Business


Raw politics in full: Brexit talks at European Union summit and Fidesz suspension Raw politics in full: Brexit talks at European Union summit and Fidesz suspension
- March 22, 2019

May's statement blaming lawmakers for the Brexit crisis was received sourly by members of her own party as well as opposition parties, many of whom argue it is their duty to vote against May's deal as it is bad for the country. German Chancellor Angela Merkel arrives at the European Council summit in Brussels, Belgium. In her speech on Wednesday night, prime minister Theresa May said she would ask for an extension , but blamed her colleagues in the house of commons for having to ... (more...)
UK unemployment rate hits 44-year low UK unemployment rate hits 44-year low
- March 21, 2019

Between November 2018 and January this year, ONS revealed based on its data, the United Kingdom stood at 76.1 percent in its employment rate . There were 35,000 fewer people out of work in the three months to January. The surprising resilience of the labour market and the subsequent rise in wage growth, plus a fall in inflation, are cushioning the Brexit uncertainty for many households, whose spending drives the economy. (more...)
Facebook settles lawsuits alleging discriminatory ads Facebook settles lawsuits alleging discriminatory ads
- March 21, 2019

Facebook has limited the type of targeting advertisers can use when running housing , employment and credit ads , which are categories protected by federal law to prevent discrimination. The targeting is often extraordinarily precise: nearly anything that anyone puts in a Facebook profile, combined with anything in any other database that Facebook has managed to tie to those details, can be selected by an advertiser. (more...)
Powerball lottery jackpot soars to $414M for Saturday drawing Powerball lottery jackpot soars to $414M for Saturday drawing
- March 21, 2019

Tickets can be purchased until Saturday evening and cost $2 each. The winning $1.5 billion Mega Millions jackpot victor didn't come forward for more than four months until recently in SC. Virgin Islands and Puerto Rico. The person, from SC, chose to remain anonymous and took the cash option of a one-time payment of $877,784,124. If there is no jackpot victor, the amount grows larger for the next drawing. (more...)
Siena Poll: Voters Say Amazon Cancelling Queens HQ Bad For NY Siena Poll: Voters Say Amazon Cancelling Queens HQ Bad For NY
- March 21, 2019

Another 34 percent said Ocasio-Cortez's local activist allies were the main villains, while 29 percent blamed New York City's unpopular Mayor Bill de Blasio and 28 percent blamed Democratic Gov. "At least 63 percent of Democrats, Republicans and independents, upstaters and downstaters, men and women, young and old, black and white New Yorkers agree: Amazon pulling out of Queens was bad for NY". (more...)
Australia Unveils Blockchain Project Plans And Government Funding Australia Unveils Blockchain Project Plans And Government Funding
- March 21, 2019

Furthermore, to help Australia's blockchain tech companies "stay ahead of the game in one of the world's fastest growing technology sectors", both Andrews' and Birmingham's departments will work with the Commonwealth Scientific and Industrial Research OrganIzation (CSIRO) to help develop a "future scenarios report" on the state of blockchain technology in the country. (more...)
Fed Signals It May Not Change Interest Rates This Year Fed Signals It May Not Change Interest Rates This Year
- March 20, 2019

Also in December, Fed officials had indicated there would be two 0.25-percentage-point hikes this year in the short-term federal funds rate, a benchmark for credit cards, auto loans and other short-term consumer lending. The Euro STOXX 600 fell 0.3 per cent, with indexes in Britain and France also slightly down as investors closed positions before the Fed's decision, due at 1800 GMT. (more...)
IT'S ABOUT TIME: FINALLY, Someone Calls Out GM And Its Perpetual Incompetence IT'S ABOUT TIME: FINALLY, Someone Calls Out GM And Its Perpetual Incompetence
- March 20, 2019

It's safe to assume Donald Trump later talked to GM CEO Mary Barra about the issue, because on Sunday he took to Twitter again. CNN reporter Phil Mattingly said that Trump's tweets were more about shoring up his base. The 6.3-million-square foot Lordstown assembly complex has manufactured more than 16 million vehicles since it opened in 1966, including almost 2 million Chevrolet Cruze cars since 2010. (more...)
Google fined €1.5bn by European Union for 'illegal' online ad contracts Google fined €1.5bn by European Union for 'illegal' online ad contracts
- March 20, 2019

The regulator said Wednesday that Google, which is supposed to play an intermediary role for advertisers , imposed restrictive clauses in contracts with third-party websites. Google and the EU's European Commission are making all sorts of announcements lately. The EU has been pushing Google to become less monopolistic and more friendly towards competitors for a long time. (more...)
Worldpay takeover creates electronic payments giant Worldpay takeover creates electronic payments giant
- March 20, 2019

The deal would create a global giant in payments and back-office financial services in a bid to reach more customers as transactions move increasingly online. Worldpay is an global company with a US - based headquarters in Symmes Township, after Worldpay acquired Cincinnati-based Vantiv Inc.in 2017. The companies will combine their complementary solutions and services to better offer a superior omni-channel payment and multi-currency capabilities. (more...)
Asian shares steady ahead of Fed meeting; May's Brexit deal in chaos Asian shares steady ahead of Fed meeting; May's Brexit deal in chaos
- March 20, 2019

All three major Wall Street indices rose overnight, lifted by the bank and technology sectors, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite adding between 0.3 and 0.4 per cent each. Expectations of a more cautious Fed have dented the USA dollar, which has already been under pressure this year after Mr Powell all but signalled a pause to the tightening cycle at the previous meeting. (more...)
Checkout on Instagram Rolls Out, Facebook Logs Payment Information Checkout on Instagram Rolls Out, Facebook Logs Payment Information
- March 20, 2019

A new " checkout " button for instant purchasing launched in a beta version of the app in the USA with a limited number of businesses, according to the popular image-centric messaging service. Selling on Instagram is now possible with checkout, a feature announced today that lets shoppers pay for items directly in posts. Some of the first brands using the new Instagram service, which was launched in a closed beta, include Shopify merchants such as newly dubbed billionaire Kylie ... (more...)
Jury: Monsanto’s Roundup weed killer is major factor in man’s cancer Jury: Monsanto’s Roundup weed killer is major factor in man’s cancer
- March 20, 2019

The unanimous verdict by the six-person jury in federal court in San Francisco favored claims made by Edwin Hardeman, 70, the second plaintiff to go to trial out of thousands around the country who claim the weed killer causes cancer, the San Francisco Chronicle reported . (more...)
Karachi is the sixth cheapest city in the world Karachi is the sixth cheapest city in the world
- March 20, 2019

The average cost of a haircut in Paris is $119.04 as compared to $763.97 in Zurich and $53.46 in Japan's Osaka. Los Angeles, also in the USA, was named the 10th most expensive city in the world, along with Israel's Tel Aviv. San Francisco, California also rose on the list this year, moving up 12 spots to the 25th spot. Survey editor Roxana Slavcheva said in a release that researchers noticed "converging costs in traditionally more expensive cities like Copenhagen, Seoul, New York and ... (more...)
Trump Received $2 Billion in Loans From Deutsche Bank Trump Received $2 Billion in Loans From Deutsche Bank
- March 19, 2019

But a new report from the New York Times , based on interviews with more than 20 current and former Deutsche Bank executives and board members, argues that the bank's eagerness to make a name for itself on Wall Street led it to ignore repeated red flags over nearly two decades. (more...)
Flight safety is at risk, Jet Airways aircraft engineers' union tells DGCA Flight safety is at risk, Jet Airways aircraft engineers' union tells DGCA
- March 19, 2019

Accordingly, the over 1,000 member-strong National Aviators Guild will refrain from flying duties if they are not provided with proper information on the company's financial resolution plan. Ethihad Group has stakes in Jet Airways. Reports now suggest that Etihad wants to sell off its entire 24% in the airline and exit the business. Jet Airways was India's largest carrier in the 2000s, but it started to lose market share after the entry of low-priced airlines like IndiGo & SpiceJet, who ... (more...)
One of world's largest aluminium companies hit by major cyber attack One of world's largest aluminium companies hit by major cyber attack
- March 19, 2019

IT systems in most business areas are impacted and Hydro is switching to manual operations as far as possible". It's claimed that the attack has affected operations across Europe and the USA, with some - such as its extrusion plants - being forced to temporarily shut down. (more...)
SEC calls Musk's first amendment tweet defense 'ridiculous' SEC calls Musk's first amendment tweet defense 'ridiculous'
- March 19, 2019

The agency on Monday reiterated its request that the judge find Musk in contempt of court, saying it has learned that Tesla's chief executive "had not sought pre-approval for a single one of the numerous tweets about Tesla he published in the months since the court-ordered pre-approval policy went into effect". (more...)
Saudis urge OPEC+ to stick with cuts, but may delay decision Saudis urge OPEC+ to stick with cuts, but may delay decision
- March 19, 2019

Pump jacks are silhouetted against the rising sun on an oilfield in Baku, January 24, 2013. "The market remains supplied with Venezuelan barrels", al-Falih said. According to a report in the Reuters , crude markets remain broadly supported by supply cuts led by producer group OPEC and US sanctions against Iran and Venezuela. (more...)
Lyft IPO: Ride-hailing company aims to raise $2 billion Lyft IPO: Ride-hailing company aims to raise $2 billion
- March 19, 2019

Including the money Lyft is expecting to raise from the IPO as well as some likely dilution of shares, the total valuation of the company could be $21 billion to $23 billion, according to a person familiar with the matter. Uber is planning to kick off its IPO in April, Reuters has reported. The move could value Lyft at more than $20 billion, which is higher than its $15 billion valuation last summer. (more...)
Ford to cut more than 5,000 jobs in Germany, others in UK Ford to cut more than 5,000 jobs in Germany, others in UK
- March 19, 2019

The automaker offered voluntary separation packages for employees in Germany and the U.K.to help accelerate its plan to improve performance in the region, where Ford has struggled, according to CNBC . Ford announced in April 2018 it was making cuts to its auto lineup as part of a plan to trim $11.5 billion off of its operating costs. The automaker is expected to end production of the C-Max compact minivan in Saarlouis as it focuses on profitable SUVs and commercial vehicles. (more...)
The Most Expensive Cities to Live in the World The Most Expensive Cities to Live in the World
- March 19, 2019

British cities recovered a few positions a year after reaching the cheapest level in more than two decades due to Brexit uncertainty, with London ranking 22nd and Manchester 51st, up eight and five spots respectively. Outside the top 10, the EIU said the cost of living in Chinese cities remains relatively stable, while Southeast Asian destinations were moving up the ranks. (more...)
Jet Airways suspends service to Abu Dhabi Jet Airways suspends service to Abu Dhabi
- March 19, 2019

With Etihad Airways delaying a decision on infusing fresh equity into Jet Airways, the lenders of the debt-laden airline are exploring the possibility of bringing in a new investor. In a mail to employees, Goyal sought more time to resolve the situation. Founder and chairman Naresh Goyal , who transformed Jet into India's biggest full-service carrier from its humble start 25 years ago, has said it is charting out a bailout plan, led by state-run banks and Abu Dhabi's Etihad Airways. (more...)
Jury rules Apple owes Qualcomm USD 31M for patent infringement Jury rules Apple owes Qualcomm USD 31M for patent infringement
- March 19, 2019

Qualcomm's ongoing campaign of patent infringement claims is nothing more than an attempt to distract from the larger issues they face with investigations into their business practices in USA federal court, and around the world. Maxell believed that the parties could reach a mutually beneficial solution and to that end considered a potential business transaction and continued to answer multiple inquiries from Apple over the course of several years, including communicating with Apple as ... (more...)
Cadillac CT5 breaks cover ahead of NY debut Cadillac CT5 breaks cover ahead of NY debut
- March 19, 2019

That's a must for any luxury automaker. The CT5 will be built at GM's Lansing Grand River facility, which received an investment of $211 million to build the next-generation Cadillac sedan, and will make its public debut in April at the New York International Auto Show. (more...)
Fisker provides first look at Tesla Model Y rival priced below $40,000 Fisker provides first look at Tesla Model Y rival priced below $40,000
- March 18, 2019

Fisker's next model will be a small SUV to challenge the recently revealed Tesla Model Y . "At an affordable price point, starting below $40,000, we're delivering a desirable, luxuriously rugged and green vehicle-complete with unique new experiences and technologies-that's accessible to people across the United States of America and the world". (more...)
Anil Ambani thanks Mukesh, Nita for timely support in clearing RCom dues Anil Ambani thanks Mukesh, Nita for timely support in clearing RCom dues
- March 18, 2019

Earlier, Ericsson had moved the apex court seeking initiation of contempt proceedings against Anil Ambani for allegedly not complying with its order to clear dues of Rs 550 crore. The Supreme Court on February 20 had held Reliance Communication-led Anil Ambani and two directors guilty of contempt of court and have asked them to pay the fine and remaining amount to Ericsson, failing which all might go to jail. (more...)
Manager, escape, Facebook is offline: Mark Zuckerberg's black hole of a day Manager, escape, Facebook is offline: Mark Zuckerberg's black hole of a day
- March 18, 2019

Cox, along with head of WhatsApp Chris Daniels, now join the ranks of other execs formerly employed at Facebook. "My guess is there was some sort of disagreement". Facebook isn't hiring another executive to replace Cox. Instead, the leaders of Facebook (Fidji Simo), Instagram (Adam Mosseri), Messenger (Stan Chudnovsky) and WhatsApp (Will Cathcart - taking over from Chris Daniels) will report directly to him. (more...)
Donald Trump fumes, 'disappointed' about shuttered GM Ohio plant Donald Trump fumes, 'disappointed' about shuttered GM Ohio plant
- March 18, 2019

President Donald Trump says he has spoken to General Motors CEO Mary Barra to vent his frustration about the automaker's closure of an OH manufacturing plant while the USA economy continues to fare well. Pointing out that Toyota is investing $13 billion in the United States, the President urged GM to act quickly, adding "Time is of the essence!" The Lordstown closure has become a hot-button issue in an area of OH that is expected to be critical for Trump if he seeks re-election as promised ... (more...)
Deutsche Bank confirms merger talks with Commerzbank Deutsche Bank confirms merger talks with Commerzbank
- March 18, 2019

Deutsche Bank and rivals Commerzbank have started exploratory merger talks after the German government signalled it would not stand in the way of a potential tie-up. The supervisory boards of both banks meet on Thursday when the merger is likely to be discussed. Sewing added it is important that the bank "only pursue options that make economic sense, building on the progress we made in 2018" and "there is no certainty that any transaction will occur". (more...)

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