Business


Pompeo plans to meet with Kim Jong Un again in Pyongyang Pompeo plans to meet with Kim Jong Un again in Pyongyang
- October 04, 2018

State Department spokeswoman Heather Nauert told reporters on Tuesday that Pompeo will meet with Kim on Sunday, following a daylong visit to Japan. It will be the fourth trip by Pompeo to the long-time United States pariah amid American hopes of reaching an agreement to end North Korea's nuclear and ballistic missile programmes. (more...)
Petrol, diesel cheaper by Rs 5 in Maharashtra and Gujarat Petrol, diesel cheaper by Rs 5 in Maharashtra and Gujarat
- October 04, 2018

Price cut in states like Gujarat and Maharashtra would be Rs 5 after they matched the announcement with a similar reduction in local sales tax or VAT rates. Will have to see what states where leaders were indulging in lip sympathy and tweeting, what would these states do". The minister recalled that the central government had reduced taxes on fuel last October by Rs 2 and only states ruled by the BJP-led NDA coalition had announced matching cut in state taxes. (more...)
Rupee sinks to historic low, Centre anxious Rupee sinks to historic low, Centre anxious
- October 04, 2018

The Indian rupee on Thursday slumped further to an all-time low of 73.77 against the US dollar. A woman walks past the Reserve Bank of India (RBI) head office in Mumbai , India, December 6, 2017. A liquidity scare erupted last month after a series of debt defaults by Infrastructure Leasing & Financial Services (IL&FS) sparked redemption pressure at other shadow banking companies. (more...)
Canada and United States agree last-minute trade deal Canada and United States agree last-minute trade deal
- October 04, 2018

The United States and Canada have reached an 11th hour deal to keep alive a three-country trade alliance with Mexico and prevent a disruptive break-up. "This is just another layer of milk and other supply managed products coming into the country that really undermines the stability of the system we have in place here", he said. (more...)
NY Dairy Farmers Could Benefit From New Trade Deal With Canada NY Dairy Farmers Could Benefit From New Trade Deal With Canada
- October 04, 2018

Jersey cows at Silver Spring Farm in Syracuse. The U.S. -Mexico-Canada Agreement ( USMCA ) updates and replaces the almost 25-year-old North American Free Trade Agreement ( NAFTA ), which Trump had threatened to cancel. "I must admit, I insist, that President Donald Trump had an open, tolerant attitude", the leftist politician said. The most significant revisions mirror the provisions the Obama administration negotiated during the TPP talks a couple of years ago. (more...)
Dairy industry to benefit from new trade agreement
- October 04, 2018

Canada will pursue deeper trade ties with China, Prime Minister Justin Trudeau said Tuesday as the government rejected accusations its new U.S. -Mexico trade deal ceded sovereignty over that goal to the Trump administration. Bhala, the KU law professor, said he thought it was unlikely that Congress would reject the deal, even if Democrats took control of the House after the 2018 elections, because most Democrats, and their financial backers, are supporters of free trade. (more...)
Oil Falls but Stays Near Four-year Highs Oil Falls but Stays Near Four-year Highs
- October 03, 2018

Brent crude lost 37 cents to $84.61 per barrel by 1200 GMT on Tuesday after reaching a four-year high of $85.45 in the previous session. WTI has risen around 18% since mid-August. Christopher Wood Equity Strategist, CLSA said in his GREED & fear report, "Oil is (seen) heading much higher unless demand suddenly collapses in the emerging world, and so far, there is little sign of this". (more...)
Oil races toward $85 as Iran sanctions loom
- October 02, 2018

U.S. West Texas Intermediate crude futures were at 73.57 dollars a barrel. "Market sentiment was lifted by a last-gasp deal to salvage NAFTA as a trilateral pact between the United States, Mexico and Canada, rescuing a US$1.2 trillion a year open-trade zone that had been about to collapse", it said. (more...)
FEMA to Test ‘Presidential Alert System’ Wednesday
- October 02, 2018

According to FEMA , the alert is not a text or SMS (short message service) but an audio and text warning that will display as a notification across a user's cell phone - similar to the ones carriers receive during AMBER alerts and weather emergencies. (more...)
Amazon will raise company's minimum wage to $15 for all USA employees Amazon will raise company's minimum wage to $15 for all USA employees
- October 02, 2018

The proposed law says companies that don't pay a living wage should have to reimburse the tax authorities for the federal benefits paid out to their low-wage workers. Bureau of Labor Statistics show ordinary workers in the USA private non-farm sector on average earn $22.73 an hour. The largest US retail employers have been leading the effort to increase the minimum wage. (more...)
Amazon to raise minimum wage to $15 for U.S. employees
- October 02, 2018

This wage increase will apply to not only the 250,000 full-time employees that the company has, but also to the 100,000 seasonal employees they hire each year prior to the holidays. Sanders claims many Amazon workers need food stamps to feed their families, though Amazon has disputed his figures. Last month it became the second publicly traded company to be worth $1 trillion, hot on the heels of Apple. (more...)
Tesla shares jump after Musk settles with SEC Tesla shares jump after Musk settles with SEC
- October 02, 2018

Tesla itself has also been slapped with a $20 million fine by the SEC, making Musk's tweet one of the most expensive in history. As CEO, Musk will essentially remain in day-to-day charge of the firm, but he will likely face more oversight and control from the board and the new chairman. (more...)
Petrol Breaches Rs 91-Mark, LPG Above Rs 500 Petrol Breaches Rs 91-Mark, LPG Above Rs 500
- October 02, 2018

Delhi recorded an increase by Rs 0.24 a litre, whereas in Mumbai an increase by Rs 0.30 is borne by the customers. Reports claim that India is the third largest importer of crude oil and the rise in global oil markets are resulting in the inflation of transport fuel costs in the country. (more...)
Canada, U.S. reach deal to save NAFTA as trilateral trade pact
- October 02, 2018

Trudeau said he knows there is anxiety for dairy producers but also implied things could have been a lot worse. USMCA got mixed reviews as pundits and politicians grappled with the latest iteration of what was once called NAFTA . "Supply management has been sacrificed". Let's not forget that the American executive wanted it gotten rid of in its entirety. Jean Simard, who speaks for three large aluminum producers in Canada - Alcoa Canada Ltd., Rio Tinto Alcan Inc. (more...)
John Flannery ousted at GE after less than 2 years John Flannery ousted at GE after less than 2 years
- October 02, 2018

GE has turned to cost-cutting measures in recent quarters to offset sagging revenues, selling off a light-bulb segment once spearheaded by Thomas Edison and its distributed power business. "The company was booted from the Dow Jones Industrial Average this summer and last month, shares tumbled to a nine-year low after revealing that is marquee gas turbine was flawed, an 'oxidation issue", forcing the shutdown of a pair of power plants where they were in use. (more...)
GE CEO Flannery Removed as Losses Increase GE CEO Flannery Removed as Losses Increase
- October 01, 2018

GE's board, meeting in the last few days, unanimously picked H. Lawrence Culp Jr as its new CEO. In a statement on Monday, GE lauded Culp's tenure at Danaher and said that he "executed a disciplined capital allocation approach, including a series of strategic acquisitions and dispositions", among other activities. (more...)
California's Net Neutrality Law Is Facing a Justice Department Lawsuit California's Net Neutrality Law Is Facing a Justice Department Lawsuit
- October 01, 2018

As Gizmodo reports , the bill-now the most far-reaching of its kind and considered the "gold standard" for state-level protections-"prohibits ISPs from intentionally congesting or degrading web traffic for the objective of imposing unreasonable fees on companies that connect users on ISP networks to other parts of the web, also known as interconnection". (more...)
Tesla shares soar 16% after Elon Musk settles fraud lawsuit with regulator Tesla shares soar 16% after Elon Musk settles fraud lawsuit with regulator
- October 01, 2018

But its shares have been hit hard since the SEC filed the lawsuit. Two new independent directors will be appointed to the board and a new committee of independent directors will be expected to put in place additional controls and procedures to oversee Musk's communications. (more...)
How to tell if your account has been hacked How to tell if your account has been hacked
- October 01, 2018

You may have noticed that when you log into your Facebook account once, a security key (access token) is generated, which helps the app to login to the user's account next time without a password. If you are a user and are not aware of this security breach - reported by Facebook itself - then you definitely need to learn about it. It seems the security engineers trivialised the severity of this bug, which has existed since the feature was made available to users. (more...)
Elon Musk Resigns as Chairman; Order to Pay $20 Million Fine
- October 01, 2018

The shares closed Thursday at US$307.52 before the SEC announced its enforcement action over the tweets, in which Musk said he had " funding secured " to take the company private at US$420 a share. Tesla itself has also been slapped with a $20 million fine by the SEC, making Musk's tweet one of the most expensive in history. Tesla did not immediately respond to a request for comment and Musk could not immediately be reached for comment. (more...)
Thousands of travellers affected in Europe by Ryanair strike Thousands of travellers affected in Europe by Ryanair strike
- October 01, 2018

It had initially cancelled 190 flights ahead of action by cabin crew in Spain, Belgium , Holland, Portugal, Italy and Germany. "They don't care about us". Earlier this month Ryanair chief executive Michael O'Leary said the disputes had caused "minimal disruption" and he pledged not to "roll over". "It is inexplicable that the VC Union can not explain why they are calling a strike to agree a CLA when Ryanair has already agreed in writing to arbitration in Germany, which will complete ... (more...)
U.S. and Canada reach last-minute deal to preserve NAFTA U.S. and Canada reach last-minute deal to preserve NAFTA
- October 01, 2018

The deal represents a win for Trump, who has derided Nafta for years and threatened to pull the U.S. from the pact if it was not rewritten in Washington's favour. They said they are "very very excited about it over here". According to industry experts, the rule would also allow the Trump administration the ability to impose higher tariffs on national security grounds if vehicles do not comply with the new thresholds. (more...)
VW Partners With Microsoft to Create 'Volkswagen Automotive Cloud' VW Partners With Microsoft to Create 'Volkswagen Automotive Cloud'
- September 30, 2018

Volkswagen and Microsoft have struck a deal that will see the car-maker embed internet services into its vehicles with the software giant's cloud technology, the companies announced Friday. From 2020, Volkswagen will integrate more than 5 million Volkswagen-branded vehicles per year to an internet of things network. As part of the initiative, Volkswagen says it plans to set up shop with a new legal entity close to Microsoft's headquarters in Redmond, Washington, where it will build the ... (more...)
Amazon to open 'four-star' store in New York Amazon to open 'four-star' store in New York
- September 30, 2018

Amazon says items will include a mini skillet, card games and numerous company's own electronic devices including the Echo Spot and Fire TV Stick, in the Amazon 4-star store. For example, a Lodge 3.5-inch cast iron mini skillet is listed with 4. 4 stars and totals more than 10,900 customer reviews, which 76% of reviewers rated five stars. (more...)
Freeland back in Canada, postpones United Nations speech Freeland back in Canada, postpones United Nations speech
- September 30, 2018

White House economic adviser Larry Kudlow (3rdR-standing) and Jesus Seade (R), Mexico's President-elect Obrador's representative in trade negotiations look on as President Trump announces the U.S. The Trump administration did not immediately respond to a request for comment Friday evening. Wyden is from OR, a state that trade more with Canada than Mexico. (more...)
BMW i3 gets 30 percent bigger battery, 153-mile range BMW i3 gets 30 percent bigger battery, 153-mile range
- September 30, 2018

Under new WLTP fuel economy tests , the new i3 provides a range of 192 miles, while the old NEDC tests provide a range of 223 miles and 214 miles for the i3 and sporty i3S respectively. Pricing and availability will be announced closer to the market launch. LED headlights with cornering lights and automatic high beams are now available, and BMW's iDrive 6.0 infotainment system now comes on every vehicle with navigation. (more...)
Facebook Breach May Have Allowed Attackers to Take Over 50 Million Accounts Facebook Breach May Have Allowed Attackers to Take Over 50 Million Accounts
- September 30, 2018

Facebook says that they've already fixed the vulnerability and informed law enforcement. The attacks could then use these tokens to take over other people's accounts. This latest hack involved bugs in Facebook's " View As " feature, which lets people see how their profiles appear to others. Well, these days we came across with tons of news related to Facebook account hacks and all. (more...)
Where to get java deals and freebies on National Coffee Day Where to get java deals and freebies on National Coffee Day
- September 29, 2018

Peet's Coffee is also celebrating National Coffee Day. Whether you like your coffee hot or cold, there's a deal for you. You can snag a cup of the new flavor - or any other coffee - for free at participating locations today. Also through Sunday, the chain has a special Original Glazed Coffee and Coffee Glazed Doughnuts. Speedway: Get a free Belvita breakfast biscuit with the purchase of any size coffee on Saturday. (more...)
SurveyMonkey Makes Impressive Debut On Wall Street (NASDAQ:SVMK)
- September 29, 2018

SurveyMonkey's stock priced above the marketed price range as it raised $180 million in its initial public offering Tuesday. Founded in 1999, SurveyMonkey provides survey software products to measure feedback and the platform is used by about 3 million people daily. (more...)
US, China hike tariffs as trade row intensifies US, China hike tariffs as trade row intensifies
- September 29, 2018

The potential visit fell apart last weekend after Trump, citing a lack of Chinese efforts to address his concern on protecting American intellectual property, made a decision to go ahead with the new tariffs. The toughly worded report said Beijing wants a "reasonable solution" but gave no indication of possible concessions. China's overall import tariffs have been cut to an average of 7.5 percent from 9.8 percent a year ago, according to the Cabinet statement. (more...)

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