Economy / 135

Australia recommends strengthening regulation of Facebook, Google

December 12, 2018

Research commissioned as part of the inquiry indicates consumers are concerned about the extent and range of information collected by digital platforms, the Commission added. The final report is scheduled to be released in June 2019. The preliminary report contains 11 preliminary recommendations and eight areas for further analysis as the inquiry continues.

Theresa May says she won't run in next general election

December 12, 2018

She warned that a change of leadership at such a sensitive time in the Brexit process "would put our country's future at risk" and explained that any new leader would not have time to push through the required Brexit legislation by the end of March.

Shaktikanta Das says he will try to uphold RBI’s autonomy, credibility

December 12, 2018

When asked at a press conference in Mumbai today what his thoughts were about easing PCA norms - something that the government wants the RBI to do - Das chose not to reply directly. "Inflation targeting is an important function as it is a mandated requirement of RBI now", Das said. While replying to a question about whether the RBI has excess capital, Das' reply was that the committee that is to be constituted on the issue will be the one to decide.

Google CEO grilled over 'getting out Latino vote'

December 12, 2018

The hearing began with an opening statement from Rep. Kevin McCarthy , R-Calif., who said launching a censored search engine in China would "strengthen China's system of surveillance and repression". Poe also said that the U.S.is "playing second fiddle" to Europe, which earlier this year implemented the General Data Protection Regulation that gives users more power and transparency over what data they share.

Huawei CFO Meng Wanzhou fights for bail in Canada

December 11, 2018

Meanwhile, an editorial published yesterday by the Global Times said that "it is hard to escape the conclusion that her [Meng's] treatment is something of a show trial meant to humiliate her and the Chinese people". Meng wear a Global Positioning System bracelet created by Ontario-based Recovery Science, which provides such monitoring for those on bail. Wang didn't mention the Huawei Technologies Ltd.

Theresa May to meet Angela Merkel for crisis Brexit talks

December 11, 2018

Labour leader Jeremy Corbyn said the United Kingdom no longer had a "functioning government" and called on the PM to switch to his party's plans for a "jobs-first deal ". There was no official confirmation from 10 Downing Street that the vote was being called off. Theresa May has headed back to Europe in a desperate bid to win concessions from European Union leaders after her Commons retreat over her big Brexit vote.

Macron Addresses France amid Protests; Is It Too Late?

December 11, 2018

On Monday night, Mr Macron addressed France for the first time since anti-tax protests around the country turned into rioting in Paris . He acknowledged "anger and indignation" among the public over the cost of living, but he also said "no indulgence" would be given to people behind the protest violence.

China Court Bans iPhone Sales In Patent Dispute: Qualcomm

December 10, 2018

Apple did not immediately respond to a request for comment, but told CNBC that the ban only affects iPhones running its older iOS 11 operating system, not iOS 12 , which powers the company's latest handsets. The chipmaker cheered the decision on Monday, alleging Apple has benefited from its intellectual property. The court granted Qualcomm's request for preliminary injunctions against the Apple subsidiaries related to two of the chipmaker's patents, according to the statement.

Theresa May scraps Commons Brexit vote

December 10, 2018

She insisted her blueprint was still the "best deal negotiable", and said she still planned to put it to a vote once "reassurances" had been secured on the Irish border backstop - but implied that might not happen until well into the New Year.

RBI governor Urjit Patel resigns, PM Modi says he will be missed

December 10, 2018

Here is his resignation letter: "On account of personal reasons, I have chose to step down from my current position effective immediately". Economist Surjit Bhalla says to CNBC TV18 that Urjit Patel's resignation not completely unexpected as differences between the Govt and RBI were huge.

Japanese prosecutors indict Ghosn, Nissan for understating pay: Kyodo

December 10, 2018

Ghosn , who remains CEO of Renault despite his situation, is set to be indicted for financial crimes as soon as Monday, people familiar with the matter told Bloomberg last week. The Japanese firms in the 3-way alliance with Renault - Nissan and Mitsubishi Motors - have both sacked the Franco-Lebanese-Brazilian as chairman.

Nissan to recall 150,000 cars due to improper checks

December 10, 2018

The recall will cover around 10 models including Note hatchbacks and Leaf electric vehicles as well as March and Cube compact cars produced between November 2017 and October this year. leader Carlos Ghosn on Monday, when his current detention expires, for additional charges over the alleged nondisclosure of part of his hefty pay, informed sources said Friday.

Tumblr to ban all pornographic content from 17 December

December 10, 2018

On November 20, Apple removed the Tumblr app from the iOS App Store due to the presence of child pornography. Tumblr's chief executive, Jeff D'Onofrio, said that as the site has grown, its responsibilities to "different age groups, demographics, cultures, and mindsets" have increased and it has now chose to remove all adult material from 17 December.

Uber Stealthily Files For An IPO, To Double India Tech Headcount

December 10, 2018

Khosrowshahi took over more just than a year ago. The valuation would place Uber far above that of many well-established big companies and on a similar pegging to bluechip firms such as McDonalds or IBM. The company is only in the United States is active and made Thursday announced to the stock exchange to steps. The local taxi industry had provided to the emerging USA competitor, contrary to; in a landmark decision, the regional court in Frankfurt had held that a Service of Uber, the rides, ...

Fiat plans to reopen idled Detroit engine plant to build new Jeep

December 09, 2018

Over the past week, the company showed volatility of 2.22%. The average twelve-month target price among analysts that have issued ratings on the stock in the past year is $23.16. Should the projected estimates be met, then the stock will likely hit its highest price at $28 (up 26.75% from current price levels). On Thursday, De 06, Fiat Chrysler Automobiles N.V.

Winter Storm Impacts Charlotte

December 09, 2018

Heavy snow was falling in North Carolina and southern Virginia on Sunday morning, while Georgia and SC received heavy rain. Baltimore is expected to remain cold and dry Saturday night and Sunday, with a low around 27 Saturday night and a high of 37 Sunday.

Orlando's Salvation Army gets rare gold coin dropped in Publix red kettle

December 09, 2018

Clair Shores Wednesday night. We had no phone calls or messages about it beforehand. "We work hard to get all the money donated and then someone just takes it". Please contact your local Salvation Army for more information. The Lafayette Salvation Army has a goal to collect $255,000 by Christmas Eve. "Making money for the poor, people that need it", he said.

OPEC to slash output by 1.2mn bpd; Iran exempted

December 09, 2018

There has also been fears that the deal between OPEC countries could increase the resonance of US President Donald Trump, who appealed not to cut crude production and keep prices low. "All in all, I expect after this cut that prices will start to go up", he predicted. In June, OPEC and its partners agreed to allow for a boost in production by Saudi Arabia and Russian Federation to compensate for the expected losses in output from Iran after the U.S.

Unemployment rate continues to drop in Kamloops

December 09, 2018

At a national level, the unemployment rate is down to its lowest level since Statistics Canada started measuring comparable data more than 40 years ago. But Friday's report also contained bad items. That said, the average year-over-year wage growth of permanent employees - a figure closely watched by the central bank - dropped for the sixth month in a row, falling to 1.5 percent, the lowest since the 1.2 percent seen in July 2017.

Job growth slows in November, monthly wage gains modest

December 09, 2018

More broadly, USA payrolls have grown for 98 straight months, by far the longest stretch of steady hiring on record. The average hourly pay rose 3.1 percent from a year ago, matching the previous month's figure-the best since 2009. The moderation in job gains in November also fits in with other data showing a rise in layoffs in recent weeks and a decline in a measure of services sector employment last month.

Southwest Airlines flight skids off runway at Burbank airport

December 09, 2018

The Boeing 737 came to a sudden stop after hitting a barrier created to catch aircraft that leave the runway. Firefighters were seen helping passengers off the plane and taking luggage out of the aircraft. "I thought we were going to impact the barrier for sure". A Southwest Airlines plane slid off a runway in Burbank, California, upon landing on Thursday morning.

New Skoda Scala hatchback unveiled

December 09, 2018

Wheel sizes will range from comfort-orientated 15-inch steels and grow to the sporty, low profile 18-inch alloys. Volkswagen Group Australia general manager of corporate communications Paul Pottinger told GoAuto that deliveries of the new Scala will kick off in about a year, with the order books open from quarter three next year.

Marlboro's Parent Company Altria Buys Massive Stake In Cannabis Firm Cronos

December 08, 2018

Canadian pot stocks have been crushed in recent weeks after a lacklustre start to recreational sales amid reports of countrywide supply shortages. "This is a huge validation of the industry and our model", Mike Gorenstein, chief executive at Cronos, said by phone.

Celebrities pay tribute to George H.W. Bush after former president's death

December 08, 2018

Prominent figures and fellow former presidents gave their statements on the passing of H.W. Bush, including Donald J. Trump, Barack Obama, former Vice President Al Gore, Bill Clinton , and Hillary Clinton. John Sununu, Bush's chief of staff between 1989 and 1991, told NPR that the former president helped reshape the world at a critical time , when the Soviet Union was collapsing.

Aston Martin will stuff your classic auto with EV guts

December 08, 2018

But if it's a little better for the environment, silent is better than sitting in a museum. Aston Martin Works, the vehicle maker's historic arm, will create a reversible EV powertrain conversion for its classic models. Production versions of the revolutionary EV cassette will include key components from the Rapide E programme . Given the continuing popularity of classic cars and the growing restrictions on emissions, Aston Martin is convinced this makes sense.

Jeep Wrangler scores 1 star in the Euro NCAP

December 08, 2018

The Fiat Panda complies with all safety legislation in every country in which it is sold". Automatic emergency braking, lane-keeping assist and blind-spot monitoring system are some safety features that are lacking in the 2018 Jeep Wrangler .

China promises prompt action on U.S. trade pact

December 07, 2018

China has said it will immediately implement measures agreed under a trade war "truce" with the US. It would also begin buying products from USA farmers "immediately", the U.S. US Trade Representative Robert Lighthizer will lead the talks to see "whether or not a REAL deal with China is actually possible", Trump tweeted on Tuesday.

Trump sending Air Force One to carry late President George H.W

December 07, 2018

Foreign Minister Retno Marsudi has offered her condolences following the death of former United States president George HW Bush, who passed away on Friday at the age of 94. The former president will also lie in repose at St. Martin's Episcopal Church in Houston, where Bush lived, from 7:45 p.m. ET Wednesday until 7 a.m.

China-US Ceasefire Paves Way For New LNG Projects

December 07, 2018

Chinese officials hailed on Wednesday a "very successful" trade meeting with the US, just days after President Trump claimed there had been a major breakthrough in negotiations that ended in a new trade deal . and Chinese accounts of what the deal entails. The White House has said China had committed to start buying more American products and lifting tariff and non-tariff barriers immediately, while beginning talks on structural changes with respect to forced technology transfers and ...

This Market Indicator That Frequently Signals a Recession Just Flashed Red

December 07, 2018

Concerns about slowing USA growth have accelerated the flattening of the yield curve, a phenomenon in which longer-dated debt yields fall faster than their shorter-dated counterparts. On Tuesday, three-year Treasury yields fell below two-year notes for a brief moment before bouncing back. This may, in turn, lead to lay-offs and a slowdown in employment and growth and ultimately force the Fed to cut rates to spur the economy.

VW Will Phase Out Internal Combustion Engines After The Next-Generation

December 07, 2018

With an electrification strategy firmly in place for the group's stable of auto brands, VW is now ready to embrace the end of ICE age and is planning the last rollout of ICE platform cars in eight year's time. The German manufacturer is "fully committed" to the goals outlined in the Paris climate accord, which calls for accelerating the rollout of vehicles that lower or eliminate harmful emissions, he said at an industry conference organized by the Handelsblatt business newspaper.

The best USA companies to work for

December 07, 2018

Google also fell in the ranks compared to previous year, although it only dropped three spots compared to Facebook's six, now coming in at number eight. Google 9. lululemon 10. Earlier this year, the Japanese firm Recruit Holdings, which also owns the biggest jobs site, Indeed, acquired Glassdoor in a $1.2 billion deal that was one of the larger technology acquisitions of 2018.

Burger King Trolls McDonald's By Offering Penny Burgers Only While At McDonald's

December 07, 2018

After you place an order for the Whopper, the app will "detour" you away from McDonald's to the closest Burger King. The Whopper Detour , which works by geofencing McDonald's locations across the country, runs until Wednesday, Dec. Recently, the fast food chain announced a new promotion to encourage people to use their mobile app. Until then , if a BK app holder is near a McDonald's , the app will unlock the Whopper for a penny promotion .

Markets Right Now: Stocks turn jittery again, Dow sinks 500

December 07, 2018

Concerns about the USA economy also rattled investors, with the gap between long-term and short-term bond yields the narrowest in a decade. The spread between the 10-year yield over its two-year counterpart also shrank to the smallest in over a decade, a closely watched signal because a so-called yield curve "inversion", when the two-year yields more than the 10-year bond, preceded all the recessions of the past 50 years.

China demands Canada release Huawei executive arrested in Vancouver

December 07, 2018

A US judge last month issued an order finding that China's ZTE Corp violated probation imposed in March 2017 when the company pleaded guilty for conspiring to evade USA sanctions by illegally shipping USA goods and technology to Iran. "So while there was a brief moment of optimism after the weekend U.S". "This is usually the kind of move China does", says McGregor. Beijing asked Washington and Ottawa to explain the reason for Meng's arrest, said a foreign ministry spokesman, Geng Shuang.

Market Outlook: Huawei CFO arrested in Canada

December 06, 2018

Meng Wanzhou , who is also Huawei's deputy chair and is the daughter of founder Ren Zhengfei, was arrested in Vancouver in relation to suspicions of violations to United States sanctions against Iran. Both Huawei and ZTE Corp. have faced trouble with the USA and other governments over dealings with Iran and fears the Chinese companies' equipment might be used for spying.

OPEC members expected to agree oil production cut

December 06, 2018

Iraqi Oil Minister Thamer Ghadhban said Iraq as OPEC's second-largest producer would support and join a cut. The current 1.8 million barrels per day production cut will expire in December. The slide in USA oil followed a tumble in global stock markets on Tuesday and Wednesday, with investors anxious about the threat of a widespread economic slowdown.

Thousands Sign Petition Against Ted Baker CEO For Harassment

December 06, 2018

The news comes just days before Ted Baker is set to release its third quarter figures on Thursday 6 December. The current and former staff used campaigning platform Organise to complain about Mr Kelvin's alleged behaviour, including kissing ears, unwanted hugs and shoulder massages.

Alberta orders oil production cut to deal with price differential

December 06, 2018

The price discount between Western Canadian Select (WCS) and West Texas Intermediate (WTI) has fluctuated in recent weeks, reaching around C$45 a barrel. Four days earlier, Notley announced the province would be buying up to 80 locomotives and 7,000 rail cars as the first measure to address the glut.

CFO of China tech giant Huawei Technologies arrested in Vancouver

December 06, 2018

He refused to provide any details on the circumstances of the Chinese executive's arrest, saying that she was " sought for extradition by the United States ". A foreign ministry spokeswoman, Hua Chunying, said then that China opposes any country imposing unilateral sanctions based on its own law. In a statement, Huawei said it complied with "all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the UN, US and EU".

Yellow Vests leader: Fuel tax moratorium is crumbs, we want the baguette

December 06, 2018

Who are the " gilets jaunes " and what are they angry about? The government is likely hoping the suspension of the fuel hikes will take some heat out of the protests, which brought an estimated 36,000 people onto the streets of France on Saturday alone.

Trump's tariff deal with China to benefit farmers

December 05, 2018

China , the world's largest car market, raised tariffs on U.S. auto imports to 40 percent in July , forcing many automakers to hike prices in a major hit to the about US$10 billion worth of passenger vehicles the United States sent to China past year.

Another 5.1 Million Pounds Of Beef Recalled Due To Salmonella

December 05, 2018

This puts the total recall at more than 12 million lbs. from the Arizona company . All product supplied from JBS packaging facility in Tolleson, AZ. The illness can stretch from four to seven days. In some persons, however, the diarrhea may be so severe that the patient needs to be hospitalized. The USDA is also reminding consumers to safely prepare raw beef and make sure it is properly cooked.

White House backpedals on Trump's claim that China will drop auto tariffs

December 04, 2018

China's reticence contrasted with the parade of USA officials talking about the deal on Monday, including Treasury Secretary Steven Mnuchin and White House Economic Adviser Larry Kudlow. China also agreed to lift tariffs, including reducing its 40-percent tariff on American cars, . which Mnuchin expects will eventually "fall to zero".

Qualcomm: $44B NXP acquisition is dead

December 04, 2018

This weekend , United States president Donald Trump met with his Chinese counterpart Xi Jinping in Argentina. Recently U.S. President Donald Trump and Chinese President Xi Jinping agreed on a 90-day truce on additional tariffs as both sides are looking to de-escalate tensions in a trade war that is proving damaging to both.

Quora reveals data breach affecting up to 100 million users

December 04, 2018

Quora's post said it will log out all affected users, and push a password reset. The social platform's CEO Adam D'Angelo said in a statement that a "leading digital forensics and security firm" was continuing its investigation into the hack.

Trump's new NAFTA faces uphill battle in Congress

December 04, 2018

Speaking to reporters aboard Air Force One while returning to Washington from Argentina, Trump said: "I will be formally terminating Nafta shortly". "We get rid of NAFTA". I understand the president said it's final. The North American Free Trade Agreement went into effect on 1 January 1994 in order to establish a trilateral trade bloc in North America.

Amazon tests checkout-free shopping for larger stores

December 04, 2018

While Amazon Go is more of a convenience store, with limited groceries and prepared foods, the intention is to apply the technology to Whole Foods, according to WSJ's sources. That could carry implications for Whole Foods workers, who have already complained that after Amazon's acquisition of the grocery store they were expected to act like " robots ".

Alberta orders 8.7% oil production cut to help deal with low prices

December 04, 2018

Midwest starts operating. Notley blamed the oil price gap on the federal government's failure to build pipelines resulting in the province producing 190,000 raw crude oil and bitumen barrels per day that can not be shipped out. and introduced legislation that industry leaders say will make it more hard to get oil megaprojects approved. A short-term production curtailment was a plan put forward by both United Conservative Party leader Jason Kenney and Alberta Party leader Stephen Mandel.

The late President George H.W. Bush loved his country, and tennis

December 04, 2018

The president's body will be interred at the George Bush Presidential Library and Museum. "Now we've got a serial liar and womanizer as president , a draft dodger surrounded by a bunch of corrupt crocodiles". His casket will be transported by motorcade Wednesday morning to the National Cathedral, where a state funeral will be held at 11 a.m. EST. The reference was to the aircraft carrier USS George H.W.

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