Business


Kenya Posts Improvement in 2018 Ease of Doing Business Rankings Kenya Posts Improvement in 2018 Ease of Doing Business Rankings
- November 01, 2018

The World Bank index ranks 190 countries on the basis of 10 indicators, namely starting a business, dealing with construction permits, registering a property, getting credit, getting electricity, trading across borders, resolving insolvency, enforcing contracts, protecting minority investors and paying taxes. (more...)
Facebook Stock Is Soaring on Hopes That Stories Will Grow Facebook Stock Is Soaring on Hopes That Stories Will Grow
- October 31, 2018

In what could wind up costing Facebook more money, British finance minister Philip Hammond said he planned to introduce a digital services tax aimed at tech giants from 2020, responding to public outrage over low tax payments by United States tech giants. (more...)
Oil prices set for biggest monthly decline since 2016 on growth fears Oil prices set for biggest monthly decline since 2016 on growth fears
- October 31, 2018

Oil's on track for its worst month since 2016 as the specter of a slowing global economy haunts the market that's grappling with growing US inventories and mixed signals from producers. Meanwhile, the International Energy Agency (IEA) said high oil prices were hurting consumers and could dent fuel demand at a time of slowing global economic activity. (more...)
Earth tremors halt fracking for Cuadrilla for second time in a week Earth tremors halt fracking for Cuadrilla for second time in a week
- October 31, 2018

Fracking at the UK's only active shale gas site in northwest England on Monday halted for a third time by the largest tremor recorded there since work kicked off at the site two weeks ago. There were fresh calls to stop fracking after it was again suspended at Cuadrilla's site in Little Plumpton, following the most powerful natural disaster since work started there just over two weeks ago. (more...)
Istanbul's new airport opens, Turkish Airlines moving by end of year Istanbul's new airport opens, Turkish Airlines moving by end of year
- October 31, 2018

Erdogan said the new facility will continue to grow for the next decade until all phases are completed by 2028, according to state-run Anadolu Agency. Istanbul's existing Ataturk Airport will continue to operate as normal until the end of the year, when it will transfer its global code - IST - as its replacement begins to ramp up its capacity . (more...)
Backing Viral Acharya, union asks govt to stop nibbling at RBI's autonomy Backing Viral Acharya, union asks govt to stop nibbling at RBI's autonomy
- October 31, 2018

The Finance Minister said that after the global financial crisis in 2008 and until 2014, banks were told to open their doors and lend indiscriminately to keep the economy going "artificially". Government officials believe RBI Governor Urjit Patel bears some responsibility for the controversy. Government officials believe that RBI Governor Urjit Patel has some responsibility for the controversy, and he can not expect an extension of his current three-year term - which ends next September ... (more...)
USA limits tech exports to Chinese firm on security grounds USA limits tech exports to Chinese firm on security grounds
- October 31, 2018

The Chinese company was caught up in the legal battle between Micron and UMC. ZTE Corp., China's second-biggest maker of telecoms equipment, faced possible bankruptcy this year after Washington imposed a seven-year ban on sales of US technology to the company over its exports to Iran and North Korea. (more...)
Gwyneth Paltrow's Goop reported to United Kingdom watchdogs over 'potentially dangerous' health advice Gwyneth Paltrow's Goop reported to United Kingdom watchdogs over 'potentially dangerous' health advice
- October 30, 2018

Vitamins for pregnant and lactating women, which she sold on your website have exceeded the recommended dosage. The charity has accused the company of issuing "potentially dangerous" advice related to "unproven" health products, the report further stated. (more...)
BP agrees to buy BHP oil and gas assets BP agrees to buy BHP oil and gas assets
- October 30, 2018

Revenue during the quarter rose to 80.8 billion USA dollars (£63 billion), up substantially from 60.8 billion (£47.5 billion) in the same period past year. Chief financial officer Brian Gilvary said: "This quarter's underlying result was significantly higher than the second quarter in a very similar price environment. (more...)
US Planning More China Tariffs If Meeting With Xi Fails US Planning More China Tariffs If Meeting With Xi Fails
- October 30, 2018

Wall Street took another hit Monday as investors unloaded tech stocks amid fresh worries about tariffs. China's Ministry of Commerce didn't respond to a faxed request for comment. A new list of tariffs would be drawn up on the remaining $257 billion of goods not yet facing tariffs and after a 60-day public comment period, they would go into effect around the Chinese lunar new year holidays in early February. (more...)
General Electric (GE) Shares Sold by Tredje AP fonden General Electric (GE) Shares Sold by Tredje AP fonden
- October 30, 2018

At some point, the investor may have to make the tough decision to sell a stock that previously had a lot of upward potential. If GE's EPS is $0.21 the profit will reach $1.83B for 13.80 P/E. During last 3 month it remained at -0.93%. Portland General Electric Company , an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon.The company has $4.08 billion market cap. (more...)
ABB invests $150 million in robot factory in Shanghai ABB invests $150 million in robot factory in Shanghai
- October 30, 2018

Created to produce 100,000 industrial and service-function robots a year - about a quarter of the world's total production capacity in 2017, ABB's new manufacturing facility in Shanghai is expected to start the production by the end of 2020. (more...)
Tesla Faces FBI Probe of Production Figures Tesla Faces FBI Probe of Production Figures
- October 30, 2018

The Wall Street Journal reports that the DOJ is now looking into whether Tesla misled investors about its vehicle production ramp for the Model 3 back in 2017. According to the WSJ's report, Federal Bureau of Investigation agents have been reaching out to former Tesla employees to get them to testify if a criminal case goes to court. (more...)
Armed father shoots and kills man opening fire at McDonalds Armed father shoots and kills man opening fire at McDonalds
- October 29, 2018

However, the father began shooting at the masked man, hitting and killing him. Police later confirmed that the masked man is now deceased. He ran into the restaurant's freezer, where he heard about 15 shots fired. A witness who told police she was at the drive-thru said she heard eight or nine shots ring out before people started running from the restaurant. They also indicated that they had alerted the family of the gunman of the death. (more...)
Weakened Merkel to step down as chancellor in 2021 Weakened Merkel to step down as chancellor in 2021
- October 29, 2018

After leaders reluctantly agreed to a third right-left coalition earlier this year, the fourth Merkel government has staggered from one crisis to another, nearly collapsing twice over the summer in battles over relatively minor points. "We went into the government because we really want to improve things - for families, for single parents, for caregivers", said Lars Klingbeil, the party's general secretary. (more...)
Prairie ticket takes $60 million Lotto Max jackpot Prairie ticket takes $60 million Lotto Max jackpot
- October 29, 2018

Players must match all seven numbers, in any one set, to win the jackpot or the MAXMILLIONS prizes. The winning numbers were 2,3,4,8,9,20 and 30 with the bonus number being 45. Each ticket is worth just over $500,000. If the Lotto Max jackpot continues to grow it could become the largest in history. Last week, a $ million Maxmillions ticket was sold for the draw on Friday, Oct. (more...)
Passenger plane crashes in Indonesia on domestic flight Passenger plane crashes in Indonesia on domestic flight
- October 29, 2018

A search and rescue effort has been launched for the plane, which departed Jakarta about 6.20am on Monday. The flight was en route to Pangkal Pinang on Bangka island, east of Sumatra. The jet was a Boeing 737 Max 8 model, according to air-tracking service Flightradar 24. "We can not give any comment at this moment, said Edward Sirait, chief executive of Lion Air Group". (more...)
UK Royal Mint Halts Plans to Offer Gold-Backed Crypto UK Royal Mint Halts Plans to Offer Gold-Backed Crypto
- October 29, 2018

Had the deal gone through, it would have been the first time a government from a developed country would have been involved with a crypto exchange . The Royal Mint , one of the leading export mint has recalled on its plans to issue a digital gold token. (more...)
ECB's Draghi sees eurozone upswing intact ECB's Draghi sees eurozone upswing intact
- October 29, 2018

It is not a solicitation to make any exchange in commodities, securities or other financial instruments. The European Central Bank said Thursday it is staying on course to wrap up its 2.5 trillion euro ($2.85 trillion) stimulus program at the end of the year, even as risks from trade protectionism, Italian populist policies, and Brexit loom ever larger. (more...)
Microsoft overtakes Amazon as second most valuable U.S. company Microsoft overtakes Amazon as second most valuable U.S. company
- October 29, 2018

After Amazon shared financial results lower than Wall Street expectations, its share price plummeted by as much as 10% in late trading on October 25, meaning that Microsoft has overtaken it as the second largest company in the world, according to The Telegraph . (more...)
IBM to acquire Red Hat in deal valued at $34B IBM to acquire Red Hat in deal valued at $34B
- October 28, 2018

It changes everything about the cloud market", said Ginni Rometty, IBM Chairman, President and Chief Executive Officer. It also expects to use Red Hat's open source roots to its advantage - in theory, this encourages companies to move to the cloud when they'd otherwise be wary of being locked in. (more...)
Ryanair issues lengthy defence of conduct after passenger’s racist tirade Ryanair issues lengthy defence of conduct after passenger’s racist tirade
- October 28, 2018

Eventually, Mrs Gayle, 77, was moved to another seat as flight attendants and passengers intervened, following which, Mesher was heard telling a steward: "I'm alright now she's gone". The airline claimed they wrote to Delsie to apologise for the incident and insisted the matter had been reported to the police and being treated with the "utmost attention and urgency" by Ryanair. (more...)
Barclays to avoid trial in blow for fraud office Barclays to avoid trial in blow for fraud office
- October 28, 2018

The High Court today ruled against the SFO's appeal of an earlier court ruling in favour of the bank. The Serious Fraud Office (SFO) brought charges against the bank over the 2008 deal, which saved Barclays from having to request a United Kingdom government bailout like its rivals Royal Bank of Scotland and Lloyds. (more...)
Exxon Mobil Sued in US over Climate Disclosures Exxon Mobil Sued in US over Climate Disclosures
- October 28, 2018

Instead, the office of the NY attorney general is suing the company strictly on the grounds of fraudulence committed against investors and shareholders. Yet, contrary to those representations, the complaint alleges that Exxon frequently did not apply the proxy costs as represented in its business activities. (more...)
Aurora Cannabis' stock surges after getting approval to ship cannabis to Polan Aurora Cannabis' stock surges after getting approval to ship cannabis to Polan
- October 28, 2018

About outlets lined up a long queue, and the order followed by the police patrols. "We expected, you know, certain strains might run out and there would be a bit of a run on supply", Bill Blair , a former Toronto police chief who has led the government's legalisation programme, told TV station CBC . (more...)
Startup fundings grow 108%: Nasscom Startup fundings grow 108%: Nasscom
- October 28, 2018

The IT trade body released its report on "Indian Start-up Ecosystem - Approaching Escape Velocity" as part of the two-day conclave, which said a total of 1,200 start-ups were added in 2018 till September. Late-stage funding increased 259% year-on-year to $3 billion in 2018. Last year, seed-stage funding had dropped 53%. "It is an area that needs protection", she said. (more...)
And you can get it delivered! And you can get it delivered!
- October 28, 2018

McRib locator : McDonald's launched a McRib locator to help you find your sandwich. Fans can order the McRib at participating US restaurants and through McDelivery on Uber Eats. The boneless, rib-shaped pork sandwich is returning for a limited time to over 9,000 McDonald's locations nationwide. The iconic sandwich last appeared in participating restaurants in November 2017. (more...)
U.S. Stocks Resume Retreat as Amazon, Alphabet/Google Tumble U.S. Stocks Resume Retreat as Amazon, Alphabet/Google Tumble
- October 28, 2018

All of the 11 major S&P sectors were in the red, with the communication services .SPLRCL taking the steepest hit with a 2.06 percent fall and technology stocks .SPLRCT down 1.48 percent. Amazon and Alphabet reported big jumps in quarterly profit, but Amazon's sales forecast for the critical holiday-shopping quarter disappointed analysts, and Alphabet's revenues in the just-finished quarter also lagged expectations. (more...)
After East Anglia trial the 26-30 railcard is here to stay After East Anglia trial the 26-30 railcard is here to stay
- October 28, 2018

Train travellers under the age of 30 can rejoice as they are able to travel with cheap tickets for even longer. The Rail Delivery Group said it would mean that "more young people can explore Britain for less", but Labour said the new card didn't "go almost far enough". (more...)
Oil Drops on Stock-Market Swings Oil Drops on Stock-Market Swings
- October 28, 2018

West Texas Intermediate for December delivery rose 31 cents to $67.64/bbl at 1:10 p.m. on the New York Mercantile Exchange after earlier dipping to $66.20. Distillate stockpiles decreased by 2.26 million barrels in the week. The report cautioned of a possible supply crunch as a result of sanctions, given low OPEC spare capacity and disruptions in countries like Venezuela. (more...)

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