Business


Oil climbs, but record US crude output, higher OPEC supplies drag Oil climbs, but record US crude output, higher OPEC supplies drag
- June 06, 2018

Back in April, when oil prices hit a three-and-a-half year highs, U.S. President Donald Trump slammed OPEC for manipulating oil prices in a tweet saying that oil prices were "artificially very high" and "will not be accepted". In order to deal with this situation, OPEC members will be meeting on June 22 to determine the crude oil output. "This seems to be an intervention in OPEC's supply policy.(the U.S.) walks away from the Iran (nuclear) deal, which pushes up oil prices and less ... (more...)
Comcast deal given go-ahead, Fox approved on condition of Sky News sale Comcast deal given go-ahead, Fox approved on condition of Sky News sale
- June 06, 2018

Sky welcomes today's announcements by the Secretary of State for Digital, Culture, Media and Sport (the "Secretary of State") regarding the proposed offers for Sky by Twenty-First Century Fox ("21CF") and Comcast Corporation ("Comcast"). This is Mr Murdoch's second attempt to take full ownership of Sky, after the first was abandoned following the phone-hacking saga that led to the closure of the News of the World seven years ago. (more...)
Security breach at MyHeritage website leaks details of over 92 million users Security breach at MyHeritage website leaks details of over 92 million users
- June 06, 2018

On Monday, DNA testing kit provider MyHeritage reported that over 92 million user accounts had their email addresses and hashed passwords looted in a data breach. According to MyHeritage , the breach took place on October 26, 2017, and affects users who signed up for an account through that date. MyHeritage said it believes the breach was limited to user email addresses, and that it has no reason to believe any other systems were compromised. (more...)
The Internet Wants to Solve IHOP's Upcoming Name Change to IHOb The Internet Wants to Solve IHOP's Upcoming Name Change to IHOb
- June 06, 2018

The Twitter bio for IHOP has even been changed to read, "What could the b be?" Although many people can assume the "b" will stand for breakfast, IHOP is leaving the name change ominous, asking customers, "What could it b?" Twitter users have been responding to the teaser tweet with their guess of what the "b" could stand for. (more...)
Elon Musk fends off challenge to Tesla control Elon Musk fends off challenge to Tesla control
- June 06, 2018

Tesla CEO Elon Musk has rebuffed a shareholder attempt to overhaul the electric vehicle maker's board and strip him of his role as chairman, despite worries about the company's shaky finances and inability to meet its production goals for its first mass-market sedan. (more...)
Kudlow: Trump may look to strike separate trade deals with Canada, Mexico Kudlow: Trump may look to strike separate trade deals with Canada, Mexico
- June 06, 2018

The United States, Canada and Mexico have been in months of negotiations to rework the North American Free Trade Agreement, which Trump has long criticized as having harmed the United States economically. Kudlow noted that talks to revamp NAFTA had "dragged on" so separate deals "might be able to happen more rapidly". Trudeau's government has expressed a preference for the three-country deal but has not ruled out the possibility of a two-country deal with the U.S. (more...)
Qatar Airways chief says only a man could do his job Qatar Airways chief says only a man could do his job
- June 06, 2018

That's the message Qatar Airways CEO sent this week when he suggested that only a man is capable of heading up the airline he now leads. Brushing off the suggestion that Qatar Airways lack gender diversity, Al Baker declared that a woman is not be capable of leading the airline, owing to the "challenging" nature of the job. (more...)
Fuel prices rising at fastest rate for 18 years Fuel prices rising at fastest rate for 18 years
- June 06, 2018

From midnight, a litre of petrol will cost 82 cents more while diesel is going up 85 cents. In response to the surge in domestic fuel prices , the state of Kerala cut Value Added Tax (VAT) on petrol and diesel by Rs 1 per litre last month. (more...)
Hailstorm crushes nose of American Airlines plane Hailstorm crushes nose of American Airlines plane
- June 06, 2018

He said at one point it dropped "like a rollercoaster". An American Airlines flight from San Antonio to Phoenix-bound made an emergency landing in El Paso Sunday night after the plane sustained weather damage. Another plane finished the trip to Phoenix a few hours later. In April, a window onboard Southwest Airlines Flight 1380 blew out after being damaged by debris from an explosive engine failure. (more...)
Google Won't Continue Its AI Drone Deal With Pentagon After Staff Protests Google Won't Continue Its AI Drone Deal With Pentagon After Staff Protests
- June 06, 2018

Multiple outlets report the tech company has been using AI technology to analyze drone footage for the USA military for a program called Project Maven . Maven had an initial budget of $70 million. A mass-compliant was filed requesting Google to stay away from these co-operations while around 12 employees had resigned from the tech giant, as the company didn't respond. (more...)
Eye on Trump strongholds, Mexico hits back with pork, bourbon tariffs Eye on Trump strongholds, Mexico hits back with pork, bourbon tariffs
- June 05, 2018

Mexico submits that the tariffs were not adopted in accordance with relevant WTO procedures and also violate the 1994 General Agreement on Tariffs and Trade. Most business-oriented conservatives take the same position, with varying levels of volume. Koch network groups Freedom Partners, Americans for Prosperity and the Libre Initiative made it clear in an announcement Monday that they are opposed to Trump's tariffs and that their media and PR blitz is determined to show the benefits of ... (more...)
Apple to introduce new privacy features for devices Apple to introduce new privacy features for devices
- June 05, 2018

That means comparability will be fairly widespread, for iPhones and iPads . This year, Apple is "doubling down on performance ", said SVP Craig Federighi , focusing on improvements that make devices faster - especially Apple's oldest devices. (more...)
Here's what Starbucks taught workers about bias Here's what Starbucks taught workers about bias
- June 05, 2018

In the Philadelphia incident, Rashon Nelson and Donte Robinson were asked to leave after one was denied access to the bathroom. They were arrested minutes after sitting down for an intended business meeting. "Because we want to uplift others, we exist to inspire and nurture the human spirit - one person, one cup, and one neighborhood at a time ", the company wrote of its mission at the start of the Starbucks guidebook provided to partners. (more...)
Markets are bouncing back as fears over Italy’s political crisis subside Markets are bouncing back as fears over Italy’s political crisis subside
- June 05, 2018

Although risk aversion has the ability to support gold in the short term, an appreciating dollar and expectations of higher US interest rates are likely to continue weighing heavily on the yellow metal in the medium to longer term. Wall Street opened.as traders returned to their desks after a long holiday weekend. The yield on the benchmark USA 10 year bond fell from just over 2.86% to 2.766%. (more...)
Starbucks Chairman Howard Schultz To Step Down Starbucks Chairman Howard Schultz To Step Down
- June 05, 2018

During his four decades as ceo and chairman, Schultz grew Starbucks from 11 stores to more than 28,000 stores in 77 countries, while demonstrating that a business can simultaneously deliver best-in-class financial performance and share success with its people and the communities it serves. (more...)
Apple's smart devices are about to get even smarter
- June 04, 2018

Those will include turning your phone to do not disturb in a movie theater or suggesting you call your grandmother on her birthday. iOS 12 is expected toinclude performance improvements, redesigned basic apps (like Stocks), new Animoji and a greater focus on augmented reality. (more...)
Kudlow: Don't Blame Trump as China Warns of Trade Pullback Kudlow: Don't Blame Trump as China Warns of Trade Pullback
- June 04, 2018

China's attitude towards imports has been consistent: It is willing to increase imports from all countries, including the United States, according to Xinhua. The statement was made in the light of the yet another round of US-Chinese trade talks, which began on Saturday and continued through Sunday. But Mnuchin and USA trade representative Robert Lighthizer didn't attend Sunday's meeting in Beijing . (more...)
How a Pentagon contract became an identity crisis for Google How a Pentagon contract became an identity crisis for Google
- June 04, 2018

Diane Greene , the chief executive in charge of Google's cloud businesses, told employees during a morning meeting that the company won't seek another contract for the Pentagon partnership, three sources told the tech website. Google intends to introduce new "ethical principals" next week involving its use of artificial intelligence , Gizmodo reported . Her comments about Musk surfaced just days after Eric Schmidt, the former executive chairman of Google's parent company Alphabet, ... (more...)
Another Alberta multi-million dollar lottery victor Another Alberta multi-million dollar lottery victor
- June 04, 2018

A winning LOTTO MAX ticket worth $1 million was sold in Mississauga. 6 Maxmillions prizes, worth $500,000 each, were sold in Brampton area, Richmond Hill, the Thunder Bay area, Sault Ste. The ticket was sold at Tramore Service Station, Waterford Road, Tramore, Co Waterford. The Lotto jackpot is worth a life-changing €4.5 million. Lottery players can check their numbers on OLG.ca or on the OLG Lottery App . (more...)
Here is the official petrol price for June 2018 Here is the official petrol price for June 2018
- June 04, 2018

In Kolkata , petrol is priced at Rs 80.60, diesel at Rs 71.52; Chennai (on Sunday) petrol was priced at Rs 80.94 per litre and diesel at Rs 72.82 per litre. Brent crude, a benchmark for global oil price, was trading below $77 per barrel on Monday. On a weekly basis, it appreciated by 72 paise to close at 67.06 against the U.S. (more...)
Nicaragua death toll nears 100 as Ortega vows to remain Nicaragua death toll nears 100 as Ortega vows to remain
- June 04, 2018

The bishops issued an urgent statement May 31, the morning after an especially brutal crackdown on protesters, which claimed at least 13 lives, according to media reports . Funerals took place across Nicaragua on Friday for 16 people killed in one of the bloodiest days of protest in the country where weeks of anti-government demonstrations have left more than 100 dead, reported AFP . (more...)
Jordan: thousands protest against IMF-backed austerity measures Jordan: thousands protest against IMF-backed austerity measures
- June 04, 2018

The protests gained momentum after the government announced an increase of electricity prices by 23.5 per cent and fuel derivatives between 4.5 per cent to 5.5 per cent, citing rise in prices of crude oil globally. The legislative proposal is yet to be approved by the country's parliament. Senate speaker Faisal al-Fayez there was a need for "comprehensive national dialogue" on the law, echoing an earlier call by King Abdullah. (more...)
Lunch with Warren Buffett sold at auction for $3.3 million Lunch with Warren Buffett sold at auction for $3.3 million
- June 04, 2018

The amount exceeds the $2,679,001 paid previous year but fell short of the record $3,456,789 hit in 2016. Proceeds go to the needs of the charity the Glide Foundation, which helps the homeless in San Francisco. The winning bidder may hope the lunch leads to an employment opportunity, with hedge manager Ted Weschler having secured a job at Berkshire after paying a combined $5.3m (£3.9m) to secure the 2010 and 2011 auctions. (more...)
Merkel voices support for Macron's proposed European defence force Merkel voices support for Macron's proposed European defence force
- June 04, 2018

Although Merkel's budget target falls short of the range proposed by Macron, it represents a concession of sorts to his view that excessive austerity has undermined faith in the bloc. The chancellor also said she backed an investment budget for the euro zone, which would be in the low two-digit billions of euros that would be introduced step by step and evaluated over time to address structural weaknesses of member states. (more...)
Microsoft surpasses Google in market valuation, becomes world's third-most valuable company Microsoft surpasses Google in market valuation, becomes world's third-most valuable company
- June 04, 2018

The changeover in places has only intensified the race between the four companies to become the first United States business ever to land a trillion-dollar market cap. The company has also stopped keeping Windows in the heart of everything. Office commercial products and Cloud services revenue increased 14 per cent - driven by Office 365 commercial revenue growth of 42 per cent. (more...)
Kinder Morgan injunction expanded across BC Kinder Morgan injunction expanded across BC
- June 04, 2018

According to Blaney, Canadians are wondering why Canada would be pumping oil to the States just to buy it back. She said the company couldn't call the RCMP to enforce the injunction , as the drill's site "wasn't within the definition of a Trans Mountain site". (more...)
A political stalemate ends, giving birth to a populist government in Italy A political stalemate ends, giving birth to a populist government in Italy
- June 04, 2018

On Saturday Conte attended a military parade alongside President Sergio Mattarella, marking Republic Day for the foundation of the Italian Republic in 1946. Despite the softer tone from 5-Star and hopeful remarks from Cottarelli, a top adviser to Salvini said the League was not prepared to abandon Savona, the sole obstacle to the League and 5-Star winning the president's blessing for a coalition. (more...)
Head of Brazil's State Oil Company Resigns Amid Period of Unrest Head of Brazil's State Oil Company Resigns Amid Period of Unrest
- June 04, 2018

Mr. Parente's resignation came two days after Senator Vanessa Grazziotin proposed an inquiry into the company's fuel price policies. In a statement, Petrobras said the company's board of directors was meeting on Friday to study the possibility of naming a temporary replacement. (more...)
Visa says disruption caused by hardware problem, not attack Visa says disruption caused by hardware problem, not attack
- June 04, 2018

Customers around Europe vented their frustrations on social media, with some unable to pay bills or order taxis overseas. The Irish Times reported that Irish tourists as far away as the USA were unable to access their money. A spokesperson for Visa apologised for the disruption: " Visa is now experiencing a service disruption. Our network is working normally", it said in a statement. (more...)
U.S. unemployment falls almost to 1969 levels; hiring is solid U.S. unemployment falls almost to 1969 levels; hiring is solid
- June 04, 2018

The jobless rate is now where the Fed forecast it would be by the end of this year. While lauding the employment figures, economists also wondered how far the strength in monthly payrolls gains can extend. Employers have added an average of 207,000 jobs per month so far in 2018, up from 172,000 in the same five months a year ago. We had more people coming into the labor market. (more...)

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