Business


Queen questions self-service swindle during United Kingdom supermarket visit Queen questions self-service swindle during United Kingdom supermarket visit
- May 25, 2019

During a tour of the store, Queen Elizabeth II was shown how customers can scan products with their phones, and then pay for them using a self-service register. The monarch also met Sainsbury's employees from around the country, including some with over 50 years service and others who have positively impacted their community through volunteering or fundraising. (more...)
Oil plummets, on track for biggest weekly drop in 2019 Oil plummets, on track for biggest weekly drop in 2019
- May 24, 2019

This, however, would be the market sending the wrong signal to OPEC+, because ING believes that the global oil balance will tighten further as we move into the third quarter. US crude oil inventories rose last week, hitting their highest levels since July 2017, the government's Energy Information Administration said on Wednesday. (more...)
British Steel collapses, threatening thousands of jobs | Lexington Herald Leader British Steel collapses, threatening thousands of jobs | Lexington Herald Leader
- May 24, 2019

Greybull has blamed Brexit strains for its financial collapse, while the steel sector faces other uncertainties. Steve Turner, Unite assistant general secretary said, "Despite today's announcement to place British Steel into official receivership, Unite will continue to engage all parties in the fight to secure the future of the company". (more...)
62k pounds of raw beef products recalled due to E. coli risk 62k pounds of raw beef products recalled due to E. coli risk
- May 24, 2019

Products covered by the recall carry an establishment number of "EST". These items were shipped nationwide for distribution and further processing. According to a press release , bacteria was discovered during traceback activities performed by FSIS . (more...)
Tesla could crash to $10 in 'worst-case scenario' Tesla could crash to $10 in 'worst-case scenario'
- May 24, 2019

A Morgan Stanley analyst once dubbed Tesla's " cheerleader " drastically lowered his worst-case scenario for the stock to just $10 from $97. Not much has gone right for the California automotive upstart in recent months, starting with word that first-quarter sales had fallen well short of expectations. (more...)
Mnuchin says new USA tariffs on China at least one month away Mnuchin says new USA tariffs on China at least one month away
- May 23, 2019

Trump later ordered a tariff increase on nearly all remaining imports from China worth about $300 billion. The comments are the latest sign that China has no intention of making concessions to the U.S. In a letter signed by 173 companies, including Nike and Adidas, they said the president's decision to hike import tariffs to 25 percent will disproportionately impact the working class. (more...)
RBA just hinted at likely rate cut in June RBA just hinted at likely rate cut in June
- May 23, 2019

For Australia the Bank had believed that the key unemployment rate was 5% - he now accepts that he can drive the economy harder with an associated lower unemployment rate without risking any inflation overshoot. The Bank may choose to persist with overly optimistic forecasts but will need to ease again to emphasise its inflation targeting credentials. "Over the past year, global trade has not grown at all", he said, pointing to a graph that showed growth turning negative this year. (more...)
Arm, EE and Vodafone drop Huawei after Trump ban Arm, EE and Vodafone drop Huawei after Trump ban
- May 23, 2019

Japan's Panasonic on Thursday said it would stop supplying some components to Huawei, joining a growing list of firms distancing themselves from the Chinese telecoms giant after a U.S. A senior Huawei employee said the company is planning to introduce its own operating system for its smartphones, possibly this fall, as a countermeasure to the US restrictions, according to the Chinese media. (more...)
Qualcomm Found Guilty of Antitrust Abuse Qualcomm Found Guilty of Antitrust Abuse
- May 23, 2019

The company must also license its patents to rival chip makers at fair prices and can't sign exclusive supply agreements with smartphone makers like Apple that block competitors from access to that market. The impact of the decision on Qualcomm's bottom line was reflected in an instant 12 per cent drop in its share price. "Qualcomm's licensing practices are an unreasonable restraint of trade". (more...)
Top China airlines seek damages over grounded 737 MAX Top China airlines seek damages over grounded 737 MAX
- May 23, 2019

The day before, an Ethiopian Airlines 737 MAX crashed minutes after takeoff from Addis Ababa, killing all 157 people on board, including eight from China. A spokesman for China Eastern confirmed to AFP that a dispatch by state-run Xinhua news agency saying the airline had presented Boeing with a compensation claim was correct. (more...)
What next after Google’s move to cut off Huawei? What next after Google’s move to cut off Huawei?
- May 22, 2019

Yu said the USA government move was a "big surprise for me", especially as Android is a consumer product "that has no relationship to network security issues". The United States temporarily eased restrictions on Huawei on Tuesday, granting it a license to buy USA goods until August 19, meaning that updates of Google apps like Gmail and YouTube can continue until then. (more...)
Self-driving trucks will carry mail in US for the first time Self-driving trucks will carry mail in US for the first time
- May 22, 2019

Postal Service launched a two-week test of autonomous trucks Tuesday. "This pilot is just one of many ways the Postal Service is innovating and investing in its future", the USPS said in a press release that cited the possibility of using "a future class of vehicles" to improve service, reduce emissions and save money. (more...)
EE announces date when ultrafast 5G mobile will launch in Devon
- May 22, 2019

Aberdeen, Bournemouth, Brighton, Cambridge, Dundee, Exeter, Ipswich, Norwich, Plymouth and York are on the list to get 5G coverage in 2020. EE's 5G smart plans , which will come with " swappable benefits " including exclusive add-ons for 5G customers, will offer customers between 10GB and 120GB data, with prices starting from £54 per month. (more...)
ARM Suspends Business with Huawei
- May 22, 2019

Hence, the USA trade ban covers them. The BBC today reported that ARM told employees to suspend " all active contracts, support entitlements, and any pending engagements " with Huawei because of the company's addition to a blacklist by the U.S. (more...)
Ryanair's full year profits drop by 29% Ryanair's full year profits drop by 29%
- May 22, 2019

Irish no-frills airline Ryanair on Monday warned of further profits turbulence after annual earnings slumped nearly a third, mainly on cheaper fares triggered by overcapacity in the European short-haul sector. Ryanair continues to have "utmost confidence" in Boeing 737 MAX, but is postponing the delivery of its first five MAXs at least until the winter of 2019, based on the condition that the USA manufacturer manages to gain back EASA's trust by the time. (more...)
Japan Q1 GDP Beats Expectations Despite Weak Consumer Spending Japan Q1 GDP Beats Expectations Despite Weak Consumer Spending
- May 22, 2019

The results exceed analyst expectations for a 0.2 percent contraction, as imports declined faster than exports. Japan , which now enjoys such full employment that it is importing overseas labor, still suffers from weak wage growth, and in Q1 private consumption slid 0.1%. (more...)
Huawei says existing Sri Lanka users could use Google apps, get updates Huawei says existing Sri Lanka users could use Google apps, get updates
- May 22, 2019

He claims that the move by Google to deny Huawei who has been described as a Chinese security risk as a "hammer-blow" that could spell "the beginning of the end" for Huawei. The ban means that Huawei will not be given advanced access to Google security updates, resulting in a sizeable disparity between the general release of the update and when it will be available to Huawei users. (more...)
Huawei Gets Temporary Relief From Its U.S. Ban Huawei Gets Temporary Relief From Its U.S. Ban
- May 22, 2019

The new authorisation is meant to give telecommunications providers that rely on Huawei equipment time to make other arrangements, US Secretary of Commerce Wilbur Ross said in a statement . Attacking Apple might be politically awkward for Chinese leaders who have accused Washington of mistreating Huawei. Huawei phones have been removed from the Android Q Beta page, so the company presumably has been kicked out of the Android Q early-access program for manufacturers. (more...)
New Coke, from 1985, makes comeback with 'Stranger Things' New Coke, from 1985, makes comeback with 'Stranger Things'
- May 22, 2019

There's even a whole " Stranger Things " New Coke trailer-slash-commercial starring the cast of the show, including Gaten Matarazzo , 16, an actor from Little Egg Harbor who is also a spokesman for Verizon Fios. The company has said it will produce 500,000 cans of New Coke . "In a world of shifting media consumption, we continue to challenge ourselves to find creative and meaningful ways to participate in non-advertising platforms like Netflix to engage with the millions of fans who ... (more...)
Intel, AMD, Other US Suppliers Expecting Losses From Huawei Ban Intel, AMD, Other US Suppliers Expecting Losses From Huawei Ban
- May 21, 2019

Huawei knows "that being a big telecom company, you have to have your own core technology eventually", Wong Kam Fai, a professor at the Chinese University of Hong Kong, told AFP. Google is severing ties with Chinese smartphone producer, Huawei. Citing national security, Trump has effectively banned USA companies from supplying Huawei and affiliates with the critical components that have helped it grow into the world's largest supplier of telecom networking equipment and second-biggest ... (more...)
Dressbarn announces it will close all its stores | Fort Worth Star-Telegram Dressbarn announces it will close all its stores | Fort Worth Star-Telegram
- May 21, 2019

Dressbarn joins the ever-growing list of retailers to either close or announce intentions to do so as the brand will "wind down operations" and eventually close all of its store locations. Roslyn and Elliot Jaffe opened the first Dressbarn in 1962 in Stamford, Connecticut, according to the chain's website, with Rosyln choosing the name shortly before it opened to denote fashion and value. (more...)
Jamie's Italian calls in administrators Jamie's Italian calls in administrators
- May 21, 2019

Oliver, 43, who became a well-known figure in Britain and beyond for his popular TV shows, founded his Jamie's Italian brand of high street restaurants in 2008. And we did exactly that". For the year ending 24 March 2019, full-service restaurants experienced a 6% decline in sales, while nearly five million fewer trips were made to such sites in the 12 weeks to 24 March 2019, in comparison to the same period last year. (more...)
Indian stocks, rupee rally as Modi vote win predicted Indian stocks, rupee rally as Modi vote win predicted
- May 21, 2019

Thanks to a weakened Congress, which has been hit by defections to the ruling Telangana Rashtra Samithi (TRS) and also to the BJP, the saffron party is looking to come second in at least a handful of parliamentary seats, apart from winning a few out of the total 17. (more...)
Ford sees twisting road ahead, cuts 7,000 white-collar jobs Ford sees twisting road ahead, cuts 7,000 white-collar jobs
- May 20, 2019

Throughout the summer, 300 more job cuts will take place in the USA, for a total of 800 in the redesign process. About 1,500 already have happened. Factory workers have not been affected by the restructuring thus far, as the company has retooled auto plants so they can build more popular trucks and SUVs. (more...)
Mobile and Sprint merger receives approval recommendation from the FCC Mobile and Sprint merger receives approval recommendation from the FCC
- May 20, 2019

Critics will also make the case that combining the country's No. 3 and 4 carriers will ultimately restrict competition and lead to higher prices for consumers. Selling Sprint's pre-paid carrier Boost Mobile . For the past four years, T-Mobile and Sprint have been trying to merge together. This also comes with speed requirements: the carriers have guaranteed that 90 percent of Americans will have access to mobile broadband speeds of at least 100Mbps, and 99 percent will have access to speeds ... (more...)
Thurrock Independents flock to see Nigel Farage Thurrock Independents flock to see Nigel Farage
- May 20, 2019

However, Police was concerned that protesters would buy milkshakes from a McDonald's a few hundred meters away with the intention of pouring them on the hardline Brexiteer's head. Writing on Twitter , competitor Burger King said that milkshakes would still be on the menu, adding "have fun". "We'd never endorse violence - or wasting our delicious milkshakes!" Mr Farage says Mr Banks - who is now under investigation by the National Crime Agency over the source of his funding for the ... (more...)
Exit Polls Suggest Modi Likely to be Re-Elected India's Prime Minister Exit Polls Suggest Modi Likely to be Re-Elected India's Prime Minister
- May 20, 2019

Most major exit polls, conducted by local media, put the ruling Bharatiya Janata Party ( BJP ), led by Modi, and its National Democratic Alliance ( NDA ) coalition as winning a clear majority when results are announced on May 23. Modi visited West Bengal 17 times in an effort to make inroads with his Hindu nationalist agenda, provoking sporadic violence and prompting the Election Commission to cut off campaigning there. (more...)
US says it may scale back some Huawei trade restrictions US says it may scale back some Huawei trade restrictions
- May 20, 2019

The U.S. ban on Huawei comes amid concerns over the company's links to the Chinese state. Huawei was founded in 1988 by Ren Zhengfei , 74, who had served in the Chinese military before becoming a businessman. This suspension means Huawei will lose access to updating the Android operating system on its phones soon. The lasers Huawei uses to send light signals through the fiber-optic cables in Huawei's gear are sourced from US companies like NeoPhotonics, Lumentum, and Finisar. (more...)
Elon Musk Email To Tesla Employees: Elon Musk Email To Tesla Employees: "Curb Your Spending"
- May 20, 2019

Tesla shares closed at the lowest level in nearly 2 1/2 years after Elon Musk called for a " hardcore " review of all the electric-car maker's expenses and an analyst warned of potentially severe fallout from a fatal crash involving Autopilot. (more...)
Tesla updates battery software after third Model S burns while parked Tesla updates battery software after third Model S burns while parked
- May 20, 2019

The company has joined forces with first responders and briefed them on protocols that need to be followed while dealing with any type of electric vehicle battery fires. We don't yet know the exact circumstances of those fires, but we can hazard a guess: thermal runaway, which is a chain reaction resulting in the rapid release of heat energy, hence the flames. (more...)

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