Economy

Economy Google fined $57 million for lack of transparency
Author: 0 Google fined $57 million for lack of transparency

The fine was levied, CNIL said, because Google made it too hard for users to find essential information, "such as the data-processing purposes, the data storage periods or the categories of personal data used for the ads personalisation", by splitting them across multiple documents, help pages and settings screens.

Economy Musk tweets Tesla to end customer referral plan because of costs
Author: 0 Musk tweets Tesla to end customer referral plan because of costs

The electric auto and solar panel maker notified its employees about the staff cuts and other plans in an email posted on Tesla's website. The Palo Alto, California-based company said it unaudited results indicate it will post a GAAP profit for its fourth quarter ended December, 31, 2018.

Author: 0 China's population growth slows in 2018

After years of breakneck growth, the world's second largest economy is losing steam, evidenced by slowing consumer spending , manufacturing output, and investment. While China watchers advise caution with Beijing's official GDP numbers, the data is seen as a useful indicator of the country's growth trajectory.

Economy Trump offers protection for immigrants in USA in exchange for wall funds
Author: 0 Trump offers protection for immigrants in USA in exchange for wall funds

The shutdown, now in its 29th day, has left hundreds of thousands federal workers suffering . Many public services available to Americans have also been canceled during the closure. While Democratic leaders have largely rejected the porposal, Sen. In a briefing for reporters after Trump's remarks, the aides acknowledged that the bill faces a hard path in the Senate, where it would require 60 votes to overcome a filibuster.

Economy China offers to ramp up USA imports to address trade surplus
Author: 0 China offers to ramp up USA imports to address trade surplus

US negotiators are skeptical of the offer and its timeline. US Secretary of the Treasury Steven Mnuchin discussed lifting some or all tariffs on Chinese goods and suggested offering a tariff rollback during trade discussions scheduled for January 30, the Wall Street Journal reported on Thursday, citing people familiar with the internal deliberations.

Economy Oil slips on near-record United States production, demand fears
Author: 0 Oil slips on near-record United States production, demand fears

OPEC's share of that cut is 800,000 bpd. OPEC's monthly report showed it had made a strong start in December even before the pact went into effect, implementing the biggest month-on-month production drop in nearly two years. Oil supplies from OPEC nations plunged by 751,000 barrels per day to almost 31.6 million bpd, according to independent figures cited by OPEC in its monthly report.

Economy John Bogle, Vanguard founder, dies at 89
Author: 0 John Bogle, Vanguard founder, dies at 89

Its sister fund, Vanguard Institutional Index Fund, has 221.5 billion dollars in assets, according to the company. Bogle's influence was not limited to lowering the cost of investments via passive funds, Orbis Investments director Dan Brocklebank told Portfolio Adviser .

Economy Lotus Cars to Be Built in China, Report Says
Author: 0 Lotus Cars to Be Built in China, Report Says

Further from the reports, Hubei province's planning authority had approved the plans of Geely for the plant last month. Approval documents for the plant also show the facility is approved to manufacture all-electric battery cars , electric hybrids, as well as combustion engine cars such as those Lotus now produces.

Economy Startups write to PM, seek abolition of 'Angel Tax'
Author: 0 Startups write to PM, seek abolition of 'Angel Tax'

To claim tax exemption, a startup will have to apply, with all the documents to be recognised as a start-up, to the DIPP , which, in turn, will forward it to the Central Board of Direct Taxes with necessary documents. Similarly, investors would also have to give its net worth details and return of income. It added that the notices primarily question the high share premium at which the shares have been allotted during the angel funding.

Economy Shopko announces filing for bankruptcy
Author: 0 Shopko announces filing for bankruptcy

The company made the move Wednesday, saying in a statement that the retailer had amassed $480 million in debt. In addition to the 38 stores to be closed, Shopko will also be relocating 20 Shopko Optical Centers to freestanding locations. For the stores that remain open, it will be business as usual, the company said. Shopko was founded by a pharmacist in 1962, and became a publicly traded company in 1991.

Economy Dow Jones Gets Huge Boost: Goldman Sachs Soars 9%
Author: 0 Dow Jones Gets Huge Boost: Goldman Sachs Soars 9%

Hilton Mgmt Ltd Llc owns 1,435 shares for 0.05% of their portfolio. 252.31 million shares or 2.19% less from 257.97 million shares in 2018Q2 were reported. Bank of America and Goldman Sachs gave a new lift to a strengthening banking sector, reporting better-than-expected earnings for the fourth quarter.

Economy The Number of Federal Workers Seeking Unemployment Doubled Last Week
Author: 0 The Number of Federal Workers Seeking Unemployment Doubled Last Week

Benefits are generally not given to "excepted" federal workers who are still working but won't be paid until the shutdown is over, according to the Office of Personnel Management (OPM). Like those non-critical workers sitting at home, contract workers, who are largely in service jobs, do not expect to be paid until Congress and the president come to an agreement to resume appropriations.

Economy Huawei is accused by USA prosecutors of stealing trade secrets
Author: 0 Huawei is accused by USA prosecutors of stealing trade secrets

This could lead to a similar situation with ZTE where the company has been banned from getting access to U.S. technology. But according to a report from the Wall Street Journal , the U.S. "Huawei is effectively an intelligence-gathering arm of the Chinese Communist Party whose founder and CEO was an engineer for the People's Liberation Army".

Economy USA shutdown: Trump to sign off on back pay for federal workers
Author: 0 USA shutdown: Trump to sign off on back pay for federal workers

The shutdown began on Dec 22 after Trump insisted he would not sign legislation funding the idled government agencies unless it included more than US$5 billion (S$7 billion) for the border wall . Representative Jim Jordan of the House Freedom Caucus, a group of conservative Republicans who are close allies of Trump , said Pelosi's move showed the lengths to which Democrats will go to obstruct the president.

Economy Burger King Shade: Sorry, We're All Out Of Hamberders
Author: 0 Burger King Shade: Sorry, We're All Out Of Hamberders

Guests attending a reception for the Clemson Tigers grab fast food sandwiches in the State Dining Room of the White House. White House chefs would normally serve much fancier fare, but they are furloughed, staying home without paycheques as Trump fights with Congress over funding for a southern border wall.

Economy Pound steady as Tories face no-confidence vote
Author: 0 Pound steady as Tories face no-confidence vote

But opposition Labour leader Jeremy Corbyn said he would only meet May if she could "remove clearly, once and for all the prospect of the catastrophe of a no-deal Brexit ". Germany will do all it can in the coming days to ensure that a deal is in place for when Britain leaves the European Union, Foreign Minister Heiko Maas said on Thursday.

Economy Taiwan says it won't bow to pressure amid China tension
Author: 0 Taiwan says it won't bow to pressure amid China tension

US-China relations have become increasingly frayed on the military and economic fronts over the past year. "Furthermore, China sees itself as an emerging major power that will be able to gain influence as long as it can maintain a stable periphery".

Economy China's global trade surplus fell in 2018: Customs
Author: 0 China's global trade surplus fell in 2018: Customs

The on-going conflict between the United States and China over trade, together with a slowdown in China's domestic economy , has already begun to affect some USA companies that rely on China for parts and labour. China's export growth is expected to have eased for a second straight month in December as global demand weakened, raising pressure on Beijing as it tries to reach a trade deal with Washington .

Economy Strike Forces Lufthansa to Cancel 800 Flights
Author: 0 Strike Forces Lufthansa to Cancel 800 Flights

Some of Germany's largest and busiest airports are facing a possible strike by security staff on Tuesday. However, it added that some flights to and from airports affected by the walkout would be cancelled. "Verdi is unjustifiably carrying out these strikes on the backs of travellers, airlines and airports", ADV head Ralph Beisel said in a statement. The union is calling for aviation security personnel across the country to be paid 20 euros (23 dollars) an hour.

Economy Oil Markets on Track to Balance
Author: 0 Oil Markets on Track to Balance

The Organisation of the Petroleum Exporting Countries ( OPEC ), and other leading global oil producers led by Russian Federation, agreed in December to cut their combined oil output by 1.2 million barrels per day starting from January to prevent a supply glut and boost sagging prices.

Economy DOJ pursuing criminal charges against Huawei for theft of tech
Author: 0 DOJ pursuing criminal charges against Huawei for theft of tech

T-Mobile alleged in a 2014 lawsuit that Huawei employees stole technology relating to a smartphone-testing robot T-Mobile had in a lab in Bellevue, Washington. Similar cases might also come to light during the investigation and the DOJ is reportedly already close to indicting Huawei. Huawei CFO Meng Wanzhou was arrested in the Canadian city of Vancouver on 1 December 2018, reportedly, for failing to comply with the USA sanctions against Iran, and now faces extradition to the United States.

Economy Reaction to MPs voting against Theresa May's Brexit plan
Author: 0 Reaction to MPs voting against Theresa May's Brexit plan

After the biggest defeat for any British government since the 1920s, May promised to consult with senior lawmakers on future moves, but gave little indication of what she plans to do next. With the clock ticking down to March 29, the date set in law for Brexit, the United Kingdom is now ensnared in the deepest political crisis in half a century as it grapples with how, or even whether, to exit the European project that it joined in 1973.

Economy SUVs, trucks and sports cars take center stage at Detroit auto show
Author: 0 SUVs, trucks and sports cars take center stage at Detroit auto show

Cadillac is the latest of big name auto makers to show their support for an all-electric future. DETROIT - Cadillac furthered its recent product blitz today with the reveal of the brand's first EV. The EV's name and specific details regarding its powertrain and range will be revealed closer to an also yet-unspecified launch window. But, other body styles will follow this crossover, and in short succession too - aforementioned flexibility means each future EV will have a short design and ...

Economy Brexit vote: Donald Tusk suggests United Kingdom should stay in EU
Author: 0 Brexit vote: Donald Tusk suggests United Kingdom should stay in EU

He said: "The PM has not answered on the customs union, she has not answered on no-deal and continues to spend £4.2 billion of public money on a no-deal scenario". Labour leader Jeremy Corbyn has tabled a vote of no confidence in the government. If she wins Wednesday's confidence vote she will meet the leaders of the opposition parties in a "constructive spirit" to discuss the way forward, May said .

Economy Top auto awards go to Hyundai and Ram
Author: 0 Top auto awards go to Hyundai and Ram

According to the auto of the Year guidelines, the awards recognize the most outstanding vehicles of the year innovation, design, safety, handling, driver satisfaction and value for the dollar. Every year, after months of driving dozens of cars throughout the year, NACTOY jurors pick award winners for "North American Car of the Year ", "North American Utility of the Year", and "North American Truck of the Year ".

Economy McDonald's loses 'Big Mac' trademark battle to Irish fast food chain Supermac's
Author: 0 McDonald's loses 'Big Mac' trademark battle to Irish fast food chain Supermac's

It's a unique victory when you take on the golden arches and win", McDonagh, Supermac's managing director, said. Supermac's managing director Pat McDonagh said it represents a victory for small businesses all over the world. McDonald's, which sells its flagship " Big Mac " burgers internationally, submitted printouts of European websites as evidence, as well as posters, packaging, and affidavits from company representatives attesting to " Big Mac " sales in Europe.

Economy Canada asks China for clemency for convicted drug trafficker
Author: 0 Canada asks China for clemency for convicted drug trafficker

The Dalian Intermediate People's Court in China's northeast province of Liaoning re-tried Schellenberg, who had appealed his original 15-year prison sentence, and decided on execution, the court said. The dispute between China and Canada has rattled the foreign diplomatic community in Beijing, particularly United States allies, which see their citizens could be put in a similar position in the future.

Economy Huawei founder says company would not share user secrets
Author: 0 Huawei founder says company would not share user secrets

Asked about President Donald Trump's suggestion on Twitter that he might intervene in Meng's case if that facilitated a resolution of Washington's tariff battle with Beijing, Ren said he would wait to see whether Trump takes action. And he played down Huawei's role in current tensions between Washington and Beijing, which have rattled investors and corporations worldwide. Huawei, the biggest global supplier of network equipment used by phone and internet companies, is China's first global ...

Economy Ford and VW to collaborate on mid-size pickups, commercial vans
Author: 0 Ford and VW to collaborate on mid-size pickups, commercial vans

If Ford is helping VW to build a better next-generation Amarok , what are the Americans getting from their new German partners? The partnership will help cut development costs and optimise factory capacity, Volkswagen said . South African bakkie enthusiasts can keenly anticipated a next generation of Ranger and Amarok which perhaps combine the best of what both brands offer: Ford's traditional bakkie ruggedness and workability with VW's car-like bakkie cabin environment and cruising ...

Economy Freshman Democrats march to McConnell's office to urge him to reopen government
Author: 0 Freshman Democrats march to McConnell's office to urge him to reopen government

While the shutdown hit about one-quarter of federal operations, a Reuters/Ipsos poll released on Tuesday found that almost four in 10 United States adults said they were either affected by the impasse or know someone who is. But hopes of side deals being cut by the White House seemed unlikely, as did the prospect of groups of senators meeting privately to forge a compromise.

Economy Alexandria Ocasio-Cortez to join House Financial Services Committee
Author: 0 Alexandria Ocasio-Cortez to join House Financial Services Committee

President Trump clashed with Rep. Ocasio-Cortez, the youngest woman ever elected to Congress, is driving more Twitter conversation than any American politician other than Trump. She also took a shot at Trump's supposed wealth by saying he probably has nothing to fear from her proposal to fund a new environmental protection plan with a 70 percent income tax on the super wealthy.

Economy Canadian aviation crews send pizza to NY colleagues affected by shutdown
Author: 0 Canadian aviation crews send pizza to NY colleagues affected by shutdown

Air traffic controllers in the United States are working without pay because of the government shutdown-but thanks to their counterparts north of the border, many of them aren't working without pizza. Duffey believes that by Sunday afternoon, an estimated 300 pizzas had been sent by union members who were looking for a way to support their American colleagues, who then took to social media to thank them.

Economy United Kingdom lawmakers reject Brexit deal in 432-202 vote
Author: 0 United Kingdom lawmakers reject Brexit deal in 432-202 vote

She said: "I am a massive pro-European so the day after the referendum vote I woke up, looked at my kids and thought I had to something so I joined the Liberal Democrats". But the deal was doomed by deep opposition from both sides of the divide over U.K.'s place in the bloc. The majority of 230 was by far the biggest on record, higher than the 166 defeat for the Labour minority government in 1924.

Economy China-U.S. Trade Gap Grew to Biggest Ever in 2018
Author: 0 China-U.S. Trade Gap Grew to Biggest Ever in 2018

The Customs office is expected to release trade numbers for December later in the day. The spokesman added that China had mostly exported electromechanical goods to Russian Federation, while purchased oil, coal, and wood. The customs administration said it will work to "improve the country's business environment and expand foreign trade in order to keep employment, the financial sector, foreign trade, foreign investment" stable.