Business


Doug Field, former Tesla engineering chief, returns to Apple Doug Field, former Tesla engineering chief, returns to Apple
- August 13, 2018

The company confirmed he stepped down in July, and now he's going to work on Apple's Project Titan , alongside Bob Mansfield. Field's career at Apple began in 2008, where he spent five years as a lead hardware engineer for Mac computers and Apple's general product design. (more...)
Saudi Arabia eyes enlarged stake in Musk’s private Tesla Saudi Arabia eyes enlarged stake in Musk’s private Tesla
- August 13, 2018

It comes after Mr Musk publicised plans to take Tesla private for $420 (£329) a share, a deal that would value the company at $82bn, including debt. Elon Musk stunned investors last week with his tweet . Tesla is facing a make-or-break moment in its eight-year history as a public company, as competition from European automakers is poised to intensify with new electric vehicles from Mercedes, Audi, BMW and other rivals. (more...)
Asia shares dip as Turkey's lira tanks
- August 13, 2018

U.S. President Donald Trump has feuded with Erdogan over several issues, including the detention of an American pastor in Turkey , whom Turkey has held since 2016 and accused of espionage. Asian and European markets tumbled and the Turkish lira dived nearly 8 per cent Monday on fears that the economic crisis gripping Turkey could spill over into the global economy. (more...)
Ticketmaster to shut Seatwave and GetMeIn resale sites Ticketmaster to shut Seatwave and GetMeIn resale sites
- August 13, 2018

In some brilliant news for gig-goers, Ticketmaster has confirmed it will be shutting down ticket re-sale site Seatwave. . Ticketmaster has announced that it is closing down secondary resale websites Seatwave and Get Me In. Ticketmaster said in a blog post that consumers have become "tired of seeing others snap up tickets just to resell for a profit", and that the sites "just don't cut it anymore". (more...)
Indian Rupee hits fresh record low of 69.61 per Dollars Indian Rupee hits fresh record low of 69.61 per Dollars
- August 13, 2018

The benchmark indices ended lower taking cues from their global cues. The S&P BSE Sensex opened at 37,693.19 and the Nifty50 at 11,474.95. Meanwhile, Asian share markets skidded and the euro hit one-year lows on Monday as a renewed rout in the Turkish lira infected the South African rand and drove demand for safe harbours, including the USA dollar, Swiss franc and yen, stated a report by news agency Reuters. (more...)
Yale University Publish Research that Might Help Predicting Bitcoin (BTC) Prices Yale University Publish Research that Might Help Predicting Bitcoin (BTC) Prices
- August 13, 2018

According to the paper , cryptocurrencies have no exposure to most stock markets and macroeconomic factors, that's why they have no exposure to returns of currencies or commodities, a completely different set of factors affect their price movements and thus returns. (more...)
Suspected Seattle plane thief had 'full airport credentials' Suspected Seattle plane thief had 'full airport credentials'
- August 13, 2018

The man , who could be heard on audio recordings telling air traffic controllers that he was "just a broken guy" , has been named as Richard Russell . Later, he said he's "got a lot of people that care about me". "I would like to apologize to each and every one one of them. Never really knew it until now", he told the traffic controllers, who tried to help him control the plane. (more...)
Iraq PM to visit Iran, Turkey as US sanctions bite Iraq PM to visit Iran, Turkey as US sanctions bite
- August 13, 2018

Trump's decision in May to withdraw from the 2015 nuclear deal, signed by his predecessor Barack Obama, in which Tehran agreed to nuclear curbs in return for sanctions relief, paved the way for the restoration of unilateral American economic penalties on Iran . (more...)
Tesla, Elon Musk sued and official enquiries made over Twitter claims
- August 13, 2018

These pieces of news pushed Tesla's share price around 12 per cent higher, although most of those gains have since disappeared as reports emerged from The Wall Street Journal and Bloomberg stating the US Securities and Exchange Commission (SEC) had sent a formal enquiry to Tesla about its funding claims. (more...)
Erdogan: Lira crash political plot against Ankara
- August 13, 2018

Relations between Turkey and the USA have been tense over a range of issues, from the Syrian conflict to the imprisonment of American pastor Andrew Brunson. "From Monday morning onwards our institutions will take the necessary steps and will share the announcements with the market", Albayrak said. In a Friday opinion piece for the New York Times , though, he used a milder tone to restore ties before it is too late, reminding of long-standing relations the USA established with Turkey over ... (more...)
McDonald's mobile customers get chance to win food for life McDonald's mobile customers get chance to win food for life
- August 13, 2018

The McGold Card entitles the bearer to two free meals a week for the next 50 years, or, you know, until you fall into a french-fry-induced coma, whichever comes first. In addition to the free food and bragging rights, the victor also gets a custom gold-plated phone case . I mean, free food is good food, but a "lifetime" of Big Macs might not be the most appealing prize in some people's eyes. (more...)
Spike in part-time jobs offsets full-time losses, bringing down unemployment rate Spike in part-time jobs offsets full-time losses, bringing down unemployment rate
- August 13, 2018

Stats Canada says the decrease in employment for Alberta is due to the lack of full-time work, however, part-time work saw an increase creating little change in the rate for July. Average hourly wage growth, which is closely monitored by the Bank of Canada, continued its gradual slide last month to 3.2 percent after expanding 3.6 percent in June and 3.9 percent in May. (more...)
Crazy Volume Spikes for: The Trade Desk inc (NASDAQ:TTD) Crazy Volume Spikes for: The Trade Desk inc (NASDAQ:TTD)
- August 12, 2018

The Trade Desk inc (NASDAQ: TTD ) has the Market Capitalization of 3.93 Billion. Deutsche Bank AG now owns 52,130 shares of the technology company's stock valued at $2,382,000 after purchasing an additional 15,783 shares during the period. (more...)
Dropbox share price falls after COO steps down Dropbox share price falls after COO steps down
- August 12, 2018

Shares of Royal VICI were transacted with a volume of 2220574 in the Wednesday trading period as compared to its average volume of 3120K shares over the last three months period. The Company holds dividend yield of 5.18%. The Company expected to achieve EPS growth for this year with 705.30% and estimated to reach at 10.80% EPS growth for next year. (more...)
Ex-Nike employees sue company, alleging unequal compensation Ex-Nike employees sue company, alleging unequal compensation
- August 12, 2018

The federal suit, filed in Nike's home state of OR, seeks class-action status and alleges that Nike violated the Equal Pay Act. Nike, based near Portland, responded to the controversy by ousting at least 11 executives earlier this year. CEO Mark Parker reportedly apologized to the company's employees over how it handled allegations of workplace misconduct. This article has been updated to include a statement from Nike . (more...)
'Suicidal Male' Steals Plane And Crashes After 'Unauthorized Takeoff' From Sea-Tac 'Suicidal Male' Steals Plane And Crashes After 'Unauthorized Takeoff' From Sea-Tac
- August 12, 2018

It added Russell was a "faithful husband, a loving son and a good friend". "He was right in saying that there are so many people who have loved him". " Just a broken guy , got a few screws loose, I guess". The recordings were of radio communication between Russell and air traffic controllers. There is now a background check being done on him to see if a possible motive can be found. (more...)
IKEA plans to revise investment in India IKEA plans to revise investment in India
- August 12, 2018

Brodin said that with Ikea's second attempt at Indian stores the retailer, which has 355 stores across 29 countries, has given Ikea's business model a local twist, to try to attract a large middle class not used to a company expecting its customers to assemble the products themselves. (more...)
Wall Street ends lower as Turkey woes hit banks Wall Street ends lower as Turkey woes hit banks
- August 12, 2018

While the geopolitical issues in Turkey were ravaging the U.S. capital markets the Turkish lira continued to devalue as U.S. President Donald Trump ratcheted up tariffs on aluminum and steel amid growing dissention between the two countries. (more...)
Sterling slides below US$1.29 as Brexit sell-off worsens Sterling slides below US$1.29 as Brexit sell-off worsens
- August 12, 2018

The GBP/USD is trading at the lowest level since August 31 a year ago as the United Kingdom cabinet said it will meet in September to prepare plans for a no-deal Brexit scenario. The Euro (EUR) has remained relatively stable recently, leaving its exchange rates at the mercy of developments overseas, and the European Central Bank's (ECB ) latest economic bulletin this morning served to highlight the Eurozone's economic trajectory. (more...)
Authorities probe how airline employee could steal plane Authorities probe how airline employee could steal plane
- August 12, 2018

In Russell's final moments captured by partial recordings of his conversations with air traffic controllers that were published online by Broadcastify.com, Russell spoke calmly and said he was sorry to disappoint people who cared about him and described himself as a "broken guy". (more...)
Trump praises Mexico, threatens Canada with auto tariffs Trump praises Mexico, threatens Canada with auto tariffs
- August 12, 2018

The one-on-one talks are expected to extend into next week. It is Canada that has proven the stumbling block in renegotiating NAFTA. Some observers have raised concerns about Canada's absence from recent high-level negotiations on the three-country trade deal. (more...)
Japan economy returns to black after first dip in two years Japan economy returns to black after first dip in two years
- August 12, 2018

The economy's contraction in the first quarter snapped its longest streak of growth since the boom days of the late 1980s. " The Japanese economy staged an ideal rebound, partly backed by robust corporate activities ", Hideo Kumano, chief economist at Dai-ichi Life Research Institute, told AFP. (more...)
World Bank Taps Australia's CommBank to Issue Its First Blockchain Bond World Bank Taps Australia's CommBank to Issue Its First Blockchain Bond
- August 12, 2018

The World Bank and the CBA said indicative interest in the blockchain-operated new debt instrument, nicknamed "bond-i" after the beach, had been strong. Firms including Northern Trust, QBE Insurance and the Treasury Corporation of Victoria supported the bond's development, while CBA Innovation Lab's Blockchain Centre of Excellence designed and developed the blockchain platform. (more...)
'Suicidal' man steals and crashes empty plane from Seattle airport 'Suicidal' man steals and crashes empty plane from Seattle airport
- August 12, 2018

There was no connection to terrorism and no others were involved, said Troyer. "We believe that it was taken by a single Horizon Air employee, and that no other passengers or crew were on board". We have police boats, we have everybody responding. Witnesses reported seeing the plane being chased by military aircraft before it crashed on Ketron Island, southwest of Tacoma, Washington. (more...)
Man steals aircraft from Seattle airport, fighter jet scrambled
- August 12, 2018

A passenger plane crashed on an island in Puget Sound on Friday night, not long after a suspect conducted an "unauthorized take-off" from Seattle-Tacoma International Airport in Washington state, officials said. Video showed flames amidst trees on the island, which is sparsely populated and only accessible by ferry. Fortunately, the employee was the only person on board and his weird stunt did not injure anyone else, according to Alaska Airlines. (more...)
News Corp chief backs Foxtel despite subscription revenue fall News Corp chief backs Foxtel despite subscription revenue fall
- August 12, 2018

The company's news business, which houses the Wall Street Journal and the New York Post, made $1.29 billion in revenue, rising 1 percent from a year earlier and accounting for nearly half of overall revenue as the number of digital subscribers grew. (more...)
Everything You Need To Know About ICBC’s New Premiums Everything You Need To Know About ICBC’s New Premiums
- August 12, 2018

Joy MacPhail, ICBC's board chair, told the news conference the message from a recent public engagement process was low-risk drivers should not be paying the same rate as some high-risk drivers. The proposed model means drivers with more years of experience and no at-fault crashes would see greater discounts. During the announcement, he said 39 per cent of B.C. (more...)
Crocs Is Closing Down All Of Its Factories Crocs Is Closing Down All Of Its Factories
- August 12, 2018

After having been at the vanguard of fashion for over a decade, Crocs has announced it will close its remaining production factories in Mexico and Italy . Share prices more-than tripled between May last year and June this year, and while values have tapered off since, the company seems intent on chasing further growth. (more...)
Tesla's board seeking more information on Musk's financing plan Tesla's board seeking more information on Musk's financing plan
- August 12, 2018

Fidelity has disclosed in regulatory filings that some of its mutual funds, including the Fidelity Growth Company Fund, acquired SpaceX shares through private placements beginning in January 2015. After two days of turmoil, they stood at $352.45. "I, like a great many others, am confused by what is motivating" the go-private plan and "why it was communicated in the way it was". (more...)
Tesla CEO Musk accused of defrauding shareholders, sued by investors Tesla CEO Musk accused of defrauding shareholders, sued by investors
- August 11, 2018

The two separate cases have been filed in a court in the Northern District of California, which is not far from where Tesla is located, Palo Alto. This source said that the Saudi fund would not make an investment of this kind without seeking guidance first from Softbank. (more...)

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