Business


House of Fraser cancels all online orders House of Fraser cancels all online orders
- August 19, 2018

EY has estimated that House of Fraser's unsecured creditors, aside from its employees, which will be transferred to Sports Direct , are owed around £484 million. In an effort to force the issue, some suppliers, believed to include fashion brand Karen Millen, Jigsaw and Whistles have now withdrawn unsold stock which was not party to the takeover agreement signed by Ashley. (more...)
Tesla shares slide as Elon Musk admits to Tesla shares slide as Elon Musk admits to "difficult and painful year"
- August 19, 2018

The Times described Musk as "struggling to maintain his composure" when he stated: "This past year has been the most hard and painful year of my career". Meanwhile, Tesla has come under even more scrutiny after an employee fired from Tesla's Nevada battery factory filed a whistleblower complaint with the US Securities and Exchange Commission, accusing the company of spying on employees and failing to act after learning that a Mexican cartel may be dealing drugs inside the plant, his ... (more...)
Pai Grilled Over DDoS Attack Claim Pai Grilled Over DDoS Attack Claim
- August 19, 2018

The agency had previously blamed multiple DDoS attacks for temporarily taking down a comment section of its website following a segment of Last Week Tonight , in which comedian John Oliver asked viewers to submit comments to the FCC and speak out in support of net neutrality . (more...)
Tesla and Elon Musk under fire as SEC issues subpoenas Tesla and Elon Musk under fire as SEC issues subpoenas
- August 18, 2018

It isn't known what information is being sought. TechCrunch has reached out to Tesla for comment on the tweeted images. The PIF has many claims on its resources and $250bn in assets, over 50% of which are tied up in large Saudi companies whose stocks could be hard to sell en masse, according to Reuters , in addition to substantial commitments to other technology companies or investments, including $45bn in Japan's Vision Fund, Softbank, $3.5bn in Uber , the $1bn into Virgin Group's ... (more...)
Turkish high court rejects appeal for United States pastor Brunson's release Turkish high court rejects appeal for United States pastor Brunson's release
- August 18, 2018

Analysts say Turkey is likely to seek a more dynamic economic relationship with China and Russian Federation, with whom ties have warmed considerably in recent years. US President Donald Trump attacked Turkey on Friday, saying the North Atlantic Treaty Organisation ally is not a friend and had made up espionage charges against an American pastor detained in the country. (more...)
U.S. prepared to add sanctions on Turkey if pastor not released U.S. prepared to add sanctions on Turkey if pastor not released
- August 17, 2018

Ankara has accused Brunson of being linked to the Gulen movement, which it says was responsible for the failed coup attempt in 2016. "We have put sanctions on several of their cabinet members", Mnuchin told President Donald Trump in a cabinet meeting attended by the press. (more...)
Rail unions are to blame for fare hikes, Chris Grayling suggests Rail unions are to blame for fare hikes, Chris Grayling suggests
- August 17, 2018

Around 40% of fares will rise by this amount in January - it will not affect advance-purchase fares which are not controlled by the government . The increase is linked to the Retail Prices Index (RPI) measure of inflation for July which was revealed by the Office for National Statistics (ONS) today. (more...)
Turkish lira volatile as United States warns of further sanctions
- August 17, 2018

President Donald Trump doubled tariffs on Turkish metals exports to the United States last week prompting Turkey, which says it will not bow to threats, to raise tariffs on USA cars, alcohol and tobacco by the same amount on Wednesday. . The Turkish lira continued to rebound from record losses on Thursday a day after Qatar pledged $15 billion in investments to help Turkey's economy. (more...)
Google employees sign protest letter over China search engine Google employees sign protest letter over China search engine
- August 17, 2018

Mr Pichai told staff Google's mission was to "organise the world's information". However, eventually Google pulled out of China completely in 2010 after several large-scale attacks on the company purportedly by the Chinese government. (more...)
Musk's SpaceX could help fund take-private deal for Tesla Musk's SpaceX could help fund take-private deal for Tesla
- August 17, 2018

In a statement the firm's board paid tribute to Musk's "commitment and dedication to Tesla " and praised him for "having hundreds of thousands of cars on the road that customers love" and "employing tens of thousands of people around the world". (more...)
Turkish lira weakens as U.S. warns of new sanctions over detained pastor Turkish lira weakens as U.S. warns of new sanctions over detained pastor
- August 17, 2018

Qatar , backed by Erdogan during the Saudi-led embargoes on the emirate in 2017, on Wednesday pledged to channel $15 billion direct investment into Turkey, a sign of burgeoning ties between the two countries. And the day earlier, two Greek soldiers held by Turkey since March for illegally crossing the border were also freed. "Rates have gone up by 10 per cent". (more...)
Ontario's private sector retail cannabis plan draws pot industry approval Ontario's private sector retail cannabis plan draws pot industry approval
- August 17, 2018

Shares of Horizons Marijuana Life Sciences ETF ( HMMJ.TO ), which tracks an array of cannabis companies, fell as much as 3.7 per cent in Thursday's session. Canadian pot stocks retreated Tuesday after the country's largest province said it will delay the launch of bricks-and-mortar cannabis stores until six months after legalization. (more...)
China’s Nio Aims To Raise $1.8 Billion In IPO China’s Nio Aims To Raise $1.8 Billion In IPO
- August 17, 2018

Nio's move to sell shares in the United States comes at a time when Tesla CEO Elon Musk has a plan to set up a huge factory in Shanghai, China to corner a market where the government is promoting new-energy vehicles with incentives for buyers. (more...)
Qatar pledges $15 billion of investment in Turkey Qatar pledges $15 billion of investment in Turkey
- August 17, 2018

In return, Erdogan signed a decree to raise tariffs on US imports including cars, alcohol and tobacco. "We got somebody out for him", Trump said. The lira hit a record low against the dollar on Tuesday. Turkish authorities have called on their citizens to sell their foreign currency in order to bolster the lira. The local court in Izmir rejected Brunson's appeal to be released while his trial is pending. (more...)
China says United States solar tariffs violate trade rules, lodges WTO complaint China says United States solar tariffs violate trade rules, lodges WTO complaint
- August 17, 2018

A U.S. decision to subsidise its renewable energy companies and impose tariffs on imported products has seriously distorted the global market and harmed China's interests, China's Ministry of Commerce said late on Tuesday. The United States has accused China of using subsidies and bulk manufacturing capacity to drive down prices and put U.S. competitors out of business. (more...)
Turkey’s lira steadies amid Erdogan’s move to boycott U.S. electronic products Turkey’s lira steadies amid Erdogan’s move to boycott U.S. electronic products
- August 16, 2018

On Tuesday, Erdogan called for a boycott of USA electronics products, and his spokesperson described American policy as goading Turkey into an "economic war". The lira has lost almost 40 per cent against the dollar this year, driven by worries over Erdogan's growing control over the economy and his repeated calls for lower interest rates despite high inflation. (more...)
Italy declares year-long state of emergency after bridge disaster Italy declares year-long state of emergency after bridge disaster
- August 16, 2018

There has been anger and disbelief in Italy that such a vital structure could have simply given way. Earlier today, the transport ministry called for the resignation of the top management of Anas. The prime minister has said all infrastructure across the country will be double-checked in the wake of the collapse. There will be a national day of mourning on Saturday to coincide with the funerals of victims. (more...)
Qatar pledges $15 billion to invest in Turkey Qatar pledges $15 billion to invest in Turkey
- August 16, 2018

The Turkish lira rebounded some six per cent on Wednesday after the central bank squeezed lira liquidity in the market, effectively pushing up rates and supporting the currency. Turkish Finance Minister Berat Albayrak, who is Erdogan's son-in-law, and his Qatari counterpart Ali Sharif Al-Emadi were present at the talks in the capital Ankara . (more...)
Govt rubbishes report that Indian currency is 'Made in China' Govt rubbishes report that Indian currency is 'Made in China'
- August 16, 2018

Congress leader Shashi Tharoor asked Union ministers, Arun Jaitley and Piyush Goyal , to clarify. According to a report in the South China Morning Post, the country was not printing foreign currency until 2013. RBI is yet to make a public statement on the report. Chinese Yuan bills accounted for only a small portion of these orders, an official told the news daily, adding that most of the orders were from countries that have partnered China in its " Belt and Road Initiative ". (more...)
Unemployment in Scotland drops as European Union workers leave UK Unemployment in Scotland drops as European Union workers leave UK
- August 16, 2018

This is the lowest rate of unemployment since February 1975. The average weekly earnings for employees in Great Britain in real terms (adjusted for price inflation) increased by 0.4% excluding bonuses, and by 0.1% including bonuses, compared with a year earlier. (more...)
Turkey hopes to find solution on Syria’s Idlib with Russia Turkey hopes to find solution on Syria’s Idlib with Russia
- August 16, 2018

Kremlin officials say this idea needs work before being implemented . The Idlib region, a refuge for civilians and rebels displaced from other areas of Syria as well as powerful jihadist forces, was hit by a wave of air strikes and shelling last week, in a possible prelude to a full-scale government offensive. (more...)
Turkish Court Rejects Appeal to Free Detained U.S. Pastor Turkish Court Rejects Appeal to Free Detained U.S. Pastor
- August 16, 2018

Turkey's President Recep Tayyip Erdogan , gestures as he delivers a speech to Turkish ambassadors at the Presidential Palace in Turkey , Monday, Aug. " Turkey would do well not to test Trump's resolve to see Americans who are wrongfully imprisoned in foreign lands returned home to the United States", Vice President Mike Pence said in a tweet . (more...)
Erdogan spokesman says problems with USA will be resolved
- August 16, 2018

The dispute is one of several between the North Atlantic Treaty Organisation allies, including diverging interests in Syria and USA objections to Ankara's ambition to buy Russian defence systems, that have contributed to instability in Turkish financial markets. (more...)
China-US to resume trade talks after tit-for-tat tariff battle China-US to resume trade talks after tit-for-tat tariff battle
- August 16, 2018

The latest headlines crossing the wires concerning China-US trade spat, cites that China's Vice Commerce Minister is said to visit the US for trade talks. Larry Hu, head of greater China economics at the Macquarie Group, said the two sides may discuss what Beijing needs to do, such as increasing United States imports, further opening its markets and making efforts to protect U.S. (more...)
Bitcoin price keeps falling and just dipped below $6,000 Bitcoin price keeps falling and just dipped below $6,000
- August 16, 2018

The Bitcoin returned in the area of its lows where it received support in February, March-April and June. However, it remains a trigger away from taking an upward momentum or a further slide below, especially given bitcoin has finally captured over 50% dominance of the market. (more...)
Turkey’s lira steadies amid Erdogan’s move to boycott USA electronic products Turkey’s lira steadies amid Erdogan’s move to boycott USA electronic products
- August 16, 2018

U.S. President Donald Trump has slapped hefty tariffs on a swathe of Chinese goods, prompting retaliation from Beijing. His comments have so far failed to quell a crisis that economists say is largely self-inflicted, owing to an overheated economy and the debt exposure of Turkey's companies and banks. (more...)
The alarming photo before bridge collapse that killed 39 The alarming photo before bridge collapse that killed 39
- August 16, 2018

A truck is blocked at the end of the collapsed Morandi highway bridge in Genoa, northern Italy , Wednesday, Aug. 15, 2018. An overtaking auto had forced FL to slow down but when he saw that same vehicle drop off the edge of the freeway, he immediately managed to slam on his brakes. (more...)
Turkey doubles tariffs on some US imports; Turkish lira rallies Turkey doubles tariffs on some US imports; Turkish lira rallies
- August 16, 2018

German Chancellor Angela Merkel and Qatari Emir Sheikh Tamim bin Hamad Al Thani have expressed support for Turkish President Recep Tayyip Erdogan amid escalated tensions between Ankara and Washington. "Pastor Andrew Brunson is an innocent man held in Turkey & justice demands that he be released". Turkey is ready to discuss its issues with the United States as long as there are no threats, Turkey's Foreign Minister Mevlut Cavusoglu said. (more...)
Corona owner pumps $4 billion more into weed producer Canopy Corona owner pumps $4 billion more into weed producer Canopy
- August 16, 2018

Canopy said it will use the proceeds to expand and gain exposure to the almost 30 countries likely to approve medical marijuana . "Constellation's concentration of global cannabis activities exclusively through Canopy, coupled with the investment and its expert capabilities... (more...)
Omarosa Says Trump Is 'Obsessed' With Ivanka - Calls Relationship 'Sickening'
- August 15, 2018

Despite his love for his daughter, Trump "wasn't always such a fan of Jared [Kushner]", Manigault Newman wrote. "You want to put that face on the twenty-dollar bill?" Several advisers warned the president that by responding he would only give her more free publicity and boost sales of her book , the website reported. (more...)

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