Business


Google Hit With $57M Fine Under New EU Law Over Targeted Ads Google Hit With $57M Fine Under New EU Law Over Targeted Ads
- January 21, 2019

Around 10,000 people signed the initial petition to initiate an investigation, which was filed by France's Quadrature du Net group and None Of Your Business, an NGO which advocates for consumer privacy. "The amount decided, and the publicity of the fine, are justified by the severity of the infringements observed regarding the essential principles of the GDPR: transparency, information and consent ", the CNIL said in a statement. (more...)
Passengers shiver through 13-hour ordeal on Canadian tarmac Passengers shiver through 13-hour ordeal on Canadian tarmac
- January 21, 2019

After the plane made an emergency landing around 9:30 p.m., the customer received medical attention-thanks to a 20-year-old EMT and college student onboard the aircraft, according to the NY Post , and medical personnel who met the flight on the ground. (more...)
IMF cuts global growth outlook, cites trade war and weak Europe IMF cuts global growth outlook, cites trade war and weak Europe
- January 21, 2019

Economic growth in the Middle East and North Africa is forecast at just 2.4 percent this year, below the global average and a decline of 0.3 percentage points on the projections laid out in the previous World Economic Outlook , released in October. (more...)
China's 2018 oil refinery output, December gas production hit records China's 2018 oil refinery output, December gas production hit records
- January 21, 2019

The world's second-largest economy expanded by 6.6 per cent over a year earlier, down from 2017's 6.9 per cent, official data showed Monday. Communist leaders are trying to steer China to slower, more self-sustaining growth based on consumer spending instead of trade and investment. (more...)
Trump cancels delegation's trip to Davos due to shutdown Trump cancels delegation's trip to Davos due to shutdown
- January 21, 2019

Other members of the US delegation would have included US Secretary of State Mike Pompeo , Commerce Secretary Wilbur Ross , Trade Representative Robert Lighthizer and Chris Liddell, who is the assistant to the president and deputy chief of staff for policy coordination. (more...)
Massive data breach exposes millions of emails and passwords Massive data breach exposes millions of emails and passwords
- January 21, 2019

This is unsafe to individuals who use the same email and password combination for multiple accounts. It can be easy for some to brush this off as an insignificant collection, since so numerous credentials in the list were already known; that said, Hunt, among others, point to the fact that in compiling all these previously and newly disclosed e-mail and password combinations has created a master dictionary for those attempting credential stuffing attacks. (more...)
Tesla to cut workforce while ramping up Model 3 production rate Tesla to cut workforce while ramping up Model 3 production rate
- January 20, 2019

Chief Executive Officer Elon Musk said the company would need to deliver at least the mid-range Model 3 version in all markets starting around May, as it needs to reach more customers who can afford the vehicles. Tesla stock was down almost 11 percent Friday afternoon, but investment analysts were largely pleased with Musk's announcement, arguing that the cuts will leave Tesla better positioned for future profits. (more...)
Trump offers a ‘Dreamers’ deal for border-money proposal Trump offers a ‘Dreamers’ deal for border-money proposal
- January 20, 2019

But Trump did not budge on his $5.7 billion demand for the wall and, in essence, offered to temporarily roll-back some of his own hawkish immigration actions - actions that have been blocked by federal courts. The situation for furloughed employees isn't getting any brighter and the crisis at the border isn't improved by show votes. West Michigan Second District Congressman Bill Huizenga issued a statement Saturday night in response to Trump's address. (more...)
IEA lowers Q2, Q3 'call' on OPEC crude oil estimates IEA lowers Q2, Q3 'call' on OPEC crude oil estimates
- January 20, 2019

Brent crude was up 48 cents, or 0.78 percent, at $61.66 a barrel at 1450 GMT. OPEC members along with allies including Russian Federation agreed in early December to trim production by 1.2 mbd from January 1, in a bid to eliminate a production glut and shore up prices. (more...)
Primark Owner AB Foods Says No-deal Brexit Would Be 'Reckless' Primark Owner AB Foods Says No-deal Brexit Would Be 'Reckless'
- January 20, 2019

Sales over the Christmas trading period exceeded expectations. AB Foods, which gets half of its group revenue and profit from Primark, said it still expects adjusted operating profit and adjusted earnings per share for its 2018-19 financial year to be in line with the £1.4bn and 134.9p made in 2017-18. (more...)
UK Shoppers Rein In Spending As Brexit Nears UK Shoppers Rein In Spending As Brexit Nears
- January 20, 2019

United Kingdom retail sales slowed in December from the prior month, as Black Friday sales shifted consumer spending away from the previously all-important Christmas season, the latest United Kingdom retail sales figures released by the Office for National Statistics showed. (more...)
Mukesh Ambani urges PM Modi to lead fight against data colonisation Mukesh Ambani urges PM Modi to lead fight against data colonisation
- January 20, 2019

Reliance Industries Ltd (RIL) to step into e-commerce with1.2 million retailers and store-owners in western India, sketching out an ambitious plan to take on Amazon .com Inc and Walmart Inc's Flipkart . It will reach the remote villages and towns of India where people have never shopped online before. Citing Mahatma Gandhi's movement against political colonisation during the struggle for Independence, Mr. (more...)
France calls for Ghosn's ouster as Renault chairman, chief exec France calls for Ghosn's ouster as Renault chairman, chief exec
- January 20, 2019

Ghosn, who built up a formidable alliance between Renault, Nissan and Mitsubishi that sold more cars than Volkswagen in 2017, has already been stripped of his leadership roles at Nissan and Mitsubishi. Reuters last month reported that payments for some of Ghosn's residences were portioned out and processed through a Nissan unit in the Netherlands called Zi-A Capital BV and its subsidiaries, which initially had been set up to invest in technology start-ups. (more...)
Powerful Winter Storm Sweeps East After Blanketing The Midwest Powerful Winter Storm Sweeps East After Blanketing The Midwest
- January 20, 2019

New Jersey Gov. Phil Murphy declared a state of emergency beginning Saturday at noon. Additionally, new wind alerts and wind chill alerts are being issued Saturday morning. Chicago was forecast to receive as much as 200mm and wind gusts in the Chicago area are expected to reach 56kph. The Interstate 95 corridor through New England seems to be where the bulk of the ice will form, with up to an inch of freezing rain possible in Connecticut, Rhode Island and MA. (more...)
Aer Lingus unveils new livery and logo Aer Lingus unveils new livery and logo
- January 19, 2019

But today was different; today saw the launch of the rebrand of Aer Lingus, over 20 years since the last one. The airline unveiled a new livery at noon on Thursday. Aer Lingus says that the new shamrock has been tilted to symbolise "dynamism and speed" while the pronounced heart-shaped leaves were brought on board to reflect "the warmth and hospitality" of the airline. (more...)
Trump says a deal 'could very well happen' with China Trump says a deal 'could very well happen' with China
- January 19, 2019

The Trump administration is scheduled to increase tariffs March 2 on $200 billion worth of Chinese goods to 25 percent from 10 percent. The US stock market reacted favorably to the report, with equities prices closing higher after being flat for most of the day. (more...)
Patisserie Valerie says its accounts were 'significantly manipulated' Patisserie Valerie says its accounts were 'significantly manipulated'
- January 19, 2019

Chairman Luke Johnson, a renowned entrepreneur also known for brands such as Pizza Express, put up £20m of his own money after it was discovered the company's cash position was some £40m adrift. Shares are now suspended. Patisserie Holdings has hired the firm to help it carry out a review of all of the options available to it with the aim of recovering from the "devastating" effects of the financial black hole which was revealed previous year. (more...)
After-Hours Bullish Stock: Morgan Stanley (NYSE:MS) After-Hours Bullish Stock: Morgan Stanley (NYSE:MS)
- January 19, 2019

Canada Pension Plan Investment Board now owns 1,633,304 shares of the financial services provider's stock valued at $76,063,000 after purchasing an additional 65,199 shares during the period. Finally, Wolfe Research began coverage on shares of Morgan Stanley in a research report on Tuesday, September 25th. They set an outperform rating on the stock. (more...)
Saudi Arabia urges ‘fair’ energy transition, defends oil Saudi Arabia urges ‘fair’ energy transition, defends oil
- January 19, 2019

Unveiling Saudi Arabia's clean energy program, he said the Kingdom plans to create "a global hub of renewable energy capability" over the coming decades, producing upward of 200 gigawatts. Members of the OPEC cartel and allies including Russian Federation decided last month to reduce output by 1.2 million barrels per day (bpd) after prices fell by more than 40 percent in just a few weeks in late 2018. (more...)
Facebook to invest USD 300 million to help local news survive Facebook to invest USD 300 million to help local news survive
- January 19, 2019

Facebook has said it will commit a further $300m (£233.5m) in funding for local news publishers globally over the next three years, with the first round destined for a selection of USA organisations. Among the components is a Pulitzer Centre - a $5 million endowment gift to launch " Bringing Stories Home ", a gift that will provide local newsrooms across the U.S. (more...)
Perdue chicken nuggets recalled for possible wood contamination Perdue chicken nuggets recalled for possible wood contamination
- January 19, 2019

According to the U.S. Department of Agriculture's Food Safety and Inspection Service , consumers reported finding wood in their packages of Perdue Foods LLC's frozen SimplySmart Organics chicken nuggets . Wood pieces are far from the most freakish material to be found in processed food. On Friday, there had been no confirmed reports about anyone getting sick from the nuggets. (more...)
Nissan Altima-te AWD revealed in Canada Nissan Altima-te AWD revealed in Canada
- January 19, 2019

The average person does not assume a sedan offers AWD", says Joni Paiva, president of Nissan Canada Inc. Again, Nissan ain't selling them, but I am sure if you've got a 50 large or so burning a hole in your pocket - not counting the $27,998 Nissan Canada wants for a new 2019 Altima - Motorsports in Action, who built the them for Nissan Canada , would probably be more than happy to build you one too. (more...)
Canadian national abducted by suspected extremists in Burkina Faso Canadian national abducted by suspected extremists in Burkina Faso
- January 18, 2019

The kidnapping came weeks after a Quebec woman named Edith Blais, 34, and her Italian friend went missing while they were traveling together in Burkina Faso. (Original story: January 16 @ 1:15 p.m.) - For the second time in a month, a Canadian is believed to have been kidnapped in the African country of Burkina Faso. (more...)
JP Morgan Chase has disappointing Q4 earnigns report JP Morgan Chase has disappointing Q4 earnigns report
- January 18, 2019

Analysts had forecast adjusted earnings of $2.20 per share on revenue of $26.84, based on figures compiled by FactSet. The largest US lender said fixed-income trading revenue declined 18% for the three months to December 31, 2018. The company had revenue of $26.10 billion during the quarter, compared to analyst estimates of $26.69 billion. "We grew core loans 7 percent, in line with our expectations while maintaining credit discipline and a fortress balance sheet with significant capital and ... (more...)
SpaceX to lay off 10 percent of workforce to become leaner SpaceX to lay off 10 percent of workforce to become leaner
- January 18, 2019

The company is focusing on a new spacecraft - called the Starship - created to take people to Mars and other deep space destinations. The president further explained that the firm needs to part ways with their hardworking and talented members of the team. (more...)
Trump cancels Pelosi trip and Davos delegation over USA government shutdown
- January 18, 2019

The White House released a statement on Thursday that said the White House delegation would not be making the scheduled trip due to the ongoing government shutdown . Speaker Nancy Pelosi was among the delegation of Democrats set to leave the country for a week while 800,000 federal workers are furloughed during the partial government shutdown. (more...)
SA Reserve Bank keeps repo rate unchanged SA Reserve Bank keeps repo rate unchanged
- January 18, 2019

Domestic petrol prices decreased by a cumulative R3.07 per litre (for 95 unleaded in Gauteng) in December and January. "We see marginally lower headline inflation in 2019, but believe the bias is still for a hike by the SARB later this year", it said in a statement. (more...)
German economic growth slowest for five years German economic growth slowest for five years
- January 18, 2019

China is Germany's largest trade partner, measured in terms of trade turnover. Growth also took a hit due to a decline in exports, CNBC reported . At the start of the year, the German economy had been expected to grow by 1.8%. That increases the pressure on politicians to find ways of cushioning the country against economic slowdown and boosting growth. "It makes sense right now to set incentives for growth", said Altmaier, a member of Chancellor Angela Merkel's centre-right CDU, ... (more...)
Climate change, data theft top fears for Davos summit Climate change, data theft top fears for Davos summit
- January 18, 2019

Rising geopolitical and geo-economic tensions are the most urgent risks in 2019, with 90 percent of experts surveyed expecting further economic confrontation between major powers, according to the WEF's annual Global Risks Report . "Extreme weather was the risk of greatest concern, but our survey respondents are increasingly anxious about environmental policy failure. So, too, does the growing likelihood of environmental policy failure or a lack of timely policy implementation", she continued. (more...)
Oil climbs 1pc on OPEC output cut, but USA production robust
- January 18, 2019

International Brent crude oil futures were down 37 cents, or 0.6%, at $60.95 per barrel. At 1029 GMT, March WTI crude oil is trading $53.02, up $0.66 or +1.27% and March Brent crude oil is at $61.89, up $0.71 or +1.16%. American crude output is poised to expand by 1.1 million barrels a day this year, according to the IEA, which sees the USA exceeding the Saudis' maximum level within the next six months. (more...)

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