Economy / 47

Enigma (ENG) Settles SEC Charges Over $45M ICO Raise; Pays $500,000 Penalty

February 21, 2020

The United States Securities and Exchange Commission ( SEC ) issued a press release announcing the agreement reached with Enigma. It says that the company should have registered with the SEC as a broker-dealer to launch the ICO . Obviously Enigma has been in converses with the SEC since 2017, and it shows up this understanding will make ready for Enigma to proceed with improvement.

China reports 118 more COVID-19 deaths

February 21, 2020

South Korea has registered 52 new cases of the novel coronavirus , bringing the total number in the country to 156, the Yonhap News Agency reported on Friday citing the Korea Center for Disease Control and Prevention. The mayor of Daegu - South Korea's fourth-biggest city, with a population of over 2.5 million - has advised residents to stay indoors, while access to a major United States base in the area has been restricted.

Congress attacks govt on Donald Trump visit

February 21, 2020

And you know is the largest stadium in the world. According to the tentative plan, the USA president will emplane for Agra at around 15.30 pm IST. US President Donald Trump on Thursday said Prime Minister Narendra Modi , who represents "1.5 billion" Indians, has an advantage on Facebook, while referring to the number of followers the two leaders have on the social networking website.

China cuts benchmark rate as virus shock affects economy

February 21, 2020

Analysts polled by Reuters had predicted new yuan loans would rise to 3.00 trillion yuan in January, up from 1.14 trillion yuan in the previous month and compared with the prior record 3.23 trillion yuan a year earlier. Weakness in the Chinese yuan helped push the Aussie lower after the People's Bank of China cut benchmark interest rates. The innate resilience of the Chinese economy alongside the use of counter-cyclical adjustments will help the country maintain stable growth despite the ...

Morgan Stanley buying E-Trade for about $13 billion

February 20, 2020

But the hook-up still leaves E-Trade smaller than Fidelity, Vanguard and Schwab in terms of assets and likely pressure smaller brokerage firms to partner up as the business of investment management continues to consolidate. The company offers financial services to small savers and claims five million clients with assets valued at $360 billion. E-Trade's US stock plan business will be combined with Shareworks by Morgan Stanley, a provider of public stock plan administration and private cap ...

Kickstarter employees win historic union vote for white-collar tech workers

February 20, 2020

Kickstarter United wrote . "And to all tech and creative workers looking to fight for your rights, this is only just the beginning". The conservative website accused Kickstarter of violating its terms of service to not incite violence by promoting the comic book.

Euro falls towards key $1.08 level, bleak German investor survey piles pressure

February 20, 2020

The latest survey by the Leipzins Center for European Economic Research (ZEW) reported that the largest economy in Europe is suffering from the ongoing Corona virus crisis in China, where the virus led to a slowdown in the current situation in addition to future components for the next six months.

Mike Bloomberg, Bernie Sanders main targets at Vegas Democrats' debate

February 20, 2020

There are clear differences in approaches to fix America's often dysfunctional healthcare system, however, with Sanders' plan for universal coverage provided for by the government-run Medicare derided as unrealistic and a vote loser by both Buttigieg and Bloomberg.

[Dow, S&P close decrease but Nasdaq edges up right after Apple warning]

February 20, 2020

Apple shares were down 2.28% at the bell after the firm told investors on Monday evening that it no longer expected to meet its quarterly revenue guidance, pointing to weakened production levels and lower demand in China in the wake of the Wuhan coronavirus outbreak.

USA slaps sanctions on Russia's Rosneft

February 20, 2020

Russian oil giant Rosneft's investments and commercial activities in Venezuela are legal, says state energy firm PDVSA, pledging to provide the necessary support for the producer's "operational and commercial continuity". The designation of Rosneft Trading SA means its USA assets can be blocked and also that USA entities and nationals will be prohibited from doing business with the company.

Boeing finds a new issue with 737 Max, debris in fuel tanks

February 19, 2020

A message to staff from vice president Mark Jenks said debris was found in several planes in storage. While investigators examining the Max accidents have not pointed to production problems at the assembly plant near Seattle, Boeing has faced concerns about debris left in other finished planes including the 787 Dreamliner, which is built in SC.

Via Rail says service will resume in southwestern Ontario starting Thursday morning

February 19, 2020

VIA Rail says as of today, 532 trains have been cancelled because of the blockades, affecting more than 103,000 passengers. Via Rail has announced a partial resumption of train traffic on the corridor between Ottawa, Montréal and Québec City Thursday morning but nearly all of its other service remains cancelled, including trips from the capital to Toronto halted by a blockade in the Belleville area.

Why inflation rose to 12.13% in Jan 2020, says NBS

February 19, 2020

Again in December, inflation increased by 11.98, higher than the 11.85 percent recorded in November, with composite food index rising by 14.67 percent. On a month-on-month basis, the urban index rose by 0.92% in January 2020, up from 0.9% recorded in the previous month, while the rural index also rose by 0.83% in January 2020, from 0.82% recorded in December 2019.

Oil prices steady as coronavirus-related demand concerns weigh

February 19, 2020

The amount of new coronavirus infections in mainland China fell underneath 2,000 on Tuesday for the initially time considering the fact that January, Chinese health officers explained, even though world-wide specialists warn it is way too early to say the outbreak is staying contained.

UK budget on March 11 as planned: new finance minister

February 19, 2020

Mr Sunak, previously the Treasury Chief Secretary, was catapulted into the top job after Mr Javid dramatically quit in last week's Cabinet reshuffle. During the weekend, UK Transport Secretary Grant Shapps said Budget plans were "well advanced", but Sunak "may want time".

Binance CEO Urges 'Unfairly Affected' Users to Contact the Exchange

February 19, 2020

The Binance Cloud announcement additionally explains {that a} "first major digital asset trading platform", made doable with the assistance of this new turnkey service, will probably be launched in the beginning of this month March 2020.

Plane battles storm winds as it lands at London`s Heathrow airport

February 19, 2020

All the flights affected on Monday were operated by British Airways , the largest airline at the airport. She said: "Computer systems down at Heathrow". Departing passengers reported "pandemonium" in terminals, with workers using pens and whiteboards to list departure gates for flights as information screens were rendered useless.

BHP payout up as H1 profit lifts 29%

February 19, 2020

The world's biggest diversified miner announced in a statement on Tuesday morning that its board approved an interim dividend of US$3.3 billion (R49.7 billion) or 65 United States cents per share, which is above the company's 50% minimum dividend payout policy.

Ontario probing licence plate defect weeks after new models were released

February 18, 2020

Sgt. Steve Koopman from Kingston Police snapped a pic of a auto with the new plates and shared it in a social media post, which has since been shared thousands of times. The government said it had resolved the problem and would now guarantee the plates for life. "You have to be fairly close to read them with precision", said Patterson.

Brexit negotiator says United Kingdom must be able to set its own laws

February 18, 2020

Speaking in Brussels on Thursday, Mr Frost said the United Kingdom "must have the ability to set laws that suit us" and not be subject to rulings from European courts. David Frost's speech is either a real warning that a breakdown is very possibly before the end of the year, or an attempt at inflating the sovereignty issue to such an extent that if the European Union take a pragmatic approach it will be presented by the United Kingdom as a victory.

Jeff Bezos Just Pledged $10 Billion to Fight the Climate Crisis

February 18, 2020

So far as I can tell, that Instagram post is the only information that's publicly available about the new fund or Bezos's planned climate change philanthropy. Bezos' fund - called the Bezos Earth Fund - is set to begin distributing the grants over the summer. The Bezos Earth Fund will start issuing grants this summer.

Japan Looks Like It's Headed for a Recession

February 18, 2020

Japan's economy shrank at the fastest pace in six years in the December quarter as a sales tax hike and soft global demand hurt consumption and capital expenditure, keeping policymakers under pressure to prop up growth with additional stimulus.

HSBC to slash 35,000 jobs

February 18, 2020

Mr Quinn said he and his team had begun implementing a plan to "increase returns for investors, create the capacity for future investment, and build a platform for sustainable growth". HSBC reported a RoTE of 8.4% for previous year, down from 8.6% in 2018. It also plans to merge its private banking unit, which provides services to the wealthy, with its retail bank unit.

UK Chancellor Sajid Javid quits as Boris Johnson reshuffles cabinet

February 18, 2020

But the proposed changes would mean everyone would get 20 per cent pension tax relief. Javid's reported resignation on Thursday came over what a political editor claimed was a disagreement over his advisers, throwing Johnson's plans off kilter.

Warren Buffett's investment firm unloads more than $800m of Apple shares

February 18, 2020

Next Saturday we'll see the true state of the company's performance and what is expected to be a record profit (because USA accounting rules say companies must take paper gains and losses into the statutory profit lines in their accounts). Many smaller chains have fared worse, including Earth Fare, Fairway and Lucky's, which have all sought bankruptcy protection this year. Kroger had invested in Lucky's.

Jeff Bezos announced a $10 billion fund to fight climate change

February 17, 2020

Bezos is giving $10 billion to start and will begin issuing grants this summer, according to the post. "It's going to take collective action from big companies, small companies, nation states, global organizations, and individuals", he added.

VA. Democrats push to ban assault weapons fails Senate vote

February 17, 2020

The proposal was part of a package of gun control measures sought by Northam and fiercely opposed by gun rights supporters. Why it matters: Democrats flipped the Virginia House and Senate previous year after campaigning hard on gun control.

Jeff Bezos Shopping for $165 Million Property, a California File

February 17, 2020

According to CNN, this isn't the Amazon founder's only Los Angeles purchase. Bezos has been searching for a home for the past year, according to the Post. Jeff Bezos is reportedly the new owner of a piece of Hollywood history. Bezos' new home was built in the 1930s by Jack L. Warner, cofounder of the Warner Bros.

Pier 1 files for bankruptcy, hopes to sell company

February 17, 2020

Pier 1 expects the deadline for bids will be March 23. The company's CEO Robert Riesbeck released a statement saying that the company, based in Fort Worth, Texas, reached a plan with lenders to provide it with $256 million. Following court approval, the company expects that funding, combined with its own cash, to provide enough liquidity to support reduced operations and its sale process.

Alstom reaches preliminary deal to buy Bombardier train unit, report says

February 17, 2020

French train maker Alstom said Monday Feb. 17, 2020, that it is in talks to possibly take over the train business of Bombardier, the Canadian aerospace and engineering company. The Caisse has not yet replied to a request for comment from BNN Bloomberg. Alstom has made only a brief statement, but it does suggest that an outright purchase is contemplated, rather than a merger.

Jupiter jumps on Merian acquisition, 17 Feb 2020 11:06

February 17, 2020

Jupiter's management said the deal 'reinforces Jupiter's core United Kingdom franchise and extends capabilities into attractive product gaps'. On Monday the FTSE 250 manager confirmed reports over the weekend that it would be acquiring Merian in a deal worth £370m ($482m, €444m) paid through the issue of new shares to Merian shareholders.

Tesla ordered by German court to stop cutting down trees for Gigafactory

February 17, 2020

The court injunction is temporary, and there'll be further hearings within the next few weeks to decide whether the factory can go ahead. The U.S. electric auto maker announced plans last November to build a Gigafactory in Gruenheide in the eastern state of Brandenburg.

Stocks wobble in early trading, but head for weekly gains

February 17, 2020

The Dow dropped 25.23 points, or 0.1%, to 29,398.08. The three major stock averages headed into the United States holiday weekend having posted their second consecutive weekly advances. The price of US crude oil closed 1.2% higher and notched its first weekly gain in six weeks. Expedia got an 11.8% boost from its earnings while Roku hiked 7.8% and Newell Brands 3%.

Storm Dennis: Met Office issues red warning for south Wales

February 17, 2020

Major incidents were declared by emergency services in south Wales and parts of England, with the Environment Agency saying it had issued a record number of flood warnings. Emergency service officers evacuate a man from a flooded area of Nantgarw village, near Cardiff, South Wales, Britain, on February 16, 2020, after Storm Dennis hit the area last night, bringing torrential rains, floods and landslides.

End of iconic auto brand in NZ

February 17, 2020

After closing the company's local manufacturing operations in 2017, GM has taken the "difficult" decision to retire the brand from sales in both Australia and New Zealand. The company will retain its fleet of service and mechanical staff in order to honour service and warranty commitments on new cars sold up until the final shutdown.

Delta Air Lines to go "fully carbon neutral" from March, says CEO

February 17, 2020

The Atlanta-based airline is paying each of its 90,000 employees a profit-sharing bonus of about two months' salary on Friday, Chief Executive Officer Ed Bastian said at a Cobb Chamber of Commerce event last month. "When customers choose to fly Delta, they should feel they're making a statement about taking care of our planet", Bastian continued. However, their carbon strategy will incorporate more than just emissions from their aircraft.

Massachusetts Attorney General: Juul Bought Ads on Nickelodeon, Homework Help Websites

February 17, 2020

The complaint alleged that JUUL intentionally targeted underage users, creating a full-fledged nicotine and vaping addiction in the process. According to the lawsuit, the e-cigarette company hired young-looking models, photographed female models in "sexually provocative" poses, and purchased advertising space for these images on countless websites frequented by underage consumers, including cartoonnetwork.com, seventeen .com, and Nickelodeon's nick.com and nickjr.com - sites where ...

Airbus to purchase rest of Bombardier bet in A220 passenger jet system

February 16, 2020

And there may be more sell-offs to come, as the Quebec-based company continues to look at "strategic alternatives" that will help it accelerate the payment of its significant debt load, which has ballooned to more than US$9 billion. As part of this transaction, Airbus, via its wholly-owned subsidiary Stelia Aerospace, has also acquired the A220 and A330 work package production capabilities from Bombardier at Saint-Laurent in Quebec.

Wendy’s employees fired after video shows worker bathing in kitchen sink

February 16, 2020

The video that has surfaced online was reportedly shared on Facebook by an individual named Connor Somerfield. "It feels like a hot tub", the bather says as he scrubs himself with the soapy water. The spokesperson noted the Greenville Wendy's location was re-opened Tuesday after conditions were deemed safe and clean for employees and customers.

Court rules Apple must pay California workers during bag checks

February 16, 2020

The decision means that the tech giant will have to pay millions of dollars to more than 12,000 hourly workers at California retail stores who fall under the mandatory bag-search policy. Apple had argued that employees could choose to leave their iPhones at home. The workers stated that on busy days, they may find yourself ready near 45 minutes for a supervisor or safety officer to be accessible to conduct the search, per the corporate rule.

China Coronavirus Death Toll Rises to 1,524

February 15, 2020

New coronavirus cases outside Hubei Province have decreased from almost 900 on February 3 to less than 300 on February 13. The Philippines has lifted a travel ban that was imposed on visitors from Taiwan, and will evaluate other restrictions including those on Macau, government officials said on Friday.

Coronavirus causes Hong Kong and Singapore legs to be postponed

February 15, 2020

Kenya's preparation for the 2020 Olympics has been disrupted following the rescheduling of the Hong Kong and Singapore tournaments, which have been moved from April to October over the coronavirus. Last month, officials in Hong Kong said they had "no plans" to cancel the event which is part of both the World Rugby Sevens Series and the World Rugby Women's Sevens Series.

Bernie Sanders speaks after New Hampshire primary

February 15, 2020

Sanders defeated Pete Buttigieg in the New Hampshire primary on Tuesday, making him the new national frontrunner for the Democratic nomination. Asked Wednesday if he agreed with Blankfein's comment that a President Sanders would "ruin" the economy, Mnuchin, in comments to journalists after testifying in Congress, said , "I think Lloyd Blankfein couldn't be more right on that".

Air Italy enters liquidation in tough trading conditions

February 15, 2020

Qatar Airways said it was unable to bail out Air Italy due to European Union laws which limit foreign ownership of companies to a minority stake. Flights booked after that point will be refunded. Air Italy started operating in March 2018 after Qatar Airways bought a 49% stake in a predecessor, with the Aga Khan's Alisarda SpA owning 51%.

Vodafone Idea shares tank almost 19 per cent

February 15, 2020

The Supreme Court's order was followed by direction from the Department of Telecoms to pay the dues by the end of Friday. "How can a government desk officer stay the SC order?" the bench asked. Airtel owes Rs 35,586 crore while Tata Teleservices - which has since been sold to Airtel - has to pay Rs 13,823 crore. In all, 15 telecom entities owe the government Rs 1.47 lakh crore - Rs 92,642 crore in unpaid licence fees and another Rs 55,054 crore in outstanding spectrum usage charges, ...

Tesla prices secondary stock offering at discounted $767 a share

February 15, 2020

Tesla will sell about US$2 billion of common stock to help fund capital expenditures, the electric-vehicle maker said in the filing . Just last month, Musk said quote: "it doesn't make sense to raise money". Tesla's stock is in Ludicrous Mode - and the company just cashed in. "He is smart to grab cash by selling stock at a sky-high price he might not see six months from now".

German economy stagnates as eurozone growth reaches 7-year low

February 15, 2020

In the wake of the outbreak, Citigroup cut its 2020 forecasts for global, eurozone and United Kingdom growth by 0.2 percentage points. Joshua Mahony, senior market analyst at online trading firm IG, said: "The German economy has gone from being the bastion of eurozone growth to perhaps the greatest hinderance, with the industrial powerhouse continuing to suffer under the wrath of Donald Trump's combative approach to global trade".

Oil prices steady but set for weekly gain on supply cut optimism

February 15, 2020

However, market sentiment improved as factories in China started to reopen and the government eased its monetary policy. Global airlines have also halted flights to China. "Lower oil prices, if sustained, are also bad news for highly responsive United States oil companies, but we are unlikely to see an impact on output growth until later in the year", the agency said.

Wichita Eagle parent company files for bankruptcy

February 14, 2020

McClatchy, the publisher of the Miami Herald , The Kansas City Star and dozens of other newspapers, has filed for bankruptcy protection as it struggles to pay off debt while revenue shrinks because more readers and advertisers are going online.

Amazon wins injunction in U.S. government contract fight

February 14, 2020

The judge's injunction came after Amazon filed a motion against Microsoft last month. Microsoft in October won the Pentagon's Joint Enterprise Defense Infrastructure, or JEDI , cloud contract, estimated to be worth as much as $10 billion over a decade.

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