Economy

Toyota to launch ultra-compact EV and new battery strategy

October 21, 2019

The Ultra-Compact BEV promises to offer an "extremely short turning radius" and top out at 37 miles per hour, which is more than you'll ever need in a crowded city. With the planned sales premiere of the ultra-compact BEV, Toyota also intends to introduce a new business model "that aims to promote the wider adoption of battery electric vehicles in general".

API: Supersized Crude Build Sends Oil Prices Down

October 20, 2019

Comments from a high ranking government official on a U.S. -China trade deal are also helping to underpin prices. As a result, Brent rose 49 cents to settle at $59.91 per barrel, and West Texas Intermediate gained 57 cents to settle at $53.93 per barrel.

Brexit Standoff as Boris Johnson Defies MPs' Vote to Delay EU Exit

October 20, 2019

The EU's chief Brexit negotiator, Michel Barnier, said Tusk would consult with other leaders "in the next days" about Johnson's request, but most signs indicate the EU would prefer an extension to an abrupt no-deal Brexit. In his own signed letter to Tusk, Johnson said he was confident that the process of getting the legislation through Britain's parliament would be completed before October 31.

GM workers to stay on picket line until vote on new contract

October 20, 2019

The national strike officially started at 11:59 p.m., September 15. A record ratification bonus of $11,000 would be paid to permanent employees, while temporary workers would receive a bonus of $4,500. Meanwhile, UAW leaders representing Fiat Chrysler Automobiles NV and Ford Motor Co. on Friday said their subcommittees will continue to meet until UAW President Gary Jones chooses the next company with which to bargain after GM sets the pattern.

Woman Takes Selfie Hanging Over Cruise Ship Railing, Gets Lifetime Ban

October 20, 2019

We all spend more time than we'd care to admit chasing the ideal holiday photo, but one woman's quest for vacay photo glory has seen her banned from Royal Caribbean cruises for life. "[They] are now banned for life from sailing with Royal Caribbean", Fishman added. After showing the photo to the staff captain, they were able to determine the room in which the guest was staying, reports The Sun .

China, US make 'substantial' trade deal progress, says top official

October 20, 2019

US Trade Representative Robert Lighthizer speaks with China's Vice Premier Liu He during a meeting with US President Donald Trump in the Oval Office at the White House after two days of trade negotiations in Washington October 11, 2019.

Bernie Sanders' heart attack convinced AOC to endorse him in 2020 bid

October 20, 2019

Rep. Alexandria Ocasio-Cortez of New York officially endorsed Vermont Senator and presidential candidate Bernie Sanders at a rally in Queens, New York on Saturday. Sanders, who had two stents inserted in his heart to clear a blocked artery, said he is "feeling great". "We're delighted to have her on board", Sanders said.

Qantas prepares for 20-hour NY to Sydney flight

October 20, 2019

The objective of the record-breaking flight is to conduct scientific research on passengers and crew on an ultra-long haul flight, with the aim of increasing health and wellness, minimising jetlag and identifying optimum crew rest and work periods.

Reading LGBT protest held over Chick-fil-A outlet

October 20, 2019

Meanwhile, the Paul Anderson Youth Home allegedly "teaches boys that homosexuality is wrong and that same-sex marriage is 'rage against Jesus Christ and His values, '" ThinkProgress reported. Unmoved by such defences, The Oracle has now confirmed that while it "always look [s] to introduce new concepts for our customers... we have decided on this occasion that the right thing to do is to only allow Chick-Fil-A to trade with us for the initial six-month pilot period, and not to extend the ...

Trading in second Woodford fund suspended: administrator

October 19, 2019

Link concluded investors would get their money back more quickly if the assets were sold and the money distributed in stages - though the prices secured for assets of which the fund is a forced seller may of course face pressure. While investors in the Woodford Equity Income Fund cannot now buy or sell units, trading in the Multi-Manager funds is not restricted and you can buy and sell the portfolios as normal.

Tesla Gets Green Light To Start Making Electric Vehicles In China

October 19, 2019

In 2013, as a "final assembly and distribution point" for its electric vehicles sold in Europe, Tesla launched an 18,900-square meter facility in Tilburg, Holland. Reuters stated earlier this month that Tesla was planning to launch production this month at its China plant. Tesla intends to produce at least 1,000 Model 3s a week from the Shanghai factory by the end of this year, as it tries to boost sales in the world's biggest auto market and avoid higher import tariffs ...

G7 says Libra should not launch until risks 'adequately addressed'

October 19, 2019

German Finance Minister Olaf Scholz on Friday redoubled his criticism of Facebook's plans to launch its Libra cryptocurrency, and said creation of a new world currency should be prevented. It is feared that it would be both hard to regulate and ensure that it does not disrupt monetary policy or facilitate money laundering and tax evasion.

Samuel Adam's creates special Halloween beer illegal in 15 states

October 19, 2019

Samuel Adams' 2019 Halloween brew is illegal in 15 states because of it's frighteningly high alcohol content. While an average beer's alcohol by volume, or ABV, falls below 10 percent, the new release is the highest naturally fermented beer at 28 percent, according to Forbes .

Coca-Cola's quarterly sales tops Wall Street expectations

October 19, 2019

Net income for the third quarter was $2.6 billion, up from $1.8 billion past year. The firm is expected to issue its next quarterly earnings results before the market opens on Friday, October 18th. The sale was disclosed in a legal filing with the SEC, which is available at this link . The stock was sold at an average price of $53.40, for a total transaction of $747,600.00.

China Economic Growth Unexpectedly Slows to 6% in Third Quarter

October 19, 2019

It was the weakest growth since China started reporting data by quarters in 1993. Prices of soybeans, iron ore and other commodities have fallen, hitting Brazil, Australia and other suppliers. China's exports to the United States, its biggest foreign market, fell 21.9 percent in September from a year ago. As the Trump administration relentlessly upped the trade war tariffs, China took further steps in the first quarter of 2019 to stimulate its economy through government-sponsored 114.3 ...

Alphabet’s Wing starts delivering packages with drones in Virginia

October 19, 2019

Wing Wikipedia describes Wing : "Wing is a subsidiary of Alphabet Inc. that develops technology of drone-based delivery of freight". The last mile of that FedEx Express delivery, which would normally be via truck, was done with a Wing drone.

Ford announces biggest electric vehicle charging network in North America

October 19, 2019

Ford says drivers will be able to charge at one of over 35,000 outlets, including some fast-charging, and that power will be free for the first two years, and pay-as-you-go after that. The network approach sounds like a really good idea, especially if traditional automakers (competitors) agree to collaborate on charging stations. The FordPass Charging Network will consist of stations from multiple charging providers, including Greenlots and Electrify America, allowing Ford customers to ...

Saudi Aramco IPO Delayed Amid Deteriorating Conditions

October 19, 2019

Saudi Aramco was declared the most profitable company in the world after it published its financial results for the first time, disclosing that it made $111 billion in profits back previous year. "They want to do all what they can to hit valuation target, solid results after the attack will give them a stronger position", one of the sources told Reuters .

Johnson & Johnson recalls lot of baby powder

October 19, 2019

The International Agency for Research on Cancer believes the link between asbestos and mesothelioma to be strong enough to say that it causes cancer. Numerous suits are ongoing, but have already cost the company many billions of dollars. The recall only applies to the United States , a spokesman said.

Euro zone yields surge on Brexit deal agreement

October 18, 2019

Alternatively should the United Kingdom and European Union be able to hammer out at least the basis for deal ahead of the upcoming European Union summit then the skies the limit for the Pound, as we could see it rise to its best levels since the European Union referendum.

Netflix revs up growth as streaming TV war looms

October 18, 2019

Couple that with the tech-giant's offer a free one-year Apple TV subscription with a purchase of any new iPhone, iPad, or Mac and the company has the opportunity to convert hundreds of millions of global users per year into paying customers.

Flavored Juul Products Officially Off-the-Market In the US

October 18, 2019

The company will continue to sell tobacco, mint and menthol pods in USA retail locations and online, but Juul will "continue to review our policies and practices in advance of FDA's flavor guidance and have not made any final decisions", according to a Juul spokesperson.

Why Netflix Continues to Shrug Off Looming Threats From Disney and Apple

October 18, 2019

Netflix's streaming subscriber base continues to grow, ending the quarter at more than 158 million global paid subscribers, up from 130 million a year ago. With Apple and Disney set to launch new streaming services next month, and other major content owners like NBC looking to soon start their own as well, the landscape of streaming is about to dramatically shift, and while you might think this is enough to make old-school content providers like Netflix nervous, it seems that the streaming ...

G7: digital currencies must be secure and safe

October 18, 2019

Bertrand Perez , former senior director of payments engineering at PayPal was confirmed at the meeting as Libra's chief operating officer and managing director. The Association's 21 remaining members include Facebook , Spotify, Uber and Lyft. "You know you're on to something when so much pressure builds up".

Airline ditches 'ladies and gentlemen' in favour of more politically correct term

October 18, 2019

Air Canada didn't say when the changes will go into effect, according to CTV . A company memo stated, "we want to ensure an inclusive space for everyone, including those who identify with gender X". In March, the United Airlines became the first USA airline to recognize gender-neutral pronouns after offering a gender-neutral title "Mx" alongside "Mr" and "Mrs".

Qatar pledges to end ‘kafala’ employment laws — United Nations labor body

October 18, 2019

Together, these requirements have trapped many migrant workers in slave-like conditions when their wages are cut or stopped, leaving them unable to change jobs or go home when unscrupulous bosses withhold the necessary paperwork. Critics of Qatar have long included International Trade Union Confederation (ITUC) general secretary Sharan Burrow but even Burrow has welcomed the announcement, saying " Qatar is changing".

Volvo XC40 Recharge Electric SUV Breaks Cover

October 18, 2019

The XC40 Recharge is Volvo's first fully-electric vehicle , and the first auto to appear in the automaker's "Recharge" vehicle line. With the new XC40 Recharge model, drivers will experience a fully-electric all-wheel drive powertrain rated 402 horsepower.

USA bombs its own military base after Syria withdrawal

October 17, 2019

Erdogan reportedly took the letter warning against being a "fool" and tossed it "in the bin", the sources said. "It will look upon you forever as the devil if good things don't happen". "You don't want to be responsible for slaughtering thousands of people, and I don't want to be responsible for destroying the Turkish economy - and I will", he wrote .

EU Leaders Endorse Brexit Deal, Sending It to UK Parliament

October 17, 2019

After the deal was announced, Johnson joined the EU's 27 other leaders at a summit in Brussels , shaking each by the hand as he entered the room and laughing and joking with German Chancellor Angela Merkel and French President Emmanuel Macron.

Netflix shares jump as subscribers grow ahead of Disney, Apple attack

October 17, 2019

Netflix reported $5.2 billion in revenue in the third quarter, up 31 per cent over the prior year, and operating income doubled to $1 billion. "Since our United States price increase earlier this year, retention has not yet fully returned on a sustained basis to pre-price-change levels, which has led to slower U.S.

Brexit deal has been agreed, say Boris Johnson and Jean-Claude Juncker

October 17, 2019

British Prime Minister Boris Johnson tweeted that the two sides had struck a "great new deal" and urged United Kingdom lawmakers to ratify it in a special session on Saturday. Separately, British Prime Minister Boris Johnson said "we have a great new Brexit deal". The party said the position was unchanged after the announcement of the provisional deal.

Unemployment rate falls to 5.2pc

October 17, 2019

Today's release shows unemployment was at 5.2% in September, still far from the RBA target, but improving. Certainly, if the RBA is intent on seeing the unemployment rate fall to 4.5 %, then the economy isn't growing almost fast enough to achieve that, and so this could be one argument for embarking on unorthodox policy measures.

Oil slips further below $59 on weaker economic outlook

October 17, 2019

The American Petroleum Institute (API) reports its weekly USA inventory numbers at 2030 GMT, ahead of Wednesday's government stocks data. "Should EIA inventories illustrate for a fifth consecutive week build, we expect for strong selling pressure to afflict oil prices on an intraday basis", Benjamin Lu from Phillip Futures said in a note.

Retail sales falter in September, posting first decline in 7 months

October 17, 2019

The decline was the first since February. Sales in a retail control group which focuses on key components that go into computations of GDP were unchanged in September after a 0.3% gain in August . Development is additionally being limited by the blurring improvement from a year ago's $1.5 trillion tax break bundle. With shopper spending easing back, a full exchange accord still tricky and subtleties of Britain's exit from the European Union vague, numerous business analysts anticipate ...

GM CEO Barra joins bargaining talks in bid to end UAW strike

October 17, 2019

CEO Mary Barra and GM President Mark Reuss joined the talks this morning with UAW President Gary Jones and Vice President Terry Dittes. A union demand that all vehicles sold in the U.S.be built here apparently has been resolved, but terms are unknown.

UK inflation holds steady at three-year low

October 17, 2019

Due to a shortage of supply, prices of the staple meat pork were one of the main drivers of the CPI uptick, while the growth rate narrowed on a month-on-month basis to 19.7 percent in September, said NBS senior statistician Shen Yun. But the central bank has been reticent to make any changes to its monetary policy stance ahead of the 31 October Brexit deadline. "BoE is likely to stay put for a while as, considering how fragile the United Kingdom economy is at the moment, a policy mistake would ...

Non-profit feeds UAW workers who don't have access to food

October 17, 2019

The entire membership also must vote. Now that GM has been nursed back to health - earning $2.42 billion in its latest quarter - they wanted a bigger share. "The number one priority of the national negotiation team has been to secure a strong and fair contract that our members deserve", said UAW Vice President Terry Dittes, Director of the UAW GM Department.

Taco Bell seasoned beef recalled over metal contamination

October 17, 2019

The issue was discovered when customers reported finding a metal shaving in their food. The alleged metal-tainted meat was produced by Kenosha Beef between September 20 and October 4, and then transported to five distribution centers (in Michigan, New Jersey, New York, Ohio and Virginia), USA Today reported .

Volvo vows to cut carbon footprint in bid to sell electric SUVs

October 17, 2019

The 402-hp crossover marks the debut of a greater Recharge lineup of battery electrics and plug-in hybrids and an era in which every customer will have to decide if they want their Volvo with a plug or without. Volvo said the XC40 Recharge will receive over-the-air updates , the first Volvo with the technology, and Volvo Chief Technology Officer Henrik Green claimed the updates will give buyers better, fresher vehicles throughout their car's life cycle.

Hexo to launch low-cost cannabis product to undercut illicit market shops

October 17, 2019

On the flip side, the low price for the trading session is presently 0.47. ACB registered activity of relative volume at 1.2. The beta factor is 0.00.A stock with a beta more than one means high volatile and less than one means low volatile.

Bipartisan House vote condemns Trump’s withdrawal from Syria

October 17, 2019

The Turkish president's comments come a day ahead of a visit by U.S. Vice-President Mike Pence to the Turkish capital Ankara. Trump participates in a joint press availability with Italian President Sergio Mattarella in the White House. At least 70 civilians, 135 Kurdish-led SDF fighters and 120 Turkey-allied Syrian fighters have been killed in the region since the offensive began, the UK-based Syrian Observatory for Human Rights said on Wednesday.

CannTrust to destroy $77M of plants and inventory, prompting share jump

October 17, 2019

Hammill called the announcement a step forward but argued that it doesn't bring any further clarity to CannTrust's situation, as much will depend on Health Canada's response. " Our goal is to meet and exceed Health Canada's regulatory standard, and to rebuild the trust and confidence of our primary regulator, investors, patients, and customers ".

UAW, GM reach tentative deal

October 17, 2019

The UAW rejected the latest offer from GM on October 6 and GM made a counteroffer the following day. That figure is unchanged in the final agreement, a person briefed on the matter said. Normally the major provisions carry over to the other two companies and cover about 140,000 auto workers nationwide. The elected national negotiators voted to recommend the UAW GM National Council accept the Proposed Tentative Agreement as the agreement represents major gains for UAW workers.

Panera Bread worker says mac-and-cheese video got her fired

October 16, 2019

The account @BriiRamirezz told Twitter followers, "lol I lost my job for this video". " Mac and cheese is made off-site with our proprietary recipe developed by our chefs and using our sourced ingredients that meet our standards for our clean menu offerings", the spokesperson said.

USA imposes sanctions on Turkey over Syria operation

October 16, 2019

President Trump's action has been widely condemned for altering the balance of power in the region. We have thousands of them. Due to the U.S withdrawal, Russian military forces are now patrolling areas of fighting in northeastern Syria between Turkish and Kurdish troops.

China's exports fall, imports contract for fifth month

October 15, 2019

China: From Trade War to Reciprocal Deal (2019), holds an optimistic stance about the recent developments. "Instability and uncertainty are increasing", a customs agency spokesman, Li Kuiwen, said at a news conference. For the first nine months of the year, Chinese imports of United States goods fell 26.4% to $ 90.6 billion. Trump has postponed raising the tariff on Tuesday for 250 billion dollars of Chinese goods.

California regulator criticizes utility over power outages

October 15, 2019

PG&E last week took the unprecedented step of cutting power to more than 700,000 customers, affecting almost 2 million Californians. PG&E said it turned the power back on for some of the 513,000 customers in 22 counties who were left in the dark around midnight Wednesday for the company's first wave of outages due to a "widespread, severe wind event ".

Harley-Davidson halts electric motorcycle production after discovering glitch

October 15, 2019

The company said it did not initially have a new date for re-starting production. Unveiled in 2014, the LiveWire sold for around US$30,000 in North America and Western Europe, according to the Harley-Davidson website. The bike also has a 4.3-inch TFT display that features Bluetooth connectivity. The Harley-Davidson LiveWire is making the headlines yet again. The first electric vehicle from the American brand features a 15.5 kWh battery pack with fast charging capabilities, and it is ...

India's growth projection may fall to 6 percent

October 15, 2019

While credit growth rate to the services sector more than halved to 13.3 per cent in August from 26.7 per cent a year ago, personal loans growth also moderated to 15.6 per cent in August from 18.2 per cent in August 2018. "The drivers of the deceleration are multiple, mainly domestic and in part long-lasting", Moody's wrote. While the funding waft would income within the medium term from the hot reduce within the effective corporate tax fee for domestic companies by Finance Minister ...

Facebook's Libra project falling apart as more big partners pull out

October 15, 2019

Speaking to CoinDesk, a Mastercard representative confirmed that it has pulled off the association . The association , whose remaining 22 members include ride-hailing firms Uber and Lyft, also consists of non-profit organisations, venture capital groups and blockchain firms.

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