Trump is harshly criticizing the European Union

trump euWASHINGTON (awp international) – Following the decisions of the EU summit in Sofia, US President Donald Trump has been harshly criticizing the European Union’s trade policy. “The European Union is terrible to us,” said Trump on Thursday in Washington. “Jean-Claude (Juncker) and Donald (Tusk) – I like them both, but they are very tough,” said Trump.

The EU maintains massive trade restrictions. “Our farmers are not allowed to deliver their products there,” said the US president. “But the EU, and in this case Germany, pours our country with its Mercedes and BMW vehicles,” he continued. “That will not continue.”

Trade with the EU has become a one-way street, the trade deficit last year was $ 151 billion. The European Union, like other countries, was spoiled for not having been opposed by the US for years.

The EU countries in Sofia had agreed to demand a permanent waiver of US import tariffs on steel and aluminum. In return, Europeans are offering the US to talk about trade facilitation for US firms. / Dm/DP/he

Review of Crypto Startup Circle Internet rises to $ 3 billion

circle internetGoldman Sachs’ startup of the digital currency called Circle Internet is valued at $ 3 billion in a new round of financing.

This makes Circle Internet Financial one of the most expensive fintech startups in the US. The increase in the valuation of the company from Boston is about seven times higher than a previous round of financing in 2016. The company owes this value explosion to its unbridled interest in bitcoins and other digital assets.

Despite a drop in value of 40 percent this year, the Bitcoins bring these companies a real money rain. In particular, it shows that service providers for trading and investing in cryptocurrencies are particularly benefiting. These include Coinbase, a Bitcoin exchange, or Bitmain, the Chinese chip maker for digital money transactions.

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That’s why the euro is on the decline

euro currencyThe looming populist government in Italy has sent the euro rate down on Wednesday.

A looming populist government in Italy has sent the euro rate down on Wednesday. The price fell to 1.1764 US dollars, reaching its lowest level since December. But then the common currency recovered slightly, it was last traded in New York with $ 1,1802. The European Central Bank (ECB) had previously set the reference rate at 1.1884 (Tuesday: 1.1883) dollars.

Against the franc, the euro also recovered and moved above the mark of 1.18 to currently 1.1817 francs. Meanwhile, the US dollar defends the parity level. One dollar costs 1.1013 francs.

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JPMorgan boss: There is serious competition for the reserve currency dollar

usd vs yuanThe US dollar is the global reserve currency. But in a few years another currency could become a serious competitor.

In 20 to 30 years, the yuan will be comparable to the US dollar , said JPMorgan CEO Jamie Dimon to “Bloomberg”. Previously, China has yet to tackle a long list of financial reforms, after all, no comparison is possible as long as the Chinese currency is not freely exchangeable.
Still a long way

On 1 October 2016, the International Monetary Fund (IMF) added the Chinese renminbi (yuan) as the fifth currency – alongside the euro , US dollar, pound and yen – to the world reserve currencies. This decision reflects the importance of China, after all, the world’s second largest economy, and represents a huge gain in prestige.

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TOTAL wants to give up Iran’s major project without exemption from US sanctions

total iranThe French oil company TOTAL wants to withdraw from a billion dollar deal with Iran, if he gets from the US no exemption from the announced sanctions.

TOTAL will then be unable to continue the project to develop the South Pars gas field in the Persian Gulf, the company announced on Wednesday. It would then have to do all business before 4 November. The project also involves the Chinese oil company PetroChina .

US President Donald Trump had canceled the nuclear deal with Iran last week. The suspended US economic sanctions against the country are expected to come back into force shortly, which may also affect non-US companies.

The French company argued that it could not afford to be exposed to secondary sanctions. TOTAL identified potential problems as being the loss of US dollar financing of its worldwide operations by American banks, the loss of its US shareholders, or the inability to continue its US operations.

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Google launches new music service on YouTube

youtubet-musicGoogle makes a new start in music streaming, this time under the brand of the video platform YouTube.

The new YouTube Music service will provide access to songs and music videos. In addition to an ad-supported free variant, there is a subscription model without ads, which also allows downloads. The existing streaming service Google Play Music continues, its subscription customers also automatically get the premium version of YouTube Music.

YouTube Music will launch on May 22 in the US, Australia, New Zealand, Mexico and South Korea. Germany and other European countries will follow “soon”, it said in a blog entry on Thursday. The subscription variant YouTube Music Premium costs similar to other services $ 9.99. For two dollars more you get under the name YouTube Premium additionally ad-free access to all videos of the platform and to the exclusive productions.

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Siemens buys US software specialists for building automation

siemens

Siemens is strengthening its building automation business with Californian software framework provider J2 Innovations.

The Los Angeles-based company has made a name for itself with the FIN (Fluid INtegration) programming framework, which enables building automation providers to quickly and easily develop state-of-the-art, intuitive systems for controlling equipment and automation systems.

FIN is used in thousands of building installations in more than 20 countries.
J2 Innovations is to be expanded with additional staff in the US and offices in Europe and Asia, but remain independent in order to be able to act flexibly. The acquisition is expected to be completed in May. For the purchase price Siemens made no statements.

BMW top admits diesel error

bmw-turbo-dieselBMW boss Harald Krüger and supervisory board boss Norbert Reithofer have given a breakdown in the exhaust gas purification of a diesel engine, but denied any intention.

“We made a mistake a few years ago,” said Krüger on Thursday at the BMW Annual General Meeting in Munich: In 11 700 BMW vehicles was mistakenly a mismatched software has been installed. The Kraftfahrtbundesamt had ordered in March the recall of the cars because of an inadmissible shutdown device.

Reithofer emphasized that the “technical, human error” did not mean that the emission levels on the test bench would have been lower than those on the road. Krüger said: “It has nothing to do with a targeted manipulation of engine control and exhaust gas purification.” BMW is now waiting for the authorities to approve the corrected software.

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Analyst: The stock market under Trump is similar to that under Ronald Reagan – Now follows a fierce bear market?

bear marketAn analyst has compared the performance of the stock market under US President Trump to that during Ronald Reagan’s term and now fears that investors will have to face a fierce bear market.

Both Donald Trump and ex-President Ronald Reagan did not come from the political establishment when they were elected to the White House. For Ralph Acampora, Director of the technical analysis department at Altaira Capital Partners, this was the occasion to look for other similarities.

Bear market under Reagan

When Reagan was sworn in on January 20, 1981, the Dow Jones index stood at around 950 points. At first, investors could look forward to a six-month “honeymoon” period, with a gain of just under 10 percent, according to Acampora.

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Air France-KLM boss resigns after defeat in salary dispute

air francePARIS (dpa-AFX) – After a major defeat in the tariff dispute at the French airline Air France, CEO Jean-Marc Janaillac resigns. In a staff survey, a majority voted against the recent salary proposal of the management. Janaillac, who took less than two years, the helm of the French-Dutch company Air France-KLM, then announced on Friday its departure. The 65-year-old had linked his professional future with the result of the vote.

“13 strike days and more than two months of conflict have weakened Air France,” he said. “This is an enormous waste that our competitors can only rejoice (…).” The business of the company was running better after difficult years of restructuring recently.

The Paris government appealed to “everyone’s sense of responsibility to allow the company to continue its development”. The French state owns a good 14 percent of Air France-KLM. It is now up to the Board of Directors to define the conditions for a way out of the crisis. The committee meets on Wednesday, where Janaillac wants to submit his resignation.

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