Business


HTC is firing 25% of its staff to cut costs once again
- July 02, 2018

The mobe maker has persistently failed to come up with anything that pushes it ahead of competitors, leading to a billion-dollar deal late a year ago with Google to effectively sell 2,000 of its handset engineers to the monster web corp. To further this initiative, HTC will complete laying off 1,500 employees by September this year. 2018 hasn't been the best year for HTC . Earlier this year, HTC reported a 55.5% plunge in April revenues year-over-year and a 46.7% slide in March sales. (more...)
Mnuchin Calls Threats To Leave World Trade Org An 'Exaggeration' Mnuchin Calls Threats To Leave World Trade Org An 'Exaggeration'
- July 02, 2018

It is unlikely that Trump will ultimately pull the USA out of the WTO , the report said, and White House officials said there was no plan to do so. Trump also said it would impose measures to limit Chinese investment in the US technology sector. Trump's tariffs and trade rhetoric continue to shake up the business world on a regular basis - with the latest major development being Harley-Davidson's decision to move their manufacturing operation overseas. (more...)
Amazon Program Aims To Boost Delivery Services Amazon Program Aims To Boost Delivery Services
- July 02, 2018

The ecommerce giant is seeking to assist hundreds of new small businesses to employ tens of thousands of delivery drivers across the USA by providing discounted vehicles, fuel, insurance, uniforms and access to "sophisticated delivery technology", the Seattle-based company said in a statement on Thursday. (more...)
GM WARNS: Trump's tariffs 'undermine our ability to compete' GM WARNS: Trump's tariffs 'undermine our ability to compete'
- July 02, 2018

Department of Commerce that was published Friday. Their statement came in response to Trump's request to the Commerce Department to conduct an investigation and determine whether imports of vehicles are a threat to national security. "The overbroad and steep application of import tariffs on our trading partners risks isolating U.S. businesses like GM from the global market that helps to preserve and grow our strength here at home", GM said. (more...)
Iran announces plan to circumvent U.S. oil sanctions
- July 02, 2018

But Saudi Arabia , OPEC's biggest producer, was keen to raise output to meet calls from Trump and major consumers such as India and China to help cool oil prices and avoid shortages, according to Saudi officials including Energy Minister Khalid al-Falih. (more...)
Trump on trade: European Union 'possibly as bad as China' Trump on trade: European Union 'possibly as bad as China'
- July 02, 2018

The European Union says that for some goods, such as trucks, United States import duties are higher. Meanwhile, the European Union argued that the US's comparably low auto import tariff was countered by higher rates on other vehicles, such as lorries. (more...)
Canada tariffs on US goods from ketchup to lawn mowers begin
- July 02, 2018

Some U.S. products, mostly steel and iron, face 25 percent tariffs, the same penalty the United States slapped on imported steel at the end of May. Some of Canadian tariffs on USA items are politically targeted. "We are encouraging New Brunswick companies to look at new markets and how they can diversify, and how we can help them", explains N.B. Trade Policy Minister Roger Melanson. (more...)
Carrefour, Tesco in joint purchasing alliance Carrefour, Tesco in joint purchasing alliance
- July 02, 2018

The traditional big four United Kingdom supermarket chains - Tesco, Sainsbury's , Asda and Morrisons - have faced increasing competition from the rapidly-expanding budget chains Lidl and Aldi over the past few years, and there is now the added threat of internet giant Amazon moving into the sector. (more...)
Tesla hits Model 3 manufacturing milestone, hours after deadline Tesla hits Model 3 manufacturing milestone, hours after deadline
- July 02, 2018

In an email , Mr Musk praised staff for reaching the much-delayed goal, helped by setting up production in a tent. In May, Tesla sent a new battery assembly line via cargo planes to its Gigafactory battery plant outside Reno, Nevada in order to speed production, as first reported by Reuters . (more...)
Canada hits $13 billion of US goods with new tariffs
- July 02, 2018

President Donald Trump spoke late Friday to discuss trade and other economic issues, the White House said Saturday. The American goods that Canada has placed tariffs on include ketchup, lawn mowers and motorboats. "The big thing is the cars". He's also blamed it for the loss of American jobs and companies. If you look at what's happened to steel and aluminum, we have practically built a new industry in a period of four, five months. (more...)
Gareth Southgate: Colombia clash is England's biggest in a decade Gareth Southgate: Colombia clash is England's biggest in a decade
- July 02, 2018

Six of England's eight goals in two games in Russian Federation so far have come from set pieces. "He knows the belief I have in him". "We've got 20 outfield players who have now played in a World Cup. He said: "To be honest, I'm not a Jesse, who has his celebrations stored". Statistics suggest that players have an 89 percent chance of scoring if the team's last two shootouts have been successful. (more...)
Vancouver restaurant manager fired for refusing service to customer wearing Trump hat Vancouver restaurant manager fired for refusing service to customer wearing Trump hat
- July 02, 2018

The customer countered that he had a right to wear what he wanted, Crimp said , and Hodge allegedly answered that he wouldn't serve the man if he didn't remove his hat. If Sequoia had a policy in place that spoke to inclusivity and the grounds on which service could be denied, then the company would be within its rights to fire the manager with cause, she said. (more...)
Business, Constellation Brands: Fiscal 1Q Earnings Snapshot Business, Constellation Brands: Fiscal 1Q Earnings Snapshot
- July 02, 2018

Ibm Retirement Fund owns 3,977 shs. Wespac Advsrs Limited Liability holds 0.14% in Constellation Brands , Inc. (NYSE: STZ ). United Services Automobile Association holds 0.04% in Constellation Brands, Inc . Constellation Brands stock sold off early Friday, falling back from near a buy zone. "Buy" rating has 9, "Sell" are 0, while 2 are "Hold". Royal Bank of Canada restated a "buy" rating and set a $280.00 target price on shares of Constellation Brands, Inc . (more...)
Tata Steel and Thyssenkrupp agree merger deal Tata Steel and Thyssenkrupp agree merger deal
- July 02, 2018

However, the transaction is subject to merger control clearance in several jurisdictions, including the European Union (EU). "The joint venture will create a strong pan-European steel company that is structurally robust and competitive. (more...)
Iran asks OPEC to 'refrain' from unilateral production hikes
- July 02, 2018

President Donald Trump accused OPEC of manipulating world oil markets and warned it to stop, while also saying the United States will sanction European companies that do business with Iran . Saudi Arabia now produces some 10 million barrels of crude oil a day. In a statement issued Saturday night, the White House seemed to walk back Trump's tweet. (more...)
Canada retaliates, starts tariffs against the US Canada retaliates, starts tariffs against the US
- July 02, 2018

The penalties will add 25 percent to the cost of USA steel, and 10 percent to aluminum and consumer goods. Included are "toffee, maple syrup, coffee beans and strawberry jam", CNN reported . Some of the countries have already retaliated and filed legal challenges with the World Trade Organizaion. "I received calls from the President of Mexico and the Prime Minister of Canada asking to renegotiate NAFTA rather than terminate". (more...)
US Coast Guard searching for missing cruise ship crewmember north of Cuba US Coast Guard searching for missing cruise ship crewmember north of Cuba
- July 02, 2018

The crew member was found and rescued by Carnival Glory 21 miles north of Cuba. The U.S Coast Guard is searching for a missing crew member after going overboard the Norwegian Getaway cruise ship on Saturday, June 30. Carnival Glory is now on a seven night cruise to the Western Caribbean from Miami . Our thoughts go out to the crew members family and friends during this very hard time. (more...)
Trump says Saudi Arabia will boost oil production up to 2M barrels Trump says Saudi Arabia will boost oil production up to 2M barrels
- July 02, 2018

Saudi Arabia's pledge followed a meeting earlier this month in Vienna of OPEC members, Russian Federation and other oil producing countries. Output is expected to rise to 11 million barrels in July, according to Reuters . The telephonic call between Trump and King Salman on Friday assumes significance in view of the increasing global oil prices, and U.S. asking countries to stop purchasing oil from Iran, which is a major supplier of oil to countries across the globe including India and ... (more...)
Thyssenkrupp, Tata Steel seal landmark joint venture deal Thyssenkrupp, Tata Steel seal landmark joint venture deal
- July 02, 2018

It added that the "signing of the definitive agreement is expected shortly" and that the deal would be subject to clearance in several jurisdictions, including the European Union. "With the joint venture we create a highly competitive European steel player - based on a strong industrial logic and strategic rationale", Heinrich Hiesinger, CEO of Thyssenkrupp, said in the statement . (more...)
Canada begins tariffs on U.S. steel, iron, ketchup, more
- July 02, 2018

Trump and Trudeau spoke by phone late Friday after Canada announced it would impose its own tariffs in retaliation for the USA tariffs on steel and aluminum imports. During the call, Trudeau told Trump that Canada had no choice but to announce reciprocal countermeasures to the steel and aluminum tariffs, according to a separate statement issued by Canada late on Friday. (more...)
Amazon wants you to start a business to deliver its packages Amazon wants you to start a business to deliver its packages
- July 02, 2018

And Amazon says it will continue to use other delivery companies, and that this program is just another way to meet the growing amount of packages it needs to ship. Drivers will be full-time workers instead of contractors, and Amazon will require business owners to give them paid time off and other benefits. The entrepreneur will be responsible for hiring delivery people, and Amazon would be the customer, paying the business to pick up packages from its 75 delivery centers around the ... (more...)
GM Warns Trump’s Tariffs Will Force Job Cuts, Hurt Competitiveness
- July 01, 2018

In such a situation, GM said, it would either have to raise prices or move its manufacturing facilities. In a statement submitted to the Commerce Department, General Motors says tariffs will undermine its ability to compete against foreign automakers "by erecting broad brush trade barriers that increase our global costs, remove a key means of competing with manufacturers in lower-wage countries, and promote a trade environment in which we could be retaliated against in other markets". (more...)
GST anniversary: GST anniversary: "Gamechanger" or "surgical strike"? Top leaders speak up
- July 01, 2018

It was introduced turn India into a common national market by removing fiscal barriers among states and consolidating a patchwork of 17 local and central duties such as value added tax, central excise, special additional duties, cesses, and service tax into a single levy. (more...)
Boeing unveils concept for hypersonic passenger jet Boeing unveils concept for hypersonic passenger jet
- July 01, 2018

The idea of going from London to NY and back in a day may one day become a reality. Boeing says the jet could get you anywhere in the world in just one to three hours. Aircraft manufacturers Boeing have been looking for ways to use new hypersonic technologies in passenger aircraft. Fourteen airplane of the fleet had transported first class passengers from NY to London at 2,177.44 Kilometers per hour - about twice the speed of the sound - and in only 3.5 hours, half the time required for the ... (more...)
Farting unicorn sparks legal battle between Colorado artist and Elon Musk
- July 01, 2018

Tesla can start to eat through that demand. Dynamic suspension and dual motor power-train is mostly going to be the standard model like it is involved with Model X and Model S. The huge tent contains a auto assembly line constructed using spare parts. "The originally assumed hours per vehicle, which had to be ridiculously low because it was to be an "Alien Dreadnought" super-automated production process, are now out the window". (more...)
United Kingdom first quarter GDP growth revised up to 0.2%
- July 01, 2018

Government statisticians said fresh figures from the construction industry and improvements for measuring the sector had nudged up the growth rate. During the early part of the year, Britain was hit by unusually icy weather, on top of a squeeze on consumers from inflation caused by a weak pound and many businesses' reluctance to invest while the terms of Britain's March 2019 exit from the European Union remain unclear. (more...)
Musk's Tesla asks Model 3 reservation holders for $2,500 to confirm orders Musk's Tesla asks Model 3 reservation holders for $2,500 to confirm orders
- July 01, 2018

In its lawsuit, Tesla specifically named former employee Tripp of providing news outlets with false information about factory problems. While, the analyst predicted that the company could provide an EPS of $-3.58/share. Tesla traded up $2.50, hitting $344.50, during mid-day trading on Wednesday, MarketBeat reports. Out of 22 analysts polled in the last 3 months, 7 are bullish on Tesla stock, 9 remain sidelined, and 6 are bearish on the stock. (more...)
Activists Protest Enbridge Line 3 Decision Activists Protest Enbridge Line 3 Decision
- July 01, 2018

A day after state regulators granted a critical approval for a new pipeline across northern Minnesota, both supporters and opponents of Enbridge Energy's Line 3 are preparing for months of continuing debate before ground is broken on the project. (more...)
Saudi Arabia pledged to expand oil capacity if needed: White House
- July 01, 2018

Trump said in a tweet, citing a phone call with Saudi King Salman. Trump told King Salman bin Abdulaziz Al Saud that the oil market could use a boost in production when the two men spoke on Friday, the White House said. Non-OPEC member Russian Federation on June 23 also backed the effort, capping a week of tense diplomacy for the grouping that averted a damaging rift between arch foes Iran and Saudi Arabia. (more...)
Xiaomi IPO Fails to Raise Anticipated Funds After Low End Pricing Xiaomi IPO Fails to Raise Anticipated Funds After Low End Pricing
- July 01, 2018

Billionaire George Soros and Chinese investment firm Hillhouse Capital (高瓴資本) were among investors that placed orders for Xiaomi IPO shares, people with knowledge of the matter said earlier. The Beijing based company is the first tech listing in Hong Kong after rules were changed to allow founders to keep outsized voting rights. One third of the IPO's proceeds will fund Xiaomi's hardware research and development, another third will finance its global expansion and the rest will be used ... (more...)

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