Economy / 42

Crypto Market Continues to Show Green Candlesticks, BTC Recovers to $8,200

October 08, 2019

Bitcoin started the trading day at around the $8,000 price level and has been slowly crawling upward to its current price point of $8,234, showing a gain of 5.35% in the last 24 hours. Ether seven-day price chart. After major cryptocurrency payment processor BitPay had partnered with Ripple's investment arm Xpring to support payments with XRP on October 2, XRP has seen a sharp growth today - up over 9% over the past 24 hours.

Kroger to discontinue sale of e-cigarettes

October 08, 2019

An updated sales policy from Dillons' parent company says they will stop selling e-cigarettes at all store and fuel center locations once the current inventory has been sold. Walgreens, based in Deerfield, Illinois, operates more than 9,500 stores in the U.S. "Given the growing federal, state and local regulatory complexity and uncertainty regarding e-cigarettes, we plan to discontinue the sale of electronic nicotine delivery products at all Walmart and Sam's Club US locations", Walmart ...

Unilever to halve use of new plastic

October 08, 2019

Unilever has promised that by 2025 it will halve the amount of virgin plastic - plastic that has not previously been used or processed - by reducing its total use of plastic packaging by more than 100,000 tonnes and accelerating its use of recycled plastic .

Trump economic adviser says delisting Chinese companies is off the table

October 07, 2019

Topics of discussion will include forced technology transfer, intellectual property rights, services, non-tariff barriers, agriculture and enforcement, the White House Press Secretary said in a statement. But he also said Chinese officials are dragging their feet in hopes of continuing negotiations with another administration should Trump fail to win reelection in 2020.

Guelph to take to the streets for CIBC Run for the Cure

October 07, 2019

I'm going through it right now. Kolwich, a development officer with the Canadian Cancer Society, was one of the organizers of the Canadian Cancer Society CIBC Run for the Cure on Sunday morning, starting and ending at Exhibition Park. "I think it's a testament to the culture in Calgary where volunteerism is really important". Based on those numbers alone, McGowan said it's fair to assume nearly everyone has a connection to the cause.

Union says talks with GM have ‘taken a turn for the worse’

October 07, 2019

Re-opening the two plants has been a significant goal for UAW since the strike began. GM has offered to build its electric trucks in a plant that straddles the line between Detroit and the town of Hamtramck, which is scheduled to be idle in January when the sedans it builds go away.

Audrain Concours coup: Aston Martin debuts Centenary auto

October 07, 2019

Meanwhile, the other vehicle - the DB4 GT Zagato Continuation - is a track-only auto which pays homage to the original DB4 Zagato. The company Aston Martin presented a unique DBS Zagato GT, which will become part of a collection of 19 cars, the centennial of the Italian bodywork Studio.

HSBC reported to plan 10,000 job cuts globally

October 07, 2019

Quinn, who replaced Flint in August, has been told that he is the front runner to take the top spot permanently, the FT said. Chief Financial Officer Ewen Stevenson said in August that the bank's returns from Europe were "unacceptable", while in the U.S., the bank said it would miss the return target it had set for next year.

Pizza Express lining up for painful debt restructuring

October 07, 2019

The chain is preparing for talks with creditors over its huge debt - which totalled £1.12 billion according to its latest company accounts. The group's most recent accounts show the chain's total debt was £1.12 billion at the end of a year ago - working out at £1.79 million a restaurant.

GE freezes pensions for 20K, trimming up to $6B in debt

October 07, 2019

The effort comes as GE CEO Larry Culp works to bring the company back from a decline in its power-equipment business, address cash flow concerns, and control mounting debt. "Returning GE to a position of strength has required us to make several hard decisions, and today's decision to freeze the pension is no exception", Chief Human Resources Officer Kevin Cox said.

Delta: Woman without ticket boards plane at Florida airport

October 07, 2019

In a statement to ABC News , a Delta spokeswoman confirmed the incident on flight 1516 and said the airline apologized to passengers for the delay. "Delta representatives asked a female passenger who was sitting in someone else's seat to produce a boarding pass in which she could not".

Macron gives one-week Brexit deal deadline

October 07, 2019

Brussels has said the plans "do not provide a basis for concluding an agreement". Sterling fell in early London trading on Monday as investors grow increasingly concerned that Britain and the European Union were no closer to agreeing a Brexit withdrawal deal.

Disney Blocks Netflix from Advertising Across Its Entertainment TV Networks

October 07, 2019

Disney has banned Netflix from advertising on any of its entertainment TV channels. Articles appear on euronews.com for a limited time. Fire TV, Roku and other companies offering such set-top boxes or plug-in "sticks" have become vital hubs for reaching consumers who stream media, and are increasingly playing the role cable companies have played in traditional TV.

Asian shares buoyed by United States jobs, trade talks in focus

October 07, 2019

Japan's Nikkei stock index rose 0.29 percent, while Australian shares were up 0.48 percent. Friday's mixed US monthly jobs report did little to influence market expectations, albeit a modest uptick in the US Treasury bond yields helped limit any deeper losses.

Crown employees walk picket line as strike begins

October 07, 2019

The CEOs of seven Crown corporations say customers may experience delays if Friday's strike continues. Crown workers at SaskEnergy, SaskPower, SaskTel, Securtek, Direct West, SaskWater and the Water Security Agency have all walked off the job.

Court Upholds Feds' Repeal of Net Neutrality; Allows State Protections

October 07, 2019

Lyons said he envisions a large portion of the state endeavors will fall flat. At least eight other states, - Hawaii, Montana, New York, New Jersey, Washington, Rhode Island, Montana, and Vermont - have passed their own net neutrality legislation or issued executive orders banning state agencies from doing business with internet providers that don't uphold net neutrality.

Tesla shares fall as it misses delivery estimates

October 07, 2019

In a statement released after Wednesday's NY close, Tesla said it delivered about 97,000 vehicles in the third quarter, including 79,600 Model 3 sedans , below the analyst consensus forecast for about 99,000 vehicles, including 80,200 Model 3s.

Investigation findings from Hy-Vee credit card data breach

October 07, 2019

An investigation found that some point-of-sale devices at certain Hy-Vee fuel pumps, Hy-vee owned drive-thru coffee shops and restaurants were infected with malware that could have put customers' card information in danger. The St. Joseph, Maryville, and Chillicothe fuel pumps were impacted, the company says. Grocery chain Hy-Vee has released a tool to help customers find out if they may have been affected by a previously disclosed data breach.

Why six million insurance policyholders are not getting a good deal

October 07, 2019

The report makes grim reading, the key finding being that 6m customers pay high prices and many loyal customers are not getting a good deal. David Williams, managing director, underwriting & technical services, AXA Insurance (UK), said: "Like the FCA, we believe that transparency is crucial and technology can play a role in tackling the issue of dual pricing".

Talks between UAW and GM take 'turn for the worse': union official

October 07, 2019

Worker Omar Glover pickets outside a General Motors facility in Langhorne, Pennsylvania, Friday, September 27, 2019. "The Company's response did nothing to advance a whole host of issues that are important to you and your families!" The main reason, the source says, is because General Motors is refusing to make a commitment to bring back any product lines from Mexico.

BEA: U.S. International Trade in Goods and Services, August 2019

October 07, 2019

But it is still up for the year despite President Donald Trump's attempts to push it down by imposing taxes on imports and waging a trade war with China. Meanwhile, the strong USA dollar fueled American imports of consumer items like mobile telephones as well as semiconductors and industrial equipment, according to the Commerce Department data.

BP CEO Bob Dudley to retire

October 07, 2019

Dudley's most notable achievement was rescuing the company in the wake of the Deepwater Horizon catastrophe in the Gulf of Mexico that caused the biggest oil spill in USA history and killed 11 people. Between 2015 and July 2019, BP added a net 6.5 billion BOE of oil and gas resources while buying and selling assets, data from consultancy Rystad Energy indicate.

Fed policymakers 'open' to rate cut as risks to outlook rise

October 07, 2019

Federal Reserve policymakers on Friday signalled they are on high alert for signs that uncertainty over trade policy and slowing global growth are beginning to hold back the broader USA economy, but so far they have flagged little in the data that is pointing one way or the other.

Big statement of Zuckerberg about money and properties

October 07, 2019

At least two USA presidential candidates - Bernie Sanders and Elizabeth Warren - have come out with strong opinions about tech companies like Facebook. "But I wanted to register up front, because I know we all talk about free expression, giving people a voice, as a core value, that I think that was a fairly troubling development this week.

KSA: Energy Minister Says Kingdom Restores Oil Output After Attacks

October 07, 2019

Brent crude oil futures LCOc1 rose 8 cents, or 0.1%, to $57.79 a barrel by 0138 GMT, while U.S. West Texas Intermediate ( WTI) crude CLc1 futures rose 12 cents, or 0.2%, to $52.57 a barrel. -China trade war. Data on Wednesday showed hiring at US companies cooling, while quarterly sales figures from automakers are adding to the concern.

HSBC to lay off 10,000 'high-paid' employees in major cost-cutting drive

October 07, 2019

As of June this year, HSBC, which cited the rigors of increasingly complicated banking landscape, has around 238,000 staff when it separated with Flint, based on its interim report . Quinn, then Chief Executive of HSBC Global Commercial Banking, has been with HSBC for 32 years - so he knows the bank well. The planned layoffs was reported after HSBC announced its August retrenchment and posted a dreary business forecast in the midst of an easing in financial policies, the Hong Kong riots, ...

Reserve Bank cuts repo rate by 25 basis points

October 07, 2019

The GDP growth for 2019-20 has been revised downwards from 6.9 per cent in the August policy to 6.1 per cent. "So far as the RBI is concerned, I would like to make it very clear that the banking system remains sound and stable and there is no reason for any panic", Das told reporters after the fourth bi-monthly monetary policy announcement.

Iran will use every possible way to export its oil: Minister

October 07, 2019

The massive South Pars field deal produces most of the natural gas, which it shares with Qatar. The part that China had been helping Tehran develop, known as phase 11, is near a section known as the South Pars Oil Layer. "We will not succumb to America's pressure because exporting oil is Iran's legitimate right", Zanganeh said. Total left the project three months after US President Donald Trump's administration withdrew from the nuclear accord in May a year ago and reimposed ...

PayPal pulls out of Facebook's Libra Association

October 06, 2019

In a statement late on Friday, PayPal says it has chose to "forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations".

No co-operative bank will collapse, says RBI governor

October 06, 2019

The resolution adopted by the MPC is categorical in admitting the economic slowdown. It was widely speculated that the RBI might change its stance to "neutral" due to the fiscal pressure expected out of the Centre's recent growth inducing measures.

Apple has no plans to launch cryptocurrency, says CEO Tim Cook

October 06, 2019

Mr. Cooks highlighted that Apple does not believe in the idea of private corporations setting up private currencies that compete with each other. Moreover, he took a dig at Facebook by saying that private companies should not strive to gain power by launching their own digital currencies .

United States jobless rate fell to 50-year low of 3.5%

October 05, 2019

The overall unemployment rate fell to a 50-year low of 3.5% from 3.7% in August. However, Wall Street had predicted 145,000 new jobs, and wages also proved disappointing with a meager 2.9% gain over the prior year. At the same time, retailers shed 11,400 jobs, and employment in mining and logging was unchanged. In the meantime, health care saw 39,000 new jobs, setting pace for the month, while professional and business services grew by 34,000, though the industry's average of 35,000 is ...

US adds 136,000 jobs; unemployment hits 50-year low of 3.5%

October 05, 2019

However, wage growth was unchanged and manufacturing jobs fell in September. Unemployment his a 50-year low in September even though nonfarm payrolls rose by just 136,000 as the economy nears full employment, the Labor Department said Friday.

Computer maker HP to cut thousands of jobs

October 04, 2019

HP said severance and related costs associated with the job cuts will cost the company $1 billion by the end of 2022, but HP said it expects the cutbacks will save the company $1 billion annually after that. Palo Alto, California-based HP also said its board on September 30 approved an additional $5 billion in share buybacks. Under the restructure, HP will heighten focus on tactics such as selling printers at bargain prices, providing buyers commit to buying ink cartridges from the company.

Oil slips towards $57 as economic gloom weighs

October 04, 2019

U.S. crude inventories rose 3.1 million barrels last week, more than forecast. Through the first nine months of 2019, Brent has risen roughly 7%, supported by 1.2 million barrels per day in supply cuts led by Opec and its allies including Russian Federation, plus involuntary outages such as a drop in Iranian exports due to USA sanctions.

HDIL chief, son held in PMC Bank case

October 04, 2019

A Special Investigation Team (SIT) will probe the case. Thomas was summoned to the EOW office at the city police headquarters and arrested after questioning. This chaos led to the appointment of an administrator for the bank by the Reserve Bank of India (RBI). These included the premises of former PMC Bank Chairman Waryam Singh and Thomas.

PMC Bank scam: ED raids six locations, slaps money laundering charge

October 04, 2019

An initial probe by the Reserve Bank of India had revealed that directors of PMC Bank, in connivance with others, had replaced 44 suspicious loan accounts with 20,149 fictitious bank accounts whose individual balances were low. The government had also issued a look-out circular against the two executives to stop them from leaving the country. A Special Investigation Team (SIT) will probe the case.

National Taco Day 2019: Where to Find Free Tacos and Other Deals

October 04, 2019

Viva Villa // Taco happy hour will continue through the afternoon, with $1 bistec or el pastor tacos from 11 a.m.to 1 p.m. 905 Dolorosa, (210) 987-8482, vivavillatacos.com . In order to receive a free taco , customers must present the coupon using the Taco John's App . Here, you can make your own combination of the chicken or beef tacos, or throw in some other classics, for $8.25 for two or $9.50 for three.

Samsung Pay adds virtual debit card and worldwide money transfers

October 04, 2019

Samsung Pay Cash is a mobile-only prepaid card, and Money Transfer lets you send money overseas from your phone. Using Samsung Pay Cash, owners of Galaxy smartphones will be able to keep money in the Samsung Pay app as they would keep cash in a wallet and use it at stores both online and offline just like they would use a debit card issued by an actual bank.

RBI cuts repo rate by 25 bps to 5.15%

October 04, 2019

The market is expecting the RBI to cut interest rates yet again, after last monetary policy's unexpected 35 basis point cut. The previous low in GDP growth was recorded at 4.3 per cent in the January-March quarter of 2012-13. "This should send a strong signal for bank lending rate cuts with the "busy" industrial season round the corner", BofA Merrill Lynch said in a report.

Whole Foods recalls Dorset cheese over possible listeria contamination

October 04, 2019

Whole Foods is recalling a popular cheese product due to potential Listeria monocytogenes contamination. Pregnant women, the elderly, young children, and people such as cancer patients who have weakened immune systems are particularly at risk of serious illnesses, life-threatening infections and other complications.

Brexit plan goes 'extra mile as time runs short'

October 04, 2019

And that is why we are leaving the European Union on 31 October anyway. Let us complete the Brexit . "The border region where trade relationships are particularly close, is vulnerable with the strong inter-linkages between Irish and United Kingdom firms' supply chains".

Visa, Mastercard Reconsider Backing Facebook's Libra

October 04, 2019

Visa and MasterCard are the #2 and #3 general goal payment card networks in the world, according to The Nilson Report . Partners such as eBay Inc., Booking Holdings Inc., Lyft Inc. In a tweet , he wrote: "The part of this article suggesting we weren't on top of, or didn't share detailed information about how to secure Libra and protect the network against illegal activity is categorically untrue; (worth calling BS)".

New Uber app will help people find jobs

October 04, 2019

The passing of new legislation in California has also opened the door for so-called " gig workers", like Uber drivers, to gain recognition as employees entitled to additional benefits including paid leave and medical cover. The Uber Works app will be available from Friday in Chicago only, where the app has been tested in the previous year. The app will provide information on pay, location and working conditions.

Google Safari tracking lawsuit gets go-ahead as High Court ruling is overturned

October 04, 2019

A GROUP OF CONSUMERS who launched unprecedented legal action against Google this week got given the go-ahead after appeals judges overturned a High Court ruling. The details that were allegedly harvested include ethnicity, political opinions and affiliations, sexuality, social class, sexual interests, physical and mental health.

C8 Corvette gains its racing stripes By Trent Giunco

October 03, 2019

It will hope to replicate this success with the new C8.R. Chevrolet unveiled the convertible version of its forthcoming mid-engine sports vehicle Wednesday night at the Kennedy Space Center in Florida, a location meant to evoke the days when astronauts with "The Right Stuff" cruised around nearby Cocoa Beach in their Corvettes.

In Leaked Audio, Zuckerberg Slams Warren Proposal to Break Up Facebook

October 03, 2019

Venture capitalists and early investors in companies are starting to think Warren is the most competent candidate with well-though-out policy stances, and that her tech breakup idea is more of an opening salvo than a definite plan . "They've bulldozed competitors, used our non-public data for revenue, and tilted the taking part in discipline towards everybody else", she wrote in a March eight weblog publish on Medium.

Forever 21 Oakdale Mall Location On Company's Closure List

October 03, 2019

Officials at the Mall of America weren't immediately available to comment on the future of that store. "The list , filed in court documents, said the company doesn't necessarily expect to close all of these locations, as talks with landlords are still ongoing to try to renegotiate leases and rents", CNBC reported.

Tesla shares fall despite record delivery numbers after missing Elon Musk's target

October 03, 2019

Shares of Tesla are down close to 27% year-to-date through Wednesday's close. Tesla Inc delivered fewer-than-expected vehicles in its third quarter, fueling doubts about the company's ability to turn a profit and sending its shares down almost 6% in trading after the bell.

UK economy headed for recession after services shrink unexpectedly - PMI

October 03, 2019

Today's UK Services PMI rounded a hat-trick of contractionary readings, resulting in the all sector PMI posting its first back to back contraction since 2012. Despite the slowdown for the sector, product prices were up during the month, with greater fuel expenses and more expensive raw materials. Joe Hayes, economist at IHS Markit , explained: "Activity is being pulled down at its second-fastest clip for over a decade as firms are buffeted by client hesitancy, heightened Brexit ...

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