Economy / 83

Bugatti La Voiture Noire: Geneva 2019

March 05, 2019

Then there's the Chiron Sport variant, which tacks a few hundred thousand dollars onto that number, and options like the Sky View roof and colored carbon-fiber body panels raise the price even further. It's based on the Chiron , so there's a quad-turbo W16 engine making 1,479 hp and 1,180 lb-ft of torque . The Bugatti Divo , a sleek sports vehicle designed with "an uncompromising pursuit of the utmost aerodynamic efficiency" is even more exclusive.

Lyft files IPO, beating Uber to go public

March 05, 2019

Lyft co-founders Logan Green and John Zimmer each own about 1.2 million shares. But at the same time, the loss increased within a year from $ 688 million to $ 911 million. Both companies have been investing in self-driving cars, electric scooters and bikes. By being the first company in the ride-hailing category to go public, Lyft is likely to attract institutional investors who want to get in on the sector, said Rohit Kulkarni, senior vice-president of research at Forge.

Tesla's mass market ambitions require 'more stores not less'

March 05, 2019

For more than 100 years, automakers have relied on a network of third-party franchised dealers to sell their vehicles across the US. Less likely to be pleased is the group of new Tesla buyers who have just seen pricing for Model 3 , Model S , and Model X cars drop considerably.

Trump says he plans to end India's preferential trade treatment

March 05, 2019

The US goods and services trade deficit with India was $27.3 billion in 2017, the USTrade Representative's Office said. "I will continue to assess whether the Government of India is providing equitable and reasonable access to its markets, in accordance with the Generalised System of Preferences ( GSP ) eligibility criteria", Trump said in his letter, a copy of which was released to the press, PTI said.

Southwest launches long-awaited $49 flights to Hawaii

March 05, 2019

Southwest Airlines has started selling tickets to Hawaii, and the flights are going fast. This comes after Southwest completed a test flight in early February from Oakland to Hawaii. Although it might be tricky to score a round-trip flight to Hawaii for under $100, Southwest's flight prices to Hawaii are dirt cheap, especially compared to other airlines.

Trump's Trade War Costs Americans $3 Billion Monthly

March 05, 2019

Xi finishes a trip to Italy and France, individuals with knowledge of the plans said . U.S. and Chinese officials are nearing completion of a trade deal after Beijing offered to lower tariffs on American farm, auto and chemical products in exchange for Washington considering eliminating sanctions against China , according to a report on Sunday.

How Nigerians can play for the $381 million American Powerball jackpot

March 05, 2019

The winning numbers for Friday night's drawing were 29-33-39-60-66 , Mega Ball 21, and Megaplier 2X, according to the Mega Millions website . The jackpot now sits at $40 million. And yes, even massive jackpot winners fail to claim their prizes. "I'm happy to congratulate Quick Check #69 of 600 New Brunswick Ave.in Phillipsburg, the retailer that sold this winning ticket ", New Jersey Lottery Acting Executive Director James A Carey, Jr said.

The UK may have 'no option' but to delay Brexit — Liam Fox

March 04, 2019

May insisted Wednesday that Britain will leave the European Union on schedule next month, amid signs that her promise to give Parliament a vote on delaying Brexit was boosting support for her unpopular EU divorce deal. The EU's chief Brexit negotiator Michel Barnier will meet Britain's negotiating team on Tuesday, an EU spokesman said, as both sides seek a breakthrough in the thorny Irish border issue.

Tesla to unveil Model Y on March 14, says Musk

March 04, 2019

This time, it was about the Model Y crossover, about which there has been speculation but little concrete information. The Model Y also completes Musk's promised acronym for the company's first four models: S3XY. Musk has previously said that Tesla plans to build both the Model 3 and now the Model Y at the Reno Gigafactory, with volume production slated to begin next year.

Manufacturing index posts decline for fifth straight month

March 03, 2019

A number of panelists said they had brought forward purchases of inputs to secure raw materials in case of any stock problems resulting from Brexit, but others reported stronger customer demand, the authors said in a statement. Purchasing activity grew in line with forecasts for an increase in production in the coming months. The rate of accumulation was sharp and the fastest in 13 months.

Barnier says EU's ready to give United Kingdom 'further guarantees' on Brexit backstop

March 03, 2019

The British parliament rejected the original Brexit deal hammered out by Prime Minister Theresa May and European Union leaders. The Irish backstop - the "insurance mechanism" aimed at providing a hard border in Ireland - has been the key sticking point for many opponents of the deal in Westminster.

Yeast Engineered to Make Cannabinoids

March 03, 2019

Researchers hypothesize that the new method could have a lesser environmental impact than cannabis plant cultivation, and increase accessibility by rendering cannabinoids less expensive for scientists to study. But the team didn't stop there; they realised that the enzymatic steps involved in making the CBGA were flexible, so they tried out different starter chemicals in the place of the one the marijuana plant used.

Aston Martin's Valkyrie has 1160 hp and 664 lb-ft of Torque

March 03, 2019

Aston Martin says it's begun to build the first physical test prototypes of Valkyrie. On its own, the Cosworth-built naturally aspirated 6.5-liter V12 engine develops 1,000 bhp at 10,500 rpm and 740 Nm of torque at 7,000 rpm. The full strength of the hybrid and gas systems will be 1,160 horsepower and 664 lb. -ft. of torque. This integrates all of the Valkyrie's electric sub-systems, serving as the carrier for the vehicle's power electronics, as well as torque-filling the gaps in the V12's ...

Asian shares slightly higher after MSCI announces China weighting boost

March 03, 2019

Chinese shares continued their gaining streak on Friday with trading remaining robust, following the MSCI's decision to increase the weight of China A-shares in its indexes. The gains in Asia contrasted with a weaker finish on Wall Street on Thursday. The Dow Jones Industrial Average fell 0.27 percent to 25,916 points, the S&P 500 lost 0.28 percent to 2,784.49 and the Nasdaq dropped 0.29 percent to 7,532.53.

Facebook working to roll out its own ‘stablecoin’

March 03, 2019

There is also no information available regarding the number of tokens Facebook will produce, or if it will retain any of the supply for itself. FacebookCoin? Bloomberg reported in December that Facebook has been developing a so-called stablecoin-a digital currency whose value is pegged to a traditional currency, often the United States dollar.

Seat El-Born EV Concept Lands With 202bhp And 261-Mile Range

March 03, 2019

Based on the same VW Group " MEB " electric auto platform as the Volkswagen I.D, which will go on sale later this year, the el-Born has a 62kWh battery that can be charged from 0 to 80 per cent in just 47 minutes using a 100kW DC charging station.

Trump slams Mueller, mocks critics in fiery two-hour speech

March 03, 2019

President Donald Trump on Saturday denounced the investigations against him by pointing to their changes of focus and conflicts of interests . The president repeatedly said that Mr Mueller had "never received a vote", nor had Deputy Attorney General Rod Rosenstein, who appointed Mr Mueller to his position.

Will Trump Take Action Against OPEC?

March 03, 2019

John Kilduff, founding partner at energy hedge fund Again Capital, said during an interview with the CNBC that the real critical center for crude oil in Asia and Asia demand and the economic data out of Asia has been quite poor and he is not certain that even striking a trade deal with China is going to improve that country's fortunes.

United States economy expands by 2.9pc

March 02, 2019

In addition, net exports subtracted far less from growth in the fourth quarter, but much of this was driven by a significantly slower pace of import growth. "It worked exactly the way I said", Hassett said. Some 36 percent of the respondents believe that the existing tariffs, if persist, will drag U.S.

Amazon's new waste-reduction strategy: Deliver once per week

March 02, 2019

By choosing what day you want your packages to arrive, it means your order will contain fewer separate shipments, and thereby produce less waste. And, whenever possible, Amazon will group these purchases into one package to reduce shipping materials like cardboard.

Amazon plans new grocery-store business

March 02, 2019

According to a report by The Wall Street Journal , Amazon plans to open dozens of new grocery stores that will be distinctly different from the company's Whole Foods Market stores. Amazon already has been experimenting with grocery stores, opening 10 Amazon Go stores in the previous year that feature cashierless shopping where customers are electronically charged for whatever they take out of the store.

Hyundai, Kia recalls over 500000 vehicles as fire risk spreads

March 02, 2019

Kia is recalling almost 380,000 Kia Soul compact crossovers from model years 2012 through 2016 and Hyundai is recalling 120,000 Hyundai Tucson compact SUVs from model years 2011 through 2013. Hyundai owners will be notified starting March 29, while Kia owners will get letters starting April 10. Last month, the companies said they would recall 168,000 vehicles for fire risks.

Volvo’s Polestar 2 all-electric sedan to rival Tesla Model 3

March 02, 2019

According to Polestar CEO Thomas Ingenlath, turning to Google for its infotainment system is an example of his company avoiding the mistakes other auto makers have made by trying to build a system on their own. Everything about it has been designed and engineered with passion and dedication. A fully-electric five-door fastback that is predicted to cost £35,000.

Walmart is getting rid of greeters; disabled workers anxious

March 02, 2019

After more than a week of backlash, Greg Foran, president and CEO of Walmart's USA stores, said in a memo to store managers Thursday, Feb. 28, 2019, that "we are taking some specific steps to support" greeters with disabilities. "But it certainly doesn't make any commitment that they are guaranteeing that there will be another position available" for all greeters affected by the change in job requirements.

Lyft files for IPO, to kick off roadshow later this month

March 02, 2019

Prior to the announcement, Lyft gave the public its first look at the firm's financials in separate filing with the SEC. The company expects to be valued at between $20 billion and $25 billion in its IPO, up from its current $15 billion valuation, sources have told Reuters.

YouTube disables comments on videos featuring kids after predators scare

March 02, 2019

Though the company said it's starting with a small group, it eventually wants to open up comments again to more creators. Under YouTube's new policy, users will no longer be able to comment on videos that prominently feature kids younger than 13.

Cuomo Leads Push For Amazon To Reconsider NYC

March 01, 2019

Signatories to the letter included the heads of Morgan Stanley , Goldman Sachs , Mastercard and JetBlue Airways , as well as local leaders, including the heads of tenant associations and the president of the NAACP New York State Conference.

Martha Stewart just partnered with Canada's largest cannabis company

March 01, 2019

The partnership between Canopy Growth and Martha Stewart will be focused on hemp-derived CBD products for both human and animal consumer markets. "I'm especially looking forward to our first collaboration together, which will offer sensible products for people's beloved pets", Stewart, made famous by her cooking shows in the 1990s and then infamous by her conviction for lying to federal investigators over a share trade, said in a statement on Thursday.

Gap to spin off Old Navy as a stand-alone company

March 01, 2019

Gap Inc.is the latest major retailer to announce store closures in response to declining sales. As part of the separation, Gap shareholders will receive a pro-rata stock distribution and own equal shares of both Old Navy and the new company.

Polestar 2 debut garnered with detail

March 01, 2019

This translates to a 0-100 km/h (0 to 62 mph) acceleration time of less than five seconds, Polestar claims. The Polestar 2 is the company's first fully electric auto and the first model to be produced in volume. It's been a little while since Volvo announced its intention to spin its in-house tuning division, Polestar, off into a standalone brand. As an electric performance brand, and through the forthcoming launch of a portfolio of fully electric cars, Polestar is determined to address the ...

Pakistan brings captured Indian pilot to border for handover

March 01, 2019

Indian military officials said on Thursday they welcomed Pakistan's plan to return the captured Indian pilot on Friday. "This gesture of yours in releasing our pilot officer, wing commander Abhinandan Varthaman has won Pakistan a great respect within Pakistan , as well as in in the worldwide community".

Amazon's Project Zero lets brands take down counterfeits

March 01, 2019

Listings flagged by brands will also help inform Amazon's algorithms so they can better spot fraudulent products in the future. In 2017, more than half the products sold on the site came from such sellers according to a letter published in April from Amazon founder and chief executive Jeffrey P.

Tesla drives down price for Model 3 to $35,000

March 01, 2019

We're also excited to announce that we're implementing a number of firmware upgrades for both new and existing customers. The California-based firm also said it would be closing stores and moving to an online-only mode of sale, as well as extending the return policy to allow customers to keep the auto for a week and drive up to 1,000 miles and still get a full refund.

Victoria's Secret closing 53 stores after poor holiday sales

March 01, 2019

Sales for Victoria's Secret have fallen seven percent in the store's most recent quarter as customers seek out lingerie start-ups and big retailers. "Given the decline in performance at Victoria's Secret, we have substantially pulled back on capital investment in that business versus our history, " L Brands said in written earnings commentary.

Fed's Powell sees solid but slower United States economic growth this year

March 01, 2019

Inflation rates dipped to around 1.5 percent in December after spending most of 2018 at or above the Fed's target rate of 2 percent. The US economy will grow at a solid though slower pace this year and the Federal Reserve will remain "patient" in deciding whether to further raise interest rates , Fed chairman Jerome Powell said on Tuesday.

Stocks surge on USA decision to postpone China tariff hike

March 01, 2019

Trump had planned to increase tariffs from ten to 25 percent on 200 billion dollars of Chinese imports into the United States if a deal was not reached between the two countries by Friday. Chinese blue chips scaled their highest in eight months on the back of a 6 percent gain, their biggest daily increase since July 2015. The Dow Jones Industrial average gained 0.2 percent to 26,091.95, while the Nasdaq composite rose 0.4 percent, to 7,554.46.

Venezuela's Juan Guaido in Brazil, Meets EU Officials

February 28, 2019

The U.S. resolution will be voted on first on Thursday afternoon and is likely to face a veto from Russian Federation. The Russia measure, which expresses "concern over the threats to use force" against Venezuela, is unlikely to garner the nine votes necessary for adoption, United Nations diplomats say.

Warren Buffett Blasts Trump in Annual Letter, Max Keiser Blasts Buffett

February 28, 2019

But Buffett said state regulators will have to sign off on the deal before it can go forward. "At Berkshire, we hope to invest significant sums across borders". First, Berkshire has shifted from a company whose assets are concentrated in stocks into a company whose "major value resides in operating businesses".

British MPs Vote on Brexit Amendments as Article 50 Deadline Approaches

February 28, 2019

And a proposal from Conservative backbencher Alberto Costa for a UK/EU treaty to protect expat citizens' rights in the event of a no-deal was passed without a vote. MPs voted against the Labour amendment by 240 votes to 323 votes. Theresa May is trying to negotiate changes to the backstop aspect of her deal, that would keep the United Kingdom inside the customs union and Northern Ireland aligned to EU rules, if no arrangement that could found to avoid a hard border on the island of Ireland ...

Porsche reveals its bestselling Macan SUV is going electric

February 27, 2019

The Taycan is due to arrive in the USA beginning very late this year, with the Taycan Cross Turismo due maybe a year later. Porsche announced on Monday that the next-generation version of the Macan will be only be sold as a fully electric vehicle.

Fiat Chrysler lays groundwork to build electrified Jeep models

February 27, 2019

The new investments announced on Tuesday will create 6,500 jobs in Michigan, Fiat Chrysler ( FCA ) said in an announcement about three months after GM said it would not allocate new products to five plants in North America that mostly produce less-popular sedan models.

Global stocks rise after Trump tariff extension

February 27, 2019

China proposed last week in talks to increase purchases of US commodities by $30 billion a year more than pre-trade war levels. The move followed a solid week. But as the March 1 deadline drew closer, Trump has appeared increasingly eager to make a deal, causing concerns among trade watchers that he was eroding U.S.

Elon Musk's Tweets Aren't Making the SEC Happy

February 27, 2019

Even after the Tweet that finally prompted the SEC into action against Musk, the billionaire doubled down against them. The SEC accused Musk of breaking a deal to seek preapproval of any potentially market-moving tweets about the auto company when he tweeted on February 19 that Tesla would make about 500,000 cars this year.

Man Spends $540 on Cookies to Get Scouts Out of Cold

February 26, 2019

Then he came back to the table. Most people will go the extra mile just to score a few boxes of Girl Scout cookies . In total, this man purchased $540 of Girl Scout cookies, and with a heart as big as his, there's a good chance he's sharing them.

Groupe PSA To Launch Citroen Cars In India By 2021

February 26, 2019

It has been also confirmed that the first Citroen to enter the Indian market will be launched before the end of 2021 after launch of production of powertrain. Phase I manufacturing capacity is pegged at 2 lakh BS6 compliant engines per annum, and and 3 lakh transmission units each year. The company announced that the Citroen brand has been chose to enter the Indian market.

Adani Highest Bidder To Manage Five Airports

February 26, 2019

The AAI had received 32 technical bids from total 10 companies for the above six airports . Sources had told Reuters the victor for the sixth airport , Guwahati, was likely to be announced on Tuesday. The Adani Group has emerged as the highest bidder for developing five out of the six airports for which the Airports Authority of India (AAI) has sought bids.

Terrifying moment British Airways flight swings in the sky above Gibraltar

February 26, 2019

A passenger plane caught in high winds twisted and turned "like a rollercoaster" on the approach to the runway before the pilot aborted the landing, in a moment recorded on video from the ground and by terrified passengers inside. Nobody was harmed in the incident and the British Airways flight managed to land safely. A British Airways plane was filmed tipping from side-to-side when it hit high winds as it flew over Gibraltar yesterday.

An Amtrak train with 183 passengers is stranded in Oregon

February 26, 2019

On Sunday evening, the Amtrak Coast Starlight train 11 was traveling southeast near the tiny town of Oakridge when it struck a tree at around 6:18 p.m. "We can't get off the train because there's four feet of snow in every direction", she told the news station . Crews are expected to reach the train by 06:00 local time, and will then move the train back towards Eugene and Portland, Oregon , Amtrak said in a statement to USA media.

Oil Price Hike Halts and Drops Since Trump's Tweet Today

February 26, 2019

Trump has frequently blamed high oil prices on OPEC while the US has become the world's largest supplier thanks to shale output. Oil prices turned sharply lower yesterday, tumbling more than 3 percent, after President Donald Trump urged OPEC to lower the cost of crude.

Tesla's Elon Musk may be in contempt over tweet

February 26, 2019

His tweet followed a report suggesting Saudi Arabia became a major Tesla shareholder earlier in 2018. A spokesperson for the company did not immediately respond to requests for comment. Both tweets still remain up on his Twitter feed. This means that the lawsuit implies that the SEC is looking for the judge to re-rule the settlement with more restrictions or a stronger set of rules regarding Musk's tweets.

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