes models, football stars help sell vegan dinners. CNN’s Stelter blasts Trump-Hannity relationship: ‘Let’s just underscore how weird this is.’ Trump NATO envoy: Russia is trying to ‘flip’ Turkey. North Korea: Mike Pompeo rejects ‘gangster-like’ accusation. Graham on NKorea’s Rebuke: ‘I see China’s hands all over this.’
Whiskey Wars: Trade Tariffs Hit Hard In Trump Country. May wins support from divided UK government on Brexit plan. Sterling hits two-week high vs. dollar after Brexit strategy deal. U.S. jobs growth lifts Wall Street, offsetting tariffs. Dollar slumps after U.S. non-farm payrolls data, tariffs kick in. Violent protests erupt in Haiti as fuel prices spike. Trump’s personal calls to world leaders leave White House aides in the dark.
Trump Launches The Opening Salvo In U.S. Trade War With China As Tariffs Take Effect. Argentina’s currency crisis is far from over. U.S. Navy: Will protect commerce in face of Iran oil threat. Trump orders OPEC to tame gas prices, but analysts blame his Iran sanctions for rising fuel costs. China says U.S. ‘opening fire’ on world with tariffs, vows to respond.
Saudi Plans First Change In Asia Crude Oil Price Formula In Decades, To Use DME Oman. Mueller taps more prosecutors to help with growing Trump probe. Jobless claims hit 6-week high of 231,000, but layoffs still near lowest level in decades. Argentina’s currency crisis is far from over. US Navy: Will protect commerce in face of Iran oil threat. U.S. oil prices down after EIA reports surprise weekly climb in U.S. crude supplies. Trump orders OPEC to tame gas prices, but analysts blame his Iran sanctions for rising fuel costs. Noble Energy adds to Permian-to-Gulf crude pipeline capacity.
U.S. Crude Sellers Slash Prices To Asia. General Motors’ China vehicle sales growth rate eases in second-quarter. Trade worries dent stocks, Yuan steadies. Investors challenged by rising rates and trade war. Chinese tariffs on U.S. goods to take effect at start of July 6 – source. Blame ‘superstar’ tech firms for slow wage growth: OECD. U.S. pressing allies to end Iran oil imports by November deadline, official says. The Memo: Trump faces crucial stretch. ‘We are the casualty:’ U.S. pig farmers brace for second round of pork tariffs from China, Mexico.
Trump Will Release SPR Oil Reserves. U.S. households lose as gas prices rise. Oil tops $75 for first time since 2014 and then plunges. U.S. moves to keep China Mobile out. China’s June export growth to U.S. slows sharply – China customs. China trade worries depress Asian markets. A shouting Elon Musk and changing rules: Inside Telsa’s Model 3 sprint. Mall vacancies at highest point since 2012. Trump doesn’t care what people think about his relationship with Putin. Escalating trade war starts to make economic impact. Trump moves to block China Mobile’s U.S. entry, citing security concerns. BP begins gas delivery from $28bn Shah Deniz 2 project in Azerbaijan. China expected to cancel 1.1 million tonnes of soybeans from the U.S. as new tariff bites. China’s yuan continues to fall, sparking comparisons to 2015 rout. Manhattan real estate has worst second quarter since financial crisis.
EU Reportedly Warns Of New Tariffs Worth $300 Billion If Trump Targets Automakers. Canada retaliatory tariffs on U.S. goods come into force. Mexican leftist Lopez Obrador wins presidency. Robot cooks and assembles burgers in 5 minutes at this new San Francisco restaurant. Oil falls as OPEC output rises, more production planned. Asian factories lose momentum even before Trump’s tariffs kick in.
Saudi Arabia Can Pump Much More Oil Than They Are Telling You. A surprise deal to boost world oil supply could ‘stir the pot’ in the Middle East. Carrier USS Harry S. Truman operating in the Atlantic as Russian submarine activity is on the rise. Greenlight Capital suffers 7% drop in June, and is down over 18% this year. Rents in Southern California go nuts. Bay Area & Seattle “mixed.” Chicago & Honolulu in free-fall. New York City sharply lower. Washington DC loses grip. But rents soar 10-15% in many markets. Scaramucci warns Trump must ‘change tactics now’ on trade. Trump says OPEC manipulating oil market, warns Europe on Iran.
Trump Says Saudi King Agreed To Raise Oil Production Up To 2 Mln Barrels. Comcast blames widespread service outage on cut fiber lines. Top ICE lawyer sentenced to four years in prison for stealing immigrants’ identities. Papering over cracks, EU leaders claim summit victory on migration. U.S. intelligence believes North Korea making more nuclear bomb fuel despite talks: NBC. Citigroup to refund $335 million to credit card customers.
BP Holds Millions Of Barrels Of Oil Off China As Demand Falters. Deutsche Bank investors unshaken by U.S. stress test failure. Kroger to bring driverless cars to grocery delivery. John Kelly said to be on his way out, Trump is considering who will be next White House chief of staff. Euro rallies after all-night talks yield deal for Merkel, EU. EU leaders unite over Trump tariffs, foreign investments. Manafort assistant gave FBI access to storage locker: testimony. Citigroup to refund $335 million to credit card customers. It’s been decades since the White House has warned the Fed the way Kudlow just did. Trump will dump oil from Strategic stockpile.
Saudi-Russian Axis Rules Oil Markets As Trump Fights Iran. U.S. oil exports reached a record 3 million barrels a day last week — a greater amount than is pumped each day by all but three OPEC countries. Trump adviser sees having Putin summit as ‘a deliverable.’ Market rate rise may thwart Fed’s balance sheet plan. Fed’s Rosengren calls for more tools to lessen severity of next economic downturn. Merkel says migration could make or break the E.U.
U.S. Oil Prices Rally To Highest Level Since 2014 As Crude Supplies Notch Biggest Weekly Drop Of The Year. Oil surges above $70 after State Dept orders crude buyers to cut Iranian imports to zero. Time to prepare for ‘no deal’ Brexit scenario – French presidency official. Fed’s Rosengren calls for more tools to lessen severity of next economic downturn. India may ignore U.S. demand to halt Iran oil imports. Most millionaires don’t plan to spend their tax savings, CNBC survey finds. U.S. oil exports boom to record level, surpassing most OPEC nations.
Oil Surges Above $70 After State Dept Orders Crude Buyers To Cut Iranian Imports To Zero. Court upholds Trump travel ban, rejects discrimination claim. U.S. consumer confidence slips, house price gains slow. Treasury Secretary Mnuchin says investment restrictions will apply to ‘all countries that are trying to steal our technology.’ Trump warns Harley-Davidson of ‘big tax’ for moving production abroad. Apple starts building iPhone 6S in India to lower costs. Largest U.S. nail manufacturer ‘on the brink of extinction’ because of the steel tariffs.
Harley-Davidson To Move Some Production From U.S. Because Of E.U. Tariffs. Europe migrants: Italy warns Schengen is ‘at risk.’ China moves to shore up economy as slowdown and trade fight loom. Gold price expected to fall. Chicago Fed’s May national economic index retreats into negative as factories slowed. Oil drops as market braces for more OPEC crude and Wall Street slips. Carnival shares plunge the most in 2 years after slashing full-year forecast. Dow drops 400 points as Trump reportedly plans to curb Chinese investments in U.S. tech.
Trump Calls For Deportations Without Judicial Process – Maybe It’s Time We Figure Out Who Our Ancestors Really Were. Trump calls for deporting illegal immigrants with ‘no judges or court cases.’ Romey: I will speak out against Trump on issues of ‘substantial significance.’ Russian airstrikes hit southwest Syria, breaking a ceasefire deal. U.S. shale companies motor ahead despite OPEC. Corker on Trump’s ‘abuse of his authority’ on tariffs: ‘There’s a jailbreak brewing’ in opposition. As Trump jails little children, House Republicans intensify their probe of Hillary Clinton. Corker: ‘Large mistake’ made with Trump’s ‘ready, fire, aim’ border policy.
Trump Threatens 20 Percent Tariff On European Union Cars. Tom Arnold: ‘Trump is an illegitimate president.’ Trump says GOP should ‘stop wasting their time on immigration’ until after midterms. Bitcoin tumbles after Japan watchdog orders exchanges to review business practices. Mr. Falih also suggested that traders, who pushed up oil prices sharply on Friday after the OPEC decision, may have underestimated the major producers’ determination to act.
Supreme Court Says Warrant Necessary For Phone Location Data In Win For Privacy. Trade concerns could give the Dow its longest losing streak since the 70s. Trump’s foreign policy will make Europe stronger, U.S. official says. Russia says it will impose retaliatory tariffs on U.S. imports. Italy and Germany clash as migration rows split EU. OPEC, having bolstered oil prices, considers ramping up production.
High Court: Online Shoppers Can Be Forced To Pay Sales Tax. Trump’s foreign policy will make Europe stronger, U.S. official says. Russia says it will impose retaliatory tariffs on U.S. imports. NYMEX crude oil climbs above $66/bbl on big inventory drop. Beijing puts import taxes on U.S. crude, refined products. In hitting China on trade, Trump is seen neglecting U.S. emerging industries. Italy and Germany clash as migration rows split EU. Trade concerns could give the Dow its longest losing streak since the 70s.
Trump To Sign Executive Order Ending Family Separations. GE drops out of the Dow after more than a century. Oil slips on U.S.-China trade dispute, OPEC supply outlook. Americans still aren’t saving. Merrill Lynch fined $42 Million by SEC for misleading clients over orders. Trump determined to hit China as tit-for-tat tariff war erupts. Russia says it will impose retaliatory tariffs on U.S. imports. Obesity rates surging in rural America. Central Bank leaders warn trade conflicts could damage global economy. FedEx shares hit by U.S.-China trade tensions ahead of earnings.
Trump Determined To Hit China As Tit-For-Tat Tariff War Erupts. Trump: Dems want illegal immigrants to ‘infest our country.’ EU leaders worried over Irish border issue in Brexit talks. Trump rejects calls for more immigration judges: ‘We have to have a real border, not judges.’ American CEOs call out Trump’s ‘heartless, cruel’ border policy. Russia says it will impose retaliatory tariffs on U.S. imports. Trump administration puts skimpy health insurance plans in place. McConnell backs bill to keep immigrant families together.
Distressed Debt Funds Tap Into Fears Over Credit Cycle. Dem lawmakers make surprise visit to ICE detention center. Spotlight falls on Russian threat to undersea cables. Japan’s exports accelerate in May, surplus with U.S. lowest since 2013. U.N. rights chief tells U.S. to stop taking migrant children from parents. Trump defends family separation policy: U.S. ‘will not be a migrant camp.’ Mergers to leave AT&T, Comcast as world’s most debt-burdened companies. Poll: Majority of Republicans back family separation policy. Fed’s Bostic says economic optimism has ‘almost completely faded’ because of trade fears.
Russia, Saudi Arabia Are Getting Increasingly Chummy, And That Has Big Implications For OPEC And Oil Prices. Elon Musk e-mails Tesla employees urging ‘radical improvements’ to hit quarterly targets. Volcker ‘fix’ may cause new headaches for Wall Street. Nearly 70 percent of Italians back Salvini’s stand against EU on migrant ferries.
U.S. Trade Tariffs Push Industrials, Materials Stocks Lower. Trump defends new tariffs, says China started trade war. A new holding place for hundreds of immigrant children: A vacant warehouse in Houston. As trade war with China looms, U.S. readies second wave of duties. Citigroup to pay $100 million to settle U.S. Libor rigging probe. Volcker ‘fix’ may cause new headaches for Wall Street.
Trump’s Defense Secretary Slams Putin: ‘He Attempts To Undermine America’s Moral Authority.’ Former Trump campaign chief Manafort sent to jail by U.S. judge. Chinese stocks tumble amid trade fight, ETF falls for seven straight days. John Kennedy: Big banks trampling on Second Amendment. U.S. trade tariffs push industrials, materials stocks lower. Trump defends new tariffs, says China started trade war. Cohen signals openness to cooperating with federal investigators.
ECB To End Bond Buying But Pushes Out First Rate Hike. Oil prices are unlikely to increase as ‘sharply’ from now on, IEA says. OPEC will squeeze oil buffer to historic lows with an output hike. Who is behind Trump’s links to Arab Princes? A billionaire friend. Exclusive: Saudi Aramco eyes partnerships as it expands refining, petrochems. Rolls-Royce cuts 4,600 jobs at ‘pivotal moment’ for business.
Trump Claim Raises Eyebrows: NKorea No Longer A Nuke Threat. Former Trump lawyer Michael Cohen likely to cooperate as his attorneys leave case, sources say. U.S. budget deficit widens 23% October through May on weak revenue growth. AT&T wins: Judge clears $85 billion bid for Time Warner with no conditions. Rising rates and deficit spell big trouble for the U.S., warns bond king Gundlach. Toyota pumps $1 billion in Grab in auto industry’s biggest ride-hailing bet. Fed hikes rates, points to two more increases by year’s end. Donald Trump: ‘Fake news’ the biggest enemy of the United States.
Trump Surprises With Pledge To End Military Exercises In South Korea. U.S. promises not to bring up human rights at North Korea summit. Susan Rice: ‘Very worrisome’ for Trump to ‘disrespect our allies while embracing Russia and giving benefits to China.’
France On G7: ‘Fits Of Anger’ Cannot Dictate International Cooperation. Bitcoin price plunges after cryptocurrency exchange is hacked. Trump’s tweets slam Canada and Trudeau anew from Singapore. White House: Trump leaving Singapore early as North Korea talks move quicker than planned. The absolute chaos of Donald Trump’s G7 meeting (and what it means moving forward). Jaguar to cut more UK jobs as it moves Discovery output to Slovakia. U.S. promises not to bring up human rights at North Korea summit.
Trump Refuses To Back G-7 Declaration, Calls Trudeau ‘Weak’ And Threatens Car Tariffs. Soros: “Everything that could go wrong has gone wrong.” Some fund managers are avoiding Amazon as it leads U.S. market. Trump casts North Korea summit as ‘one-time shot’ for Kim. Drama, action, emotional power’: As exhausted aides eye the exits, Trump is re-energized. John McCain rips Trump on G-7 move.
German Chancellor Merkel’s Stare Down Photo Sums Up Trump’s Time At G-7. Trump delivers warning to allies on trade as he leaves G-7 summit. Macron turns on Trump after U.S. President attacks EU and Canada: ‘We don’t mind being G6, if needs be.’ Schumer: Trump ‘turning our foreign policy into an international joke.’ China hosts Russia, Iran for summit as U.S. tensions rise.
Trump Plows Into G-7 Summit, Facing Foreign Critics. Trump suggests Russia rejoin G-7. Merkel urges Europe to step up in Trump’s New World Order. President Donald Trump plans to depart from this weekend’s Group of 7 summit in Canada several hours early. With Mueller closing in, Manafort’s allies abandon him. New charges filed against Manafort in Russia probe.
Trump Trade War Threat Sets Up G7 Summit Clash. Chinese phone maker ZTE saved from brink after deal with U.S. McDonald’s plans fresh round of layoffs. Trump reportedly requested Saudi oil support before Iran nuclear decision. Graham ‘not buying’ Giuliani claim that Mueller is trying to frame president. Trump says Kim summit depends on attitude, not preparation.
California Democrats On Track To Advance In Key Races For House Control. $119,050,900,000: Merchandise trade deficit with China hit record through April. Paul Ryan: FBI did nothing wrong spying on Trump campaign. CEO optimism ebbs for first time in two years amid worries trade conflicts will hurt sales, drive up costs. Giuliani says Mueller’s investigators trying to frame Trump. Conservatives bash Trump’s plan to save failing coal, nuclear power plants.
Iran To Boost Uranium Enrichment If Nuclear Deal Fails. Trump: China soybean tax, Canadian agricultural products trade barriers unacceptable. Pentagon chief sees ‘bumpy road’ toward North Korea nuclear negotiations. Exclusive: Mexico set to impose 20 percent tariff on U.S. pork legs – sources. Manafort attempted to tamper with potential witnesses – U.S. special counsel.
Billionaire Koch Brothers’ Political Network Will Spend Millions To Oppose Trump’s Tariffs – The Group’s Biggest Split With The President So Far. Japan fears being sidelined as dealmaker Donald Trump prepares to meet North Korea’s Kim Jong-un. Higher oil prices could still stifle economy, upset car makers. Cutting corporate debt will drag China’s economic growth down to 4.5 per cent, says Fitch. Bill Clinton says impeachment process over Russia probe would be underway if Democrat were in office. Trump says has power to pardon himself; critics disagree.
China Warns U.S. Trade Deal Is Off If Tariffs Go Ahead. Trump’s lawyer says will fight Russia probe subpoena. President Trump ‘probably does’ have the power to pardon himself: Giuliani. Syria’s President Assad ‘to visit North Korea.’ America’s poor becoming more destitute under Trump: U.N. expert. Arab oil ministers stress need for continued OPEC, non-OPEC cooperation.
Border Agents Are Separating Immigrants From Their Children – A Plan Once Floated By The Trump Administration. U.S. unemployment rates matches the rate in 1929, right before the start of the GREAT DEPRESSION. Morgan Stanley says we’re in a bear market but investors just don’t realize it yet. Trump says June 12 summit with North Korea’s Kim is back on. Nonfarm payrolls rose seasonally adjusted 223,000; unemployment rate at 3.8%. Sears is closing 72 more stores. Goldman: NAFTA deal is now less likely after Trump’s tariffs on Mexico and Canada. John Boehner says “There is no Republican Party. There’s a Trump party.” Paul Ryan undercuts Trump on tariffs. Jim Mattis warns of consequences if Beijing keeps militarizing the South China Sea.
Trump Says June 12 Summit With North Korea’s Kim Is Back On. Whole Foods quietly pauses its GMO labeling requirements. U.S. oil output jumps to record high. Congressional Republicans lining up against Trump on trade. Morgan Stanley says we’re in a bear market but investors just don’t realize it yet. Goldman: NAFTA deal is now less likely after Trump’s tariffs on Mexico and Canada. Cleveland Fed’s Mester says the Italian turmoil and a flattening yield curve haven’t changed her interest-rate view.
‘Caution Is Going To Be The Word Here,’ Says Former Super Bull Jeremy Siegel. Mexico hits back at U.S. tariffs with measures on farm, steel products. Sears is closing more stores as sales shrink for 26th quarter in a row. Fed calls Deutsche Bank’s U.S. operations ‘troubled.’ Pending home sales fall more than expected as costs for buyers rise. Dying shopping malls are wreaking havoc on suburban America. Canada announces retaliatory tariffs on steel and aluminum. U.S. to impose steel, aluminum tariffs on EU, Canada and Mexico.
Italy Revived The Euro Crisis And Sparked A Global Stock Market Selloff. Trillions of reasons why a ‘huge storm’ may be looming for investors. Millions of U.S. homeowners still under water on mortgages. Robot chef cooks 300 burgers a day. U.S. GDP growth revised down to 2.2% rate in first quarter. China reportedly lining up countries against U.S. in pending trade war. Trump’s Budget: $984 billion deficit next year.
Soros Sees New Global Financial Crisis Brewing, EU Under Threat Sovereign Debt Crises Is Upon Us. Prepare to profit BIG time. Traders are worried this could be the ‘big unwinding’ of Italian bond markets. Oil prices down hard, pressure builds on expected crude output increase. Stock market borrowing at all time high, increasing risk of downdrafts. Delays and ‘poison pills’: team Trump runs out of road in NAFTA talks.
U.S. Record Oil Exports Bite Into Russia, OPEC Market Share In Asia. Trump’s ‘Spygate’ is a ‘diversion tactic’: Senator Flake. Oil extends losses as OPEC and Russia look to raise output. Traders are worried this could be the ‘big unwinding’ of Italian bond markets. China approves 13 new Ivanka Trump trademarks in 3 months.
Former CIA Director On North Korea: ‘These Folks Are Not Going To Get Rid Of All Their Nuclear Weapons.’ Rubio: FBI didn’t target Trump campaign, only suspicious individuals in it. Half of Americans won’t take a vacation this summer—and not just because they can’t afford it. Gas prices soar on Memorial Day weekend. These places are hit hardest. Schiff: ‘No evidence’ to support Trump’s spy theory. Fed relying on biased data that makes ‘B-minus economy’ look like an ‘A+’ : James Bianco.
Kim Jong Un, South Korea’s Moon Meet Amid Uncertainty Over U.S. Summit. Brazilian president sends in army as truck protest paralyzes country. U.S. reaches deal to keep China’s ZTE in business: congressional aide. Oil price fall hits energy shares, dollar rises. Oil output could return to October 2016 level, says Russia’s Novak.
OPEC, Russia Prepared To Raise Oil Output Under U.S. Pressure. Trump’s clueless handling of Kim is to blame for summit fiasco. Pelosi says Kim ‘big winner’ after Trump cancels NKorea summit. At Trump Tower, Michael Cohen and oligarch discussed Russian relations. Surging gas prices could fuel backlash against Trump.
Trump Signs The Biggest Rollback Of Bank Rules Since The Financial Crisis. U.S. has more than 5,600 banks. Consolidation is coming. Mueller says he’s ready for Judge to sentence George Papadopoulos. Deutsche Bank looks to cut 10,000 jobs to reduce costs: source. Jared Kushner gets permanent White House security clearance, and met with special counsel for a second time. Trump cancels Singapore nuclear summit with North Korean leader Kim Jong Un.
Weekly Mortgage Refinances Drop To An 18-Year Low As Rates Jump. Oil will be in a $55 to $75 per barrel range on a 12-month basis, said Manpreet Gill, head of FICC investment strategy at Standard Chartered Private Bank. Venezuela faces backlash after Maduro’s electoral ‘victory.’ U.S. hikes tariffs on Chinese steel exported via Vietnam. Venezuela expels U.S. envoy in response to sanctions. Michael Cohen’s business partner, Evgeny Freidman, agrees to cooperate as part of plea deal.
China Says It Will Cut Tariffs On Some Auto Parts And Vehicles. ‘World no longer accepts U.S. deciding for them’, Iran’s Rouhani says. North Korea summit: Pence warns Kim Jong-un not to ‘play’ Trump. Oil prices have been given a boost, but they could struggle to head higher. Ban to be lifted on China’s ZTE. U.S. hikes tariffs on Chinese steel exported via Vietnam. Russia is out to prove that ‘doomsday’ forecasts of economic collapse have failed. Goldman: U.S. fiscal outlook ‘not good.’ Donald Trump says U.S. reconsidering ZTE penalties as ‘favour’ to Xi Jinping.
WSJ: Mueller Probe Now Looks Outside Russian Influence. Robert Mueller’s Trump-Russia collusion probe will wrap up by September 1, says Rudy Giuliani. Average price of US gas jumps 10 cents, to $3 a gallon. Venezuela’s Maduro wins second term despite charges of sham election. Ryanair CEO says some airlines will not ‘survive’ the winter due to elevated oil prices. Donald Trump ‘offered to ease ZTE sanctions to persuade China to help with North Korea summit.’ Trump asking aides whether he should proceed with North Korea summit: report. Trump presses China to be ‘strong & tight’ on border with North Korea. Trump on China: Barriers and tariffs to come down for first time.