Economy / 55

US core capital goods orders tepid; shipments drop

December 26, 2019

Stripping out defense goods, orders were up 0.8%. Orders in October were lowered to a 0.2% gain from the prior estimate of an 0.5% increase. Capital expenditure has been undermined by the White House's 17-month trade war with China, which has hurt business confidence.

Dense fog disrupts air traffic in Chicago

December 26, 2019

The National Weather Service of Chicago said a dense fog advisory was in place on Tuesday morning, and that visibility was less than a quarter mile in some areas. O'Hare reported three cancellations and Midway had 63. So far Tuesday morning, 71 flights have been canceled. As of 1655 GMT, the average arrival delay at Midway was 56 minutes, while the departure delay 36 minutes, affecting about 85 percent of all scheduled flights, according to flightradar24, a global flight tracking service.

Trump Claims Trade Talks 'Breakthrough' With China

December 26, 2019

Visit Business Insider's homepage here . The remark above comes after U.S. president Trump said yesterday that he and China president Xi Jinping will have a signing ceremony to the Phase One trade deal. Beijing has not yet confirmed specific components of the deal that were released by US officials. Beijing on Thursday said it "firmly opposes" trade restrictions included in a new U.S.

YouTube removes crypto videos citing ‘harmful or unsafe content’

December 26, 2019

Other YouTube creators reported similar incidents happening to them, too. While this could explain why videos are being removed for potentially being "harmful and unsafe", it wouldn't explain why some are being removed for the "sale of regulated goods".

US ready to deal with any N. Korean 'Christmas gift'

December 26, 2019

Maybe it's a nice present , maybe it's a present where he sends me a handsome vase. Trump suggested that Kim's threat might turn out to be a "nice present" on Christmas rather than a missile test, which would deliver another blow to his effort to broker a landmark nuclear pact with North Korea.

Cincinnati Bell to Be Acquired by Canadian Firm in $2.6 Billion Deal

December 25, 2019

The transaction would offer immediate and clear value at an appealing premium and would come as a thrilling new chapter for their company, said Wentworth. The business is undergoing an industry-leading transformation to upgrade its network to next generation fiber, which will be critical to support the growing demand for data and the advent of 5G.

Rivian Secures Additional $1.3 Billion from New Investment

December 25, 2019

In February, the company raised $700 million in funding led by Amazon . Amazon's investment in Rivian was strategic as the company also ordered 100,000 vans from the electric automaker with deliveries expected to start in 2021. Ford already has plans to use Rivian's "skateboard" battery and the engine platform for an upcoming Lincoln model, and Amazon has already closed a deal for electric delivery trucks.

How major United States stock indexes fared Tuesday

December 25, 2019

The benchmark S&P 500 index is set for its biggest annual percentage gain since 2013, with the market's mood a sharp contrast with Christmas Eve a year ago, which was the tail end of a severe swoon in which the S&P 500 came within a hair of confirming a bear market.

Kuwait: Kuwait and Saudi set to sign oil production agreement

December 25, 2019

Oil is lacking a clear directional bias in Asia with buyers staying on the sidelines possibly due to news that Kuwait and Saudi Arabia are closing on a deal to renew oil output along the border. shale explorers boosted drilling. Kuwaiti and Saudi officials didn't specify when production is to resume, and such details will require further negotiations, according to a person with direct knowledge of the matter.

Tesla Hits $420 to Complete Wall Street 'U-Turn'

December 25, 2019

Musk , who was sued by the U.S. Securities and Exchange Commission a year ago for falsely tweeting he had funding to take the company private at that price, cracked a joke about the milestone on his favorite social-media platform. CEO of Tesla Inc . When Tesla reported a profitable fourth quarter the same month as layoffs, it wasn't enough to satisfy Wall Street and the stock took a 5% hit.

Uber says co-founder Travis Kalanick to leave company's board

December 24, 2019

Kalanick will officially resign from the Board as of December 31, to "focus on his new business and philanthropic endeavors", according to a press release issued by Uber. "Uber has been a part of my life for the past 10 years". Fowler says her boss propositioned her and higher-ups ignored her complaints. Days later, Waymo, a self-driving auto company spun off from Google, sues Uber.

Spain dishes out $2.64 billion in bumper Christmas lottery

December 24, 2019

The winners of the top ticket won 20,000 euros for each euro spent on a 20-euro ticket. The incredibly popular lottery dished out a total of 2.24 billion euros (AU$3.6 billion) in prizes this year, including lots of smaller prizes. El Gordo is managed by the Spanish lottery, and after the winners are paid, the winnings fund the state budget. There are 170 sets of 100,000 tickets, with each full ticket - costing €200 - entering players into the draw to win the top prize of €4m.

City, county offices in Kalamazoo closed for the holidays

December 24, 2019

Some Boston Market locations will be open Christmas Day with a special meal for $13.99 per person. FedEx and UPS hours may vary to USPS operating hours. and are closed Christmas Day , so check your location . But when is your local branch open during the Christmas holidays and when will they close? Curbside collection will take place as usual on Boxing Day .

Oil declines but set for third weekly rise

December 24, 2019

However, the price gains were kept in check as investors' concerns for oversupply issue were renewed. Two weeks ago, OPEC and other non-OPEC producers such as Russian Federation agreed to deepen production cuts by a further 500,000 barrels per day (bpd) from January 1 on top of previous reductions of 1.2 million barrels per day.

Spain dishes out £1.9bn in massive Christmas lottery

December 23, 2019

El Gordo , which means "the fat one", is an annual Christmas lottery held on 22 December, since 1763. This year thousands of people shared in the massive $4 billion (2.24 billion euros) in prizes. Dating back to 1812, the lottery has become a major part of Spain's festive calendar, developing an array of traditions over the years. Because so many people play the Christmas game, "numbers are repeated up to 165 times", the website states.

US Steel planning to idle portion of Great Lakes Works operation

December 23, 2019

U. S. Steel intends to indefinitely idle a significant portion of its Great Lakes Works operation near Detroit, Mich. That's led to a spate of corporate operational initiatives under different names that have shifted multiple times since 2014.

China announces tariff cuts, more competition in markets

December 23, 2019

An outbreak of swine flu prompted the reduction in tariffs on imported pork, but China's willingness to cut the cost of other goods coming into the country reflected concern at the slowest growth rate in 30 years. Products from Australia , New Zealand , South Korea, Singapore, Switzerland , and others will receive lower levies under new agreements, Bloomberg said.

Carnival cruise ships crash together in Cozumel, Mexico

December 23, 2019

Several onlookers captured it on video and shared it on social media. "We are assessing the damage but there are no issues that impact the seaworthiness of either ship", said the statement. Sunday, the Port of New Orleans website says. The ship was scheduled to return to Tampa on Sunday. The terrifying scene unfolded when one ship was docking at the popular Mexican resort island of Cozumel.

Ripple Raises $200M in Series C Funding

December 23, 2019

Clearly, XRP is the native token of Ripple . Watch XRP trade live here . XRP is the world's third most valuable crypto and it became the biggest competitor of Bitcoin n 2011, Lately, Ripple has been heading to persuade financial firms to implement XRP as a "bridge currency" on cross-border transfers.

New Alphabet CEO gets US$240 mil pay package and a raise

December 23, 2019

Pichai is widely credited for making the Google chrome browser a success and was seen as a potential successor to Microsoft Corp CEO Steve Ballmer before Satya Nadella took over in February 2014. However, Page and Brin continue to be involved as co-founders, shareholders and Alphabet's board members. The salary is a jump from the $1 paid a year ago to Larry Page for doing the job.

Economy grew at 2.1% rate in third quarter

December 22, 2019

Economists polled by MarketWatch predict GDP will taper to 1.5% in 2020 from an estimated 2.3% in 2019 and 2.5% in 2018 (based on fourth quarter to fourth quarter changes). Consumption increased 0.3% in October. Low unemployment and steady wage gains help the working public maintain spending on retail goods and services, which accounts for the lion's share of USA economic activity.

Trump Tweets About "Very Good Talk" With Xi Jinping Over Trade Deal

December 22, 2019

China Central Television said that Xi spoke with Trump at the request of the president of the United States. Trump tweeted that China "already began very big scale" will enhance in purchases of United States farm goods, in step with the deal.

RI Adds 1000 Jobs in November, Unemployment Dips to 3.5%

December 22, 2019

The national unemployment rate dropped one-tenth of a percentage point to 3.5%. According to estimates from the U.S. Bureau of Labor Statistics released by the New Jersey Department of Labor and Workforce Development on December 19, total nonfarm wage and salary employment was up by 7,200, but as more residents enter the workforce looking for work the unemployment rate crept up 0.2 percentage points to 3.4 percent.

Ford recalling over 600K cars for brake issue after 15 accidents

December 22, 2019

Ford says that a valve inside the hydraulic brake control unit can remain open, resulting in a prolonged travel of the brake pedal. Ford says it's aware of 15 reports of accidents and two injuries possibly related to the issue. Bead-wire corrosion can cause separation of the bead wire, resulting in a rapid loss of air pressure, which leads to the tread detaching from the tire.

General Motors Issues Recalls for Over 900000 Vehicles

December 22, 2019

Faulty brake software can disable electronic stability and traction control systems temporarily, without warning to the driver, for a single ignition cycle. GM is not aware of any crashes due to this error, but the Company does not want to take the risk of this rare error turning up in any of their vehicles.

CDC links listeria outbreak to prepackaged, hard-boiled eggs

December 22, 2019

Four of those people were hospitalized and one died. It also advised pregnant women and those at high-risk for Listeria infections , including adults over the age of 65, against consuming any store-bought hard-boiled eggs or products containing hard-boiled eggs , such as egg salad.

France fines Google €150 million over adverts

December 22, 2019

It is the latest in a string of European fines against Google , which faces little competition for search engine business across the continent. A Google spokesman told TechCrunch the company will appeal the decision . At issue are the ads that appear next to search results. Google agreed a settlement of $1. 1 billion with France over a fiscal fraud case in September this year, and in January the country's data protection watchdog fined Google 50 million euros ($ 57 million ).

United States stocks trade higher amid economic data

December 22, 2019

The S&P 500 is on pace for its best week in more than three months. For now, at least, the pact has helped ease a key source of uncertainty for investors heading into next year. Much of the growth from that July-through-September quarter came from stronger consumer spending. Intel Corp rose 1.7 percent. Health care companies makers of household goods also notched solid gains.

Instagram, Facebook influencers can no longer promote vaping, guns

December 22, 2019

Other posts promoting Vype congratulated Rami Malek on his Bafta best actor award for Bohemian Rhapsody and featured a picture of model Olivia Jade Attwood smoking an e-cigarette. Hurley also called on Facebook, Instagram and Twitter to implement their own policies barring tobacco companies from targeting young people. But until now, Mark "not the arbiter of truth" Zuckerberg has let individual users-even those with 1M+ followers-share pretty much whatever they want, paid promotion included.

Multiple Ring data breaches reported, thousands of customers impacted

December 22, 2019

Despite supplying video doorbells and cameras which are promoted as better safety for your house, Ring has fought with quite a few security flaws of its own, as was reported frequently as of late. "Our security team has investigated these incidents, and we have no evidence of an unauthorized intrusion or compromise of Ring's systems or network", said a spokesman for Ring.

Goldman in talks to admit guilt in 1MDB case

December 22, 2019

The bank is said to be negotiating with the United States for a US$2 billion (S$2.7 billion) settlement that would include an admission of guilt by a unit in Asia. According to the U.S. Justice Department, Goldman earned US$600-million in fees for its work with 1MDB. Leissner, Ng and others received significant bonuses related to this income.

Delaware Voters React To President's Trump Future In Office

December 22, 2019

Pelosi commented last month on why she refused to indict Bush when she became spokeswoman in 2007, saying that she did not want it to be "a way of life in our country". I want an immediate trial! Minutes after Wednesday's vote, Democrats began pushing for four current and former White House aides with direct knowledge of Trump's Ukraine dealings to testify.

Just Eat takeover battle heats up as rivals make new bids

December 22, 2019

It sweetened its bid to give Just Eat shareholders about 57.5% of the combined group, implying a 916 pence value for each Just Eat share. In October, the Euronext and JSE-listed tech giant made a bid of 4.9 billion pounds ($6.35 billion or R94 billion) or 710 pence a share, in cash for Just Eat .

Wawa found malware with ability to capture credit, debit card numbers

December 22, 2019

Wawa customers who used a payment card at any location in the last nine months should carefully examine their bank and credit card statements during that time for unauthorized charges. If you have not used a payment card In the aforementioned timeline between March and December of this year you were not affected by this incident. It does not appears that debit card PINs or credit verification values (CVV) numbers were exposed.

BMW all-electric iX3 with 440km range to start production in 2020

December 22, 2019

According to BMW, the SUV's motor will deliver 286 horsepower and 295 lb-ft of instant torque. At first, BMW eDrive 5th-gen will be utilized in the all-new BMW iX3 (described recently here), which is scheduled for production in China (for global market) by the end of 2020.

United Kingdom needs tougher rules to tackle online giants

December 21, 2019

The Competition and Markets Authority (CMA) fears the tech giants' large market share could allow them to increase advertising prices, which could consequently be passed on to consumers buying online. It said platforms such as Facebook did not give consumers the option to opt out of personalised advertising, and privacy settings were made very hard to access and navigate.

BOJ maintains policy amid downside risks, remains upbeat despite economic weaknesses

December 21, 2019

The central bank, which is expected to stand pat on policy at the end of its meeting on Thursday, isn't due to revise its quarterly projections until January. But it's not as if we can deepen negative rates indefinitely. A majority of the officials voted in favor of maintaining the policy. Hamada, however, countered the view Japan has limited scope to expand fiscal spending, arguing that the government should make the most from ultra-low interest rates by boosting public spending.

Kohl's now open 24 hours a day until Christmas Eve

December 21, 2019

Christmas Eve. Manatee County and Buffalo Creek golf courses will be closed on Christmas Day. BC Transit says public buses will not be running Christmas Day, Boxing Day or New Year's Day. All MCAT buses will stop running at 3 p.m. on Christmas Eve. Cineplex Odeon theatres are open all year round. Upper Canada Village's Alight at Night will be closed for Christmas Eve and Christmas Day, but will be running from 5 p.m.to 9 p.m.

Google cops epic Aussie tax bill following government audit

December 21, 2019

Google told Business Insider Australia it believes an worldwide tax deal between countries would be the best solution to deal with multinationals. On top of this, the ATO estimates that over 7 billion Australian dollars (4.8 billion US dollars) in taxable sales will now stay onshore as a result of the tough new laws.

BlackBerry shares surge after beating revenue expectations on licensing, security software sales

December 21, 2019

The boost came three months after the enterprise and security software company reported a quarterly earnings miss and a dimmer full-year forecast that prompted investors to push its stock price to lows not seen in years. In the last 90 days, insiders sold 40,555 shares of company stock valued at $5,966,856. But Mr. Chen said Friday that BlackBerry had done a better job converting leads into sales of its device-management products in the most recent quarter.

BMW and Daimler cancel car-sharing service in London

December 21, 2019

In a letter to Montreal users, Car2Go said it is not "in a position to commit to the level of investment necessary to make the North American market successful". While vehicle sharing has been touted as an affordable and more environmentally-friendly alternative to owning a auto, it has yet to gain widespread acceptance and faces strong competition from ride-hailing services like Uber .

Ford details 2021 autonomous auto production amid $1.45bn investment

December 21, 2019

In Dearborn, where the electrified F-150 versions will be built, Ford says that it's planning to assemble battery cells into battery packs for both the F-150 hybrid and the F-150 electric pickup. "The UAW is proud of Ford's commitment to manufacturing in the United States and in MI", said UAW President Rory Gamble. "This is a direct result of the 2019 collective bargaining process, providing additional jobs - and job security - for UAW members in Southeast Michigan", the union said.

Australia fines Volkswagen USD 86 mln over 'dieselgate'

December 21, 2019

The carmaker already settled a separate Australian class action in September for between $87m and $129m, and said in a release it was considering an appeal of the fresh $125m penalty. Volkswagen AG took two raps in Australia on Friday as a court slapped a A$ 125 million ($86 million) fine on the German auto maker as part of a global emissions cheating scandal and a regulator launched a civil lawsuit against a unit.

RBI's auction of govt bonds will be liquidity neutral: DBS

December 21, 2019

Upon reviewing the current liquidity and market scenario, the Reserve Bank of India (RBI) has made a decision to conduct a simultaneous sale and purchase of bonds under its Open Market Operations (OMO) for Rs 10,000 crore each, using the multiple price auction method, to infuse durable liquidity.

Trump repeats call for Fed to lower interest rates, boost quantitive easing

December 21, 2019

The S&P 500 and Nasdaq clawed to new record highs. "Bottom line: the US economy remains on solid footing even as the rest of the world struggles", wrote analysts at Brown Brothers Harriman. The benchmark 10-year U.S. Treasury note fell 11/32 in price to yield 1.9257%. Accordingly, Federal Reserve Chairman Jerome Powell said, on Wednesday this week, that he prefers to let inflation continue to rise and hold higher than the central bank's target before considering any interest rate hikes ...

Facebook acquires cloud gaming outfit PlayGiga

December 21, 2019

The company had partnerships to offer over 300 games as part of cloud gaming packages. It included games like Life Is Strange, Batman Arkham City, and Rise of the Tomb Raider. Wired dubbed the console-free gaming platform a " terrible but tantalising glimpse of the future ". It's unclear whether Facebook's purchase means it's gearing up a gaming platform of its own.

Pelosi invites Trump to deliver State of Union on February 4

December 21, 2019

Pelosi's invitation comes just two days after she resided over impeachment votes in the House. I mean, was Trump "really impeached"? Some progressives have urged Democratic leaders to withhold the articles until Senate Majority Leader Mitch McConnell, a Kentucky Republican, agrees to the parameters for the Senate trial that Democrats have called for , as well as agreeing to bring in firsthand witnesses like acting White House chief of staff Mick Mulvaney to testify.

Germany bans Uber's ride-hailing services

December 21, 2019

Therefore, the judicial ban essentially prohibits the current Uber model in the country, unless it is able to make changes to comply with it. Last week, Uber submitted an appeal against the decision by London's transport regulator to strip the taxi app of its right to operate in one its most important markets.

The world's oldest central bank says it's enough about negative rates

December 20, 2019

The central bank highlighted that "an interest rate of zero percent, in combination with large holdings of government bonds, means that monetary policy will remain expansionary and thereby create the conditions for inflation to remain close to the target".

Carnival cruise ship out of New Orleans involved in collision in Cozumel

December 20, 2019

The scary maritime accident went down Friday morning near the Port of Cozumel, Mexico - the Carnival Glory , on the right, smashed into the pointed bow of the Carnival Legend . "A few minutes later, the cruise director announced that the Carnival Glory had crashed into our ship while docking due to the high winds and rough ocean conditions in Cozumel".

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