Business


Oil prices are falling fast. Here's why Oil prices are falling fast. Here's why
- May 30, 2018

Brent crude futures were up 21 cents, or 0.28%, at $75.51 a barrel after settling at their lowest since May 8 at $75.30. Oil edged lower on Tuesday, pressured by expectations that Saudi Arabia and Russian Federation could pump more crude to compensate for a potential supply shortfall. (more...)
Bank of Montreal, CIBC's Simplii Financial report customer data breaches Bank of Montreal, CIBC's Simplii Financial report customer data breaches
- May 30, 2018

The bank said it was contacted on Sunday by the hackers themselves, claiming to be in possession of customer data. Simplii is a low-priced online bank owned by Canadian Imperial Bank of Commerce, and was launched previous year after CIBC - which is Canada's fifth-largest bank - split from a two-decade partnership with Loblaw Cos. (more...)
Krispy Kreme Owner Bets Americans Will Eat at Pret A Manger Krispy Kreme Owner Bets Americans Will Eat at Pret A Manger
- May 29, 2018

Privately held JAB Holding Co. JAB is buying Pret from private equity firm Bridgepoint and other minority investors for an undisclosed sum. The Financial Times, which first reported the deal, said the company was valued at €1.7 billion including debt. (more...)
Europe to ban straws, cutlery and other common throwaway plastics Europe to ban straws, cutlery and other common throwaway plastics
- May 29, 2018

The proposals are aimed at outlawing many commonplace plastic items including cotton buds, balloon sticks and drink stirrers. The new rules would be applied differently for each product, aim to make it competitive for European companies to produce sustainable alternatives, and would be implemented as EU leaders work to finalize existing policies to address plastic fishing gear, which accounts for more than a quarter of beach litter across Europe. (more...)
Starbucks closing over 8,000 stores for anti-bias training Starbucks closing over 8,000 stores for anti-bias training
- May 29, 2018

Almost 175,000 employees will participate in the diversity training program - a first step, the company said , in addressing issues of racial bias among its workforce after a high-profile incident in Philadelphia last month prompted massive backlash and public outcry. (more...)
Italian president Sergio Mattarella vetoes populist choice for economy minister
- May 29, 2018

Denying the populist coalition of the hard-left Five Star Movement and the League its chance to form a government despite their majority in parliament tested the powers of Italy's president. Dubbed "Mr Scissors", 64-year-old Mr Cottarelli worked at the International Monetary Fund from 2008 to 2013 and is known for making cuts to public spending in Italy . (more...)
Crude oil prices, dollar rates causing fuel price hike: Dharmendra Pradhan Crude oil prices, dollar rates causing fuel price hike: Dharmendra Pradhan
- May 29, 2018

In Mumbai, along with Delhi and Chennai, prices of the fuel have already touched all-time high levels and are making a record every single day. Petrol prices were hiked by 15 paise per litre and diesel by 16 paise a litre. RAC fuel spokesman Simon Williams said: "Supermarkets are highly influential in the price charged at pumps across the United Kingdom. they sell 45 per cent of all fuel sold. (more...)
Oil battered anew on concerns about Russia, OPEC supply rise Oil battered anew on concerns about Russia, OPEC supply rise
- May 29, 2018

But prices have soared since the start of the cuts past year, with Brent breaking through $80 per barrel earlier in May, triggering concerns that high prices would crimp economic growth and stoke inflation. The regulation concerns significantly limiting the sulfur content in the fuel that ships use, in a bid to curb emissions from the shipping industry. (more...)
Reboot routers to stop malware attack Reboot routers to stop malware attack
- May 29, 2018

To combat the malware, the Federal Bureau of Investigation released a public service announcement asking homes and businesses to reset their routers. The FBI urged people to reboot their devices to temporarily disrupt the malware and help identify infected devices. The size and scope of the infrastructure impacted by VPNFilter malware is significant. (more...)
Doug Ford involved in sale of fake Tory memberships in 2016: Liberals Doug Ford involved in sale of fake Tory memberships in 2016: Liberals
- May 29, 2018

Ontario PC Leader Doug Ford denied paying for party memberships during a campaign stop in Tillsonburg. "The appeal was totally dismissed", Ford said "This is the Liberals two weeks before an election trying to change the channel on their mismanagement, scandal and waste". (more...)
Russia's Novak: return to Oct'16 oil output levels possible Russia's Novak: return to Oct'16 oil output levels possible
- May 28, 2018

The increase in supply would likely start in the July-September quarter this year. Both men said the size of the boost was still subject to negotiation. US energy companies added 15 rigs looking for new oil in the week ending May 25, bringing the rig count to 859, its highest since 2015, in a strong indication that American crude production will continue to rise. (more...)
'The Expanse' Renewed for Season 4, Moving to Amazon 'The Expanse' Renewed for Season 4, Moving to Amazon
- May 28, 2018

Its third season is now airing Wednesdays at 9 p.m. on Space . During dinner, ten minutes ago, I just got word that The Expanse is saved. The show's Amazon pickup had been rumored - Bezos is reportedly a big fan - but now it's official. (more...)
Gas prices nearing $3 gallon nationally Gas prices nearing $3 gallon nationally
- May 28, 2018

State officials say a year ago at this time , more than 12,000 tickets were issued, and 237 people were arrested for drunk driving. Speeding on the highway can be like adding 18 cents to the price of a gallon of gas, Sinclair said. Some of the people we spoke with say they're ready to get the weekend started. "Since Trump has taken the wheel, he's driven gas prices in one direction-straight up", Wyden said in a statement issued Thursday before the holiday. (more...)
NAB online banking suffers nation-wide outage NAB online banking suffers nation-wide outage
- May 28, 2018

A spokesman said the bank's systems had been restored about four hours after they crashed and customers should be able to access their accounts again. Of the Twitter speculation that inevitably followed the outage, perhaps the most cogent suggestion for the chain of events came from Conor Stokes, who suggested: "I imagine this scenario: 1) the main online transaction processing server fails somehow 2) fail over to the hot replica doesn't work 3) your phone system goes down because it queries ... (more...)
CP Rail union formally serves strike notice CP Rail union formally serves strike notice
- May 28, 2018

More than 3,000 Canadian Pacific Railway workers have categorically rejected the latest contract offer put forward, the unions says. The Teamsters Canada rail Conference (TCRC) and the Council of network no. "I think with past history it's hard to be optimistic, but stranger things have happened", Lewis said in an interview. In its own statement , CP says it has "commenced its work stoppage contingency plan" and will work toward a safe wind-down of operations. (more...)
Unruly passenger arrested after allegedly launching midair tirade when denied more drinks Unruly passenger arrested after allegedly launching midair tirade when denied more drinks
- May 28, 2018

He added: "the flight attendants had been very skilled and dealt with a foul scenario the most effective they may". The videos show the train wreck unfold as a drunken Jason Felix argues with the flight attendant and then goes on to rain blows and spit blood on a fellow passenger during the flight. (more...)
Centre working on long-term solution to fuel prices: Dharmendra Pradhan Centre working on long-term solution to fuel prices: Dharmendra Pradhan
- May 28, 2018

All India Petroleum Dealers Association president Ajay Bansal on Tuesday said that they can only control the rising fuel price by reducing VAT of state and central taxes. We are in discussions with them", said a second government official. Since the Petroleum Ministry is in the hand of Dhramendra Pradhan who has been the strongest critic of Chief Minister Naveen Patnaik, the BJD has threatened an agitation across the State, aiming to kill two birds with one stone. (more...)
USA team heading to Singapore to work on summit USA team heading to Singapore to work on summit
- May 27, 2018

U.S. President Donald Trump took to Twitter this morning to state that there is absolutely "ZERO disagreement within the Trump administration on how to deal with North Korea....and if there was, it wouldn't matter". "We even inwardly hoped that what is called "Trump formula" would help clear both sides of their worries and comply with the requirements of our side and would be a wise way of substantial effect for settling the issue", he said. (more...)
Saudi Arabia, Russia to discuss rise in oil output Saudi Arabia, Russia to discuss rise in oil output
- May 27, 2018

Petersburg at an economic forum that is expected to be attended by Saudi Energy Minister Khalid al-Falih, said: "We have a common position". Nur Bekri, administrator of China's National Energy Administration, told Falih he hoped Saudi Arabia "can take further substantial actions to guarantee adequate supply" in the crude oil market, the Saudi Energy Ministry statement said. (more...)
Truckers' strike leads to fuel shortages in Brazil Truckers' strike leads to fuel shortages in Brazil
- May 27, 2018

Brazilian airport infrastructure company Infraero said that plane fuel deposit had run out at some airports, and was merely available for 12 hours to 18 hours at some others. Truckers complain that rising diesel prices have cut deeply into their income and are demanding relief from the government. Economists say there is no easy way to solve the impasse, as rising world oil prices leave the government little room to manoeuvr. (more...)
Record $106M Lotto Max in prizes up for grabs on Friday Record $106M Lotto Max in prizes up for grabs on Friday
- May 27, 2018

Two Encore tickets, worth $100,000 each, were sold in Markham and the North Bay area. She said the odds for the jackpot prize are 1 in 28.6 million, but there is still a 1 in 6.6 chance for any prize. If you don't win the $60 million jackpot, you might not be completely out of luck - if nobody wins the big draw, it gets carried over to the next lottery. (more...)
Oil Prices Fall as Russia Warns of Gradual Output Increase
- May 27, 2018

Crude exports from Iran could drop by 300,000 barrels per day (bpd) to 1 million barrels bpd as a result of USA sanctions, according to BP. That appears to be changing, with the Aramco listing delayed until 2019 and Brent crude flirting with the kingdom's desired price of about $80 for most of this month. (more...)
Uber's Self-Driving Car in Fatal Crash Had Emergency Braking Disabled Uber's Self-Driving Car in Fatal Crash Had Emergency Braking Disabled
- May 27, 2018

The report surmised that all of these functions are disabled when the test vehicle is operated in computer control but are operational when the vehicle is operated in manual mode. The report also said that Herzberg tested positive for methamphetamine and marijuana and only looked in the direction of the vehicle right before impact. (more...)
Congress mounts attack on BJP ahead of PM Modi’s Odisha visit Congress mounts attack on BJP ahead of PM Modi’s Odisha visit
- May 27, 2018

Quoting facts and figures and comparing numbers, he said his government's performances on all fronts have been "noteworthy" and the same have been possible only because his governance has been "committed" and "not confused". The PM sought to project it as a battle between his commitment for the country versus a bunch of "corrupt and dynastic opposition leaders". Modi claimed that the government even seized properties over Rs 35,000 crore after the Benami Properties Bill was passed by the ... (more...)
Plans to tackle Northern rail issues top priority Plans to tackle Northern rail issues top priority
- May 27, 2018

It has been hard for many of our customers, in particular on a number of routes around north Manchester extending up to Blackpool, and we are very sorry for this. Introducing new services, providing passengers with faster journeys and delivering more seats will be part of this essential transformation - but the level of disruption that passengers have experienced in the north is unacceptable. (more...)
Elon Musk may have violated U.S. labor laws during tweet storm Elon Musk may have violated U.S. labor laws during tweet storm
- May 26, 2018

Hawkins. "The holier-than-thou hypocrisy of big media companies who lay claim to the truth but publish only enough to sugarcoat the lie, is why the public no longer respects them." Furious over the bad press his electric auto manufacturing plant has received, Tesla CEO Elon Musk on Wednesday night threatened to start a Yelp-like service for people to rate journalists and editors on credibility. (more...)
Service dog gives birth to 8 puppies at Tampa Airport gate Service dog gives birth to 8 puppies at Tampa Airport gate
- May 26, 2018

Airline passengers were treated to a special delivery at Tampa International Airport on Friday. Her name is Ellie, and she caused quite a stir on the concourse today as she unexpectedly went into labor. She said they knew Eleanor Rigby was pregnant, but believed the excitement of being in the airport around so many new people may have triggered the early birth. (more...)
Trump says 'productive' talks held on reinstating N Korea summit Trump says 'productive' talks held on reinstating N Korea summit
- May 26, 2018

The statement by Vice Foreign Minister Kim Kye Gwan , a longtime nuclear negotiator and senior diplomat, which said the North is "willing to give the U.S. What were Mr Trump's latest comments? They announced they would be holding a candlelit vigil Friday evening in response to Trump canceling the summit. (more...)
Deutsche Bank looks to cut 10,000 jobs to reduce costs Deutsche Bank looks to cut 10,000 jobs to reduce costs
- May 26, 2018

The ripples of the company's restructuring plan are already being felt across the U.S. where it has made a decision to shut Houston investment banking division and has said it would move from its NY premises to a smaller area. Following the error, Deutsche Bank designed an enhanced "bear trap" system, whereby all payments over a certain size were subjected to increased scrutiny, according to the person. (more...)
Fiat Chrysler warns 5.3M owners: Don't use the cruise Fiat Chrysler warns 5.3M owners: Don't use the cruise
- May 26, 2018

The recall includes 15 Jeep, Dodge, Chrysler and Ram models from six model years with gasoline engines and automatic transmissions. The company said it is recalling an unspecified number of additional vehicles in Canada, Mexico and other markets, and recalling some Fiat Fremont vehicles built on the same platform of the Dodge Journey. (more...)

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