Business


Air Canada, WestJet raising checked luggage fees Air Canada, WestJet raising checked luggage fees
- August 28, 2018

Up until 2014, many airlines followed a baggage policy that allowed travelers to check their first bag for free. The airline will now charge $30 for the first checked bag, the first of the major USA airlines to charge customers that price, according to the company's website . (more...)
Victorian Premier Daniel Andrews announces plans for mega suburban rail tunnel
- August 28, 2018

In a social media video posted on Tuesday, the government announced the $50bn proposal - which it called the biggest public transport project in Australian history - would include 12 stations, including at Tullamarine airport, and potentially, at Monash and Doncaster in Melbourne's east, where rail links have always been mooted. (more...)
Trump administration to disburse first $6 billion in farm bailout Trump administration to disburse first $6 billion in farm bailout
- August 28, 2018

Signups will start Sept. 4, Agriculture Secretary Sonny Perdue said, just as harvest season begins and before November 6 congressional elections in which rural districts may play a key role in determining which party controls Congress. Farmers will be able to sign up for the relief from early September through January. Instead, Naylor reported, "Officials say they will be using a Depression-era program, the Commodity Credit Corporation, to secure money from the U.S. (more...)
Trump terminating NAFTA, negotiating with Canada Trump terminating NAFTA, negotiating with Canada
- August 28, 2018

But none of that is happening. Trump and Republicans in the US Congress up for re-election in November want to ensure farmers and other voters whose jobs depend on trade with Canada and Mexico that the deal is sealed. But Mexico's foreign minister on Monday suggested a bilateral deal without Canada could be acceptable. The White House appearance included a phone call with Mexican President Enrique Pena Nieto, who stressed the importance of an agreement that includes Canada. (more...)
Uber plans to ditch cabs for e-bikes and scooters Uber plans to ditch cabs for e-bikes and scooters
- August 28, 2018

A recent study showed that Britain was the worst country in western Europe for gridlock, with London the busiest city. Mr Khosrowshahi admitted that Uber makes less money from a bike ride than from the same trip in a vehicle, but said this would be offset as customers used the app more frequently for shorter journeys. (more...)
Crunch time for 70 companies as RBI’s NPA deadline ends Crunch time for 70 companies as RBI’s NPA deadline ends
- August 28, 2018

If they failed to do so in 180 days, this would automatically trigger insolvency proceedings - this deadline ends on August 27, 2018. The Standing Committee on Energy, in its report on the "Impact of RBI's Revised Framework for Resolution of Stressed Assets on NPAs in the Electricity Sector", noted that while the government has accepted the fact that the reasons responsible for stress in the power sector "are at variance with the reasons responsible for stress in other sectors of the ... (more...)
Tez, Google's mobile payment platform in India, gets rebranded to Google Pay
- August 28, 2018

Google Pay works with all major banks in India on BHIM UPI (Unified Payments Interface). But in the time since its arrival last September, it has grown and is now used by over 22 million users and businesses monthly who have made over 750 million transactions. (more...)
President Trump Announces Renaming, Overhaul to NAFTA in 'Fairer' Deal with Mexico President Trump Announces Renaming, Overhaul to NAFTA in 'Fairer' Deal with Mexico
- August 28, 2018

Under the new agreement, to avoid tariffs, vehicle companies will have to make 75 percent of their parts in the USA or Mexico instead of overseas. " Canada has been frozen out of those bilateral (U.S. 2 trade partner, to rejoin the talks, Burrell reported . He has repeatedly demanded renegotiation of the 1994 agreement, which he blames for a decline in USA manufacturing jobs, especially in the auto industry. (more...)
U.S., Mexico reach trade 'understanding' to overhaul NAFTA
- August 28, 2018

It's also a win for Mexico. First, though Trump declared NAFTA dead, only Congress can actually undo the legislation that created the three-way trade bloc in 1994. On Monday, they have been proved wrong by an unmitigated victory for the USA. "They used to call it NAFTA". These countries also can not afford to lose access to our $20 trillion economy-the world's largest. (more...)
4 takeaways from the U.S.-Mexico trade deal 4 takeaways from the U.S.-Mexico trade deal
- August 28, 2018

A spokesman for Chrystia Freeland, Canada's foreign minister, said Canada was "encouraged" by the "optimism" shown by the USA and Mexico, but cautioned that a full NAFTA deal was not a foregone conclusion. According to the US-based Economic Policy Institute, about 700,000 jobs have been lost nationwide due to growing trade deficits with Mexico caused by NAFTA. (more...)
Toyota to invest $500 million in Uber for self-driving cars Toyota to invest $500 million in Uber for self-driving cars
- August 28, 2018

The initial fleet, using Uber's self-driving vehicle system and Toyota's Guardian safety technology, will be based on Toyota's Sienna minivan platform. Toyota has been less aggressive than some rivals on moving toward full-fledged autonomous driving. In July, Uber took a step toward relaunching autonomous vehicle testing in Pittsburgh streets. (more...)
Tesla shares drop after Musk abandons buyout plan Tesla shares drop after Musk abandons buyout plan
- August 28, 2018

Well, if you recall, the company's CEO Elon Musk has been stirring the Tesla pot lately. He revealed the U-turn to board members during a meeting on the company's California factory floor, then made it public in a late-night blog post . Well, turns out that deal was not exactly done, the funding far from secured. Musk originally tweeted that he was considering taking Tesla private at $420 per share earlier this month. (more...)
Top student loan official resigns, slams Team Trump on way out Top student loan official resigns, slams Team Trump on way out
- August 28, 2018

Frotman, the latest high-level departure from the CFPB , said borrowers are trapped in a broken student loan system but the administration is protecting lenders and big business. Mr Mulvaney, a Republican from SC, had been a fierce critic of the CFPB before he was appointed as its director. And this month, US Education Secretary Betsy DeVos announced her department would end an Obama-era rule that mandated for-profit colleges show their students could obtain jobs that paid decent ... (more...)
Turkey’s Erdogan to visit Iran on September 7 Turkey’s Erdogan to visit Iran on September 7
- August 28, 2018

President Donald Trump doubled existing tariff rates on Turkish aluminum to 20% and on Turkish steel to 50% earlier this month after the two countries failed to make progress on a conflict over the imprisonment of Andrew Brunson , an evangelical pastor who has been detained in Turkey for almost two years. (more...)
Trump announces 'incredible' trade deal with Mexico
- August 27, 2018

It's a very simple negotiation. Any agreement between Mexico and the United States must also involve Canada , the other NAFTA signatory, although Trump suggested a deal with Canada could be separate from the U.S. 2 Senate Republican, John Cornyn of Texas, hailed the "positive step" but said Canada needs to be party to a final deal. Pena Nieto said on Twitter that he had urged Canada to return to the talks with the aim of concluding a three-nation accord "this week". (more...)
US, Mexico Reach New Trade Agreement US, Mexico Reach New Trade Agreement
- August 27, 2018

Advisers of incoming President Lopez Obrador hailed the new deal, saying it represented progress on energy and wages for Mexico's workers. President Donald Trump had pulled the United States out of the NAFTA pact claiming it was unfair to Americans. (more...)
Mexico Reach NAFTA Deal, Talks With Canada To Begin Immediately
- August 27, 2018

Canada's trading relationship with the United States is more than $50 billion larger than the United States' trade relationship with Mexico . Therefore, this is not a bilateral deal. official said. It was understood that once the US and Mexico reached an agreement, the third country in NAFTA - Canada - would be brought back in to finalize a revamp of the 24-year-old pact. (more...)
Trump Organization CFO Allen Weisselberg reportedly granted immunity Trump Organization CFO Allen Weisselberg reportedly granted immunity
- August 27, 2018

But he continued to play down Trump's failure to report the hush money, arguing that the person at fault for the campaign finance violation would be the campaign's treasurer, not the candidate. In the past week, when asked directly by CNN's Anderson Cooper whether there was information that Trump knew about his son's meeting with Russian lawyer Natalia Veselnitskaya beforehand, Davis said, "No, there's not". (more...)
Warren Buffett's Next Investment Will Be a First for Berkshire Hathaway Warren Buffett's Next Investment Will Be a First for Berkshire Hathaway
- August 27, 2018

Berkshire, however, clarified that it was not a transaction in which Warren Buffett was involved. " Berkshire Hathaway is impressed by the scale that Paytm has been able to build in a short period of time". In the same month, it was also reported that PayTM is close to announce its new mobile digital payments service for Japan in collaboration with Softbank. (more...)
Didi suspends carpool service in China after rape and killing of passenger Didi suspends carpool service in China after rape and killing of passenger
- August 27, 2018

The National Development and Reform Commission (NDRC) said in a statement on Monday that various government departments will push to improve overall governance of operators and will expand the use of the country's fledgling social credit system across the transport sector. (more...)
Trump Organization CFO granted immunity in Cohen investigation
- August 27, 2018

Trump has routinely denounced the probe as a "witch hunt". President Donald Trump's former attorney Michael Cohen turned 52 Saturday, just four days after pleading guilty to eight counts of tax fraud, bank fraud, and campaign finance violations. (more...)
Saudi reforms to boost growth despite any Aramco IPO delay Saudi reforms to boost growth despite any Aramco IPO delay
- August 27, 2018

This is the first commercial loan for the Public Investment Fund (PIF), which has been charged with helping to deliver the Vision 2030 reform plan announced by the government in 2016, an ambitious economic programme created to free the kingdom from dependence on oil exports. (more...)
Alipay Moves Away From Cryptocurrency As China's Clampdown Increases Alipay Moves Away From Cryptocurrency As China's Clampdown Increases
- August 27, 2018

Alipay consistently sees trading accounts issuing transactions involving cryptocurrency, and numerous accounts disguise their real intent in codewords and double-speak. The affected exchanges are still providing crypto trading services to Chinese investors. " Alipay adheres to the principle of not providing services for virtual currency transactions". (more...)
CBA, World Bank complete $110 million blockchain bond capital raise CBA, World Bank complete $110 million blockchain bond capital raise
- August 27, 2018

While there have been other prototypes or parallel simulation blockchain projects in the market before, CBA said the World Bank bond will be the first time that capital is raised from public investors through a legally valid bond issuance that uses blockchain from start to finish. (more...)
Trump says Mexico trade deal near; NAFTA hurdles seen easing Trump says Mexico trade deal near; NAFTA hurdles seen easing
- August 26, 2018

But after a year of intense negotiations aimed at salvaging the 25-year-old pact that Trump has previously referred to as a " disaster ", the U.S. and Mexico now appear to be close to a point where Canada can rejoin the talks. But US Trade Representative Robert Lighthizer never accepted that plan, insisting on a full sunset provision. Guajardo and Foreign Minister Luis Videgaray also attended Saturday's meeting with Lighthizer, which Guajardo called "an important day" for the long-running ... (more...)
Fed chair Jerome Powell’s highly anticipated speech: what to expect Fed chair Jerome Powell’s highly anticipated speech: what to expect
- August 26, 2018

Two days of talks between Washington and Beijing ended on Thursday with no major breakthrough as their trade war escalated with activation of another round of dueling tariffs on $16 billion worth of each country's goods. "If the strong growth in income and jobs continues, further gradual increases in the target range for the federal funds rate will likely be appropriate", he said. (more...)
New York AG plans criminal investigation into Michael Cohen's taxes
- August 26, 2018

Prosecutors said that Mr Cohen had been reimbursed for his role in the payments through a $35,000 monthly retainer arranged by executives at the Trump Organisation. The attorney general's pursuit of Cohen on tax matters comes after the office secured a guilty plea on tax fraud charges earlier this year from a former business associate of Cohen's in the taxi medallion business, Evgeny Freidman. (more...)
Warehouse workers in Amazon program tweet positive comments about working conditions Warehouse workers in Amazon program tweet positive comments about working conditions
- August 26, 2018

TechCrunch has found around 16 FC Ambassador profiles - although it's hard to count them accurately now because, obviously, some parodies have already appeared and it's hard to tell the difference between the parody and the reality of what goes on in the Amazon packing chain - with some terribly forced and cringeworthy messages from the ambassadors out there, such as Carol's assurance that: "I love 'couch shopping!' It's nearly as much fun as being here at work in the FC". (more...)
Small suitcases no longer free on Ryanair due to baggage rule change Small suitcases no longer free on Ryanair due to baggage rule change
- August 26, 2018

There will be no luggage carried in the hold free of charge from November, with passengers having to pay £8 to check in a 10kg bag. Priority boarding will be capped at 95 passengers per flight (out of 189) and the size of the small bag allowed in cabin is to be increased from 30x20x20cm now to 40x20x25cm. (more...)
Bitcoin ETF Proposals Rejected | SEC Still Has No Faith in Crypto Bitcoin ETF Proposals Rejected | SEC Still Has No Faith in Crypto
- August 26, 2018

But, the SEC further emphasized that the disapproval of the Winklevoss Bitcoin ETF does not signify the commission's stance on cryptocurrency or blockchain but simply the lack of a trusted price formation that may leave the ETF and the global Bitcoin market open to price manipulation. (more...)

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