Business


GM plans 10,000 job cuts, five plant shutdowns | CMO Strategy GM plans 10,000 job cuts, five plant shutdowns | CMO Strategy
- November 28, 2018

The planned job reductions, which triggered political pushback in the Midwest U.S. and Canada, come on the heels of surprisingly strong third-quarter earnings. auto sales lagging, several vehicle plants have fallen to just one shift, including its Hamtramck and Lordstown, assembly plant. "That's a real mismatch in a market where 40 per cent of the vehicles sold are crossover utilities". (more...)
China has to treat United States fairly China has to treat United States fairly
- November 28, 2018

Ahead of his meeting with Chinese President Xi Jinping in Argentina later this week, Donald Trump on Monday said that for any trade deal China has to treat his country "fairly". The duties are due to rise to 25 percent at the start of next year - something United States companies and markets are hoping can be averted. So far, Apple's most lucrative devices, like the iPhone and iPad, have been left out of USA tariffs. (more...)
Microsoft's stock market value catches up with Apple Microsoft's stock market value catches up with Apple
- November 27, 2018

The loss wiped out the 1.35 per cent gain during the official trading session and put Apple's stock market value at US$814 billion. Microsoft came within $3 billion of surpassing Apple, which has been the U.S.'s most valuable company since 2010, Reuters reported. (more...)
Trump expects to move ahead with boost on China tariffs
- November 27, 2018

Over the past six months, Trump has imposed import tariffs on Chinese products worth $250 billion and another round of an equal amount is ready to be imposed if there is no trade deal. Sterling was weaker across the board after Trump said on Monday the agreement allowing the United Kingdom to leave the European Union may make trade between Washington and London more hard. (more...)
Malfunctioning ATM in Texas dispenses $100 bills instead of $10 bills Malfunctioning ATM in Texas dispenses $100 bills instead of $10 bills
- November 27, 2018

Authorities said when a customer attempted to withdraw $20 on Sunday at around 11 p.m., the machine spit out a $100 bill, Houston's KPRC-TV reported . There is no word on how much money was withdrawn or if the people who took the cash committed any kind of crime. A bank statement Monday says a vendor incorrectly loaded $100 bills in place of $10 bills. (more...)
GM to close factories in Michigan, Ohio, Canada GM to close factories in Michigan, Ohio, Canada
- November 27, 2018

It was about 50% cars just five years ago. They are working together to come up with a solution that works for GM and the employees. "We estimate sedans operate at a significant loss, hence the need for classic restructuring", he wrote. (more...)
Carlos Ghosn removed as Mitsubishi chairman in boost to Nissan Carlos Ghosn removed as Mitsubishi chairman in boost to Nissan
- November 27, 2018

The 64-year-old Brazil-born Ghosn rode to Mitsubishi Motors' rescue in 2016 when the firm was battered by a fuel efficiency cheating scandal, tying it to his Nissan-Renault alliance and turning its fortunes around. In addition to the allegations made by prosecutors, Nissan's investigation alleged that Mr. Ghosn used corporate money to buy and renovate residences he used in Beirut and Rio de Janeiro, a person familiar with Nissan's investigation has said. (more...)
General Motors To Lay Off Nearly 15,000 Workers, Close Plants General Motors To Lay Off Nearly 15,000 Workers, Close Plants
- November 26, 2018

Actions are being taken to reduce salaried and salaried contract staff by 15 percent , which includes 25 percent fewer executives to streamline decision making. Of that amount, US$600 million was due largely to USA tariffs on imported steel and US$200 million from retaliatory tariffs imposed by China on American vehicles, Ford said. (more...)
Target's Cyber Monday Deals Do Not Disappoint Target's Cyber Monday Deals Do Not Disappoint
- November 26, 2018

But some of the promotional efforts ahead of the day drew the ire of several people who complained that they woke up to a deluge of cyber Monday emails compared to years past. The long shopping weekend isn't over just yet, as Amazon's Cyber Monday 2018 deals have gone live in Canada. Target was offering 30 per cent off on select toys, while Kohl's discounted Lego sets between 30 per cent and 40 per cent. (more...)
General Motors to cut 14000 jobs as seven factories close worldwide General Motors to cut 14000 jobs as seven factories close worldwide
- November 26, 2018

Two of the plants made engines and parts for those cars. Barra said the industry is changing rapidly and moving toward electric propulsion, autonomous vehicles and ride-sharing, and GM must adjust with it. GM has now announced it is planning to close five North American plants by the end of 2019: assembly facilities in Detroit, Ohio and Ontario, Canada; and transmission factories in MI and Maryland. (more...)
Avoid buying Christmas tree on Black Friday or Cyber Monday Avoid buying Christmas tree on Black Friday or Cyber Monday
- November 26, 2018

In addition to offering "cut your own" Christmas trees, the farm also sells treats and snacks to anyone who works up an appetite searching for the flawless tree. "If we don't have any trees, it would've been a real nightmare". And while some may think that you can find the flawless tree in a box as well, according to Reese the most environmentally friendly option is to get it at a farm. (more...)
Bitcoin falls below $4,000 as crypto collapse worsens Bitcoin falls below $4,000 as crypto collapse worsens
- November 26, 2018

However, Innes' short-term prediction has bitcoin fluctuating between $3,500 and $6,500. Tether's market capitalization has is the same as it was earlier and there was no significant change due to the market crash but Litecoin has experienced a major crash in market capitalization which was as high as $20 billion at the start of the year and now just $1.7 billion. (more...)
Former Nissan chairperson denies allegations of fraud Former Nissan chairperson denies allegations of fraud
- November 26, 2018

A Nissan Motor Co. executive who was arrested with Carlos Ghosn on suspicion of under-reporting the chairman's income by 5 billion yen ($44.3 million) concocted a scheme so elaborate that the company's accounting department could not detect it, sources said. (more...)
Liberals table back-to-work bill for Canada Post carriers Liberals table back-to-work bill for Canada Post carriers
- November 26, 2018

Workers are legislated back to work in 1987, 1991, and again in 1997. "We wouldn't come down this road, (but) we have exhausted every option", she said. Disruptions to the postal service have been occurring since October 22, when members of the Canadian Union of Postal Workers began holding rotating walkouts to push for their contract demands. (more...)
Blizzard Warning in effect for entire KQ2 Viewing Area Blizzard Warning in effect for entire KQ2 Viewing Area
- November 26, 2018

A Winter Storm Warning (pink-shaded counties on the map below) for 6 to 12-inches of snow - locally even higher amounts mainly northwest is in effect for IL counties along and north of Interstate-80. Sunday, according to the flight-tracking website FlightAware. A total of 260 flights have been canceled at O'Hare International Airport and 114 flights have been canceled at Midway International Airport. (more...)
Health officials confirm second E.coli case in Ottawa Health officials confirm second E.coli case in Ottawa
- November 25, 2018

There has been one case of E. coli in New Brunswick, three in Ontario, and 15 in Quebec. In the US there have been more than 30 illnesses reported related to the contamination. He also said that new lettuce from other regions would likely be harvested soon and could then be used to replace the potentially contaminated romaine. (more...)
Falling oil prices sink world stocks; supply, growth concerns mount Falling oil prices sink world stocks; supply, growth concerns mount
- November 25, 2018

Oil joined a swoon in equity markets nervous about global trade and a weakening economy. Friday's declines further ramp up the pressure on OPEC ahead of a much-anticipated meeting between the influential oil cartel and its allies in Vienna on December 6, when they are expected to announce that output will be curtailed. (more...)
Thanksgiving deals brings Black Friday shoppers out early Thanksgiving deals brings Black Friday shoppers out early
- November 25, 2018

Colony Square Mall was closed for the first time in six years for Thanksgiving, but they opened at 7.a.m. for the Black Friday shoppers. "We are shopping for toys on Amazon this year as well". Konrad Kelling, managing director of Barclaycard Payment Solutions, said: "Our data shows that people have been making a higher number of less expensive purchases than at this time a year ago". (more...)
Virgin Atlantic In Talks To Rescue Flybe Virgin Atlantic In Talks To Rescue Flybe
- November 25, 2018

Flybe , which flies 76 aircraft, has a market capitalization of about £20.8 million ($26.68 million), according to IBES data from Refinitiv, after its shares fell over 50 percent this year. It would also offer access to valuable take-off slots at Heathrow Airport which are ring-fenced for domestic flights. It comes only four years after the collapse of Virgin Atlantic Little Red - its original attempt to crack the domestic market. (more...)
Brexit: Donald Tusk tells European Union to approve deal Brexit: Donald Tusk tells European Union to approve deal
- November 25, 2018

British Prime Minister Theresa May , on her way to Brussels , hopes to leave Brussels on Sunday with a firm agreement on the withdrawal terms for Britain's departure from the European Union on March 29, as well as a comprehensive negotiating text on how future relations should look like once both sides agree on a trade agreement. (more...)
Skype calling now available on Alexa Skype calling now available on Alexa
- November 25, 2018

Amazon has released all announced Black Friday 2018 deals on Amazon Devices including Echo smart speakers. We will update our list of the best Black Friday TV deals as retailers add more sales and promotions over the Thanksgiving-Black Friday shopping period. (more...)
Spanish Amazon workers in 'Black Friday' strike Spanish Amazon workers in 'Black Friday' strike
- November 25, 2018

Amazon workers in Germany , Spain , Italy and the United Kingdom walked off the job on Black Friday , mixing labor unrest with the start of the biggest shopping season of the year. People with kids, homes, bills to pay - they're not robots. In a statement , Amazon pushed back at the union complaints. These are people making Amazon its money. (more...)
EU27 endorses Brexit deal at summit, says Tusk EU27 endorses Brexit deal at summit, says Tusk
- November 25, 2018

She outlines immigration, money, law and the need to protect the rights of United Kingdom and European Union nationals living in Europe or Britain as priorities. On Friday, Spain said it wouldn't back the Brexit deal unless it gets a cast-iron guarantee of its say over Gibraltar's future. "We are not interested in any dilution of our sovereignty, we are not interested in allowing for even the remotest concession to Spanish sovereignty, jurisdiction or control". (more...)
U.S. reportedly asks allies not to use Huawei equipment U.S. reportedly asks allies not to use Huawei equipment
- November 25, 2018

As well as scaremongering about cybersecurity risks, the WSJ's unnamed sources claim Washington has been considering increasing financial aid for telecommunications development in countries that shun Chinese-made equipment. Some other allies have already taken steps to limit Huawei. Trade tensions between the United States and China have been a headwind for China-exposed technology companies throughout 2018. (more...)
Nissan Ousts Chairman Carlos Ghosn Following His Arrest Nissan Ousts Chairman Carlos Ghosn Following His Arrest
- November 24, 2018

Once-revered boss Carlos Ghosn , 64, seen as the man who saved Nissan , is accused of under-reporting his income by millions of dollars, as well as a host of other financial irregularities. He is suspected of breaking the Financial Instruments and Exchange Law, and the alleged offence may carry a sentence of up to 10 years, Shin Kukimoto, deputy chief prosecutor at the Tokyo District Public Prosecutors Office, told reporters Thursday. (more...)
Tesla rides out trade war by slashing prices in China Tesla rides out trade war by slashing prices in China
- November 24, 2018

The move marks a shift from July when Tesla was one of the first USA carmakers to raise prices in response to tariffs. Apart from lowering the prices of the Model S and Model X, Tesla, which recently released pre-sales of its new Model 3 vehicle in China, also said the car's pricetag would start from CN¥540,000 ($77,928.83) for a dual motor all-wheel diver version and CN¥595,000 for a performance version. (more...)
Chinese retailers boycott Dolce & Gabbana after 'racist' ads Chinese retailers boycott Dolce & Gabbana after 'racist' ads
- November 23, 2018

Following massive public debate in Chinese social media, several major Chinese online shopping sites shelved D&G items , while local A-listers refused to attend the Shanghai catwalk show. Some felt the D&G video played on Western stereotypes of Chinese tourists carrying chopsticks with them and struggling to eat Western cuisine - even if they can afford designer clothing. (more...)
Theresa May faces further battles to secure her Brexit deal Theresa May faces further battles to secure her Brexit deal
- November 23, 2018

But Rudd told BBC Radio 4's Today programme: "It is my view that the House of Commons will stop no-deal". She said "Brexiteers could lose their Brexit" by rebelling against May. When asked if the choice was then not between the PM's deal and no deal, Ms Rudd responded: "There's deal, there's no deal, there's no Brexit". Meanwhile the scale of the challenge Mrs May faces at Westminster was underlined in response to the latest move towards a final deal. (more...)
Black Friday shopping started early on Thanksgiving day Black Friday shopping started early on Thanksgiving day
- November 23, 2018

Adobe says you'll find the best deals on sporting goods on Thanksgiving Day, electronics on Black Friday, apparel on Sunday, and toys on Cyber Monday . However, Black Friday is a state holiday in about half of the states in the country. For some shoppers, "The Black Friday offerings are their favorite deals to steal through the whole season", Lambert said. (more...)
Bomb Blast: At Least 25 Killed In Market , Report Bomb Blast: At Least 25 Killed In Market , Report
- November 23, 2018

Security officials said bodies and the injured were shifted to Kohat hospital and nearby medical facilities. My prayers go to the victims & their families. KP Chief Minister Mehmood Khan directed hospitals in the region to be on alert and condemned the blast in Hangu. The lower Orakzai district attack "shocked and saddened" Senator Sherry Rehman, who declared that "our resolve to fight terrorism remains strong and unwavering". (more...)

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