Economy / 26

Toys R Us planning small-scale comeback by Christmas

June 22, 2019

Like a phoenix rising from the ashes of video games and action figures, Toys R Us is set to return to the USA later this year. Those remaining in Canada, Europe, Asia, and Africa were sold to third-parties with Tru Kids acting as a licensor of the brand.

What is the U.S. military done shot down by Iran?

June 22, 2019

Iran state media said the drone was brought down over the southern Iranian province of Hormozgan - located on the Gulf - with a locally made 3 Khordad missile. A source had confirmed to Fox News earlier Friday morning that the administration made a last-minute decision to call off the retaliatory strikes against Iran.

South Korean brands again sweep JD Power's US initial quality survey

June 22, 2019

Power, with about half of the domestic brands better than average and all European brands below average. In particular, Hyundai owners reported three fewer problems per 100 vehicles than past year, the Seoul-based automaker said on June 19.

US Fed holds interest rates steady, but signals cuts could come

June 22, 2019

The central bank also said that because "uncertainties" have increased, it would "act as appropriate to sustain the expansion". Another interesting thing was that he said the Fed has not yet discussed whether rate cuts should be 25bp or 50bp.

Facebook urged to pause Libra crypto-currency project

June 21, 2019

Facebook said there are already a number of major companies backing the new financial system, which will compete with others like bitcoin - including MasterCard, Uber, PayPal, eBay and Spotify. Facebook, along with other tech giants, is already under governmental scrutiny over privacy and antitrust concerns. The financial industry is more heavily regulated than internet companies - especially in the USA, where tech companies have often been given free rein.

Apple Warns New Tariffs Would Impact iPhones, iPads, Macs

June 21, 2019

The countries being considered include Mexico, India, Vietnam, Indonesia and Malaysia. Among these countries, India and Vietnam are the favourites which makes sense, given with their much lower currency and the amount of labour workforce. "The Chinese producers we compete with in global markets do not have a significant presence in the USA market, and so would not be impacted by USA tariffs".

Asia Stocks Seen Mixed With S&P 500 at Record High

June 21, 2019

Policy makers kept their key rate in a range of 2.25% to 2.5%. That suggests about 31 basis points of rate cuts by then. Taking all of this into equation, the SPI futures are down 4 points. The Stoxx Europe 600 was little changed. The MSCI Asia Pacific Index rose 0.8% as of 12:05 p.m.in Tokyo.Topix Index rose 0.3%.Kospi Index gained slightly.S&P/ASX 200 Index advanced 0.2%.Hang Seng Index rose 0.8%.Shanghai Composite Index added 1.5%.S&P 500 Index futures rose 0.3%.

Slack surges to $23 billion valuation in public market debut

June 21, 2019

Some have floundered, others have flourished; it'll be a matter of time before we know how investors truly feel about Slack's prospects in the open market. The opening trade size for shares of the workplace messaging software company totaled $1.75 billion as investors began snapping up the stock Thursday afternoon.

Wheels Someone went and built a Tesla Model 3 ute. Yes, really

June 21, 2019

You can even see the final product doing donuts in a farmer's field in a commercial they shot for the Truckla. Instead of waiting for Elon Musk and Tesla to stop buying toilet rolls and get onto manufacturing its long-promised pick-up, Giertz and her team took matters into their own hands.

Oil slips below $54 as trade fears outweigh USA demand

June 21, 2019

Worldwide benchmark Brent crude was trading at $62.42 per barrel at 0636 GMT for a 0.24% gain after closing Tuesday at $62.27 a barrel. US crude and global benchmark Brent crude turned positive immediately after the data was released and then eased slightly.

Apple weighs production shift from China

June 21, 2019

Apple has asked its key suppliers to evaluate production and assembly options outside of China as it seeks to diversify its supply chain. It's unlikely that iPhone production will move to the US, though. The administration is now reviewing imposing similar tariffs on an additional $300 billion worth of imports, which would effectively extend the tariffs to all goods now imported from China.

Harley-Davidson inks deal to build small motorcycles in China

June 20, 2019

President Trump past year threatened Harley with higher taxes in response to its plans to move production for European customers overseas, part of the company's strategy for dealing with falling sales in its home market and increased costs due to higher trade tariffs.

Zuckerberg ahead of Cook, behind Pichai in top CEOs index

June 20, 2019

CEO approval ratings are determined based on the quantity, quality and consistency of reviews, according to the website. "Honored and humbled" to make Glassdoor's SMB list, Grossé agreed with Dowling that awards based on employee feedback are "most meaningful".

Adidas Lose 'Three Stripe' Trademark After European Court Ruling

June 20, 2019

Adidas said it had not decided whether to appeal against Wednesday's decision at the European Court of Justice, the bloc's highest court. The German sporting goods company has trademark protection for its slanted three-stripe logo. The court also required Adidas to prove that its trademark, registered in 2014, had acquired a " distinctive character " across the European Union and that consumers could distinguish it from the products of another brand.

FBI Intervenes In Strange Dominican Republic Tourist Deaths

June 20, 2019

Dominican authorities have asked the Federal Bureau of Investigation to help conduct tests in some of the cases, according to a U.S official. "I truly believe if she was anywhere else in the world besides the Dominican Republic she'd be alive right now", Will Cox said .

IBM's Pangea III is the world's most powerful commercial supercomputer

June 20, 2019

IBM announced it has built Pangea III, the world's most powerful commercial supercomputer for Total, a supermajor global energy company operating in more than 130 countries. Total did not say how much it had invested in the new supercomputer. In its press release, IBM noted that Pangea III is three times more efficient from a power-consumption point of view than Total's predecessor.

Qantas is giving its frequent flyer programme an overhaul

June 20, 2019

In the past years, many business travelers have excoriated carriers like British Airways for charging egregious fees on top of global award seat bookings - fees that often cancel out the core value of the "free" seat. The complaints from members under the old system were not about point requirements being too high, but about the extra cash fee of the carrier charge, and the lack of availability of seats for busy dates and routes.

Kia Seltos SUV unveiled in India: Check specifications, features, expected price

June 20, 2019

Mechanically, Kia Seltos will be offered in both petrol and diesel fuel trims with BS VI compliant 1.5L 4-cylinder engines. Will come with three driving modes - Eco, Normal and Sport. One of the petrol engines is a 1.4-litre turbocharged unit while the other is a 1.5-litre naturally aspirated engine. The 1.4-litre turbo petrol will get a 7-speed DCT automatic.

Walmart introduces unlimited grocery delivery plan

June 20, 2019

The company is testing the service, called Delivery Unlimited, in Houston, Miami, Salt Lake City, and Tampa, a Walmart spokeswoman told Business Insider. That move was essentially the inverse of what Walmart is doing with Delivery Unlimited, though the common thread is that both companies are casting a wider net to reach delivery-curious customers.

Miami Heat Intend to Keep Acquired Pick From Atlanta Hawks

June 20, 2019

The haul back: Grayson Allen, Kyle Korver, Jae Crowder, the 23rd pick in Thursday's draft, and a future first-rounder. According to ESPN's Jonathan Givony, the Hawks have made 8 and 10 available to the Knicks at No. In the event that Garland did go No. 3, then either Barrett or Morant (presumably Barrett) would fall to No. 4, a pick very much available to the highest bidder, as we wrote about the day of the Anthony Davis trade.

What the Federal Reserve's rate cut decision means

June 20, 2019

President Trump has urged the central bank to cut rates for months to boost growth. The central bank kept rates unchanged. US stocks closed higher with the Nasdaq up the most (0.4 per cent) on the US Federal Reserve hinting that a rate cut could be close.

Oil prices hold steady amid Mideast tensions, weak economic data

June 20, 2019

And to complicate the matter even if OPEC extends their supply compliance, given the burgeoning non-OPEC supply as evidenced in the latest United States inventory reports, OPEC+ will face a scabrous task balancing the current supply with the demand side of the equations.

GM Mulls Potential Return of Hummer Brand

June 20, 2019

However, Bloomberg now reports that the American automaker is mulling over reviving the iconic brand, albeit as an all-electric offering. "We intend to create an all-electric future that includes a complete range of EVs, including full-size pickups", she said at the time.

Federal Reserve holds rates but signals cuts could come later this year

June 19, 2019

Policymakers at the US central bank - who dropped the word "patient" from the statement - said they expect one rate cut next year and one rate hike in 2021. Despite the hints at rate cuts to come, the Fed still has a positive view about the economy. The Fed's median forecast for next year, by contrast, pencils in two easings to a funds-rate target of 2.1 percent.

Facebook Reveals Its Cryptocurrency Play

June 19, 2019

It says that "moving money around the world should be as easy and cheap as sending a text message". It'll be created to be scalable, secure and fast and will be with us in 2020. She also pointed to data leaks, a problem that could be disastrous if Libra gets the 1 billion plus users that it hopes for. Others in the twitterverse keenly pointed out that Libra could just as easily be tracked in a database rather than a blockchain, and some pointed out that it isn't really a cryptocurrency .

On the Road to $10,000: Bitcoin Price Reaches New Yearly Highs

June 19, 2019

ATBCoin (ATB) traded 27.3% higher against the dollar and now trades at $0.0192 or 0.00000210 BTC . On June 15-16, the BTC started trading so well that the target of nine thousand dollars ($9,000) seems to be achieved in the near future. Namecoin (NMC) traded down 5.9% against the dollar and now trades at $0.61 or 0.00006700 BTC. CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0205 or 0.00000392 BTC.

Krispy Kreme giving away new filled doughnuts for free on Saturday

June 19, 2019

Krispy Kreme is giving the original filled doughnuts away on Saturday because customers met the challenge of 1 million doughnuts given away on National Doughnut Day on June 7. "We choose to fill out Original Glazed doughnuts, not because it is easy, but because it is hard (no disrespect intended, JFK)", the company said in an inspiring speech.

This Aussie city could soon have direct flights to San Francisco, Chicago

June 19, 2019

Qantas is expected to add two new routes - including the fourth-longest passenger flight in the world - from Brisbane to the United States in the next 12 months, once authorities approve its deal with American Airlines. "These flights would make it one stop from Chicago to Hamilton Island or San Francisco to Townsville". Prior to today's announcement there have been no direct flights between Australia and the midwest.

Air Canada named best airline in North America for third consecutive year

June 19, 2019

The annual World Airline Awards, established by Skytrax in 1999, is internationally recognized as the "Oscars" of the aviation industry to recognize the best-performing airlines. Skytrax CEO Edward Plaisted said the awards were given entirely independent of each airline's customer base, as travelers from more than 100 countries had voted for their favorite airline in a survey with 21.65 million eligible submissions.

Nikki Fried Trashes Republicans Ahead of Trump Rally

June 19, 2019

Hours before President Trump was due to hold a rally in Orlando billed as the kickoff to his reelection campaign, the Orlando Sentinel announced who it is endorsing for president in 2020: not Donald Trump . Trump says his re-election launch will be a political spectacle. The movement theme was also part of Vice President Mike Pence's speech, prior to Trump's remarks.

Facebook announces entry into cryptocurrency market with Libra

June 19, 2019

Facebook's goal is to provide users with a way to send money to other social network citizens via smartphone "at little or no cost". Additional services will be provided to those using Libra later on, including the option to pay their bills.

UK-listed firms become 1st foreigners to sell stocks in mainland China

June 19, 2019

Under the Connect scheme, Shanghai-listed companies can raise new funds via London's stock market while companies on the London Stock Exchange can broaden their investor base by selling existing shares in Shanghai. The Shanghai-London Stock Connect has been developed jointly by the Shanghai Stock Exchange and London Stock Exchange Group, with the support of both the Chinese and United Kingdom governments and in collaboration with regulatory authorities.

Google invests $1 billion to ease housing shortage near California headquarters

June 19, 2019

The remaining $250 million will create an investment fund to offer developers incentives to build 5,000 affordable homes throughout the San Francisco Bay Area. As for a timeline, Google is aiming to begin building "immediately" and wants "homes to be available in the next few years", the executive said. "That's going to require a multifaceted commitment by a lot more entities, primarily local governments, to match what Google has done".

B.C. First Nation plans legal challenge over Trans Mountain decision

June 19, 2019

Many indigenous people see the 620 miles (1,000 kilometers) of new pipeline as a threat to their lands, echoing concerns raised by Native Americans about the Keystone XL project in the U.S. The project is to replace an aging conduit built in 1953 to deliver 890,000 barrels of oil a day from landlocked Alberta to the Pacific coast for shipping to new markets in Asia and elsewhere.

Elon Musk's Twitter account "just deleted", Tesla founder says

June 19, 2019

Musk also changed his profile picture to a black circle and changed his name to Daddy DotCom. A stream of replies and tweets have been jostling back and forth. While Musk remains CEO of the electric auto company, the settlement also required him to relinquish his role as chairman for at least three years. Musk also is embroiled in a defamation lawsuit for a tweet that described a British diver involved in a rescue of boys trapped in an underwater cave in Thailand as a pedophile.

Markets jump as Draghi hints at more eurozone stimulus

June 18, 2019

Most recently, Powell suggested the Fed was prepared to respond to economic impacts from muted inflation and the U.S. Speaking at the European Central Bank annual conference in Portugal, Mr Draghi said the European Central Bank will need to use additional stimulus if inflation does not head back to its target.

Boeing executives apologise over deadly air crashes

June 18, 2019

Speaking on Sunday before the Paris Air Show , Muilenburg told reporters that Boeing engineers learned in 2017 that a warning light in the cockpit of its top-selling Max, created to alert pilots when the two angle-of-attack sensors disagreed, didn't work as intended.

Facebook announces Libra cryptocurrency and Calibra digital wallet, will arrive next year

June 18, 2019

The details: The Libra team will be governed by a nonprofit foundation called Calibra , based in Switzerland. Cryptocurrencies operate on a "blockchain", a record of transactions created to be resistant. Facebook did its best to allay those concerns today, saying that Calibra will have "all the same verification and anti-fraud processes that banks and credit cards use", including automated systems meant to detect and stop fraud.

Pillsbury flour made in Buffalo recalled due to possible E. coli contamination

June 18, 2019

However, elderly individuals or young children may be at increased risk of serious complications, and a suspected E. coli infection should not be taken lightly. coli bacteria that can cause diarrhea. On June 13, King Arthur Flour announced a nationwide recall of select bags of its 5-pound Unbleached All-Purpose Flour.

Here's how you can get free Taco Bell today

June 18, 2019

You can also order it through Taco Bell's website or mobile app to score the free taco anytime throughout the day. As part of Taco Bell's "Steal A Game, Steal A Taco" promotion, all of America gets a free Doritos Loco taco while supplies last.

Facebook's cryptocurrency gets $10m each from Uber, Paypal, Mastercard and Visa

June 18, 2019

As per the WSJ , Facebook's anticipated cryptocurrency has received the backing of "more than a dozen" industry players including heavyweights such as Paypal Holdings , Mastercard , Uber , and Visa . The white paper is expected to be published on June 18 . Members of the consortium can serve as nodes to verify transactions and come together towards creating a brand-new global payments network.

Elon Musk Doesn't Learn, Posts Uncredited Artwork, Deletes Tweet

June 18, 2019

Less than two months after a squashed legal dispute with federal regulators, Elon Musk announced Monday that he had deleted his Twitter account after his tweets caused yet another controversy. When some of his 27 million followers called out to Mr. Musk to credit the artist, the billionaire responded with tweets saying "no" and "it's top secret".

United Airlines Plane Skids Off Runway at Newark Airport

June 18, 2019

The FAA said the plane skidded off the pavement and its landing gear became stuck in a grassy area, but United spokesman Robert Einhorn said the plane remained on the runway. "The aircraft will be towed off the airfield after passengers leave the aircraft via stairs". Flights in and out of Newark were delayed for about an hour while passengers deplaned and the aircraft was moved, the FAA said, adding that its investigators were en route to the airport.

Huawei braces for a steep drop in overseas smartphone sales

June 17, 2019

Broadcom, which has not been lobbying the Commerce Department, sent a shockwave through the global chipmaking industry when it forecast that the US-China trade tensions and the Huawei ban would knock US$2 billion off its sales this year. Huawei is now facing charges in the U.S. for allegedly stealing trade secrets from T-Mobile. The beleaguered Chinese mobile giant makes both telecoms equipment and devices, with demand for 5G kit and smartphones resulting in a 21 per cent rise in annual ...

Health Canada to allow some edible cannabis products starting mid-December

June 17, 2019

The December launch date is calculated by being 60 days after regulations for those products coming into force on October 17. The final regulations come after a recent report from Deloitte, which found Canadian market for edibles and extracts is worth an estimated $2.7 billion annually.

Lawsuits claim Amazon's Alexa records kids without their consent

June 17, 2019

These kids themselves never consented, if they even could. Amazon announced in January of this year that more than 100 million Alexa devices have been sold worldwide. One of the lawsuits seeks damages up to Dollars 100 a day while the other wants damages of USD 5,000 per violation. It also has a one-year free subscription of FreeTime Unlimited, that provides Alexa features exclusively for kids.

Toyota Announces New Features for 2020 Model-Year Line-Up

June 17, 2019

Toyota isn't exactly clear on what "a pre-determined period of time" means exactly, but promises smartphone compatibility in the future as an extra safety measure. The system will also give enhanced audible and visual warning to drivers to remind them to turn off the engine. Toyota offers no indication of how long the rollout of the features might take.

Google CEO Sundar Pichai predicts India vs England final

June 16, 2019

Mike Pompeo the, United States Secretary of State, also talked about cricket, he said, "I understand that you've been having deep, important conversations among you about one of the most important global events of our day, something with major potential to change the world, deep worldwide events that capture the attention of billions and billions of people".

Chewy Soars in Trading Debut After $1.02 Billion IPO

June 16, 2019

Between 2011 and 2018, Chewy's sales grew from $2 million to $3.5 billion, an over 400 percent annual growth rate. The web-based pet food and supplies seller saw its stock jump as much as 88 percent moments after it opened mid-morning. Chewy co-founder Ryan Cohen sees plenty of growth left for the company and long gone are the company's early days when it struggled to attract capital.

Biden criticises Amazon for not paying federal taxes in 2018

June 16, 2019

A closer look at the internet giant's tax disclosures over several years paints a more complicated picture: Amazon has paid income taxes somewhere, albeit at a low rate, likely helped by deductions and incentives related to investment, research and employee compensation.

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