Business


Fed Chief's Remarks On Economy And Interest Rates Cheer Investors Fed Chief's Remarks On Economy And Interest Rates Cheer Investors
- November 28, 2018

Speaking to the Economic Club of New York Powell said interest rates were now "just below" the range Fed officials consider neutral, a setting created to neither speed nor slow growth. Trump has repeatedly attacked Powell for continuing to raise the benchmark lending rate, which he says undermines the work he is doing to juice the U.S. (more...)
Kudlow: Trump ‘Positive’ Going Into Meeting With Chinese Leader Xi Kudlow: Trump ‘Positive’ Going Into Meeting With Chinese Leader Xi
- November 28, 2018

The rate increase, from 10pc to 25pc, is due to be implemented on Jan 1. U.S. President Donald J. Trump said an interview with The Wall Street Journal (WSJ) Monday that the levy could be as high as 10 percent. Washington is however open to reaching a deal with Beijing, with White House economic adviser Larry Kudlow saying the US President is expecting this to take place over a dinner on Saturday. (more...)
11,000 pubs in Britain have disappeared in a decade 11,000 pubs in Britain have disappeared in a decade
- November 28, 2018

The news raised concerns a sale could result in some closures or pubs being turned into flats. More than 200 pubs have been lost in Devon since 2001, new figures show. Barking and Dagenham, Newham and Luton all have fewer than half the number of pubs they did in 2001. Employment at pubs increased by 6 percent in 2018 from 2008 levels, though the number of jobs in pubs dipped during the economic recession. (more...)
Italy set to back down in EU budget row Italy set to back down in EU budget row
- November 28, 2018

Italy's Deputy Prime Minister Matteo Salvini said on November 26 that the government had received "positive feedback" from Brussels about lowering its 2019 deficit target. "What is important is that the budget contains the goals that we have established", Di Maio said on Monday. Giuseppe Conte told Italy's Ansa news agency "I do not talk about decimals", and argued it was more important to assess the wider economic impact of the proposed reforms. (more...)
Uber fined £385,000 for hack of 2,700,000 passengers in the UK Uber fined £385,000 for hack of 2,700,000 passengers in the UK
- November 28, 2018

Uber has been fined £385,000 for failing to protect customer information following a major data breach . Last November, Uber confessed that it hid an extortion-oriented cyberattack which exposed the personal info for roughly 57 million customers and drivers in October 2016, including names, email addresses and phone numbers. (more...)
Nasdaq Plans to Pursue Bitcoin Futures Despite Plunging Prices, Sources Say Nasdaq Plans to Pursue Bitcoin Futures Despite Plunging Prices, Sources Say
- November 28, 2018

The company that operates the New York Exchange has been said to be planning on entering the Bitcoin Futures market since a year ago and may now be readying itself to take the "bull by the horns" come Q1 2019. That partnership was officially unveiled during CoinDesk's Consensus: Invest conference, when Gabor Gurbacs - VanEck's director of digital asset strategy - announced the move to "bring a regulated crypto 2.0 futures-type contract" to the market. (more...)
Cyber Monday was Amazon’s single biggest shopping day in the company’s history Cyber Monday was Amazon’s single biggest shopping day in the company’s history
- November 28, 2018

These US forecasts still paled in comparison to Alibaba Group Holding's "Singles Day" earlier this month, when the Chinese e-commerce giant raked in US$30.7 billion in sales . ordered more than 180 million items from Amazon. The day after Cyber Monday is typically reserved for two things: travel deal Tuesday and Giving Tuesday. (more...)
Trump warns US may cut off GM subsidies after job cuts Trump warns US may cut off GM subsidies after job cuts
- November 28, 2018

Trump said he would discuss cutting subsidies for General Motors in response to the news . "For decades, workers have devoted their lives, working day and night, to produce some of the finest cars in the country for General Motors". market in 2019, although GM may continue building it in Mexico for other markets, Barra said. In a statement , Holden said: "While the vast majority of steps announced overnight apply directly to North American operations, GM Holden continues to support GM's ... (more...)
USA markets open lower after Donald Trump’s tariff threat USA markets open lower after Donald Trump’s tariff threat
- November 27, 2018

While the Trump Administration is worrying about consumer reaction, Donald Trump suggested a 10% increase of the price wont change much and “people could stand that very easily”. The price of an iPhone ranges from $449 to $1,449 in the US, including older models such as the iPhone 7 that Apple still sells. He said Apple iPhones and laptop computers imported from China would "maybe" also be subject to tariffs, the newspaper reported. (more...)
Microsoft temporarily surpassed Apple to become the world's most valuable company Microsoft temporarily surpassed Apple to become the world's most valuable company
- November 27, 2018

On a day when tech stocks are recovering from a bummer week last week, Microsoft reached a valuation of $814 billion Monday. Currently, Apple has a market cap of US$817.7 billion, meaning it has shed almost US$300 billion in value after cresting a record US$1. (more...)
ATM spitting out $100 bills causes commotion in north Harris County ATM spitting out $100 bills causes commotion in north Harris County
- November 27, 2018

For every $20 requested by the customer, a $100 bill was dispensed by the machine. When the man posted about it on social media, a crowd rushed to the location, deputies said. Christmas came early for a bunch of happy Houston-ites after an ATM in the area began issuing $100 bills instead of $10 bills. People crowded the ATM to withdraw money. (more...)
General Motors News From Ohio, Michigan Could Hurt Trump 2020 Bid General Motors News From Ohio, Michigan Could Hurt Trump 2020 Bid
- November 27, 2018

GM surely sees as much. "I said 'Well , then get a vehicle that is selling well and put it back in.' So I think you're going to see something else happen there". Lordstown Assembly in OH, shown here in 2008, is one of the plants at which General Motors plans to cut production in 2019. "I can't believe our president would allow this to happen", she said Monday. (more...)
Carlos Ghosn hires U.S.-based law firm Paul Weiss Carlos Ghosn hires U.S.-based law firm Paul Weiss
- November 27, 2018

Chairman, president and CEO of Nissan Motor Co., Ltd., Carlos Ghosn . Nissan is nearly 60% bigger than Renault by sales but remains the junior partner in the shareholding structure. Nissan now holds a reciprocal non-voting 15 percent stake in Renault . Nissan today accelerated its bid to redress imbalances in the alliance, seeking to limit the power of its French partner to nominate officials to its board, people familiar with the plan said. (more...)
Logitech Said To Be In Talks To Acquire Headphone Maker Plantronics Logitech Said To Be In Talks To Acquire Headphone Maker Plantronics
- November 27, 2018

Logitech (NASDAQ: LOGI ) has been in talks with Plantronics (NYSE: PLT ) regarding a potential tie-up but the discussions were terminated , the companies say. They have a market capitalization of $5.6 billion but have been struggling of late because of other shifts in the technology sector, including cloud computing, music, gaming, video conferencing, and smart home connectivity. (more...)
Here are Amazon's Cyber Monday 2018 Canada Deals Here are Amazon's Cyber Monday 2018 Canada Deals
- November 26, 2018

Target has prepared for Cyber Monday 2018 with loads of discounts and deals, plus shoppers get an extra 15% off of nearly anything they buy - though that offer excludes some items like Google Home, Samsung TVs, and some cosmetic brands. The discount will be applied to both regularly priced and sale items. Amazon's Cyber Monday deals run until December 2. You can save an additional 5% by using your Target REDcard . (more...)
GM plant in Oshawa, Ont., to shut down GM plant in Oshawa, Ont., to shut down
- November 26, 2018

The salaried reductions amount to 15 percent of GM's North American workforce out of 54,000. Those cuts are in addition to $6.5 billion that the company has announced by the end of this year. But moving that auto, the Chevrolet Cruze, south of the border brings the risk of provoking a backlash from President Donald Trump . In a statement, Unifor local 222 leadership said they do not "accept the closure of the plant as a foregone conclusion". (more...)
GM to slash 14,700 jobs in North America GM to slash 14,700 jobs in North America
- November 26, 2018

Most of the affected factories build cars that won't be sold in the US after next year. "My heart goes out to all those affected by this devastating decision". CBS News reports that the layoffs make up about 15 percent of GM's workforce. Last month, as GM reported a US$2.5-billion third-quarter profit, the automaker also said it was aiming to cut costs by offering buyouts to roughly 18,000 white-collar workers with 12 or more years of service. (more...)
Your Christmas tree could cost a little extra this year Your Christmas tree could cost a little extra this year
- November 26, 2018

The supply is now tight - and replenishing it takes time, since a tree grows eight to 10 years before it's ready for the tree lot. People not able to make it out to a tree lot today may be saving money. In Oregon, some people are taking Fraser fir trees from the East instead of noble firs that are the most popular tree on the West Coast. "If we don't have any trees, it would've been a real nightmare". (more...)
Crypto Market Rebounds After Weekend Massacre Crypto Market Rebounds After Weekend Massacre
- November 26, 2018

The end result was $50 billion wiped from the market capitalization of cryptocurrency in a span of days, and little end in sight for the severe downturn in valuation after months of relative price stability. He said: " Bitcoin's security depends on a rising price attracting more hashrate, attracting the most advanced tech from processing power makers, making it very expensive to attack". (more...)
Black Friday rings up record $6.2 billion in online sales
- November 26, 2018

Online sales, meanwhile, hit a new record. All you have to do is visit the Google Express Black Friday page and scroll down until you find the console you want. Shoppers didn't wait until Black Friday to get started. Last Thanksgiving weekend, people spent almost $20 billion online. GameStop's Cyber Monday deals , which were unveiled this morning, seem like they will be just as good, if not a bit better, for online shoppers. (more...)
Ghosn's Fate Shouldn't Alter Renault-Nissan Accord, France Says Ghosn's Fate Shouldn't Alter Renault-Nissan Accord, France Says
- November 26, 2018

Following his arrest on November 19, Nissan dismissed Ghosn as chairman at an emergency board meeting last Thursday. The executive, who is credited with saving Nissan from bankruptcy in 1999, has yet to speak publicly about the allegations that have rocked the 19-year-old alliance between Nissan and Renault. (more...)
A look back at Canada Post's history of strikes and lockouts A look back at Canada Post's history of strikes and lockouts
- November 26, 2018

While Canada Post employees this morning noted as of now, they have not been told if this Thursday strike is for 24 hours - or for longer. Canada Post delivers two-thirds of the nation's online shopping and the last six weeks of the year are its busiest due to the holiday rush. (more...)
Snow expected to hit Chicago area as Thanksgiving travelers head home Sunday Snow expected to hit Chicago area as Thanksgiving travelers head home Sunday
- November 26, 2018

Any light snow exits around midnight and we clear out into Monday. The National Weather Service said that the winter storm is expected to bring near-blizzard conditions from the Central Plains into the Great Lakes, impacting the Kansas City and Chicago metro areas the hardest. (more...)
Voting period extended for proportional representation ballots Voting period extended for proportional representation ballots
- November 25, 2018

If you have not received a voting package, you have until midnight tonight (Friday, Nov. 23) to request a package. Ballots can be mailed to Elections BC or dropped off the Service BC Centre. "I think that another week is long enough", he said. "We have extended the deadline to ensure that voters are not prevented from participating through no fault of their own", Boegman said in a statement Friday. (more...)
Oil prices hit year low; OPEC considers output cut Oil prices hit year low; OPEC considers output cut
- November 25, 2018

The House of Saud is caught in a hard situation, with the oil producing country interested in cutting supply to increase oil prices as the decline seen in recent weeks is hurting the kingdom's coffers. Crude collapsed into a bear market this month after the US allowed some nations to continue buying Iranian crude. Cailin Birch, global commodities analyst at the Economist Intelligence Unit, said: "Oil prices" recent slide primarily reflects the weakening outlook for global oil demand. (more...)
Richard Branson’s Virgin Atlantic in takeover talks with regional airline Flybe Richard Branson’s Virgin Atlantic in takeover talks with regional airline Flybe
- November 25, 2018

On top of providing a wider passenger traffic into Virgin Atlantic's long-haul network, a takeover of Flybe would allow Virgin Atlantic to gain access to the take-off and landing slots at London Heathrow Airport reserved to domestic flight. (more...)
Samsung apologises for sickness and deaths of factory workers Samsung apologises for sickness and deaths of factory workers
- November 25, 2018

Samsung and the Supporters for the Health and Rights of People in the Semiconductor Industry (SHARPS), an advocacy group for work-related illnesses' victims, agreed in July to accept any decision made by a mediation committee. The news follows a decade of legal proceedings between Samsung and Seoul's labour welfare agency, expanding to claimants who worked at plants from 1984. (more...)
Airport 'chaos' as wild wind delays flights Airport 'chaos' as wild wind delays flights
- November 25, 2018

The Australian Bureau of Meteorology said winds would ease by November 23 evening, offering some respite to travelers and fire fighters. Melbourne Airport also reduced the number of flights allowed to arrive and depart each hour due to Sydney Airport cancellations. (more...)
Latest on E. coli oubreak from Romaine lettuce Latest on E. coli oubreak from Romaine lettuce
- November 25, 2018

In the United States, the federal Centers for Disease Control and Protection (CDC) on November 19 said consumers, restaurants, and retailers should not eat, serve or sell any romaine lettuce until federal food safety detectives get to the bottom of this outbreak. (more...)
Latest climate change report predicts dire times for economy, environment Latest climate change report predicts dire times for economy, environment
- November 24, 2018

The report, which is mandated by law, "concludes that the evidence of human-caused climate change is overwhelming and continues to strengthen, that the impacts of climate change are intensifying across the country, and that climate-related threats to Americans' physical, social, and economic well-being are rising". (more...)

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