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Elon Musk's tiny submarine is headed for the Thai caves — but it may not make it in time to help

Elon Musk has offered his assistance and has floated plans to save the soccer team stranded in a Thai cave network. Rescue efforts are already underway, however, and may be complete by the time Musk’s submarine arrives. A tiny submarine is on its way to Thailand, sent by Tesla CEO Elon Musk to help rescue the remaining members of a youth soccer team who are trapped in a cave. …read more […]

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Chinese exporters scramble to cope with US tariffs

Chinese exporters were scrambling Monday to cope with a plunge in U.S. sales while China’s state press shrugged off the impact of Washington’s tariff hikes in a spiraling technology dispute. The overall blow from Friday’s tariff hikes to the world’s second-largest economy should be limited, according to private sector analysts. The general manager of medical device exporter that depends on the United States for 15 to 20 percent of sales said he plans to fly there this week to negotiate with customers who stopped ordering its syringes and other equipment. …read more […]

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Chinese stocks have best day in two years, yuan firms despite tariff blow

China’s share market and the yuan bounced on Monday despite heightened trade tensions between Washington and Beijing after each imposed major tariffs on the other’s goods last week and investors nervously watched for more policy action. Monday’s equities rally was seen driven by technical factors and government rhetoric to boost market confidence, but traders and analysts said the rise could be fleeting as a trade war with the United States will hit China’s economy and global growth. “The rally is in part due to marginal improvement in liquidity conditions…and also thanks to a ‘warm breeze’ from regulators and …read more […]

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Starbucks' departing chairman backs China prospects, hints at Jack Ma tie-up

Starbucks Corp’s outgoing Executive Chairman Howard Schultz said on Monday that a recent slowdown in China would be short-lived, seeking to salve investor concerns that the U.S. coffee chain is under pressure in the fast-growing market. Schultz also hinted at a potential tie-up with e-commerce giant Alibaba Group Holding Ltd’s billionaire founder Jack Ma, that could help rev up online coffee sales for the chain in China. Starbucks said last month China same-store sales would be flat to slightly negative in its second-biggest market in April-June, versus 7 percent growth a year earlier, triggering a sharp …read more […]

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Oil prices edge up as investors eye tight market

Oil prices rose on Monday as investors focused on tight market conditions after data late last week showed U.S. crude inventories fell to their lowest in more than three years. U.S. crude futures (CLc1) added 29 cents, or 0.4 percent, to $74.09. Official data that came out on Thursday, a day later than normal due to the July 4 public holiday, showed inventories at Cushing, the delivery point for U.S. crude futures, fell to their lowest in 3-1/2 years. …read more […]

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Asia shares edge higher, sterling slugged by UK politics

Asian share markets crept higher on Monday following favorable U.S. jobs data, while sterling slipped after two members of the British government resigned over Brexit and put the future of Prime Minister Theresa May in doubt. The pound peeled off around a third of a U.S. cent to $1.3292 (GBP=D3) in early trading as news broke British Brexit Secretary David Davis and Brexit Minister Steven Baker had resigned. The loss came just two days after a meeting at May’s Chequers country residence supposedly sealed a cabinet deal on Brexit and underlines the deep divisions in her ruling Conservative …read more […]

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China Needs to Resist Temptation of Traditional Retaliation, Sheard Says

Jul.08 — Paul Sheard, former vice chairman of S&P Global, talks about David Davis’ resignation as Brexit Secretary, the trade spat between the U.S. and China, and Federal Reserve policy. He speaks with Ramy Inocencio, Kathleen Hays and Haidi Lun on “Bloomberg Daybreak: Australia.” …read more […]

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Google cofounder Sergey Brin went sailing in Ibiza with one of tech's most controversial figures (GOOG, GOOGL)

Steve Jurvetson, cofounder of one of Silicon Valley’s most prestigious VC firms, posted photos to Twitter on Saturday evening of himself and friends aboard one of the world’s largest sailboats. According to Jurvetson’s tweets, among those sailing in the waters off Ibiza with him were two female start-up founders and Google cofounder Sergey Brin. On Saturday evening, Jurvetson’s Twitter page showed photos of a group of people aboard the Maltese Falcon, one of the world’s tallest sailing vessels. …read more […]

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College is more expensive than it's ever been, and the 5 reasons why suggest it's only going to get worse

College is expensive for many reasons, including a surge in demand, an increase in financial aid, a lack of state funding, a need for more faculty members and money to pay them, and ballooning student services. “I’m happy with my life today and with the education I received, but it’s unfortunate that I’ll be paying for it for another seven years at least,” Kirdy, who attended a four-year public university, told Business Insider. “There are many factors behind the cost of college, and some people have stressed one or another,” Richard Vedder, an author and distinguished professor of …read more […]

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5 Top Stock Trades for Monday

On Friday, we got the labor report for the month of June, and the 213,000 jobs came in ahead of expectations calling for 195,000. This sent U.S. equities higher, a sigh of relief among investors. That’s got us looking at five more top stock trades for Monday:Top Stock Trades for Tomorrow #1: Biogen (BIIB) …read more […]