Business


Google allegedly working on censored search engine for Chinese market
- August 02, 2018

The project is codenamed " Dragonfly " and the new service may take the form of an Android app, according to the report. The Chinese version had already been demonstrated to Chinese government officials, who keep a tight lid on a wide variety of information, especially if it's critical of the government. (more...)
Trump threatens to increase tariffs on China; China calls it ‘blackmail’
- August 02, 2018

Despite the fact that some U.S. media have linked the proposal to hike tariffs to a sharp drop in the Chinese currency, senior United States officials downplayed that idea in a telephone call with reporters. "If the USA takes measures to further escalate the situation, we will surely take countermeasures to uphold our legitimate rights and interests", Geng Shuang, spokesman for China's Ministry of Foreign Affairs, told journalists. (more...)
Indian central bank raises rates for second time
- August 02, 2018

It became an even closer call after survey figures on Wednesday signalled a weaker performance from the manufacturing sector in July. The reverse repo rate or the rate at which RBI borrows from commercial banks stands adjusted to 6.25 per cent. (more...)
Dixons Carphone's data breach hit 10 million customers Dixons Carphone's data breach hit 10 million customers
- August 02, 2018

The electronics retailer has said that up to ten million users might have been hit by the attack, revealed last month , with details such as names, addresses and email accounts all revealed. Baldock added: "Again, we're disappointed in having fallen short here, and very sorry for any distrees we've caused our customers". Baldock said the company was "fully committed" to making customers' personal data safe. (more...)
Bank of England raises interest rates to 0.75% - highest level since 2009
- August 02, 2018

The decision to raise rates will be a blow to some borrowers on variable rate mortgages, but will offer relief to savers who have seen paltry returns on deposits since rates have languished at 0.5% or below since 2009. It also highlighted a slowdown in the United Kingdom housing market this year, which has been "concentrated in London", where mortgage completions are down 12% on 2016. (more...)
Carmakers not ready for Brexit, says SMMT as United Kingdom sales fall Carmakers not ready for Brexit, says SMMT as United Kingdom sales fall
- August 02, 2018

While manufacturers and their suppliers are racing to prepare contingency measures, such as increasing warehousing or stockpiling parts, "no one would profess to being " Brexit ready", he said. However, British buyers also get the majority of their vehicles from overseas, with about 86% of new cars imported and 69% from the EU. Although a no-deal Brexit threatens the agreement, the latest proposals put forward by the British government "are a step in the right direction", he said. (more...)
Meat processor Tyson Foods cuts profit forecast on mounting tariff pressures Meat processor Tyson Foods cuts profit forecast on mounting tariff pressures
- August 02, 2018

The company will deliver third-quarter earnings Monday, Aug. 6. PEG ratio used to determine a stock's value while taking into account the earnings' growth. A stock with a beta less than 1 is considered less volatile than the market; more than 1 means more volatile. Stocks to Watch: Tyson Foods, Inc . (more...)
RBI hikes repo rates by 25 basis points
- August 02, 2018

The move will increase the interest costs of more than three-and-a-half million residential mortgages that have variable or tracker rates. In the shorter term, the Bank Rate implied by a so-called equilibrium real interest rate, or "r*", was likely to be somewhat lower, the BoE said but it did not give an estimate. (more...)
Huawei overtakes Apple to become the second largest smartphone vendor Huawei overtakes Apple to become the second largest smartphone vendor
- August 02, 2018

Now leading the massive China smartphone market with a record-high market share of 27% in the second quarter of 2018, its P20/P20 Pro series shone through in the $600-$800 price segment, "helping Huawei build a high profile in the market". (more...)
Durex recalls condoms over quality issue Durex recalls condoms over quality issue
- August 02, 2018

The HPRA said consumers need to monitor the bottom of the outer pack and the indivudal condom wrappers to see if they are part of the affected products. 'If you have, stop using them as there is a risk that they will tear or leak. It comes after fears arose over the affected condoms potentially bursting as they come closer to the end of their shelf life. (more...)
China says United States ‘blackmail’ won’t work, warns of retaliation on tariffs
- August 02, 2018

The officials told reporters on a background call that Trump had directed U.S. Trade Representative Robert Lighthizer to consider the higher tariff rate as part efforts to ensure that it has "the right tools in place in order to encourage China to change its actions". (more...)
TSA Secretly Tracking Travelers Not on Government Watch Lists TSA Secretly Tracking Travelers Not on Government Watch Lists
- August 02, 2018

The "Quiet Skies" program came to light because of an investigative report by the Boston Globe . US Transportation Security Administration (TSA) spokesman Thomas Kelley, in an emailed response to a query, said the program's objective is to ensure "passengers and flight crew are protected during air travel", and the agency does not take race or religion into account. (more...)
China warns of retaliation if USA takes more trade steps
- August 02, 2018

Washington is preparing to also impose tariffs on an extra $16 billion of goods in coming weeks, and Trump has warned he may ultimately put them on over half a billion dollars of goods - roughly the total amount of USA imports from China previous year. (more...)
RBI hikes repo rate: What happens to your EMIs now RBI hikes repo rate: What happens to your EMIs now
- August 02, 2018

Thirty-seven of 63 economists in a Reuters poll last week said the RBI will raise rates n Wednesday, while 22 said the next hike would come later this year, or early in 2019. The move will make the home loans dearer and will have direct impact on the borrowers as the rate hike will lead to banks raising their interest rates in loans. (more...)
Coles flips again on plastic bag ban, puts end date on freebies Coles flips again on plastic bag ban, puts end date on freebies
- August 02, 2018

The bags are back", Steve said with a smirk while waving a plastic bag in his hand on last night's episode of The Project . But environmentalists and customers have slammed the news, saying it's counter-productive and a disaster for the environment. (more...)
'Bad manners': Musk's apology to analysts sends Tesla shares soaring 'Bad manners': Musk's apology to analysts sends Tesla shares soaring
- August 02, 2018

Investors on Wall Street, meanwhile, were anticipating revenue to fall somewhere in the $3.791 billion range and a loss of $2.90 per share. Elon Musk didn't help things last May during the first quarter earnings call when he called one analyst "boneheaded" and "boring" for asking hard questions about the finances of Tesla . (more...)
Google plans censored version of search engine in China: The Intercept
- August 02, 2018

This censorship will happen across the board, with elements like image search, spell check, and search suggestions hiding keywords blocked on request of the Chinese government. China blocks a large amount of information from their citizens such as political information, certain elements of Chinese history and other free speech related topics. (more...)
US Treasury sanctions 2 Turkish officials US Treasury sanctions 2 Turkish officials
- August 02, 2018

The U.S. Senate previously tried to prohibit the sales of F-35 Joint Strike Fighter jets to Turkey, citing the purchase of the S-400 air defense system from Russian Federation and detaining U.S. "It is impossible to accept the U.S. Administration's threatening messages, which totally disregard our alliance and friendly relations between our countries". (more...)
BoJ Maintains Stimulus; Brings Flexibility To Policy Framework BoJ Maintains Stimulus; Brings Flexibility To Policy Framework
- August 02, 2018

Indeed, the BOJ had to lend 1.36 trillion yen of JGBs, including nearly 800 billion yen of the benchmark 10-year JGBs, to short sellers on Tuesday. The announcement provided some comfort to bond investors as the policy tweaks didn't appear to show any inclination from the BOJ to make a radical shift from its accommodative stance. (more...)
Wraps, Salads Sold At Trader Joe's, Kroger, Walgreens Possibly Contaminated with Cyclospora Wraps, Salads Sold At Trader Joe's, Kroger, Walgreens Possibly Contaminated with Cyclospora
- August 01, 2018

The products were produced between July 12 and July 18, and contain a "best by" date ranging from July 18 to July 23. They were distributed to Kroger , Trader Joe's and Walgreen's stores. These products should be thrown away or returned to the place of purchase. The new recall, which the Department of Agriculture's Food Safety and Inspection Service issued this week, does not affect the Kroger-owned Mariano's grocery chain, company spokesman Jim Hyland said Wednesday. (more...)
RBI monetary policy: Repo rate hiked by 25 bps
- August 01, 2018

On liquidity in the financial system, RBI deputy governor Viral Acharya in a media briefing after the central bank hiked the repo rate said: "Though the growth in currency-in-circulation has moderated to some extent recently, its expansion remains above the historical trend". (more...)
Tata Motors posts first loss in three years amid weak JLR sales Tata Motors posts first loss in three years amid weak JLR sales
- August 01, 2018

For Jaguar Land Rover , retail sales in the first quarter of FY2019 grew by 5.9 per cent year-on-year to 145,510 units. Speaking on the performance of JLR during the previous quarter, Tata Motors , Chairman, Natarajan Chandrasekaran commented, "With regards to JLR, we faced multiple challenges including temporary issues like China duty impact as well as the market issues like diesel concerns in United Kingdom and Europe". (more...)
McDonald's worker, customer get into vicious brawl over soda McDonald's worker, customer get into vicious brawl over soda
- August 01, 2018

The video first appears to show the two women arguing when the customer chucks a milkshake across the room at the employee, who then charges. After the initial struggle, in which the much larger McDonald's employee seems to completely overpower the customer with raw power and physical strength, other employees attempt to break up the pair but are quickly discouraged as the customer lashes out at them as well. (more...)
How did OnePlus just beat Apple and Samsung? How did OnePlus just beat Apple and Samsung?
- August 01, 2018

Huawei overtook Apple in the second quarter of 2018 to become the world's second largest smartphone vendor, according to market research released Tuesday. OnePlus was also the fastest growing brand in the premium segment (+446 per cent) while shipments for Apple and Samsung declined YoY. The company captured 34% share of the segment. (more...)
Uber halts development of self-driving trucks Uber halts development of self-driving trucks
- August 01, 2018

Uber is folding its self-driving truck program, the company confirmed Monday, to focus exclusively on building its own self-driving passenger auto technology. Uber's self-driving auto program was suspended in March after a pedestrian in Tempe, Ariz., was struck and killed by one of Uber's driverless vehicles, leading to a National Transportation Safety Board investigation. (more...)
MoviePass to increase basic monthly subscription
- August 01, 2018

Customers are reporting service outages for MoviePass users in theaters across the country, leading many to ask whether this is the end of the movie subscription service. "Our community has shown an enormous amount of enthusiasm over the past year, and we trust that they will continue to share our vision to reinvigorate the movie industry", said Mitch Lowe , MoviePass CEO. (more...)
Apple beats earnings estimates as iPhone sales climb Apple beats earnings estimates as iPhone sales climb
- August 01, 2018

During the same quarter past year, Apple posted iPhone sales of 41.02 million units. Apple said the average selling price of the iPhone had risen to more than $US700 in the quarter, showing that each customer is paying more for the company's gadgets. (more...)
MoviePass is raising prices, limiting access to first run blockbusters
- July 31, 2018

After being forced to take out an emergency loan late last week to keep the operation afloat (the effectiveness of which was questionable as service disruptions continued through the weekend), the movie subscription service on Tuesday announced the implementation of "several new measures aimed at accelerating the plan for profitability". (more...)
Viral plea for homeless web designer leads to 200 job offers Viral plea for homeless web designer leads to 200 job offers
- July 31, 2018

She rolled down her window and called Casarez over to her vehicle. She flagged him down and took a copy of his resume. "He's extremely driven and understands he may have miscalculated on what it takes to make it out here in Silicon Valley", she said. (more...)
50 years on, McDonald’s isn’t messing with its Big Mac 50 years on, McDonald’s isn’t messing with its Big Mac
- July 31, 2018

To get MacCoin , fans can buy a Big Mac, starting at lunchtime on August 2. Big Mac creator Jim Delligatti, right, poses with a Big Mac birthday cake and Ronald McDonald at his 90th birthday party in Canonsburg, Pennsylvania, on August 21, 2008. (more...)

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