Economy / 105

Dyson to make electric cars in Singapore

October 24, 2018

James Dyson , the billionaire British inventor of the bagless vacuum cleaner, has chosen to build his electric vehicle in Singapore to be close to Asian customers, supply chains and a highly skilled workforce. Dyson is looking to exploit his company's expertise in solid-state battery technology and electric motors that are found in his innovative vacuum cleaners and other products, such as bladeless fans and air purifiers.

Oil rises above US$80, Saudi Arabia plans output increase

October 23, 2018

Saudi energy minister Khalid al-Falih told Russia's TASS news agency that his country had no intention of unleashing a 1973-style oil embargo on Western consumers. US crude futures fell 15 cents to $68.97 a barrel. "We have just upgraded our price forecasts for 2019 Brent by $20.5 per barrel to $83.5 per barrel", the USA bank said, adding that this "bullish argument is strongly driven by tighter supply due to Iranian sanctions and declining spare capacity".

Massive recall issued for ready-to-eat meals from Trader Joe’s

October 23, 2018

The products were produced from September 27, 2017, to October 15, 2018. It impacts the 4 1/2-pound cardboard cases containing 24 count Go-Go Taquitos of the following three varieties: Beef taco and cheese taquitos with case code 86183; buffalo style cooked glazed chicken taquitos with case code 86006; and chipotle chicken wrapped in a battered flour tortilla with case code 86019.

Police To Probe Man Yelling Racist Slurs At Black Woman On Plane

October 23, 2018

In an interview with Huffington Post UK , the woman's daughter said the disagreement started when her mother, who has arthritis, didn't stand up immediately from her aisle seat to allow the man to get to the window seat. To his surprise, Lawrence said, the flight took off shortly afterward, with no apparent repercussions for the male passenger, who effectively enjoyed "extra leg room" in a row to himself.

How are cannabis deliveries in Halifax affected by Canada Post's rotating strike?

October 23, 2018

CUPW President Mike Palecek says Canada Post has refused to talk about issues that matter to the union, which include job security, an end to forced overtime, better health and safety measures and gender equality. "The insane thing for Canada Post workers right now is they're fighting to keep making sure they have on-going relevance in the economy and yet the strike action is making sure more and more customers will bleed away from the corporation", says Dan Kelly of the Canadian Federation of ...

Elon Musk’s 150mph 'Loop' tunnel system to open in December

October 22, 2018

When the tunnel underneath Los Angeles is built, it will be capable of carrying pedestrians, vehicles, and cyclists at high speeds underneath the city, circumventing traffic. Elon Musk says the first tunnel is "almost done ". The company has also touted plans to have its systems run high-speed travel between cities. One of the proposed routes would take passengers from the District of Columbia to NY in under 30 minutes.

Saudi operative wore Khashoggi’s clothes, acted as decoy to fool Turkish police

October 22, 2018

Investigators are seeking to take statements from all 45 consulate workers within the coming days. The killing of Saudi journalist Jamal Khashoggi at the kingdom's consulate in Istanbul is unlikely to halt Crown Prince Mohammed bin Salman's rise to power, but could cause irreparable harm to relations with Western governments and businesses, potentially endangering his ambitious reform plans.

Leading US senator blames Saudi prince for Khashoggi death

October 22, 2018

Both Republicans and Democrats have turned their attention to the role of the prince, with whom Trump and his son-in-law and White House adviser Jared Kushner have cultivated a close relationship. Several Democratic members of Congress over the weekend called for Saudi Arabia to face consequences for the death, and suspected murder, of Saudi journalist Jamal Khashoggi in the Saudi consultate in Istanbul on October 2.

Turkey to reveal details of probe into Khashoggi's killing

October 22, 2018

An hour later, another Saudi official attributed the death to a chokehold. Turkish sources say the authorities have an audio recording purportedly documenting Khashoggi's murder inside the consulate. We feel their pain. "First, we condemn this act in the strongest terms", the German leader said. For Saudi Arabia's allies - particularly in the West - the question will be whether they believe that the prince, who has painted himself as a reformer, has any culpability.

Ryanair under fire for lack of response to racist incident on flight

October 22, 2018

She said she took her mum, who migrated to the United Kingdom from Jamaica in the 1960s, on holiday to mark the anniversary of her mother's husband's death. While Shirley-ann Stretton added: "What a joke the cabin crew member should have gone straight to the captain and got the racist b****** took off the flight".

In the Network declassified elektrouniversal Porsche Taycan

October 22, 2018

First presented at the 2018 Geneva Motor Show , the Mission E Cross Turismo was liked both by journalists and general public. The vehicle will receive two electric motors. Like the sedan, the Cross Turismo is propelled by an 800-volt electric system that has an overall output of over 600hp (450kW). The manufacture of the vehicle will create 300 jobs at Porsche's Zuffenhausen home.

Tim Cook calls for Bloomberg to retract controversial chip story

October 21, 2018

Now, for the first time, Apple is asking Bloomberg to retract the report. "They should do the right thing and deny this information", said cook. Bloomberg Businessweek insists that its story , which claimed that hardware maker Supermicro hid chips on server motherboards created to enable malware to be installed on the computers, is true.

Mega Millions Players Ponder How to Spend Record $1.6 Billion Prize

October 21, 2018

Tickets for both Mega Millions and Powerball are sold in Kansas everywhere Kansas Lottery tickets are sold. In the Powerball, the victor can also opt for a cash prize of more than $354 million. United Kingdom players can win a separate prize by betting on the numbers. Mega Millions officials say no tickets matched all six numbers to claim the estimated $1 billion grand prize in Friday night's drawing.

Mega Millions grows to record $667 million jackpot ahead of Tuesday’s drawing

October 21, 2018

Nearly $1 billion in combined grand prize money could await lottery players with tickets for the Mega Millions and Powerball lottery games this week. The Mega Millions jackpot has not been won since July 24 and Monday afternoon eclipsed the previous record $656 million from March of 2012. The chances at winning millions continues tomorrow with the Powerball jackpot.

China's growth slows as officials try to reassure investors

October 21, 2018

This, however, could also hurt the Chinese economy, as soybeans are needed for processed food products and for animal feed, among other uses, and increased soybean prices would contribute to higher commodity prices in China. Yesterday the Chinese stock market fell to near-four-year lows before bouncing back to close... And Trump has said he's prepared to expand the tariffs to effectively cover all Chinese exports to the United States, which topped $500 billion past year.

Mega Millions numbers for $1B jackpot announced

October 21, 2018

The cash option is $565 million, according to Mega Millions . Lottery officials increased the grand prize just hours ahead of the Friday night drawing. In 2016, a $1.6 billion Powerball prize was split three ways by ticket holders from California, Florida and Tennessee. The total amount has now swelled to an estimated $1.6 billion jackpot for Tuesday night's draw, which costs $2 to play.

Mexico slowly processes caravan migrants at Guatemala border

October 21, 2018

President Donald Trump's threats of retaliation. By Friday morning, at least a thousand migrants had arrived in the city of Tecun Uman, in northern Guatemala , and said they were preparing to cross into southern Mexico, even as Mexican authorities deployed additional police and Guatemalan officials shut a major border crossing.

Passengers warned as airline suspends flights

October 20, 2018

Cobalt started operations in 2016 and meant to fill the void left by Cyprus Airways at Larnaca and quickly rose to become the second largest airline at Larnaca Airport. Commenting on the announcement shock Thursday after an emergency meeting, the cypriot minister of Transport, Vassiliki Anastassiadou, spoke of the inability of the company to find the necessary funds to restore its financial situation.

Oil falls below $79 as rising U.S. stockpiles weigh

October 20, 2018

The data raised concerns that China's trade war with the United States was beginning to hit growth, which may limit oil demand. Saudi Arabia is an important ally in the Middle East about Iran . "Our ties are now influenced by the United States sanctions., but the fact that cooperatives are exempted from these bans gives South Korea a very good opportunity", the Korean diplomat said .

Netflix Plans to Outspend Hulu & Amazon on New Content

October 20, 2018

The streaming company released a record 676 hours of original programming in the third quarter , according to Cowen & Co, the first time it has exceeded 500 hours in any quarter. If the stock keeps increasing over the advancing weeks it will highlight those investors still possess a robust appetite for hazardous companies, a viewpoint that might fall over into other technology firms.

London Paddington station: trains cancelled after ‘major power outage’

October 20, 2018

About 500m of overhead cables were "severely" damaged during a Hitachi train test run on Tuesday night. "We advise only to travel if necessary". The Japanese giant is introducing the new hi-tech trains on the mainline between London and Devon, with several already coming into service.

Mega Millions: No Big Winner, Jackpot Climbs To $470M

October 20, 2018

For Mega Millions , it's 1 in 302,575,350. Thus the person who guessed numbers 27, 28, 32, 41 and 69 , and the number of the bonus Mega Ball - 12can pick up the win. The Mega Millions drawing is televised live every Tuesday and Friday at 11 p.m. on selected television stations. The odds of winning "scratchers" - those little instant winning tickets that you can buy for prices ranging from $1 to $50 - are better, but it's still no way to get rich.

Tesla Has Finally Released Its Long-Promised Mid-Range Model 3. Sort Of

October 19, 2018

With the arrival of the Model 3 Mid Range model, Tesla will no longer sell the rear-wheel drive Long Range version. Tesla has been focused on ramping up production to fill those higher-priced orders. The specs: an anticipated EPA range of 260 miles, 0-60 mph acceleration in 5.6 seconds, and a top speed of 125 mph-compared with 310 miles, 5.1 seconds, and 140 mph for the Long Range rear-wheel drive version that was originally introduced.

Donald Trump concedes Saudi journalist Jamal Khashoggi likely dead, threatens consequences

October 19, 2018

Trump has largely stood by the Saudis over the past week or so as they've repeatedly denied involvement. Khashoggi's killers may have dumped his remains in Belgrad Forest adjacent to Istanbul, and at a rural location near the city of Yalova, a 90-kilometre (55 mile) drive south of Istanbul, the officials said.

Fed officials discussed hiking rates to 'restrictive' level

October 19, 2018

Rate rises have become a divisive issue in the United States, with Donald Trump repeatedly criticising monetary policy decisions and labelling the Federal Reserve his "biggest threat". 'A few participants expected that policy would need to become modestly restrictive for a time, ' according to the minutes. The Fed continues to debate the precise short-term neutral rate, while its median estimate for a long-run neutral rate is 3 percent.

Burger King's Halloween Burger Really Induces More Nightmares

October 19, 2018

Burger King is releasing a green burger stuffed with chicken, beef and bacon just in time for Halloween . The "spooky sandwich" has a quarter pounder of beef, a chicken filet, American cheese, bacon, mayonnaise and onion. That's all well and good, but isn't there also a distinct difference between having nightmares because something scared you versus having nightmares because your dinner was an assault on your vital organs?! "The burger then transformed into the figure of a snake", she ...

USA and United Kingdom ministers boycott Saudi summit amid journo's case

October 18, 2018

Karen Attiah, the global opinions editor at The Washington Post , who published a note to Khashoggi's last article, said she received this piece from the translator a day after the columnist disappeared. "More important, we need to provide a platform for Arab voices". He returned to Saudi Arabia on Tuesday before Turkish police searched his residence.

Fed plans to keep hiking interest rates despite Trump blowback

October 18, 2018

As well as making life more hard for USA exporters, a stronger greenback also raises the borrowing costs of many heavily-indebted emerging market economies, such as those in Latin America which have high levels of dollar-denominated borrowing.

Powerball ticket sold in East Wareham worth $1 million

October 18, 2018

Here are the winning numbers in the most recent drawing: 3, 57, 64, 68, 69 and the Powerball number was 15. Winners include Ashley Eggen of Elizabethtown, who won a $1 million prize in the Mega Millions drawing on October 8. The Mega Millions jackpot for Friday's drawing stands at $900 million - that's the second largest lottery jackpot in US history. Lottery officials have urged winners to take a deep breath, put their winning ticket in a safe spot, and consult with a reputable financial ...

Inside Canada's First Legal Recreational Cannabis Stores

October 18, 2018

Kevin Satterfield, director of cannabis retail operations for the distribution branch, said about 20 people have been hired to work at the store and they looked for staff with awareness of cannabis. It remains illegal to transport marijuana and you will likely face criminal charges when trying to cross the border into the United States, even if you're going to one of the nine USA states where recreational marijuana is legal.

Pompeo says Saudis committed to complete probe into journalist's disappearance

October 17, 2018

Trump has spoken with Saudi King Salman and Crown Prince Mohammed bin Salman, whom he said both deny any knowledge of Khashoggi's disappearance. Turkey has expressed concerns that Khashoggi could have been murdered inside the building, which the Saudi government has refuted.

Body of missing Saudi journalist was cut into pieces, Turkish official says

October 17, 2018

Turkish authorities have said they believe 15 Saudi men-government officials and intelligence officers-who arrived in Istanbul the day Khashoggi disappeared are tied to his suspected murder. Later, at the White House, he reiterated that there would be "powerful consequences" for Saudi Arabia. Saudi authorities have yet to give a clear explanation of Khashoggi's fate, while several countries - particularly Turkey, the USA and the United Kingdom - have pressed for the matter to be ...

Audi settles diesel probe for €800m, 'admits responsibility'

October 17, 2018

Munich prosecutors have issued an administrative order against Audi for deviations from regulatory requirements in certain V6 and V8 diesel engines. Tuesday's fine comes on top of total costs in fines, buybacks and refits of more than €27 billion that Volkswagen has had to pay out over its " dieselgate " scandal.

Cannabis is legal: A look across Canada as marijuana prohibition ends

October 17, 2018

The legal age for cannabis is 19 years old and older. In Quebec, a newly-elected government has promised to hike it to 21. Anticipation and excitement have been building around the federal legalization of cannabis, but despite the only government-run store in B.C.

Key Democratic senator says Saudi response on Khashoggi 'strains any credibility'

October 17, 2018

Saudi Arabia has repeatedly denied it has any hand in the fate of Khashoggi, a Washington Post contributing columnist who had been critical of the Saudi leadership. Both the Times and CNN caution that the details of the Saudi's report , based on tips from anonymous sources familiar with the Saudi investigation, could change.

Elon musk was removed from the leadership of Tesla for three years

October 17, 2018

Fast forward to this week, when Musk followed up on his social-media platform of choice with a "visual approximation" of what the label could look like. The day after the tweet, Tesla's shares fell 7 percent when billionaire investor David Einhorn's Greenlight Capital hedge fund criticized the electric carmaker, saying Musk had been deceptive and the carmaker's woes resembled those of Lehman Brothers before its collapse.

Here are the winning Mega Millions numbers | October 16, 2018

October 17, 2018

To win the jackpot, tickets must match five white ball numbers plus the mega ball. California Lottery officials announced that near matching ticket was sold in San Francisco shortly before 9:15 p.m. 19 drawing will roll to $868 million, with an estimated cash value of $495 million. The record Mega Millions jackpot of $656 million on March 30, 2012, was shared by winners in Illinois, Kansas, and Maryland, and a $648 million jackpot was won in California and Georgia on December 17, 2013.

Saudi Arabia Says It Will Increase Output To Keep Oil Market Stable

October 17, 2018

The Schork Report Founder Stephen Schork discusses why low oil prices aren't necessarily good for the economy and how high prices are a reflection of a strong economy. The October exports are a sharp drop from the 2.5 million bpd in April before US President Donald Trump withdrew from a multilateral nuclear deal with Iran in May and ordered the re-imposition of economic sanctions on the country, the data showed.

Khashoggi Investigation: Saudi threatens to retaliate against sanctions

October 17, 2018

King Salman bin Abdulaziz Al Saud emphasized the strength of the relationship between Riyadh and Ankara in a telephone call with Turkish President Recep Tayyip Erdogan, the Saudi press agency said Sunday. On Monday JP Morgan & Chase Co Chief Executive Jamie Dimon and Ford Motor Co Chairman Bill Ford said they canceled plans to attend Saudi "Future Investment Initiative" conference, joining a number of companies that pulled out over concerns about the disappearance Khashoggi.

Major outage prompts outcry on social media — YouTube down

October 17, 2018

Since then, users have seen error messages appear instead of video content, confirming problems with the service. No further information on the issue is available. "Search works, but videos won't load", one user from the United States confirms. These appear with a line of code and a purple monkey holding a hammer, with the message: "Sorry something went wrong", a message from YouTube reads.

Thousand-Strong Migrant 'March' Walking Toward US Border

October 17, 2018

Honduras: Why are people desperate to leave? Honduran authorities did not immediately respond to the US messages. "Delivered strong message from @POTUS: no more aid if caravan is not stopped". Many in the caravan traveled light, with just backpacks and bottles of water. The caravan began as about 160 people who first gathered early Friday to depart from San Pedro Sula, one of Honduras' most risky places, figuring that traveling as a group would make them less vulnerable to robbery, ...

Oil prices climb amid Saudi tensions, but demand outlook drags

October 16, 2018

This comes as fuel prices continue to rise across the four major metros, burning a hole in common man's pocket. India had contracted to import about 25 MT of crude oil from Iran in 2018-19, up from 22.6 MT imported in 2017-18. South Korea did not import any oil from Iran in September for the first time in six years, before USA sanctions against the Middle East country take effect in November, customs data showed on Monday.

Mega Millions lottery prize of $654 million is nation's 4th-largest

October 16, 2018

Powerball's jackpot also represents: There is a top prize of at least $ 345 million on Wednesday. The Mega Millions lotto drawing is up to $521 million, March 30, 2018. Since the Mt. Juliet victor added the Power Play option for an extra dollar, the base prize of $50,000 was tripled, as the multiplier number last night was three.

Air India flight attendant falls off plane at Mumbai airport

October 16, 2018

It added the woman was injured and brought to Nanavati Hospital for " further treatment ". Air India advised that they had referred the incident to the Indian civil aviation authority, the Directorate General of Civil Aviation (DGCA). According to officials in Nanavati Super speciality hospital, the air hostess is undergoing a series of tests. This isn't the first time an airline employee has fallen out of an aircraft.

Mnuchin says Trump respects the independence of the Fed

October 16, 2018

Fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points Wednesday. Among the hardest hit areas of the market were those that had earlier been the biggest winners, such as technology stocks .

Saudi king engages with Turkey, US to de-escalate Khashoggi crisis

October 16, 2018

The renowned journalist has not been seen since entering the building nearly two weeks ago. Exerting downward pressure on prices, Friday's monthly report from the International Energy Agency said the market looked "adequately supplied for now" and cut its forecasts for world oil demand growth this year and next.

Sears To File For Bankruptcy, Several Stores To Close

October 15, 2018

Lampert, who himself is Sears' biggest creditor, may also provide additional funds through his ESL hedge fund although that will require legal approval. In a statement Monday, Whirlpool said it does not anticipate Sears' bankruptcy filing to have any impact on its full-year 2018 EPS guidance or financial results over the long term.

Saudi king calls Erdogan as Khashoggi fallout widens

October 15, 2018

Turkish authorities have claimed he was murdered in the consulate by Saudi operatives, an allegation the Saudi government strongly denies. On Monday, Trump tweeted that he "just spoke to the King of Saudi Arabia who denies any knowledge of whatever may have happened 'to our Saudi Arabian citizen.' He said that they are working closely with Turkey to find answer".

Business as normal for Patisserie Valerie after rescue package, chairman says

October 15, 2018

Directors said that initial investigation showed that historical statements on the cash position of the company were misstated and subject to fraudulent activity and accounting irregularities, directors said. Patisserie Holdings - which owns additional brands such as Druckers, Philpotts and Baker & Spice - trades from more than 200 stores and also has a partnership with Sainsbury's, with branded counters present in the supermarket.

Sears, Once America’s Biggest Store, Collapses Into Bankruptcy

October 15, 2018

With the bankruptcy, about 150 of the company's department stores could be closed, Reuters said late last week. The company has roughly $5.6 billion in outstanding debt and has dwindled down to about 820 Sears and Kmart stores, down from 2,000 five years ago.

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