Economy / 157

IOS 12 announced with focus on improved performance

June 05, 2018

Apple is including a new AR measurement tool, which takes the form of the Measure app. You can snooze this alert, and turn it off. Apple believes it will help children limit their screen time . The update includes support for multi-player AR games, additional features for the Siri digital assistant, and new ways to search for photos , block notifications and conduct FaceTime video conference calls.

Ferguson Starbucks manager calls company-wide anti-bias training 'thought provoking'

June 05, 2018

Schultz said that for several hours Tuesday afternoon, Starbucks would close stores and offices to discuss how to make Starbucks a place where all people feel welcome. Starbucks said the arrests never should have occurred. The store manager who called police has since left the company. Nelson and Robinson settled with Starbucks for an undisclosed sum and an offer of a free college education.

FTSE opens higher while European markets remain under pressure

June 05, 2018

Europe's main stock markets rose at the open on Thursday, extending a slight recovery after a rout at the start of the week caused by Italy's political upheaval. The UK's FTSE ended down 127%, Germany's Dax down 1.5%, and France's CAC down 1.3%. "Italian banks are now stronger than in the past in terms of capital and are on a positive restructuring trend for both cost-cutting and reduction in non-performing loans", said analysts, including head of equities Diego Franzin at Amundi Asset ...

Starbucks chairman Howard Schultz stepping down

June 05, 2018

Schultz is credited with expanding Starbucks from a Seattle-based coffee chain to an worldwide conglomerate with over 28,000 stores. "I set out to build a company that my father, a blue-collar worker and World War II veteran, never had a chance to work for", said Schultz.

WWDC 18: Watch Apple map out the future of iOS and macOS

June 05, 2018

The new feature will in the Settings app on the newest operating system, iOS 12 , according to sources. Also, iOS 12 now groups notifications by app and topics. This is based on the Workflow app Apple acquired, and the possibilities are limitless. Expect to see Apple announce improvements and new functionality for Siri .

China warns trade deals off if USA imposes tariffs

June 04, 2018

The purchases are partly aimed at shrinking the $375 billion USA goods trade deficit with China. While both sides had separately described discussions as friendly and constructive, the talks did not yield a joint statement or specific details on an agreement made in the previous round of negotiations for China to buy more American farm produce and energy goods.

Google will let its AI contract with the Pentagon expire after backlash

June 04, 2018

Google has remained mum about Project Maven , which reportedly uses machine learning and engineering talent to distinguish people and objects in drone videos for the Defence Department. Google plans to create a list of principles about its use of artificial intelligence for military means . Greene, who pledged yesterday not to renew the project, has also absurdly claimed that the program can not be used for "lethal purposes".

Jordan's King Abdullah expected to ask PM to resign

June 04, 2018

Earlier this year sales tax was increased and bread subsidies were scrapped as part of a plan to cut the country's debt. The protests began on Wednesday, when the mobs flooded the streets of Amman and other cities to demand regime change.

The winning numbers for tonight's €4.5 million Lotto jackpot are here

June 04, 2018

If you bought a LOTTO MAX ticket in Brampton for last night's draw, check your numbers because you could be a victor. Two Maxmillions prizes, worth $333,333.40 each, were sold in the Ottawa and the Brampton area. Next week's draw includes a $60-million jackpot and 52 draws of $1 million for a new OLG record of $112 million in prizing. One lucky person in Ireland has just nabbed themselves quite the bank holiday take-home surprise as they've only gone and won over €4 million in Saturday ...

Price of lunch with Warren Buffett climbs to over $3 million

June 04, 2018

The chance to dine with Warren Buffett costs $3.3 million this year. An anonymous bidder paid more than $3.3 million Friday for a private meal and meaty conversation with the venerable billionaire investor and philanthropist. Note that the lunch with Buffett played at the auction every year since 2000. The winning bidder may hope the lunch leads to an employment opportunity, with hedge manager Ted Weschler having secured a job at Berkshire after paying a combined $5.3m (£3.9m) to secure ...

Germany’s Merkel to work with Italy’s populist new govt

June 04, 2018

Merkel noted that rapid reaction force must act in the wider framework of the European Union. The new power in Rome, made up of two parties that generally oppose the euro, as Reuters writes, took office on Friday considering referendum on or against a denial of the single European currency in the country.

Microsoft passes Google parent Alphabet in market value

June 04, 2018

And all four companies are in the race to become the first U.S. company ever to land a dizzying trillion dollar market cap . "We are innovating across key growth categories of infrastructure, AI, productivity and business applications to deliver differentiated value to customers", Nadella said.

Trans Mountain seeks stricter injunction at BC terminals

June 04, 2018

In response to questions from Postmedia, the National Energy Board said that work can go ahead at the Westridge Marine Terminal, which will undergo an expansion, as well as work at the nearby tunnel portal site and at staging areas, including for pipe storage.

New Italian govt vows to create jobs, deport migrants

June 04, 2018

Immigration is the bugbear of Conte's interior minister, Salvini, the 45-year-old leader of the anti-immigrant, anti-Islam League, who announced Friday he would visit Sicily to see the situation for himself at one of the main landing points for refugees fleeing war, persecution and starvation across North Africa and the Middle East.

Brazil's Temer to name Monteiro permanent Petrobras CEO

June 04, 2018

Temer and several ministers had gone to great lengths to argue that bucking to truckers' demands would not interfere with Petrobras' ability to set prices, a key part of the company's rebuilding plan after a massive corruption scandal. The investigation continues to today, and has led to the jailing of lots of the nation's elite, together with former President Luiz Inacio Lula da Silva and former Petrobras administrators.

Visa issue an update on card problem and it's finally good news

June 04, 2018

Some social media users saw a lighter side to the disruption today, joking about cards being declined in famously cheap stores such as Primark and speculating about the response of the Queen, who is said to never carry cash. Businesses were also affected as this network processes transactions for thousands of small as well as large businesses along with several banks. Ultimately, this latest incident highlights the importance of having an alternative payment method with you at all times.

The US economy reaches its lowest unemployment rate in 18 years

June 04, 2018

The economy has been expanding for nearly nine years , the second-longest streak on record. Elise Gould, a senior economist at the think tank, wrote on its website that the May numbers were more encouraging than in April, when the unemployment rate dropped below 4 percent for the "wrong" reasons - because people were dropping out of the workforce.

Cainiao in pursuit of advanced unmanned logistics networks

June 04, 2018

Significantly reducing the cost of the driverless vehicles, they can be mass-produced, allowing the rapid expansion of unmanned logistics vehicles and streamlining mass market delivery logistics. The company has already chosen the five world's largest cities that will enter the network of logistics hubs. Last year, Alibaba purchased an additional stake in Cainiao Smart Logistics Network for around RMB5.3bn ($807m).

Dog found dead after cross-country Delta flight, family wants answers

June 04, 2018

When the plane landed there, the 8-year-old Alejandro was still alive. The cause of death is still unknown, and Delta told TMZ it is investigating the case. When the family arrived at their destination, the dog was found dead . "We assume full responsibility for this tragedy and express our deepest condolences to the family and are committed to supporting them".

China: Trade deals in jeopardy if USA tariffs are implemented

June 03, 2018

But Beijing warned all the results were premised on "not fighting a trade war". To meet the people's ever-growing needs for a better life and the requirements of high-quality economic development, China is willing to increase imports from other countries, including the United States, which will benefit people of both countries and the rest of the world, it noted.

Google Reportedly Won't Renew Military Artificial Intelligence Contract Due to Backlash

June 03, 2018

Gizmodo doesn't quote Greene directly, though the report points out that Google wouldn't have pursued the Maven contract in today's climate, given the backlash . Google will not seek another contract with the Department of Defense to provide artificial intelligence for drone warfare, according to a Gizmodo report .

Emergency landing as plane passenger's body odour causes others to vomit

June 03, 2018

Passengers were immediately sickened by the disgusting smell, with one saying the offender " smelt like he hadn't washed in weeks " and another calling the odor "unbearable". Tourists escorted out of a plane, landed in the Portuguese city of Faro. "Several passengers got sick and had to puke", van Haut said. The man was taken off the plane and placed on a bus by medical personnel.

Amazon blocks Australia from its U.S. site due to new GST rules

June 03, 2018

Retail giant Amazon will block Australian customers from buying products from its global online stores from July 1, in response to changes to the GST. According to a report from Amazon, its Australian site is offering 60 million products in 23 categories as compared to the half a billion products via its American site.

Deutsche Bank on USA 'troubled' list

June 03, 2018

Deutsche Bank Trust Company America's, the bank's FDIC-insured subsidiary, has been added to the FDIC's "Problem Banks" list, the Journal reported . Deutsche Bank said in a statement that its US banking subsidiary has a "very robust balance sheet" and its parent company is "very well capitalized".

Air India sale attracts zero interest

June 03, 2018

Earlier, Budget passenger carrier IndiGo had said that it will not bid for AI under the "current divestiture plans". While acknowledging that no bids were received for AI, Economic Affairs Secretary Subhash Chandra Garg said here that the government now has to think how to go forward and that it still had several options to consider.

Record $110 million in lottery prizes could be won tonight in Canada

June 03, 2018

The jackpot will be an estimated $60 million jackpot plus an estimated 52 Maxmillions prizes of $1 million each. "We've been spreading the word to all of our customers this morning and I really hope it is a local who is the victor". 2 Encore tickets worth $100,000 each, were sold in Toronto, London and Pembroke. Last night's DAILY GRAND jackpot was won by a ticket sold somewhere in the province, outside both Edmonton and Calgary.

Minimum wage increased by 3.5% to $18.93 an hour

June 03, 2018

President Justice Iain Ross said compared to this time previous year, economic indicators now point more "unequivocally to a healthy national economy and labour market". The federal government hailed the ruling as a "carefully considered and balanced outcome", while Labor said the rise was necessary amid flatlining wages and cost-of-living pressures.

Oil prices ease after sharp gains; eyes on OPEC supply moves

June 03, 2018

USA crude gained $1.62, or 2.4 percent, to $68.35. NEXT month's meeting of the Organization of the Petroleum Exporting Countries (Opec ) is being touted as key to the outlook for crude oil prices, but a strong indication of what's likely will come next week.

Crude retreats on trade concerns as dollar strengthens

June 03, 2018

Commodities were slightly weaker at the end of the week, with traders pushing West Texas Intermediate crude oil futures lower on the back of a stronger USA dollar and rising United States oil output. Brent prices traded as low as US$77.36 a barrel on Friday. Brent, the global benchmark, was down 0.8% to $76.97 a barrel. For the week, WTI was on track for a 1.9 percent fall, adding to last week's near 5 percent decline.

Softbank to invest in GM self-driving cars

June 03, 2018

At the time, the startup didn't have much more than a rough prototype, but self-driving startups were being acquired left and right and GM ended up paying ~$1 billion for Cruise . Its partners include Apple, Foxconn, Sharp, and Saudi Arabia's Public Investment Fund. General Motors' self-driving auto business ( GM Cruise ) has been given a huge vote of confidence by SoftBank Vision Fund .

The FCA takes aim at bank overdrafts in high-cost credit review

June 03, 2018

Other ideas include banning extended warranties, which could save the estimated 400,000 rent-to-own customers up to £7.7 million per year. Becca Cotton, project manager at credit union Eastern Savings and Loans (ESL) in Ipswich, said many of its customers had fallen foul of high-interest loans, with overdraft charges a particular problem.

When are the Northern rail strikes and what services will be affected?

June 03, 2018

Train operator Northern has removed 165 daily services until the end of July to improve reliability amid major disruption. Network Rail , GTR and Northern apologised to passengers, blaming the "sheer number of changes" and late-running engineering projects for a delay in approving the new timetables and making amendments.

Qantas hops into bed with Air New Zealand

June 03, 2018

Air New Zealand has announced a domestic code-sharing deal with Qantas, as its deal with Virgin Australia Holdings comes to an end. "We are confident that our respective customers will enjoy the reciprocal benefits on both sides of the Tasman".

U.S. metals tariffs won't 'break' Canada's economy: Economist

June 02, 2018

Canadian Foreign Minister Chrystia Freeland said in a statement that the tariffs were "imposed under a false pretext of safeguarding USA national security". President Donald Trump and Vice President Mike Pence walk together on their way to greet Harley Davidson executives on the South Lawn of the White House , February 2, 2017.

Sears and Kmart Are Closing 72 More Stores

June 02, 2018

A year ago, the company had a $245 million profit for the first quarter of 2017, but that included $492 million Sears got from selling its Craftsman brand. Big box retailers such as Sears have been hit hard in recent years. On Thursday, it had announced that three stores in the state will close but, none of them are in central Pennsylvania.

Jeep and Ram focus of Fiat Chrysler Automobiles five-year plan

June 02, 2018

A spokeswoman told Automotive News that Chrysler, Dodge and Fiat would not be fully eliminated, but the company has not yet explained how the brands will be maintained through 2022. Fiat's upcoming 2020 launch of a new pure-electric city vehicle, likely to take the form of a new 500e, presages a move towards a growing number of electric cars across all of FCA's brands.

MSCI includes 200-plus Chinese A-shares into Emerging Markets Index

June 02, 2018

Hong Kong Exchanges and Clearing Limited (HKEX) has received regulatory approval to launch MSCI Asia ex Japan (MSCI AxJ) Futures, linked to the MSCI All Country (AC) Asia ex Japan Net Total Return Index . Hong Kong share market closed volatile session higher on Friday, 1 June 2018, as investors' cheered news of China A-shares' long-awaited inclusion in MSCI's benchmark market indexes .

Petronas takes 25% stake in Shell-led Canadian LNG project

June 02, 2018

The investment from Petronas comes as the joint venture, led by Royal Dutch Shell, announced in March that it would commence construction on the project later this year , following previous delays in 2016. The project would consist of two LNG processing units that could produce as much as 6 million tons of super-cooled gas per year each and, with Asian economies among the largest consumers of LNG in the world, Shell's partners at the time said the project would be a valuable asset.

Google won't renew controversial drone project with Pentagon amid employee backlash

June 02, 2018

The initial contract, which is set to expire in 2019, was signed when the company was more focused on pursuing military work, Greene reportedly said , but employee backlash has sparked the decision not to renew. "Google should not be in the business of war". Google in August 2017 hosted defence executives to demonstrate its artificial intelligence capabilities, according to a document shared with Google employees and seen by Reuters.

Trump appears to comment on jobs report before its official release

June 02, 2018

When contacted by CNBC for comment on the controversy, the White House argued that it was OK for Trump to push the job numbers since "he didn't put the numbers out". So, 69 minutes before anybody was supposed to know what was in this morning's jobs report, Trump signaled that it would be good. Kudlow, who also spoke on Fox Business Network, noted that while the White House was wrestling with Congress over legislation to address immigration long-term, "I think you're going to see some ...

Would-be hotel Valet parked the Porsche 911 under crossover Subaru

June 02, 2018

The soft-top Porsche , which retails from $240,000, had to be towed away after the incident. A hotel valet had a lucky escape - but the luxury sports auto he was trying to park did not. "They had to cut part of the auto away and pull the staff member out". According to 7News, the hotel's insurance is expected to cover the damage.

What Led to the Ouster of Spain’s Prime Minister?

June 02, 2018

Rajoy, 63, refused to step down ahead of the vote, saying he had the trust of the people who voted for him at the 2016 election. "It's been an honour - there is none bigger - to have been Spain's prime minister", he told parliament after congratulating Sanchez, with lawmakers from his conservative Popular Party (PP) giving him a standing ovation.

Ticketfly Takes Entire Network Offline Following "Cyber Incident"

June 02, 2018

Still offline as of 5PM ET Thursday, the site, which is owned by Eventbrite , went dark before 6AM ET Thursday with the tweet: "To protect our clients and fans, and to secure the website and related data, we have temporarily taken all Ticketfly systems offline".

‘Don’t be evil’ prevails as Google not renewing controversial military AI project

June 02, 2018

Given Google cofounder Sergey Brin's desire to see militaries work with worldwide companies instead of smaller contractors, we may someday live in a world where Google coordinates warfare just as well as Google Maps does traffic. Google announced in April that it was drafting a set of ethical principles for how its AI will be used, and Greene said the plans will be released next week.

Southwest Passenger Masturbated From Las Vegas To Philadelphia

June 02, 2018

Flight 1250 departed San Francisco International Airport on Wednesday afternoon and was headed to Los Angeles International Airport when the pilot reported a "mechanical difficulty", said San Jose International Airport spokeswoman Rosemary Barnes.

Buffett proposed to invest $3bn in Uber but talks failed

June 02, 2018

Warren Buffett proposed investing $3 billion in Uber Technologies Inc . earlier this year, but the talks fell apart following disagreements over the terms and size of the deal, people familiar with the matter said. At the end of the first quarter Uber had $6.3 billion in cash, along with a $1.5 billion term loan that will be recorded in the second quarter. Asked about whether the talks could resume, Mr Khosrowshahi said it was "always possible" and he would welcome any kind of dialogue ...

San Francisco subpoenas Uber, Lyft

June 02, 2018

They argue Uber and Lyft drivers have an unfair advantage in the city when it comes to fees. The subpoenas seek a complete list of Uber and Lyft drivers that have completed at least one trip in San Francisco from 2015 to the present, documentation showing whether the company classifies each driver as an independent contractor or employee, and proof to justify contractor status.

Giuseppe Conte to be sworn in as Italian prime minister

June 02, 2018

On Friday, Savona was sworn in as the new European affairs minister. As coalition attempts remained in deadlock, calls were made to appoint a technocratic interim government until fresh elections could be held early next year. The disaffection has grown in recent years as hundreds of thousands of migrants have landed on Italy's shores from north Africa, fuelling support for the League which accuses the European Union of abandoning Italy to deal with the influx on its own.

Trump Says He Was 'Looking Forward' to Jobs Report

June 02, 2018

The unemployment rate fell further to 3.8%, having fallen to 3.9% the previous month, bringing the rate to an 18-year low. "The strength of the labor market supports our forecast for the Fed to raise rates three more times this year", said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania.

Trudeau describes cancelling U.S. visit over demands for NAFTA sunset clause

June 02, 2018

She calls the US measures illegal and counterproductive. But he said Vice President Mike Pence told him that he'd have to accept a sunset clause, which would make the trade agreement subject to renegotiation every five years. "I like free trade", he told reporters. "Today's decision belongs entirely to the US administration". The nation's largest private-sector union, Unifor, applauded the retaliatory tariffs.

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