Business


New Tesla software to offer 'full' autonomy, Musk says New Tesla software to offer 'full' autonomy, Musk says
- June 14, 2018

What's more , Tesla claims that the vehicle will have a range of 620 miles. By using multiple systems, Musk hopes it can be used to decelerate the vehicle and even provide thrust for sharp turns. "The point of all this is just to give a hardcore smackdown to gasoline cars ". The negative coverage of Autopilot, combined with ongoing challenges with Model 3 production, battered Tesla's stock, though it has recovered some losses this month. (more...)
Britain's Rolls-Royce is slashing 4,600 jobs
- June 14, 2018

Rolls has faced a tough trading environment in recent years on weak demand for its plane engines and marine power systems. Rolls-Royce will tomorrow announce it is slashing 10pc of its workforce - about 4,000 jobs - as chief executive Warren East aims to make annual savings of up to £400m at the troubled engineering business. (more...)
Nigeria’s inflation drops to 11.61 % in May - NBS
- June 14, 2018

Also, on a month-on-month basis, the Food sub-index increased by 1.33% in the month of May 2018, it went up by 0.42% from 0.91% that was recorded in the previous month of April. The CPI, which measures inflation rate in the economy within a period, showed inflation rate dropping further by about 0.87 per cent basis points from 12.48 per cent in April to about 11.61 per cent during the month. (more...)
Trump renews attack on OPEC ahead of group's production meeting
- June 14, 2018

Global economic health is important to future oil demand and while the agency sees a solid global economy they are cautions about continued higher oil prices and trade disruptions, both of which could dent global economic growth. Russian Federation and Saudi Arabia are set to open the football world cup, which kicks off in Russian Federation on Thursday. Saudi Arabia last month signaled it was ready to boost output in the second half of the year to ease consumer anxiety about higher ... (more...)
Uber wants to patent technology to detect drunk riders Uber wants to patent technology to detect drunk riders
- June 14, 2018

If not, drivers are alerted so they can reject potentially troublesome passengers. It is not known when the technology will be introduced but experts have warned it could mean vulnerable passengers are unable to get a cab home safely or find themselves charged more. (more...)
Tesla To Lay Off 9 Per Cent Of Its Workforce Tesla To Lay Off 9 Per Cent Of Its Workforce
- June 14, 2018

The move is part of an organizational restructuring that Musk announced earlier in the year. Tesla CEO Elon Musk bought 72,500 shares of his company this week, according to Security and Exchange Commission filings. Also of note is that Musk has a somewhat unconventional pay package at Tesla , where he'll be granted additional stock options as the company hits key milestones. (more...)
Germany Fines Volkswagen $1.2 Billion Over Diesel Scandal Germany Fines Volkswagen $1.2 Billion Over Diesel Scandal
- June 14, 2018

The diesel scandal first became public in the United States three years ago after regulators discovered that Volkswagen diesel vehicles were emitting significantly more nitrogen oxide (NOx) while on the road than the legal limit. The scandal, which came to light in the U.S. in 2015 after VW admitted to circumventing the emissions control system there for diesel vehicles sold since 2009, has so far cost the German automaker $4.3bn (£3bn) in federal penalties over there. (more...)
United North American bid awarded 2026 FIFA World Cup over Morocco
- June 14, 2018

Several hotels around the metro would host teams and FIFA VIPs during the tournament. "We wish him the greatest of luck", said Rubiales. "Both bids were of a very high quality and we welcome the fact that the bidding process was both open and transparent". (more...)
Cryptocurrency tether used to boost bitcoin prices, study finds Cryptocurrency tether used to boost bitcoin prices, study finds
- June 14, 2018

Indeed, even less than 1% of extreme exchange of Tether for Bitcoin has substantial aggregate price effects. Whenever bitcoin fell, tether was used to buy it to prop up the price of the leading crypto. These patterns can not be explained by investor demand proxies but are most consistent with the supply-based hypothesis where Tether is used to provide price support and manipulate cryptocurrency prices. (more...)
Italy summons French envoy as migration row escalates
- June 14, 2018

Economy Minister Giovanni Tria spoke with his French counterpart after cancelling his meeting, a French finance ministry official said, and both agreed to reschedule their session in coming days. But the talks were delayed as both countries traded barbs over the fate of more than 600 migrants rescued off the Libyan coast on the weekend. Luigi Di Maio, leader of the Five Star Movement (M5S) that makes up Italy's new government alongside the League, minister of labour and, with Salvini, joint ... (more...)
After nine years of USA recovery, Fed sheds anxieties After nine years of USA recovery, Fed sheds anxieties
- June 14, 2018

Beginning in 2008 in the midst of the financial crisis, the Fed kept its key rate unchanged at a record low near zero for seven years. Fed officials project their preferred gauge of inflation hitting 2.1 percent in the fourth quarter of this year, compared to 2019 in the March forecast. (more...)
Uber is working on AI to identify drunk passengers Uber is working on AI to identify drunk passengers
- June 13, 2018

The patent also suggests that the service Uber provides to the user could change, as a result. A patent application shows Uber is working on using artificial intelligence to identify intoxicated users to better tailor ride options. (more...)
Fed interest rate: Federal Reserve hikes interest rate another quarter point today Fed interest rate: Federal Reserve hikes interest rate another quarter point today
- June 13, 2018

The U.S. economy continues to strengthen, the Fed indicated, and it no longer needs the historically low interest rates that were put in place in the aftermath of the financial crisis to stimulate growth. The central bank also lifted its growth forecast to 2.8 percent this year , up a small amount from its projection of 2.7 annual growth in March. The step was needed, the Fed said, to be sure rates stay within the intended boundaries. (more...)
North Korean Denuclearisation To Start After Document Is Signed North Korean Denuclearisation To Start After Document Is Signed
- June 13, 2018

In 2012, North Korea agreed to suspend nuclear tests in exchange for food aid, then reversed course two weeks later. Trump and Kim met in Singapore on Tuesday - an unprecedented encounter that saw the leader of the world's most powerful democracy shake hands with the third generation scion of a dynastic dictatorship, standing as equals in front of their nations' flags. (more...)
Canadian lawmakers unanimously accuse U.S. of attacking Trudeau Canadian lawmakers unanimously accuse U.S. of attacking Trudeau
- June 13, 2018

The Group of Seven meet over the weekend saw much drama, opening up the possibility of a trade war, but what stole the show on social media were Canadian Prime Minister Justin Trudeau's eyebrows. The only hint of a softening came when Peter Navarro , the White House economic advisor, apologized for saying there was a "special place in hell" for Trudeau. (more...)
Trump accuses OPEC of raising oil prices
- June 13, 2018

Saudi Arabia has floated several plans to fellow OPEC members as the kingdom seeks consensus before the meeting in Vienna next week. Since early in 2017, however, OPEC has coordinated with Russian Federation, another oil-exporting country that is not an OPEC member, to try to regulate global supplies. (more...)
Toyota to invest US$1b in Grab's latest funding round Toyota to invest US$1b in Grab's latest funding round
- June 13, 2018

A Toyota executive will be appointed to Grab's board of directors and a dedicated Toyota team member will be seconded to Grab as an executive officer, the ride-hailing firm said. There has been speculation for several years about a potential IPO for Grab, but in April, CEO Anthony Tan told CNBC it was just one of "many options" for the company. (more...)
Dixons Carphone admits data breach from July 2017 Dixons Carphone admits data breach from July 2017
- June 13, 2018

A sign displays the logo of Dixons Carphone at the company headquarters in London, Britain August 1, 2017. The retailer added that 5.8 million of the compromised cards are protected by chip and pin number combinations. "The protection of our data has to be at the heart of our business, and we've fallen short here", CEO Alex Baldock said in a statement . Because the data breach dates back to previous year it will be dealt with by the ICO under the powers of the Data Protection Act 1998 and ... (more...)
Lesbian Couple Says They Were Kicked From Uber Over a 'Peck' Lesbian Couple Says They Were Kicked From Uber Over a 'Peck'
- June 13, 2018

A confrontation between an uber driver and a same-sex couple was recorded on video . She thought he was joking, ' Iovine, an advertising technology consultant, said. "It's my own vehicle". "Uber does not tolerate any form of discrimination, and we have reached out to the rider regarding her experience", an Uber spokesperson told Newsweek in a statement. (more...)
GOP scolds Trump team for feud with Canada GOP scolds Trump team for feud with Canada
- June 13, 2018

Navarro added that while these were his own words, they reflected the "the sentiment that was on Air Force One". Asked if he were apologizing to Trudeau , he responded , "Yeah, absolutely". He added: "Why should I, as President of the United States, allow countries to continue to make Massive Trade Surpluses, as they have for decades, while our Farmers, Workers & Taxpayers have such a big and unfair price to pay?" "Sorry, we can not let our friends, or enemies, take advantage of us on ... (more...)
Daimler ordered to recall over 200,000 diesel cars Daimler ordered to recall over 200,000 diesel cars
- June 13, 2018

Germany's Transport Ministry said on Monday that 774,000 Mercedes-Benz vehicles in Europe had been found to contain unauthorised software defeat devices and ordered Daimler to recall more than 200,000 cars in Germany. We will file an objection against the decision issued by the KBA (German Federal Motor Transport Authority). The company is reportedly confident it can bring the vehicles back into compliance via software update. (more...)
Judge OKs AT&T merger with Time Warner Judge OKs AT&T merger with Time Warner
- June 13, 2018

The merger's approval was a stinging defeat for the Justice Department, which could move to appeal Leon's ruling . In addition, T-Mobile and Sprint are direct competitors, so their merger is perhaps more likely to be seen as anti-competitive than a union of AT&T and Time Warner. (more...)
Canada parliament condemns US attack on Trudeau, country simmers Canada parliament condemns US attack on Trudeau, country simmers
- June 12, 2018

Despite his conservative rivals snapping at his heels in polls, Trudeau has seen Canadian politicians from across the spectrum close ranks around him after Trump threatened to slap tariffs on the automobile sector, which would mark a dramatic escalation in the trade spat. (more...)
Tesla to cut staff by 9 percent in drive for profitability Tesla to cut staff by 9 percent in drive for profitability
- June 12, 2018

US electric vehicle giant Tesla is laying off nine per cent of its workforce, the company announced on Tuesday. Afterward an emotional Musk appeared to signal brighter days ahead for the Tesla when he predicted the company would begin pushing out 5,000 Model 3s per week by the end of June. (more...)
Uber vs. Lyft in the electric scooter market Uber vs. Lyft in the electric scooter market
- June 12, 2018

Electric scooters can certainly be an eco-friendly way to get around town, with the cost to ride them as cheap as $0.15 per minute. In the first six months there will 1,250 scooters on the streets and, if deemed successful, the number could be doubled for the rest of the year. (more...)
Uber launches a low-data Lite app that's just 5MB in size Uber launches a low-data Lite app that's just 5MB in size
- June 12, 2018

Uber is claiming a 300-millisecond response time on the application and is also claiming support for all Android phones. On top of that, Uber Lite caches a city's top pickup places when you're offline, so you don't even need a network connection to bring them up. (more...)
Amazon criticised over conditions at Hengyang Foxconn supplier factory Amazon criticised over conditions at Hengyang Foxconn supplier factory
- June 12, 2018

This is, of course, not the first time labor issues at Foxconn, one of the largest electronic OEMs in the world and the main supplier of Apple's iPhones , have been scrutinized. During each month of peak production season, workers have to put in over 100 hours of overtime. The report alleged the Foxconn factory often exceeded the number of dispatch workers allowed, and those workers were asked to work ridiculous hours for less pay. (more...)
Domino’s Pizza Repaves Potholes In Milford, Delaware Domino’s Pizza Repaves Potholes In Milford, Delaware
- June 12, 2018

Domino's Pizza is asking customers to nominate their town for pothole repairs. Domino's said it has previously helped towns in Texas, California, Georgia and DE fix their roads. The project, called " Paving for Pizza ", will allow individuals to nominate their town on a website by ZIP code . The accompanying website also has, aside from a nomination form and carryout special, a "pothole impact meter" with video to show what happens to a pizza from an in-box camera on varying road conditions. (more...)
South Korea Didn't See This Coming - Cortney O'Brien South Korea Didn't See This Coming - Cortney O'Brien
- June 12, 2018

Trump's comments will be questioned by many in South Korea and beyond, with some seeing in them an effort by North Korea to drive a wedge between Seoul and Washington. "So I think the rhetoric - I hated to do it", Trump continued. The United States and the DPRK commit to recovering POW/MIA remains, including the immediate repatriation of those already identified. (more...)
The full statement Donald Trump and Kim Jong-un signed The full statement Donald Trump and Kim Jong-un signed
- June 12, 2018

And then he opened the floor to questions. "Otto Warmbier is a very special person and he will be for a long time in my life". "Should we keep going Sarah?" "We sat down for lunch", Rodman said of a face-to-face meeting with Kim five years ago. (more...)

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