Economy / 76

Durango grocers pull romaine recalled by CDC

November 24, 2019

Whole-genome sequencing shows the E. coli strain in romaine lettuce tested by the Maryland Department of Health is closely related genetically to the E.coli found in six people in this outbreak. Coli . Forty people have been sickened across 16 states in the outbreak. Epidemiologic, laboratory, and traceback evidence collected to date all point to romaine lettuce contaminated with E.

Lexus Reveals First EV In China

November 24, 2019

Weight of 2020 Lexus UX 300e is about 1,900 kg and features retuned suspension with revised dampers to handle extra weight. Despite the similar appearance, under the hood of the 300e is a 150-kw electric motor resting at the front axle. An app enables the driver to check the battery charge and driving range along with a timer function to tell the driver when the vehicle is fully charged.

WeWork lays off 2,400 employees

November 24, 2019

Claure plans to lay out a five-year turnaround a plan at company-wide meeting Friday amid employee anger over the mismanagement of a company that until recently had been the darling of the startup world, valued at $47 billion by private investors.

TSB Bank's latest IT failure leaves United Kingdom customers without cash again

November 24, 2019

But it marks the latest glitch to affect TSB , after a major IT meltdown previous year left almost two million people locked out of their accounts. Thousands of customers took to social media to complain, with some saying they were unable to pay for rent, bills and school meals for their children.

Tesla 'Cybertruck' has 146,000 orders despite launch mishap: Musk

November 24, 2019

When demonstrating the vehicle's resilience on stage the armor-glass windows shattered. Shares in the company plunged 6.1 per cent following the truck's bumpy launch and several lackluster reviews. Cybertruck's exterior is made from a newly developed stainless steel alloy, the same metal that's used for SpaceX rockets, according to Musk. Musk asked his designer, Franz von Holzhausen, to hit the stainless-steel auto door with a sledgehammer.

Lagarde tells eurozone governments to turn on the spending taps

November 24, 2019

Instead, she chose to send a message to euro zone governments, calling on them to strengthen domestic demand after a global trade war brought a decade of export-driven growth, largely led by Germany, to an abrupt end. Market participants will have to wait until the next European Central Bank meeting in December to hear Christina Lagarde extensively talking about monetary policy.

Indian crypto exchange WazirX acquired by Binance

November 24, 2019

Both companies have denied the reports. Following Binance's outraged response, The Block amended the story to say the office was shut down "following a visit by authorities". "You can argue about the semantics of an office, who leased it, for how long, if it is empty, etc", wrote CZ yesterday. Starting November 25, you can buy and sell crypto with Indian rupees (INR) on the Binance Fiat Gateway.

SAA & Unions Reach Wage Deal, Ending Strike

November 24, 2019

Strike-hit South African Airways (SAA) resumed limited domestic flights on Thursday, 21 November 2019, days after it commenced limited service to selected worldwide and regional destinations. Local media had earlier this week cited Public Enterprises Minister Pravin Gordhan warning that the strike was only exacerbating the airline's financial woes.

Solid Start For William Hill Under Ulrik Bengtsson Lead

November 24, 2019

Asher added that the company will now expand its current presence in Las Vegas to a number of marquee resorts. In addition, through its deal with Eldorado, William Hill is also poised to soon gain access to properties operated by Caesars Entertainment Corp .

Saudi Aramco order book reaches 73 billion riyals so far: Samba

November 24, 2019

Aramco is a major oil supplier to China, Japan and South Korea and their plans for the IPO are not yet clear, however, the head of Japan's largest refiner this month said that Japanese companies were unlikely to invest because it was hard to ascertain Aramco's true value.

WeWork to lay off 2400 staff under SoftBank-led restructuring

November 24, 2019

WeWork said the reductions began "weeks ago" overseas and are now affecting the US. In June the company said it had 12,500 employees. According to an worldwide media outlet, the groups affected by the layoffs include the company's architecture unit and its technology department.

Romaine salad recall expands amid E. coli outbreak

November 23, 2019

The U.S. Centers for Disease Control and Prevention said Wednesday that it expanded its salad recall . If you don't know whether the lettuce is romaine or whether a salad mix contains romaine, don't eat it. If the packaging has "Salinas" on the label in any form or isn't labeled with a growing region, the CDC recommends throwing it away. Whole genome sequencing shows that the strain in romaine lettuce tested by the Maryland Health Department is closely related genetically to the E.

U.S. companies using government fund barred from Huawei, ZTE

November 23, 2019

That final decision is expected to come next year, but could largely impact rural carriers that have relied on Huawei's affordable equipment. The fund provides subsidies to provide service in rural or hard-to-reach areas, and to libraries and schools.

Ryanair baggage fee policy ruled as 'abusive' in Spain

November 23, 2019

Larger bags can also require a luggage fee. She told MailOnline: 'This ruling will not affect the validity of Ryanair's baggage policy, either in the past or in the future. Luggage can be easily installed in the cabin, the judge said. However, compensation was ruled out as the judge did not deem the case to have caused enough stress to the disgruntled passenger.

British Airways says flights disrupted by ‘technical issue’

November 23, 2019

Passengers left stranded in the US, Canada and Mexico this week were told by the airline that their " boffins are working on it ", with flights into United Kingdom airports including Heathrow and Gatwick worst affected. This is not the first time British Airways has suffered a series of serious operational failures this year. In August, an IT glitch led to the cancellation of over 100 flights and disrupted the travel plans of tens of thousands of passengers.

What it's like inside Mercedes-Maybach's new ultra-luxury SUV

November 23, 2019

Maybach brand emblems are also dotted around the auto, with other unique features around the tail pipe trim, just to remind people you've paid for much more than a standard GLS. Other available extras that can be installed on this GLS include: folding tables, a refrigerator to store champagne bottles and flutes, a dedicated fragrance system that can perfume the cabin, temperature-controlled cupholders, and a wireless mobile interface which can be had with a Bluetooth receiver for private ...

Intel apologizes for PC chip shipment delays in open letter

November 23, 2019

Based on the letter , Intel does have a plan in place to increase production, both of 14 and 10nm chips architectures. The demand for CPUs is such that Intel still can not meet it, despite all these efforts, is essentially the long and short of the situation as it stands.

Engined Hyundai RM19 Test Bed Could Spawn A Future "N" Halo Car

November 23, 2019

The Hyundai Vision T Plug-in Hybrid previews an "eco-focused" SUV designed for dynamic driving, according to Hyundai. It isn't entirely for show. The latter may come from Hyundai's partnership with Croatian EV specialist Rimac. The current mix, starting with the Santa Fe and Tucson models, are reasonably handsome, but the Vision T design suggests the brand wants to push things a big step beyond.

Salad products in OH recalled for possible E. coli

November 23, 2019

The state collected and tested individual ingredients in the salad and the lettuce tested positive for E. coli O157:H7. All products from the same lot of lettuce are included in the Missa Bay recall. "This could be just the beginning of a larger outbreak related to romaine lettuce, and could result in more recalls", says Michael Hansen, Ph.D., senior scientist at Consumer Reports.

Microsoft gets okay to export 'mass-market' software to Huawei

November 23, 2019

On Monday, the US Commerce Department extended a temporary license to allow American companies to do business with Huawei for another 90 days. The letter , which was signed by Senate Democratic Leader Chuck Schumer and Republican Senator Tom Cotton and provided to Reuters , demands congressional leaders "be notified prior to the issuance of any licences to United States firms to sell components to Huawei and its affiliates".

Global Economy to Stagnate if Trade Uncertainty Persists, OECD Warns

November 22, 2019

The US economy is projected to grow at 2,3% - down from 2,4% projections in September - and continue to decelerate to 2% in 2020 and 2021. Korea's exports dropped 14.7 percent on year to $46.8 billion in October, extending their decline for the 11th straight month amid weak chip prices and global trade uncertainties.

Tesla Cybertruck: Elon Musk unveils weird £31,000 'bulletproof' pickup in chaotic launch

November 22, 2019

As Musk pushes to take a bite of Detroit's profits, Ford and larger rival General Motors Co are gearing up to challenge Tesla more directly with new offerings like the Ford Mustang Mach E electric SUV as well as electric pickups. Musk says the Cybertruck will be available in three different range varieties: 250 miles, 300 miles, and 500 miles. You'll need to put down just a $100 deposit, with production kicking off in late 2021 - while the tri-motor Cybertruck begins production by the ...

Saudi Arabia's Latest Trick To Boost Aramco Investment

November 22, 2019

Saudi Aramco has been forced to aim for an initial public offer some way short of its intended US$2trn market valuation and has cancelled its European and U.S. The lead nine lead banks will likely get the bulk of fees. They included JP Morgan, Credit Suisse, HSBC, Goldman Sachs, Merrill Lynch, Citigroup, and Morgan Stanley, but their participation was scrapped due to low interest in these markets.

Australia-based Westpac Has Been Accused of 23 Million Financial Violations

November 22, 2019

AUSTRAC, Australia's anti money-laundering and terrorism financing regulator, has taken Westpac to court, alleging the major bank violated anti-money laundering and terrorism regulation on over 23 million occasions. We are committed to assisting AUSTRAC and law enforcement agencies to stop financial crime. Shares in Westpac fell 2.2 percent, underperforming the wider share market.

Home Depot Remains On Track In Solid Q3

November 21, 2019

Krane Funds Advisors LLC bought a new position in shares of Home Depot in the second quarter worth about $25,000. Home Depot stock traded down $12.99 during trading hours on Tuesday, hitting $225.86. Several analysts have recently issued reports on HD shares. Goldman Sachs Group lifted their price objective on shares of Home Depot to $246.00 and gave the stock a "buy" rating in a research report on Tuesday.

Volkswagen ID Space Vizzion points to next VW Passat wagon

November 21, 2019

The cool move would make that third line face the back of the vehicle like wagons during the 70s and 80s. With its sleek surfaces and dual-tone paint job, the Space Vizzion looks properly mean. The interior is rather more concept-y for the moment. A "fully digitised" cockpit is in place too, with an Augmented Reality head-up display providing key driver information on the windscreen, while a mini display in place of traditional dials and gauges is present.

RBI supersedes DHFL board of directors, insolvency proceedings to begin soon

November 21, 2019

India's central bank said on Wednesday it would initiate bankruptcy proceedings against Dewan Housing Finance Ltd (DHFL ), as it seeks to address governance concerns and defaults at what was once one of the country's biggest shadow lenders.

Cabinet approves sale of stakes in BPCL, four other PSUs

November 21, 2019

The government will also give up the management control in these companies, Sitharaman said. The government will sell its 53.29 per cent stake in BPCL after taking out Numaligarh refinery from its portfolio. Pandey said the due process will be followed in privatisation and timeframe will depend on market interest. Such a scenario would impact BPCL's earnings per share by Rs 6.

GM Launches Lawsuit Against FCA

November 21, 2019

Executive Vice President and General Counsel Craig Glidden said in a statement, "This lawsuit is meant to hold FCA accountable for the harm its actions have caused our company and to ensure a level playing field going forward". "The UAW leadership is absolutely committed to making whatever changes are necessary to ensure on our end the misconduct that has been uncovered will never happen again".

Trump weighs exempting Apple from China tariffs

November 21, 2019

The move came once the Trump administration agreed to waive tariffs on certain computer parts made in China. Cook, who has a strong relationship with Trump, has sought relief for Apple from the United States tariffs, which are part of a months-long tit-for-tat trade war between the world's largest economies.

Aston Martin launches luxury SUV

November 21, 2019

Aston described the new SUV as a landmark moment in the company's 106-year history. Palmer said Aston Martin plans to follow in the footsteps of its German rival Porsche , which unveiled an electric model in September, and relaunch its Lagonda series "as a fully electric brand" by 2022 or 2023.

Lowe's to close 34 stores across Canada, London stores are safe

November 21, 2019

The Northgate Mall Lowe's will close on February 19, 2020, and is the only Saskatchewan store closing in the move. A bunch of home improvement stores will be closing across Canada soon. With reporting from The Canadian Press . About 100 employees at the Boucherville head office and a second Montreal-area office will also face layoffs, on top of about 30 employees in administrative positions across the rest of Canada, Lowe's Canada said in an email.

Aurora Cannabis Inc. (ACB) Stock Price Posted change of -16.48%

November 20, 2019

The level of trading activity in a stock is often a good proxy for the level of interest and enthusiasm for the name within the investment community. To add further misery to Aurora shares and its investors, the company also said that it would be halting production at its Nordic 2 facility in Denmark and delaying the completion at its Aurora Sun plant in Alberta.

Emirates to get 30 Boeing 787 Dreamliners for $8.8 billion

November 20, 2019

Still, the single-aisle jet managed to secure some deals at the airshow. Emirates will also purchase 126 Boeing 777 jets, or 24 fewer than it had originally ordered, after delivery of the planes was delayed. The Emirates, which feeds Dubai's busy global airport, posted significantly lower earnings of $237 million past year due to spikes in fuel costs at the end of 2018, a strengthened US dollar, lower airfreight demand and weakened travel demand.

Toyota RAV4 Prime Is The Most Powerful And Most Efficient Ever

November 20, 2019

The company also says the RAV4 is now its best-selling hybrid . Any time you can cut your fuel consumption as dramatically as this while increasing performance so substantially is a good day for any SUV owner. Moving into the cabin, drivers will a leather-wrapped steering wheel, heated front seats and an 8-inch infotainment system with Amazon Alexa, Android Auto and Apple CarPlay compatibility.

USA crude oil inventories up last week: API

November 20, 2019

The API reported a almost 6M barrel build late on Tuesday. The US-China trade developments remain the nearly exclusive driver of crude oil prices for the time being along with increasing concerns surrounding the situation in Hong Kong. The global benchmark crude traded at a $5.61 premium to WTI for the same month. Also weighing on crude oil prices was a report by the US Energy Information Administration, which forecast that US shale oil production to grow to 9.08 mln bbl per day in ...

Westpac accused of breaching money laundering, counter terror laws

November 20, 2019

Westpac allegedly failed to properly report more than 19.5 million worldwide funds transfers between 2013 and 2018. Such transactions may pose child exploitation risks, noted AUSTRAC. Ms Rose said Westpac also failed to pass on information about the origin of worldwide funds transfers and keep required records. In a written statement , Westpac Group said it received a statement of claim from AUSTRAC this morning and would make a further statement to the Australian Stock Exchange once this ...

Teamsters Canada: Strike begins at CN

November 20, 2019

Teamsters Canada Rail Conference member Jeff Janzen (centre) stands on a picket line with other local members outside the Kamloops CN Rail facilities on Tuesday, Nov. To avoid significant damage to the economy, the painful interruption of an untold number of lay-offs across Canada, the potential damage to the country's reputation as a reliable trading partner, specifically as a stable location for business operations and a competitive destination for business investment, MAC urges the ...

Salvation Army 'saddened' by Chick-fil-A's decision to end donations

November 20, 2019

The fast-food chain shared that it would instead be focusing on initiatives that further its "mission of nourishing the potential in every child " in 2020. This is a bad move and just the latest indicator that the center can not hold. "We're saddened to learn that a corporate partner has felt it necessary to divert funding to other hunger, education and homelessness organizations - areas in which The Salvation Army, as the largest social services provider in the world, is already fully ...

Reliance Jio to hike mobile tariff rates in coming weeks

November 20, 2019

The income tax department is, however, caught in a bind as Vodafone-Idea Ltd has to pay Rs 44,150 crore to the government in past statutory dues following the Supreme Court ruling that non-telecom revenues have to be included for calculating the payout towards license fee and spectrum usage charge.

Opay raises $120m from Chinese investors

November 20, 2019

The Norway-based, Chinese majority-owned company, Opera , has made an enormous impact both in the cryptocurrency industry and in African markets, especially Nigeria. Notably, since this year, Chinese investors have contributed a lot to African startups. OPay's funding and expansion plans are also a harbinger for fierce, cross-border fintech competition in Africa's digital finance space.

On Strike at CN Rail

November 20, 2019

The union gave a required 72-hour strike notice last weekend. Prime Minister Justin Trudeau's new cabinet could find itself moving faster than anticipated to deal with anger in the West over challenging economic conditions, in the face of a rail strike that a growing number of industry leaders say could trigger layoffs and closures and cost millions.

Easyjet to offset all emissions from flights

November 20, 2019

He added: "By offsetting we are taking another step and doing more than any other major airline in the world when it comes to reducing the overall impact and the footprint that we have on the environment". Also, Lundgren said that despite empty seats increasing on flights in the a year ago, his company will now take further action on reducing this number.

Emirates signs order for 50 Airbus A350

November 20, 2019

The deal replaces a heads of agreement reached in February, when Emirates announced a plan to buy 30 Airbus A350s and 40 A330neos. The most notable order announced so far was the decision of Dubai-based Emirates to order 50 Airbus A350 XWB aircraft worth $16bn, as reported by Air Cargo News yesterday.

Tiktok Owner Is Making Plans For Readying A Streaming Music Service

November 19, 2019

The Financial Times reports ByteDance is now in talks with record companies - including Universal Music , Sony Music and Warner Music - for global licensing deals to include their music libraries on its new music subscription service.

Fed chief reasserts independence in talks with Trump

November 19, 2019

Trump noted other nations in the world were lowering interest rates to near-zero or even negative interest rates. Trump , who has tweeted out a torrent of criticism at the central bank, said his meeting with Powell went smoothly. Powell has recently indicated he has no intention to continue the cuts. During two hearings last week, lawmakers sounded largely supportive and respectful of the Fed's independence.

Vegans to sue Burger King over 'Impossible' Whopper

November 19, 2019

The lawsuit filed in Miami federal court seeks damages for all US purchasers of the Impossible Whopper, and an injunction requiring Burger King to "plainly disclose" that Impossible Whoppers and regular burgers are cooked on the same grills.

Chick-fil-A cuts charity ties with anti-LGBTQ groups

November 19, 2019

Prior to today, Chick-fil-A has insisted that the company is not against the LGBTQ community, despite its CEO's public opposition to same-sex marriage and donations to controversial Christian groups. None of those groups appears in a list of Chick-fil-A's 2019 charitable giving that the company made available for preview. Former Arkansas Governor Mike Huckabee, who had supported Chick-fil-A during earlier controversies, said the company's changes sent a clear message.

WeWork could lay off thousands as turmoil grows

November 19, 2019

Additionally, should the company attempt to go public again, the underwriters of the move could block Neumann from naming additional directors, according to the article. Company losses went up by more than 150% from what it recorded same time a year ago. A spokesperson for WeWork declined to comment on the report.

Aurora Cannabis (TSE:ACB) Sets New 12-Month Low at $3.59

November 18, 2019

ACB has been the topic of a number of recent analyst reports. With continued supply bottlenecks in major Canadian provinces such as Ontario and Quebec, it didn't make sense for Aurora to continue on ahead with its expansion plans, especially since having more cannabis to sell in a hard market means it will only end up selling it for even less.