Economy / 53

Ikea to pay $46M to family of child killed by dresser

January 08, 2020

The largest recall in the company's history followed a public information campaign by Ikea and the Consumer Product Safety Commission urging consumers to anchor Ikea dressers to a wall. IKEA Australia has confirmed to 9News.com.au the dresser involved in the case is not available for sale in Australia. Ikea has agreed to pay a family $46m (£35m) in the biggest wrongful death settlement in United States history after a child was killed by falling drawers.

North Slope oil prices spike as tensions with Iran mount

January 08, 2020

Basically, no spilled oil , no rally. The global oil benchmark, Brent crude , jumped 1.5 per cent to as high as $70.74 per barrel, its highest price since September, before easing to $69.17 per barrel as of 5.10pm Nigerian time. Crude markets have a comfortable supply cushion should there be a disruption. Instead there was much confusion when the USA military wrote to Iraq on Monday saying it would pull out of the country, a letter seen by Reuters showed.

Falling imports push United States trade deficit to three-year low

January 07, 2020

That deal is scheduled to be signed on January 15 in Washington, but business executives are braced for more trade turbulence if the phase two talks covering more contentious US demands do not go well. Economists had expected a deficit of $1.15 billion, according to financial markets data firm Refinitiv. November's trade deficit was the lowest level since October 2016.

Govt's advance estimate pegs GDP growth at 5% for FY20

January 07, 2020

India's core sector contracted for the fourth consecutive month in November but the pace of contraction slowed to 1.5 percent from 5.8 percent in October led by growth in output of fertilizer, cement and refinery products, raising expectations of industrial production moving into the positive territory.

France, US have 15 days to settle digital tax dispute

January 07, 2020

On Monday, Mr Le Maire urged Washington to renounce the threatened sanctions and warned of possible European Union retaliation. Part of the European response could include counter-tariffs affecting United States goods for a similar value.

China trade more important for markets than US-Iran conflict

January 07, 2020

While the closure of the Strait of Hormuz remains a very unlikely event, the deterioration in Iraq bears supply risks, ' said Norbert Rucker, head of economics at Swiss bank Julius Baer. "In the short term, the incident may lead to the two sides launching attacks against each other in the Middle East, or even Europe", he said. On Monday, the 6th of January 2019, both Brent and United States crude oil futures' prices ended up the day with little changes after mounting more than 3 per ...

Iran: Soleimani's daughter warns the USA of retaliation at funeral speech

January 07, 2020

Hossein Salami made the pledge before a crowd of thousands gathered in a central square in Kerman, the hometown of the slain Gen. Qassem Soleimani . Oil prices often rise during periods of geopolitical tensions, especially in the Middle East, amid worries maritime transit could be disrupted in the Strait of Hormuz, the world's most important oil chokepoint.

Another major US dairy, Borden, seeks bankruptcy protection

January 07, 2020

Over the past 163 years, we have earned the distinction of being one of the most well-recognized and reputable national brands. Sarsam cited the rising costs of milk over the past 18 months, current challenges in the dairy industry and a need to reduce current debt loads as factors in the decision.

Long-Awaited 2020 Fisker Ocean To Start At Just $37,499

January 07, 2020

It was then shown to media and social media influencers on the CES show floor. On Sunday, Fisker kicked off the week by unveiling the electric luxury Ocean SUV, a handful of the vehicle's specs, and its upcoming pricing and availability after teasing it since early previous year.

Passenger films plane losing wheel during takeoff: '2020 starting off well'

January 06, 2020

A passenger on an Air Canada Express flight recorded the moment a wheel flew off the plane as it lifted off at the Montreal-Trudeau International Airport on January 3. The airplane, a Dash 8-300 model, normally has six wheels: two on each of the three landing gears, located on the left, right, and front of the plane.

Bosch announces a Virtual Visor that will shade your eyes while driving

January 06, 2020

The system uses facial recognition and detection to find the controller within the image captured by the camera and to determine reference points on the face to identify shadows. Eventually, Virtual Visor got the green light for production. Ryan Todd (L) and Jason Zink (R) work with the prototype of the Virtual Visor they co-created at Robert Bosch.

Human rights expert says Google pushed him out after China criticism

January 06, 2020

Google's CEO Sundar Pichai (Now the Alphabet CEO) told United States regulators previous year that Google had ano plans' to launch the censored search engine project "right now". At this point, a colleague was suddenly re-assigned to lead the policy team discussions for Dragonfly. LaJeunesse, the former adviser to former California Gov.

New vehicle registrations rise in December

January 06, 2020

There was a 144% jump in electric vehicle sales, meaning they took a 1.6% market share in 2019, while hybrids were up by 17.1% for a 4.2% overall share. "That's why we need a return of confidence and strong economic conditions". Mr Hawes warned that the falling market share of diesel cars was making it harder for manufacturers to meet targets on cutting CO2.

Researchers develop most efficient lithium-sulphur battery to date

January 06, 2020

Forbes reports that on December 26, Tesla in partnership with physicists from Canada's Dalhousie University, filed a patent for a new lithium-ion battery technology claimed to easily outperform the current lithium-ion batteries used commonly by most current EVs.

EU's von der Leyen to meet UK's Johnson in London

January 06, 2020

We believe that our voice is important - both in advocating the European Union pro perspective and restoring the balance between the right extremes of much of the UK's national press. And the upper house has made an application considering the government's intention not to request an extension. An explanatory assertion on Labour's modification reads: 'This new clause would restore the function for Parliament in deciding whether or not to increase transition to keep away from a WTO (World ...

The most on-time airlines in the world

January 06, 2020

Dutch aviation consulting firm To70 said there were 86 accidents involving large commercial planes - including eight fatal incidents - resulting in 257 fatalities a year ago. Delta Air Lines tops the list as the most on-time airline in North America, according to the annual On-Time Performance (OTP) Review released by Cirium , and its collection of travel data and analytics for 2019.

Tesla Delivers a Record 367,500 Vehicles in 2019

January 06, 2020

In the last quarter of 2019, Tesla delivered a record 112,000 vehicles globally, the company said on Friday. The Model 3 is Tesla's most affordable auto, with lower-range versions available starting at US$35,000. The total also included 19,450 pricier Model S sedans and Model X SUVs. In 2019, however, Tesla delivered and proved any number of skeptics wrong. The company delivered just 63,000 vehicles in the first quarter, almost a one-third drop from the previous period.

Weakened sales: CEO Tim Cook sees pay ebb along with Apple performance

January 06, 2020

In 2018, Cook reported $15.7 million in total compensation, which included $12 million in non-equity incentive plan compensation. Cook holds unvested Apple shares worth nearly $400-million, according to Apple's filing . Apple declined to comment beyond the proxy. Additionally, he received over $800,000 in other compensation. "For safety and efficiency reasons, the board requires Mr Cook to use private aircraft for all business and personal travel", the filing said .

Northern responds to uncertain future of the franchise

January 06, 2020

The director of the Northern Powerhouse Partnership, Henri Murison, said the transport secretary's comments "reflect the position as it has stood for some time now". This could lead to Northern's service being brought under government control. The most significant of these is the ongoing, late delivery of major infrastructure upgrades.

Gasoline and diesel prices in the Middle East continue to rise

January 06, 2020

Petrol and diesel prices witnessed a minor surge and stood at Rs 75.45 per litre and Rs 68.40 per litre respectively in Delhi and across major cities of the country on Saturday. blamed Iran for strikes in Abqaiq and Khurais in Saudi Arabia , the largest crude-processing plant and oil field in the world. "Nowhere in the world has seen any supply being stopped because of U.S.

Single tuna sells for €1.6m at auction in Japan

January 06, 2020

This year's bidding, which started at 5:10 a.m., marked the first under Reiwa, the era for Emperor Naruhito, who was enthroned in May. Kiyomura Corp., which operates the Sushizanmai chain, placed a winning bid of 193.2 million yen ($1.79 million) for a bluefin tuna weighing 276 kilograms.

New cannabis products may not eat into black market, experts say

January 06, 2020

Cannabis tea will be the only beverage made available from the OCS beginning next week. In terms of pricing, disposable vapes will range from $29 to $139 and for chocolate bars and chews, the cost will start at $7.50. "We suspect that over the first half of 2020 there will be a lot more new products that come to market but for the products that we got today, we expect that in February and March that supply will rapidly improve", Lobo said.

Federal Reserve Saw Declining Recession Risk in December

January 05, 2020

Since then, the central bank has provided roughly 50 billion USA dollars a day in overnight and short-term credit to banks through repurchase agreements, or repo deals. The minutes showed a few Fed officials were anxious that the Fed might encourage excessive risk taking in financial markets by holding rates at historically low levels for longer periods of time.

Aeroflot most punctual airline, according to new global survey

January 05, 2020

The report also lists WestJet at No. 15 among low-priced carriers worldwide with 79 per cent of its flights arriving on-time. When looking at the category called "mega-airlines", Air Canada was ranked 20th, with its flights on time 66 percent of the time.

Here’s Why You Shouldn’t Abbreviate The Date In 2020 When Signing Documents

January 05, 2020

Police have warned that anyone signing important documents or checks with an abbreviation of 2020, i.e. "20", could put themselves at risk of fraud. Or a scammer could change a date to a later year - from 2020 to 2021, for example - potentially making an uncashed check active again next year, Rheingold told the newspaper.

General Soleimani death, ‘act of war’, says Iranian ambassador to UN

January 04, 2020

The US has already started a war against Iran, not just an economic war but something beyond that by assassinating one of our top generals. "There will be harsh revenge". In the stern message, the US President also boasted about the unrivalled power of the US military and further stoked tension with Tehran by stating the US would continue to "take whatever action is necessary".

Lotto Max offering record breaking $70 million jackpot tonight

January 04, 2020

The draw wasn't a total bust. A ticket purchased in New Brunswick is going to make one lucky Canadian $500,000 richer, but the largest prize in the nation's lottery history remains up for grabs. A previous record jackpot of $65 million was offered in June and October of past year. Friday marks the first time the grand prize has hit its new upper limit of $70 million.

Travelex forced to take down website after cyber-attack

January 04, 2020

At the time of writing, travelex.co.uk was still offline and showing a runtime error message. Travelex, a major worldwide foreign currency exchange, has confirmed it has suspended some services after it was hit by malware on December 31.

China Suspends British Stock Link Plans Over Political Stress

January 04, 2020

At issue is Britain's stance over the Hong Kong protests, as well as remarks over the detention of a now former staff member at the United Kingdom consulate in Hong Kong. SDIC Power and China Pacific Insurance did not respond to requests for comment. Major Chinese stock indices ended higher Thursday, with the benchmark Shanghai Composite Index up 1.15 percent at 3,085.2 points.

BC Assessment values evacuated Seawatch homes at two dollars

January 04, 2020

BC Assessment says owners of more than 1,040,000 properties throughout the Lower Mainland can expect to receive their 2020 assessment notices, which reflect market value as of July 1, 2019. The total value of real estate in B.C. - there were 2,091,135 properties on this year's roll - is over $1.94 trillion, a decrease of 2.5 per cent from last year.

WTI jumps to highest since May on US-Iran tensions

January 04, 2020

The price of crude oil spiked about 4 percent overnight. In September, oil prices increased by 14% after coordinated attacks were carried out on Saudi Arabia's oil facilities which cut off 5% of global oil supplies. "There's a reason, finally, for caution in the stock market", says Greg Valliere, chief us policy strategist at AGF Investments, adding that "global oil markets will be volatile for weeks to come".

Oil prices up 3 pct with tensions in Middle East

January 04, 2020

Iraqi Popular Mobilisation Forces (PMF) confirmed that Abu Mahdi al-Muhandis, deputy head of the force, was also among those "martyred by an American strike". The broader Nifty50 index slipped to 12,228.70 by 52.60 points. The 10 year bond yield was trading at 6.497% from its previous close of 6.503%. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.3429 and for rupee/euro at 79.9392.

Airstrike targetting Iraq militia convoy kills six

January 04, 2020

The United States is sending nearly 3,000 soldiers to the Middle East as a precaution amid rising threats to American forces in the region, USA officials said on Friday. Attacks on USA forces in Iraq have been pinned on Shiite militias backed by Soleimani. Iran has vowed "harsh revenge" following the death of the top military general.

Manufacturing Activity Falls to Lowest Level in Decade

January 04, 2020

Why it matters: It shows worsening conditions for the US manufacturing sector, which has been in contraction for five straight months, and reignites concerns about the trade war's impact on the economy. Of the 18 manufacturing industries, three reported growth in December: food, beverage & tobacco products; miscellaneous manufacturing; and computer & electronic products.

US jobless claims edge lower but trend points to uptick in filings

January 03, 2020

But the report is worth a deeper dive. The four-week average, a less-volatile measure, edged up somewhat to 233,250. Besides, the previous week's average was revised up from 228,000 to 228,500, said the bureau. Thursday's claims report also showed the number of people receiving benefits after an initial week of aid rose 5,000 to 1.73 million for the week ended December 21.

Half a billion animals potentially killed in Australia wildfires

January 03, 2020

A state of emergency was declared in NSW for the third time this fire season, and in Victoria for the first time ever. Canberra, Jan 3 (Prensa Latina) The death toll due to the widespread bushfires in southeastern Australia rose to 12, while the armed forces are now aiding efforts to extinguish the flames and rescue those affected.

Amazon accused of threatening to fire climate activists

January 03, 2020

According to a Bloomberg report citing an Amazon (NASDAQ: AMZN ) spokesperson said two employees were threatened with termination and four others were reprimanded in meetings because they were in violation of company policies on workers speaking out to the press and on social media.

Rupee plunges against US dollar amid spike in crude prices

January 03, 2020

Crude oil for February delivery was up by Rs 172, or 3.96 per cent, at Rs 4,514 per barrel with an open interest of 3,977 lots. . A fall in the United States crude inventories last week also supported prices. Meanwhile, Brent crude, the worldwide benchmark, edged up 2.96 per cent to $68.21 per barrel in NY. About 80% of the crude oil that travels through the Strait of Hormuz goes to countries in Asia, including China, Japan, India and South Korea.

Oil prices surge, stocks slip after US kills Iran general

January 03, 2020

Air Canada fell $2.26, or 4.4%, the most on the TSX, to $47.79, and the second biggest decliner was First Quantum Minerals, down 33 cents, or 2.5%, to $12.95. Bonds also weakened, with the yield on the benchmark 2026 paper up 5.5 basis points to 8.265%. "However, market reaction may subside if there is no retaliatory move by Iran or no major exchange of words between Tehran and Washington".

Genesis GV80 is the first SUV for the brand

January 03, 2020

At launch, there will be a 3.0-liter V6 turbo diesel producing 274 hp (205 kW / 278 PS) and 434 lb-ft (589 Nm) paired to an 8-speed automatic for a 0-62 miles per hour (0-100 km/h) in 6.8 seconds. Signature Genesis design elements are immediately visible on GV80, from every vantage point. The front is dominated by the company's signature "crest" grille flanked by a quad-headlight setup.

Tencent to take 10% stake in Vivendi's music arm, with more likely

January 03, 2020

The two companies also intend to enter into a second agreement that gives Tencent an option to acquire a minority equity stake in UMG's Greater China business. Reuters reported earlier this month that GIC and other sovereign wealth funds were in talks to participate in the deal to help Tencent finance one of the biggest investments by a Chinese company into a major European media business.

Tesla Delivers First Chinese-Made Model 3 Electric Cars

January 03, 2020

The shares were trading 1% higher at US$422.40 in pre-market NY dealings on Thursday. Tesla held an event early this week to hand over the earliest Model 3s to be produced at Gigafactory 3 to 15 Tesla employees who had purchased the vehicle.

Qantas named safest airline in the world, SIA comes in 6th

January 03, 2020

EVA consistently earns high marks from AirlineRatings for quality service, in addition to safety, and ranks eighth in the website's World's Top-20 Airlines for 2020. "It is the way the flight crew handles incidents that determines a good airline from an unsafe one". Making up the rest of the top ten are Air Arabia, HK Express, IndiGo, Volaris, Vueling, Westjet and Wizz.

US Senate returns amid standoff over Trump's impeachment trial

January 03, 2020

Trump faces a trial in the Senate on two articles of impeachment approved by the House charging Trump with having abused the powers of the presidency and having obstructed Congress for withholding the aid in order to pressure Ukrainian President Volodymyr Zelensky to investigate Democratic presidential candidate Joe Biden and his son, Hunter Biden, who worked for a Ukrainian gas company for five years.

Canadian manufacturing expands at slowest pace in four months

January 03, 2020

This marked pace of the Indian manufacturing output in December was the joint fastest in ten months, IHS Markit said. Four of the five sub-components of the PMI increased in December, while suppliers' delivery times was unchanged from the preceding survey period.

China lowers banks' reserve ratio, more cuts ahead

January 03, 2020

On December 23, Chinese Premier Li Keqiang stressed the need to foster a new economy and new growth engines by encouraging entrepreneurship and innovation. Growth has cooled from 6.8 percent in 2017 to 6 percent in the third quarter of 2019, the slowest since the early 1990s. "Stock prices can still climb higher, but we don't expect results anywhere near 2019".

Japan Airlines to give away 50000 free tickets next year

January 03, 2020

To win the tickets, travellers must be worldwide and registered with Japan Airlines' Mileage Bank frequent flyer program. Japan Airlines will be releasing more details about the free airline tickets in January 2020. "The twist is that even you don't know where you are headed until a few days after you apply". The Tokyo Olympics will run from July 24 through August 9 and the following Paralympics will last through September 6.

Futures rise on China stimulus, trade optimism

January 02, 2020

Despite seeing the reading tick marginally higher than the first estimate, the worry is that we have not seen the post-election data provide any decent improvement in terms of activity and business in the sector. Stocks were underpinned after U.S. President Donald Trump said that a Phase One trade deal with China will be signed on January 15, although he did not release any details of the expected signing ceremony.

South Dakota Gas Prices End 2019 Higher

January 02, 2020

Boston is among the country's largest metro areas that could see gas hit an average of $3 per gallon this year, according to a new report from GasBuddy . As of Wednesday, the average price per gallon was $2.45 across Florida, $2.50 in Escambia County and $2.43 in Cantonment. The drop ends a streak of seven consecutive weeks of falling pump prices.

Uber, Postmates sue to block California gig worker law

January 02, 2020

In a savvy legal move that was inevitable, Uber Technologies and Postmates filed suit in the U.S. District Court for the Central District of California in Los Angeles, saying that new state law known as AB-5 "is an irrational and unconstitutional statute created to target and stifle workers and companies in the on-demand economy".

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