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Why Trump’s car tariffs are doomed to failure: RT’s Boom Bust explains

In the new episode of Boom Bust, Professor of Economics Richard D. Wolff analyses possible US trade tariffs on European cars. Wolff explains how the history of the global automotive market has brought us to this trade conflict between Washington and Brussels. The professor predicts that this plan by President Donald Trump is likely to fail, in the same way ...

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Apple & US technology majors may lose third of their value – expert

Facebook, Apple, Amazon, Netflix and Google parent Alphabet may potentially fall in value by up to 40 percent, says an analyst following the recent drop demonstrated by the so-called FAANG stocks. According to the editor of the Bear Traps Report Larry McDonald, US high-tech stocks are turning into risky assets. “These are stocks you want to run away from,” the ...

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Russian rocket engines to continue launching America into space

Russia will continue supplying RD-180 rocket engines, which are used by NASA and the Pentagon, to the United States until at least 2020. “We signed the contract until 2020, and we will supply our partners with six more RD-180 engines,” said Igor Arbuzov, CEO of Russia’s Energomash. The RD-180 engines operate at the first stage of the US Atlas V ...

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Brussels slaps six Russian companies with Crimea-related sanctions

The European Union has extended sanctions against six Russian companies in connection with their work in Crimea and the construction of a bridge to the peninsula. According to the Official Journal of the EU, the sanctions will target construction engineering company Institute Giprostroymost, Russia’s largest heavy-construction company Mostotrest, engineering and construction corporation VAD ZAO, infrastructure construction firm S.G.M. Group, and ...

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Iranian rial falls to record low against the US dollar & central bank blames ‘nation’s enemies’

The unofficial rate of the Iranian rial plummeted to a record low of 112,000 rials against the dollar on concerns over the imminent return of full US sanctions. The rial has lost more than a half of its value against the dollar in just four months, having fallen to the 50,000-mark for the first time in March. Iranians have been ...

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Russia wins WTO dispute against Ukraine on railway equipment imports

A World Trade Organization (WTO) dispute panel has ruled in favour of Russia over its alleged refusal to import Ukrainian railway equipment. Railway equipment is a major export for Kiev. According to Kiev, Russia has purchased wagons, rolling stock, turnouts and other components from Ukraine since 2013. Before the relations between Moscow and Kiev deteriorated, railway equipment had been Ukraine’s ...

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Coke, meth and booze: The flip side of the Permian oil boom

The fastest-growing oil region in the US is fueling not only the second American shale revolution—it’s fueling a subculture of drug and alcohol abuse among oil field workers. The Permian shale play in West Texas is once again booming with drilling and is full of oil field workers, some of which are abusing drugs and alcohol to help them get ...

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Has Elon Musk been reduced to selling trinkets to keep Tesla afloat?

Electric car maker Tesla has teamed up with California-based firm Lost Surfboards by Mayhem to launch the sale of a product completely unrelated to e-vehicles. Tesla is now offering limited-edition surfboards. The $ 1,500 Tesla-branded surfboards sold out within hours of appearing on the company’s online shop on Friday, as only 200 of the limited-edition surfboards were made available for ...

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Russia to build one of the world's biggest cargo jets to replace Soviet legend

Russia is set to start construction of a super-heavy cargo plane to replace the iconic Antonov An-124 Ruslan, developed in the Soviet Union. The project has been included in the state armament program though 2027 and work on the new aircraft will begin within that time frame, according to Russian Deputy Prime Minister Yuri Borisov. In June, Russia said it ...

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Zuckerberg & Facebook slapped with lawsuit for failing to warn investors of slowing growth

Facebook investors are suing the social network, its CEO Mark Zuckerberg and CFO David Wehner after a poor earnings report wiped out nearly $ 160 billion of shareholder wealth. The lawsuit, filed by shareholder James Kacouris in a Manhattan federal court, could be the first of many claims over a disappointing earnings announcement by the social media and social networking ...

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