Economy / 28

Cuphead is being ported to another platform this summer: the Tesla!

June 03, 2019

The warning comes after Tesla's share price slumped to a two-and-a-half-year low, after scepticism over the demand for its Model 3 Sedan. " It's a cool game ", he continued. Musk also mentioned that a "dune buggy" driving game is being tested. Thanks to memory restrictions, only a small part of the game is up and running - Inkwell Isle One , the game's opening section.

Trump says top economic adviser Kevin Hassett leaving administration

June 03, 2019

Hassett, a 57-year-old Republican from MA, was sworn in on September 13, 2017 as the 29th chairman of the Council of Economic Advisers. A longtime conservative economist, Hassett helped shape the 2017 Republican tax law and has been a staunch defender of the president's policies on a number of other issues.

Google may face US antitrust probe

June 03, 2019

The US Justice Department is readying an investigation into Google, according to widespread media reports. Google was again subject to investigation by the FTC in 2013, though the case was closed with a unanimous vote by five FTC commissioners.

Tesla’s Chinese-Made Model 3 Gets $47,000 Starting Price

June 03, 2019

Investors are focused on whether the gross profit margin on the Model 3 will remain at around 20 percent in China. " Tesla should have further lowered the price by $10,000", Xpeng chairman He Xiaopeng said on his WeChat account, adding that Xpeng's cars were on par with the Tesla Model 3 in terms of battery quality and operating system.

YouTube, Snapchat, Gmail experiencing connection issues in eastern US

June 03, 2019

Google Search was still functioning normally as of 4 p.m. Sunday, but GMail and its associated apps were shown as out of commission on the G Suite Status Dashboard . PT. Update, 2:25 p.m. PT: Adds comment from Google and background on Google Cloud. Google users have been venting their frustration on other platforms as the outage has affected many, from inability to access YouTube to disruption of workflows.

Trump steps up attacks on Mexico, tariff threat called 'deadly serious'

June 02, 2019

Chamber Executive Vice President Neil Bradley said the top priority for both the chamber and the Trump administration, is passing the U.S. -Mexico-Canada free trade agreement. He did not say what gave him reason to believe this, though he noted that his government had contacted both US Secretary of State Mike Pompeo and Jared Kushner, Trump's son-in-law and adviser.

China to investigate whether FedEx harmed client interests

June 02, 2019

It gave no names. It issued the threat after Washington last month put Huawei on a blacklist that effectively blocks US firms from doing business with the Shenzhen-based telecoms equipment maker. The issue has become a flashpoint in an escalating trade battle between the world's two biggest economies. Beijing's move hits US$60 billion worth of U.S.

Oil heads for biggest monthly slump this year on trade-war fears

June 02, 2019

During the week, WTI and Brent moved in the same direction. Crude headed for the second week of declines in May as President Donald Trump's threats to impose tariffs on Mexico, which is the largest recipient of United States oil exports, added to concern that a worsening trade environment would undermine global energy demand.

Mark Zuckerberg's security chief faces racism complaint

June 02, 2019

The former members allege that Booth repeatedly made racist remarks about Zuckerberg's Asian American wife, Priscilla Chan. Other members of the staff were reportedly subjected to a series of sexual and verbal harassment. Zuckerberg was made aware of the allegations against Booth after receiving notice from the Los Angeles based office of The Bloom Firm , which represents two former employees of Zuckerberg's staff.

Jaguar Land Rover sensory steering wheel uses hot and cold for navigation

June 02, 2019

The automaker said that it's also adapted this temperature-shifting technology to work with gear shift paddles, which could inform a driver that the swap between human and computer control is complete. Thermal cues can also be used in areas where audio feedback is deemed too disruptive to conversations in the auto or media playback. "The " sensory steering wheel " is all part of this vision, with thermal cues able to reduce the amount of time drivers have to take their eyes off the road".

Powerball results for 06/01/19; 1 victor sold for $344 million jackpot

June 02, 2019

Two players, though, one in NY and one in New Jersey, matched five of the numbers to win $1 million each, Mega Millions officials said on its website. In New Jersey, a third prize-ticket worth $50,000 was purchased at Rotundo's Liquors Deli & Fine Food on Lake Avenue in Clark. On Wednesday, no one matched the numbers 3-32-34-42-61 and Powerball 4.

Legal & General Group Plc to sell its General Insurance business to Allianz

June 02, 2019

In 2017Allianz made its first major foray into the British insurance market, buying a 49% stake in LV's general insurance business , to become the third biggest insurer in the market. The bulk of the business being bought concerns home insurance, with a small book of pet insurance. "Both deals seem to us financially and strategically sensible".

United Kingdom house price growth cools unexpectedly in May - Nationwide

June 02, 2019

House prices have fallen 0.2 per cent in May according to new figures from Nationwide . According to data released by Nationwide, house prices in Britain grew at a surprisingly low rate of 0.6% in May, down from 0.9% in April - touching the slowest growth rate in three months.

US regulators divide scrutiny of Amazon and Google

June 02, 2019

The Google logo is pictured at the entrance to the Google offices in London, Britain on January 18, 2019. Justice Department spokespeople couldn't immediately be reached. In the past, various Department of Justice officials have expressed similar concerns regarding how much influence companies like Google have in the American economy.

Chevron sells UK North Sea assets for $2B

June 02, 2019

Upon completion, the group's enlarged portfolio will encompass 18 producing fields. Now holding stakes in sixteen fields, the enlarged Ithaca business is expected to produce some 80,000 barrels oil equivalent per day at an average operating cost of US$17 per barrel.

The investor wants to buy 25% of all bitcoins

June 02, 2019

Dadiani continues to relay that her firm doesn't deal with people who are not "clients of reputable banks", adding, "We are market makers, coordinators of these trades". At current prices , that would be equal to nearly $37 billion. Over 4.4 million virtual BTC coins (equivalent to $ 36 billion at the current exchange rate) are planned to be bought by an unknown investor.

Facebook CEO, CFO to dodge Canadian hearing

June 01, 2019

Instead, the company has made a decision to send Kevin Chan, Head of public policy for Facebook Canada along with Neil Potts, Director of public policy, CNN reported on Monday. This week's meeting of the grand committee - the second since last year's inaugural gathering in Britain - is being hosted by the House of Commons committee on access to information, privacy and ethics.

Tentative agreement reached in British Columbia's port dispute

June 01, 2019

A tentative agreement has been reached in a labour dispute that threatened to shut down all ports in British Columbia and have a ripple effect across the Canadian economy. Union members negotiating at 890 West Pender St.in Vancouver came out for periodic smoke breaks all night, but didn't comment on whether they were close to reaching a deal.

USA economy grows 3.1% in first quarter

June 01, 2019

The economy grew at a 2.2 per cent pace in the October-December period. According to the small revisions in the new report, inventory growth and the shrinking trade deficit added slightly less support than initially reported. Some economists worry that the economy could falter even more than if trade tensions between the United States and China are not resolved. An alternative measure of economic growth, gross domestic income (GDI), increased at a rate of 1.4 per cent in the first quarter, ...

Microsoft Flagship store opens in London July 11th

June 01, 2019

Remember the Microsoft London store ? This huge retail experience, which is located on Oxford Street, will cover 21,932 square feet over three floors and is the first physical retail store for Microsoft in the UK. Although this is the first entry into the United Kingdom physical store market, Microsoft Store is already an established brand in the US, as well as offering stores in markets like Mexico, Australia and Canada.

India downplays impact of GSP withdrawal on trade relations with US

June 01, 2019

On Friday, a senior State Department official told a group of reporters in Washington, which included The Hindu , that the US would also bring sanctions under the Countering America's Adversaries Through Sanctions Act, CAATSA, against India, if it goes ahead with its purchase of the S-400 Triumf missile shield from Russian Federation.

Australia's minimum wage to rise by 3% from July 1

June 01, 2019

It estimated that in 2018 there were 1.6 million jobs paying people the National Living Wage. Roughly 20 per cent of the labour force rely on the minimum wage, and another 20 per cent rely on award agreements that use the minimum wage as a foundation.

IKEA recreates pop culture living rooms for new campaign

June 01, 2019

The living room of " Friends " recreated with items from IKEA's catalogue. "We've grouped all the products for each room for you, so it's easy to recreate what you see here in your own home". The recreation of Monica and Rachel's living room - where numerous show's best moments were created - takes you back to the 90s immediately. "Combine new colorful and playful patterns and brighten-up your living room with your functional and favorite IKEA furniture pieces".

Sony ‘misled players over refunds for faulty PlayStation games’, says ACCC

June 01, 2019

Australian Consumer Law applies to all businesses that trades with Australian consumers, including digital goods such as games. Australian consumer law states that "you are entitled to return a product if you believe that there is a problem", and given the shoddy state of some games that have been released recently that law could apply.

Ferrari SF90 Stradale image leaks

June 01, 2019

At the Ferrari home circuit, i.e., Pista di Fiorano in Maranello, the automaker unveiled its first production plug-in hybrid auto. These motors are kept juiced up by 7.9 kWh Lithium-ion battery that is good for 25-32 km of EV only range, during which it can run on battery power alone.

Efforts to import Iranian oil beyond accepted levels will be sanctioned

June 01, 2019

Former Secretary of State John Kerry, who led the negotiations that produced the Iran nuclear deal, is known to be meeting with Zarif as well - which President Donald Trump said earlier this month should have earned him prosecution under the Logan Act.

Tesla opens bookings for made in China Model 3

June 01, 2019

Entry-level models in China will have a rated range of 460 km (286 miles). The company has started taking pre-orders for the China-made version of the vehicle today for a downpayment of $3,000. While it was expected that the made-in-China version of the Standard Range Plus (SRP) vehicle would be cheaper than its USA version, it had been unclear by how much.

Artisan Partners Limited Partnership Boosts Position in Canada Goose Holdings Inc (GOOS)

June 01, 2019

The market price of a stock is the price that it sells for on the open market at a given point in time. Zacks Investment Research upgraded Canada Goose from a "hold" rating to a " buy " rating and set a $56.00 target price for the company in a research note on Wednesday, April 17th.

Ben & Jerry's 'Can't Wait' to Make CBD-Infused Ice Cream

May 31, 2019

The compound CBD is derived from a type of cannabis called hemp and President Trump legalised the cultivation of the crop at national level in December a year ago. "We want to use sustainably-sourced CBD from our home state of Vermont", they said in the statement. "So it's no surprise that we can't wait to get into the latest food trend: cannabidiol, or CBD".

USA holds CBD hearing as fans, sellers await legal clarity | AP business

May 31, 2019

Anticipation has been building in the cannabis industry as the U.S. Food and Drug Administration (FDA) meets today regarding how to regulate cannabidiol (CBD ), one of the most important compounds in the cannabis plant. At the CWCBExpo, PotNetwork News caught up with attorney David Feldman who helps to head up the cannabis law group at the Duane Morris law firm . The Canadian cannabis producer recently purchased Manitoba Harvest, the world's largest hemp food company in February and ...

Hong Kong introduces concessions to extradition bill, but critics say not enough

May 31, 2019

Talking point: Canada continues to feel the impact of its diplomatic rift with China following the arrest and ongoing extradition trial of Huawei CFO Meng Wanzhou. Nine organizations in cities that include Vancouver, Toronto, and NY representing overseas Hong Kongers released a letter in April to the city's government, saying that the proposals would "diminish the freedoms of speech, publication (and) academic pursuits".

Slide in GDP growth poses big challenge for new govt

May 31, 2019

The announcement meant India had lost its place as the world's fastest-growing major economy to China, which is now on 6.4 percent growth. India's GDP growth slowed for the fourth consecutive quarter in the January to March period and came in below 6 per cent, presenting the first major challenge for Nirmala Sitharaman who took charge as the finance minister Friday.

Dollar Tree looking to raise prices beyond $1

May 31, 2019

During the current fiscal year, Dollar Tree plans to close as many as 390 Family Dollar stores with the majority shutting down during the year's second quarter. Analysts and shareholders have recently pushed the dollar tree to raise prices, calling the chain one of the most vulnerable to tariffs imposed by President Trump.

Uber posts $1bn loss in Q1 despite growing revenue

May 31, 2019

The results indicate the newly public company was able to hit its own financial targets, which is likely to offer some assurance to investors. The tech firm has spent heavily to attract users to its platform as rival Lyft , which also recently went public, has battled for market share.

Trump says China suffering from trade conflict

May 31, 2019

When asked if China will take restrictive measures against Apple, similar to US measures against Huawei, Gao reiterated that the legitimate rights and interests of all the foreign companies doing business in China are protected by the Chinese government .

Oil falls on trade war worries, but tight market supports

May 31, 2019

Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. Oil prices have been supported this year by output cuts from the Organization of the Petroleum Exporting Countries and other major producers, as well as by falling supplies from OPEC members Iran and Venezuela due to US sanctions.

President Trump announces new 5 percent tariff on Mexican goods

May 31, 2019

President Donald Trump talks with reporters before departing on Marine One for the Air Force Academy graduation ceremony, Thursday, May 30, 2019, in Washington . "If Mexico does not take decisive measures, it will come at a significant price", said the White House statement announcing the tariffs. Vice President Mike Pence was in the Canadian capital of Ottawa on Thursday to build support for the USMCA.

Adel al-Jubeir: 'Saudi Arabia does not want a war with Iran'

May 31, 2019

Several tankers in Gulf waters were targeted under mysterious circumstances in recent weeks, and a Saudi crude pipeline was hit by drone strikes coordinated by Yemen's Huthi rebels - who Riyadh said were acting on Iranian orders. But Bolton himself, for years before becoming national security adviser, called for overthrowing Iran's government in interviews and in paid speaking engagement before an Iranian exile group.

Freedom gas: U.S

May 30, 2019

The U.S. Department of Energy has apparently rebranded liquefied natural gas (LNG ) as " freedom gas ". Reality check: Scheer wants Canada to be 'energy independent.' Is this possible? Slate notes that the term " freedom gas " seems to have originated from an event with DOE Secretary Rick Perry .

Sports Illustrated Sold To Authentic Brands Group For $110 Million

May 30, 2019

Sports Illustrated was put up for sale previous year along with Time , Fortune and Money magazines, which Meredith acquired via its purchase of Time Inc. It then proceeded to put Time, Fortune and Sports Illustrated on the block. "As one of the most iconic brands in sports media, SI is a cultural centerpiece with massive opportunities for growth across its burgeoning digital, TV and social platforms and industry-leading print magazine", ABG founder, chairman and CEO Jamie Salter ...

Boots mulls more than 200 possible store closures

May 30, 2019

According to reports, Walgreens Boots Alliance (WBA) has placed hundreds of stores under review for potential closure over the next two years. The news comes after Boots reported a fall in profits of 18 per cent past year and last month said it was conducting a review of "underperforming stores".

Oilsands giant Canadian Natural inks $3.8 billion deal for Devon assets

May 30, 2019

Back then, various analysts expected a wide range for what a potential price tag for Devon's Canadian assets would be-those ranged from as low as US$2.6 billion (C$3.5 billion) to as high as US$6.66 billion (C$9 billion). The accumulated cash flow from the first half of the year means Canadian Natural will only have to borrow $3.25 billion in a three-year term loan to finance the deal, said chief financial officer Mark Stainthorpe.

Legal Battle Between Huawei and the US Heightens

May 30, 2019

Song Liuping, the company's chief legal officer, said the United States move to put Huawei on a trade blacklist set a "dangerous precedent" that would harm billions of consumers and affect "tens of thousands of American jobs". The Commerce Department has granted the company a temporary 90-day license to purchase USA -made goods in order to maintain existing networks and provide software updates to existing Huawei smartphones.

China Threatens U.S.: 'Don't Say We Didn't Warn You'

May 30, 2019

The U.S.is dependent on China for rare earth minerals used in hundreds of hi-tech products and military equipment. The often belligerently nationalist Global Times , controlled by the Chinese Communist Party, called on China to cut-back on rare-earth licenses and "tighten management' of foreign-invested companies as first steps to "weapons the minerals".

Uber To Start Banning Passengers With Low Ratings

May 30, 2019

Internal charts from 2014 published by Business Insider showed that drivers with ratings of 4.6 or below were at risk for the boot. Have a low Uber passenger rating? The move comes as Uber is also rumored to be launching a feature that lets users add a driver as their "favorite" so that they can ride with them again in the future.

Ontario breaks the agreement with the Beer Store

May 30, 2019

The industry is warning that breaking the contact could trigger steep financial penalties for the Ford government, which could cost taxpayers millions. It appears Premier Doug Ford is going to war against the Beer Store . A report by Ken Hughes, a special advisor for an alcohol sales review, says the "anti-competitive, anti-consumer beer distribution system" gives global brewers control over 70% of the province's beer retail market.

Alibaba may raise as much as $27.5 billion in Hong Kong listing

May 29, 2019

The company is now working with financial advisors regarding the planned offering and aims to file a listing application in Hong Kong confidentially as early as in the second half of this year. The $20 billion proposed initial public offering ( IPO ) in Hong Kong would be one of the largest listings in history, much like Alibaba's record-breaking market debut in NY five years ago when the Chinese company raised $25 billion.

China's first bank seizure since 1998 reveals risks

May 29, 2019

The regulators said the takeover reflects the "severe credit risk" the bank poses and is meant to protect the interests of the bank's depositors and other clients. Following the takeover, China's central bank said on Sunday that it would guarantee all principal and interest of corporate deposits and interbank liabilities below 50 million yuan , and that the handling of those above 50 million yuan could be negotiated.

Australia's Labor opposition elects new leader

May 29, 2019

Victorian MP Richard Marles is in line to be his deputy, again being the only person with his hat in the ring for the job on Monday. He promised to talk to voters who didn't vote Labor and said he wouldn't hasten to make policy decisions or announcements.

Air Canada operations resume across North America following system-wide technical issue

May 29, 2019

Only one per cent of Air Canada daily flights were affected by the technical failure, according to Mah. After a network-wide "computer technical issue" caused Air Canada flights to be delayed and cancelled on Tuesday evening, the airline tweeted shortly before 10 pm PST that its "operations and affected network systems are beginning to return to normal".

Information