Economy / 40

Samuel Adam's creates special Halloween beer illegal in 15 states

October 19, 2019

Samuel Adams' 2019 Halloween brew is illegal in 15 states because of it's frighteningly high alcohol content. While an average beer's alcohol by volume, or ABV, falls below 10 percent, the new release is the highest naturally fermented beer at 28 percent, according to Forbes .

Coca-Cola's quarterly sales tops Wall Street expectations

October 19, 2019

Net income for the third quarter was $2.6 billion, up from $1.8 billion past year. The firm is expected to issue its next quarterly earnings results before the market opens on Friday, October 18th. The sale was disclosed in a legal filing with the SEC, which is available at this link . The stock was sold at an average price of $53.40, for a total transaction of $747,600.00.

China Economic Growth Unexpectedly Slows to 6% in Third Quarter

October 19, 2019

It was the weakest growth since China started reporting data by quarters in 1993. Prices of soybeans, iron ore and other commodities have fallen, hitting Brazil, Australia and other suppliers. China's exports to the United States, its biggest foreign market, fell 21.9 percent in September from a year ago. As the Trump administration relentlessly upped the trade war tariffs, China took further steps in the first quarter of 2019 to stimulate its economy through government-sponsored 114.3 ...

Alphabet’s Wing starts delivering packages with drones in Virginia

October 19, 2019

Wing Wikipedia describes Wing : "Wing is a subsidiary of Alphabet Inc. that develops technology of drone-based delivery of freight". The last mile of that FedEx Express delivery, which would normally be via truck, was done with a Wing drone.

Ford announces biggest electric vehicle charging network in North America

October 19, 2019

Ford says drivers will be able to charge at one of over 35,000 outlets, including some fast-charging, and that power will be free for the first two years, and pay-as-you-go after that. The network approach sounds like a really good idea, especially if traditional automakers (competitors) agree to collaborate on charging stations. The FordPass Charging Network will consist of stations from multiple charging providers, including Greenlots and Electrify America, allowing Ford customers to ...

Saudi Aramco IPO Delayed Amid Deteriorating Conditions

October 19, 2019

Saudi Aramco was declared the most profitable company in the world after it published its financial results for the first time, disclosing that it made $111 billion in profits back previous year. "They want to do all what they can to hit valuation target, solid results after the attack will give them a stronger position", one of the sources told Reuters .

Johnson & Johnson recalls lot of baby powder

October 19, 2019

The International Agency for Research on Cancer believes the link between asbestos and mesothelioma to be strong enough to say that it causes cancer. Numerous suits are ongoing, but have already cost the company many billions of dollars. The recall only applies to the United States , a spokesman said.

Euro zone yields surge on Brexit deal agreement

October 18, 2019

Alternatively should the United Kingdom and European Union be able to hammer out at least the basis for deal ahead of the upcoming European Union summit then the skies the limit for the Pound, as we could see it rise to its best levels since the European Union referendum.

Netflix revs up growth as streaming TV war looms

October 18, 2019

Couple that with the tech-giant's offer a free one-year Apple TV subscription with a purchase of any new iPhone, iPad, or Mac and the company has the opportunity to convert hundreds of millions of global users per year into paying customers.

Flavored Juul Products Officially Off-the-Market In the US

October 18, 2019

The company will continue to sell tobacco, mint and menthol pods in USA retail locations and online, but Juul will "continue to review our policies and practices in advance of FDA's flavor guidance and have not made any final decisions", according to a Juul spokesperson.

Why Netflix Continues to Shrug Off Looming Threats From Disney and Apple

October 18, 2019

Netflix's streaming subscriber base continues to grow, ending the quarter at more than 158 million global paid subscribers, up from 130 million a year ago. With Apple and Disney set to launch new streaming services next month, and other major content owners like NBC looking to soon start their own as well, the landscape of streaming is about to dramatically shift, and while you might think this is enough to make old-school content providers like Netflix nervous, it seems that the streaming ...

G7: digital currencies must be secure and safe

October 18, 2019

Bertrand Perez , former senior director of payments engineering at PayPal was confirmed at the meeting as Libra's chief operating officer and managing director. The Association's 21 remaining members include Facebook , Spotify, Uber and Lyft. "You know you're on to something when so much pressure builds up".

Airline ditches 'ladies and gentlemen' in favour of more politically correct term

October 18, 2019

Air Canada didn't say when the changes will go into effect, according to CTV . A company memo stated, "we want to ensure an inclusive space for everyone, including those who identify with gender X". In March, the United Airlines became the first USA airline to recognize gender-neutral pronouns after offering a gender-neutral title "Mx" alongside "Mr" and "Mrs".

Qatar pledges to end ‘kafala’ employment laws — United Nations labor body

October 18, 2019

Together, these requirements have trapped many migrant workers in slave-like conditions when their wages are cut or stopped, leaving them unable to change jobs or go home when unscrupulous bosses withhold the necessary paperwork. Critics of Qatar have long included International Trade Union Confederation (ITUC) general secretary Sharan Burrow but even Burrow has welcomed the announcement, saying " Qatar is changing".

Volvo XC40 Recharge Electric SUV Breaks Cover

October 18, 2019

The XC40 Recharge is Volvo's first fully-electric vehicle , and the first auto to appear in the automaker's "Recharge" vehicle line. With the new XC40 Recharge model, drivers will experience a fully-electric all-wheel drive powertrain rated 402 horsepower.

USA bombs its own military base after Syria withdrawal

October 17, 2019

Erdogan reportedly took the letter warning against being a "fool" and tossed it "in the bin", the sources said. "It will look upon you forever as the devil if good things don't happen". "You don't want to be responsible for slaughtering thousands of people, and I don't want to be responsible for destroying the Turkish economy - and I will", he wrote .

EU Leaders Endorse Brexit Deal, Sending It to UK Parliament

October 17, 2019

After the deal was announced, Johnson joined the EU's 27 other leaders at a summit in Brussels , shaking each by the hand as he entered the room and laughing and joking with German Chancellor Angela Merkel and French President Emmanuel Macron.

Netflix shares jump as subscribers grow ahead of Disney, Apple attack

October 17, 2019

Netflix reported $5.2 billion in revenue in the third quarter, up 31 per cent over the prior year, and operating income doubled to $1 billion. "Since our United States price increase earlier this year, retention has not yet fully returned on a sustained basis to pre-price-change levels, which has led to slower U.S.

Brexit deal has been agreed, say Boris Johnson and Jean-Claude Juncker

October 17, 2019

British Prime Minister Boris Johnson tweeted that the two sides had struck a "great new deal" and urged United Kingdom lawmakers to ratify it in a special session on Saturday. Separately, British Prime Minister Boris Johnson said "we have a great new Brexit deal". The party said the position was unchanged after the announcement of the provisional deal.

Unemployment rate falls to 5.2pc

October 17, 2019

Today's release shows unemployment was at 5.2% in September, still far from the RBA target, but improving. Certainly, if the RBA is intent on seeing the unemployment rate fall to 4.5 %, then the economy isn't growing almost fast enough to achieve that, and so this could be one argument for embarking on unorthodox policy measures.

Oil slips further below $59 on weaker economic outlook

October 17, 2019

The American Petroleum Institute (API) reports its weekly USA inventory numbers at 2030 GMT, ahead of Wednesday's government stocks data. "Should EIA inventories illustrate for a fifth consecutive week build, we expect for strong selling pressure to afflict oil prices on an intraday basis", Benjamin Lu from Phillip Futures said in a note.

Retail sales falter in September, posting first decline in 7 months

October 17, 2019

The decline was the first since February. Sales in a retail control group which focuses on key components that go into computations of GDP were unchanged in September after a 0.3% gain in August . Development is additionally being limited by the blurring improvement from a year ago's $1.5 trillion tax break bundle. With shopper spending easing back, a full exchange accord still tricky and subtleties of Britain's exit from the European Union vague, numerous business analysts anticipate ...

GM CEO Barra joins bargaining talks in bid to end UAW strike

October 17, 2019

CEO Mary Barra and GM President Mark Reuss joined the talks this morning with UAW President Gary Jones and Vice President Terry Dittes. A union demand that all vehicles sold in the U.S.be built here apparently has been resolved, but terms are unknown.

UK inflation holds steady at three-year low

October 17, 2019

Due to a shortage of supply, prices of the staple meat pork were one of the main drivers of the CPI uptick, while the growth rate narrowed on a month-on-month basis to 19.7 percent in September, said NBS senior statistician Shen Yun. But the central bank has been reticent to make any changes to its monetary policy stance ahead of the 31 October Brexit deadline. "BoE is likely to stay put for a while as, considering how fragile the United Kingdom economy is at the moment, a policy mistake would ...

Non-profit feeds UAW workers who don't have access to food

October 17, 2019

The entire membership also must vote. Now that GM has been nursed back to health - earning $2.42 billion in its latest quarter - they wanted a bigger share. "The number one priority of the national negotiation team has been to secure a strong and fair contract that our members deserve", said UAW Vice President Terry Dittes, Director of the UAW GM Department.

Taco Bell seasoned beef recalled over metal contamination

October 17, 2019

The issue was discovered when customers reported finding a metal shaving in their food. The alleged metal-tainted meat was produced by Kenosha Beef between September 20 and October 4, and then transported to five distribution centers (in Michigan, New Jersey, New York, Ohio and Virginia), USA Today reported .

Volvo vows to cut carbon footprint in bid to sell electric SUVs

October 17, 2019

The 402-hp crossover marks the debut of a greater Recharge lineup of battery electrics and plug-in hybrids and an era in which every customer will have to decide if they want their Volvo with a plug or without. Volvo said the XC40 Recharge will receive over-the-air updates , the first Volvo with the technology, and Volvo Chief Technology Officer Henrik Green claimed the updates will give buyers better, fresher vehicles throughout their car's life cycle.

Hexo to launch low-cost cannabis product to undercut illicit market shops

October 17, 2019

On the flip side, the low price for the trading session is presently 0.47. ACB registered activity of relative volume at 1.2. The beta factor is 0.00.A stock with a beta more than one means high volatile and less than one means low volatile.

Bipartisan House vote condemns Trump’s withdrawal from Syria

October 17, 2019

The Turkish president's comments come a day ahead of a visit by U.S. Vice-President Mike Pence to the Turkish capital Ankara. Trump participates in a joint press availability with Italian President Sergio Mattarella in the White House. At least 70 civilians, 135 Kurdish-led SDF fighters and 120 Turkey-allied Syrian fighters have been killed in the region since the offensive began, the UK-based Syrian Observatory for Human Rights said on Wednesday.

CannTrust to destroy $77M of plants and inventory, prompting share jump

October 17, 2019

Hammill called the announcement a step forward but argued that it doesn't bring any further clarity to CannTrust's situation, as much will depend on Health Canada's response. " Our goal is to meet and exceed Health Canada's regulatory standard, and to rebuild the trust and confidence of our primary regulator, investors, patients, and customers ".

UAW, GM reach tentative deal

October 17, 2019

The UAW rejected the latest offer from GM on October 6 and GM made a counteroffer the following day. That figure is unchanged in the final agreement, a person briefed on the matter said. Normally the major provisions carry over to the other two companies and cover about 140,000 auto workers nationwide. The elected national negotiators voted to recommend the UAW GM National Council accept the Proposed Tentative Agreement as the agreement represents major gains for UAW workers.

Panera Bread worker says mac-and-cheese video got her fired

October 16, 2019

The account @BriiRamirezz told Twitter followers, "lol I lost my job for this video". " Mac and cheese is made off-site with our proprietary recipe developed by our chefs and using our sourced ingredients that meet our standards for our clean menu offerings", the spokesperson said.

USA imposes sanctions on Turkey over Syria operation

October 16, 2019

President Trump's action has been widely condemned for altering the balance of power in the region. We have thousands of them. Due to the U.S withdrawal, Russian military forces are now patrolling areas of fighting in northeastern Syria between Turkish and Kurdish troops.

China's exports fall, imports contract for fifth month

October 15, 2019

China: From Trade War to Reciprocal Deal (2019), holds an optimistic stance about the recent developments. "Instability and uncertainty are increasing", a customs agency spokesman, Li Kuiwen, said at a news conference. For the first nine months of the year, Chinese imports of United States goods fell 26.4% to $ 90.6 billion. Trump has postponed raising the tariff on Tuesday for 250 billion dollars of Chinese goods.

California regulator criticizes utility over power outages

October 15, 2019

PG&E last week took the unprecedented step of cutting power to more than 700,000 customers, affecting almost 2 million Californians. PG&E said it turned the power back on for some of the 513,000 customers in 22 counties who were left in the dark around midnight Wednesday for the company's first wave of outages due to a "widespread, severe wind event ".

Harley-Davidson halts electric motorcycle production after discovering glitch

October 15, 2019

The company said it did not initially have a new date for re-starting production. Unveiled in 2014, the LiveWire sold for around US$30,000 in North America and Western Europe, according to the Harley-Davidson website. The bike also has a 4.3-inch TFT display that features Bluetooth connectivity. The Harley-Davidson LiveWire is making the headlines yet again. The first electric vehicle from the American brand features a 15.5 kWh battery pack with fast charging capabilities, and it is ...

India's growth projection may fall to 6 percent

October 15, 2019

While credit growth rate to the services sector more than halved to 13.3 per cent in August from 26.7 per cent a year ago, personal loans growth also moderated to 15.6 per cent in August from 18.2 per cent in August 2018. "The drivers of the deceleration are multiple, mainly domestic and in part long-lasting", Moody's wrote. While the funding waft would income within the medium term from the hot reduce within the effective corporate tax fee for domestic companies by Finance Minister ...

Facebook's Libra project falling apart as more big partners pull out

October 15, 2019

Speaking to CoinDesk, a Mastercard representative confirmed that it has pulled off the association . The association , whose remaining 22 members include ride-hailing firms Uber and Lyft, also consists of non-profit organisations, venture capital groups and blockchain firms.

Singapore eases monetary policy, Q3 GDP rises

October 15, 2019

The Monetary Authority of Singapore (MAS) has eased the monetary policy "slightly" - the first easing in over three years - amid slowing economic growth. "Consequently, inflationary pressures should be muted", it added. Singapore's economy grew less than expected in the third quarter from the previous three months on an annualised basis, but avoided slipping into a technical recession, preliminary data showed on Monday.

Toyota LQ Concept shown - uses AI to bond with you

October 15, 2019

Japan's biggest automaker has been developing fuel-cell vehicles for more than two decades, but the technology has been eclipsed by the rapid rise of rival battery-powered electric vehicles promoted by the likes of Tesla Inc. While both cars share the same design theme and silhouette, the LQ seems to be closer production reality as it has functioning door handles and wing mirrors.

Volkswagen is said to be considering options for Lamborghini

October 15, 2019

According to Bloomberg analysts, the good results of Lamborghini are conducive to an IPO. "Speculation to this effect is unfounded", a VW spokesperson said in a statement to Reuters . He's targeting a market value for Volkswagen of 200 billion euros, the people said, from about 81 billion euros now. VW had acquired Bentley, Bugatti and Lamborghini in a single year in 1998.

Union boosts strike pay for GM workers as talks continue

October 14, 2019

The strike pay was set to increase January 1, 2020. Monday marks day 29 of the national strike. The union's board voted Saturday to raise the pay by 10%. "Upon completion of those committees, the union will answer the company's latest proposal presented. and will prepare and provide a comprehensive proposal for your consideration", the same Thursday letter said.

Porsche Taycan Naming Gets More Confusing, Here Comes the 4S

October 14, 2019

The Taycan 4S can be ordered immediately and is scheduled to arrive in USA dealerships in spring 2020. The Taycan 4S is available with two battery specifications for varying charge capacity and performance, the Performance battery and the Performance Plus.

Dyson pulls plug on electric auto project

October 14, 2019

Dyson's project, consisting of plans to build a " radically different " vehicle, had received a £5m grant as part of the UK's National Infrastructure Delivery Plan . In its report on Dyson's failure to make its EV plans commercially viable , the BBC acknowledged that, while major manufacturers like Volkswagen can afford to plough tens of billions into the EV industry on the basis that economies of scale will ultimately make the technology cheaper and generate returns, it would prove a ...

SEC Obtains Emergency Restraining Order Against Telegram's $1.7 Billion Token Sale

October 13, 2019

Telegram stated it could ship the tokens to the purchasers by no later than October 31, 209 and the purchasers would be capable of promote them into the market. The company has not disclosed the details regarding its development work. The US Securities and Exchange Commission has formally instructed Telegram Group, the parent company of the Telegram encrypted messaging service, to halt sales of its cryptocurrency Gram .

Uber acquires online grocery store Cornershop

October 13, 2019

Uber Technologies Inc. plans to buy a majority stake in Latin American online grocer Cornershop , a deal created to extend its geographic reach and bolster profits by bundling food delivery with rides. Khosrowshahi has previously mentioned that a grocery delivery would be a natural place for Uber, considering the success of its food delivery service, Uber Eats .

Turkey slams Arab League's comments on anti-terror campaign in Syria

October 13, 2019

Clashes on Saturday intensified around Ras al-Ain, amid conflicting accounts over which side was in control of the key border town. Newsweek reported the Turkish attack was apparently by mistake. The Syrian Observatory for Human Rights announced on Saturday that four civilians were killed in Tal Abyad when an airstrike hit the vehicle in which they were fleeing the fighting, while another three were shot dead by snipers around the border town.

Turkey says troops captured Syrian border town

October 13, 2019

Austria, Switzerland and Greece also saw Kurdish demonstrations against Turkey's offensive in Syria . The abrupt shift in USA policy followed a phone call between President Trump and Erdoğan that appears to have caught senior administration officials off guard.

Protest At Turkish Embassy In Tehran In Protest To Syria Invasion

October 13, 2019

A fellow member of NATO, Turkey is supposed to be an American ally. He hastened to add that the Turkish offensive would not target civilians. Some of the Kurdish prisons have tried to take a different approach, aiming "to rehabilitate and reintegrate numerous Islamic State fighters in their custody, in hopes of deterring a revival of the militant movement", as Sly reported .

Toyota RAV4 Plug-In Hybrid: One Step Ahead Of The Competition

October 13, 2019

It's an interesting strategy that Toyota claims is responsible for a 150-percent increase in RAV4 Hybrid model sales over the previous generation. "Customers who ordered a RAV4 Hybrid Cruiser, our most popular RAV4 model, can now expect wait times longer than six months from the date of purchase", the spokesperson said.

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