Business


Theresa May facing chaos after Brexit Secretary resigns Theresa May facing chaos after Brexit Secretary resigns
- November 16, 2018

We can and must do better than this. She was greeted by mocking laughter when she said her plan would provide for a "smooth, orderly" Brexit . Starmer wants Labour to find a mechanism by which MPs could intervene and force the prime minister to soften her position if her Brexit deal is voted down, although it is not clear what could be renegotiated with the European Union in the time left available. (more...)
$1.5 billion Mega Millions jackpot still unclaimed $1.5 billion Mega Millions jackpot still unclaimed
- November 15, 2018

Officials say the winning ticket was sold in SC. Each state can use its unclaimed lottery prizes differently, according to the Mega Millions website . "Everyone's talking about it", he said. "Take a deep breath and enjoy the moment!" the South Carolina Education Lottery tweeted at the time. The annuity, however, will get them the entire $1.537 billion jackpot in smaller payments over the next 30 years, with each being 5 percent larger than the last. (more...)
Flipkart’s Group CEO Binny Bansal steps down over serious personal misconduct Flipkart’s Group CEO Binny Bansal steps down over serious personal misconduct
- November 15, 2018

He added that he will continue to be a shareholder in the company. It did not provide details about the nature of the misconduct but said that Bansal had denied the allegations. As per reports coming in, a Flipkart employee who left the company in 2012, had launched an event management firm, and came in contact with Binny Bansal in 2016. (more...)
Menthol Cigarettes Come Under FDA Scrutiny Menthol Cigarettes Come Under FDA Scrutiny
- November 15, 2018

BAT slumped 352p to £29.63 yesterday as traders got their first chance to react to reports late on Friday night that the US Food and Drug Administration (FDA) is mulling a regulatory crackdown on menthols that comes on the heels of its plans to crackdown as on flavoured e-cigarettes. (more...)
Brace yourself for major Brexit-induced pound volatility Brace yourself for major Brexit-induced pound volatility
- November 15, 2018

Dollar Index rose to its best level in close to 17 months, last up 0.7% at 97.550. Brent had ascended to a four-year high of $86.74 early in October as the market propped for U.S sanctions on Iran, yet costs have sunk nearly 25 percent since then. (more...)
Global oil market to lapse into surplus in 2019 Global oil market to lapse into surplus in 2019
- November 15, 2018

Crude prices are influenced by several variables such as speculation on oil trades (known as futures), inventory levels, geopolitics, global economic growth and the relationship between global supply and demand. Crude oil has lost more than 25% of its value since early October in what has become one of the biggest declines since prices collapsed in 2014. Saudi Energy Minister Khalid al-Falih said on Monday OPEC agreed there was a need to cut oil supply next year by around one million barrels ... (more...)
Toyota Corolla sedan's new face teased, debuts this Thursday Toyota Corolla sedan's new face teased, debuts this Thursday
- November 15, 2018

It is still a sedan but it has a sporty look. Unlike the Yaris sedan, the upcoming Corolla will make a strong styling statement as the segment it competes in has some of the best looking cars in the market. It also remains to be seen how many of these goodies will be offered on the India-spec Corolla. It could also get a CVT automatic and manual transmission for the petrol variant and only a manual transmission for the diesel version. (more...)
Air India Drunk Pilot Sacked From Exec Position Air India Drunk Pilot Sacked From Exec Position
- November 15, 2018

A spokesperson for the Metropolitan Police confirmed a 50-year-old woman was arrested after an Air India flight had landed. When the crew told her that they will inform the police when the flight lands, she charged back at them by saying that she is not scared. (more...)
California police: Woman beat McDonald's manager over ketchup California police: Woman beat McDonald's manager over ketchup
- November 15, 2018

She was told to go around the front where she would be served. Another employee is also seen in the video trying to pull the woman off of the manager. She was seen wearing a light pink short-sleeved T-shirt and gray trousers at the time. The man, who appears to be with the female suspect, breaks up the fight and escorts her out of the restaurant. (more...)
Pink Legacy diamond sells for nearly $70 million, setting world record Pink Legacy diamond sells for nearly $70 million, setting world record
- November 15, 2018

Christie's sale kicks off two days of jewellery auctions in Geneva . The diamond was sold to United States luxury brand Harry Winston, which is owned by the Swiss Swatch group. "That is a world record per carat for a pink diamond", said Francois Curiel, head of Christie's in Europe, of the price that included all fees and commissions. (more...)
Dow plunges over 600 points Dow plunges over 600 points
- November 15, 2018

The tech stock tumble came followed an analyst report that suggested Apple significantly cut back orders from one of its suppliers. Also improving the market's direction was a rebound in technology stocks, which jumped 0.7%, to recover from a steep sell-off on Monday when Apple shares took a hit on worries about a slowdown in sales of iPhones. (more...)
City, state announce Amazon's arrival-which may trigger $3B in subsidies City, state announce Amazon's arrival-which may trigger $3B in subsidies
- November 15, 2018

Here's how it all played out. Developers whose construction of luxury condo towers in Long Island City outpaced demand also won the lottery, courtesy of Amazon. In its initial proposal, MA did not offer any incentives to Amazon beyond relatively modest existing programs available to any company that adds jobs and invests in the state. (more...)
Oil prices collapse as OPEC sees production outpacing demand Oil prices collapse as OPEC sees production outpacing demand
- November 14, 2018

A lift in United States sanctions on Iran, increased shale oil production coupled with predictions of reduced world demand for oil has kept prices in trenches. Some of the pressure on refiners is coming from weakness in the petrochemical sector, which accounts for 12 percent of global crude demand. The crude price slide accelerated this week with United States futures suffering their steepest one-day loss in more than three years. (more...)
Boeing, US regulator weigh software fix on 737 Max after crash Boeing, US regulator weigh software fix on 737 Max after crash
- November 14, 2018

MCAS intervenes at a threshold angle of attack and automatically trims nose down at a rate of 0.27 degrees per second to a maximum of 2.5 degrees. The Wall Street Journal reported on Tuesday that the Federal Aviation Administration (FAA) was reviewing details surrounding the safety data and conclusions the company previously provided to it as part of certifying 737 MAX 8 and MAX 9 models. (more...)
Oman oil minister says majority of OPEC and its allies support cut Oman oil minister says majority of OPEC and its allies support cut
- November 14, 2018

Novak showed no sign he was ready to act immediately and Vagit Alekperov, the CEO of Russia's second-largest oil producer Lukoil PJSC, said there's no need to cut output now. Any formal decision on production cuts by Opec would likely come at its next meeting, in Vienna on 6 December. Since hitting four-year highs last month, crude prices have slumped on rising production, Chinese economic growth fears, and easing concerns about the impact of sanctions on Iran. (more...)
Malaysia warns of 'domino effect' from US-China trade tensions Malaysia warns of 'domino effect' from US-China trade tensions
- November 13, 2018

The meeting was held amid warnings that the post-World War Two global order is in jeopardy and trade tensions between Washington and Beijing could trigger a "domino effect" of protectionist measures by other countries. "Free trade has, in some aspects, prevented war effectively", he said in a speech on Tuesday. The signing took place amid the 33rd ASEAN Summit and other related summits that will take place in Singapore until Thursday. (more...)
Apple suppliers fall due to weak iPhone demand Apple suppliers fall due to weak iPhone demand
- November 13, 2018

According to a report on MacRumors , the analyst has given several reasons for slashing iPhone XR's shipment forecast, including the higher price and competition from Chinese players like Huawei . The company also said it would stop providing unit sales for iPhones, iPads, and Macs in fiscal 2019, a step Nomura Instinet said raised "the specter of a sustained iPhone downturn". (more...)
Amazon picks NY, suburban Washington for new, split headquarters Amazon picks NY, suburban Washington for new, split headquarters
- November 13, 2018

The company was planning to split its second headquarters, dubbed "HQ2" , evenly between two cities, and among the finalists that Amazon was holding advanced talks with were Dallas, Long Island City in NY and Arlington near Washington, D.C., Reuters reported last week , citing sources. (more...)
Two pilots report UFO's in sky over Ireland Two pilots report UFO's in sky over Ireland
- November 13, 2018

The Irish Aviation Authority is investigating unusual sightings of bright lights and UFOs reported by three commercial aircraft pilots while in contact with Shannon Air Traffic Control last weekend. He confirmed that there were " multiple objects following the same sort of trajectory " which was all very bright. A spokesman for the Irish Aviation Authority told the Irish Times it was investigating the incident and would file a report. (more...)
Oil prices rise as Saudi Arabia signals production cut
- November 13, 2018

The world's second and third crude producers - after they were overtaken by the United States thanks to shale oil - Russian Federation and Saudi Arabia are the core of an alliance of producer nations that succeeded in solidifying oil prices after the 2014 crash. (more...)
Falih: Saudi Arabia to cut December oil output by 500000 bpd Falih: Saudi Arabia to cut December oil output by 500000 bpd
- November 12, 2018

Top OPEC member Saudi Arabia said it'll curb exports by 500,000 barrels a day next month, reasserting its role as a swing producer. During a meeting in Baghdad, Iraq and Saudi Arabia's oil ministers also discussed an electricity grid connection between the two countries to meet Iraq's power needs, he said. (more...)
Federal Reserve Opts To Leave Interest Rates Unchanged Federal Reserve Opts To Leave Interest Rates Unchanged
- November 12, 2018

The Federal Reserve voted Thursday to keep rates where they are, for now. It was the eighth hike since policymakers started to normalize monetary policy in late 2015. Fed Chairman Jerome Powell played down the debate last month over whether the Fed would ultimately raise rates above a neutral setting, suggesting it is premature because rates are still boosting growth. (more...)
Saudi Arabia in talks to cut crude output
- November 12, 2018

The meeting, which will also be attended by the oil ministers of Kuwait, Venezuela and host nation the UAE, is not due to make decisions but will most likely send signals. In a final statement, they said they had "reviewed current oil supply and demand fundamentals and noted that 2019 prospects point to higher supply growth than global requirements". (more...)
Free meals, specials offered to active, retired military on Veterans Day Free meals, specials offered to active, retired military on Veterans Day
- November 12, 2018

Margaritas is offering complimentary entrees to all veterans and active members of the military, as well as their significant others this Veterans Day . Check out some of these Veterans Day deals and discounts! On Saturday, November 11, from 11am to 2pm, veterans and active military members can receive a free $5 HOT-N-READY® Lunch Combo. (more...)
China’s imports surge 26.3 pct, exports rise 20.1 pct in October China’s imports surge 26.3 pct, exports rise 20.1 pct in October
- November 12, 2018

In U.S. dollar-denominated terms, China's exports increased 15.6 percent year on year in October, while imports were up 21.4 percent. The increases also accelerated from the 17.4-percent growth for imports seen in September and a rise of 17 percent for exports. (more...)
US to restrict e-cigarette flavours to fight teenage vaping 'epidemic' US to restrict e-cigarette flavours to fight teenage vaping 'epidemic'
- November 12, 2018

About 6.9 million adults used e-cigarettes in 2017, according to a US Centers for Disease Control and Prevention report released Thursday . The FDA gave Juul and four big tobacco companies 60 days to submit plans to curb underage use, a compliance period that is now ending. (more...)
In 5 minutes of online sale, Alibaba rakes in $3 billion In 5 minutes of online sale, Alibaba rakes in $3 billion
- November 11, 2018

Alibaba amplifies the attention with 24 hours of festivities that rotate each year through different cities in China. Last year, Alibaba racked up record-breaking sales of $25.3 billion on "Single's Day" in just 24 hours . Alibaba President Michael Evans said he was "not too concerned" about the trade fracas damping sales during the event that kicks off Sunday. To compensate, the company will take in less income from its platforms in the near term in order to retain brands and new ... (more...)
New Mazda3 and Skyactiv-X Engine Set to Debut New Mazda3 and Skyactiv-X Engine Set to Debut
- November 11, 2018

The new Mazda3 is said to have raised performance attributes, while it will also show off the next generation of the Skyactiv Vehicle Architecture - the fancy name for Mazda's platforms. More information about the fourth-generation Mazda3 is expected on 28th November, when the LA show opens to the press. In the prototypes, Mazda's engineers had to add special foam in the engine bay to silence the four-cylinder mill in the same vein as premium European automakers strive to make their ... (more...)
Govt not seeking Rs 3.6 lakh crore from RBI: DEA Secretary Govt not seeking Rs 3.6 lakh crore from RBI: DEA Secretary
- November 11, 2018

Asked about the RBI's board meeting scheduled for November 19, he said that even if the RBI Governor ( Urjit Patel ) resigns or complies with the government order of giving money from the reserves, the result will be catastrophic, and even worse than demonetisation . (more...)
Bitcoin Cash Fork Race Bitcoin Cash Fork Race
- November 11, 2018

This price gain comes in the wake of a hard fork scheduled for November 15. At the time there was intense debate among the bitcoin community on what changes needed to be made to the protocol for bitcoin to scale. Once the snapshot is taken, the fork will be implemented and the users holding BCH at this time will immediately receive an equivalent amount of BCHABC and BCHSV. (more...)

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