Business


NY Daily News slashes newsroom staffing in half NY Daily News slashes newsroom staffing in half
- July 24, 2018

The email adds that human resources will inform employees of their status by the end of the day. "Just trying to make the best of it", a staffer said. Rich made his anger toward the cuts known on Twitter, first by tweeting early Monday morning: "If you hate democracy and think local governments should operate unchecked and in the dark, then today is a good day for you". (more...)
Tesla asked suppliers for money back to boost profitability Tesla asked suppliers for money back to boost profitability
- July 24, 2018

Despite Musk's explanation, Tesla started Monday's trading on the negative, hitting as low as $293.57 per share after the opening bell. The company's rapidly weakening cash position has spooked investors, and comes despite the claims of founder Elon Musk that Tesla is now a "real" carmaker after hitting a weekly goal of producing more than 5,000 mass-market Model 3s, the rate of production that the manufacturer hopes will turn the company's economic position around. (more...)
Alphabet shares soar despite hit to profit from Google’s European Union fine Alphabet shares soar despite hit to profit from Google’s European Union fine
- July 24, 2018

According to Vestager, Google knew that the European Commission meant to issue a fine over Android antitrust issues since at least 2016. Adjusted Earnings: $11.75 per share compared to an expected $11.68. Pichai also highlighted Alphabet's computing video and advertising platforms, noting that the company generated $7 billion in revenue for its software developers, content creators and publishers. (more...)
28th GST Council meeting in Delhi 28th GST Council meeting in Delhi
- July 23, 2018

Previously, the sanitary pads were kept under the 12 per cent Goods and Services Tax (GST) slab. Despite the praise, some are even arguing that the prices of sanitary napkins will actually go up after this move since local manufacturers, who have to pay input taxes but do not get any input credit, will increase their prices. (more...)
1 in 4 Tesla Model 3 Orders Canceled 1 in 4 Tesla Model 3 Orders Canceled
- July 23, 2018

The Needham & Company report also claimed that customers will have to wait between four months to a year to receive their order for existing models of the auto, or 2020 for the $35,000 basic version - but Tesla told Inverse on Thursday that wait times are in fact closer to one and three months, varying depending on the chosen model. (more...)
Iran will 'suffer consequences' if threats continue Iran will 'suffer consequences' if threats continue
- July 23, 2018

Iran faces increased USA pressure and looming sanctions after Trump's decision to withdraw the United States from a 2015 global deal over Iran's nuclear program. The deal had been a core component of former President Barack Obama's legacy, offering Tehran sanctions relief in exchange for a halt to Iran's nuclear ambitions. (more...)
Tesla reportedly asks for money back on payments to suppliers
- July 23, 2018

He wrote early Monday : "Only costs that actually apply to Q3 & beyond will be counted. It would not be correct to apply historical cost savings to current quarter". Musk has pushed back on naysayers, arguing that the company will be profitable this quarter and next. He had been modeling for Model 3 deliveries around 1.1 million units, and such reduced his volume estimates over a 10-year period by about 42%. (more...)
McDonald’s To Halt Salad Sales In Minnesota McDonald’s To Halt Salad Sales In Minnesota
- July 23, 2018

Last week, the number of cases was 61 people in seven states - 29 in IL, 16 in Iowa, seven in Missouri, three in Minnesota and two each in Nebraska, South Dakota and Wisconsin. Three cases have led to hospitalization. According to the FDA, cyclospora cayetanensis is a microscopic parasite of humans. It takes around a week after exposure for symptoms to appear, and while some people experience no symptoms, others may have "watery diarrhea, with frequent, sometimes explosive, bowel ... (more...)
'Not thrilled' with interest rate hikes 'Not thrilled' with interest rate hikes
- July 23, 2018

Shortly after taking office, Trump withdrew from the Trans-Pacific Partnership (TPP), which he said would steal millions of jobs from Americans, while the North American Free Trade Agreement (NAFTA), signed by Canada, Mexico, and the United States, is now being renegotiated. (more...)
Saudi Arabia Faces Problems Selling Extra Oil After Deal with US Saudi Arabia Faces Problems Selling Extra Oil After Deal with US
- July 23, 2018

How will the oil price going on next? Futures in NY rose 0.9% after gaining 2.1% in the previous three sessions. Saudi Arabia also cut last week its official selling prices (OSPs) by US$0.20 for most of its grades to the Asian markets for August. (more...)
No victor in Mega Millions as prize surges to $493 million No victor in Mega Millions as prize surges to $493 million
- July 23, 2018

If there is a victor, and they take the cash payout, it will be worth $296 million. The jackpot has rolled over 22 times since someone won Mega Millions on May 4. The highest was $533 million, won by Richard Wahl of New Jersey in April. A Powerball jackpot is won by matching five white ball numbers (1-69) and the red Powerball (1-26). (more...)
Salmonella contamination: crackers and chicken nuggets recalled Salmonella contamination: crackers and chicken nuggets recalled
- July 23, 2018

Mondelez International Inc.is recalling some Ritz crackers made with an ingredient that could have salmonella bacteria. There was a similar recalled issued earlier in the week regarding Hungry-Man chicken dinners. "Young children, pregnant women, the elderly and people with weakened immune systems may contract serious and sometimes deadly infections", the agency warns. (more...)
Trump accuses China, EU of currency manipulation, slams Fed Trump accuses China, EU of currency manipulation, slams Fed
- July 23, 2018

On Twitter, Trump also accused China and the European Union of manipulating their currencies to promote their exports at the expense of the USA, and criticized the Fed for raising interest rates . GE, which has been selling and splitting off businesses, also cut its forecast for how much cash its businesses will generate. President Donald Trump on Friday threatened to place tariffs on all goods imported by the U.S. (more...)
Chaos for passengers as BA flight makes emergency landing at Gatwick Chaos for passengers as BA flight makes emergency landing at Gatwick
- July 22, 2018

Gatwick said today's flight schedule had not been affected. The runway at Gatwick Airport has had to be closed and flights have been diverted after an inbound airliner requested an emergency landing. Flight BA2605 was travelling from Naples when it encountered the problem, prompting emergency services to rush to the scene as it landed at the London airport about 12.30am. (more...)
Ritz crackers nationwide due to salmonella
- July 22, 2018

Cheese and pizza flavoured Ritz Bits cracker sandwiches and certain No Name brand chicken nuggets have been recalled due to concerns over the presence of Salmonella . If you have any of these products in your home, the company says you should discard them as soon as possible. For more information on the recall, you're asked to contact the company at 1-844-366-1171, 24 hours a day; consumer relations specialists are available Monday-Friday, 9 a.m. (more...)
Facebook suspends another data firm for possible violations Facebook suspends another data firm for possible violations
- July 22, 2018

For now it's just a suspension - there's no evidence of wrongdoing yet - but Crimson Hexagon was blocked from the Facebook and Instagram feeds after the Wall Street Journal raised questions about its connections to the United States government, a Russian organization linked to the Kremlin, and the Turkish government. (more...)
United States dollar down on as Trump makes fresh threats vs China
- July 22, 2018

Leaders at the Fed seemed unfazed by Trump's remarks, however, emphasizing that USA monetary policy operates independently from political concerns. Analysts said letting it weaken costs China little - for now - while easing the impact of the tariffs. (more...)
Ryanair cancels flights due to stewards' strike, 50,000 passengers affected Ryanair cancels flights due to stewards' strike, 50,000 passengers affected
- July 22, 2018

The company said it could "readily reaccommodate this small number of customers on other flights", and added: "Forsa's lack of urgency is unacceptable when your committee are unable to engage or negotiate". Ryanair has cancelled 600 flights in July due to a strike by cabin crews in Belgium, Portugal and Spain. Cabins Crew United, the union of Ryanair's European Network, announced earlier in the month that it will go on strike in Portugal, Italy, Spain and Belgium on July 25. (more...)
Comicstaan breaks viewing records as Amazon India hails Prime Day success Comicstaan breaks viewing records as Amazon India hails Prime Day success
- July 22, 2018

Haq Se Single, Chacha Vidhayak Hain Humare, and hit Bollywood movies Padmaavat and Sonu ke Titu Ki Sweety, have been particular hits on-demand, said Amazon. According to CEO of Worldwide Consumer Jeff Wilke, Prime Day was an opportunity to reward its members with the best deals and exclusive access to Amazon's new products. (more...)
Transgender woman says Arizona pharmacist REFUSED to fill her hormone treatment
- July 22, 2018

The state law does not mention hormone therapy prescriptions. But added: "I don't want to think about what might happen if this pharmacist mistreats a transgender person who does not have a good social support system". In April, the Trump administration said it planned to roll back a rule issued under former president Barack Obama that prevents doctors and hospitals from discriminating against transgender people. (more...)
Fiat Chrysler names new CEO to replace ailing Marchionne Fiat Chrysler names new CEO to replace ailing Marchionne
- July 22, 2018

Fiat is considered a close-knit family, and FCA chairman John Elkann said he was "profoundly saddened to learn of Sergio's state of health. My first thoughts go to Sergio and his family", says Elkann. His credentials include running the profitable Jeep and Ram brands and he also built the company's presence in Asia. His worldwide background meant that he was perfectly-qualified to work for the tobacco firm, which he joined in 1978 as a business development analyst and four years later ... (more...)
Gold hits 1-year low as dollar firms up Gold hits 1-year low as dollar firms up
- July 21, 2018

The Topix oil and coal products subindex jumped 2.12 percent, recovering after tanking earlier this week on the drop in oil prices. Silver prices, however, edged lower. Palladium was down 0.1 percent at $905.47 per ounce. Elsewhere in Canada, the Canadian Dollar rose against its U.S. counterpart to gain 0.42 percent to trade higher at 1.31899 USDCAD at the close, boosted by a stronger U.S. (more...)
Feminine hygiene now tax-free in India; sanitary napkins out of GST net Feminine hygiene now tax-free in India; sanitary napkins out of GST net
- July 21, 2018

Apart from sanitary napkins and rachis, there will be no GST on stone, marble, wooden deities, sal leaves, etc. These items include refrigerators, washing machines, vacuum cleaners, paints, storage water heaters, food grinders, mixers and television sets up to 27 inches. (more...)
Burberry causes outrage for DESTROYING £28 million worth of clothes each year Burberry causes outrage for DESTROYING £28 million worth of clothes each year
- July 21, 2018

But the value of the brand's waste is six times higher now than in 2013, with more than £90 million of Burberry products destroyed over the past five years, according to the newspaper. The spokesperson said some of the merchandise had to be destroyed due to a deal with USA firm Coty, necessitating the destruction of existing Burberry perfume products. (more...)
McDonald's giving free fries for remainder of 2018 McDonald's giving free fries for remainder of 2018
- July 21, 2018

Customers will be able to get an order of medium fries for free each Friday until December 30th. The company says everyone who downloads the McDonald's app on their phone and registers is eligible for the deals . And it's not just french fries: McDonald's is also offering the same perk mid-week on soft drinks. Customers can only redeem the deal one time each Friday. (more...)
Chinese yuan wilts again, cushioning the blow of Trump tariffs
- July 21, 2018

In particular, manufacturers are finding that their "Keep America Great" hats and "Trump 2020" flags are being held up at US customs, thus delaying their delivery to customers. Rather, he may be prepared to wait as long as he feels it necessary to force other countries to adopt trade rules more favorable to the United States. (more...)
The orders keep flowing at the Farnborough Air Show The orders keep flowing at the Farnborough Air Show
- July 21, 2018

Airbus blamed the reticence of many of this week's customers on trade tensions which had made some companies nervous about appearing to side with the United States or other economic powers in a growing global trade battle. But at air shows, airlines and financial backers often enjoy promotion for their business plans after buying a new fleet, and firms such as Airbus and Boeing invest in lavish facilities providing for press briefings. (more...)
Congress failed its promise to provide electricity: PM Modi Congress failed its promise to provide electricity: PM Modi
- July 21, 2018

Ramchandra Bisht, from Tihri in Uttarakhand, said that employment opportunities have increased in their village after electrification. In April, Modi announced that the Rs 76,000 crore Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) project was completed with the electrification of around 18,000 villages. (more...)
Unemployment rate lowest in over five years Unemployment rate lowest in over five years
- July 21, 2018

Global students are legally limited to 20 hours of employment per week, restricting their impact on the overall labour market. No such inquiry has ever eventuated. Full time employment climbed by 41,200 during the month, whilst part-time staff jumped 9,700. But the under-utilisation rate, a combination of unemployment and workers who would like more hours but are not getting them, remains near its peak of 13.8 per cent. (more...)
Pompeo, Haley call out China, Russia for helping North Korea violate sanctions
- July 21, 2018

Haley added that the US has "photographs of proof" of those transfers and that they continue to happen. The United States last week sent a report to the sanctions committee that said North Korea had secured at least 759,793 barrels of oil products through ship-to-ship transfers at sea. (more...)

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