Business


Michael Kors to buy out Versace for at least $2B Michael Kors to buy out Versace for at least $2B
- September 24, 2018

Italian fashion giant Versace is about to be sold, the country's biggest-selling newspaper said Monday, citing anonymous sources who suggested the deal could come in the next few hours. "It was overpriced", the source said. Models present creations at the Versace show during Milan Fashion Week Spring 2019 in Milan on Friday. Michael Kors and private equity firm Blackstone, which owns 20% of Versace, did not immediately respond to a request for comment. (more...)
SiriusXM purchases Pandora for $3.5 billion
- September 24, 2018

The companies hope to cross-promote between SiriusXM's more than 36 million United States subscribers and 23 million annual trial listeners, and Pandora's more than 70 million monthly active users. For Pandora, the music streaming company said the deal would fortify its advertising business, and boost its subscription offerings. The powerful combination of SiriusXM's content, position in the vehicle, and premium subscription products, along with the biggest audio streaming service in the US, ... (more...)
Oil price rises as markets tighten ahead of Iran sanctions
- September 24, 2018

Iranian minister of petroleum has welcomed OPEC's decision effectively rebuffing President Donald Trump's calls for a hike in oil output , saying USA dream to zero Iran's oil exports would not realize. Iran's OPEC governor, Hossein Kazempour Ardebili, said in comments to Reuters that Saudi Arabia and Russian Federation were unable and unwilling to add more production at short notice. (more...)
Could you stay 30 hours in a coffin? Could you stay 30 hours in a coffin?
- September 24, 2018

All remaining winners will receive the season passes and a Fright Fest package. Six Flags will provide "six, deluxe, 2' x 7', slight used coffins", as well as "meals, snacks and drinks in bed", as well as a six-minute bathroom break every hour. (more...)
Petrol crosses 90 mark in Mumbai, shoots up in other cities Petrol crosses 90 mark in Mumbai, shoots up in other cities
- September 24, 2018

Providing no respite to consumers, the prices of petrol and diesel continued to scale new heights on Monday. Petrol and diesel prices in the financial capital stood at Rs 90.08 per litre and Rs 78.58 per litre, respectively. Fuel prices have risen by more than Rs 5 per litre - the most in any one-month period since the daily revision in fuel prices was introduced in June past year. (more...)
Saudi Arabia rejects Trump request to hike oil output
- September 24, 2018

Agreed in June of this year, the Vienna deal saw major oil producers agree to boost crude oil output by one million barrels-per-day, as part of a compromise deal to ease oil prices and tackle supply issues caused by a fall in output from Iran and Venezuela . (more...)
Petrol Price Crosses 90 Rupees In Mumbai, Cheapest In Delhi Among Metros
- September 24, 2018

Petrol, diesel rates on Monday: Petrol was being sold in New Delhi for Rs 82.72/ litre. Diesel is now being sold at Rs 78.58 per litre in Mumbai, Rs 74.02 per litre in Delhi, Rs 75.87 per litre in Kolkata and Rs 78.26 per litre in Chennai. (more...)
Porsche abandons diesel motors Porsche abandons diesel motors
- September 24, 2018

Porsche's decision represents the first time a major German automaker has publicly acknowledged ending diesel sales. Porsche downplayed its role in the massive cheating scandal and said Audi supplied its diesel engines, but nonetheless complied with the wide-ranging order. (more...)
Michelle Guthrie sacked as Managing Director of ABC Michelle Guthrie sacked as Managing Director of ABC
- September 24, 2018

He also said the ABC's relationship with the federal government "could have been better" under Ms Guthrie. In June, high-profile Melbourne ABC mornings presenter Jon Faine slammed her at the Melbourne Press Club for her "failed strategy" and "staying silent" after the former Turnbull government freezed its funding by $84 million over three years in the May budget. (more...)
Oil price up as Trump calls OPEC to lower prices
- September 24, 2018

A committee of participating states "expressed its satisfaction regarding the current oil market outlook with an overall healthy balance between supply and demand", a statement said, at the end of a meeting in Algiers. The Opec oil cartel raised its global production forecast on Sunday based on higher-than-predicted USA output in a report outlining a long-term rise in net demand, particularly in developing countries. (more...)
Student Pilot Arrested After Hopping Florida Airport Fence and Boarding Plane: Cops Student Pilot Arrested After Hopping Florida Airport Fence and Boarding Plane: Cops
- September 24, 2018

A man identified as Florida Institute of Technology student Nishal Sankat drove to the curb outside Orlando-Melbourne International Airport, left his auto running, hopped a fence and boarded an Airbus 321 American Airlines aircraft sitting in a maintenance facility, airport spokeswoman Lori Booker said . (more...)
Ripple Soars, Overtakes Ethereum As 2nd Largest Crytpocurrency Ripple Soars, Overtakes Ethereum As 2nd Largest Crytpocurrency
- September 24, 2018

However, many cryptocurrency enthusiasts who follow the fortunes of the currency took to Reddit to clarify their belief that Western Union is structured in such a way as not to be in a position to benefit from xRapid . The pattern formation consists of a lower price peak that looks like a left shoulder, a higher price peak that resembles a head formation, a right shoulder that is another lower price peak and a neckline that is drawn by analysts. (more...)
May vows to hold nerve after Brexit talks hit impasse May vows to hold nerve after Brexit talks hit impasse
- September 24, 2018

Energy-rich Norway opted against joining the EU in 1994, choosing instead to enter the European Economic Area (EEA) which gives it all the benefits of the single market. Last time May called a snap election, just over a year ago, the Conservatives' majority evaporated, leaving the party dependent on the support of the far-right DUP of Northern Ireland. (more...)
Strawberries pulled from shelves in New Zealand after needles found within Strawberries pulled from shelves in New Zealand after needles found within
- September 24, 2018

The Australian strawberry scare has spread to New Zealand with a supermarket chain announcing on Sunday that needles were found in a box of the fruit sourced from the neighbouring country. "Police are taking this report seriously and are investigating together with our colleagues at the Ministry for Primary Industries", a spokeswoman said. (more...)
Tilray shares continue to climb higher on second day after export approval Tilray shares continue to climb higher on second day after export approval
- September 23, 2018

As for Coronos, Citron said the cannabis producer "appears to have been deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces - unlike every other major cannabis player". Tilray shares are up 41.55% ahead of Wednesday's opening bell. Kennedy and Blue are both graduates of Yale School of Management's MBA program, while Kennedy and Groh worked together at SVB Analytics, a non-bank affiliate of Silicon Valley bank. (more...)
Netizens are slamming these expensive taped sneakers for glorifying poverty Netizens are slamming these expensive taped sneakers for glorifying poverty
- September 23, 2018

But the tape raises as many questions as it answers: Is the sneaker underneath the tape clean? More than 40 million Americans live in poverty, according to the United States census, but consumers of all kinds weighed in on the shoes this week. (more...)
Trump urges Opec to lower the price of oil Trump urges Opec to lower the price of oil
- September 23, 2018

Zanganeh said that the agreement reached in 2016 between OPEC member states and non-OPEC allied producers, mainly Russian Federation, to cut crude output "is in tatters". While Saudi Arabia and Russian Federation have recently boosted output to compensate, it's unclear whether they're willing or able to offset all the losses from Iran . (more...)
Uber is looking to buy Deliveroo Uber is looking to buy Deliveroo
- September 23, 2018

Correspondingly, the company's CEO Dara Khosrowshahi has made a decision to throw a spotlight on its food-delivery business before scheduled 2019 IPO. In this, the customers can order dishes from various restaurants in a single order. In a bid to acquire Deliveroo , Uber plans to take over Europe's takeaway business and boost the presence of Uber Eats globally. (more...)
Cathay Pacific spells own name wrong on side of plane Cathay Pacific spells own name wrong on side of plane
- September 23, 2018

M - A major airline had to send a plane "back to the shop" after spelling its own name wrong, Sky News reports. The aircraft was seen by passengers at Hong Kong International Airport who alerted the airline. Cathay Pacific wrote: "Oops this special livery won't last long!" And an engineer for Haeco, a Cathay Pacific sister company, suggested it could have been deliberate, telling the paper: "The spacing is too on-point for a mishap". (more...)
Comcast beats Fox in Sky auction with $US39b bid Comcast beats Fox in Sky auction with $US39b bid
- September 23, 2018

Since Murdoch's Fox first tabled a £10.75 offer in December 2016, Sky shares have more than doubled, and have risen 56 per cent since the start of the year. "In our view, Disney will become a much more complicated company for the Street to analyze upon closure of the Fox transaction, but becoming a de-factor joint venture partner on Sky with Comcast complicates the situation even further, in our opinion". (more...)
Emirates said to be exploring takeover of struggling Etihad Emirates said to be exploring takeover of struggling Etihad
- September 23, 2018

A combination of the airlines would provide further evidence of the sheikdoms consolidating businesses to boost competitiveness. Emirates chairman Sheikh Ahmed bin Saeed Al Maktoum and its president Sir Tim Clark have previously denied reports of any merger talks between the two carriers. (more...)
Sky bid tussle to be settled by auction Sky bid tussle to be settled by auction
- September 23, 2018

In the opening round, the would-be buyer with the lower offer now on the table - meaning Fox at this point - makes the first bid. Since Fox made its first bid almost two years ago, it has agreed to sell a major chunk of its business - including the existing 39% Sky stake - to U.S. (more...)
USA markets hit new record high USA markets hit new record high
- September 22, 2018

Nike climbed 1.1 percent after brokerage Susquehanna highlighted the company's improving sales of footwear. Chipmakers Intel (INTC.O) and Micron (MU.O) rose 1.1 percent and 3.6 percent. Technology companies led the Nasdaq higher, along with the S&P 500 , which also hit a new closing high. The Nasdaq composite climbed 78 points, or 1 percent, to 8,028. (more...)
Hundreds queue as Tesco opens first Jack´s discount stores Hundreds queue as Tesco opens first Jack´s discount stores
- September 22, 2018

With the new chain, Tesco has to walk a fine line, challenging the discounters while avoiding cannibalisation of its main store brand with lower prices . Competition at the top of the United Kingdom supermarket sector has continued to intensify since the initial price wars to attract customers and protect market shares in the stampede to the discounters. (more...)
New Audi e-tron takes fight to Tesla New Audi e-tron takes fight to Tesla
- September 22, 2018

Audi is still testing the e-tron's range between charges but says that it will be at least 248 miles under the latest WLTP "real world" testing cycle. Amazon will deliver the hardware and hire electricians to install them through its Amazon Home Services operation. Tesla has developed its own network of Supercharger charging stations with more than 11,000 chargers in North America. (more...)
Barclays online and mobile banking DOWN locking customers out of accounts Barclays online and mobile banking DOWN locking customers out of accounts
- September 22, 2018

This morning a spokesman for the taxpayer-backed lender said that it had resolved the problems and that all its online services were back up and running as normal. The manager was trying to placate customers and couldn't advise when they would be back online. Customers hit out at the banks on Twitter, with one saying: "Natwest app down again". (more...)
New Delhi to Pay for Iranian Oil With Rupees
- September 22, 2018

The sources said India has selected UCO Bank and IDBI Bank for facilitating payment to Iran. India is yet to take a call on complying with the US sanctions on Iran. UCO Bank and IDBI Bank have been identified to route the payment as the two have no exposure to the U.S. financial system. Chennai Petroleum , a subsidiary of the country's biggest refiner Indian Oil Corp (IOC), has a deal to buy up to 2 million tons, or 40,000 bpd, of oil from Iran in the fiscal year 2018/19. (more...)
Walmart warns Trump tariffs may force price hikes Walmart warns Trump tariffs may force price hikes
- September 22, 2018

Several chains asked the White House not to implement the added tariffs on $200 billion in goods. Ma's statement comes on the heels of the Trump administration imposing tariffs on $200 billion worth of imports from China and the Chinese reacting with tariffs on about $60 billion worth of USA goods. (more...)
Latest with these Supermarket Giants - Woolworths and Coles raise the milk prices Latest with these Supermarket Giants - Woolworths and Coles raise the milk prices
- September 22, 2018

Following in Woolworths' footsteps, Coles later confirmed it too would add a 10 cent per litre levy, with prices increasing from Thursday until the end of the year. On Thursday he applauded Woolworths' move. "There's no doubt many dairy farmers are doing it tough in the face of the drought and we're keen to support them through this hard time", Paul Harker, Woolworths Director of Fresh Food, said. (more...)
Alibaba Cloud's City Brain solution improves urban management in Hangzhou - USA Alibaba Cloud's City Brain solution improves urban management in Hangzhou - USA
- September 22, 2018

Separately, Ma had warned China's business and political leaders that the trade war between China and the USA could last 20 years, longer than Mr. Trump's presidency, according to Bloomberg News. Ma will be succeeded by CEO Daniel Zhang, an 11-year veteran of the company. Ma, the cofounder of Alibaba, announced in early September that he would step down from his role as chairman at the end of the year to focus on philanthropy. (more...)

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