Business


Italy's Political Deadlock Ends With Swearing-In of New Government Italy's Political Deadlock Ends With Swearing-In of New Government
- June 04, 2018

Economist Paolo Savona - whose nomination by M5S and League in their previous government attempt triggered the confrontation with the president, and the failure of their bid - will now serve as Minister of European Affairs, according to Conte. (more...)
Alibaba and RoboSense announce G Plus solid-state LiDAR unmanned logistics vehicle Alibaba and RoboSense announce G Plus solid-state LiDAR unmanned logistics vehicle
- June 04, 2018

By working in conjunction with FAW Jiefang, a truck maker under the vast FAW Group, Cainiao released a driverless truck on Thursday. According to the set data, the entire motorcade is running at a fixed distance. Known as the " G Plus ", the vehicle features a solid-state LiDAR (Light Detection and Ranging) system that enables it to operate without any human intervention. (more...)
Dog found dead in carrier during Delta layover Dog found dead in carrier during Delta layover
- June 04, 2018

It appears Alejandro was on Delta's 11 p.m. flight on May 29, from Phoenix Sky Harbor International Airport to Detroit, given the scheduled arrival time of 6 a.m. Delta Airlines says it is investigating the death of a dog on board one of its planes, CBS New York reports . In a statement to Newsweek , Delta Airlines said they are working with Alejandro's family and are conducting a review of the situation. (more...)
Brazil's Petrobras stocks tumble as CEO steps down Brazil's Petrobras stocks tumble as CEO steps down
- June 03, 2018

Workers pedal their bicycles past a banner with a message that reads in Portuguese: "Get out Parente", in reference to Pedro Parente, the president of the state-owned oil company, at the entrance of a Petrobras refinery during a strike in Duque da Caxias, Brazil, Wednesday, May 30, 2018. (more...)
Italy swears in first fully populist government
- June 03, 2018

The new deal has not yet been blessed by Italian president Sergio Mattarella , who earlier this week nominated a technocrat, Carlo Cottarelli , to serve as prime minister. The new deal will see Di Maio take on the role of industry minister and Salvini interior minister, while little-known economics professor Giovanni Tria will take over the pivotal economy ministry job. (more...)
Japan Bank Puts $2bn in GM Self-Driving Cars Division Japan Bank Puts $2bn in GM Self-Driving Cars Division
- June 03, 2018

The capital infusion is created to speed large-scale deployment of self-driving robotaxis next year. GM has been a long-time advocate of self-driving technology and this latest investment from the SoftBank Vision Fund is set to help it achieve its self-driving safety and development ambitions. (more...)
US unemployment falls to nearly 1969 levels US unemployment falls to nearly 1969 levels
- June 03, 2018

Service providers boosted employment by 171,000, led by increases in retail, education and health services, leisure and hospitality, and transportation and warehousing. Revisions to prior reports added a total of 15,000 jobs to payrolls in the previous two months, resulting in a three-month average of 179,000. We had more people coming into the labor market. (more...)
Stocks open with solid gains after upbeat May jobs report Stocks open with solid gains after upbeat May jobs report
- June 03, 2018

Officials continued to respond to President Donald Trump's decision Thursday to impose trade tariffs on imported steel and aluminum from Europe, Mexico and Canada, with French Finance Minister Bruno Le Maire warning at a Group of Seven ministerial in Canada that Trump was risking "economic destabilisation of the planet". (more...)
TSX closes down while USA stocks surge higher TSX closes down while USA stocks surge higher
- June 03, 2018

Canada Goose Holdings Inc jumped 6.7 percent and BRP Inc rose 5.8 percent while Birchcliff Energy Ltd climbed 4.8 percent. The spread between Brent crude oil and U.S. Average hourly earnings, meanwhile, rose 0.3% last month while the unemployment rate ticked down to 3.8%. In New York, the Dow Jones industrial average was down 238.94 points to 24,428.84. (more...)
Italy's coalition government sworn in Italy's coalition government sworn in
- June 03, 2018

Milan's stock index was trading up 2.6 percent and Italy's borrowing rates eased further after having soared earlier in the week when it appeared that Italy was heading into a new election that could have turned into a referendum on Europe's shared euro currency. (more...)
Mothercare set to close 50 stores putting 800 jobs at risk Mothercare set to close 50 stores putting 800 jobs at risk
- June 03, 2018

Mothercare today said it had received the backing of creditors to press ahead with the CVA . It employs about 3,000 staff across 137 outlets nationwide, including three in Kent - at Bluewater, Canterbury and Maidstone. Interim executive chairman Clive Whiley said the CVA would provide a "solid platform" in which to target growth in the United Kingdom and overseas. (more...)
Petrol, diesel prices cut for 4th straight day Petrol, diesel prices cut for 4th straight day
- June 03, 2018

Petrol in Delhi will now cost Rs 78.20 a litre, down from yesterday's Rs 78.29. The revised diesel prices in other metro cities are - Rs 71.66 in Kolkata, Rs 73.58 in Mumbai and Rs 72.97 in Chennai. 2.34 for subsidized and Rs 48 for non-subsidised cylinders. This is the fourth straight day of price reduction after oil marketing firms raised fuel rates for 16 consecutive days after the end of the Karnataka polls to catch up with sharply rising crude oil prices on the global market. (more...)
Frustration boils over at Facebook's annual shareholder meeting Frustration boils over at Facebook's annual shareholder meeting
- June 03, 2018

The vote in his favour was helped by his special class of shares , which gives Zuckerberg ten times the votes compared to normal stock. In a shareholder meeting that appeared chaotic, Zuckerberg and his board of directors escaped unscathed from various votes aimed at changing the company's governance, due to the voting structure. (more...)
Google won't renew its U.S. Defense Department contract in 2019 Google won't renew its U.S. Defense Department contract in 2019
- June 03, 2018

More than 4,600 employees signed a petition calling for Google to cancel the deal , with at least 13 employees resigning in recent weeks in protest at Google's involvement, according to a second person familiar with the deal. Project Maven has sparked an intense debate within the company about Google's corporate ethics. Critics of these protests point out that the DoD used Google tech in the past , and it certainly won't stop developing AI, even if Google ends their contract. (more...)
New US tariffs would make trade deals void, China says
- June 03, 2018

The warning came after delegations led by U.S. Commerce Secretary Wilbur Ross and China's top economic official Vice Premiere Liu He wrapped up a meeting on Beijing's pledge to narrow its trade surplus. On Friday, the United States' closest allies attacked the Trump administration over the tariffs, with Japan calling the US action "deeply deplorable" during a meeting of G7 finance leaders in Canada. (more...)
Avoiding meat and dairy is 'biggest way' to reduce impact on Earth Avoiding meat and dairy is 'biggest way' to reduce impact on Earth
- June 03, 2018

From farm to table, they looked at how these different products stack up in terms of greenhouse gas emissions (GHG), land and water use, ocean acidification, and water pollution. This is largely due to the methane produced by the unconsumed fish feed and excreted material, which deposit at the bottom of the lake. And, if you still crave meat, there are ways of eating it in a more sustainable way. (more...)
Funeral firms face competition and regulation probe amid concern over prices Funeral firms face competition and regulation probe amid concern over prices
- June 03, 2018

The industry is now self-regulated and overseen by the Funeral Planning Authority (FPA). Now the majority of the market is voluntarily regulated by the Funeral Planning Authority, whose code of practice is not legally binding and which can't stop providers from trading. (more...)
Deutsche Bank says financial strength 'beyond doubt' after ratings downgrade Deutsche Bank says financial strength 'beyond doubt' after ratings downgrade
- June 03, 2018

The stock decreased 6.78% or $0.78 during the last trading session, reaching $10.78. DB has 31.99M volume or 545.81% up from normal. The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -29.92%, and has a solid year to date (YTD) performance of -39.2% which means that the stock is constantly adding to its value from the previous fiscal year end price . (more...)
Air India sale exposes hurdles for Modi's divestment drive Air India sale exposes hurdles for Modi's divestment drive
- June 03, 2018

Some media had reported that Singapore Air, Qatar Airways and conglomerate Tata Group were potential bidders, but in the end none showed up. In a major setback to the Air India (AI) disinvestment process, the government said no initial bids were received for the proposed strategic stake sale of the airline by the deadline today, and that "further course of action will be decided appropriately". (more...)
Bank Of Nova Scotia (BNS) Holder Highstreet Asset Management INC Upped Stake Bank Of Nova Scotia (BNS) Holder Highstreet Asset Management INC Upped Stake
- June 03, 2018

The fund manages about $1.53B US Long portfolio. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. Ladenburg Thalmann Financial Services Inc.'s holdings in Bank of Nova Scotia were worth $345,000 at the end of the most recent reporting period. (more...)
2 winning LOTTO MAX tickets sold in Brampton
- June 03, 2018

Two tickets sold in the Sault Ste. Marie and Sault and area won $500,000 each in separate Maxmillions draws. Players can purchase tickets at authorized OLG retailers or buy online at PlayOLG.ca until 10:30pm on Friday, June 8 for the draw that evening. (more...)
Thameslink apologises after comparing services to 'Poundland chocolate' Thameslink apologises after comparing services to 'Poundland chocolate'
- June 03, 2018

Lilian Greenwood, chair of the Transport Select Committee, described the cancellation of hundreds of trains on the Northern and Govia Thameslink Railway (GTR) network as a "complete shambles". Mr Grayling also criticised Network Rail, saying it "cannot cope" with the workload, and its performance was "simply unacceptable". GTR said it expected disruption to ease "over the coming month". (more...)
Samsonite's CEO resigns after short-seller report Samsonite's CEO resigns after short-seller report
- June 03, 2018

Last week, short-selling activist fund Blue Orca accused Tainwala of claiming to have a doctorate in business administration. The CEO of U.S. luggage manufacturer Samsonite has resigned following accusations made in a report by investment firm Blue Orca. (more...)
Lowest-paid workers to find out rise Lowest-paid workers to find out rise
- June 03, 2018

Friday's move affects about 2.3 million employees, or 20 percent of Australia's workforce, and was opposed by business groups which argued that higher pay awards would kill jobs. ACTU secretary Sally McManus said the ruling was a step forward for workers. "Even though the economy is apparently strong, this decision will still leave many full-time workers living in poverty", he said. (more...)
Decline in Peteroleum Prices Because of the Increase in US Reserves Decline in Peteroleum Prices Because of the Increase in US Reserves
- June 03, 2018

Credit Suisse analysts two days ago said even if Russian Federation and OPEC producers raise output, they would likely only add an additional 500,000 bpd. "The increase in output will be dictated by market conditions and all the numbers circulated about size of the increase or the timing are mere speculation", the source said, adding that any move would be "a collective action". (more...)
OPEC Puts Oil Markets On Edge OPEC Puts Oil Markets On Edge
- June 03, 2018

Oil prices retreated on Friday after the dollar rose on better-than-expected US employment data, which pressured greenback-denominated commodities, including crude. Brent crude is 0.9 per cent higher this week, even as investors await news on whether OPEC and its allies will agree to boost production. "The big thing is the increasing spread between Brent and WTI". (more...)
FCA targets overdrafts and high-cost credit to help vulnerable consumers FCA targets overdrafts and high-cost credit to help vulnerable consumers
- June 03, 2018

The regulator is also seeking feedback on a proposal to ban the sale of extended warranties at point of sale, which could save consumers up to 7.7 million pounds a year. The FCA believes the harm identified in this market is sufficient in principle to consider a cap on rent-to-own prices. The home collected credit lender said it was "pleased" to see the United Kingdom regulator try to implement new rules in the sector to "ensure fair customer outcomes". (more...)
ANZ, Deutsche Bank, Citigroup face criminal cartel charges ANZ, Deutsche Bank, Citigroup face criminal cartel charges
- June 03, 2018

The allegations concern arrangements for the sale of A$2.5bn (£1.4bn; $1.9bn) worth of ANZ shares in 2015. One of Australia's largest banks faces criminal charges for alleged cartel conduct after an investigation found some senior staff colluded to invest in their own shares to drum up capital. (more...)
Northern Rail will axe 150 daily trains amid timetable chaos Northern Rail will axe 150 daily trains amid timetable chaos
- June 03, 2018

Sheffield loses out to Leeds and Manchester in Channel 4 headquarters shortlistThe Rail, Maritime and Transport union said "ill-conceived" timetable changes, combined with staff shortages and the "incompetence" of private rail companies, have reduced services to "chaos". (more...)
Canadian finance minister: Trump tariff rationale 'absurd' Canadian finance minister: Trump tariff rationale 'absurd'
- June 03, 2018

Morneau is hosting finance ministers and central bankers from the G7 group of rich nations at the mountain resort town of Whistler. He called the Trump administration's rationale for the tariffs "absurd". Officials at the G-7 meeting have expressed frustration over the U.S. decision to take unilateral action amid ongoing trade negotiations. U.S. Treasury Secretary Steven Mnuchin will meet with Morneau on Thursday. (more...)

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