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The American motorcycle manufacturer Harley-Davidson will not raise wholesale and recommended retail prices to compensate for duties imposed by the EU in response to US actions in the steel and aluminum markets. The company will be forced to move a part of the production of products destined for European countries outside the US. For the EU market, import duties on Harley-Davidson motorcycles will increase from 6% to 31%. The company expects that the damage from such an increase for the remainder of 2018 will be from 30 million to 45 million dollars. To move even a small part of the production outside the US, the company will need from 9 to 18 months and substantial investment.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
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