Business


United States and Canadian trade balance data coming up United States and Canadian trade balance data coming up
- June 08, 2018

Canada's trade deficit with countries other than the United States narrowed to $5.5 billion in April compared with $6.0 billion in March. And the trade balance with Canada fell back into deficit at -$0.8 billion versus the prior $0.3 billion surplus. (more...)
NAR: Apple drops iPhone parts orders by 20%; supplier stocks dip NAR: Apple drops iPhone parts orders by 20%; supplier stocks dip
- June 08, 2018

Based on two industry sources, Nikkei via Reuters stated that Apple is expecting 80 million of the upcoming iPhones to be shipped this year and while those are a lot of shipments, that is 20 million less than the shipments planned last year during the same time period. (more...)
Trump attacks European Union and Canada on trade ahead of G7 summit Trump attacks European Union and Canada on trade ahead of G7 summit
- June 08, 2018

Donald Trump has threatened to escalate a global trade war on the European Union and Canada , hours before he meets their leaders at the G7 summit in Quebec. Much of his fellow members' anger stems from Trump's recent imposition of tariffs on imported steel and aluminum, but relations had already been soured by the USA pullout from an global climate accord and a deal created to contain Iran's nuclear program. (more...)
Google: Our AI won't be a weapon Google: Our AI won't be a weapon
- June 08, 2018

Google reportedly said the wording changed because the company can't control all uses of its AI technology. "We want to be clear that while we are not developing AI for use in weapons, we will continue our work with governments and the military in many other areas like cybersecurity, training, military recruitment, veterans' healthcare, and search and rescue", Pichai noted . (more...)
Coinbase Expands With Deal for Broker-Dealer Keystone Capital Coinbase Expands With Deal for Broker-Dealer Keystone Capital
- June 08, 2018

Details of Coinbase's licensure application process were laid out in a blog post entitled "Our path to listing SEC-regulated crypto securities ", Coinbase explained that it's now waiting on approval from the US Securities and Exchange Commission (SEC) and FINRA for several forms of licensure: "a broker-dealer license, and alternative trading system license, and a registered investment advisor license". (more...)
Kwabena Yeboah Appointed Ghana FA Boss Kwabena Yeboah Appointed Ghana FA Boss
- June 08, 2018

The GFA said it would cooperate with any investigation. The GFA President Mr Kwesi Nyantakyi himself accepted a bribe of $65,000 from undercover journalists who posed as investors who wanted to sponsor the Ghana league and wanted government contracts. (more...)
Irish PM says time-limited Brexit backstop would not be acceptable Irish PM says time-limited Brexit backstop would not be acceptable
- June 08, 2018

The "backstop" plan is opposed by Brexiteers because it commits the whole of the United Kingdom to elements of the customs union if London and Brussels can not agree on a deal on border controls for goods. Brexiteers are concerned that if the United Kingdom is tied into an open-ended customs arrangement with the EU it will prevent it from developing its own trade policy and the United Kingdom would remain under the jurisdiction of the European Court of Justice. (more...)
Qantas plans to change Taiwan website reference, but says needs time Qantas plans to change Taiwan website reference, but says needs time
- June 08, 2018

Hong Kong and Macau are special administrative regions of China . "This is an objective fact and a matter of global consensus", Chinese Foreign Ministry spokesperson Hua Chunying said at a daily news briefing, adding that requests to change names did not amount to political pressure. (more...)
The flying vehicle has arrived The flying vehicle has arrived
- June 08, 2018

The group, named for the North Carolina town in which the Wright Brothers first took flight, previously showed off an all-electric autonomous flying taxi called the Cora . A company in Las Vegas is hoping to make the flying auto a product of the future. "The joystick is so intuitive, but it's not the most comfortable thing I've ever sat in", she said. (more...)
Ex-Cambridge Analytica boss admits getting Facebook data Ex-Cambridge Analytica boss admits getting Facebook data
- June 08, 2018

Alexander Nix acknowledged today that he should have been clearer when asked at an earlier hearing whether his firm had Facebook data through Global Science Research, a company set up by Cambridge University academic Aleksandr Kogan. "The Channel 4 News footage also shows that the suggestions to entrap politicians with bribes and honeytraps were not solicited by our reporter but were both raised first by Mr Nix and Mr Turnbull", said C4N. (more...)
More U.S. job openings reported than unemployed Americans More U.S. job openings reported than unemployed Americans
- June 08, 2018

Trump. Vacancies rose to a fresh record of 6.7 million in April , according to the Job Openings and Labor Turnover Survey, or JOLTS, released Tuesday, June 5, by the Labor Department. Hourly pay rose 2.8 percent in May for all workers, excluding managers, compared with a year earlier. That may indicate that employers aren't as desperate to hire as the robust number of job openings would suggest. (more...)
EU Commission Endorses New Duties on US Imports Effective From July EU Commission Endorses New Duties on US Imports Effective From July
- June 08, 2018

As a result, European Union producers now have to put up with a 25-percent tariff on steel exports and a tariff of 10 percent on aluminum shipments to the United States . The EU challenged the tariffs at the WTO on Friday. "It's hard to say what President Trump will do next, but this is our response". "It is a measured and proportionate response to the unilateral and illegal decision taken by the United States". (more...)
Trump, Trudeau tension over trade, tariffs at G7 meeting in Canada
- June 08, 2018

The US measures have resulted in official complaints to the World Trade Organisation by those targeted, but such disputes have a habit of dragging on for months if not years. French President Emmanuel Macron has commented on the United States decision to remove an exemption on 25 percent tariffs for steel and 10 percent for aluminum from Canada, Mexico, and the European Union due to the national security threat posed by the imports of these metals. (more...)
Tesla Model X Accelerated Toward Barrier Before Fatal Crash Tesla Model X Accelerated Toward Barrier Before Fatal Crash
- June 08, 2018

In fact, the auto had not reminded Huang to do so for 15 minutes before the crash. At 7 seconds, the Model X began moving left while still following a lead vehicle. The San Mateo Fire Department extinguished the fire. The logo on a 2018 Tesla Model 3 electric vehicle is shown in Cardiff, California, U.S., in this picture taken June 1, 2018. (more...)
Trustees report warns Medicare finances worsening Trustees report warns Medicare finances worsening
- June 07, 2018

The hospital trust fund for Medicare , the federal health care program relied on by tens of millions of older Americans and many who are disabled, is expected to run out of money by 2026, three years earlier than expected, a new federal report said Tuesday. (more...)
Disruption updates: Burnham calls for compensation, MPs write to Grayling Disruption updates: Burnham calls for compensation, MPs write to Grayling
- June 07, 2018

Tim Loughton, MP for East Worthing and Shoreham, said: "I am sure that I speak on behalf of thousands of commuters in Sussex when I say that this must be the end of the line for the GTR franchise". This is the most since Arriva Rail North took over the franchise in April 2016. According to the trains.im website, the number of Northern trains either cancelled or more than 30 minutes late stood at 7% by 12.30pm. (more...)
Canada, France forge united front ahead of G7 summit with Trump Canada, France forge united front ahead of G7 summit with Trump
- June 07, 2018

Mexico plans to tax about $3 billion worth of US goods, including whiskey, cheese and pork. In Washington , Trump economic advisor Larry Kudlow told reporters that Trump would press ahead with global tariffs on steel, and allies including Canada and the European Union should not expect exemptions. (more...)
Ethiopian government set to finally end state of emergency Ethiopian government set to finally end state of emergency
- June 07, 2018

But the neighbours were soon at war over the demarcation of their shared border, a conflict that would leave 80,000 people dead and degenerate into a stalemate after the impasse over the United Nations ruling. The Ethiopian Peoples' Revolutionary Democratic Front (EPRDF) has chose to fully implement the Algiers accord and the decision of the boundary commission established to demarcate the border between Ethiopia and Eritrea. (more...)
Heinz is planning to rename their Salad Cream and people aren't happy Heinz is planning to rename their Salad Cream and people aren't happy
- June 07, 2018

Anyway, apparently this change is for real and important people at Heinz are examining mocked-up "sandwich cream" logos right now, so if you don't want to see another bit of Britain crumble to millennial homogenisation where names of products also have to say what they do lest people hurt or confuse themselves, get your petition underway. (more...)
Lord & Taylor's Fifth Avenue store to close after 104 years Lord & Taylor's Fifth Avenue store to close after 104 years
- June 07, 2018

This customer-focused mindset will dictate how we think about key functions of the business, and I see opportunity to dramatically improve our marketing and digital operations while also refining company wide processes that impact our end to end customer experience. (more...)
David Koch to retire from Koch Industries due to poor health: memo David Koch to retire from Koch Industries due to poor health: memo
- June 07, 2018

The 78-year-old NY resident is suffering from deteriorating health, according to a letter that older brother Charles Koch sent to company officials Tuesday morning. David Koch had served as an executive vice president and a board member of Koch Industries, a Wichita, Kansas-based conglomerate with interests ranging from oil and ranching to farming and the manufacturing of electrical components. (more...)
Rodents scurry among buns at Burger King in Delaware Rodents scurry among buns at Burger King in Delaware
- June 07, 2018

Dr. Karyl Rattay of the Division of Public Health, sent a June 1 letter to the restaurant franchise owner, Rackson Restaurants LLC, ordering the immediate cease and desist of business operations due to the " imminent health hazard " and "rodent infestation" at the fast food restaurant. (more...)
ZTE reportedly signs deal that would end export ban ZTE reportedly signs deal that would end export ban
- June 07, 2018

Under the preliminary terms, ZTE will pay $1 billion in fines and place $400 million in escrow to guard against future violations. The U.S. government is also reportedly planning to include the previous $361 million fine that ZTE paid as part of an earlier agreement in 2017 in this new settlement. (more...)
ZTE Said to Have Signed Preliminary Agreement to Lift US Ban
- June 07, 2018

Moreover, the U.S. Commerce Department is expected to count the $361 million ZTE paid past year as part of a settlement agreement, which will allow the government to claim no less than $1.7 billion in penalties. In addition to the money it will have to pay, Reuters says ZTE must replace its current board members and executive team within 30 days as part of the agreement, and also allow for unlimited access to its sites to prove that the hardware and software made in the US are being used ... (more...)
Trump calls Sen. Bob Corker over trade spat Trump calls Sen. Bob Corker over trade spat
- June 07, 2018

Sen. Bob Corker said Tuesday that "a large number' of Senate Republicans are supporting his call for legislation challenging President Trump's decision to impose steep tariffs on US trading partners". Corker's effort has been bolstered by another strong-willed supporter: Pennsylvania GOP Sen. "For North Dakota farmers, ranchers, and manufacturers, exporting is critical, but the administration's wrongheaded trade policies are putting their livelihoods in jeopardy", said Senator Heitkamp. (more...)
Canadian PM Rejects US Proposal for Bilateral Trade Deal Amid Tariffs Row
- June 07, 2018

It wasn't immediately clear how such an arrangement would work. Ottawa's refusal Tuesday to pursue a one-on-one trade deal with the United States came after Donald Trump's top economic adviser said the president was serious about pursuing bilateral agreements with its NAFTA partners. (more...)
Government to provide Rs 8000 crore package for sugarcane farmers Government to provide Rs 8000 crore package for sugarcane farmers
- June 06, 2018

The Cabinet today approved a Rs 8,500 crore bailout package for the sugar industry which includes Rs 4,500 crore soft loan for building ethanol production capacity and creating a 3 million tonne stockpile to soak up excess supply. Sugar prices have dropped to their lowest in 28 months, exacerbating financial woes of sugar mills. As a result, mills now owe almost Rs22,000 crore to cane growers, which could leap to a record Rs25,000 billion in the current 2017-18 season. (more...)
MPC meet: Will RBI hold interest rates or go for a hike? MPC meet: Will RBI hold interest rates or go for a hike?
- June 06, 2018

The move was predicted by 14 of the 44 economists in a Bloomberg survey, with the rest seeing no change. An unexpected surge in inflation and economic growth rates have brought forward expectations for the next rate hike by more than a year, when just over a month ago, the RBI wasn't expected to raise rates until the second half of 2019. (more...)
'Our world is swamped by plastic' 'Our world is swamped by plastic'
- June 06, 2018

Plastic bottles take 450 years or more to decompose, harming us and our environment. "Microplastics in the seas now outnumber stars in our galaxy". "Dumping plastic bottles, bags and cups after a single use is projected to result in our oceans holding more litter than fish by 2050, while an estimated 99 percent of all seabirds will have ingested plastic". (more...)
Buffalo Wild Wings apologizes for vulgar tweets Buffalo Wild Wings apologizes for vulgar tweets
- June 06, 2018

Whoever accessed the chain's Twitter account sent a handful of offensive tweets to their over 700,000 social media followers during the course of roughly 20 minutes starting around 7:30 p.m. "We're sorry that our fans had to see those terrible posts, which obviously did not come from us", the spokesperson said. They say they plan pursuing action, however. (more...)

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