Business


British diver sues Elon Musk for $75,000 over 'pedo' claim British diver sues Elon Musk for $75,000 over 'pedo' claim
- September 18, 2018

The suit cites Musk's July 13 tweet that referred to Unsworth as "pedo guy", written as an apparent retort to the diver's comments disparaging the mini-submarine built by Musk and his engineers to aid in rescue efforts; it was not used. The British rescue diver accused of being a "pedo guy" by Elon Musk has sued the combative CEO for libel and slander. Unsworth said he is not a pedophile, child rapist , child sex trafficker, husband of a 12-year-old bride, or liar, and that the defamatory ... (more...)
Petrol Price Breaches 90 Rupees/ Litre In 11 Maharashtra Cities Petrol Price Breaches 90 Rupees/ Litre In 11 Maharashtra Cities
- September 18, 2018

When contacted an Indian Oil spokesman said prices in some cities are higher than those in Mumbai due to higher transportation cost to those areas. Similarly, diesel prices rose on Monday in Delhi and Kolkata to Rs 73.78 and Rs 75.63 per litre, respectively, and climbed to Rs 78 and Rs 78.33 per litre in Chennai and Mumbai, respectively. (more...)
Oil prices ease as trade row clouds demand outlook
- September 18, 2018

The tariffs Mr Trump has imposed are thought to limit economic activity in China and the United States as less fuel is consumed to move goods for trade. Refiners in India, Iran's second largest crude buyer will cut their monthly crude loadings from Iran for September and October by almost half from earlier this year. (more...)
Trump throws $200 bln tariff bomb at China
- September 18, 2018

On Tuesday, Beijing threatened to "undertake synchronous retaliation" against the US for its decision. But markets remained mainly unmoved on Tuesday. Only last week, Beijing said it welcomed overtures from United States officials offering to restart trade talks, but the new tariffs could cause China to call off the negotiations. (more...)
World's first hydrogen fuel cell passenger train begins service in Germany World's first hydrogen fuel cell passenger train begins service in Germany
- September 18, 2018

It is equipped with fuel cells which convert hydrogen and oxygen into electricity, thus eliminating pollutant emissions related to propulsion. Two such trains will enter commercial service according to a fixed timetable in Lower Saxony. "It is an innovation that results from French-German teamwork and exemplifies successful cross-border cooperation". The European Commission has described hydrogen as an energy carrier with "great potential for clean, efficient power in stationary, portable ... (more...)
Audi to launch first electric SUV e-tron in India by 2019 Audi to launch first electric SUV e-tron in India by 2019
- September 18, 2018

Audi India , the local arm of German Euro 60 billion luxury auto maker Audi , is planning to launch its first electric Sports Utility Vehicle ( SUV ) e-tron in India by 2019, a top executive confirmed in an exclusive interaction with ETAuto. (more...)
Trump imposes tariffs on $200B more of Chinese goods Trump imposes tariffs on $200B more of Chinese goods
- September 18, 2018

The ten percent tariff will take effect on September 24, and rise to 25 percent on January 1, 2019. Sheng Liugang, an economics professor at the Chinese University of Hong Kong, estimated that the 10 per cent tariffs on US$200 billion of Chinese goods would lose China US$22 billion in exports - a number that is not significant for now. (more...)
Trump raises stakes with new round of China tariffs
- September 18, 2018

The tariffs will rise to 25 percent on January 1 of next year. Its the latest move by the administration to punish china for not complying with fair trade practices. "Considering his latest comments as well as recent falls in his support, it is hard to expect Trump to soften his stance on trade in the near future", said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities. (more...)
Diver Behind Thai Soccer Team Rescue Sues Elon Musk Over Pedophile Remark
- September 18, 2018

Vernon Unsworth sued over Musk's reference to him in a July 15 tweet as a "pedo guy," a comment for which Musk later apologized . Before the soccer team's rescue, Musk built a mini-submarine crafted out of a SpaceX Falcon 9 rocket part that he said could be used to ferry everyone out of the cave. (more...)
Trump's $200 billion China threat wobbles European, hurts Asian stocks Trump's $200 billion China threat wobbles European, hurts Asian stocks
- September 18, 2018

White House economic adviser Larry Kudlow announced during an interview on Monday that President Donald Trump would likely be imposing new tariffs on a "couple hundred billion" worth of imports from China. The world's two largest economies have been locked in an escalating dispute this year over Washington's allegations that China uses "unfair" trading practices that, among other things, force American companies operating in the country to hand their intellectual property over to Chinese ... (more...)
Apple Watch, AirPods excluded from next round of tariffs says new report
- September 18, 2018

Trump has already imposed 25 percent tariffs on $50 billion in Chinese goods. China's foreign ministry said Monday it would strike back at the USA if Washington moved forward with new tariffs on $200 billion of its exports. Steve Mnuchin and Chinese Vice Premier Liu He, respectively, are scheduled to meet in Washington , DC, September 27-28. Chinese officials are likely already tired of entering negotiations with Mnuchin, after a truce he supposedly brokered with Liu in May was ... (more...)
Vijaya, Dena, Bank of Baroda to be merged Vijaya, Dena, Bank of Baroda to be merged
- September 18, 2018

The government said on Monday announced a plan to merge three state-run banks. "While making this suggestion, we have borne in mind that we don't want a merger of what are relatively weak banks", Mr Jaitley said, adding, "You can have two well performing banks absorbing a weak one in the amalgamation process and hopefully creating a mega bank which will be sustainable, whose lending ability which will be far higher". (more...)
Lucid Motors gets $1B from Saudi fund, pushes EV debut to 2020 Lucid Motors gets $1B from Saudi fund, pushes EV debut to 2020
- September 18, 2018

The investment "will provide the necessary funding to commercially launch Lucid's first electric vehicle, the Lucid Air , in 2020", the sovereign wealth fund said in a statement. Securities and Exchange Commission is investigating the disclosure, including asking board members what they knew about Musk's plans. Meanwhile Monday, the sovereign wealth fund, also known by the acronym PIF, for Public Investment Fund, said it had taken its first loan, an $11 billion borrowing. (more...)
Time Magazine Sold To Salesforce Co-Founder Marc Benioff For $190M Time Magazine Sold To Salesforce Co-Founder Marc Benioff For $190M
- September 18, 2018

Benioff, for instance, has criticized laws that could permit anti-gay discrimination and has spent millions to close the gender pay gap at Salesforce . Time magazine is changing hands once again, almost eight months after it was sold to United States media group Meredith Corporation . "For over 90 years, TIME has been at the forefront of the most significant events and impactful stories that shape our global conversation", said Tom Harty , Meredith's chief executive, in a statement. (more...)
Trump to Lay Out Line on China Trade
- September 18, 2018

Trump will "immediately" pursue another $267 billion in tariffs if China retaliates. In April, when Trump threatened tariffs on another $100 billion of Chinese goods, then seen as a major escalation, China responded by saying it would not conduct talks "under these conditions". (more...)
Athlete banned from all-you-can-eat restaurant for eating too much Athlete banned from all-you-can-eat restaurant for eating too much
- September 18, 2018

A German-language website Stern reported Bobrowski managed to devour the sushi in roughly 90 minutes and only received notice of the impending ban from the restaurant owner when he went to pay . "I was stunned", Bobrowski, a former bodybuilder, told the paper. The owner told Bobrowski personally that he was no longer allowed to eat there because of his costly habits. (more...)
Amazon launches Amazon launches "Storefronts" to promote small businesses
- September 18, 2018

Storefronts categories include books, travel, grocery, jewelry and pet supplies. "We've created a custom, one-stop shopping experience for customers looking for interesting, innovative and high quality products from American businesses from all across the country". (more...)
Trump economic adviser says US wants serious trade talks with China
- September 18, 2018

U.S. President Donald Trump reportedly directed his aides to proceed with fresh tariffs on Chinese goods. American officials say those violate Beijing's market-opening commitments and worry they might erode USA industrial leadership. China has threatened to retaliate and pull out of negotiations if that happens. The Chinese government's top diplomat, State Councillor Wang Yi, will visit NY this week for the annual United Nations General Assembly, Beijing announced on Monday. (more...)
Tesla (NASDAQ:TSLA) Stock Rating Lowered by Consumer Edge Tesla (NASDAQ:TSLA) Stock Rating Lowered by Consumer Edge
- September 18, 2018

Tesla's one-month implied volatility skew, a measure of investor sentiment toward downside risk, is at about 14 percent, not far from a record high, according to the firm's data. Tesla shares have lost 19% over the past month, and are down 9% this year. Global Financial Private Capital LLC now owns 3,952 shares of the electric vehicle producer's stock worth $1,052,000 after purchasing an additional 171 shares in the last quarter. (more...)
Musk says Tesla now in 'delivery logistics hell'
- September 17, 2018

Tesla did not immediately respond to a request for comment from Musk and the company. "He's an old, single white guy from England who's been travelling or living in Thailand for 30 to 40 years, ' Mr Musk wrote, adding that Mr Unsworth moved in Thailand 'for a child bride who was about 12 years old at the time", according to the lawsuit. (more...)
Glance Elon Musk's boring machine being operated by an Xbox controller Glance Elon Musk's boring machine being operated by an Xbox controller
- September 17, 2018

The Boring Company has found a new way to control its tunneling devices: an Xbox One controller. A couple of days after Musk's brief encounter with the green goddess, a video (below) appeared on the Boring Company's Twitter feed showing one of its digging machines apparently being operated by an Xbox controller. (more...)
Tesla's Musk is sued for calling Thai cave rescuer pedophile
- September 17, 2018

Add Elon Musk as an interest to stay up to date on the latest Elon Musk news, video, and analysis from ABC News. Unsworth is an experienced spelunker who helped save 12 boys and their soccer coach from a flooded cave in Thailand in July. (more...)
Coca-Cola, Aurora in talks about making cannabis-infused drinks Coca-Cola, Aurora in talks about making cannabis-infused drinks
- September 17, 2018

Aurora Cannabis shares traded for $9.62, up almost 13 per cent, by 10 a.m. ET. The discussions, which are said to be "serious", concern a line of drinks that would contain the non-psychoactive cannabidiol chemical, meaning consumers wouldn't drink the beverages to catch a buzz but rather to ease pain or inflammation. (more...)
Amazon investigates report employees leaked data for bribes Amazon investigates report employees leaked data for bribes
- September 17, 2018

Amazon confirmed it was conducting a "thorough investigation" of the claims. And that's said to have led to an internal investigation within Amazon, primarily in China but also in the US, to find employees who may allegedly be taking payments in violation of its policies and code of business conduct and ethics. (more...)
Australia Warns Consumer to Cut Strawberries After Needles Found Inside Some Samples Australia Warns Consumer to Cut Strawberries After Needles Found Inside Some Samples
- September 17, 2018

There were no reported injuries, but all remaining stock has been removed from all the supermarket's locations. Police are investigating after the metal needles were found in punnets of fruit across the country, as nervous growers fear a multi-million dollar commercial sabotage. (more...)
Saudi, UAE turning OPEC into 'tool for US,' Iran says Saudi, UAE turning OPEC into 'tool for US,' Iran says
- September 17, 2018

In a move heavily opposed by Iran , OPEC and other oil producers including Russian Federation agreed in June to boost crude output by around a million barrels a day, reversing course after supply cuts that had cleared a global glut and boosted prices. (more...)
Florence death toll at 17, including 3-month-old Florence death toll at 17, including 3-month-old
- September 17, 2018

As of Saturday, about 676,000 homes and businesses were without power in North Carolina, along with 119,000 in SC. In Leland, a low-lying city north of Wilmington, homes and local businesses were engulfed by water yesterday. A man and woman died in Horry County due to carbon monoxide poisoning, according to SC officials. Florence's merciless deluge has already killed 18, trapped hundreds and made parts of North and SC impassable - and the worst flooding is yet to come. (more...)
Australians warned to cut up strawberries after people report finding needles inside
- September 17, 2018

New Zealand imports strawberries from Australia during the off-season in this market. Punnets supplied by three brands have been recalled from supermarket shelves although New South Wales Police said they believed a further three brands may be affected. (more...)
Trump 'likely' to announce new China tariffs as early as Monday Trump 'likely' to announce new China tariffs as early as Monday
- September 17, 2018

Trump's top advisers have been united behind his effort to push China to change its economic practices, but they have been divided on his tactics. The two governments have already imposed 25 per cent tariffs on $50 billion of each other's goods. (more...)
Fuel gets cheaper in Karnataka: CM Kumaraswamy slashes cess by Rs 2 Fuel gets cheaper in Karnataka: CM Kumaraswamy slashes cess by Rs 2
- September 17, 2018

The price of fuel is reportedly highest in Mumbai at 89.44 rupees per litre of petrol and 78.33 rupees per litre of diesel. The fuel prices, which made an upward movement on Friday, had touched fresh record levels in three of the four metro cities. (more...)

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