Economy / 101

Facebook Cancels Calibra in India, Thanks to Govt's Crypto Loathing

July 10, 2019

However, litigation challenging the RBI's ban is underway before the Supreme Court of India. The financial boycott has constrained practically the majority of the exchange companies in the industry in the nation which has led to them closing down their business or having to move somewhere else.

Ford recalls 58K Focus models again due to incomplete software update

July 10, 2019

Ford has issued a recall for about 58,000 Focus models in North America due to the fact that a software update as part of a previous recall was incomplete. Ford says it is unaware of any reports of crashes or injuries related to this issue. The cars were built at the Wayne Assembly plant outside of Detroit, Ford said.

European Commission cuts growth forecast for eurozone

July 10, 2019

External risks included the extended economic confrontation between the USA and China, together with the elevated uncertainty around United States trade policy, but also the tensions in the Middle East, which raised the potential for significant oil price increases.

Gatwick Airport resumes flights after ‘systems issue’

July 10, 2019

A Gatwick spokesman said earlier: "Due to an air traffic control systems issue in Gatwick's control tower, flights are now suspended". Passengers on flights grounded at the airport posted photographs on Twitter to complain about the delays to their flights.

Bond yields creep higher as markets wait for Fed signals

July 10, 2019

Powell stressed that the USA economy is still growing, albeit at a slower pace, as a record-long expansion begins its 11th year. The president has been Powell's harshest critic, and in recent days hinted about his authority to demote or fire him.

Doctor Shares 'Offensive' Outfit She Was Told To 'Cover Up' On Flight

July 10, 2019

Rowe believes there was nothing inappropriate about her outfit and that she was the victim of hypersexualization of Black women's bodies . Once outside, she was met by another another attendant who inquired if she had a jacket before explaining that the ensemble she was wearing, a printed strapless romper, was deemed "too distracting" by members of the flight crew.

Moment plane engine in U.S. failed caught on camera

July 10, 2019

Delta confirmed the incident in a statement to Storyful, writing: "The flight crew of Delta flight 1425 from Atlanta to Baltimore elected to divert to Raleigh, North Carolina, after receiving an indication of an issue with one of the aircraft's engines ".

Bank of Canada holds rates, frets about trade war damage

July 10, 2019

Barclays Capital analyst John Aiken wrote no longer too lengthy previously that the "skill for the banks to grind out mid-single digit earnings growth for the year could presumably well maybe point out no longer easy", and that a Financial institution of Canada rate-reduce could presumably well maybe concern the outlook of lenders who're more exposed to the Canadian market.

IBM Acquires Linux Developer Red Hat For $34 Billion

July 10, 2019

Previously, the company has made it clear that Red Hat will operate as a distinct unit within IBM's Hybrid Cloud team. Analysts point out both IBM and Red Hat have built major enterprise cloud businesses with consistent strong revenue growth.

NHS health information available through Amazon's Alexa

July 10, 2019

The NHS has teamed up with Amazon to allow elderly people, blind people and other patients who can not easily search for health advice on the internet to access the information through the AI-powered voice assistant Alexa . It's hoped the world-first collaboration will empower people to take greater control of their health and care. Adi Latif is registered blind and works for AbilityNet, a charity which helps disabled people use technology.

Deutsche Bank lay off affects 18,000 employees in Bengaluru, New York, Sydney

July 10, 2019

Nine investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Shares of DB stock opened at $7.54 on Tuesday. Sell-side analysts predict that Deutsche Bank will post 0.6 earnings per share for the current year. DekaBank Deutsche Girozentrale boosted its position in Deutsche Bank by 12.0% during the first quarter.

Cisco Acquisition Sends Acacia Communications Shares into Orbit

July 10, 2019

David Goeckeler, EVP/GM of Cisco's networking and security business outlined the rationale for the takeover as follows: " Optical interconnect technologies are becoming increasingly strategic with the explosion of bandwidth in the multi-cloud era".

Libra must be regulated: China’s central bank, PBOC official

July 10, 2019

Libra is a new cryptocurrency , a digital currency developed by Facebook that uses cryptography and powered by Blockchain, a method of protecting information, to verify transactions. Credit money is a future monetary claim, like an IOU. However, China can not make such a regulation. China, in particular, is concerned over the potential impact the dollar-dominated composition of the Libra basket will have on cross-border payments, monetary policy and financial sovereignty.

China's producer prices up 0.3% in H1

July 10, 2019

The average price of fresh fruit soared 42.7% year-on-year in June, more than one-and-a-half times the growth of 26.7% in the previous month and hitting the highest level since June 2006, NBS data showed . "But I think the days of big drastic stimulus are probably over". Non-food prices rose 1.4 percent year on year, 0.2 percentage points lower than that of May.

Oil edges up on supply cuts; trade worries limit gains

July 10, 2019

Brent has risen nearly 20% in 2019, supported by the pact and tensions in the Middle East, especially the row over Iran's nuclear program. U.S. West Texas Intermediate (WTI) crude futures rose 40 cents, or 0.7%, to $57.93 a barrel. The U.S. Energy Information Administration report on crude oil inventories is due to be released at its regularly scheduled time on Wednesday at 10:30a.m.

Greek conservative government sworn in

July 10, 2019

That brings about a lack of confidence and investment, " Eurogroup president Mario Centeno said after the meeting. Critics say that requirement has shackled government spending and stifled the country's recovery. Its leader, Kyriakos Mitsotakis , will become prime minister. He replaced Alexis Tsipras , whose left-wing Syriza party got 31.5 percent of the vote.

Asia cautious as everything rides on dovish Powell

July 10, 2019

Seoul rose 0.4 percent, while Wellington jumped 0.6 percent and Taipei gained 0.5 percent with Manila and Jakarta also up. The jobs figures "have been a good reminder that the market may have gone well ahead of itself when it comes to the pricing of an eventual monetary easing in the United States", Ipek Ozkardeskaya, senior market analyst at London Capital Group, said in a note on Tuesday.

Data breach lands Marriott chain £99m fine

July 10, 2019

British Airways will now have an opportunity to make representations to the ICO regarding the findings and proposed sanction (and it is expected that British Airways will appeal the fine ). The ICO can seek a fine of up to 4% of a company's global annual revenue for a breach under the GDPR. The hack likely took place in 2014 and targeted a Starwood database, two years before the company was acquired by Marriott.

Forget the iPhone 11: Expect Three 5G iPhones in 2020

July 10, 2019

The note goes on to predict that the growth rate for Apple's services business too will fade over the next few quarters. However, Apple is supposedly working on 5G iPhones , as well as a cheaper iPhone model, for 2020. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company.

Burger King, yes Burger King is now selling tacos

July 09, 2019

A single Halloumi Burger retails at £3.99 - and customers can pick it up for £5.99 in a meal deal. The double costs £5.49 and the double meal £7.49. Burger King's tacos are standard issue: ground beef, shredded cheddar cheese, lettuce and taco sauce wrapped in a crispy tortilla shell.

France 'will introduce eco-tax' on flights out of France

July 09, 2019

The "ecotax" costing between 1.50 euros ($1.7) and 18 euros ($20) will apply to most flights departing in France , Elisabeth Borne said. Shares in airlines across Europe fell on the news, with Air France (AIRF.PA) down 5.2%, Ryanair (RYA.I) down 4.8%, easyJet (EZJ.L) down 4% and Lufthansa (LHAG.DE) down almost 3% at 1255 GMT.

New electric Mini Cooper SE revealed … and confirmed for SA!

July 09, 2019

Visually distinguishing the SE from regular Minis are a blocked-off front grille, unique badging, a different rear diffuser without any exhaust tips, and yellow accents on the grille, fender trim, and mirror caps. We can expect official USA range figures to be down a bit from there. There are logos front and rear - as well as on the cover for the charging connector, although this is in the same location as the fuel cap.

Disney Recalls Thousands of Toy Story 4 Forky Plush Toys

July 09, 2019

The tracking code information is also sewn in a label attached to the base of the toy. If you've purchased one of these toys, you can return it to Disney for a full refund . A "Forky" plush toy made by Disney appears in a photo provided by the U.S. Consumer Safety Commission in July 2019. About 80,000 units were sold in the United States and Canada from April 2019 through June 2019 for about $20.

Branson's Virgin Galactic to go public

July 09, 2019

Virgin Galactic will merge with Social Capital Hedosophia (SCH), a company formed by venture capital firms Social Capital and Hedosophia. The deal has an enterprise value of 1.5 billion United States dollars (£1.2 billion) and is expected to give current shareholders of SCH a 49% stake in the enlarged firm.

Robocall ban should target texts and foreign calls, FCC chief says

July 09, 2019

The new rules are supported by over 40 state attorneys general, including Michigan Attorney General Dana Nessel, and would give the FCC the ability to hold the people responsible for robocalls responsible. On Monday, the FCC released a new proposal that would finally close a loophole that keeps authorities from pursuing scammers that target United States callers.

Instagram announces new features to help counter bullying

July 09, 2019

In an exclusive interview last month, Instagram head Adam Mosseri , told "CBS This Morning" Gayle King how this new feature will help give users more control. He wrote: "We know bullying is a challenge many face, particularly young people". Moserri says that often online bullying goes unreported because targets are scared that blocking a user could lead to heavier repercussions.

France urges European Union candidates for Lagarde-succession

July 09, 2019

The issue is not on the formal agenda of Monday's meeting as the International Monetary Fund itself has not even yet opened the procedure to find a new managing director. Other names under consideration are the outgoing EU Competition Commissioner Margrethe Vestager , the World Bank's chief executive Kristalina Georgieva , while with a French woman taking over the ECB, the chances of the Governor of the Bank of France François Villeroy de Galhau appear less significant.

Elon Musk: Tesla Will ‘Most Likely’ Bring Self-Driving Chip Upgrade

July 09, 2019

That's about half-a-million cars. Elon has been touting the new chip at Tesla's Autonomy Investor Day earlier this year, a 260 square millimeter powerhouse with 6 billion transistors that should offer 21 times the performance compared to the Nvidia chips it's set to replace.

Bill Gates calls Steve Jobs a 'wizard' who saved Apple

July 09, 2019

Microsoft's founder says Jobs was also capable of "casting spells" on people because he was a wizard. Gates added that it's easy for leaders to "imitate the bad parts of Steve", who he also described could be an "a-hole" at times. In an indirect reference to Jobs and his rudeness, Gates pointed out that "no one ever said that when I went out to talk to the press or customers, that I was rude or abrupt or commanding".

British Airways faces $230 million GDPR fine

July 09, 2019

The Information Commissioner's Office ( ICO ), which is the UK's data watchdog, said in a statement that it would fine the airline under GDPR . Information Commissioner Elizabeth Denham said: "People's personal data is just that - personal".

Tesla to offer self-driving chip upgrade for older models

July 09, 2019

All vehicles made since around the end of 2016 are able to receive the self-driving chip, Musk said , and all Tesla vehicles produced in recent months already include it. For now, the Full Self-Driving package ordered by so many Tesla customers equipped their vehicle exclusively with a Navigate on Autopilot feature, which the automaker says lets the auto handle "on-ramp to off-ramp" highway driving, including self-directed lane changes and interchange navigation.

Dress up like a cow and get free Chick-fil-A

July 09, 2019

Chick-fil-A has more than 2,400 stores across the USA, so you have your pick of locations. Some examples: cow hat or mask, a T-shirt with black and white spots, jewelry with cow print. The giveaway plays off of the company's long standing joke that cows want people to eat more chicken. The celebration will start at the restaurant's opening and go until 7 p.m.

Ride-hailing set to hit the streets this fall in BC

July 09, 2019

Companies will be able to apply to enter the ride-hailing market as early as September 3, 2019. It makes decisions on applications relating to the licensing of taxis, limousines, shuttle vans, inter-city buses, and now, ride-hailing services in B.C.

Hiking minimum wage to $15 would boost millions, report says

July 09, 2019

Directly increasing the wages of 17 million workers who now earn less than $15 an hour - and indirectly bumping up the wages of 10 million workers right above them on the economic ladder - would have profound social benefits. The CBO said a $12 per hour minimum wage would have "smaller effects" on the USA economy and job market. High minimum wages and state support for unionization become sound policies not just in equity terms, but in macroeconomic ones.

Turkey's Erdogan clarifies decision on dismissing Central Bank chief

July 09, 2019

The Turkish lira against the US dollar ( TRY/USD ) slipped in early Monday trading after Turkish President Recep Tayyip Erdogan sacked the governor of the central bank and replaced him with his deputy. Trump at the time blamed the previous administration of Barack Obama for failing to finalize a deal for Turkey to buy the American Patriot system instead of the S-400.

Older Teslas could get self-driving-capable chip this year: Elon Musk

July 09, 2019

The hardware upgrade - which includes two of the chips for redundancy - will be powerful enough to allow for complete self-driving capability, if Musk is to be believed, though of course the software that allows for that sort of autonomy is still under development.

U.S. stocks retreat on shifting Fed expectations

July 09, 2019

The Stoxx Europe 600 Index declined 0.1%. Japan's Nikkei faltered 0.6 percent. "The strong jobs report is an indicator that they shouldn't lower rates". The euro EUR=EBS was marginally lower at $1.1215 after hitting $1.1208 EUR=EBS on Friday, which was the lowest since January 3. MSCI's gauge of emerging market equities.MSCIEF fell 1.3% as Asian shares closed lower and the dollar edged up in reaction to dampened expectations for a sharp Fed rate cut.

Amazon Warehouse Workers Plan To Strike During Prime Day Sales Event

July 09, 2019

Amazon worker strikes are common in Europe, where labor unions are generally stronger, with strikes regularly taking place on high profile shopping days such as Prime Day and Black Friday. What's Going On? Last year, Amazon pledged to pay workers at least $15 an hour, after activists called out the company for not paying liveable wages.

The Best Amazon Prime Day Deals

July 09, 2019

This year, Amazon Prime Day will begin on Monday, 15 July from 12am and run through Tuesday, 16 July . Amazon's Prime Days are only available to Prime subscription members. Speaking about the announcement, Amazon India Director and Head of Prime, Akshay Sahi said "We are proud to bring to customers a one-of-a-kind way to experience the exclusive product launches and entertainment we have lined up for Prime Day 2019 ".

VW, Ford near agreement to share EV platform

July 09, 2019

The Dearborn, Michigan-based U.S. automaker Ford Motor Co., and the Frankfurt-based German automaker Volkswagen AG had reached an agreement to share self-driving and electric vehicle technologies, remarking a landmark alliance between the No.

Oil rises on Iran's new nuclear threats

July 08, 2019

Brent for September settlement lost 1 cent to $64.22 a barrel the ICE Futures Europe Exchange. Oil prices steadied on Monday as tensions over Iran's nuclear program countered concerns about whether slowing global economic growth would hit oil demand.

CannTrust Nailed for Selling Unlicensed Product

July 08, 2019

The company violated federal regulations by allowing production to occur in five grow rooms in its 12-room facility between October 2018 and March 2019, CannTrust said in a statement, adding that licenses have been subsequently issued for those rooms.

Flybe purchase clearance for Virgin Atlantic-backed group

July 08, 2019

Announcing the European Union clearance on Friday (July 5), a statement by Connect Airways said the purchase will provide a'foundation to secure Flybe's long-term future'. Connect Airways will be taking full control, but Mark Anderson will be remaining as CEO of the new business. Connect Airways is a consortium, in which often cited Virgin Atlantic holds 30%, Stobart Air 30% and New York-based hedge fund management company Cyrus Capital Partners 40%, through its Luxembourgish ...

Electric Volkswagen smashes Goodwood record

July 08, 2019

The previous run looked easy, and the hillclimb-focused electric race vehicle was able to do it in 41.18 seconds. The Volkswagen ID.R race auto, which is already the fastest electric vehicle around the Nuerburgring circuit in Germany and quickest auto of any kind up the Pikes Peak climb in Colorado, added another record in southern England on Friday.

Telecom customers hit by widespread outages to voice services

July 08, 2019

Rogers says customers across Canada are suffering mobile phone outages including "dropped calls or are unable to place or receive calls on their mobile phone or wireless home phone service". For such calls, police were sent to the address as a precaution. "We are working diligently to restore services as soon as possible". They have since said that part of the outage has resolved, and 911 calls can be placed again as of Monday morning, Rogers confirmed.

Eye drops and other oilments recalled over sterility concerns

July 08, 2019

The Food and Drug Administration is recalling eye drops and ointment sold at Walmart and Walgreens. According to the FDA, Altaire is initiating the recall due to management concerns regarding the sufficiency of Quality Assurance controls over critical systems in the manufacturing facility.

S. Korean Travel to Japan Falls 5 pct from January to May

July 08, 2019

The ruling held that Japanese companies have to pay compensation to individual victims of forced labor during Japan's occupation of Korea. Seoul's response to the sanctions will no doubt come under discussion during those meetings. Samsung Electronics declined to provide Lee's specific schedule or itinerary. But this year, the number of Korean tourists to Japan is widely expected to turn lower amid growing tensions between Seoul and Tokyo over the latter's latest export limits on high-tech ...

Deutsche to slash 18,000 jobs over the next three years

July 08, 2019

The bank confirmed its intention to get out of the share business entirely, firing some 20 percent of its global workforce, as well as making major but undisclosed changes to its investment branch, referring to the employee bloodbath as a "restart ".

Gold prices are expected to trade lower today: Angel Commodities

July 08, 2019

Federal Reserve . S&P 500 futures edged lower and the 10-year Treasury yield were little changed above 2%, as traders reassessed the path of Federal Reserve rate cuts. China's Shanghai Composite fell 2.58 percent. The pan-European STOXX 600 index fell 0.05 percent at 390.02 points, while the FTSEurofirst 300 slumped 0.05 percent to 1,535.26 points.

Next-gen Jaguar XJ will feature fully electric powertrain

July 08, 2019

More specific details on the next-gen XJ haven't been confirmed, but Jaguar says it will carry through traditional characteristics from past generations, showcasing a attractive design, intelligent performance and revered luxury. A few European nations, including Germany and Sweden, are attempting to draw in gigafactories to make electric vehicle batteries, to give neighborhood supply to carmakers and to break the predominance of plants in China, South Korea, and Japan.