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- LifestyleCosmopolitan
Liam Hemsworth Filed for Divorce After Seeing Those Pics of Miley Cyrus Kissing Kaitlynn Carter
It was too much for him, apparently.
- entertainment People
One Kiss Is All It Takes: Dua Lipa and Anwar Hadid Pack on the PDA During Her Birthday Celebrations
Dua Lipa and Anwar Hadid's Relationship Heats Up
- Lifestyle Harper's Bazaar
Pippa Middleton Wore the Coolest Polka Dot Dress While Out with Her Son
Polka dots or prints? This stylish mom says both.
- entertainment Entertainment Tonight
Gayle King Says Meghan Markle and Prince Harry Are 'Targets,' Defends Them Amid Private Jet Drama (Exclusive)
The 'CBS This Morning' co-host also shared her thoughts on the new 'Bombshell' trailer.
- Finance Bloomberg
Oil Sinks as China Targets U.S. Crude With Tariffs in Trade War
(Bloomberg) -- Crude slid to a two-week low after China announced tariffs on U.S. oil for the first time and U.S. President Donald Trump signaled he may escalate the trade war.Futures dropped 2.1% in New York on Friday after China’s declaration of new levies on $75 billion of American oil and other goods. Trump tweeted Friday that he will respond to China’s tariffs in the afternoon. A meeting on trade took place around midday in the Oval Office, according to people familiar with the discussions.Last year, Beijing removed crude from a list of levied goods, signaling the importance of American oil in the global market. The decision to include it now shows how the trade spat has intensified, forcing Asia’s biggest economic power to use duties on the strategic commodity as ammunition.“We appear to be moving further away from a resolution” to the trade dispute, Noah Barrett, an analyst at Janus Henderson Investors, said during a telephone interview. “Ultimately, this exacerbates fears of slowing economic growth and slowing oil-demand growth.”Even before the tariffs were announced, Chinese orders for U.S. crude had been on the wane. The Asian nation’s refiners were the ninth-biggest destinations for American oil during the first five months of the year, down from third-largest in 2018.“We see today’s move as a knee-jerk reaction lower driven by sentiment rather than fundamentals,” said Michael Tran, a commodity strategist at RBC Capital Markets.The latest dust-up between China and the Trump administration came as leaders from the Group of Seven nations prepared to meet in France and central bankers gather in Jackson Hole, Wyoming, to discuss issues including fears of a global economic slowdown.In a speech, Federal Reserve Chairman Jerome Powell said “we’ve seen further evidence of a global slowdown” and would be watching developments for impact on the U.S.New York-traded crude futures have dropped more than 7% this month as the protracted trade dispute fanned fears about stunted demand. U.S. factory data declined for the first time in a decade, while domestic fuel stockpiles increased this week, aggravating concerns about a potential glut.West Texas Intermediate crude for October delivery declined $1.18 to settle at $54.17 a barrel on the New York Mercantile Exchange.Recession RiskBrent for October delivery dropped 58 cents to end the session at $59.34 on the ICE Futures Europe Exchange. Its premium to WTI for the same month traded at $5.17 a barrel.The Chinese tariffs will take effect in stages between Sept. 1 and mid-December, according to the announcement from the Ministry of Commerce. This mirrors the timetable the U.S. has laid out for 10% tariffs on nearly $300 billion of Chinese shipments.While the U.S. isn’t among the biggest crude suppliers to China, America’s shale boom has made it one of the top producers in the world along with Saudi Arabia and Russia. At a time of OPEC output cuts, sanctions that are strangling supplies from Iran and Venezuela, and rising geopolitical tensions in the Middle East, the import-dependent Asian nation needs reliable crude imports to sustain economic growth.“Escalating trade tension increases the risk of the world moving into recession,” said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. “That could result in even lower oil demand next year, and an even more oversupplied oil market next year.”\--With assistance from Catherine Ngai, Grant Smith and Pratish Narayanan.To contact the reporter on this story: Sheela Tobben in New York at vtobben@bloomberg.netTo contact the editors responsible for this story: Carlos Caminada at ccaminada1@bloomberg.net, Joe Carroll, Catherine TraywickFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
PeopleKeith Urban & Miranda Lambert Have a Moment In Nashville, Plus Taylor Swift, Queen Latifah & More
Star Tracks: Friday, August 23, 2019
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Lifestyle PureWow
Jennifer Lopez Had Stripper Poles Installed in All 3 of Her Homes to Prepare for ‘Hustlers’
We already know that Jennifer Lopez enlisted her fiancé, Alex Rodriguez, to visit a strip club with her while preparing for...
![](https://s.yimg.com/uu/api/res/1.2/gQRlu0gq56J0r_KQ3YLP9Q--~B/Zmk9c3RyaW07aD0xNjA7cHlvZmY9MDtxPTgwO3c9MzQwO3NtPTE7YXBwaWQ9eXRhY2h5b24-/https://media-mbst-pub-ue1.s3.amazonaws.com/creatr-uploaded-images/2019-08/0d691db0-c5a1-11e9-b1ef-4ca20e19c29f "CBC - Ontario cottage owners are in for a shock this fall with electricity rates for seasonal customers set to rise by as much as 129 per cent.The Ontario Energy Board (OEB) tasked Hydro One with developing a billing model that would eliminate the class under which most seasonal customers have their hydro fees assessed.In a letter to its customers last week, the electricity provider warned that if the OEB eliminates the seasonal rate class, hydro bills will rise for more than half of them.A spokesperson for the OEB said if the seasonal class is eliminated, Hydro One customers will be moved to one of the utility's other three residential classes, based on the population density of the area and the infrastructure and equipment costs that come with delivering electricity to those addresses.Billing changes fair, board saysThe OEB found some cottages are just as easy to supply with power as many year-round homes. Removing all seasonal users from the equation will make the billing structure fairer for everyone, the board says."This will ensure that seasonal customers pay the appropriate cost for their service they receive," wrote OEB spokesperson Mary Ellen Beninger.But Hydro One says the new scheme, if implemented, would shift the burden of paying for power to those customers in rural and hard-to-reach areas, and said some cottage owners will see their bills skyrocket by as much as 129 per cent."An increase like that is disastrous," said cottager David Rogers, 78, whose family has maintained a wood-sided seasonal retreat on Christie Lake since 1946.The plan, if implemented, would add an average of $68 per month to the bills of about 78,000 seasonal customers."Some people, that would put them out of their cottage," said Rogers, whose annual electricity bill for the cottage is now about $1,500.'How much is too much?'Rogers said it was his father, an electrical worker from Buffalo, N.Y., who, working through the heat of 1940s summers, strung electrical lines to the family cottage.Ontario Hydro eventually purchased those poles and lines to extend electrical service to the new cottages that went up nearby in the 1950s.In the intervening years, Rogers said the family has updated the cottage's electrical panel and added LED fixtures in the hopes of keeping utility costs manageable."We understand there is a cost to serve people that are rural," said Terry Rees, executive director of the Federation of Ontario Cottagers' Associations (FOCA). "It's just, how much is too much?"FOCA has been an intervenor at the OEB and, as far back as 2015, argued for the preservation of the seasonal class to ensure cottagers, who typically use less electricity, aren't "unfairly penalized."'Another nail in the coffin'Krystyna Williamson, president of the Christie Lake Association, called the threat of steep power bill increases "another nail in the coffin" for cottage owners already struggling to pay high fuel prices and rising property taxes.She said cottagers in the area typically pay double what urban customers pay for power delivery, offering the example of one neighbour who was charged a $120 delivery fee on an $8.32 power bill."It all adds into making it harder for children to take on the cost of a property that their parents and grandparents maintained," Williamson said.Hydro One sent its official analysis of the proposal to the OEB on July 19. The OEB says it's in the process of issuing public notice of hearings into the proposed elimination of the seasonal class.")
