Economy

Economy ByteDance Expected To Launch Music Streaming Service 11/19/2019
Author: 0 ByteDance Expected To Launch Music Streaming Service 11/19/2019

TikTok is increasingly becoming more popular across the globe and it makes sense for its Chinese creators, ByteDance , to expand its offerings. As with TikTok , the experience is geared towards sharing the resulting clips with friends, and the UI is designed for vertical use.

Economy Trump and Powell discuss economy, interest rates
Author: 0 Trump and Powell discuss economy, interest rates

Powell has long insisted policymakers disregard politics when setting policy. Powell regularly meets with members of Congress from both parties. Fed chairs are appointed to four-year terms, but once confirmed by the Senate are meant to be insulated from White House political pressure over how to manage monetary policy.

Economy Vegans Sue Burger King Over 'Meat Contaminated' Whopper
Author: 0 Vegans Sue Burger King Over 'Meat Contaminated' Whopper

With the Impossible Whopper having a demonstrated impact on Burger King's bottom line (inspiring a 5% sales growth during the third quarter of 2019 according to CNN ), even European BK's are expanding the meatless craze. According to the suit, Williams ordered the fake-meat burger in Atlanta, where he lives, but was horrified to learn that his burger was grilled on the same surface as the chain's beef burgers.

Economy Chick-fil-A cuts charity ties with anti-LGBTQ groups
Author: 0 Chick-fil-A cuts charity ties with anti-LGBTQ groups

The Chick-fil-A Foundation has donated millions to both Christian organizations, according to Reuters . Chick-fil-A has a long history of being on the receiving end of criticism from LGBT rights groups. According to a statement provided to Business Insider from Chick-Fil-A, those deals were fulfilled in 2018 and were not renewed. The company is also pledging $25,000 to local food banks in areas where it opens new restaurants.

Economy WeWork could lay off thousands as turmoil grows
Author: 0 WeWork could lay off thousands as turmoil grows

In the statement published on Sunday, it said that the start-up might lay off almost 2000-2500 employees in the main office space renting business. As many as 6,000 employees could be laid off, a source told the Times . Last week, WeWork told investors it lost $1.25 billion on revenue of $934 million in the third quarter - losses were up more than 150% from the same period a year ago.

Economy Ford Takes on Tesla With the Its New Electric Mustang SUV
Author: 0 Ford Takes on Tesla With the Its New Electric Mustang SUV

The newest model even still purrs like a Mustang. It's scheduled to go on sale late next year. And yes: It has a frunk! It also features a Tesla-like front-trunk as well as keyless activation which can be operated via a smartphone app. "Also on the plus side, the Mustang Mach-e is a sport utility, the most popular body style by a long shot, with not a lot of competitors", Cox Automotive senior analyst Michelle Krebs said, noting that most EVs are cars.

Economy Aurora Cannabis (NYSE:ACB) Announces Earnings Results
Author: 0 Aurora Cannabis (NYSE:ACB) Announces Earnings Results

Analysts expect that Aurora Cannabis will post -0.11 earnings per share for the current year. For the next year, analysts anticipate that the firm will report sales of $692.73 million, with estimates ranging from $310.64 million to $912.00 million.

Economy United Kingdom police probe claim of Tory corruption
Author: 0 United Kingdom police probe claim of Tory corruption

Speaking at the CBI's annual conference, Johnson will say that while big businesses made clear they were not in favour of Brexit in 2016, they were also now clear they wanted certainty. It has been going on. "It has been going on, without a shadow of a doubt". But he added: "The Labour Party has spent most of the last week not talking about Brexit but trying to persuade voters on the Leave side of the argument to come to the Labour Party on the basis of its domestic agenda".

Economy Weekly oil prices edge up amid concerns over global demand
Author: 0 Weekly oil prices edge up amid concerns over global demand

Investors look to U.S. Meanwhile, the Joint Organizations Data Initiative (JODI) on Monday reported that Saudi Arabia's crude oil exports fell to 6.67 million barrels per day (bpd) in September from 6.88 in August but failed to help the WTI turn north.

Economy HP Rejects Xerox’s $33.5 Billion Buyout Offer
Author: 0 HP Rejects Xerox’s $33.5 Billion Buyout Offer

The rejection comes less than two weeks after The Wall Street Journal (WSJ) reported that Xerox was looking to acquire HP's PC business with a cash-and-stock deal worth $33.5 billion, which is more than HP's current market value of around $27 billion.

Economy Pegasus-like spyware targeting WhatsApp using MP4 video files
Author: 0 Pegasus-like spyware targeting WhatsApp using MP4 video files

Facebook , which owns WhatsApp messenger, warned several days ago about a system vulnerability that allows hackers to send " a specially crafted MP4 file " to its Android and iOS users. "WhatsApp is constantly working to improve the security of our service". "In this instance, there is no reason to believe that users were impacted", a WhatsApp spokesperson told HackerNews .

Economy LINE and Yahoo Japan Considering Business Combination - 비즈니스코리아
Author: 0 LINE and Yahoo Japan Considering Business Combination - 비즈니스코리아

SoftBank Corp. a cell unit of telecom and financial investment huge SoftBank Group, holds a 44-per cent stake in Z Holdings, even though Line is managed by Naver. The company's reach will expand to Thailand, Taiwan and Indonesia, where Line commands large market shares, and eventually worldwide, said Line CEO Takeshi Idezawa.

Economy Michigan Recreational Pot Sales to Begin in December
Author: 0 Michigan Recreational Pot Sales to Begin in December

Provisioning centers transferring to retailers on the recreational side can transfer up to 50 percent of each product type, though it must have been in inventory for at least 30 days. The Marijuana Regulatory Agency issued an advisory bulletin on November 13. Medical marijuana advocates and industry insiders really surprised by the announcement and spoke with a group of patients to determine how bad it really will affect the patient or not, said Robin Schneider, executive director for the ...

Economy Supreme Court to hear copyright case pitting Google against Oracle
Author: 0 Supreme Court to hear copyright case pitting Google against Oracle

A federal appeals court ruled in Oracle's favor past year. Oracle had previously asked for $8.8 billion in damages . Oracle says it wants almost $9 billion from Google. "We believe the Court will reject any reasoning that permits copying verbatim vast amounts of software code, used for the same objective and same way as the original", said Oracle's Deborah Hellinger in an emailed statement Friday.

Economy Warren Buffett's Berkshire Hathaway reveals new RH, Occidental stakes
Author: 0 Warren Buffett's Berkshire Hathaway reveals new RH, Occidental stakes

Since then, Buffett's cash pile has grown by about $16 billion and stock-market valuations have only gotten more expensive as the S&P 500 has rallied more than 24 percent this year touching a fresh record. Occidental dropped to a 14-year low earlier this month after Chief Executive Officer Vicki Hollub unveiled a plan to slash capital spending by 40% to deal with the debt taken on in its $37 billion takeover of Anadarko.

Economy Apples warned of the risk of German law to open mobile payments
Author: 0 Apples warned of the risk of German law to open mobile payments

This came in the form of an amendment to an anti-money laundering law that was adopted late on Thursday by the full parliament and is set to come into effect early next year. In the latter case, it stands to reason that requiring users to open third-party apps specifically to make payments would be considerably more cumbersome than the way in which Apple Pay now works; although Apple could certainly redesign iOS to allow for other default payment apps, it probably has little incentive to do ...

Economy Aramco declares $1.71 trillion valuation in blockbuster IPO
Author: 0 Aramco declares $1.71 trillion valuation in blockbuster IPO

The listing is likely to proceed in December, according to the company's stated timeline. Saudi Aramco will sell up to 1.5% of the world's most profitable company at between 30 riyal and 32 riyal a share (around 600-610p per share) through its market debut, it announced on Sunday.

Economy Oil prices up as hopes build for OPEC supply curbs
Author: 0 Oil prices up as hopes build for OPEC supply curbs

China was the largest contributor, with demand increasing by 640,000 bpd year-on-year, and the IEA forecasts a year-on-year acceleration in global growth of 1.9 million bpd for the final quarter of 2019. In July, the alliance, known as OPEC+, renewed the pact until March 2020. Nigeria, the African leader in oil production, saw its daily production fall to 1.811 million barrels per day, a drop of 37,000 barrels compared to 1.848 million barrels in September (revised downwards, compared to the ...

Economy Bill Gates tops Jeff Bezos as world’s richest person with Amazon slide
Author: 0 Bill Gates tops Jeff Bezos as world’s richest person with Amazon slide

Gates may have been helped in part by the Pentagon's surprise decision to award a US$10 billion cloud-computing contract to Microsoft. But Gates' time at the top was short-lived. markets close. Mr Gates' income was propelled by his Microsoft stocks, which went up 48 per cent in 2019. Jeff Bezos recently divorced his wife Mackenzie.

Author: 0 Amazon Appeals Pentagon's Choice Of Microsoft For $10 Billion Cloud Contract

The Federal Times cited a video of Amazon Web Services CEO Andy Jassy at a company meeting citing political pressure and Trump's criticism of Amazon and CEO Jeff Bezos . Both were said to have been involved in the JEDI selection process. Amazon said it filed a notice in a U.S. court last week signaling its intent to protest the handling of the bidding process, which the Department of Defense maintained was fair.

Economy Instagram expands hidden likes test worldwide
Author: 0 Instagram expands hidden likes test worldwide

If you're in the test, you'll no longer see the total number of likes and views on photos and videos posted to Feed unless they're your own. The test is now global and Instagram took to Twitter this morning in hopes of reassuring content creators who make money off their posts.

Economy Stocks End Day Flat As Cisco Weighs on Market
Author: 0 Stocks End Day Flat As Cisco Weighs on Market

High-dividend stocks like utilities and makers of consumer products were doing better than the rest of the market. Stocks are opening slightly lower on Wall Street led by declines in banks and industrial companies. The yield on the 10-year Treasury fell to 1.88%. And the Federal Reserve has helped, lowering interest rates three times this year. The yield on the 10-year Treasury note slipped to 1.88% from 1.91% late Friday.

Economy Oil retreats from 7-week high on mixed trade-war signals
Author: 0 Oil retreats from 7-week high on mixed trade-war signals

Brent crude futures LCOc1 edged down 16 cents, or 0.3%, to $61.90 a barrel by 0124 GMT, while U.S. West Texas Intermediate crude CLc1 was at $56.65, down 15 cents or 0.3%. On the negative side, another significant build in United States crude oil supplies have dented the mood among traders in line with downbeat headlines from the OPEC+ event next month.

Economy Fire danger causes Nissan to recall over 450000 vehicles
Author: 0 Fire danger causes Nissan to recall over 450000 vehicles

The recall affects four different models in the USA: the Nissan Murano SUV, model years 2015 to 2018; Maxima sedans, model years 2016 to 2018; and the Infiniti QX60 and Nissan Pathfinder SUVs, model years 2017 to 2019. Dealers will replace the pumps. Owners should expect to see notices from Nissan by December 2. The company said the problem is in the battery terminal fastener and could lead to a stall and electrical shorts that could cause fires, though it said it isn't aware of any fires, ...

Economy Uber faces $650m U.S. tax bill for its drivers
Author: 0 Uber faces $650m U.S. tax bill for its drivers

The state's labor department accuses the ride-hailing firm of misclassifying its employees as independent contractors and says Uber and its Rasier subsidiary should have to pay several years' worth of taxes, interest, and penalties. For the reasons of gathering the aforementioned taxes, New Jersey's Section of Labor created the perseverance that Uber's rideshare drivers are, in reality, employees-which may perhaps be a prelude to identifying complete worker status for motorists in the point out.

Economy CWU:
Author: 0 CWU: "The High Court has ruled against us"

And on the outset of a ruling in London right now, Mr Justice Swift stated he had determined that there ought to be an order for an injunction. Members of the Communication Workers Union (CWU) had earlier voted to go on strike, saying that the company had failed to adhere to a pension deal agreed previous year, but the court ruled that that ballot was unlawful.

Economy Australian mining giant BHP appoints new CEO
Author: 0 Australian mining giant BHP appoints new CEO

BHP Chairman Ken MacKenzie said his deep operational and commercial experience in a career spanning the Americas, Europe, Asia and Australia made a "perfect mix" for a BHP CEO. He will receive a base salary of $US1.7 million ($2.5 million), with a potential short-term cash and stock bonus of up to 80 per cent of his base and a long-term incentive of up to 200 per cent, subject to shareholder approval.

Economy Germany dodges recession with household and government spending spree
Author: 0 Germany dodges recession with household and government spending spree

The quarter two growth rate revised from -0.1% to -0.2%. And that weakness in industry spreads to the rest of the economy. Economic woes are largely attributable to the ongoing uncertainty caused by Brexit and trade tensions between China and the U.S., as well as the European Union and the US.

Economy Yen slips on China-U.S. deal hopes, trade-linked currencies rise
Author: 0 Yen slips on China-U.S. deal hopes, trade-linked currencies rise

Trade talks between Washington and Beijing are nearing a successful conclusion and are now ongoing on a daily basis, the White House's top economic official said. The Dow Jones Industrial Average .DJI rose 222.93 points, or 0.8%, to 28,004.89, the S&P 500 .SPX gained 23.83 points, or 0.77%, to 3,120.46 and the Nasdaq Composite .IXIC added 61.81 points, or 0.73%, to 8,540.83.

Economy China's economy grinds lower as October indicators miss forecasts
Author: 0 China's economy grinds lower as October indicators miss forecasts

Retail sales rose 7.2% year-on-year in October, data from the National Bureau of Statistics showed on Thursday, compared with an expected 7.9%. Fixed asset investment was also sluggish growing at an annualised pace of 5.2% in the first 10 months of the year, the weakest on record.

Economy Vodafone threatens to quit India over tax demands
Author: 0 Vodafone threatens to quit India over tax demands

Bharti Airtel also posted its highest loss ever of 230.45 billion rupees ($3.2 billion) during the September quarter. The Voda Idea CEO is hopeful that the government may extend AGR-specific relief "on the (quantum) of interest, penalties and interest on penalties as well as the principal amount after adjustment for errors", adding that "a payment plan spread over a larger period of time would be very helpful".

Economy Fed's Powell said no 'warning signs' in US economy
Author: 0 Fed's Powell said no 'warning signs' in US economy

Some economists argue there is much more room than thought, while others feel that the return to $1 trillion annual federal deficits under the administration of US President Donald Trump will cause trouble eventually. US GDP growth slowed to 1.9 percent in the third quarter from 2.5 percent in the previous three months and while that was partly due to a 40 day strike at General Motors, trade conflicts also have weakened business investment and "weighed on exports and manufacturing this ...

Economy WeWork losses widen to $1.25 billion amid record growth
Author: 0 WeWork losses widen to $1.25 billion amid record growth

The coworking startup's net loss ballooned by more than 150% to $1.25 billion, and its available cash shrank by about 40% in three months to about $1.3 billion. SoftBank, which gained preserve a watch on of the firm closing month after the departure of founder and light chief govt Adam Neumann, is anticipated to attach thousands of job cuts.

Economy Tariffs' removal a 'condition' for US trade deal, says China
Author: 0 Tariffs' removal a 'condition' for US trade deal, says China

Last month, Trump announced on Twitter that he is working on a " phase one " trade agreement with China that is "60%" done, but has made no promises about completely removing tariffs. Trump postponed a planned tariff hike on $250 billion of Chinese goods after announcing the "Phase 1" agreement October 12. A teleconference between deputy-level officials scheduled for late Wednesday night in Washington was expected to cover issues beyond agriculture such as intellectual property, forced ...