Business


Ikea axing 350 United Kingdom jobs Ikea axing 350 United Kingdom jobs
- November 21, 2018

The retailer has also opened two new stores in Sheffield and Exeter. " IKEA India will hire many more people, both in terms of direct and indirect employment, and as we start our digitisation journey, we will add many more co-workers with different skill sets, while also creating avenues for our existing co-workers to grow in many new roles", IKEA India Chief Executive Officer Peter Betze said. (more...)
First Massachusetts recreational marijuana dispensaries open First Massachusetts recreational marijuana dispensaries open
- November 21, 2018

New England Treatment Access's first customer was Northampton Mayor David Narkewicz, who grinned for cameras as he made the purchase. Uber riders should receive an email on Tuesday morning from the transportation company and Mother's Against Drunk Driving reminding them on the first day of legal marijuana sales in MA that driving while high is risky. (more...)
Thomas Kurian to replace Diane Greene as head of Google's Cloud division Thomas Kurian to replace Diane Greene as head of Google's Cloud division
- November 21, 2018

Greene says she is proud of all the things Google Cloud has achieved under her tenure. On the flipside, for Google Cloud , the joining of Kurian could prove to be pivotal, as he was well-reputed as an inventive mind. The challenge for Kurian is going to be building a channel program within Google that can help make the search engine giant a respected cloud powerhouse. (more...)
Japan says ready to work for stability of Nissan-Renault alliance Japan says ready to work for stability of Nissan-Renault alliance
- November 21, 2018

At a news conference in Japan late on Monday, Saikawa outlined three broad categories of accusation against Ghosn: under-reporting of compensation; misrepresenting company investments; and making personal use of company assets. The setup has come under pressure from Nissan in recent years to address a lopsided balance of power after the Japanese company consistently outgrew Renault in sales and profits. (more...)
Apple Cuts Production Orders for All 3 New iPhone Models Apple Cuts Production Orders for All 3 New iPhone Models
- November 21, 2018

It was only a few weeks ago when we heard that Apple had slashed production of the iPhone XR as demand failed to meet expectations. Weaker demand in China is also reportedly another reason for the cuts . Such concerns are thought to be why Apple chose to stop reporting unit sales, which analysts relied on as a key metric. In the case of the iPhone X, there are reports it wasn't doing well due to slow growth at Samsung's display unit. (more...)
Striking Tulip observation tower planned for London Striking Tulip observation tower planned for London
- November 20, 2018

A sky bar and restaurants will offer 360-degree views of the city, and visitors will be able to learn about the history of London with the help of interactive materials and expert guides found within the building's soft, bud-like form. A two-story entrance atrium at the 31,100-square-foot building's base will feature an occupiable public roof deck and retail to create a street-level presence for the tower. (more...)
No better Brexit deal available, European Union ministers tell Britain No better Brexit deal available, European Union ministers tell Britain
- November 20, 2018

On Monday, the DUP displayed their power by failing to back May's minority government in several votes on a finance bill. The DUP fired a warning shot at Theresa May yesterday as the party's MPs failed to back her in key votes amid their demands for a better Brexit deal. (more...)
Nissan to Oust Chairman After Finding ‘Significant Acts of Misconduct’ Nissan to Oust Chairman After Finding ‘Significant Acts of Misconduct’
- November 20, 2018

The Brazilian-born Ghosn also serves as the chairman of Mitsubishi Motors; chairman and CEO of Renault; and chairman and CEO of the Alliance, a carmaking unit consisting of Nissan , Renault, and Mitsubishi. Ghosn is well regarded for having turned Nissan around from near bankruptcy. He joined Nissan in 1999 after Renault bought a controlling stake and became its CEO in 2001. (more...)
China downplays failure to reach APEC joint statement China downplays failure to reach APEC joint statement
- November 20, 2018

The 21 nations at the Asia-Pacific Economic Cooperation summit in Port Moresby struggled to bridge differences on issues such as trade protectionism, making it likely their final statement Sunday will be an anodyne document. The envisioned regional pact encompasses about 40 percent of the world's population, about half of global trade by volume and some 60 percent of the world economy. (more...)
Chipotle May Rehire Manager After She Denied Service to Five Black Men Chipotle May Rehire Manager After She Denied Service to Five Black Men
- November 19, 2018

One of the men, 21-year-old Masud Ali, posted a video of the incident on Twitter , alleging that he and his friends were subjected to racial stereotyping. Chipotle was quick to terminate the manager. The men were vocal in their objections and asked a white customer if he had paid before ordering. Some people were more than upset that the manager was sacked. (more...)
Apple chief says tougher data regulation is inevitable Apple chief says tougher data regulation is inevitable
- November 19, 2018

We have intelligent tracker prevention. What we've tried to do is come up with ways to help our users through their course of the day. "I think the Congress and the administration at some point will pass something", he was quoted as saying. (more...)
Oil prices climb on prospect of OPEC cuts Oil prices climb on prospect of OPEC cuts
- November 19, 2018

Brent settled up 14 cents at $66.76 per barrel but fell 4.6 percent in the week, the sixth consecutive decline; West Texas Intermediate settled unchanged at $56.46 per barrel, having fallen 5.6 percent in the week, also its sixth straight weekly decline. (more...)
Cruise ship returns to Fort Lauderdale after passenger dies aboard Cruise ship returns to Fort Lauderdale after passenger dies aboard
- November 19, 2018

The arrival was attended by Celebrity Cruises President and CEO Lisa Lutoff-Perlo and Royal Caribbean Cruises Ltd. Chairman and CEO Richard Fain who took part in a ribbon-cutting ceremony with port and city officials. I thought it was in the middle of night; it was early morning", she said, "and next thing I know, I heard over the loudspeaker, 'All security to Deck 7'". (more...)
Apple Cuts New iPhone Production by 30 Percent
- November 19, 2018

Apple's iPhone XR starts at Rs 76,900 in India, the iPhone XS at Rs 99,900. Same sources cited by the WSJ said that the reason behind Apple's decision was the iPhone maker's difficulty in properly anticipating and predicting the exact number of handsets and components it needed. (more...)
Government may not issue directions to RBI under section 7 Government may not issue directions to RBI under section 7
- November 19, 2018

Ahead of the RBI Central Board meeting in Mumbai on Monday, Congress president Rahul Gandhi hoped RBI Governor Urjit Patel and his team "have a spine" and resist Prime Minister Narendra Modi's alleged attempts to "destroy" every independent institution in the country. (more...)
Volkswagen to spend $50B on electric auto ‘offensive’ Volkswagen to spend $50B on electric auto ‘offensive’
- November 19, 2018

Volkswagen is converting three of its German plants from internal combustion to battery auto production as it pivots away from diesel vehicles in the wake of its emissions scandal. In addition, the planned construction of a factory in Eastern Europe . German automaker plans to produce electric cars , dive into autonomous driving and provide new mobility services by 2023. (more...)
Carlos Ghosn to be ousted as Nissan boss due to 'serious misconduct' Carlos Ghosn to be ousted as Nissan boss due to 'serious misconduct'
- November 19, 2018

Japanese auto giant Nissan has proposed removing chairman Carlos Ghosn from his post over financial misconduct claims. "The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation", Nissan said in a statement. (more...)
SEC Settles Securities Registration Charges Against 2 ICO Startups SEC Settles Securities Registration Charges Against 2 ICO Startups
- November 19, 2018

The investigation into Paragon was conducted by Pamela Sawhney of the Enforcement Division's Cyber Unit and was supervised by Robert A. Cohen, Chief of the Cyber Unit. Unfortunately, these amounts did not include any of the cryptocurrencies they collected during the Paragon ICO "presale". This has been a big week for digital asset / ICO law in America. (more...)
RBI Board meet: Rahul Gandhi hopes Urjit Patel, his team have spine
- November 19, 2018

The other 13 members include two government representatives, seven government-appointed non-official directors and four more from the central bank's local boards. "I hope Patel and his team have a spine and show him his place", he tweeted . If both sides pull back from the brink, then it implicitly signals a compromise-especially since the board is expected to take up the agenda carried over from the previous meeting, the one that ended in a acrimonious public fallout. (more...)
Canada issues plea for the world to stop sending emails Canada issues plea for the world to stop sending emails
- November 19, 2018

Canada Post and the Canadian Union of Postal Workers have been in contract negotiations for almost a year, with no success. At Nerman's Books, Garry Nerman said he too sends packages by other means but relies on Canada Post for other orders. (more...)
Japan Airlines tightens alcohol rules for pilots after Heathrow arrest Japan Airlines tightens alcohol rules for pilots after Heathrow arrest
- November 19, 2018

In India, a pilot was also recently barred from flying for three years after he failed an alcohol test. The airline will introduce more advanced breathalyzers for its domestic and worldwide crews by Monday, November 19, Japanese national newspaper The Asahi Shimbun reported. (more...)
Irish premier warns against attempt to ‘amend or unthink’ Brexit deal Irish premier warns against attempt to ‘amend or unthink’ Brexit deal
- November 19, 2018

He said if it looked as though Britain were heading towards a no-deal departure from the European Union then direct discussions on how to avoid a hard border would be required. As representatives from Northern Ireland's four main pro-remain parties met Leo Varadkar at Government Buildings in Dublin yesterday , the draft agreement the Taoiseach had publicly supported seemed certain to be rejected by the Commons . (more...)
British Prime Minister Theresa May: Ousting me risks delaying Brexit British Prime Minister Theresa May: Ousting me risks delaying Brexit
- November 19, 2018

Labour leader Jeremy Corbyn said his party could get a better deal in time for Brexit. May says the next seven days will be critical, and they climax at a European leaders' summit next weekend, after May spends time in Brussels working on the final political declaration about Britain's future trading relationship with the EU. (more...)
Amazon will go bankrupt one day, CEO Jeff Bezos tells employees Amazon will go bankrupt one day, CEO Jeff Bezos tells employees
- November 18, 2018

To postpone the end of the company's lifespan, Bezos argued that Amazon needs to focus its energy on its customers, rather than worrying too much about the internal dynamics at play. Amazon, over the past few years, has notably expanded and presently has more than 550,000 lakh people working for it worldwide. It now has over 600,000 employees and a stock price that's quadrupled over the last five years. (more...)
Why Did Bitcoin Cash Fell In Price By 50%? Why Did Bitcoin Cash Fell In Price By 50%?
- November 18, 2018

The bitcoin-to-dollar exchange rate has surged 2.21 percent from its previous low at 5291-fiat, now trading at 5408-fiat. "The Bitcoin Cash hard fork is proving far more destabilising than initially thought as numerous competing factions muddy the landscape", Stephen Innes, head of trading for Asia Pacific as Oanda, said in a note. (more...)
Oil price drops amid fears over demand Oil price drops amid fears over demand
- November 17, 2018

The head of Libyan state oil firm NOC said in a statement on Thursday that it was important for OPEC and non-OPEC producers to co-operate to maintain oil market stability. In reality, they may have discussed this option last weekend along with other options at the meeting in Abu Dhabi , but it does not seem to be a coincidence that news of this larger plan surfaced a day after one of the sharpest declines in oil prices in a long time. (more...)
China hotels red-faced after dirty cleaning practices revealed China hotels red-faced after dirty cleaning practices revealed
- November 17, 2018

The Ritz-Carlton in Shanghai said it carried out an investigation after the video exposed one of its cleaners, who had been found using the same towel to clean the shower glass, floor, counter and cups. Fearing retribution from the hotels he stays in, Huazong has not revealed his real name. The hotel chain apologized in a statement posted to Weibo. (more...)
Protectionism 'Doomed To Failure': China's Xi Says In Swipe At US Protectionism 'Doomed To Failure': China's Xi Says In Swipe At US
- November 17, 2018

The media were also refused entry yesterday whilst trying to cover the bilateral meeting between the Chinese President Xi Jinping and the other Pacific leaders. Pence also said that The US wanted a "better relationship" with China , if it respects its neighbours' sovereignty, embraced "free, fair and reciprocal trade" and its human rights record. (more...)
Amazon staff prepare for the onslaught of Black Friday shopping Amazon staff prepare for the onslaught of Black Friday shopping
- November 17, 2018

Unsurprisingly, it's big-ticket tech products that people tend to snap up over the Black Friday weekend - including top of the range televisions, laptops and household appliances. Amazon is also advertising deep discounts on various product categories. Again, all of these go live on Amazon's website starting Thanksgiving Day, but Alexa will offer them to voice shoppers starting this Sunday. (more...)
Uber loss tops $1bn loss ahead of planned IPO next year Uber loss tops $1bn loss ahead of planned IPO next year
- November 17, 2018

Uber Technologies posted a more than US$1 billion loss in the three months to September as the company continued to invest in new business segments such as freight and food delivery and electric bikes and scooters . Uber bookings were about $12.7 billion in September quarter. Uber a year ago chose to share selected financial figures publicly. Under the chief executive Dara Khosrowshahi , who took over from Kalanick, Uber has also retreated from some markets where it has suffered losses. (more...)

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