Business


Oil prices slump as OPEC, Russia plan output boost
- May 27, 2018

The group had agreed to curb their output by about 1.8 million barrels per day (bpd). Brent crude, which serves as the price peg for Nigeria's petroleum exports, closed at $78.63 on Thursday, $1.37 less than the $80 three-year high it attained on May 17. (more...)
Man refused beer on American Airlines flight starts midair brawl Man refused beer on American Airlines flight starts midair brawl
- May 27, 2018

He was shouting, and when an American Airlines' flight attendant didn't comply with his request, he was angry. Here's a link to the story and a link to the video that aired on ABC News . Other passengers tried to calm the man down when he started banging on the overhead bins and threatening passengers. He continued to call the flight attendant a "f***t" and a "b****". (more...)
J&J hit with $21.7 million verdict in another talc asbestos cancer case J&J hit with $21.7 million verdict in another talc asbestos cancer case
- May 27, 2018

A California jury delivered a $25.7 million verdict against Johnson & Johnson in a lawsuit brought by a woman who claimed she developed cancer by using the company's talc-based baby powder. J&J didn't break out the number of ovarian cancer cases versus the number of mesothelioma cases allegedly tied to talc. In a growing nightmare for the company, this is the second jury in less than two months to conclude J&J sold its baby powder knowing it contained at least trace amounts of asbestos and ... (more...)
Uber self-driving SUV saw pedestrian but didn't brake Uber self-driving SUV saw pedestrian but didn't brake
- May 27, 2018

Authorites are investigating the cause of the crash. The report claimed the sensors on Uber's self-driving Volvo detected the woman crossing the street with a bicycle outside of a crosswalk but decided not to immediately act. According to the police, the safety operator who was supposed to oversee the self-driving system and monitor the road, was looking down instead, probably at their phone. (more...)
Congress says Modi government 'betrayed' people in four years Congress says Modi government 'betrayed' people in four years
- May 27, 2018

But under Modi's government nobody is safe. On the occasion of his government's fourth anniversary today, Prime Minister Narendra Modi launched a survey on his app, asking people to rate the performance of the BJP-led dispensation at the Centre and MPs and MLAs in their constituencies. (more...)
Brazilian lorry drivers' strike will end by force, president warns Brazilian lorry drivers' strike will end by force, president warns
- May 27, 2018

Brazil's economy runs largely on road transport and the four-day-old strike to protest rising diesel prices was beginning to have serious consequences, with highway police reporting blocked roads in almost all of Brazil's states. Reuters quotes a knowledgeable source as saying the government has suggested that Petrobras cuts diesel prices by a tenth for 60 days. About half of the roadblocks throughout the country had been cleared by the afternoon, as truckers who encountered police ... (more...)
BNZ customers 'annoyed' after major outage
- May 27, 2018

NAB customers and businesses are unable to access bank accounts and EFTPOS machines across the country. Now, NAB has offered their sincerest apologies for the outage and has spoken to the media about the outage that affected the nation for more than six hours. (more...)
Transport Secretary Chris Grayling apologises for timetable change delays Transport Secretary Chris Grayling apologises for timetable change delays
- May 27, 2018

It has been hard for many of our customers, in particular on a number of routes around north Manchester extending up to Blackpool, and we are very sorry for this. And for him to claim that "improving the service for Northern customers" is belatedly the DfT's "number one performance priority", the operator's track record has been so dismal for so long that this should have been the case long before this week's misery for passengers revealed, once again, the Minister's contempt for this region. (more...)
Winning Lottery Ticket Sold In London Winning Lottery Ticket Sold In London
- May 26, 2018

One of those tickets was sold in Whistler. A record-breaking $106 million in prize money is up for grabs in Friday's Lotto Max jackpot draw. Ontario Lottery and Gaming (OLG) logo. The jackpot for the next Lotto Max draw on June 1 will again be approximately $60 million, but the number of Maxmillion prizes will increase to 50. (more...)
Elon Musk now wants to rate journalists, editors Elon Musk now wants to rate journalists, editors
- May 26, 2018

The members alleged that Musk had threatened to take away benefits from Tesla staff who meant to join the union. Musk, in the recent past, has faced criticism by the media for "disproportionately covering automobile deaths involving Tesla; improperly highlighting injuries at his factory; and helping to elect Donald Trump ", according to a Washington Post article. (more...)
Service dog gives birth to puppies in Tampa International Airport Service dog gives birth to puppies in Tampa International Airport
- May 26, 2018

Eleanor Rigby, or Ellie for short, is a yellow lab that turned 2 years old earlier this month. Van Atter said Rigby was still training as a service dog to help her with mobility and pain issues. Dogs are normally pregnant for around 65 days. "Every time she's ready to deliver another one he starts jumping around", James told Tampa Bay Times . (more...)
Trump says North Korea summit could still happen Trump says North Korea summit could still happen
- May 26, 2018

Trump told reporters at the White House . He made a quick decision to accept the sit-down in March, over the concerns of many top aides, and has remained committed, even amid rising concerns about the challenges he faces in scoring a positive agreement. (more...)
Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act
- May 26, 2018

Jon Tester. Crapo and fellow Idaho Sen. "This bill's passage marks one of our greatest achievements in the 115th Congress , but should not be unexpected", Crapo said in an emailed statement. Heidi Heitkamp of North Dakota, among the 16 Democrats who voted for the legislation when it passed the Senate in March. The final measure represents a compromise that leaves the overall structure of the post-financial-crisis rules in place, and does not touch the Consumer Financial Protection ... (more...)
Fiat Chrysler warns millions of owners: Don't use cruise control Fiat Chrysler warns millions of owners: Don't use cruise control
- May 26, 2018

Fiat Chrysler shares were down 2 percent in afternoon trading in NY on the recall. The company said it is recalling an unspecified number of additional vehicles in Canada, Mexico and other markets, and recalling some Fiat Fremont vehicles built on the same platform of the Dodge Journey. (more...)
Netflix Passes Disney For Top Media Market Value, Hitting New Milestone Netflix Passes Disney For Top Media Market Value, Hitting New Milestone
- May 26, 2018

On Wednesday, the streamer became more valuable than cable giant Comcast . On Thursday, Netflix for a few hours had topped Disney's market cap , before shares of Disney pared some of their losses to put the Mouse House back ahead at the close of trading. (more...)
US investigating whether bitcoin prices had been manipulated US investigating whether bitcoin prices had been manipulated
- May 26, 2018

The Justice Department is said to be looking into techniques used to bump up prices including spoofing , in which traders flood the market with fake orders that are never fulfilled and wash trading , which gives a false impression of market demand when a buyer purchases against themselves, tempting others to follow suit. (more...)
Gas prices reach record levels as Memorial Day weekend approaches Gas prices reach record levels as Memorial Day weekend approaches
- May 26, 2018

Gas prices in New Jersey have reached almost $3 per gallon in some areas ahead of the Memorial Day holiday weekend. Automobile travel is expected to increase for the fourth straight year. Commuters should also avoid buying gas on Friday, Saturday or Sunday, when gas stations anticipate strong demand. It remains unclear exactly how much Iranian oil will get knocked offline, but it's safe to say the Iran decision has supported oil and gas prices. (more...)
Fed minutes: Another rate hike likely 'soon' Fed minutes: Another rate hike likely 'soon'
- May 26, 2018

And although some said inflation was likely to "modestly overshoot" the target, "a temporary period of inflation modestly above two percent would be consistent with the committee's symmetric inflation objective", the minutes said. The potential tariffs come days after U.S. Treasury Secretary Steven Mnuchin said that the U.S. -Sino trade war was "on hold". Officials disagreed on whether the flattening of the yield curve was a reliable signal of a recession. (more...)
Trump says North Korea summit talks continue Trump says North Korea summit talks continue
- May 26, 2018

Kim Kye Gwan, a top official at North Korea's Foreign Ministry, said Trump's decision to cancel the talks, which were scheduled for June 12 in Singapore, ran counter to the global community's wishes for peace on the Korean Peninsula. It appears that Kim's response was enough to satiate Trump, who said Friday that "it was a very nice statement they put out; we'll see what happens". (more...)
Combative tweetstorm from Tesla CEO Elon Musk prompts confusion, scrutiny Combative tweetstorm from Tesla CEO Elon Musk prompts confusion, scrutiny
- May 26, 2018

Is it just another Musk prank, or is he actually serious about the idea? We should also note that the Communist Party of the Russian Federation (KPRF) is a humorless political organization that feels a particular attachment to the Pravda name and has been known to take things personally. (more...)
Homebase sold by Australian owner to restructuring firm Hilco Homebase sold by Australian owner to restructuring firm Hilco
- May 26, 2018

Executives have confirmed that the Rotherham store and the other 23 Bunnings pilot stores will convert to the Homebase brand promptly following the completion of the deal. "Homebase was acquired by Wesfarmers in 2016". "There's no doubt that the timing has been ill-fated as the sector faces incredibly tough headwinds". (more...)
Police Chief Says Body Found Likely That Of Missing Boy Police Chief Says Body Found Likely That Of Missing Boy
- May 26, 2018

The boy's identity was confirmed through an autopsy and dental records. Wichita police had been looking for Lucas Hernandez since February 17. Emily Glass, the boy's stepmother, led private investigator David Marshburn to a body located under a bridge in Harvey County Thursday, according to KWCH 12 News . (more...)
Tesla in Autopilot mode sped up before crashing — APNewsBreak Tesla in Autopilot mode sped up before crashing — APNewsBreak
- May 26, 2018

Although the vehicle's driver, Heather Lommatzsch, 29, tried to brake manually at the last second, it was not enough to prevent the auto from rear-ending the fire truck. The firefighter's said that the driver was using the autopilot feature of a auto on the time of bang. "We want to do right by those customers, so as part of a proposed settlement agreement for a class action lawsuit filed past year, we've agreed to compensate customers who purchased Autopilot on Hardware 2 vehicles who had to ... (more...)
Trump Balks at North Korea's Rhetoric, but It Has Used Worse Trump Balks at North Korea's Rhetoric, but It Has Used Worse
- May 26, 2018

But the question remains: Should it be? North Korea hardened its rhetoric toward the USA on Thursday, lashing out after remarks by Vice President Mike Pence and the White House national security adviser, John Bolton, that had linked the country with Libya. (more...)
Russian malware reportedly infected hundreds of thousands of devices worldwide Russian malware reportedly infected hundreds of thousands of devices worldwide
- May 25, 2018

Researchers can't say for sure who is behind VPNFilter, but say code used by the malware authors overlap with BlackEnergy malware used in previous attacks in the Ukraine. For starters, the malware operates at three stages. Talos also noted that the infected devices are generally hard to defend, as they are frequently on the perimeter of the network and don't have an intrusion protection system in place or a host-based protection system such as an antivirus software package. (more...)
Shoppers banned from Amazon for making too many returns Shoppers banned from Amazon for making too many returns
- May 25, 2018

Some Amazon customers shared stories about their accounts getting shut down with no warning after they allegedly returned too many items, according to a report from the Wall Street Journal - sparking concern from other users who are anxious their accounts would also get shuttered. (more...)
Oil Slips, Govt's Hope For Market Correction Rises Oil Slips, Govt's Hope For Market Correction Rises
- May 25, 2018

Crude fell 0.5% in NY on May 23. The Energy Information Administration said domestic stockpiles rose by 5.8 million barrels last week , and gasoline stockpiles were up 1.9 million barrels. WTI crude CLc1 futures were down 27 cents, or 0.38 percent, at $71.57 a barrel. The price of Brent crude oil, the global benchmark outside the USA, has now failed twice in recent days to break convincingly above the $80 per barrel level, suggesting that the market is now toppish and ready for at ... (more...)
Deutsche Bank to slash over 7,000 jobs in major shake-up Deutsche Bank to slash over 7,000 jobs in major shake-up
- May 25, 2018

The bank, which is expected to announce a range of restructuring measures to coincide with its annual shareholder meeting Thursday, will sharply reduce its presence in the USA market, and has also started cutting activity in the Central Europe , Middle East and Africa region, the people said, asking not to be identified discussing private information. (more...)
NTSB: Autonomous Uber spotted pedestrian before deadly crash NTSB: Autonomous Uber spotted pedestrian before deadly crash
- May 25, 2018

This report from the NTSB comes a day removed from Uber announcing it would end its self-driving operations in Arizona and lay off around 300 employees connected to the program. Instead, Uber relies on a human backup driver to intervene. The operator can engage computer control by first enabling, then engaging the system in a sequence similar to activating cruise control. (more...)
Tesla Model 3 sales zoom to the head of its class Tesla Model 3 sales zoom to the head of its class
- May 25, 2018

The public no longer respects the media because of " holier-than-thou hypocrisy " and lies, he said . Musk, 46, was riled by a Robert W. Baird analyst report that said "increasingly immaterial" headlines were dominating Tesla news cycles. (more...)

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