Economy / 88

Is the SEC Infringing Elon Musk's Free Speech?

March 19, 2019

The Securities and Exchange Commission, in a court filing on Monday, said a tweet Elon Musk published in February was a "blatant violation" of a $US40 million court settlement that requires Tesla to appoint a " Twitter czar" who would vet his tweets for information material to the company before publishing.

Paris, Hong Kong and Singapore ranked most expensive cities in the world

March 19, 2019

The ten most expensive cities in the world. London and Manchester, the two United Kingdom surveys included in the index, fell significantly in 2017 after the country's Brexit referendum, and only ranked higher up in 2018 and 2019 respectively due to other cities scoring lower than in previous years.

Jobs threat could derail Deutsche Bank merger with Commerzbank

March 19, 2019

A merger of Deutsche Bank and its rival Commerzbank could result in as many as 30,000 job cuts over the long term, a representative of German union Verdi who is a Deutsche supervisory board member told n-tv broadcaster. Commerzbank described the outcome as open. The merged bank would have roughly €1.8 trillion in assets, such as loans and investments, almost as big as France's largest bank BNP Paribas.

Tesla Model Y gets Fisker Inc. rival

March 19, 2019

This vehicle will be the first of three "affordable" EVs sold by Fisker , which says that its previously announced EMotion electric sedan concept has been delayed until after the first of the company's "affordable" models hits the market.

Qualcomm wins Apple patent infringement case

March 19, 2019

Maxell Patent 8,339,493: According to Maxell, Apple's back side cameras on iPhones from the iPhone 5s through to the iPhone XS Max infringe on their camera patent. Apple's contract factories, which under normal circumstances would pay Qualcomm for patent royalties owed on iPhones, have already withheld the almost US$1 billion in payments to Qualcomm.

RCom pays Rs 458.77 crore to Ericsson

March 18, 2019

Separately, Ericsson has received 4.62 billion rupees ($67.42 million) from Indian telecoms firm Reliance Communications Ltd , the Swedish company said on Monday, potentially saving billionaire Anil Ambani and two RCom directors from a jail term.

Trump pressures GM over OH plant closure, wants it ‘open now’

March 18, 2019

Trump acknowledged his conversation with Barra in a tweet Sunday after he fumed in other tweets about the Lordstown, Ohio, plant shutting down. Trump said Barra blamed sluggish action on the UAW union. I asked her to sell it or do something quickly. In a statement to The Wall Street Journal , GM said the future of the factories will be decided during negotiations on a new four-year contract with the UAW, which are scheduled to begin this summer.

Interserve faces administration as rescue talks fail

March 18, 2019

However, New York hedge fund Coltrane, Interserve's largest shareholder with more than 27%, dismissed the plan, which was eventually rejected by over 59% of shareholders. If no rescue plan is approved the company is likely to go into a pre-pack administration, which would wipe out shareholders entirely but allow the firm to keep operating.

Powerball goes winless again, jackpot tops $500 million

March 18, 2019

Easter time on Saturday, has a $495 million jackpot, with a cash value of $300.2 million. It's the eighth-largest jackpot in the game's history. Wednesday's winning numbers were: 18, 36, 45, 47, 69 with the Powerball number 14. Four white balls and the Powerball will make you a new "thousandaire" with a $50,000 prize. The Powerball has gone 21 consecutive drawings since December without a jackpot victor.

CBOE Future Exchange (CFE) Restricted Bitcoin Futures Temporarily

March 18, 2019

The remaining futures listed on the exchange will continue to trade, with the last month contract now for June expiration. The exchange noted, however, that "currently listed XBT futures contracts remain available for trading" - meaning existing futures listed last month (XBTM19) will continue to run until June.

Oil prices stable as US sanctions against Venezuela, Iran create deficit

March 17, 2019

This led to the US taking a number of steps in the 1980s to take away OPEC's monopoly in determining oil prices, and the USA has strengthened global commodity markets with Chicago and NY. The United States is now & # 39; the world's largest oil producer thanks to the oil-rock revolution that it is going to form by 2020 a net exporter of crude and refined products.

VW CEO reportedly mimicked an infamous Nazi slogan during a company event

March 17, 2019

The "Arbeit macht frei " phrase is from the National Socialist regime led by Nazi leader Adolph Hitler and was placed at the entrance of several concentration camps, including Auschwitz and Dachau. During World War Two, the Wolfsburg-based firm manufactured vehicles for the German army, using more than 15,000 slave labourers from nearby concentration camps.

Jaguar Land Rover to recall 44,000 vehicles over excessive diesel emissions

March 17, 2019

Recalls of cars to fix safety defects happen fairly often, but full product recalls because of exhaust emissions are rare. In a statement, JLR said: 'Affected vehicles are being rectified to ensure the correct Carbon dioxide performance is dependably achieved.

China's industrial production slows; unemployment up

March 17, 2019

China's daily steel output rose in January and February, as mills in the world's top producer ramped up production amid firm steel margins and easier environmental restrictions. It rose 11.6 percent in January-February from a year earlier, up from the 9.5 percent growth reported for the 2018 full year, data from National Bureau of Statistics (NBS) showed on Thursday.

SoftBank, Toyota in talks to invest $1B in Uber's self-driving unit

March 17, 2019

Lyft, by contrast, said in its prospectus that its 2018 revenue totaled $2.2 billion and a loss of $911 million, which according to Axios would be the largest loss ever for a company entering the public markets for the first time. Ride-hailing giant, Uber Technologies Inc.is reportedly in talks with investors, including SoftBank Vision Fund, to sell its self-driving vehicle unit stake for around $1 billion.

United Kingdom cuts growth forecast

March 16, 2019

Hammond added that the United Kingdom economy was expected to grow by 1.4 percent in 2020, unchanged from the government's October forecast. Later in the day, the United Kingdom parliament voted down a no-deal Brexit but May warned the legal default in European Union law remains that "the United Kingdom will leave without a deal unless something else is agreed".

Pi Day offers discounted pizza and more

March 16, 2019

Your Pie - Your Pie will have 10 inch pizzas on sale for $3.14 on Pi Day . Guests can buy one thin crust pizza and get a second one for $3.14, and members of the Pie Life loyalty club get a $2 reward for their next visit. Hungry Howie's: Get a medium 1-topping pizza for $1 with the purchase of a large 1-topping pizza at regular price. Marie Callender's will offer a free slice of pie with the purchase of a full-price adult entree.

Jury awards $29M in J&J baby powder cancer case

March 16, 2019

The jury decided against awarding punitive damages, which are created to punish the defendants - in this case Johnson & Johnson and the other companies involved in making the talcum powder - for reckless or negligent behavior. This suit is the first to go to trial since December articles by Reuters and The New York Times alleged the company feared for years that its baby powder might contain asbestos .

Spotify files European Union antitrust complaint against Apple over App Store

March 16, 2019

Complicating things, there are plenty of transactions that flow through iOS that Apple doesn't extract it's 30 percent from - rideshare services and food delivery apps, for instance (the most obvious distinction is that these apps facilitate physical purchases, not just the purchase of digital goods and services).

Renault, Nissan, Mitsubishi unveil new joint board

March 15, 2019

Ghosn stands ready to fulfill his professional duties to the shareholders who elected him", the statement said. Nissan is considering naming Sadayuki Sakakibara, former chairman of the Japan Business Federation and co-chair of a Nissan government committee, as the chief of the board.

Alexandria Ocasio-Cortez Grills Wells Fargo CEO Over Financing ‘Caging of Children’

March 15, 2019

Rep. Patrick McHenry, the ranking Republican on the committee, noted that after one scandal has erupted at Wells Fargo another followed. "And in a securities filing this month, Wells Fargo said it could be required to pay as much as $2.7 billion more than it had set aside as of the end of December to resolve legal cases, including ongoing probes by the Justice Department and the Securities and Exchange Commission".

Woman almost kicked off Thomas Cook flight over crop top

March 15, 2019

Emily added she felt she was targeted as there was a man sat behind her wearing pair of shorts and a vest. "I was so upset and they could clearly see that yet they continued to note how inappropriate and offensive I was". Or an even bigger question still, why does anybody give a flying (yes I know what I did there) fuck what anybody else wears? She also thanked people for the support, posting on Twitter: "Just a quick message to say thank you to everyone that has stuck up for me".

Seven-seat Tesla Model Y revealed with 300-mile range

March 15, 2019

The Tesla Model Y will be based on the Model 3 . Still, the Model Y, like all Tesla's models, has already seen pre-production delays. Or so says Tesla CEO Elon Musk in a recent tweet. Tesla would "most likely" build the Model Y at Tesla's battery factory in Nevada, he said. Compact SUVs are the largest vehicle segment and is 50 percent larger than the next-largest segment.

Legacy making merger: Disney-Fox mega-deal set to close March 20

March 15, 2019

The RSNs are now in the process of being shopped, and bidders have included Amazon, Apollo Global Management, KKR&Co, The Blackstone Group and Sinclair Broadcast Group . The Murdochs also will retain the legendary Fox Studios lot on Pico Boulevard near Century City. Like with Brazil last month, the main sticking point was Disney's putative ownership of Fox Sports given the importance of soccer rights; the combination of Fox and Disney's ESPN was also viewed warily by regulators in the USA ...

Crude Inventories Pale, Oil Prices Extend Gains

March 15, 2019

Several factors contributed to the idea of a tightening market, including the Energy Information Administration reporting on Wednesday that US crude inventories fell by 3.9 million barrels last week. Brent crude hit a 2019 peak of $68.14 per barrel before falling to $67.93 by 1250 GMT, up $0.38 or 0.56% from Wednesday's close. Meanwhile, US sanctions have helped slash output from OPEC members Venezuela and Iran .

Facebook loses two key executives

March 15, 2019

Facebook Inc's chief product officer and one of its earliest employees, Chris Cox, said on Thursday he is leaving the company, just days after Chief Executive Officer Mark Zuckerberg revealed a plan to pivot the world's biggest social network to an encryption-focused messaging company.

New investment at Toyota WV is $111 million, 123 anticipated jobs

March 15, 2019

Gov. Jim Justice and Senator Joe Manchin, speaking separately on MetroNews' "Talkline", confirmed a major investment at West Virginia's Toyota plant. Toyota's latest announcement is an add-on to a plan first announced in 2017. Toyota will be one of and more than 200 employers at a job fair planned from 11 a.m.to 3 p.m. on March 22 at the Charleston Coliseum and Convention Center.

Elon Musk Delivers A Speech To SEC

March 15, 2019

Tesla CEO Elon Musk said the new electric SUV will be 10 percent larger than the Model 3 four-door sedan and cost 10 percent more, placing it somewhere near $40,000. Musk's legal professionals argued this push was an "invitation to trample on Musk's First Modification rights and grant the SEC far broader powers than approved by Congress".

Facebook's massive outage was the result of a server configuration change

March 14, 2019

Facebook's desktop platforms and apps were affected in parts of the USA, including the East and West Coast, as well as parts of Europe and elsewhere. The company said it has fixed the glitch. This is an important draw for people concerned with their privacy online, particularly in light of the fact that Facebook, Inc.is reportedly now under criminal investigation for secret data sharing deals.

Markets Right Now: Stocks end mostly higher; Boeing falls

March 14, 2019

OK, but why would Boeing's very bad day affect the Dow so much and not the S&P? Stocks are opening mostly higher on Wall Street, led by gains in technology companies and banks. Apple is up 3.2 per cent after an analyst upgraded the stock, while Nvidia is gaining 4.7 per cent after announcing an acquisition. Stocks were helped by a USA government report showing retail sales rose slightly in January.

Hiring to decline in second quarter: Manpower

March 14, 2019

On a global basis, hiring intentions remain positive for the second quarter, with 40 of 44 countries surveyed in the report planning to increase headcount. This is the seventh consecutive year of double-digit hiring Outlooks in the US, according to the survey of more than 11,500 USA employers. When compared with this time one year ago, employers report weaker hiring intentions in six of the 10 industry sectors .

Calgary Police Seek Information About Suspects in $145k Bitcoin ATM Scam

March 14, 2019

Calgary police have released security video images of four suspects in a nationwide bitcoin fraud. The four suspects are believed to have made a total of 112 fraudulent transactions in Calgary, Toronto, Ottawa, Winnipeg, Hamilton, Sherwood Park, and other locations.

Powerball results for 03/13/19; did anyone win the $448 million jackpot?

March 14, 2019

Powerball fever is heating up again, thanks to a lottery jackpot that is now over $400 million. The cash value lump sum is an estimated $300.2 million. Two of those tickets were sold in NY and are worth $1 million each. Drawings for Pick 3, Pick 4 and Pick 5 are twice daily, at 12:29 p.m. and 7:29 p.m.

Celebrating Pi Day? Pizza company offering $3.14 deal on Thursday

March 14, 2019

We're talking free pie, pizza on the cheap, buy-one-get-one pies, and more, for one day only. All 320 Blaze Pizza locations across the country will be celebrating their sixth annual Pi Day by offering $3.14 whole pizzas all day long on March 14.

Sterling jumps after no-deal Brexit rejected; dollar softer

March 14, 2019

The UK's benchmark FTSE 100 closed flat, FTSEurofirst 300 ended the day up by 0.63 percent, Germany's Dax ended up by 0.5 percent, and France's CAC finished the up by 0.7 percent. This is the latest sign of benign inflation, supporting the Federal Reserve's wait-and-see approach to further interest rate hikes this year.The euro was up 0.41 percent at $1.1332.

Inflation remains tame in February

March 14, 2019

The low level of inflation also gives the Federal Reserve more flexibility in holding off on further increases to a key short-term interest rate, enabling the USA central bank to provide support for economic growth. The CPI increased 1.6% on a year-on-year basis in January. Monthly inflation was 0.2 percent compared last month to January after being flat for three months, matching economists' expectations.

Oil prices rise on OPEC supply cuts, USA sanctions on Iran, Venezuela

March 14, 2019

America will add 4m barrels per day (bpd) of oil, mostly from the prolific Permian Basin in Texas. Six analysts polled by Reuters estimate they rose 2.9 million barrels last week. The so-called OPEC+ alliance, including Russian Federation and other producers, agreed in December to reduce supply by 1.2 million bpd from 1 January for six months, which will help to boost oil prices after last year's downward trend.

Trump announces plan to ground all Boeing 737 MAX planes

March 14, 2019

Earlier in the day, an Ethiopian Airlines spokesman said that the black boxes of the Boeing 737 Max 8 would be sent to Germany for analysis. The Trump administration had continued to resist growing domestic and global calls to ground the 737 Max 8, even as Trump discussed the issue Tuesday in a phone call with Muilenburg.

Verizon Announces First 5G Cities, And This Is How Much You'll Pay

March 14, 2019

Verizon is tacking $10 per month onto its Go Unlimited, Beyond Unlimited and Above Unlimited plans for the opportunity to utilize its new 5G network. In Minneapolis, the initial coverage areas are Downtown West, Downtown East, Elliot Park and close to the Verizon store in the Mall of America.

Volkswagen to Launch 70 Electric Cars by 2028

March 13, 2019

Volkswagen (vlkpf) is to cut up to 7,000 jobs by 2023 so that it can increasingly focus on electric vehicles and production automation. At the VW brand, executives aim to lift their profit margin to 6.0 percent by 2022, compared with 3.8 percent past year.

Dick’s Sporting Goods Will Remove Guns from 125 Stores Amid Declining Sales

March 13, 2019

The move comes after a test in 10 stores late past year. "For 2018, we delivered earnings near the high end of our expectations, which represents an 8% increase over past year". The company's 2018 revenue was down nearly 2 percent to $8.4 billion, a dip that Stack has attributed to slower firearm sales, a change in Under Armour Inc.'s distribution strategy and weak performance in electronics sales.

Son’s ‘sad’ tweet boosts business for dad’s new doughnut shop

March 13, 2019

But Billy's dad wasn't "sad" for long. In a sickeningly sweet and heartwarming twist of fate, the tweet went viral and Twitter , for a few moments at least, banded together to spread the good word about this mom-and-pop operation in need of help.

Honda Canada Is Recalling 84,000 Cars That May Have Explosive Airbags

March 12, 2019

The recalls are part of the largest series of automotive recalls in USA history. Honda says that it has replacement parts available for affected owners, "all from alternate suppliers", and will begin conducting free repairs immediately.

Infiniti will exit western Europe to focus on US, China

March 12, 2019

It's part of a bigger plan that involves pulling the Infiniti brand out of Western Europe. The company's operations in Eastern Europe, the Middle East and Asia will not be impacted by the restructuring plan. Infiniti intends on electrifying its portfolio by 2021, which might not be fast enough for Europe's liking. It is unknown if the report of reduced operating hours is linked to the Infiniti decision.

GE Salmon Cleared for U.S. Dinner Plates

March 12, 2019

But in 2016 , Congress asked the agency to block the salmon from being sold while lawmakers were agreeing on labeling guidelines aimed at informing consumers about the production of engineered foods. However, Wulf added that it has been hard to engage in sales discussions with companies since the ban, but she said limited quantities have been sold in Canada, where it doesn't have to be labeled as "genetically modified".

Court rejects Ghosn's request to attend Nissan board meeting

March 12, 2019

The new board structure will be headed by Renault Chairman Jean-Dominique Senard and replaces two previous bodies based in the Netherlands - one joining Renault and Nissan , the other combining Nissan and Mitsubishi Motors. "We have made a decision to join our forces again to enhance the strength of our collaboration", Senard said. The MoU said Senard should be "a natural candidate for the position of vice chairman and a representative director of Nissan ".

Crude oil prices bounce 0.13% on global cues

March 12, 2019

Brent crude futures were at $66.21 per barrel, up 47 cents, or 0.7 percent. Crude has rallied this year after the Organizaton of the Petroleum Exporting Countries and its allies including Russian Federation, a group known as OPEC+, returned to supply cuts as of January 1.

Facebook Drops Elizabeth Warren’s Anti-Big Tech Campaign Ad

March 12, 2019

In a statement released to The Hill , Facebook insisted it removed the ads because of improper use of its logo but made a decision to restore them in "the interest of allowing robust debate". "We break them apart, that backs up the influence a little bit, and it makes absolutely sure that they're not engaged in these unfair practices that stomp out every little business that's trying to get a start".

Trump expected to seek $8.6B for border wall in new budget

March 12, 2019

But Trump's proposed Medicare savings are more than three times as large as those in his previous budget, and industry lobbying groups said the reductions would hurt hospitals and seniors. It seeks to cut $220 billion from food stamps over the course of a decade , once again promoting the Trump administration's widely panned harvest box proposal , which would take billions in SNAP benefits that are spent in grocery stores and divert the money to supplying low-income people with boxes of ...

Tesla backtracks on recently-announced plan to close its stores

March 12, 2019

Tesla will raise the price of its vehicles after going back on a recent decision to close most of its stores. "Over the past two weeks we have been closely evaluating every single Tesla retail location, and we have chose to keep significantly more stores open than previously announced as we continue to evaluate them over the course of several months", Tesla said in a statement .