The State of New York has a new plan to fight the nation's opioid crisis. And it's a real doozy.The state has gathered together the brightest and most intelligent team in order to create a radical and revolutionary new strategy that's probably guaranteed to stop opioid abuse dead in its tracks...It's raising taxes.Surprised?Of course you're not. Government's solution to every problem is to raise t...Read More
WASHINGTON (Reuters) - CNN on Monday called on a federal court to hold emergency proceedings after the White House said it would again revoke press access to correspondent Jim Acosta despite a temporary restraining order on Friday to reinstate him.Acosta’s credentials were revoked after Trump denounced him as a “rude, terrible person” during a Nov. 7 news conference. CNN challeng...Read More
(Reuters) - Apple Inc (AAPL.O) has cut production orders in recent weeks for all three iPhone models launched in September, the Wall Street Journal reported on Monday, citing sources.A lower-than-expected demand for the new iPhones and Apple's decision to offer more models has made it difficult to anticipate the number of components and handsets the company needs, according to the WSJ report here...Read More
The market for hot-rolled and cold-rolled steel sheet in Russia's Central Federal District around Moscow has remained weak despite mill expectations of an improvement in demand after an explosion at Kazakhstan's ArcelorMittal Temirtau. ArcelorMittal Temirtau, which is is the largest supplier of imported flat steel products in Russia, partly suspended operations on Saturday November 10&nb...Read More
YOKOHAMA, Japan (Reuters) - Nissan Motor Co (7201.T) Chairman Carlos Ghosn was arrested on Monday for alleged financial misconduct and will be fired from the board this week, a dramatic fall for a leader hailed for rescuing the Japanese carmaker from close to bankruptcy.Ghosn is also chairman and chief executive of Nissan’s French partner Renault (RENA.PA) and his departure will raise questi...Read More
Export prices for flat steel products from the Commonwealth of Independent States (CIS) moved lower in the week ended Monday November 19 because demand remained weak and the downtrend in China put pressure on the market."There was a possibility that the fall in prices would stop after the accident at Temirtau [ArcelorMittal's asset in Kazakhstan]," one trader from Russia told Fastmarkets. "But the...Read More
Import prices for steel slab in Southeast Asia and East Asia fell in the week to Monday November 19, on lower bids from suppliers and persistently low demand as a result of sluggish domestic hot-rolled coil sales.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $460-470 per tonne cfr on November 19, down $10 per tonne from a week earlier.Major Indon...Read More
(Reuters) - President Donald Trump’s appointment of Matthew Whitaker as acting U.S. attorney general on Nov. 7 drew another legal challenge on Monday, this time by three Democratic senators.Senators Richard Blumenthal, Sheldon Whitehouse and Mazie Hirono sued Whitaker and Trump, asking for a court order stating the appointment violated the U.S. Constitution by denying the Senate its right to...Read More
Import prices for rebar in Singapore were lower over the past week on expectations of more supply hitting the market in the coming weeks.This is especially so for Chinese rebar, which is widely expected by market participants to be offered in more amounts in the near term as the domestic market softens.Fastmarkets MB's assessment of import prices for rebar in Southeast Asia - which mainly looks at...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN Index couldn't muster more than about 5 points to the upside before falling, rolling over, and continuing its correction. The Index fell 26.9 points to close the week at 1106.85 for a 2.4% decline, amounting to a stinging two-week loss of 4%.MACD tumbled 7.7 points...Read More
JERUSALEM (Reuters) - Home-renting company Airbnb Inc <AirBnB Inc> said on Monday it would remove listings in Israeli settlements in the occupied West Bank, a move Israel called a “wretched capitulation” to boycotters and Palestinians hailed as a step towards peace.The decision, affecting some 200 listings, would take effect in the coming days, Airbnb said.Israel captured the Wes...Read More
China's rebar prices kept moving lower in both the domestic and the export markets on Monday November 19 amid sparse trading. Domestic Eastern China (Shanghai): 4,250-4,300 yuan ($613-620) per tonne, down 70 yuan per tonneNorthern China (Beijing): 4,030-4,080 yuan per tonne, down 100 yuan per tonneThe weekend billet losses and Monday's drop in futures prices pushed down spot rebar prices...Read More
UNITED NATIONS (Reuters) - Turkish Foreign Minister Mevlut Cavusoglu did not request a U.N. inquiry into the death of Saudi journalist Jamal Khashoggi when he met with U.N. Secretary-General Antonio Guterres on Monday, a U.N. spokesman said, though they did discuss the case.“They discussed Yemen, Syria, Cyprus, as well as the murder of Jamal Khashoggi,” U.N. spokesman Stephane Dujarric...Read More
(Reuters) - Tesla Inc (TSLA.O) could be interested in partnering with Daimler AG's (DAIGn.DE) Mercedes-Benz on an electric version of its Sprinter van, Chief Executive Officer Elon Musk said in a tweet here on Monday."Maybe interesting to work with Daimler/Mercedes on an electric Sprinter. That's a great van. We will inquire," Musk replied here to a comment by a Twitter user enquiring about an...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
WASHINGTON (Reuters) - Three Democratic senators launched a new legal challenge on Monday to President Donald Trump’s naming of Matthew Whitaker as acting attorney general, accusing Trump of depriving the U.S. Senate of its constitutional power to act on such appointments.The lawsuit was filed in federal court in Washington by Senators Richard Blumenthal, Sheldon Whitehouse and Senator Mazie...Read More
Turkish steel producers continued to hold back from the deep-sea scrap market on Monday November 19, because they expect more supplies from China to hit the market in the next few weeks.This is especially so for Chinese rebar, which is widely expected by market participants to be offered in increasing amounts in the near term while its domestic market softens."The price in China is falling....Read More
BRUSSELS (Reuters) - Italy will stick with its 2019 budget plan despite criticism from the European Commission but talks are continuing, Economy Minister Giovanni Tria said on Monday after attending a meeting of euro zone finance ministers.Italy is at loggerheads with the Commission and many fellow euro zone governments over its big-spending budget. Brussels has rejected the package, saying it fai...Read More
(Reuters) - Danske Bank (DANSKE.CO) is embroiled in a money laundering scandal that has triggered criminal investigations, forced out its CEO and chairman and rattled investors in Denmark’s largest bank.An internal investigation, published in September, charted how 200 billion euro ($229 billion) flowed through Danske Bank’s tiny Estonian branch from clients registered or incorporated...Read More
WASHINGTON (Reuters) - The U.S. Treasury Department has placed sanctions on Libyan Islamist commander Salah Badi, who Libya's U.N.-backed Government of National Accord has blamed for a May 2017 attack in Tripoli, according to a notice posted to the department's website on Monday.Reporting by Mohammad Zargham; Editing by Susan Heavey Disclaimer: The views expressed in this article are those of the...Read More