Economy / 102

President Trump planning on 'straightening out unfair trade deals' at G7 summit

June 09, 2018

Fellow members of what was then the G8 suspended Russian Federation after it took control of Crimea from Ukraine. He plans to leave the summit four hours earlier than originally planned to fly to Singapore to meet with North Korean leader Kim Jong Un , the White House said.

Today's Hot Stock Under Review - Baxter International Inc., (NYSE: BAX)

June 09, 2018

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Nikkei says iPhone orders down 20% in 2018. But, meh

June 09, 2018

Shares in Apple plunged about two percent on the report; its suppliers AMS and Dialog Semi tanked six percent and 4.1 percent respectively. "For the three new models specifically, the total planned capacity could be up to 20% fewer than last year's orders".

Porsche Picks Taycan as Name for Its First Electric Vehicle

June 09, 2018

Features such as the flared haunches, LED tail-light strip and coupe-like rear end will remain to echo the looks of the 911 sports vehicle. Porsche makes different versions of all its cars, ranging from from fast to extremely fast, and it's expected to do the same with the Taycan .

Tim Hortons Camp Day looking to build off success in Prince George

June 09, 2018

Officials with Cambridge Fire, Kitchener Fire, ROW Paramedics, and Waterloo Regional Police Service are also set up at Tim Hortons across the Region for Camp Day. It's that one day of the year where you can make a huge difference in children's lives just by buying a coffee. Guests can join the Camp Day conversation by using hashtag #CampDay on Twitter, Instagram and Facebook to show their community how they're helping to build a brighter future for kids.

'We begin our fight now': Harvey Weinstein pleads not guilty

June 09, 2018

The flood of accusations against Mr. Weinstein triggered the dynamic Me Too movement that helped men and women all over the world gain the courage to speak out against powerful men who had used their authoritative positions two sexually abuse them.

Trump threatens to ‘terminate NAFTA’ if there isn’t a new deal

June 09, 2018

President Trump arrives in Canada for the G7 summit . Also new is an ongoing USA federal investigation into whether Trump's associates co-operated in Russia's efforts to sway the 2016 presidential election. The G7 groups Canada, the United States, Japan, Britain, Italy, France and Germany. Trudeau addressed the president's Twitter blasts while visiting Quebec's Saguenay region on Thursday.

Potential Poundworld buyer 'walks away from deal'

June 09, 2018

It is reported it will appoint Deloitte as administrators. Sky News has learnt that Rcapital has been holdings talks with TPG Capital , Poundworld's owner, for the last 48 hours even as the company prepares to begin a legal process paving the way it to fall into administration.

Oil prices fall on dip in China demand, surging U.S. output

June 08, 2018

Brent was up 45 cents a barrel at $75.83 by 1015 GMT. Further weighing on prices has been surging USA output, which hit another record last week at 10.8 million bpd. "At the moment, the oil price is being driven by OPEC and views on how much and how quickly "OPEC plus" will raise output", Energy Aspects analyst Virendra Chauhan said.

Trump arrives in Quebec for G7 summit, wants Russian Federation invited back

June 08, 2018

President Trump has said that G8 talks "will mostly center on the long time unfair trade practiced against the United States". "G-7 sherpa and deputy assistant to the president for global economic affairs Everett Eissenstat will represent the United States for the remaining G-7 sessions", White House Press Secretary SarahSanders said in a statement .

U.S. trade deficit falls to seven-month low

June 08, 2018

Expectations were for the trade deficit to narrow to C$3.40 billion, according to economists at Royal Bank of Canada. The two-year fell 5 cents to yield 1.944 per cent and the 10-year declined 52 cents to yield 2.312 per cent. Natural gas prices grinded higher ahead of Thursday's inventory report from the Department of Energy. Canada has said it would slap tariffs on imports from the United States, including whiskey, orange juice, steel, aluminum and other products.

May in Canada to defend Trump as world fears trade SNUB

June 08, 2018

Trump will come face-to-face at the gathering in Charlevoix, Quebec, with world leaders whose views do not chime with his on a range of issues from trade to the environment as well as Iran and the construction of a new U.S. "Take down your tariffs & barriers or we will more than match you!" Trump reportedly didn't even want to go to the meeting in the first place .

Google: Our AI won't be a weapon

June 08, 2018

Google has said Duplex will identify itself so that wouldn't happen. Google pledged not to use its powerful artificial intelligence for weapons, illegal surveillance and technologies that cause "overall harm". Google's $800 billion parent company, Alphabet, is considered one of the world's leading authorities on AI and employs some of the field's top talent, including at its London-based subsidiary DeepMind.

Ghana Football Association Dissolved Following Documentary Exposing Widespread Corruption

June 08, 2018

The Public Relations Officer of Zylofon Cash, Halifax Ansah Addo, has said that Zylofon Media is still committed to sponsoring the Ghana Premiere League despite the bribery scandal that has shaken up the Ghana Football Association (GFA ). "There may be the temptation for government to step in and I know Ghanaians wouldn't mind suspension from worldwide competitions, but the overall repercussions for Ghana football is what we should look at".

The UK Times: UK PM May accused of deceiving ministers over Brexit

June 08, 2018

But Davis was reportedly furious that the clause did not have an end-date built into it. The proposal would see the United Kingdom match European Union trade tariffs temporarily. Ireland's deputy premier Simon Coveney warned that unless there was a legally-binding assurance that a hard border would be avoided "in all circumstances", there could be no progress on other elements of the Brexit talks.

Ex-Cambridge Analytica boss admits getting Facebook data from researcher

June 08, 2018

Alexander Nix acknowledged today that he should have been clearer when asked at an earlier hearing whether his firm had Facebook data through Global Science Research, a company set up by Cambridge University academic Aleksandr Kogan. As Christopher Wylie says in the above video, " Cambridge Analytica is the beginning, it's not the end". Nix also called out Channel 4 for editing the footage to portray him in a worse light.

Autopilot sped up before fatal Tesla Model X crash

June 08, 2018

Tesla has faced criticism for calling its system Autopilot because the name implies the vehicle can drive on its own. At 7 seconds prior to the crash, the Tesla began a left steering movement while following a lead vehicle. After the accident, which took the life of the driver, had gathered a lot of media attention and scrutiny from the NTSB, Tesla released a detailed report of what it thought happened based on the vehicle's data logs .

U.S. Job Openings Hit Record High Of 6.7 Million In April

June 08, 2018

That's the most since records began in December 2000. Analysts expect faster consumer spending to help accelerate growth to roughly a 3.5 per cent annual rate in the April-June quarter, after growth had lagged slightly in the first three months of the year.

Trump making first official visit to Canada as President tomorrow

June 08, 2018

The Trump-Trudeau relationship over the U.S. president's first 18 months in office started off amicably, with a strong handshake and a relatively cordial first meeting a month after Trump took office. That torch has officially been passed to Donald Trump . "I think it's fair to expect that any discussions on the global economy.in the current environment will quickly turn into a discussion about trade", a senior Canadian official said.

Trustees warn Medicare finances worsening

June 07, 2018

Don't worry, that doesn't mean that Mom and Dad won't have any Social Security to rely on after 2034. Medicare Part A's trust fund is funded through payroll taxes, split between employer and employee. Basically, Social Security and Medicare are spending more than they will take in due to increased costs and the decline of workers paying into the system.

MPs launch inquiry into train timetable fiasco

June 08, 2018

The branch line serving Windermere in the popular Lake District National Park will be closed and replaced by a bus service. "I am challenging the transport secretary to come and meet some of the men and women bearing the brunt of the backlash against the timetable changes his department signed off".

US Republicans challenge Trump on tariffs

June 07, 2018

It's exhausting. Not only is Trump launching a pointless trade war against our three closest allies and four largest trading partners , but now apparently he's lecturing heads of state on history that never happened. Pleas by the other member countries for exemptions from the steel and aluminum tariffs, which went into effect on June 1, have fallen on deaf ears in Washington .

Ethiopia Will 'Fully Accept' 2000 Peace Agreement with Eritrea

June 07, 2018

The Ethiopian government will offer shares to foreign investors in its major public enterprises, including Ethiopian Airlines, the ruling Ethiopian People's Revolutionary Democratic Front said in a statement . The announcement was the first clear signal that Prime Minister Abiy Ahmed , who came to power in April promising a "new political beginning", would implement real economic reforms.

Heinz Salad Cream may become 'Sandwich Cream'

June 07, 2018

Salad cream - or, rather, sandwich cream - never established quite the same foothold in the USA, although it is a healthier alternative to mayo. But the news has caused consternation among some traditionalists, including those who rallied to save the brand a few years ago.

Koch brothers take on Trump over tariffs

June 07, 2018

Mark Holden, who has spent a career at Koch Industries and now helps run their political efforts, said the Koch network would continue to expand even as one of its founders steps aside. Using the money they made from their Kansas-based family business empire, the Koch brothers have created what is likely the nation's most powerful political organization with short- and long-term goals.

Criminal charges laid against ANZ in cartel case

June 07, 2018

Guess who? The bulk was raised through an institutional share placement underwritten by Citi, Deutsche Bank and the local arm of J.P. Morgan. "These serious charges are the result of an ACCC investigation that has been running for more than two years", ACCC Chairman Rod Sims said.

Burger King Video Shows Mice Racing on Sesame Buns, Rodent Droppings Found

June 07, 2018

The video shows mice and rats running through a bag of burger buns. Delaware's Division of Public Health Office of Food Protection received a complaint last Friday, according to Delaware Online . The report also identified that the ceiling was leaking fluid near the food line and flies were buzzing around a drain by where the rolls and buns were being stored.

ZTE has reached a deal to have USA sanctions lifted

June 07, 2018

ZTE has reportedly reached an agreement in principle with the Trump administration to lift the Department of Commerce's ban on American companies selling equipment to the Chinese telecommunications giant. Shenzhen-based ZTE has a subsidiary in Richardson, Texas. At that time, the USA discovered documents that showed how ZTE established new entities to sell US technologies to Iran.

ZTE has reached a deal to have U.S. sanctions lifted

June 07, 2018

It appears that the Trump administration is pretty bothered by the fact that ZTE wanted to replace a top executive with one from another company that was also sanctioned by the US government for being a national security threat. The deal apparently includes a massive fine for ZTE's non-compliance with an earlier settlement over its breaking of Iran sanctions, as well as the replacement of its management team.

Germany's Bayer to complete Monsanto purchase on Thursday | AP business

June 07, 2018

Speaking during a telephone conference, Bayer chief executive officer Werner Baumann confirmed that "Monsanto will no longer be a company name ". "Bayer will remain the company name". Once the buyout and the sales to BASF are completed, Leverkusen-based Bayer's crop science business plus Monsanto will account for around half its turnover, with the remainder coming from pharmaceuticals and over-the-counter health products.

European Union plans to hit USA imports with duties from July

June 06, 2018

The EU executive said Wednesday it would start imposing higher duties on a number of US products in July in response to US President Donald Trump's recent decision to slap higher tariffs on some EU exports . The EU plan would also impose duties between 10 and 50 percent on $4.2 billion worth of US goods in March 2021 or sooner if the World Trade Organization rules that Trump's tariffs are illegal, Reuters reported.

Govt unveils sugar bailout package, MSP fixed at Rs29/kg

June 06, 2018

The Cabinet also approved a Rs 1,300 crore interest subvention on the loan for creating new ethanol production capacity as also expanding the existing one. The Government had in the last few months announced several other measures to improve the liquidity position of sugar mills. As a result, mills now owe almost Rs22,000 crore to cane growers, which could leap to a record Rs25,000 billion in the current 2017-18 season.

RBI hikes repo rate by 25 basis points to 6.25%

June 06, 2018

The reverse repo rate was increased by 25 basis points to 6.00 percent. Anticipating a hike of the interest rate, several major lenders including SBI, PNB and ICICI Bank had already raised their lending rates from June 1. The CPI inflation forecast for the first half of the financial year has been raised between the 4.8 and 4.9% range and for the second half, the forecast has been raised to 4.7%.

Sportspersons pledge to reduce use of plastic, urge people to save environment

June 06, 2018

The challenge has been initiated by UN's Goodwill Ambassador Dia Mirza and has been picked up by other actors too. She captioned the picture writing, "All those contesting Maharashtra Government's ban on #singleuseplastics I want to ask you, WHY?" She posted a photo of her with her travelling water bottle.

Lord & Taylor Will Close Flagship Store In Landmark Fifth Avenue Building

June 06, 2018

Hudson's Bay Company, which owns the retailer, said it will shutter the location along with nine other unspecified Lord & Taylor stores by the end of 2019. Maxx, Marshalls and of Nordstrom (jwn) Rack. "Everything is on the table in terms of focusing on driving improved profitability for the business ..." "HBC's real estate decisions have made sense, but they have had an unfocused strategy on the retail side, and hopefully that will get sorted out with (Helena Foulkes) on board", he said.

Nicaragua death toll rises after Mothers' Day protests

June 06, 2018

Protesters blame government forces. The statement follows an AI report [text, PDF] published the day before that detailed the Nicaraguan government's tactics to suppress protesters. The CENIDH said the latest killings occurred in the capital Managua and the cities of Esteli and Masaya, while incidents also took place in Leon.

Buffalo Wild Wings Twitter account hacked

June 06, 2018

As the uncharacteristic tweets rolled in from the company's account, people on Twitter joked about the incident. Buffalo Wild Wings has a (chicken) bone to pick with whoever posted a series of profane tweets from its Twitter account Friday night.

Brent crude gains after touching one-month low amid supply concerns

June 06, 2018

Saudi Arabia and Russian Federation were already discussing raising OPEC and non-OPEC oil output by around 1 million bpd, sources familiar with the matter said on May 25. Saudi Arabia and Russian Federation last month proposed a gradual production increase, although other members of the group have yet to agree. The U.S.

Britain clears Murdoch's bid for Sky if it sells Sky News

June 06, 2018

Culture Secretary Matt Hancock has referred Fox's bid for a further consultation, but has also cleared Comcast's rival bid to take over Sky . Hancock said that if that condition is fulfilled, he would favour giving the deal the go-ahead as well.

Security breach at MyHeritage website leaks details of over 92 mln users

June 06, 2018

MyHeritage said Monday in a blog post that the breach involved roughly 92 million user accounts that were created through October of a year ago. Israel's MyHeritage helps families around the world find their history with family tree tools, DNA tests, and a library of historical records.

IHOP changing name to IHOB, people are flipping out

June 06, 2018

While "International House of Breakfast" might seem like the most logical new name, the chain did warn one fan with that guess not to jump to conclusions. Your guess is as good as ours, but the legendary pancake spot even has a poll going on Twitter to generate buzz before the announcement. After 60 years, a national breakfast chain is making a big name change.

Elon Musk fends off challenge to Tesla control

June 06, 2018

The results of the vote were announced at Tesla's annual shareholder meeting, which was held in Mountain View, California. That had represented the strongest challenge yet to Musk's grip on the Silicon Valley electric vehicle maker, which also faces production setbacks and expectations by many analysts that it will need to raise new cash.

Trump wants NAFTA pact separated: adviser

June 06, 2018

Mexican Economy Minister Ildefonso Guajardo said in a statement that his country sees NAFTA as a more beneficial option for all parties. President Trump told American farmers on Monday, "By the time I finish trade talks", China, Canada and Mexico, the three largest customers for USA farm exports, will remove trade barriers to American products.

Google reportedly not renewing contract for Project Maven drone program

June 06, 2018

Google makes out that it is a happy family friendly brand, but the truth is that Google is a very brutal company and all Google cares about is money. Last month more than 90 academics released an open letter that called on Google to end its work on Project Maven and to support an global treaty prohibiting autonomous weapons systems.

PORK PROTEST: Mexico to Impose HUGE TAX on US Pig Products

June 05, 2018

He believes that it is at best outdated, and all the concessions that the US made after World War II to Europe and Asia are no longer appropriate. Mexico's Economy Ministry announced on Tuesday it will impose retaliatory tariffs against the U.S.

Qatar Airways boss says women can't do his job

June 05, 2018

Qatar Airways staff are more than 33 percent female, he said. Asked whether he would welcome a female executive as chief executive, Al Baker, who has run Qatar Airways since 1997, said: "It will be my pleasure to have a female CEO candidate I could then develop to become CEO after me".

Hailstorm crushes nose of American Airlines plane

June 05, 2018

The plane was flying above Ruidoso when it circled back and headed toward El Paso . No injuries have been reported, according to the airline. "We could hear the hail hitting the plane". 'The aircraft is now being evaluated by our maintenance team, ' American Airlines said in a statement. The 130 passengers and crew of five were put on another plane and landed in Phoenix hours later.

Mexico Slaps Tariffs On US Steel, Agricultural Products

June 05, 2018

The G-7 ministers urged the U.S.to abandon the tariffs ahead of the leaders' summit before the move causes deeper divisions within the G-7. The timing of the tariff proposals puts it immediately following Trump's June 12 meeting with North Korean leader Kim Jong-un.

Fuel prices rising at fastest rate for 18 years

June 05, 2018

Oil Minister Dharmendra Pradhan had yesterday ruled out a review of daily price revision formula and reiterated that the government is working on a long-term solution. The good news is, CommSec thinks petrol prices may have peaked, after weekly price data from the Australian Institute of Petroleum showed a 0.1 cent fall in national average prices last week, to 153.3 cents per litre for unleaded petrol.

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.

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