Economy / 16

$2.4 Billion: Binance Team Vows to Burn Entire 80 Million BNB Holding

July 14, 2019

One Binance Coin token can now be bought for about $31.60 or 0.00267941 BTC on major exchanges including Exrates, FCoin, DDEX and IDEX. The burn transaction can be seen here and in the image below. All BNB that the team will hold thereafter will either be earned through the exchange services or purchased with its own money. BNB jumped following the announcement and is up by more than 7% in the past 24 hours (06:07 UTC).

New Orleans braces as Hurricane Barry hits land nearby

July 14, 2019

The weather service said some gusts could reach up to 35 miles per hour this morning and through the afternoon, and a wind advisory is in effect along the coast. Streets and businesses were flooded along Lake Pontchartrain in Mandeville, just north of New Orleans , according to a Reuters witness. The barriers on the lower MS have been inspected daily since November when flooding became an issue.

Reckitt to pay $1.4bn to end opioid addiction treatment investigations

July 14, 2019

The settlement relates to a Department of Justice investigation which accused Indivior, the prescription pharmaceuticals business spun out of Reckitt in 2014, of illegally boosting prescriptions of Suboxone - its blockbuster opioid addiction treatment.

Thomas Cook turns to China's Fosun to save oldest travel firm

July 14, 2019

It follows recent reports that Fosun was eyeing up a deal which could lead to the complete break-up of the British travel firm, which is the world's oldest package holiday company. Today's news has sent Thomas Cook down below a critical support level, with the weekly chart highlighting the firm break through 9.2 to create a new record low.

IEA sees oil market oversupplied in 2019 on US production

July 13, 2019

The International Energy Agency (IEA) expects the return of an oversupplied oil market next year, despite the recent rollover of an OPEC-led pact created to restrain any glut. The forecasts appear to predict the need for producer club OPEC and its allies to reduce production to balance the market despite extending their existing pact, forecasting a fall in demand for OPEC crude to only 28 million barrels per day (bpd) in early 2020.

Boeing 737 MAX to remain off United Airlines' schedule until November 3

July 13, 2019

United had previously removed the Boeing 737 Max jet from its flight schedule through August 3, but this new batch of cancellations moves that deadline back to November 3. Preliminary reports highlighted the role of new flight-control software that pushed the planes' noses down. Boeing hopes to submit a fix to federal safety regulators in September.

Huawei calls on US to remove it from blacklist

July 13, 2019

The "unjust and unfair" decision to add Huawei Technologies Ltd., the biggest maker of network equipment for phone companies, to a list that restricts exports is hurting its USA suppliers and global customers, Liang Hua told a news conference.

China imports from U.S. plunge 31% in June amid tariff war

July 13, 2019

China saw its trade surplus widen by 41.6 percent year on year to 1.23 trillion yuan during the same period. Imports of US goods fell 31.4 percent from a year earlier to $9.4 billion, while exports to the American market declined 7.8 percent to $39.3 billion, customs data showed this morning.

Free or discounted fries Saturday for French Fry Day

July 13, 2019

Burger 21: Participating locations will offer Buffalo Ranch Fries. But what isn't settled is where to get the best french fries. The order has to come through the McDonald's app, and paid for with Apple Pay . Dates: The promotion applies on July 12, July 19 and July 26. Wienerschnitzel: Through July 28, get $1 off any regular or large Chili Cheese Fries.

FTC Approves Roughly $5B Fine for Facebook

July 13, 2019

The FTC opened its Facebook probe in March 2018, following reports that Cambridge Analytica had hoovered up the personal data of almost 90 million Facebook users to better target them with political ads during the 2016 presidential election.

Deutsche Bank's Sewing: "Putting My Money Where My Mouth Is"

July 13, 2019

However, the fact that its share price was up around the €40 mark less than 10 years ago shows the problems that have beset the bank in the decade since the financial crisis. "They give you this packet and you are out of the building", he said. Staff leaving in Hong Kong were holding envelopes with the bank's logo. Three employees took a picture of themselves beside a Deutsche Bank sign outside, hugged and then hailed a taxi.

Bombardier should maintain Thunder Bay plant amid Metrolinx talks: Fedeli

July 13, 2019

Bombardier Inc. (TSX:BBD.B) has announced that it is laying off half of the 1,100 workers at its Thunder Bay , Ontario railway auto plant. Bombardier Inc.is laying off 550 workers at its Thunder Bay , Ont. "And I think that's what the transit workers in Thunder Bay and all across Ontario - that's what they need to hear". The company's statement says it discussed the plant's "sustainable viability" with various government officials.

Japan firm says $32 million missing in cryptocurrency hack

July 12, 2019

According to a press release announced by Remix Point, Inc ., the parent company, the company is now investigating the cause of the spill and identify the total amount of the damages. Japan has been relatively open to cryptocurrencies, which use a technology called blockchain, despite some high-profile heists. "We will post information on our website from time to time", another update by Bitpoint Japan confirmed.

Microsoft says 13 million people are using Teams every day

July 12, 2019

According to the ETR report , Slack's net score for the second half of 2019 stands at 28 percent, a 45% decline compared with last year's second half. First, organizations can now send priority notifications to send out urgent messages. "Given your feedback, we have made the decision to roll back all planned changes related to internal use rights and competency timelines that were announced earlier this month".

Woman Orders ‘Moana’ Themed Birthday Cake, Gets Marijuana Design Instead

July 12, 2019

Walker, a mother of two, said once Davis' mother came to pick up the cake and explained it wasn't what she ordered, the store immediately apologized and offered to make a new cake. Dairy Queen co-owner Al Autry acknowledged the mix-up in a statement to USA Today but did not confirm or deny Walker's termination. She says the first one was so good - and hilarious - she didn't take them up on it.

Here's why Fareham MP Suella Braverman voted against the abortion amendment law

July 12, 2019

She has responded by saying that her vote isn't in protest of abortion laws, but because she believes it is something that should be dealt with by the Northern Ireland Assembly. "The grave harm and suffering under Northern Ireland's abortion regime are finally coming to an end". Nigel Dodds, the DUP's leader in Westminster, said the vote would drive "a coach and horses through the principle of devolution".

Bitcoin Unaffected as Markets Shrug Off Trump's Critical Tweets

July 12, 2019

Furthermore, President Trump said " Facebook Libra's "virtual currency" will have little standing or dependability ", and that "if Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks".

Ford, Volkswagen join forces on the new frontier of electric autos

July 12, 2019

The company is working to turn the page three years after it was rocked by revelations it had installed emissions-cheating technology on millions of diesel vehicles sold worldwide. Suppliers familiar with Ford's plans say the No. 2 US automaker is developing a broader portfolio of electric vehicles , a lot of them crossovers that will carry the Ford and Lincoln brands, for North America and China.

Oil Futures Settle Lower After OPEC Lowers Demand Forecast

July 12, 2019

Oil traded shut to a seven-week excessive as provide dangers from a storm in the Gulf of Mexico and falling USA stockpiles had been countered by a passe market outlook from OPEC in 2020. The latter , including Norway and Brazil, will increase production to 2.4 million barrels per day. Keeping a lid on prices are two independent reports calling for lower demand.

Gold prices zoom to ₹930 on firm global cues

July 12, 2019

As a result, the United States dollar index, a gauge of the greenback against a basket of other major currencies, fell 0.4 per cent to 97.10 shortly before the settlement of gold futures. "Once we get a quarter-point rate cut, which markets are widely expecting, Powell will keep all options open on the table, and that means the dollar's outlook is uncertain", said Manuel Oliveri, an FX strategist at Credit Agricole in London.

Producer price index - What to know in markets Friday

July 12, 2019

Meanwhile, used vehicle prices spiked 1.6 percent and an uptick in medical care costs also helped lift the index, according to the data. There was a 2.4 per cent rise in the food sector, and a 2.3 per cent increase in the health and personal care sector.

Stocks Jump To Record Highs, Fed Chief Still Has "Uncertainties"

July 12, 2019

Following Mr Powell's comments, the dollar fell against a basket of currencies and the major share indexes opened higher. The comments sparked much-needed relief on trading floors around the world, having suffered steep losses at the start of the week in reaction to a blockbuster United States jobs report that dented hopes for a steep Fed cut at its next policy meeting.

Bank of England Governor Carney sidesteps question on International Monetary Fund role

July 12, 2019

Other names in the mix include Bank of France governor Francois Villeroy de Galhau, EU finance commissioner Pierre Moscovici of France, and former British finance minister George Osborne. The Bank of England's Financial Policy Committee (FPC), said it would team up with Britain's Financial Conduct Authority to assess whether investment funds should be required to set lengthier withdrawal periods for investors if they hold hard-to-sell assets such as commercial property.

Fed's Powell affirms rate cut view; others see USA economy humming

July 12, 2019

At its June 18-19 meeting, many policymakers expressed the view that stimulus would be needed soon, according to the minutes from that meeting released on Wednesday. Earlier rounds of USA tariffs on trading partners including China had been dismissed as of little macroeconomic importance, with the Fed in early May still anticipating its policy rate would remain unchanged in a range of 2.25 per cent to 2.50 per cent for the rest of the year.

Charming Charlie closing all of its stores

July 12, 2019

Amid reports that fashion retailer Charming Charlie has filed for Chapter 11 bankruptcy protection, 23ABC has learned that the location in the Market Place is set to close next month. Say goodbye to another mall store. In the filing, the company cited facing "significant headwinds given the continued decline of the brick-and-mortar retail industry".

Ocasio-Cortez receives acclaim from top Trump adviser for her economic perspective

July 12, 2019

He later deleted the post . In an interview with " The New Yorker Radio Hour ", Ocasio-Cortez repeated her call for the abolition of ICE-Immigration and Customs Enforcement. She could be with her grandkids, she could be with her family, and I don't like her, I don't agree with her politics, but she's still serving her country.

Trump accuses China of foot-dragging on farm purchases

July 12, 2019

He said that Beijing is causing a disappointment. The United States and China are sparring over the Trump administration's allegations that Beijing is using predatory tactics - including stealing sensitive technology and forcing US firms to hand over trade secrets - to try to supplant American technological supremacy.

Investors Eyeing Powell, US Consumer Inflation Data

July 12, 2019

That's to say that markets feel that if Fed rate cuts are coming, they're going to come quickly over the next several months, a direct response to the growing threat of the US-China trade war. Clothing prices rose 1.1 percent. The rate decrease should show up within 30 to 60 days. The S&P 500 index rose 0.5% to 2,993.07. By contrast, the nine rate increases since late 2015 have lifted the same payment by $56.

Amazon says it is investing over $700M to upskill 100,000 employees

July 11, 2019

The big picture: Amazon is making a financial commitment to prepare its US employees for a near future where everything in their workflow will be deeply disrupted by automation. Providing an avenue for low-skilled workers to advance within the company, or outside of it, could reshape the narrative for Amazon. The company said in October that it would raise its minimum wage to $15 per hour for USA employees.

Multiple people injured after Air Canada emergency landing in Honolulu

July 11, 2019

The flight AC33 experienced heavy turbulence on Thursday and was forced to turn back, requesting an emergency landing at Honolulu airport. The pilot managed to land the plane at 6:50 AM Hawaiian time. All passengers that were injured during the turbulence and subsequent emergency landing are receiving medical treatment in Hawaii. "But as a whole people seem to be OK, didn't seem to be any major injuries".

Bulk Pig Ears For Animals Might Contain Salmonella

July 11, 2019

The CDC considers this to be a rather grim number, and it notes that the typical hospitalization rate for Salmonella is around 20 percent, suggesting that this is a particularly serious situation. As for what the CDC recommends going forward, it goes without saying that you should avoid Cavi brand papayas at all cost, even if some of them have been eaten without issue.

Australian banks, shops hit by telecom outage

July 11, 2019

According to the ABC , the issue relates to a payment processing network operated by Telstra , which has impacted all banks in some way. An outage affecting Telstra's enterprise data services has knocked out access to EFTPOS and ATMs in some areas.

Trump's order aims to revamp kidney care

July 11, 2019

President Trump said his administration is taking groundbreaking action to bring new hope to the millions of Americans suffering from kidney disease. "I've spoken to people (on dialysis)". Their members have worked to remove barriers to accessing home dialysis, which include establishing the Kidney Disease Education program through which clinicians can promote modality choices, aligning of home and in-center payment rates to eliminate disincentives for providing home dialysis, and promoting ...

AT&T Will Automatically Block 'Robocalls' for New Customers

July 11, 2019

New AT&T customers will have the service initiated by default and can opt out. New AT&T Mobility consumer lines will come with the anti-robocall service. Spam calls can not only be irritating, but often they are illegal scams. Notice that the AT&T announcement promised " automatic fraud blocking and suspected spam-call alerts" but not automatic blocking of spam calls.

Celebrate 7/11 Day with a FREE Slurpee from 7-Eleven today

July 11, 2019

The deal will include the featured Blueberry Lemonade flavor, as well as the sugar-free Cherry Limeade Lite flavor. Hot pizza slices and fresh-baked cherry Slurpee drink-flavored cookies will be just $1. Free Slurpees, which were first introduced in 1966, have been offered annually on July 11 since 2002, when the store celebrated its 75th birthday. If one free Slurpee wasn't enough, 7-Eleven is giving out even more free slushies to their 7Rewards members (joining the program is free).

Cantrust: non-compliant with Canada cannabis regulations

July 11, 2019

In a new development, CannTrust Holdings has had a setback today as it emerged that an audit by Health Canada on its Pelham facility in Ontario found that the company was in violation of a set of regulations. He added that by July 17 CannTrust will provide a written response to Health Canada, including an explanation, mitigating factors and changes the company has made.

Bentley celebrates 100th birthday with this massive EXP 100 GT Concept

July 11, 2019

Where the EXP 100 GT really takes a step into the future in terms of enriching the onboard experience is via the Bentley Personal Assistant AI, represented by an illuminated hand-cut crystal sourced from Cumbria, England, and relying on a series of hand-gesture sensors as an interface.

U.S. 'concern' over French plan to tax tech giants

July 11, 2019

On Wednesday US Trade Representative Robert Lighthizer announced a "Section 301 investigation" into France's digital services tax, a proposed 3pc revenue levy on companies such as Facebook and Google that provide digital services to French users.

How to Watch Today's Amazon Prime Day Concert with Taylor Swift

July 11, 2019

Amazon used the occasion to provide peeks of upcoming original series, including Carnival Row and Modern Love . Prime subscriptions get you a plethora of benefits including free and fast shipping, exclusive deals and discounts, ad-free streaming and download music service with Amazon Prime Music, and access to a full library of new and popular movies and TV shows with Amazon Prime Video.

Britain's GDP rises by 0.3 pct in May

July 11, 2019

But barring a miracle from June data, the United Kingdom economy is likely to have contracted in Q2 for the first time in seven years. A Mini electric vehicle rolls down the production line at the BMW plant in Cowley, near Oxford. Last month, the BoE said that it expected economic growth to flatline during in the second quarter (Q2) of the year, after the United Kingdom recorded 0.5% growth in the previous quarter.

Starbucks Pours New Tie-Dye Frappuccino

July 11, 2019

Shares climbed more than 1% to a record high on the release of the colorful beverage. Here's what the Starbucks Tie-Dye Frappuccino tastes like. "It's summer in a cup and something everyone can relate to; it takes you back to sunny warm days of summer spent at camp or with friends and family".

New Zealand proposes subsidies for clean cars

July 11, 2019

Vehicles with middling fuel efficiency would face neither a discount nor a fee. But not all vehicles would be emissions-free as Mr Hipkins said the government was waiting for more options to come on the market. Emissions targets would be phased in gradually. The age of New Zealand's vehicle fleet, looser emission standards, and the number of higher-emitting utes and SUVs mean the average motorist spends 65 percent more on fuel here than in the European Union.

Last Volkswagen Beetle drives into the sunset

July 11, 2019

The freed-up factory space in Mexico will be used to produce a new compact SUV intended for the North American market, the company said in a news release. In 1998, the New Beetle-an early automotive adopter of "modern retro" design language-re-introduced the familiar silhouette to a new generation of drivers, and sold more than 1.2 million cars between 1998 and 2010.

Flowers Foods recalls potentially defective buns - Newswatch

July 11, 2019

There have been no reports of injuries or illnesses associated with the buns. Head there to check the UPC codes and see whether you have one of the recalled products. They were sold at stores including Aldi, Dollar General, Sam's Club, Target, and Walmart. BNP Paribas Arbitrage SA raised its stake in Flowers Foods by 22.3% in the 1st quarter.

Fed chairman hints at first interest rate cut in over a decade

July 11, 2019

The Dow exploded higher after Jerome Powell hinted at an impending interest rate cut. President Trump has lambasted Powell - whom he appointed as Fed chair in late 2017 - for rate hikes, arguing that they've slowed economic and stock market gains.

Toyota to build new SUV, not Corolla, at Alabama plant

July 11, 2019

A statement says the change of plans for the Alabama factory is because of a changing market and increasing demand for light trucks and SUVs. Toyota said Wednesday, July 10, 2019, that it will scrap plans to build the Corolla compact vehicle at a new factory under construction in Alabama.

IndiGo promoter feud out in the open

July 11, 2019

IndiGo Chief Executive Officer Ronojoy Dutta on Wednesday assured the company's staff about the airline's viability, a day after a public altercation between the company's promoters, PTI reported. Gangwal and his affiliates have around 37 per cent stake in IGAL while Bhatia and his affiliates (IGE Group) have about 38 per cent. InterGlobe Enterprises, which has interests in aviation, hospitality and travel-related services and is controlled by Bhatia, has two group entities namely, The IGE ...

Asia shares cautious in case Powell closes rate door

July 11, 2019

South Korea climbed 0.6 percent, but Japan's Nikkei lagged with a loss of 0.15 percent. The Japanese yen traded at 108.95 against the USA dollar after seeing levels below 108.5 earlier in the week In Hong Kong, the Hang Seng index recovered 88.41 points, or 0.3%, to 28,204.69.

CBO: $15 Minimum Wage Would Kill Millions of Jobs

July 10, 2019

However, says CBO, it will also trigger a median 1.3 million workers to lose their jobs as employers can not afford the wage - that's a 0.8% reduction of the variety of employed workers. "Every time a minimum wage increase has been proposed, the extreme right wing and their billionaire campaign contributors claim that jobs will be destroyed".

Gulf Coast residents should keep an eye on potential storm

July 10, 2019

Highs in the upper 80s to low 90s inland, mid to upper 80s along the beaches. Oil producers in the US part of the Gulf of Mexico have begun evacuating employees from their platforms ahead of a possible storm that is for now a tropical depression, Reuters reports , adding the storm could develop by this evening or tomorrow.

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