Business


Poundworld set to appoint administrators, putting jobs in west Cumbria at risk Poundworld set to appoint administrators, putting jobs in west Cumbria at risk
- June 08, 2018

Deloitte has confirmed that a sale via a pre-pack administration could be an option for the company, but this approach would put at risk the jobs of all 5,500 staff members now working for Poundworld and is now the least favoured option when it comes to the future of the chain. (more...)
China offers to buy $70 billion of USA goods
- June 08, 2018

The prospect of an all-out trade war has waned in recent days, with Beijing and Washington softening their rhetoric and ceding some ground, according to analysts. Stripping out price effects, Julian Evans-Pritchard, an economist with Capital Economics, estimated that import volumes in May were still up a seasonally adjusted 5.2% from April, reversing most of the decline since the start of 2018. (more...)
Trump Wants Russia Back In The G-7 Trump Wants Russia Back In The G-7
- June 08, 2018

But before leaving Washington , he made clear that he too has no intention of backing down on his plan to rebalance trade by imposing tariffs on steel, aluminum and other goods imported from U.S. French President Emmanuel Macron warned Trump in a rare rebuke on Thursday that the other six members of the G7 might form their own group, adding that no leader "is forever". (more...)
FCA to launch investigation into TSB's IT failures FCA to launch investigation into TSB's IT failures
- June 08, 2018

FILE PHOTO: Chief Executive of the TSB bank, Paul Pester, poses at the bank's Baker Street branch in London September 9, 2013. She added: "This tone has been set from the top - by Paul Pester - and whether intentionally or not he has not been straight with the committee and TSB customers". (more...)
US trade deficit falls for second straight month in April US trade deficit falls for second straight month in April
- June 08, 2018

The Canadian dollar strengthened to a near one-week high against its USA counterpart on Wednesday as domestic data showed a narrower-than-expected trade deficit but some gains were pared ahead of this week's G7 summit. He has proposed tariffs on up to $150 billion in Chinese imports to punish Beijing for forcing American companies to share technology in exchange for access to China's market. (more...)
NAR: Apple drops iPhone parts orders by 20%; supplier stocks dip NAR: Apple drops iPhone parts orders by 20%; supplier stocks dip
- June 08, 2018

Nikkei reported earlier the Cupertino-based company plans to launch three phones, two of them with an OLED panel, while one sticking with an LCD. As for the latest news, Apple has not made any comments so we'll be updating you guys on the latest. (more...)
Oil prices fall on dip in China demand, surging USA output Oil prices fall on dip in China demand, surging USA output
- June 08, 2018

U.S. West Texas Intermediate (WTI) crude rose $1.22, or 1.88 percent to $65.95 a barrel. Crude prices ticked up Thursday, as the market refocused on geopolitical risks to supply in Iran and Venezuela ahead of a meeting of major producers later this month. (more...)
Trump Spars With G-7 Host Ahead of Summit
- June 08, 2018

Earlier on Thursday, he accused Canadian Prime Minister Justin Trudeau of being "indignant". Pleas by the G7 member countries for exemptions from the USA steel and aluminum tariffs, which went into effect on June 1, have fallen on deaf ears in Washington . (more...)
Google’s new ethics rules forbid using its AI for weapons Google’s new ethics rules forbid using its AI for weapons
- June 08, 2018

Google has published a blog post outlining a new set of AI principles. "As a leader in AI, we feel a special responsibility to get this right". Google pledged Thursday that it will not use artificial intelligence in applications related to weapons, surveillance that violates global norms, or that works in ways that go against human rights. (more...)
Coinbase Says It's 'On Track' to Become a Regulated Securities Firm Coinbase Says It's 'On Track' to Become a Regulated Securities Firm
- June 08, 2018

San Fransico based cryptocurrency exchange Coinbase posted on their blog today that they are on track to become a regulated broker-dealer pending approval by USA federal authorities. While it seems that the SEC legally considers almost every ICO token as a security, no official statements or laws have been issued declaring all ICO tokens as securities; many of them describe themselves as utilities. (more...)
Ghana football rocked by damning documentary Ghana football rocked by damning documentary
- June 08, 2018

Sulley Muntari was accused of slapping and damaging gadgets which belong to Executive Committee of the Ghana Football Association, Moses Armah Parker worth $8000. The scenes in the documentary shown in the 6 000-capacity auditorium of the Accra International Conference Centre drew intermittent uproar from the crowd, which included business leaders, the clergy, civil society leaders, diplomats and sport administrators. (more...)
Australia's Qantas will change Taiwan website reference after Beijing request Australia's Qantas will change Taiwan website reference after Beijing request
- June 08, 2018

Hong Kong and Macau are special administrative regions of China. Qantas said in a statement Tuesday that it still has "some complexity to work through" in terms of "the IT and technology that underpins our websites". China is becoming increasingly vocal about any suggestion that Taiwan is an independent country. "Therefore China's request is legitimate". Joyce said Monday, June 4, 2018, that Australia's flag carrier airline was in the process of changing its website to describe Taiwan as ... (more...)
Kitty Hawk takes pre-orders for Flyer personal aircraft Kitty Hawk takes pre-orders for Flyer personal aircraft
- June 08, 2018

Startup Kitty Hawk is ready to make that dream a reality with the Flyer , a new all-electric ultralight plane. Kitty Hawk says it is now accepting orders for the Flyer, with the first people to be accepted as customers to be called Founder Flyers. (more...)
Cambridge Analytica ex-boss admits getting Facebook data from researcher Cambridge Analytica ex-boss admits getting Facebook data from researcher
- June 08, 2018

Mr Nix in his previous testimony to lawmakers denied that Cambridge Analytica had ever been given data by Aleksandr Kogan, an academic researcher. Cambridge Analytica said after the film was broadcast by Channel 4 television in March that the comments did not "represent the values or operations of the firm". (more...)
The UK Times: UK PM May accused of deceiving ministers over Brexit The UK Times: UK PM May accused of deceiving ministers over Brexit
- June 08, 2018

Back in December, the United Kingdom agreed that in the absence of any other solution, Northern Ireland would remain in "full alignment" with the EU's single market and customs union rules in all relevant sectors. The idea is "to apply a temporary customs arrangement. between the United Kingdom and the EU" that would allow the United Kingdom to sign free trade deals with other countries (but not implement the parts of them relating to tariffs, rendering them largely pointless). (more...)
There Are Now More Job Openings Than Workers To Fill Them There Are Now More Job Openings Than Workers To Fill Them
- June 08, 2018

There are now more job vacancies than unemployed workers to fill them in the USA for the first time since 2000. "This labor market is a headhunter's dream as no company can hire the skilled or unskilled workers they need without an employment agency working for them 24/7 scouring the country for anyone they can find", said Chris Rupkey, chief financial economist at MUFG Union Bank in NY. (more...)
NTSB updates on fatal Model X crash NTSB updates on fatal Model X crash
- June 08, 2018

The report also notes that the auto was in AutoPilot mode for 18 minutes and 55 seconds ahead of the collision. The driver-assist feature was engaged for the last 18 minutes 55 seconds before the collision. The San Mateo Fire Department extinguished the fire. The preliminary results of that NTSB investigation have been released, and they are concerning. (more...)
No, Canada didn't burn down the White House No, Canada didn't burn down the White House
- June 07, 2018

Trump was referring to the war of 1812 between the British and the Americans that resulted in the burning of Washington in 1814, at a time when Canada was still part of the British Empire. Macron expressed support for Trump in his expected summit with the North Korean leader, Kim Jong-un, but also warned that the U.S. president's abrogation last month of a 2015 multilateral deal on the Iranian nuclear programme, cast doubt on the credibility of such agreements. (more...)
Ethiopian government set to finally end state of emergency Ethiopian government set to finally end state of emergency
- June 07, 2018

This is critical for the two countries & the broader Horn. Now, the ball is in Afeworki's court. As a result, Ethiopia had refused to withdraw its troops out of the disputed areas - leading Eritrea to accuse Ethiopia of forcefully occupying its territory. (more...)
Heinz Salad Cream to be renamed after 104-years of production Heinz Salad Cream to be renamed after 104-years of production
- June 07, 2018

Of course, Heinz is not the first food company to pitch a major rebrand. Anyway, apparently this change is for real and important people at Heinz are examining mocked-up "sandwich cream" logos right now, so if you don't want to see another bit of Britain crumble to millennial homogenisation where names of products also have to say what they do lest people hurt or confuse themselves, get your petition underway. (more...)
The Koch Brothers Are Taking On Donald Trump Over Tariffs The Koch Brothers Are Taking On Donald Trump Over Tariffs
- June 07, 2018

In October 2016, David Koch had announced to employees that his health was declining and he had been hospitalized over the summer. "Due to health reasons, David Koch will be resigning from the board of Americans for Prosperity Foundation", Mark Holden, who co-chairs the Seminar Network, said in a statement. (more...)
Australia charges 3 banks plus 6 staff with cartel crimes Australia charges 3 banks plus 6 staff with cartel crimes
- June 07, 2018

Before he left, he had dual roles as head of global markets in Asia Pacific, and chief country officer for Australia. The charges represent the latest blow to Australia's scandal-plagued financial industry and threaten to further undermine public confidence in big banks in Australia. (more...)
Burger King reopens after video of rodents on hamburger buns Burger King reopens after video of rodents on hamburger buns
- June 07, 2018

Video of rodents running through a pallet of buns at a DE restaurant is quickly going viral. Dr Karyl Rattay from the Division of Public health sent a letter to the restaurant owner Rackon Restaurants LLC, ordering them close due to an " imminent health hazard " because of " gross unsanitary conditions " and "rodent infestation". (more...)
ZTE will reportedly pay over $1 billion to lift United States ban ZTE will reportedly pay over $1 billion to lift United States ban
- June 07, 2018

Reuters reported Tuesday that under the preliminary agreement, ZTE would pay a $1 billion fine in addition to another $400 million in an escrow in case it commits future sanctions violations. The company relies on USA -made components for many of its products, and also sells many of those products to US customers. Since the decision came into force last month , President Donald Trump has appeared to open the door on a compromise after announcing on Twitter that he would help the group ... (more...)
GM Amps Up Tesla Challenge With All Cadillacs Getting Hands-Free Drive GM Amps Up Tesla Challenge With All Cadillacs Getting Hands-Free Drive
- June 07, 2018

Super Cruise is an evolution of the adaptive cruise control and lane keeping you may have in your own vehicle, but it adds a couple of important new features that even Tesla's very capable Autopilot lacks. Reuss' comments reaffirm GM Chairman and CEO Mary Barra's pledge in her keynote address at the 2014 ITS World Congress, where she announced Cadillac would begin offering advanced intelligent and connected technology in its vehicles. (more...)
Chinese firm ZTE reaches preliminary agreement with U.S. to restore business
- June 07, 2018

On Tuesday, Commerce Department spokesman James Rockas confirmed that "no definitive agreement [had] been signed by both parties". ZTE declined to comment. Senate Minority Leader Chuck Schumer told Reuters he thought Congress should immediately take action to try to block the deal. In 2018, the government placed a seven-year US parts supply ban on ZTE, as it claimed the company had not yet disciplined 35 of its employees, which was a condition of the 2017 deal. (more...)
Bayer Plans to Close on Monsanto June 7 Bayer Plans to Close on Monsanto June 7
- June 07, 2018

However, the company name so connected with concerns over glyphosate , the main ingredient in Monsanto's product Roundup, will vanish following the company's acquisition by Bayer - a deal described as "a marriage made in hell". However, being "fully aware" of the challenge and ditching a negative moniker is only the beginning of a long road to fix Monsanto's reputation. Bayer originally announced its plans to buy Monsanto in 2016 for a price of more than $60 billion. (more...)
EU says tit-for-tat tariffs against US ready in July EU says tit-for-tat tariffs against US ready in July
- June 06, 2018

The EU exported some 5 million tonnes of steel to the US previous year. "The new duties start applying in July", European Commission Vice-President Maros Sefcovic told reporters. Some of the products chosen are created to target states of senior Republicans who are seeking to retain control of both chambers of Congress in hotly contested November elections. (more...)
Cabinet approves Rs 8,500 cr bailout package for sugar industry Cabinet approves Rs 8,500 cr bailout package for sugar industry
- June 06, 2018

Government sources said a package of around Rs 8,000 crore may be announced to reduce the stress in the sugar industry with an eye on clearing the dues of sugarcane farmers . The arrears have crossed Rs 22,000 crore, more than half of which is for farmers from UP. To ensure more sugarcane is diverted for producing ethanol which could be blended with petrol, the Government made provision to give soft loans worth Rs 4,440 crore to sugar mills for augmenting their ethanol production ... (more...)
Rail disruption following timetable changes on Northern and GTR Rail disruption following timetable changes on Northern and GTR
- June 06, 2018

The Prime Minister's official spokesman said: "We have tremendous sympathy with everyone who has had their rail journey delayed or disrupted". Services in areas including Manchester, Liverpool, Blackpool and the Lake District are affected - and beleaguered passengers have been told the emergency alterations will take two or three days to "bed in". (more...)

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