Economy / 48

Grandfather's horror as toddler fatally plunges from cruise ship in Puerto Rico

July 08, 2019

Local authorities in Puerto Rico, a USA territory, were providing medical assistance and counselling to the family, Roman said. The 18-month-old tot was rushed to hospital at around 4.30pm local time yesterday (9.30pm United Kingdom time) but passed away.

Ice Cream Licker Identified, Teen Will Not Face Adult Charges

July 08, 2019

A Texas police department posted a photo of Corporal Clark and Officer Bryans also protecting their local ice cream aisle. Another person has been arrested for going to the grocery store and filming themselves opening a Blue Bell ice cream container and licking it.

Dog Treats Linked to 45 Cases of Salmonella

July 08, 2019

Some dogs infected with salmonella may not appear to be sick. Prepackaged branded pig ears are not included in the recall. Samples of bulk pig ears were collected by MDARD feed inspectors from two retailers and tested positive for Salmonella at MDARD's Geagley Laboratory.

Amazon admits it keeps some Alexa recordings

July 08, 2019

The vagueness around how and for how long would Amazon continue to collect and store data is disturbing, and many are still confused as to why it has to do it, despite the explanation given by the company. Compounding matters, developers of Alexa Skills can keep records of the interaction between an Amazon customer and Alexa. "This helps customers to understand how Alexa works", Amazon's letter says.

African leaders launch landmark 55-nation trade zone

July 07, 2019

Nigeria's President Muhammadu Buhari has finally signed the Agreement Establishing the African Continental Free Trade Area ( AfCFTA ). The first step is to cut tariffs for goods from countries within the bloc but the timeframe to do this is yet to be announced.

Deutsche Bank takes an axe to investment bank

July 07, 2019

Deutsche Bank plans to cut 18,000 jobs in a sweeping, 7.4 billion euro overhaul created to turn around Germany's struggling flagship lender. The restructuring follows the failure in April of merger talks with German rival Commerzbank. Sewing, however, said more cuts were needed to its ailing investment banking unit, which consumes most of the bank's capital and has been at the heart of various trials and fines for, among other offenses, money laundering.

Dogecoin Popularity Earns Binance Listing as Price Skyrockets 37%

July 07, 2019

Buterin was responding to a Dogecoin supported who directly ask him his take on Dogecoin . Dogecoin dev, Maximilian Keller, told Decrypt back in May "We did try to get in contact with [Coinbase], but not very seriously". It is essential also to note that previous year, Zhao said that he would no longer involve himself in deciding which crypto-coin to list on Binance .

Facebook's David Marcus clearing up Libra trust issues

July 07, 2019

The cryptocurrency on Facebook Recently, Facebook launched its own wallet to ease its users with the worries of option unavailability for credits cards, etc. "But we hope that people will respond favourably to the Calibra wallet". "I wanted to remind everyone that Facebook , through its subsidiary Calibra, is just one of the initial 28 founding members that are coming together to form the Libra Association", he said.

Strong jobs report proves surprising

July 07, 2019

The Labor Department also reported Friday that unemployment rate ticked to 3.7% from 3.6%, still remaining at a 50-year low as wages continued to increase. There are several pillars of strength for the US economy-household spending and incomes both rose at solid rates in May, consumer confidence remains relatively strong and the stock market touched a record high this week.

BMW, Daimler Partner On Self-Driving Cars 07/05/2019

July 07, 2019

The automakers said the cooperation is "non-exclusive" and partner manufacturers and technology firms will take part in the work. The agreement between the two German auto giants and long-time rivals underscores the challenges even rich carmakers face as they venture into a future with driverless vehicles.

Lagarde backed Draghi while at International Monetary Fund

July 07, 2019

While her stint at the new job could be a real challenge, her experience in monetary policy at a global level could see her make an appositive impact at one of the world's most influential central banks. The ISM nonmanufacturing PMI also dropped to 55.1 last month, its lowest level in almost two years, signaling slower growth across sectors such as real estate, retail, finance, and construction.

EVs’ acceptance to get accelerated as Budget drives-in sops

July 07, 2019

The main objective of the scheme is to encourage faster adoption of electric vehicles by way of offering upfront incentive on purchase of electric vehicles and also by establishing the necessary charging infrastructure for electric vehicles.

Officers Asked To Leave Starbucks For Making Customer Feel 'Uncomfortable'

July 07, 2019

The barista allegedly asked the officers to move out of the customer's line of sight or to leave, the tweet states. The police union also addressed the incident in a chain of tweets on Friday, calling the treatment "disheartening". "The barista said that a customer "did not feel safe " because of the police presence". A Starbucks spokesman told the Arizona Republic the company was still gathering details about what happened.

Amazon founder Jeff Bezos finalises divorce with $38 billion settlement

July 07, 2019

Jeff Bezos is still the world's richest person with a net worth of $114.8 billion. As followers of the couple know, they first got married long before the creation of Amazon in 1993. In October 1994, Bezos changed the name to " Amazon " which today is an e-commerce behemoth worth $950 billion. The billionaire's pricey purchase is said to include a three-floor penthouse apartment, as well as the two units directly below it, according to the Wall Street Journal .

Labor Department Says U.S. Employers Added 224000 Jobs In June

July 07, 2019

The industries with the highest job growth last month were in the professional and business services, health care and transportation and warehousing. On average, the economy's been adding about 172,000 jobs a month this year; that's down from last year's pace of 223,000, but chief economist Sarah House of Wells Fargo Securities says the job market remains resilient amid tariff battles and other challenges.

Evija will be the name of the new Lotus electric hypercar

July 07, 2019

Secondly, in some language Lotus did not bother to reveal, this name is supposed to mean " the first in existence " or " the living one ". Following the established tradition of giving its models names beginning with an "E", the company called it the Evija .

These Dog Treats Could Make You And Your Family Sick, CDC Warns

July 07, 2019

Bulk pig ears were distributed to Pet Supplies Plus stores in Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Illinois, Indiana, Kansas, Kentucky, Massachusetts, Maryland, Michigan, Minnesota, Missouri, North Carolina, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island , South Carolina, Tennessee, Texas, Virginia, Wisconsin and West Virginia.

Budget 2019: Government steps in to ease NBFC liquidity crisis

July 06, 2019

But just as Indian banks emerge from that three-year struggle, they face the possibility of a spate of debt defaults by non-bank finance companies, which could presage a new wave of stressed assets. Acknowledging the role of NBFCs in sustaining consumption demand as well as capital formation in SMEs, Finance Minister Nirmala Sitharaman said the government will provide a one-time six months' partial credit guarantee to public sector banks to buy high-rated pooled assets worth Rs 1 lakh crore ...

Plug-in hybrid sales drop by half in June

July 06, 2019

Sales of purely battery powered cars leapt by 62pc in June, but that failed to make up for a 50pc slump for plug-in hybrids. In terms of fuel mix, June saw a fall in alternatively-fuelled vehicle registrations for the first time in 26 months, which the SMMT blamed chiefly on a 50.4% decline in plug-in hybrid registrations, with hybrid sales also down by 4.7%.

Dollar steady as market braces for U.S. jobs report

July 06, 2019

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3%, while Japan's Nikkei and Australian benchmark were up 0.3% and 0.5%, respectively, although a US public holiday kept activity somewhat subdued. Mainland Chinese shares drifted into negative territory amid U.S. South Korea's Kospi was 0.09% higher at 2,110.59, while the Hang Seng Index in Hong Kong slipped 0.07% to settle at 28,774.83.

Gold eases before US jobs data and as equities gain

July 06, 2019

Lower rates help make gold more competitive against assets that offer interest. U.S. gold futures were down 0.1 per cent at US$1,419.90 an ounce. The metal is set for a weekly decline of 1.3%, which could be its biggest since end-March. "US stock markets are probably part of the reason why gold is not picking up pace again immediately", Commerzbank analysts said in a note. Gold is often seen as an alternative investment during times of political and financial uncertainty.

Canopy Growth Founder And Co-CEO Bruce Linton Stepping Down

July 06, 2019

Canopy Rivers' stock on the TSX Venture exchange was down roughly three per cent to $3.00 at market close. Linton merely said in the release that both he and the board had agreed "my turn is over". "We are also excited to embark upon our next phase of growth as global leader in the cannabis industry". "For this, Linton's work must be applauded".

US Fed doesn't know 'what they're doing': Donald Trump

July 06, 2019

Many investors have anticipated that the Fed would cut rates when it meets later this month, but with such a strong indicator on the economy that could be less likely. Congress on the economy next week could shed light on the near-term outlook for monetary policy . Economists surveyed by Bloomberg expected 160,000 job gains.

Korea for boycott of Japan amid row

July 06, 2019

Assuming its final numbers match with today's guidance, as they usually do, it would be the second consecutive quarter where Samsung's operating profit fell by more than half from the year earlier. But there could be some problems in the near future for Sammy's displays and memory chips businesses . Two Points: Watch the USA chipmakers since this news may have a trickle-down effect.

BMW CEO to step down in wake of disappointing earnings

July 06, 2019

Discussions over a replacement will take place at a board meeting on July 18, bosses said. BMW AG Chief Executive Officer Harald Krueger has informed the luxury carmaker's supervisory board that he won't seek a second term after mounting speculation about the executive's future.

Amazon and Deliveroo under investigation by UK competition watchdog

July 06, 2019

The initial enforcement order sought to block the firms from carrying out steps that would lead to a de facto merger or control of Deliveroo by Amazon pending review by the CMA, although some if the terms of order were relaxed at the request of the companies.

Trump again calls on Fed to juice an already-strong economy

July 06, 2019

Investors got rattled by government data showing an unexpected burst of hiring last month. Such a conundrum was evident on Friday as stocks fell in response to stronger-than-expected USA payrolls data, which dampened expectations of a Fed rate cut.

Jim Beam fire continues to smolder, neighbors keep vigilant eyes on river

July 05, 2019

The warehouse in Versailles, Ky., caught fire Tuesday night - possibly due to a lightning strike - and has been hard to extinguish because of the abundance of alcohol that's leaked into a nearby creek and the Kentucky River. We're glad to hear that this Jim Beam warehouse and their bourbon will not suffer from this fire! With so much wood and alcohol in the buildings, fire spreads rapidly.

London jobless rate declines in June amid shrinking labour force

July 05, 2019

Thomas, Strathroy, and other surrounding communities, dripped slightly to 4.9 per cent last month, down from 5 per cent in May. The jobless rate was up 0.1 percentage points from May, as an additional 30,000 people began looking for work, Statistics Canada said.

China says trade deal not possible unless United States lifts all tariffs

July 05, 2019

Commenting on the USA side's recent claim that China agrees to purchase large quantities of US agricultural products, Gao said China and the United States are strongly complementary in agricultural trade and have huge room for cooperation.

Jaguar Land Rover announces major electric vehicle investment in West Midlands

July 05, 2019

An all-electric version of the Jaguar XJ sedan replacement will be the first new battery-powered vehicle, followed by others. FILE PHOTO: New Land Rover cars are seen in a parking lot at the Jaguar Land Rover plant at Halewood in Liverpool, northern England, September 12, 2016.

U.S. Private Sector Job Growth Reaccelerates Less Than Expected

July 05, 2019

July 25, 2013. Small businesses with less than 50 employees shed 23,000 jobs in June, the report said. On the other hand, construction lost 18,000 jobs and two other industries, natural resources/mining and information, also finished down from May.

Elon Musk’s Tesla Model 3 Sets New Records In Safety And Speed

July 05, 2019

Now, people can start associating the words "safety" and "speed" to the brand as the Model 3 reportedly set new records for being one of the safest cars today, as well as breaking previous records for being the fastest EV on a race track.

BMW X7 Pick-up concept revealed

July 05, 2019

Together they are able to reach even the remotest corners of the world. The idea of BMW building a premium double cab bakkie to compete with the Mercedes X-Class has been the subject of speculation for years now. In keeping with the BMW brand's sustainability strategy, a vehicle returned from testing formed the cost-efficient basis of the concept , which the trainees consequently saved from being scrapped.

Plane From JFK Makes Emergency Landing At Logan Airport After Cabin Fire

July 05, 2019

Investigators believe the fire was sparked by a malfunctioning battery pack in a phone charger. All 217 passengers aboard Flight 138 were safely evacuated after the Airbus A330 landed at Boston's Logan Airport about 9 p.m. Passenger Cory Tanner shared this photo captioning it: "Coming up on 13 hours of traveling and police are here so the crowd doesn't get angry". "Our cabin crew are trained to a high standard and acted quickly to deal with this situation", the airline said.

Markets Right Now: Stocks slip as hopes dim for a rate cut

July 05, 2019

Friday's report comes after disappointing job growth in the private sector, with employers adding just 102,000 jobs to their payrolls in June - falling short of analyst expectations of 140,000. The Fed has expressed concern about threats to the economy, especially from Trump's trade wars, and about inflation remaining persistently below its 2% target level.

IBM & partners launch blockchain platform for retail leasing

July 05, 2019

Lygon will be working by digitizing the issues related to the management of bank guarantees in the retail property lease sector. Historically, these guarantees have been issued manually and on paper, with the process taking up to a month.

Amazon can be held liable for 3rd party seller products: court

July 05, 2019

Oberdorf said she purchased a dog collar from Amazon's marketplace in December of 2014. Several weeks after Oberdorf began using the collar, her dog lunged while on a walk and broke the collar's ring, causing the retractable leash Oberdorf was holding to recoil.

Tax cuts set to benefit Aussie homeowners

July 05, 2019

The tax cuts are a welcome relief to Australia's central bank, which has said government action was needed to boost consumer spending in order to revive an economy that is growing at its slowest pace in a decade. "The economy needs that, the economy needs that now", he added. The plan was approved by the lower house of parliament on Tuesday but the vote was in doubt in the senate where the governing coalition does not have a majority.

Budget 2019: Home Loans Interest exemption increased for affordable homes

July 05, 2019

Sitharaman was seen carrying the red cloth wrapped budget papers that was neatly bound with the auspicious yellow and red ribbon. As the first woman finance minister in 45 years Nirmala Sitharaman has traded in the iconic "budget briefcase" for a budget bahi khata.

Oil prices edge down, pressured by U.S. supply

July 05, 2019

Output will stay limited as the Organization of the Petroleum Exporting Countries and other producers such as Russian Federation, a group known as OPEC+, agreed on Tuesday to extend oil production cuts until March 2020. The global benchmark crude traded at a premium of US$6.38 to WTI for the same month. According to the EIA, total motor gasoline inventories decreased by 1.6 million barrels last week and are at the five year average for this time of year.

International Monetary Fund approves US$6 bil loan for Pakistan

July 05, 2019

The Executive Board of the IMF will give its final nod to the agreement under which Pakistan will receive six billion dollars loan package from the lender in three years under the extended fund facility. Our program supports broad based growth by reducing imbalances in the economy. "A structural reform agenda which includes improving public finances & reducing public debt through revenue reforms is key part of the program".

China says US tariffs must be lifted for a trade deal

July 05, 2019

CNN pointed out that it is unclear whether companies are relocating production to locations outside of China or rerouting goods before they are exported to the U.S.to circumvent tariffs. Turning our attention to the on-again-off-again U.S. The United States now has tariffs of 25 per cent on $250 billion (£198 billion) of Chinese goods, ranging from furniture to semiconductors.

FDA Warns Some Dry Dog Foods May Cause Heart Disease

July 04, 2019

The U.S. Food and Drug Association issued a warning about popular pet food brands that are potentially linked to heart disease in dogs. In July 2018, the study began investigating diagnosed cases of the disease that had been reported to the FDA.

Modi government 2.0`s first Economic Survey

July 04, 2019

The government on Thursday warned in a study that its population is going to start to age and it needs to be prepared to merge schools and raise the retirement age. Imports are slated to grow at 15.4 per cent while exports are projected to grow at 12.5 per cent for the year 2018-19. On the other hand, share of elderly, 60 years and above, population will continue to rise steadily, almost doubling from 8.6 per cent in 2011 to 16 per cent by 2041.

Vancouver home sales slump to 19-year low in June

July 04, 2019

The residential home sales in the region totalled 2,077 in June, 14.4 percent decrease from the 2,425 sales recorded in June 2018. June 2019's sales also continued the trend of monthly sales falling below the 10-year average, with the month's sales dipping below the 10-year June sales average and reaching the lowest total for the month since 2000.

Don't Lick Ice Cream & Put It Back in the Stores Freezer!

July 04, 2019

Earlier this week, police say social media users identified the woman in the video as being from San Antonio , which led law enforcement there to believe it happened in one of their stores. Out of an abundance of caution, we have also removed all Tin Roof half gallons from that location. "Our biggest concern is consumer safety - in that regard we are glad to see the tainted product off the shelves", Gerald Williamson, Lufkin's director of public safety, said on the town's Police & Fire ...

Woolworths to combine alcohol and hospitality businesses ahead of demerger plans

July 04, 2019

Woolworths said the separation would deliver benefits from a simplified organisational structure and greater focus on its core food and retail businesses. The integrated Endeavour Group will be a substantial business in its own right with more than 1500 BWS and Dan Murphy's retail drinks outlets and 327 ALH hotels.

Baidu AI Developer Conference

July 04, 2019

As his heckler turned around and walked away, Li was heard saying in English, "What's your problem?". It was not immediately clear who the man was or what his motives were, and Baidu did not immediately respond to a request for comment. Beijing police said a man had been placed in administrative detention on suspicion of "picking quarrels and provoking trouble". Baidu, also called China's Google, and Li have always been targets of public anger over perceived problems linked to searches in ...

$0.83 EPS Expected for Brookfield Infrastructure Partners LP (BIP)

July 04, 2019

P/E provides a number that details how many years of earnings it will take a stock to recoup the value of one share at current price levels. Brookfield Renewable Partners L.P. Finally, Scotia Capital Inc. increased its position in shares of Brookfield Infrastructure Partners by 15.2% during the fourth quarter. Brookfield Infrastructure Partners L.P.'s EPS for the trailing 12 months is 0.12.

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