Opening Bell 6.26.18

Navarro says no; Trump attacks Harley; Finance managers steal to buy kittens and more!
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Trade advisor Navarro says no plans for investment restrictions on China, other countries [CNBC]

Navarro told CNBC that the administration currently does not have any specific countries targeted. His comments came after news reports that had Wall Street reeling over the prospect that the U.S. could prevent companies that had at least 25 percent Chinese ownership from buying businesses that possessed "industrially significant technology."

"There's no plans to impose investment restrictions on any countries that are interfering in any way with our country. This is not the plan," he said.

Trump says Harley-Davidson is using trade tensions as excuse to move [Reuters]

“Early this year Harley-Davidson said they would move much of their plant operations in Kansas City to Thailand. That was long before Tariffs were announced. Hence, they were just using Tariffs/Trade War as an excuse,” Trump said on Twitter.

“When I had Harley-Davidson officials over to the White House, I chided them about tariffs in other countries, like India, being too high. Companies are now coming back to America. Harley must know that they won’t be able to sell back into U.S. without paying a big tax!”

Mueller Poised to Zero In on Trump-Russia Collusion Allegations [Bloomberg]

Special Counsel Robert Mueller is preparing to accelerate his probe into possible collusion between Donald Trump’s presidential campaign and Russians who sought to interfere in the 2016 election, according to a person familiar with the probe.

Mueller and his team of prosecutors and investigators have an eye toward producing conclusions -- and possible indictments -- related to collusion by fall, said the person, who asked not to be identified. He’ll be able to turn his full attention to the issue as he resolves other questions, including deciding soon whether to find that Trump sought to obstruct justice.

Judge Dismisses Climate Suits Targeting Big Oil Companies [WSJ]

“The dangers raised in the complaints are very real,” he wrote. “But those dangers are worldwide. Their causes are worldwide. The benefits of fossil fuels are worldwide. The problem deserves a solution on a more vast scale than can be supplied by a district judge or jury in a public nuisance case.”

The ruling is a blow to an emerging legal campaign by cities and municipalities that are trying to argue that oil and gas companies created a public nuisance by producing fossil fuels they knew would result in harmful emissions. New York City and several other local governments in California, Washington and Colorado have also sued on similar grounds.

“Reliable, affordable energy is not a public nuisance but a public necessity,” said R. Hewitt Pate, Chevron’s general counsel. “Using lawsuits to vilify the men and women who provide the energy we all need is neither honest nor constructive.”

Finance boss stole £370k from his firm and bought kittens [BBC]

A building firm's finance boss siphoned off nearly £370,000 in company cash to fund a lavish lifestyle that included buying pedigree kittens, a court heard.

Matthew Farrimond, admitted 12 counts of fraud by pretending to pay the cash to charities and also one offence of money laundering.Farrimond, 41, from Buckshaw Village, Chorley, was jailed for four years, at a Bolton Crown Court hearing.

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