US finalises next China tariff list targeting US$16 billion in imports
The United States will begin collecting tariffs on another US$16 billion (S$22 billion) in Chinese goods on Aug 23, the US Trade Representative's office said on Tuesday as it published a final tariff list targeting 279 import product lines.
USTR said that only five product lines were deleted from a list initially proposed on June 15, but semiconductors, among the largest categories, remained on the list.
The latest list brings to about US$50 billion in goods that now face a 25 per cent tariff that US President Donald Trump has imposed on Chinese imports in an escalating trade war over China's intellectual property practices and industrial subsidy policies.
China has vowed to match Washington's tariff moves with duties on an equivalent worth of US products.
Elon Musk considers a private Tesla in tweet, shares jump
Chief executive Elon Musk said on Tuesday he is considering taking Tesla private in what would be the largest deal of its type, moving the electric car maker out of the glare of Wall Street as it goes through a period of rapid growth under tight financial constraints.
“Am considering taking Tesla private at $420. Funding secured,” Musk said on Twitter.
At US$420 per share, a deal would be worth US$72 billion (S$98 billion) overall.
Boris Johnson told to apologise for mocking women who wear burqa
Theresa May piled pressure on her former foreign secretary Boris Johnson to apologise after he said the Muslim burqa, worn to conceal a woman’s face and body, made wearers look like bank robbers and letter boxes.
Johnson used his weekly column in the Telegraph newspaper on Monday to argue against a ban on the burqa, as implemented by Denmark, France and Austria, saying people should be free to choose their own dress.
But he mocked the garment, saying it was “absolutely ridiculous that people should choose to go around looking like letter boxes,” and that face coverings made the wearer resemble a “bank robber.”
China denies entry to Disney film featuring Winnie the Pooh: Source
Walt Disney's request to show Christopher Robin, a movie that features the honey-loving bear Winnie the Pooh, has been denied by authorities in China, a source familiar with the matter said on Tuesday.
It is unclear why the Chinese government denied entry to the film.
The government in Beijing has censored online images of Winnie the Pooh after some opponents likened the bear's appearance to President Xi Jinping and have used Pooh as a symbol of resistance.
Football: US billionaire gets full control of Arsenal, buying out Russian rival
Russian tycoon Alisher Usmanov agreed on Tuesday to sell his 30 per cent stake in Arsenal to the club's majority owner, American billionaire Stan Kroenke, an agreement that would end years of acrimony and values the English Premier League team at US$2.3 billion (S$3.1 billion).
Kroenke and Usmanov spent years fighting for supremacy at Arsenal, buying up shares whenever they became available, and the deal clears the way for Kroenke to take the club private, an action that Usmanov had long blocked by refusing to sell his shares.
Kroenke, whose family also owns several US sports franchises, including the Los Angeles Rams and the Denver Nuggets, gained the upper hand in July 2011, leaving Usmanov to do little more than complain from the sidelines or seethe privately in the luxury skybox he maintains at Arsenal's stadium.