Economy / 55

Trump Ratchets Up Pressure for Fed Rate Cut

July 30, 2019

The US President took aim at the Fed in a series of tweets, the Efe news reported. The Fed has generally raised rates when the economy is booming. In a Monday morning tweet, President Donald Trump blasted the Federal Reserve for not lowering interest rates in fashion with the European Union and China and predicted that the central bank "probably will do very little by comparison" to stimulate US economic growth.

Equifax'17 Data Breach, settlement $650 Mn

July 30, 2019

If you don't do anything, you relinquish your right to sue Equifax in the future, and you give up on the $125 or 10 years of free credit monitoring provided by the settlement . Individuals who have been harmed within the cybertheft may also claim as much as $20,000 in cash reimbursement for expenses associated with the breach.

US Woman Boasted Of Massive Credit Card Data Theft Online, Arrested

July 30, 2019

Last week it was announced that Equifax, the credit-reporting company, will pay up to a record $650 million to settle US federal and state probes into a massive 2017 data breach of personal information. The Department of Justice said Monday that Paige Thompson, 33, was arrested in connection with the breach. The complaint says Thompson boasted in Twitter direct message about having obtained the data, saying she had "basically strapped myself with a bomb vest, [expletive] dropping ...

CCD owner leaves distressing letter for board

July 30, 2019

An extensive search is on for the 60-year-old businessman who was last seen in Mangaluru. Siddhartha, who began his career as an investment banker, had sleepless nights when Starbucks entered India, according to an article he wrote for the Outlook magazine in 2016.

Barclays, JPM, others face United Kingdom class action over currency-rigging

July 30, 2019

The top investment banks are going through a relatively tough time right now. Thousands of pensioners and business customers of the world's biggest banks have launched a class action lawsuit against five institutions claiming they lost collectively almost £1 billion following the uncovering of a major foreign exchange manipulation cartel.

Details of Corvette Stingray 2020 Will Soon Be Here

July 30, 2019

The design chief at GM, Michael Simcoe, alluded that the brand-new C8 is almost sold out for the 2020 year at the Concours d'Elegance of America. Production of the 2020 Chevrolet Corvette Stingray will begin later this year. The company has also not disclosed how many C8's it plans to build in the first year of production, which is typically a number automakers do not disclose.

The Only Explanation for This Tron Dumpster Fire — Sun’s Law

July 30, 2019

The TRON founder claims that he has kidney stones and can not attend. "Parties to reschedule at a later date". Sun won a charity auction after paying more than $4.5 billion to have lunch with billionaire investor Warren Buffet, which was scheduled for July 25.

Capital One reveals 100M affected by data breach, hacker arrested

July 30, 2019

About 1 million social insurance numbers of the company's Canadian credit card customers were also compromised. "According to Capital One, the data includes data regarding large numbers of applications, likely tens of millions of applications", according to a complaint filed in federal court in Seattle.

USA soybean exports to China rise, but big purchases remain elusive

July 30, 2019

Chinese experts said Mr Trump's move was unlikely to amount to much, as attempts to scrap special treatment rules for developing countries would face widespread objection at the WTO . "Face-to-face trade talks will restart on Tuesday and it is hoped the goodwill will be reciprocated by the U.S. side". Before the trade war, China was the No.

Boris Johnson wants renewal of 'ties that bind UK'

July 30, 2019

Boris Johnson is due to make his first visit to Scotland as prime minister and has called for a renewal of "the ties that bind our United Kingdom ". The Prime Minister rejected an assertion from his no-deal planning chief Michael Gove that the Government's assumption was now that Brussels would not give ground on the terms of a deal.

Takeaway confirms takeover talks with Britain's Just Eat

July 30, 2019

Both companies said in a statement that they had "reached an agreement in principle" on the key terms of the potential deal, which would create one of the largest food delivery giants in the world. Peter Duffy, the interim chief executive, said four million new customers joined the business past year. The combined group had 360m orders worth €7.3bn (£6.6bn) in 2018 and strong positions in the UK, Germany, the Netherlands and Canada.

Pfizer to absorb Mylan Pharmaceuticals

July 29, 2019

Pfizer , the country's largest drugmaker, is creating a hybrid new drug company by combining its off-patent branded drug business with the generic pharmaceutical company Mylan . Pfizer is up 12 per cent in the same period and is worth $240 billion. Meanwhile, Pfizer reported second-quarter net income of $5.05 billion, or 89 cents per share, up from $3.87 billion, or 65 cents per share, a year earlier.

Tesla to Soon Get Netflix, YouTube Streaming Support: Elon Musk

July 29, 2019

However, once Full Self Driving is fully approved by regulators, Musk says Tesla will enable streaming while driving, meaning you can to tune out of the traffic and get your daily update of whatever instead. Musk talked about Tesla's gaming and entertainment plans in June during the annual video games industry trade show, E3. He also went on to add that it has an "amazingly immersive, cinematic feel due to the comfy seats & surround sound audio".

PSA threatens to shut down United Kingdom plant over Brexit

July 29, 2019

He added: "We have an alternative to Ellesmere Port ". Auto workers union Unite has responded to the latest PSA comments, saying its members would fight "tooth and nail" to safeguard Vauxhall's Ellesmere Port plant and urging Boris Johnson's government to take a no deal Brexit off the table.

The Audi A1 citycarver -A young, urban type

July 29, 2019

Technically, the 4.50 meters long, the Audi Q3 Sportback is nothing else than the successful launch of the Q3, which is produced in Györ, Hungary. Nine colours are available for the citycarver, with black or grey two-tone colours available for the roof, complementing the black cladding around the bottom of the vehicle.

Sydney expands contactless payments to buses

July 29, 2019

Transport for NSW expects to have the tech active in the whole bus network by the end of September. After rolling out card payments on light rail and ferries back in March previous year, and on trains in November , Transport for NSW has announced that contactless card payments - and devices that have the service enabled - will be rolled out across all Sydney buses from August.

UK flights getting back to normal after air traffic control problems

July 29, 2019

It came after Heathrow and Gatwick had already endured a day of flight cancellations and delays due to storms following this week's heatwave. Great Northern, Thameslink, East Midland Trains and West Midlands Trains warned of fewer carriages on some services, cancellations and disruption due to high temperatures.

Just-Eat to team up with delivery rival in €9bn merger

July 29, 2019

Shares in Just Eat jumped more than a fifth to 776.8p on Monday morning, significantly higher than the valuation implied by the terms of the merger. The all-share deal would see the Amsterdam-based Takeaway.com acquire Just Eat for 731p a share, a 15% premium on Friday's closing price - creating a company with roughly 360m global takeaway orders, worth almost £7bn.

Buffalo Wild Wings offering free wings for National Chicken Wing Day

July 29, 2019

You can also bag yourself some National Chicken Wing merchandise if your love for the wings goes beyond the ties that bind. The period from the Fourth of July until Labor Day is one America's longest holiday dead zones - that is, assuming you like your holidays dictated by the federal government.

Mobile's $26.5B Sprint deal OK'd despite competition fears

July 29, 2019

Softbank Group Corp. said Saturday the merger of T-Mobile US Inc. and Sprint Corp., the third and fourth largest mobile carriers in the USA, is now expected to be completed by the end of this year. His comments came after proposed merger was OK'd by the Justice Department with the requirement that the new company sell wireless assets to Dish Network , on the theory that this would establish a brand-new competitor in the market.

Ryanair profits hit by tough competition and Brexit uncertainty

July 29, 2019

The airline reported a revenue after tax of 243 million euros ($270.36 million) for the three months to June 30, down from 309 million a year earlier. Elsewhere, Ryanair reiterated its confidence that the Boeing 737-Max aircraft, the first of which it expects to take delivery of next January at the earliest, will "transform" its business.

Sports Direct still finalising results, next update 1300 GMT

July 29, 2019

Chief executive Mike Ashley used the results announcement to warn that the financial issues facing House of Fraser were "terminal". But the day was dominated by speculation over when the results would be published. "It not only raises questions about the haphazard way in which the investor relations and finance teams are run, but also could suggest a material problem with the numbers".

China: FedEx accused of rerouting packages on objective

July 29, 2019

China has hit back by announcing it would create its own blacklist of "unreliable" companies and individuals, which could target USA and global firms that have cut off supplies to Huawei. Huawei told Reuters that it has retrieved some 400 million yuan of goods last month after negotiations and is still trying to take back the rest.

Privacy group challenges $5B Facebook settlement

July 29, 2019

He added that the FTC's settlement with Facebook cited the company for provable violations. The FTC commissioners voted to approve the consent order this month in a 3-2 decision. The Cambridge Analytica scandal changed a lot of things for Facebook. Facebook is certainly no stranger to record breaking figures, but this week the company achieved one in the worst possible way.

Woman's birthday delivery from Amazon is not what it seems

July 29, 2019

Ditching cliched gift items like bags and tiffany boxes, a man made a decision to give something unique to his wife - who loves online shopping - on her birthday. Yum! "I just laughed. It was super amusing because he makes fun of me for all the Amazon boxes we get", McGuire said. "I need this", wrote one woman .

New York Times dives deep into Les Wexner, Jeffrey Epstein's odd relationship

July 28, 2019

In light of fresh charges being brought against Epstein - who is in custody in NY for alleged sex trafficking - L Brands are examining the extent of his influence in the company. Two former executives of the company told the Times that they learned that Epstein was attempting to get involved in recruiting lingerie models for Victoria's Secret in the 1990s.

Apple credit card launch in the first half of next month

July 28, 2019

Now that Apple added support for Apple Card in the latest iOS 12 .4 update, we can expect the card to be made available very soon. While Apple will ship physical credit cards to those who are approved for an Apple Card, the company's intention is that most transactions will happen through Apple Pay, with the card itself being managed through Apple Wallet.

Trump Loses It On Fox News Over Latest 2020 Poll

July 28, 2019

The Quinnipiac University poll finds Biden leading the president in a hypothetical match-up 50-42 percent in OH, a critical swing state that Trump won in the 2016 presidential election. Trump is attacking Fox News! Despite his criticism, there are many examples of Trump praising Fox News polls - when they look good for him. The Twitter account of Joe Biden's campaign staff taunted Trump in a tweet Friday morning .

Inquiry calls for Australian crackdown on global technology giants

July 28, 2019

The commission studied both companies for 18 months before handing over its report to the government, concluding that the law allows firms to collect and use personal data without informed consent and in ways users do not understand. "We're closely reviewing these recommendations to ensure they don't bring unintended consequences to all digital businesses and the choice of digital products available to Australian consumers", Digital Industry Group (DIGI) managing director Sunita Bose said in a ...

FDA sends warning letter in crackdown on CBD claims

July 28, 2019

Earlier this year the FDA held a public hearing and received almost public 4,500 comments. Currently, the FDA says it is exploring regulatory approaches regarding these products and plans to report on their progress by early fall. In a statement, the FDA emphasized its concern over the proliferation of these supplements that are often marketed for therapeutic or medical uses but are not subject to FDA approval the way drugs are.

Central Bank of Turkey cuts key interest rate to 19.75 pct

July 28, 2019

Inflation has since dropped https://tmsnrt.rs/32KbNrP below 16%, which left Turkey with the highest real interest rate of all emerging markets. Cetinkaya was replaced by Murat Uysal, the deputy governor. Lower borrowing costs could help lift Turkey's economy out of recession, reduce its 13 percent unemployment rate, and bring relief to borrowers whose real interest rates, when adjusted for inflation, were roughly halved to four percent on Thursday.

Reduced train timetable across Sussex as tracks could buckle in extreme heat

July 28, 2019

Southern said high track temperatures "may cause delays and cancellations" to journeys across the whole Gatwick Express, Great Northern, Southern and Thameslink networks until the end of the day. As a precaution, trains have to run at slower speeds. Online journey planners have been updated with details of which trains will be running and if you're planning to travel on Thursday 25 July, please allow extra time for your journey and check before you travel to make sure your train is running.

Taco seasonings recalled nationwide over salmonella concerns

July 28, 2019

The company says these seasonings contain a cumin spice that was involved in a salmonella recall issued by Mincing Spice Co. One of the supplier's customers had tested a sample and found it to be "potentially contaminated with Salmonella ", according to a news release .

SoftBank sets up $108B investment fund for the possible future of AI

July 28, 2019

SoftBank said the second fund is expected to collect money from Apple Inc., Microsoft Corp., Foxconn Technology Group and the sovereign wealth fund of Kazakhstan. Saudi Arabia was the biggest investor with its $45 billion contribution, followed by SoftBank's $28 billion and $15 billion from Mubadala. It said Daiwa Securities Group Inc , Dai-ichi Life Holdings Inc and Sumitomo Mitsui Trust Holdings Inc have also signed memoranda of understanding (MOU).

Equifax might owe you $125 || Here's how to check

July 28, 2019

If your expenses were affected due to the exposure of your personal information and you spent time trying to recover your assets, you may be awarded up to $20,000. If the initial $ 300 million is exhausted, Equifax will pay up to an additional $125 million into the fund to cover remaining claims. "Consumers should start filing claims as soon as they start being accepted", says Chi Chi Wu, National Consumer Law Center staff attorney.

U.S. and United Kingdom working on 'very substantial' trade deal

July 28, 2019

Irish Foreign Minister Simon Coveney attends the funeral service for murdered journalist Lyra McKee in Belfast, Northern Ireland , April 24, 2019. Asked how they would feel if Mr Johnson married their daughter, 57% said they would be sad, while 16% said they would be happy.

Japan likely to tighten SKorean export curbs in late Aug | AP business

July 27, 2019

Commerce Secretary, agreed on the severity of the fallout, and that he hinted Washington could play a role in the situation if necessary. As a step to further tighten export controls, Japan will decide next Friday to remove South Korea from a list of countries allowed under preferential arrangements to buy products that can be diverted for military use, sources familiar with the plan said Friday.

Rate decision launched a Euro Cardiogram

July 27, 2019

The recent agreement to extend the US debt ceiling, the resumption of US-China trade talks, and firmer US data flow have eased downside risks for the US dollar. Markets are now coalescing around an assumption that a rate cut of 0.25% is on the cards, although it is still not certain, and the Fed may well choose to make a 50 basis point, or 0.5%, cut instead.

Are Facebook users any better off?

July 27, 2019

The official reasoning behind the fine is that Facebook failed to comply with an FTC order issued back in 2012 that talked about the protection of user data and the like. Yale Privacy Lab researcher Sean O'Brien said FTC's limited penalties will enable Facebook to publicly say it is changing course while maintaining an illusion of privacy.

Tesla plunges on quarterly loss, backtrack from profit forecast

July 27, 2019

This was below analysts' consensus forecast for revenue of $6.41 billion. Both figures came in below Wall Street's expectations. A 58.7% revenue rise to $6.35 billion in the quarter fell short of the $6.41 billion estimated by analysts, according to IBES data from Refinitiv, even as a non-GAAP loss of $1.12 per share was deeper than the loss of 36 cents they expected.

Tesla posts $408M loss in 2Q, causing stock to plummet

July 27, 2019

Barclays analyst Brian Johnson lowered his quarterly loss estimates for the company last week, noting the strong sales, but said the numbers showed " Tesla prioritizes delivery volume above margins". "We remain focused on worldwide expansion, because local production is essential to being cost-competitive", Musk said on the call. Combined with a public offering of equity and convertible bonds worth $2.4 billion, the automaker is now sitting on $5.0 billion of cash and cash equivalents as it ...

Video shows toddler being swept away on airport conveyor belt

July 27, 2019

Airport CCTV cameras captured the moment an inquisitive toddler clambered aboard a moving baggage carousel and was swept through machines and into the heart of Atlanta International Airport . "When I tried to go after him, it was the end of the machine". " I'm thankful he's alive ", Vega told WSB-TV. Atlanta police said emergency medical services treated the boy for a "severely swollen and bruised" right hand before he was transported to a hospital for additional treatment.

Ford to Launch an Electric F150 Pickup Truck

July 27, 2019

As expected, the electric F-150 was able to pull the fully loaded train cars with little drama. The Ford F-150 isn't just the best-selling pickup truck in America, it's the best-selling vehicle full stop. The new vehicle won't affect the electric F-150 and Mustang-inspired crossover, though. However, it should be noted that Ford invested $500 million in the EV company quite recently, thus making this competition a kind of friendly competition.

UK PM Johnson tells Germany's Merkel: The backstop has to go

July 27, 2019

Ireland says any checks or border infrastructure could undermine the 1998 peace deal that ended a three-decade conflict in Northern Ireland between pro-British unionists and Irish nationalists in which more than 3,600 people died. Merkel's office said Johnson had accepted an invitation from the 65-year-old German Chancellor for "an early visit" to Berlin. The president of the European Commission Jean-Claude Juncker told Johnson on Thursday that EU officials have no mandate to renegotiate ...

Gold prices consolidate above key support of 20-DMA

July 27, 2019

August gold added $4.60, or 0.3%, to $1,419.30 an ounce although has printed a weekly loss of 0.5% based on last Friday's settlement which snapped a string of two consecutive weekly gains. EDT (1743 GMT), having earlier touched $1,410.77 - lowest since July 17. Market participants are now looking ahead to the US central bank's July 30-31 monetary policy meeting where it is expected to trim its interest rate by at least 25 basis points.

North Korea missile launches a 'solemn warning' - state media

July 27, 2019

Mr Kim's comments, reported in state media, come after the North criticised a decision by South Korea and the U.S. to hold military drills next month. The launches were the first known weapons tests by North Korea since it fired three missiles into the sea in early May that many outside experts said strongly resembled the Iskander.

Southwest will soon stop flying in and out of Newark airport

July 27, 2019

American, the No. 1 USA airline, said it expected the grounding to hit its 2019 pre-tax earnings by about $400 million, about $50 million more than it had previously forecast. The company said it would issue a new 2019 outlook at a future date, as the current forecast, which was suspended in April following the two deadly crashes, does not reflect the recent charges.

U.S. economy slowed to 2.1% growth rate in 2nd quarter

July 27, 2019

PCE rose 4.3% in the quarter, ahead of the 1.1% pace in the first three months of the year, while government consumption expenditures and gross investment climbed 5%, up from 2.9% in the first quarter. Federal Reserve in particular for actions he sees as stymieing his growth agenda. The full report from the Commerce Department is online here. A stronger dollar and new tariffs are also making it less desirable to do business with the US.

Trump Blasts Macron's 'Foolishness', Threatens 'Reciprocal Action' Against France Over Digital Tax

July 27, 2019

Macron this week signed the digital services tax, a 3 percent tax that targets companies worth at least 750 million euros ($ 834 million ) globally and 25 million euros in France. Earlier this month , the United States threatened tariffs on another $4 billion worth of additional European Union goods, including wine, cheese and whiskey - that could be hit with tariffs as part of a almost 15-year dispute at the World Trade Organization over aircraft subsidies given to us planemaker Boeing Co and ...

Trump refuses to shield Apple's Mac Pros from China tariffs

July 27, 2019

Apple had requested that the Trump administration exclude parts for its new Mac Pro from import tariffs . Apple recently shifted production of the Mac Pro to China from Texas, according to The Wall Street Journal and Bloomberg. The new Mac Pro is slated for release this fall with an entry-level price of $5,999. President Trump is known for wanting companies to employ and manufacture products in the United States, as that would help get and keep more people employed.

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