Business


Trade Dispute between US, China Rises Trade Dispute between US, China Rises
- June 16, 2018

Donald Trump has upped the stakes in the looming trade war with China by confirming he will slap tariffs on $50bn (£37bn) worth of Chinese goods . Most of all, the USA tariffs are a response to China's attempts to supplant US technological dominance, including outright theft of trade secrets and its requirement that US companies share technology in exchange for access to the Chinese market. (more...)
Facebook tells what user information they need, 112.worldwide Facebook tells what user information they need, 112.worldwide
- June 16, 2018

On top of this, there are the 39 questions that were submitted to Facebook by United Kingdom members of parliament that, according to committee investigating Facebook's data privacy and fake news issues, the social network had failed to fully answer . (more...)
1 deputy killed, another critically hurt in KCK shooting 1 deputy killed, another critically hurt in KCK shooting
- June 16, 2018

The investigation into the shooting is continuing. Bailiff said the incident occurred in a "caged" area outside of a courthouse, and that there was no danger to the community. Wyandotte County sheriff's spokeswoman Maj. The wounded deputy, who is female, was in critical condition, Bailiff said. The inmate was taken in a van to a gated area behind the building, and when he got out of van, he somehow overtook and shot the deputies, Bailiff said. (more...)
Boy tells police that driver shot family in road rage run Boy tells police that driver shot family in road rage run
- June 16, 2018

The suspect, Jeremy John Webster, was later arrested without incident near Interstate 25 and Meadows Parkway in Castle Rock. After several hours, police said they had located and arrested the accused shooter, who they identified as 23-year-old Jeremy Webster. (more...)
Seattle divided as leaders halt tax on companies like Amazon Seattle divided as leaders halt tax on companies like Amazon
- June 16, 2018

The lobbying campaign and tax fight comes as cities across the continent are offering Amazon tax breaks and other incentives as part of a competition to be the new headquarters of HQ2, the second Amazon campus. One of the two councilwomen who voted against the repeal called a "cowardly betrayal of the needs of working people", adding it is "capitulation and it's a betrayal", NPR said. (more...)
Plumber in gig economy entitled to worker rights, UK Supreme Court rules Plumber in gig economy entitled to worker rights, UK Supreme Court rules
- June 16, 2018

Supreme Court judges found that plumber Gary Smith , who worked for London-based Pimlico Plumbers between August 2005 and April 2011, wasn't self-employed or a client of the firm, giving him the right to sue the company under discrimination laws. (more...)
Theranos founder Elizabeth Holmes charged with fraud Theranos founder Elizabeth Holmes charged with fraud
- June 16, 2018

The Wall Street Journal reported in April that Theranos would cut its workforce "from about 125 employees to two dozen or fewer", according to sources familiar with the matter. As part of the settlement, neither the company nor Holmes admitted or denied any wrongdoing. The company eventually had to retract or correct the results of tens of thousands of medical tests. (more...)
US announces tariffs on $50B in China imports US announces tariffs on $50B in China imports
- June 15, 2018

As Trump prepares to impose the new tariffs on China, there is already evidence that his programme is having a negative impact on some areas of industry and agriculture in Europe. If Trump continues to pile tariffs on China (he's threatened to do another $100 billion) and China retaliates, then the cost to average family would rise to $210, according to Mark Zandi, chief economist at Moody's Analytics. (more...)
Some American Airlines flights cancelled at ILM due to technical issue Some American Airlines flights cancelled at ILM due to technical issue
- June 15, 2018

American, which is based in Fort Worth, Texas, has been moving passengers to flights on its main jet operations or other regional carriers. Our team, in coordination with PSA, is working hard to resolve the issue as quickly as possible. Meanwhile, auto rental companies said they are bringing in extra cars to help accommodate the stranded airline passengers. A spokesman said Friday morning the problem has been resolved and service was expected to resume at noon. (more...)
McDonald's to replace plastic straws with paper ones in UK and Ireland
- June 15, 2018

The move coincides with the UK's proposal to ban single-use plastic straws and similar products, the first country to propose such a widespread ban. The announcement comes after the fast food chain said in March that it would remove plastic straws, of which it uses around 1.8 million every day in Britain. (more...)
Kellogg recalls cereal for possible Salmonella Kellogg recalls cereal for possible Salmonella
- June 15, 2018

So far, 73 people in 31 states , including Kentucky, have gotten sick. the CDC says it's been linked to Honey Smacks cereal. Based on epidemiological evidence, Kellogg's Honey Smacks cereal is likely the source of the outbreak, the CDC said . (more...)
China warns USA trade deals off if tariff hike goes ahead China warns USA trade deals off if tariff hike goes ahead
- June 15, 2018

The IMF have released a statement warning the USA over its protectionism saying that it would leave "losers on both sides". Beijing has promised to buy more American soybeans, natural gas and other exports as the two sides negotiated. Trump no longer believes that Beijing's influence over North Korea is a compelling reason to ease up on trade talks, now that his administration has opened up a direct line of communication with the nuclear-armed country, the first administration official said. (more...)
Microsoft is developing an Amazon Go competitor Microsoft is developing an Amazon Go competitor
- June 15, 2018

The technology is similar to that used in Amazon's automated stores in that shoppers can add items to their carts, leave the store, and have all the items paid for. Of course, for now Microsoft isn't commenting publicly about any of this. The cashier-less system would be a direct competitor to Amazon Go, Amazon's own attempt to reinvent the physical store with the same mindset that brought one-click shopping to the internet. (more...)
Trump readies $50 billion in tariffs on Chinese goods Trump readies $50 billion in tariffs on Chinese goods
- June 15, 2018

Mr Trump has convened a meeting at the White House on Thursday to talk with his trade team about whether to move forward with tariffs on Chinese goods , according to two people familiar with the plans. "I stress how important it is for President Trump to rectify that situation so that trade becomes more balanced, more reciprocal and more fair, with the opportunity for American workers to be treated fairly". (more...)
Crypto Coins Surge as SEC Spares Ether From Securities Rules Crypto Coins Surge as SEC Spares Ether From Securities Rules
- June 15, 2018

The statements are the latest in a long line of remarks that have found various regulatory officials opining on whether the nature of the sale in which ether was issued made it subject to US securities laws. "This announcement clears a key stumbling block for Ether futures, the case for which we've been considering since we launched the first Bitcoin futures in December 2017". (more...)
OPEC sees uncertain outlook for oil market OPEC sees uncertain outlook for oil market
- June 15, 2018

Judging by auto sales, demand will continue to grow, with China's May sales of new automobiles standing at 2.29 million, up 9.6 percent from the same month previous year, according to the China Association of Automobile Manufacturers (CAAM). (more...)
Russian Federation vs. Saudi Arabia Russian Federation vs. Saudi Arabia
- June 14, 2018

After controversial Federation Internationale de Football Association votes gave the tournament to Russia and Qatar in 2018 and 2022 respectively, the governing body promised to have a more open, transparent process this time. Although the Saudis pressed in the opening moments, Russian Federation created the first clear threat when Mario Fernandes crossed for Fyodor Smolov, whose shot was blocked. (more...)
Average worker can't afford 2-bedroom apartment anywhere in United States, report says Average worker can't afford 2-bedroom apartment anywhere in United States, report says
- June 14, 2018

The minimum wage in Hawaii rose to $10.10 an hour this year. For example, in Arkansas, you only need to earn a little over $13 for a typical 2-bedroom apartment. To define "affordability", it uses the industry standard of spending no more than 30 percent of income on rent. The fair market rent for a two-bedroom unit in New Orleans is about $964. (more...)
Musk chosen to build high-speed airport transit system in Chicago Musk chosen to build high-speed airport transit system in Chicago
- June 14, 2018

That said, with his other companies, Musk has "been able to pursue and fulfill visions that others say are too hard", Mahmassani added. It is unknown when the project will go online , but the concept has made some headway in major U.S. (This means there will be a Loop to The Loop-very cute, Chicago.) Unlike the Hyperloop idea, the tunnels will not be depressurized. "Electric pods for sure", he wrote. (more...)
Elon Musk: Tesla's next-gen Roadster will have an 'Augmented Mode' Elon Musk: Tesla's next-gen Roadster will have an 'Augmented Mode'
- June 14, 2018

That does not mean, however, that they will be able to drive themselves. Shortly thereafter, Musk noted that the "next gen Roadster will be absolutely out of this world" and that "for those who love to drive, there is no finer auto in history and we don't think there will be another". (more...)
Inflation drops for 16th consecutive month to 11.61%
- June 14, 2018

The Retail Prices Index (RPI), a separate measure on inflation, was 3.3 per cent last month, down from 3.4 per cent in April. Ruth Gregory, senior United Kingdom economist at Capital Economics said oil prices are expected to fall later this year and overall "the inflation figures have not altered our view that the [Bank of England's] MPC will probably press ahead and raise interest rates in August". (more...)
Dieselgate: Volkswagen accepts £880 million fine from German court Dieselgate: Volkswagen accepts £880 million fine from German court
- June 14, 2018

The fine follows a USA plea agreement from January 2017 when VW agreed to pay $4.3bn to resolve criminal and civil penalties for installing illegal software in diesel engines to cheat strict United States anti-pollution tests. Analysts at Evercore ISI said this fine would likely help end all criminal investigations against VW in Europe, but would not settle shareholder lawsuits. (more...)
Donald Trump reignites Opec spat over 'too high' oil prices
- June 14, 2018

The benchmark price of crude has surged from around $50 a barrel last summer to within a breath of $80 a barrel a few weeks ago. India and China are discussing ways to boost imports of US crude to Asia, a move aimed at reducing their dependence on cargoes from members of the Organization of Petroleum Exporting Countries, according to an Indian government official. (more...)
Uber seeks patent for AI tech that determines whether passengers are drunk Uber seeks patent for AI tech that determines whether passengers are drunk
- June 14, 2018

Past trip information may be used to "identify how the user activity of the current trip request deviates from previous (or "normal") behavior for that user", the application says. CNN reported that more than 100 Uber drivers in the U.S. had been accused of sexually assaulting or abusing passengers in the past four years, with 31 drivers convicted of crimes including false imprisonment and rape. (more...)
Elon Musk buys 72,500 of Tesla shares Elon Musk buys 72,500 of Tesla shares
- June 14, 2018

Tesla will cut roughly 9 per cent of its workforce as part of a restructuring led by chief executive Elon Musk . "Given that Tesla has never made an annual profit in the nearly 15". Tesla shares rose 2.5 percent to $340.34 in afternoon trading, after reaching as high as $354.97 around noon. The company will seek to re-employ most Tesla employees at Home Depot stores at its own locations. (more...)
US Federal Reserve lifts rates amid stronger inflation US Federal Reserve lifts rates amid stronger inflation
- June 14, 2018

Ahead of the announcement, markets were pricing in a almost 100% chance of a rate hike. Most officials also expect the Fed will have to raise rates at least three times in 2019 and then at least once in 2020. Economic activity is projected to expand 2.4% in 2019, unchanged from the previous forecast; finally, the economy is expected to grow 2.0% in 2020, unchanged from the previous forecast. (more...)
U.S., Mexico, & Canada to Host 2026 World Cup
- June 14, 2018

The Bid Book contains all of the detail of how we would host the World Cup in either 2018 or 22. Herdman, who coached the women's national squad when Canada hosted the FIFA Women's World Cup in 2015, says "we were singing O Canada with 60,000 people, alongside everyone that was watching". (more...)
Bitcoin's soaring value down to manipulation, scientists claim Bitcoin's soaring value down to manipulation, scientists claim
- June 14, 2018

With intentions to investigate the price outsets of Tether to Bitcoin, they choose the sample of 87 of the largest purchases of Bitcoin with Tether from March 2017 to March 2018. Other digital currencies like Ethereum and Litecoin soared at around the same time by as much as 64 percent. Their paper seems to confirm what many have believed for months, if not years, that cryptocurrency markets are susceptible to manipulation. (more...)
Italy and France trade insults as migration row boils over
- June 14, 2018

France and Italy traded insults, rifts widened in Germany's ruling coalition and Austria called for an " axis of the willing " to take action as a simmering row over how Europe should handle irregular migration finally boiled over. Luigi Di Maio, leader of the Five Star Movement (M5S) that makes up Italy's new government alongside the League, minister of labour and, with Salvini, joint deputy prime minister, said that it was "embarrassing" that France "preached to us" as Italy is asking ... (more...)
Uber Tech Could Tell If You're Smashed Before You Get into auto Uber Tech Could Tell If You're Smashed Before You Get into auto
- June 13, 2018

The time of day the ride is requested and pickup location will also be factors in the final outcome. Rideshare giant Uber has applied for a patent in the United States, for software that will develop the ability to detect intoxicated passengers using machine learning. (more...)

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