The terrorist group Islamic State in the Levant (ISIL) is generating an income of $800 million annually from oil sales, according to IHS, a leading provider of energy information and analytics.
ISIL is able to generate more than $2 million a day despite the fact that the production facilities it controls are producing significantly less than before the war and the group is selling the oil at a steep discount on the black market. Much of the oil is processed in mobile refineries that can be loaded by truck....More
"FAW-Volkswagen Sales Company, Ltd. presided over the process of organizing, reaching and implementing the price monopoly agreement of the car and repair services and obviously played a leading and facilitating role," Chinese regulators said....More
Among the global companies fined were Toyota, Nissan, Honda, Volkswagen, BMW, Mercedes-Benz, Ford and General Motors. Local companies fined included Maruti Suzuki, Hindustan Motors and Tata Motors....More
Could manufacturing have prompted a rare display of bipartisanship in Washington?
Turns out the answer is yes. A group of seven senators, led by Sen. Chris Coons, D-Del., has sent a letter to the Government Accounting Office asking it to analyze federal manufacturing policies and provide recommendations for improvement....More
Pricing authorities in the eastern province of Jiangsu have collected evidence that Mercedes-Benz controlled prices of its spare parts and maintenance services, the official Xinhua news agency reported Saturday....More
Beijing considers using a dominant market position to set prices as a form of monopoly. Violators' "illegal gains" can be confiscated, and they can be fined up to 10% of their sales revenues from the previous year....More
Since NAFTA went into effect in 1994, the U. S. has generated the highest trade deficit in the world and the largest in the world’s recorded history. If you add the annual trade deficit in goods as shown on the Census Bureau website, the total is a staggering figure of $10.347 trillion....More