Business


SoftBank Will Invest $2.25 Billion in GM's Self-Driving Car Unit Cruise SoftBank Will Invest $2.25 Billion in GM's Self-Driving Car Unit Cruise
- June 02, 2018

Ronen soft-pedaled a related question about whether SoftBank intends to consolidate its massive investments in some of the world's largest ride services companies, including Uber , Didi, Ola and Grab, saying such a decision would be up to each company. (more...)
Warren Buffett tried to invest in this tech giant but talks failed Warren Buffett tried to invest in this tech giant but talks failed
- June 02, 2018

Buffet took time to note that much of the discussion surrounding his potential deal with Uber is rife with disinformation. A spokesman for Uber declined to comment. "I'm a great admirer of [Uber CEO Dara Khosrowshahi]", Buffett said. Khosrowshahi confirmed that Uber remains on course to IPO in 2019. "Like Warren said, we did have discussions", Khosrowshahi said. (more...)
Judge dismisses taxi driver lawsuit over Uber Judge dismisses taxi driver lawsuit over Uber
- June 02, 2018

Herrera says that California is reshaping how the term "employee" is defined, and that regulators will ensure that companies like Uber and Lyft provide eligible workers with necessary benefits. About two-thirds of respondents said driving for Uber or Lyft was their main source of income. However, a decision made last month by the California Supreme Court makes it harder for employers to classify their workers as independent contractors. (more...)
Italy's populist coalition takes 2nd stab at forming government Italy's populist coalition takes 2nd stab at forming government
- June 02, 2018

The new government is expected to take a far more antagonistic stance against Brussels than the previous government, headed by the centre-left Democratic party. His first attempt to assemble an M5S-League coalition government collapsed on Sunday. "The immigration question is still hot, so I will ask all who are concerned with it how we can improve it", he said. (more...)
Trump appears to comment on jobs report before its official release
- June 02, 2018

The Bureau of Labor Statistics announced at 8.30am that the United States had added 223,000 new jobs in May as the unemployment rate slid t0 3.8%, its lowest level since April 2000 and one of the lowest levels since after the second world war. (more...)
US imposing steel and aluminium tariffs on Canada, Mexico US imposing steel and aluminium tariffs on Canada, Mexico
- June 01, 2018

Trump had offered permanent exemption from the steel and aluminum tariffs if they agreed to US demands on NAFTA. The list includes items such as whiskey, orange juice, maple syrup, ketchup, pizza, playing cards, mayonnaise and sleeping bags. (more...)
Bank of Canada holds key interest rate at 1.25% Bank of Canada holds key interest rate at 1.25%
- June 01, 2018

Observers noted the tone of the BoC's statement was more hawkish than previous announcements, including its omission of the line "some monetary policy accommodation will still be needed to keep inflation on target" and the word "cautious" in reference to future policy announcements. (more...)
Sheffield loses out to Leeds and Manchester in Channel 4 headquarters shortlist Sheffield loses out to Leeds and Manchester in Channel 4 headquarters shortlist
- June 01, 2018

But a spokesman for those involved said the setback would not stop the city striving for a greater presence on the national media stage and more regional investment from big players. Channel 4 said it will move to its new multi-site operating model in 2019. Mayor of Liverpool Joe Anderson and the Liverpool City Region Metro Mayor Steve Rotheram are jointly leading the city's bid and have stated "Channel 4 would find a soulmate in Liverpool " adding that a move would breathe new energy ... (more...)
Chick-fil-A in Sacramento Set to Pay $17 Per Hour Chick-fil-A in Sacramento Set to Pay $17 Per Hour
- June 01, 2018

In California, the minimum wage is now $11 for employers with 26 or more workers, and will go up $1 a year until 2022. "What we are going to be looking for is people trying to raise families", Mason said . Still, despite the high wage, it may not be enough for all California residents. The tight labor market has also secured higher wages for overtime workers and high-paying, coveted white-collar jobs for American teenagers. (more...)
Trump attacks Canada after Trudeau's trade war slap
- June 01, 2018

Trudeau said he could not accept a five-year sunset clause that Vice President Mike Pence demanded in a phone call to keep the North American Free Trade Agreement alive. That entails a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports for the impacted allied nations. Canadian officials said they consider their tariffs entirely reciprocal to the Trump administration's actions. (more...)
Trade tariffs: United Kingdom must stand up to 'bully' Trump - Labour Trade tariffs: United Kingdom must stand up to 'bully' Trump - Labour
- June 01, 2018

Macron warned that " economic nationalism leads to war ". "The steel that doesn't go to the USA has to go somewhere, and it won't just happen equally around the world", Gareth Stace, director of UK Steel, said. In a sternly-worded statement , he added that the European Union would "not negotiate under threat". President Donald Trump's administration has threatened to impose tariffs on vehicle imports, is engaged in negotiations with China to reduce America's yawning trade deficit ... (more...)
Trump flouts federal rule with tweet touting job numbers
- June 01, 2018

The May jobs report was in fact a good one for a president who likes to brag about the strong jobs market. White House officials did not immediately respond to a request for comment about Trump's tweet . There are government procedures for officials who handle undisclosed numbers that require a delay of commenting until one hour after they're released. (more...)
Korea's economic growth forecast at 3 pct. in 2018 Korea's economic growth forecast at 3 pct. in 2018
- June 01, 2018

The OECD prediction of 3.6 percent is also the same as the result of a poll of local financial operators, gathered by the Central Bank in early May. Global economy is at the phase of strong growth driven by a rebound in trade, higher investment and buoyant job creation. (more...)
Markets breathe easier as Italy government sworn in Markets breathe easier as Italy government sworn in
- June 01, 2018

In a last-minute shuffle of cabinet posts aimed at appeasing Mattarella, Conte remained but an 81-year-old euro-skeptic economist, Paolo Savona , was shunted from the economy minister's post to a European affairs position. Though investors were relieved to avoid repeat elections, which they feared could have become a de facto referendum on the euro, they are now likely to refocus on the big spending plans of the League and 5-Star, which would add to its debts. (more...)
Deutsche Bank CEO Says Staff Are ‘Sick and Tired’ of Bad News
- June 01, 2018

That's exactly how I feel. "But there's no reason for us to be discouraged", he added. Deutsche Bank's US business was put on a Federal Reserve list of problem banks and added to a group of troubled lenders monitored by the country's deposit insurance regulator, according to a person familiar with the matter, compounding the challenges for its new Chief Executive Officer Christian Sewing. (more...)
Indian Economy Grows 7.7% in March Quarter Indian Economy Grows 7.7% in March Quarter
- June 01, 2018

According to CSO's second advance estimates, for the entire FY18, the GDP growth was expected to be 6.6%. With GDP data behind, analysts will now watch the Reserve Bank of India 's next bi-monthly policy for cue. "This is likely to be on account of government investments as the private corporate sector is still de-leveraging and faces capacity overhang", he said, adding that even as the GDP growth for FY18 picked up to 6.7 per cent, private consumption growth continues to trail GDP growth. (more...)
Australia floats shake-up of $2 trillion pension system, 'zombie' insurance Australia floats shake-up of $2 trillion pension system, 'zombie' insurance
- June 01, 2018

Industry Super Australia welcomes the central findings of the Productivity Commission review into superannuation , that industry super funds and other not for profit funds are the best performing sector. "Fixing these twin problems of entrenched underperformance and multiple accounts would lift retirement balances for members across the board", said Ms Chester. (more...)
Stocks, the euro and Italian bonds gain for a second consecutive day Stocks, the euro and Italian bonds gain for a second consecutive day
- June 01, 2018

The moves meant Milan's bourse was 0.9% higher, Britain's FTSE and France's CAC added 0.2%-0.4% though Germany's DAX stalled after a report that Donald Trump aimed to push German auto makers out of the US. "We have about 25 percent in Asia", said Jake Robbins, a global equities fund manager at Premier Asset Management. The dollar slipped and oil rose. (more...)
China slams USA trade announcement & says ready to fight China slams USA trade announcement & says ready to fight
- June 01, 2018

In order to protect its national security, the United States administration will also implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology. (more...)
U.S. imposes steel and aluminium tariffs on EU, Canada and Mexico U.S. imposes steel and aluminium tariffs on EU, Canada and Mexico
- June 01, 2018

The President's decision to pursue his "America First" programme will raise concerns about deteriorating transatlantic relations. The head of the Aluminum Association of Canada says the 10 per cent tariffs to be imposed Friday on his industry will cause the most harm to Americans who will face higher prices for goods made from the metals, but could also damage smaller Canadian suppliers. (more...)
Turkey central bank says to return to single rate, lira rallies Turkey central bank says to return to single rate, lira rallies
- June 01, 2018

Opposition newspaper Cumhuriyet presents another poll according to which those favouring Erdogan will be 43,5% while 22,2% will vote for Muharrem İnce. "It is opening the door to another tightening, another hike in interest rates in the coming weeks if there is a need to do it", he said. "We are supporting our central bank with all our might". (more...)
Starbucks shuts 8000 US stores for racial bias training Starbucks shuts 8000 US stores for racial bias training
- June 01, 2018

They also need to step up and perhaps do something like that". Starbucks' top officials called last month's arrests of Rashon Nelson and Donte Robinson at a downtown Philadelphia store " reprehensible ", apologized to them and vowed to turn their ordeal into a learning experience for all its employees. (more...)
Waymo buys up to 62,000 Chrysler minivans to expand self-driving fleet Waymo buys up to 62,000 Chrysler minivans to expand self-driving fleet
- June 01, 2018

FCA said in a statement that it and Waymo are "beginning discussions about the use of Waymo self-driving technology, including potentially through licensing, in a FCA-manufactured vehicle" available to buyers. Waymo has also applied for driverless testing in California. For Waymo, the Pacifica Hybrid's large size, advanced technology and economical operation have proven beneficial for the development of their planned ride-sharing service. (more...)
Steel industry braces for United States tariffs on European exports Steel industry braces for United States tariffs on European exports
- June 01, 2018

France's President Emmanuel Macron slammed the U.S. move to impose tariffs on steel and aluminum imports from Canada , Mexico and the European Union , calling the decision "unlawful" and a "mistake". justification "frankly absurd". Beyond semantics, Alden said the decision to impose tariffs would cause major economic disruptions across Europe and North America. (more...)
Italy's populist parties say 'conditions met' for government Italy's populist parties say 'conditions met' for government
- June 01, 2018

As a result, it was hard to see how the government could function. The ratings agency said it was putting Intesa Sanpaolo, UniCredit and Mediobanca under surveillance after already placing Italy's Baa2 rating on review for a possible downgrade over the crisis. (more...)
Italian turmoil hits global markets, sending stocks plunging Italian turmoil hits global markets, sending stocks plunging
- May 31, 2018

Banks rose along with bond yields Wednesday after sustaining big losses a day ago. Shares of large U.S. banks were also pressured by downbeat guidance from JPMorgan Chase and Morgan Stanley. Interest rates rose and bank stocks recovered some of their losses from the previous day. Gold rose 0.2 percent to $1,301.50 an ounce. The Dow is down 357.77 points, or 1.4 per cent. (more...)
Banking services hit as PSU staff go on 2-day strike Banking services hit as PSU staff go on 2-day strike
- May 31, 2018

Automated teller machines (ATM) may also take a hit. Deposit in branches, fixed deposit renewal, government treasury operation, and money market operation will bear the impact of the strike . The Chief Labour Commissioner (CLC) supported the issues and asked the Indian Banks Association (IBA) to respond positively. He had also said that officers and employees have to be paid for hard work and not based on profit. (more...)
US slams EU, Canada and Mexico with steel, aluminum tariffs US slams EU, Canada and Mexico with steel, aluminum tariffs
- May 31, 2018

The US war on the European vehicle industry seems to be ready to worsen, as a bombshell report published earlier today by a German magazine announced Mr Trump wants to ban German cars from the US. But he said those talks were taking longer that "we had hoped". "This will only lead to the victory of those who want less growth, those who don't think we can develop our economies across the world". (more...)
Singapore Airlines announces launch date for NY flights Singapore Airlines announces launch date for NY flights
- May 31, 2018

A variant of the A350 XWB, the aircraft is specially designed for ultra-long-haul flights ("ULR" stands for "Ultra Long Range"), its extra fuel capacity giving it a maximum range of 19 hours and 9,700 nautical miles (11,163 miles). The new Airbus range features higher ceilings, larger windows and better air quality, said SIA. Changi Airport Group (CAG) welcomed this announcement as well on Wednesday, noting that the new service is Southeast Asia's only non-stop connection to the North ... (more...)
Hospital Begins Treating Crypto Trading Addiction Hospital Begins Treating Crypto Trading Addiction
- May 31, 2018

If you believe you may be suffering from an addiction to cryptocurrencies or an addiction to anything else, you can find Caste Craig's website and helplines here . Research shows that Cryptocurrency traders are prone to Addiction when done fervelently by always watching the volatile market and not even thinking of backing out when lots of money has gone down the drain, this is clearly a sign of been Addicted. (more...)

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