Economy / 103

Carlos Ghosn's detention extended until April 22

April 14, 2019

It is unclear when he might be released. In December previous year, the court turned down the prosecution's demand for an extension of his detention after Ghosn was served a second arrest warrant for allegedly violating the financial instruments and exchange law.

Stagecoach 'shocked' at disqualification from three rail franchise bids

April 14, 2019

Stagecoach , which also has a huge bus division, now operates the East Midlands rail franchise between London St Pancras International and destinations including Leicester, Derby, Sheffield, Nottingham, Manchester and Liverpool. He said Virgin was at the top of the long distance franchised operators for customer satisfaction - receiving a 90 per cent customer satisfaction rating in the National Rail Passenger Survey and had almost tripled passenger journeys - from around 14m in 1997 to ...

Disney+: How Much Will The New Disney Streaming Service Cost?

April 14, 2019

We already knew that Marvel was going to have a big presence on Disney +, but with yesterday's official unveiling of the upcoming streaming service we got some official news regarding the live-action series, animated shows, and documentaries which are set to hit the small screen once the service gets underway later this year.

Ontario Tories to unveil first budget since winning majority government

April 14, 2019

A subway extension into York Region will be confirmed, although it won't be completed until after the new Ontario line to prevent overcrowding, the source said. The amount is the "most money ever invested to get shovels in the ground and get new subways built", government officials said in a press release. Watson said the city isn't expecting any transit cash for Stage 2 in Thursday's provincial budget "above and beyond" the province's previously announced contribution.

Delta cuts back how far you can recline your seat

April 13, 2019

And that's a good thing. They claim the move will reduce disruption to other passengers, allow them to pass by for toilet breaks and to use laptops freely. "Being a frequent business flier, my productivity just dies when the person in front of me drops their seat into my lap", aviation security consultant Jeff Price said.

Ten Infant Deaths Linked to Rock 'N Play Sleepers

April 13, 2019

The CPSC says it warned consumers to use restraints in the baby solutions that are inclined-sleep. Safety tips for all infant sleep products/furniture from the CPSC and Fisher-Price: "Never add blankets, pillows, stuffed toys , or other items to the environment and always place infants to sleep on their backs".

National Enquirer Being Shopped By Parent Corp. American Media

April 13, 2019

AMI, Pecker and the National Enquirer have been embroiled in controversies surrounding President Trump. The parent of the National Enquirer said Wednesday that it is exploring a possible sale as part of a "strategic" review of its tabloid business.

Bezos snubs eBay, Walmart in shareholders letter

April 13, 2019

We don't compete with our sellers. Bezos now wants Amazon's competitors to the do the same, proposing what seems like a minimum-pay war. Retail giants and fierce competitors, Amazon and Walmart , traded barbs after Amazon boss Jeff Bezos called on retailers to increase workers' minimum hourly wages.

Infiniti Qs Inspiration Concept Shows Up in First Official Images

April 13, 2019

The Qs Inspiration sport sedan concept follows the QX Inspiration crossover , which made its debut at the 2019 Detroit auto show, and the Q Inspiration sedan that bowed at the 2018 Detroit auto show. In the luxury sector, Infiniti will be rivaling with the top-selling Model S and Model X by Tesla Inc, along with other models due to be released in coming months by Audi, Mercedes-Benz, BMW and Lexus.

Million Fisher-Price Rock ‘N Play Sleepers Recalled After Infant Deaths

April 13, 2019

According to the recall notice , since the product was released in 2009, more than 30 babies have died because of the sleeper, either after they rolled over while unrestrained or in other circumstances. Earlier this week , following the article from Consumer Reports , Fisher-Price said its Rock 'n Play Sleeper "meets all applicable safety standards".

Ontario Budget 2019 to allow purchase of gambling tickets on smartphones

April 13, 2019

Finance Minister Vic Fedeli found himself defending his level of spending, after years of complaining about Liberal largesse. "Our government stands firmly on the side of hard-working taxpayers". It included lower spending on children's and social services even as the Conservatives proposed a new dental program for low-income seniors and a new refundable tax credit for childcare costs that would provide up to C$6,000 per child under the age of 7, and a lesser amount for older children.

Baby sleeper linked to 32 infant deaths, parents warned

April 13, 2019

They say all 10 of the babies were 3 months of age or older. The American Academy of Pediatrics (AAP) calls on the U.S. Consumer Product Safety Commission ( CPSC ) to issue an immediate recall for the Fisher-Price Rock 'n Play Sleeper inclined sleeper, which has been tied to 32 sleep-related infant deaths, according to a new analysis by Consumer Reports .

Chevron To Buy Anadarko In $33B Deal

April 13, 2019

With the acquisition, Chevron gets access to Anadarko's liquid natural gas operations in Mozambique. The United States is also now the third-largest producer of LNG, super-cooled natural gas that enjoys record demand as a cheaper, cleaner alternative than coal for power generation.

Wells Fargo shares fall as bank cuts forecast for interest income

April 13, 2019

Keefe Bruyette wasn't the only research firm that published a report of Wells Fargo & Company, with other equities research analysts also giving their opinion on the stock. That contrasts with J.P. Morgan Chase & Co.'s stock JPM, +4.51% which surged 4.4% to pace the other 65 components gaining ground, after the bank reported a first-quarter profit and revenue that rose above expectations.

Fed still 'patient' on rates, mulling balance sheet policy: minutes

April 13, 2019

After concluding a two-day policy meeting on March 20, the Fed chose to maintain the target range for the federal funds rate at 2.25 percent to 2.5 percent. "Minutes suggest Fed officials are comfortable that the USA economy can weather slowing global growth, but patience is paramount", said ANZ FX/rates strategist Sandeep Parekh.

Tesla's $35,000 Model 3 just got even harder to buy

April 13, 2019

Tesla increased the prices on all the Model 3's because the cars all include Autopilot standard . This Standard Range Plus Model 3 is now the least expensive version available to order online and it now costs $40,700. The company adds anyone who decides to software-limit a Standard Range Plus to Standard Range specification can do so (at any time) and receive a refund for the difference in costs.

Stop & Shop workers walk out after negotiation impasse

April 12, 2019

But what does all of this mean for the average Stop & Shop customer? How is my store affected? Stop & Shop stores in West Hartford were closed Thursday afternoon when workers walked out and began a strike. How big of a deal is this? . Striking Lynn workers had varied views on how long they can stay out of work. However, the union hasn't exactly kept quiet about their concerns.

House of Representatives passes Save The Net Act to restore Net Neutrality

April 12, 2019

Net neutrality is back in the spotlight. That's a Washington way of saying it would reinstate the Obama-era net neutrality regulations the Federal Communications Commission voted to repeal in December 2017. The latest legislative effort comes amid a legal showdown over the repeal. Regardless of what happens in the Senate, however, the Trump administration sent out a clear veto threat Monday.

Sterling Tiptoes Up As PM May Seek Brexit Delay

April 12, 2019

While the Pound's movement has been limited on uncertainty over whether a Brexit will be delayed or not, the New Zealand Dollar has been unappealing recently. This has been due to a mixture of US Dollar (USD) weakness, as well as stronger United Kingdom data. The Reserve Bank of New Zealand (RBNZ ) has indicated that it could cut New Zealand Dollar exchange rates in the foreseeable future, with some investors betting it could happen as soon as the coming months.

Geoffrey Cox says ministers will 'listen' to demands for second Brexit referendum

April 12, 2019

Britain had been due to leave the EU on Friday, but May rushed to an emergency summit in Brussels to plead with her European counterparts to hold off on saying goodbye for a couple more months. May has said that if she can not reach a Brexit deal with the opposition, she hopes to persuade them to sign up to some process of parliamentary votes, which both sides would then agree to abide by.

Jet's EoI submission date extended

April 12, 2019

The country's largest oil marketing company (OMC) Indian Oil Corporation (IOC) has once again stopped fuel supply to Jet Airways . Potential bidders can send their queries till April 11, it said hours before the Wednesday deadline for the submission of bids was to expire.

Ultrafast, air-breathing rocket engine moves a step closer

April 12, 2019

British engineers have made a breakthrough in their effort to develop a "spaceplane" that could travel between NY and London in less than an hour. The testing was created to directly replicate supersonic flight conditions. The machine weighs 1,250kg - and has already been successfully tested using a Viper jet engine in 2012, cooling the Viper's exhaust to cryogenic temperatures.

Jet Airways cancels flights on worldwide routes

April 12, 2019

Jet now has just 12 aircraft flying, with the company stating that it has grounded 10 more planes. Mumbai: With lessors grounding more Jet Airways (India) Ltd planes , the airline suspended all of its global flights till Friday morning, even as a government official said the airline's eligibility to fly overseas might be reviewed given that its fleet size had fallen below the required minimum.

Tesla Gigafactory expansion reportedly on hold as Panasonic ponders the future

April 12, 2019

Nikkei's report claims that it's now too risky to make major investments like those mentioned, blaming the pause on both thin operating margins in the industry and EV sales that are "performing below plans". Neither company had made public detailed future development plans for the site, although Panasonic said here in July a year ago it would consider further investment in the Gigafactory if requested by the US electric carmaker.

High Expectations Overshadow Uber's IPO Filing

April 12, 2019

If successful, Uber would attain a valuation of between $90 million and $ 100 billion and the largest tech IPO since Chinese e-commerce business Alibaba in 2014. A #DeleteUber campaign surged on social media in 2017 after a public relations crisis, which Uber said in its filing meant hundreds of thousands of consumers stopped using its platform within days.

Aramco breaks record as demand for its bond tops $85 billion

April 12, 2019

Sergey Dergachev, functional head of EM corporate debt at Union Investment, said he expected the bond to have four tranches of three, five, 10 and 30 years and to range between $10-billion and $15-billion in size. Books on Saudi Aramco's United States dollar bond offering have swelled to more than US$60bn, four investors told IFR on Monday. The offering also includes a three-year floating rate bond.

Thousands of Amazon workers hired to listen to recordings from Alexa

April 11, 2019

E-commerce major Amazon is the leader of this space as the company offers plethora of Alexa-enabled Echo smart speakers . Wired wrote that adding in support for "transfer learning", where Alexa tries to apply previously learned skills to new ones, has helped developers "cut down on the grunt work they'd otherwise face".

Yahoo's data breach settlement has now been revised to $117.5 million

April 11, 2019

Yahoo has reportedly reached a revised $117.5m (£89.7m) settlement with millions of victims whose email addresses and other personal information were stolen in the largest data breach ever recorded. Verizon has since written off much of the almost $4.5 billion price for the Yahoo acquisition in sign of the eroding value of that business. Well, now Yahoo has come back with an improved offer, which will involve the company paying out $117.5m.

Equal pay day: Exploring Michigan's wage gap

April 11, 2019

In creating a better future for the construction pay gap, there are various ways of bringing more balance to the work place, for example, lowering the 9-5- hour day expectations by altering the work shifts to make the working day more achievable for working mothers and fathers.

Venezuela, Saudi Oil Output Slumps, Says OPEC

April 11, 2019

Worldwide benchmark Brent futures were at $70.66 per barrel at 0158 GMT, up 5 cents from their last close. U.S. West Texas Intermediate crude oil futures rose 64 cents, or 1%, to $64.62 per barrel, holding just below their strongest level since November.

Google Wing Delivers Food, Meds to Australians Via Drone

April 11, 2019

Project Wing , a subsidiary of Google parent company Alphabet, has been testing self-flying delivery drones in Australia for over a year. Project Wing estimates that they will deliver 25 percent of all food delivery orders and as much as 6 percent of all purchases in the Canberra metropolitan area by 2030.

China says it wants to eliminate bitcoin mining

April 10, 2019

The National Development and Reform Commission (NDRC) is now seeking public opinions on a revised list of industries it wants to either encourage, restrict or eliminate. While cryptocurrency mining might require large amounts of electricity, Bitcoiners often argue it's not necessarily wasteful or polluting. It's estimated Chinese miners account for around 70% of global Bitcoin mining output.

Take Selfie at Phuket Airport Beach, Expect The Death Penalty

April 10, 2019

Mai Khao beach on Thailand's island of Phuket is the name of the place. Authorities in Phuket, Thailand are working to curb the number of visitors that flock to the famed Mai Khao beach, a picturesque location that has become popular thanks to its close proximity to Phuket International Airport.

United Kingdom set to lose European commissioner role over Brexit delay

April 10, 2019

The vote was carried by 420 votes to 110 , a majority of 310, on the back of overwhelming support from opposition MPs for a Brexit delay. "If the United Kingdom is still a member of the EU on 23-26 May 2019 and if it has not ratified the Withdrawal Agreement by 22 May 2019, it must hold the elections to the European Parliament in accordance with Union law", the draft said.

Gas prices continue to rise nationwide

April 10, 2019

The websitegasbuddy.com studied gas prices from January through March across the country. What holds true for most places, according to the study, is that filling up earlier in the week is generally cheaper. "On the week, motorists in the West Coast, Rockies, Great Lakes and Central regions are seeing some of the largest weekly increases while prices mostly east of the MS have made more moderate jumps".

Burger King Slammed on Social Media Over Chopsticks Ad

April 10, 2019

In response to the promotion, one social media user reposted the ad on Twitter alongside the caption [ sic]: "So this is the new Burger King ad for a "Vietnamese" burger ok coolcoolcoolcoolcool CHOPSTICKS R HILARIOUS right omg etc". Dolce & Gabbana was forced to cancel a fashion show in China and social media users threatened a boycott over the campaign. "But since this is for an ad for a Vietnamese hambuger (sic) this isnt amusing it's racist", said another person .

International Monetary Fund cuts global growth outlook to lowest since financial crisis

April 10, 2019

Earlier in January it had reviewed the statistics downwards to 2.0 percent from initial figure of 2.3 percent referencing challenges in the worldwide oil prices. China is projected to grow at 6.3% and 6.1% in 2019 and 2020 respectively. The global lender's World Economic Outlook projected Iran's economy will shrink by a massive 6.0 percent this year, its worst performance since it contracted by 7.7 percent in 2012.

San Antonio's Ben & Jerry’s Offering Endless Ice Cream During Free Cone Day

April 10, 2019

Today Ben & Jerry's will be giving away ice cream so that customers can enjoy a scoop of any flavour on the menu. On Free Cone Day , RMYA reps will be on-site to scoop your favorite flavors, share programming info and answer any questions.

UK Government, Opposition Continue Search For Brexit Plan

April 10, 2019

Speaking to ITV's Peston programme he said: "Some ideas have been put forward which are not deliverable, they are not negotiable but the confirmatory referendum idea, many people will disagree with it, I'm not sure there is a majority in parliament for it, but it's a perfectly credible proposition and it deserves to be tested in parliament".

Bank of America Raising Its Minimum Wage To $20 An Hour

April 09, 2019

Paychecks will initially be raised to $17 an hour starting May 1, before climbing incrementally until 2021. "Saying thank you, celebrating great work, and sharing our success further demonstrate our commitment to being a great place to work".

Sports Direct offers to fund Debenhams' rescue in return for CEO job

April 09, 2019

Debenhams' shares soared 12.74 per cent on the news, but their value is so low that was only equivalent to a 0.26p rise to 2.30p. Mouhammed Choukeir, chief investment officer at Kleinwort Hambros, said: 'It's been a rough ride for shareholders'.

Wynn makes $7.1 billion buyout play for Australian casino giant Crown

April 09, 2019

Crown Resorts now owns two casinos in Australia, namely in Melbourne and Perth. Crown shares jumped 21 percent to A$14.19, their biggest intraday gain since the company re-listed with its current name. A spokesman for Consolidated Press Holdings Pty Ltd, which holds Mr Packer's stake in Crown, was not immediately available for comment. While Wynn offered a chunky 26 percent premium to Crown's last share close, a deal would hand the Las Vegas-based company a once-formidable rival at a ...

Debenhams has gone into administration

April 09, 2019

DEBENHAMS has been placed into administration and the retailer's lenders have seized control of the company. FTI Consulting has been appointed to carry out the process but the firm insisted that stores will continue to trade as normal. The deal comes after Debenhams struggled to adapt to the switch towards shopping online, held back by a heavy debt burden and large stores on long leases.

Pinterest IPO: Pinterest lowballs IPO valuation, setting price below recent valuation

April 09, 2019

Pinterest is offering 75 million Class A shares. It has raised over $1.5bn in investment since it was founded. The terms puts the offering size at between $1.1 billion and $1.2 billion, with a market cap of $7.9 billion to $9 billion. This quarter Pinterest is expected to lose $55 million in their operations but admits they are in the early stages of monetization in their platform, so they anticipate making adjustments over time that attract more advertisers and "Pinners" (regular Pinterest ...

Ex-Nissan boss Ghosn alleges conspiracy

April 09, 2019

Prosecutors took the highly unusual step of re-arresting Ghosn last week on fresh allegations that he used company funds to enrich himself to the tune of $US5 million. "Frankly, sitting down around the table, being consensual about decisions, this is not a vision in an industry which is as competitive as the current industry", Ghosn said.

'Fiat to pool with Tesla to avoid European Union fines'

April 09, 2019

According to PA Consulting, FCA's average fleet emissions were 120g/km past year and, prior to this announcement, was expected to be 6.7g/km over the target in 2021. "The purchase pool is providing flexibility for delivering products that FCA's customers are willing to purchase while managing compliance using the lowest cost approach", said an FCA spokesperson in a statement ( source ).

NY Couple Vanishes While on Vacation in the Caribbean

April 09, 2019

Customs and they said my brother did not make his flight back here". The last picture they are believed to have posted to social media shows them riding horses during the vacation. Due to privacy considerations, however, they could not offer much information and referred any questions pertaining to the investigation back over to local authorities in the Dominican Republic.

New pollution charge begins in London

April 09, 2019

The charge also applies to some older but low-powered vehicles while the latest, high-cost, fuel-thirsty supercars escape the charge. In a survey of 2,000 across the UK, Nissan found that only one in three were aware of the ULEZ going live from today, yet nearly half of all respondents support the daily charge's introduction.

Trump wants Fed to keep interest rate low

April 09, 2019

Moore was an adviser on Cain's presidential bid and advised Trump for his 2016 campaign. Cain, who served as chairman of the Federal Reserve Bank of Kansas City, ran unsuccessfully during the 2012 presidential nomination. "He wants people on the Fed who share his philosophy". At the beginning of his term, Mr Trump had more traditional choices such as Mr Richard Clarida or Mr Randal Quarles, both US Treasury Department economists.

Parliament OKs law barring Brexit without deal

April 09, 2019

Labour's Brexit point man, Keir Starmer, said May's government had so far not changed its position on Brexit and so no way forward had been agreed. Rees-Mogg warned that the decision to meet with the hard-left opposition leader "risks giving a degree of credibility" to Jeremy Corbyn and of "undermining the general thrust of the Conservative argument that he is a Marxist who would be unsafe to this nation's interests".

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