Business


Jet Airways' fateful descent accelerates; fuel supply to last just hours Jet Airways' fateful descent accelerates; fuel supply to last just hours
- April 17, 2019

Because no emergency funding from the lenders or any other source of funding is forthcoming, it will not be possible for the Company to pay for fuel or other critical services to keep the operations going. Also passengers will suffer higher prices by opportunist industry'. Ending speculation over the next course of action, the crumbling Jet Airways finally announced that it will temporarily suspend operations from Wednesday night. (more...)
President Trump Touts Tax Bill During Minnesota Visit President Trump Touts Tax Bill During Minnesota Visit
- April 16, 2019

The state's Democrats saw a huge overall resurgence during the anti-Trump backlash of 2018, notably in traditionally Republican suburbs of Minneapolis and St. Trump bucked decades of presidential tradition by declining to show voters his tax filings, both as a candidate and as president. A key House committee, citing a 1920s law, has given the administration until April 23 to hand over six years' worth of Trump's business and personal returns. (more...)
Musk tweets another Tesla forecast in midst of talks with SEC Musk tweets another Tesla forecast in midst of talks with SEC
- April 15, 2019

District Judge Alison Nathan rather notably. Nathan pushed Crumpton during the hearing to define the terms under which Musk should seek approval before he drew attention to surrounding the principles that the SEC sought to apply, and tweets . (more...)
Uber to go public, dumping a 300-page prospectus Uber to go public, dumping a 300-page prospectus
- April 15, 2019

This increased 33.8 percent from 2017, but growth dropped from 51 percent a year earlier. Last year, a self-driving Uber vehicle ran over a pedestrian in Tempe, Arizona - the first time a person had been killed by autonomous vehicle. Ride-hailing company reported a $3 billion operating loss in 2018, and estimated that operating expenses to surge significantly, so in the near future the company may not achieve profitability. (more...)
U.S. crude rises 31 cents, settling at $63.89, on tightening oil supply U.S. crude rises 31 cents, settling at $63.89, on tightening oil supply
- April 14, 2019

The U.S.' sanctions on Iran and Venezuela caused a decline in oil production and exports of these countries. "Oil prices at $70/bbl for Brent are less comfortable for consumers than they were at the start of the year", the reports says. (more...)
Walmart Responds to Bezos with Tweet Asking Amazon to Pay Taxes Walmart Responds to Bezos with Tweet Asking Amazon to Pay Taxes
- April 14, 2019

Bezos laid down the challenge in his annual shareholder letter , published on Thursday. "Do it! Better yet, go to $16 and throw the gauntlet back at us". "Third-party sellers are kicking our first-party butt", Bezos wrote, attributing their success to tools built by Amazon, including the Prime subscription program and Fulfillment by Amazon distribution service. (more...)
Mum on Senate support for Herman Cain for Fed Mum on Senate support for Herman Cain for Fed
- April 14, 2019

President Donald Trump on Monday urged the Federal Reserve not to raise interest rates, but Fed officials are widely expected to do so this week despite the president's ongoing public effort to dissuade the US central bank from putting any brakes on the economy. (more...)
FCC to spend $20 billion for rural internet FCC to spend $20 billion for rural internet
- April 14, 2019

While telecom service providers are going with full gusto in the US, South Korea and other markets, smartphone makers are readying for 5G with a slew of devices. The $20.7 million Rural Digital Opportunity Fund, to come from existing FCC subsidy coffers, is meant to connect up to 4 million American homes over the next decade. (more...)
Pre-Cut Fruit Sold At Walmart, Target Recalled In Illinois Pre-Cut Fruit Sold At Walmart, Target Recalled In Illinois
- April 14, 2019

CT and Saturday and Sunday, 6 a.m.to 6 p.m. CT. An Indianapolis-based company has issued a recall for melon products sold in 16 states after being linked to a salmonella outbreak. According to the Illinois Department of Public Health, five cases have been reported in northeastern and eastern Illinois. "Because it is possible that products could still be on store shelves, this recall extends to both retailers and consumers", the FDA announcement said. (more...)
USA oil giant Chevron says will acquire Anadarko for $33 billion USA oil giant Chevron says will acquire Anadarko for $33 billion
- April 14, 2019

The combined company's cash flow previous year, US$36.5 billion, would have exceeded Exxon's. It expands Chevron's reach in two areas where US energy output is breaking records: shale from the Permian Basin of west Texas and New Mexico, and liquefied natural gas (LNG). (more...)
Ivanka Trump 'in the running to become World Bank President' Ivanka Trump 'in the running to become World Bank President'
- April 14, 2019

Asked why he didn't nominate her , Trump replied: "If I did, they'd say nepotism, when it would've had nothing to do with nepotism". Melania Trump's spokeswoman Stephanie Grisham told Newsweek that Melania Trump and Ivanka Trump have "always shared a close relationship and still do today". (more...)
Tesla claims Panasonic battery supply a constraint on production Tesla claims Panasonic battery supply a constraint on production
- April 14, 2019

At the same time, it has also decided with Tesla to freeze spending to expand Gigafactory 1 , which has manufactured Model 3 batteries since 2017. The report concerned investors because it could impact Tesla's production and delivery rates. Panasonic builds the cylindrical battery cells themselves, while Tesla arranges those cells into battery packs before installing them in cars at its Fremont facility in California. (more...)
Consumer Reports investigation into Fisher Price Rock 'n Play Sleeper Consumer Reports investigation into Fisher Price Rock 'n Play Sleeper
- April 13, 2019

For the CPSC's part, it says all 10 dead babies were three months or older so it's recommending retiring the Rock "N" Play by three months even if infants haven't demonstrated roll over capabilities. "All other inclined sleepers should be investigated by the Consumer Product Safety Commission". Safe sleeping is always a top-priority concern for new parents . (more...)
Tesla Just Made It Harder to Buy Its Cheapest $35,000 Electric Car Tesla Just Made It Harder to Buy Its Cheapest $35,000 Electric Car
- April 13, 2019

As to why Autopilot is now a standard feature, Tesla explains that, "our data strongly indicates that the chance of an accident is much lower when Autopilot is enabled". However, without the model listed on the website, Tesla is keeping customers in the dark about its availability. Therefore in order to streamline production Tesla have made the decision to make the Model 3 Standard a software-limited version of the Standard Plus. (more...)
Report reveals that Amazon staff listen to Alexa recordings Report reveals that Amazon staff listen to Alexa recordings
- April 13, 2019

They then annotate the recordings they transcribe and feed it back into Alexa's "brain" to improve its understanding and fill in any remaining blank spaces with regards to human speech. The report adds that each of the reviewer is expected to prase nearly 1,000 audio clips in each shift of nine hours. The determining factor in whether Amazon's actions represent a privacy concern as the determining factor might be how "cautious Amazon and other companies are in what type of information they ... (more...)
Is A Downturn Overdue? Wells Fargo & Company (WFC), NIO Inc. (NIO)? Is A Downturn Overdue? Wells Fargo & Company (WFC), NIO Inc. (NIO)?
- April 13, 2019

Watching the Moving Average Rating, we can see that the indicator is now pointing to a "Strong Sell" on shares of Wells Fargo & Company (NYSE: WFC ). WFC investor Warren Buffett advises the company to recruit someone who doesn't have a Wall Street resume. (more...)
Fisher-Price 'Rock 'n Play Sleepers' officially recalled after infant deaths Fisher-Price 'Rock 'n Play Sleepers' officially recalled after infant deaths
- April 13, 2019

Fisher-Price has issued a recall for all Rock 'n Play Sleepers following reports of deaths when infants roll over. "By not fully compensating consumers, Fisher-Price is assuring that many consumers will instead choose to keep the product", said Nancy Cowles, executive director of Kids in Danger, a nonprofit that focuses on reducing childhood injuries from consumer products. (more...)
Baby sleeper linked to 32 infant deaths, parents warned Baby sleeper linked to 32 infant deaths, parents warned
- April 13, 2019

Consumers Reports has argued that the safety alert doesn't go far enough , and that a full recall of the product by Fisher-Price is necessary. "Fisher-Price warns consumers to stop using the product when infants can roll over, but the reported deaths show that some consumers are still using the product when infants are capable of rolling and without using the three-point harness restraint", according to the agency . (more...)
U.S. House approves net neutrality bill but legislation faces long odds U.S. House approves net neutrality bill but legislation faces long odds
- April 12, 2019

Republican Rep. Greg Walden of OR, the top GOP lawmaker on the House Energy and Commerce Committee, which oversees the FCC, blasted the bill as "another plank in [Democrats'] socialist agenda". Republicans, which are widely against Net Neutrality, now have a 53% share of the Senate with Democrats holding 47%. To that end, opponents of the House bill have slammed it as a political stunt aimed at rallying Democratic voters ahead of the 2020 presidential elections. (more...)
India's Jet Airways stake sale extended India's Jet Airways stake sale extended
- April 12, 2019

To be certain that genuine parties are bidding, SBI Caps, the merchant banker undertaking the task, said all members of the consortium have to provide their details, which then have to be certified by their managing director or chief executive director. (more...)
Jet Airways on its final descent? Grounds Northeast ops; suspends global services Jet Airways on its final descent? Grounds Northeast ops; suspends global services
- April 12, 2019

Till recently, the airline operated flights, including Airbus A330s, Boeing 777s, 737-800 and ATRs, to various destinations such as London, Toronto, Singapore, Amsterdam, Paris and Bangkok. Indian carriers with at least 20 planes in its fleet are allowed to fly overseas. Civil Aviation Secretary Pradeep Singh Kharola said last week that only 26 aircraft are operational while Jet Airways last month said it is now flying 35 planes. (more...)
Alphabet’s Wing Launches Drone Delivery Service in Canberra Alphabet’s Wing Launches Drone Delivery Service in Canberra
- April 12, 2019

Limited drone deliveries courtesy of Wing are now available in Australia's capital city of Canberra, the drone service announced on Monday . The company said it had been delivering "food and drinks, over-the-counter chemist items, and locally-made coffee and chocolate". (more...)
Uber finally unveils its highly anticipated IPO filing Uber finally unveils its highly anticipated IPO filing
- April 12, 2019

The ride-sharing company said it intends to trade on the New York Stock Exchange under the ticker " UBER ". The world's largest taxi-hailing company revealed that it made a $3 billion operating loss previous year as it published the prospectus for its initial public offering (IPO ). (more...)
China's Economic Planner Seeks to Ban Crypto Mining China's Economic Planner Seeks to Ban Crypto Mining
- April 12, 2019

The public has until May 7 to comment on the draft. A date for any ban that is introduced has not been announced. The announcement has not had any noticeable effect on the price of Bitcoin , which is now trading at its highest level since November 2018. (more...)
White House defends Trump's Fed choices White House defends Trump's Fed choices
- April 11, 2019

Herman Cain , President Trump's newest candidate to join the Federal Reserve board, ruminated in a video posted to Facebook Friday evening about the potential nomination, cautioning about what he believed would likely be a lengthy and "cumbersome" vetting process. (more...)
Burger King pull Burger King pull "racist" chopsticks advert
- April 11, 2019

The ad featured several people trying (and failing) to eat a Vietnamese-themed burger using chopsticks. People quickly started tagging the Burger King creative team and demanding they address the racially insensitive ad. Mo told HuffPost she chose to post the video because she was shocked to see it in the first place. She added that the ad was created "as though their thought process went, 'what's Asian? Say no to every single manifestation of it", she tweeted . (more...)
Ghosn decries 'plot' in video statement Ghosn decries 'plot' in video statement
- April 11, 2019

In a new video, Ghosn defended his innocence against multiple allegations of financial misconduct, claiming conspiring Nissan execs are to blame for his ousting from the company, reported CNN . A statement released through his lawyers described his return to custody as, "another attempt by some individuals at Nissan to silence me by misleading the prosecutors". (more...)
Venezuela, Saudi oil output slumps: OPEC Venezuela, Saudi oil output slumps: OPEC
- April 11, 2019

As a result, Brent and WTI crude oil futures have risen by around 30 percent and 40 percent respectively since the start of the year. Russia , the largest non-OPEC supplier said on Tuesday that it prefers to increase supply when the current production cuts end in June. (more...)
Crown shares plunge after Wynn takeover offer collapses Crown shares plunge after Wynn takeover offer collapses
- April 10, 2019

But it plunged to A$12.55 in early Sydney trading Wednesday, from A$14.05 at the close on Tuesday, after Wynn said overnight it had "terminated all discussions with Crown" due to their "premature disclosure". At A$12.86, the stock remained nearly 10 percent higher than its last price before Wynn's approach was disclosed, suggesting hope for a deal had not completely evaporated. (more...)
International Monetary Fund cuts growth outlook for Canada in 2019 International Monetary Fund cuts growth outlook for Canada in 2019
- April 10, 2019

In its April 2019 World Economic Outlook ( WEO ) report released Tuesday evening Manila time, the Washington-based International Monetary Fund cut its growth projection for this year from 6.6 percent previously, even as it projected growth next year at a slightly faster 6.6 percent. (more...)

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