Economy

Economy Nothing Gold Can Stay: Royal Mint Cancels Gold-Backed Cryptocurrency Plans
Author: 0 Nothing Gold Can Stay: Royal Mint Cancels Gold-Backed Cryptocurrency Plans

The project would have been the first time a government of a developed economy had become directly involved with a crypto currency exchange, analysts and traders said. Governments are wary of cryptocurrencies, and few worldwide standards have emerged to tame extreme price volatility, regular thefts from exchanges and the risk that digital currencies could be used to launder money or finance terrorism.

Economy IBM to acquire Red Hat in deal valued at $34B
Author: 0 IBM to acquire Red Hat in deal valued at $34B

Red Hat will remain a distinct unit in IBM. On its part, IBM said it is committed to Red Hat's role as an open source contributor. With that said, IBM has always been an open source proponent , so maybe it will work out well. "IBM will become the world's No. 1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses".

Economy USA economy grew at 3.5% in Q3
Author: 0 USA economy grew at 3.5% in Q3

Shares of Caterpillar Inc., an economic bellwether, tumbled this week after the maker of mining and construction equipment said manufacturing costs were higher due to rising material and freight costs. "I think we will see a significant slowdown, in part because economic growth has been raised to an artificially high level by the tax cuts", said Sung Won Sohn, chief economist at SS Economics in Los Angeles.

Economy Seed stage funding falls 20%, late stage funding grows 259%
Author: 0 Seed stage funding falls 20%, late stage funding grows 259%

The IT industry association, whose remit includes safeguarding technology startups in India against regulatory and legal hurdles, has instead urged the nascent crypto sector to take up any grievances directly with the government. These companies created 40,000 new direct jobs while there was three-fold increase in indirect jobs. The increase in Indian unicorns this year can be attributed to the sharp upswing in late stage funding.

Economy Oil tumbles for third week 'as fear selling spreads'
Author: 0 Oil tumbles for third week 'as fear selling spreads'

Crude shed 8.3% of its value so far this month, wiping out all the gains of August and September. "The energy complex is maintaining a relatively strong correlation with daily swings in the US stock market since the huge up and down equity fluctuations have become too large to ignore", Jim Ritterbusch, president of Ritterbusch and Associates, said in a note.

Economy Dyson chooses Singapore over Britain to build electric car
Author: 0 Dyson chooses Singapore over Britain to build electric car

CEO Jim Rowan, is well known for his support of The Brexit . " Singapore has only a small automotive industry, but its location in the middle of Asian trade routes makes it very attractive in terms of supply chains", said Ana Nicholls, an analyst at the Economist Intelligence Unit.

Economy Plant City man wins $3 million in Mega Million drawing
Author: 0 Plant City man wins $3 million in Mega Million drawing

Mr Livingston had to be hospitalised at Jefferson Stafford Hospital and missed out on buying an entry. In other local lotto news, a winning $1 million ticket was sold in Tampa , and a 70-year-old Hudson woman claimed $2 million off a Powerball ticket last week.

Economy Tesla Faces Criminal Probe Over Model 3 Production Claims
Author: 0 Tesla Faces Criminal Probe Over Model 3 Production Claims

In recent weeks, Federal Bureau of Investigation agents have contacted former Tesla employees asking them for testimony in the criminal case. Sources reportedly familiar with the matter tell The Wall Street Journal that the investigation is looking back as far as early 2017.

Economy World billionaire wealth surges to record high $12.6 trillion
Author: 0 World billionaire wealth surges to record high $12.6 trillion

The number of billionaires rose to 2,158 in 2017, Swiss banking giant UBS and consultancy PwC said in a report Friday. More than three new billionaires were minted weekly in Asia past year, and China led the way by creating two new billionaires a week, the report found.

Economy Volkswagen T-Cross: new SA-bound baby crossover revealed!
Author: 0 Volkswagen T-Cross: new SA-bound baby crossover revealed!

Running on the Wolfsburg-based brand's ubiquitous MQB platform , the five-seater T-Cross measures 4,11 metres long, with a wheelbase of 2,56 metres. The new T-Cross is offered with a choice of four engines - 1.0-litre, 3-cylinder turbocharged petrol engine with 94 BHP or 114 BHP, 1.5-litre, 4-cylinder turbo petrol unit with 148 BHP and a 1.6-litre, turbo diesel which produces 94 BHP of peak power.

Economy Tesla Model S scored low for reliability by Consumer Reports
Author: 0 Tesla Model S scored low for reliability by Consumer Reports

Mazda was the most improved brand, climbing nine places. "Just because a vehicle is new, doesn't mean it will be problem-free", said Mike Quincy, of Consumer Reports . Fellow Japanese carmaker Mazda Motor Corp.'s Mazda brand moved up nine spots to third place thanks to the increased reliability of its MX-5 sports model, the magazine said.

Economy United States stocks are signalling a rebound after Wednesday's Wall Street bloodbath
Author: 0 United States stocks are signalling a rebound after Wednesday's Wall Street bloodbath

A turbulent day on Wall Street ended Tuesday with stocks climbing almost all the way out of a steep, broad sell-off that at one point erased more than 500 points from the Dow Jones Industrial Average. Heating oil added 1.2 percent to $2.28 a gallon and natural gas gained 1.1 percent to $3.20 per 1,000 cubic feet. But the recent sell-off has also made stocks slightly cheaper.

Economy Saudi crown prince jokes Lebanon PM 'not kidnapped'
Author: 0 Saudi crown prince jokes Lebanon PM 'not kidnapped'

Martin Indyk, a top Middle East policymaker under Bill Clinton, said President Donald Trump had in effect tried to subcontract policy in the region to Saudi Arabia and Israel as he lessens United States commitments. "There are now those who are trying to take advantage of the painful situation to create a rift between the kingdom and Turkey ", he said. While defending arms sales to Saudi Arabia on business grounds, Trump said: "Don't forget, if it wasn't for us, it could very well be ...

Economy Winning ticket sold for $1.6B jackpot
Author: 0 Winning ticket sold for $1.6B jackpot

BREAKING: One ticket in SC has won the #MegaMillions jackpot of $1.6 billion. "Estimates are based on historical patterns", she explained on Wednesday morning (Thursday NZT) in a phone interview with The Associated Press . But with the chance of matching all six numbers said to be 1 in 302.5 million, it's unlikely there is more than one winning ticket. Still, about half of the approximately 320 million people living in the USA are expected to play in today's Mega Millions drawing.

Economy Somebody Won This Week's $1.6 Billion Mega Millions Lottery
Author: 0 Somebody Won This Week's $1.6 Billion Mega Millions Lottery

According to Michigan Lottery, two winners matched all five white balls. Patel said lottery ticket sales were brisk leading up to Tuesday and he has no idea who bought the victor. "So that excitement, that enthusiasm that is generating right now is what's great about this jackpot". And the third Bay Area-connection to the largest Mega Millions jackpot in history was when someone bought a ticket at an AM/PM gas station in Morgan Hill, matching 5 of the 6 numbers on a ticket, according to ...

Economy Twitter Active User Count on the Decline
Author: 0 Twitter Active User Count on the Decline

While sales and earnings have grown stronger, Twitter has suffered from a drop in user metrics, especially after purging its ranks to eliminate fake accounts - an effort that continues ahead of the USA midterm elections in November. On a conference call with analysts, Dorsey reiterated Twitter's focus on matching up users with the conversations they're interested in. In spite of losing users overall, Twitter says that daily active users are on the rise.

Economy Amazon Falls After Missing Sales Forecast (NASDAQ:AMZN)
Author: 0 Amazon Falls After Missing Sales Forecast (NASDAQ:AMZN)

Amazon launched its Hindi website this quarter, in a bid to reach the next 100 million customers in India. "And when you're trading on 70 times expected earnings, it doesn't take much to jolt the share price". Thanksgiving holiday in late November through New Year's, was a particular surprise. Even with that wage increase, Amazon is still expected to post a 31 percent rise in operating income from the year earlier to $3.3 billion.

Economy Italy's budget rejected by European Commission
Author: 0 Italy's budget rejected by European Commission

If the confrontation escalates, the Lega and the M5S will use it to increase their voters support for the April elections of the European Parliament. "Careful analysis of the next European budget, clear position of the Italian government: no vote in favour by us if there are cuts to investments, jobs, agriculture, security and immigration", he said .

Economy Police identify man in Ryanair racist rant incident
Author: 0 Police identify man in Ryanair racist rant incident

Mrs Gayle will now be able to give a police statement about the incident, her daughter said. He added that Spanish authorities were therefore responsible for the investigation as it happened in Barcelona. "I don't care whether she's f***ing disabled or not - if I tell her to get out she gets out", the man can be heard shouting. "He should have been moved or taken off the plane and nothing was done ..." Because the offender would have to hand himself in or alternatively Spanish apply under ...

Economy Duke of York 'eager to work closely with Saudi Arabia'
Author: 0 Duke of York 'eager to work closely with Saudi Arabia'

Trump was scheduled to receive an intelligence briefing at 11:30 am (1530 GMT). In the midst of global controversy surrounding the kingdom of Saudi Arabia and the alleged assassination of USA resident journalist Jamal Khasoggi, WWE will continue full steam ahead into the nation next week for its Crown Jewel pay-per-view event.

Economy Tim Cook: Being Gay is 'God's Greatest Gift to Me'
Author: 0 Tim Cook: Being Gay is 'God's Greatest Gift to Me'

The head of Apple on Wednesday endorsed tough privacy laws for both Europe and the US and renewed the technology giant's commitment to protecting personal data , which he warned was being "weaponized" against users. Besides warning of the threat from the growing data industrial complex, Cook also remarked on the following subjects. The tech industry and Congress, meanwhile, have been discussing digital privacy legislation for years.

Economy Cathay Pacific breach leaks personal data on 9.4 million people
Author: 0 Cathay Pacific breach leaks personal data on 9.4 million people

Data breach documents from Hong Kong Exchanges - which operates the Hong Kong Stock Exchange - noted on Wednesday that Cathay Pacific first discovered suspicious activity on its network in March. Those carriers boosted spending on cyber security after hacks, which saw personal and financial information of hundreds of thousands of customers illegally accessed.

Economy ‘Gold diggin’ dog cons McDonald’s customers into giving her food
Author: 0 ‘Gold diggin’ dog cons McDonald’s customers into giving her food

Sharing the footage, Reyes wrote: 'When I caught her ass in the act'. But Reyes made a decision to go one step further and catch her dog in the act and drove to her local McDonald's on Monday night. Reyes posted video of Princess caught red handed - or red pawed, rather. Sure enough she found Princess waiting there for her evening rations. Moreover, she also saw a woman reaching out of her vehicle to probably throw some food at the dog.

Economy United States revokes 21 Saudi visas over Khashoggi death
Author: 0 United States revokes 21 Saudi visas over Khashoggi death

Prince Mohammed vowed to punish those responsible on Wednesday, but media reports have quoted Turkish security sources as saying the operation was run by a top aide to the crown prince. Responding to a question on the probe into the death of Khashoggi, the USA president said, "And where it should have stopped is at the deal standpoint, what they thought about it".

Author: 0 Microsoft's fiscal Q1 2019 profit soars on cloud services

Operating income was $10.0 billion and increased 29%. The company reported a quarterly revenue of $29.1 billion United States dollars (roughly $37.95 billion CAD), as well as an operating income of $10.0 billion USD (roughly $13.04 billion CAD).

Economy European Union rejects Italy's budget in eurozone first
Author: 0 European Union rejects Italy's budget in eurozone first

After the convulsions in euroland in 2010, the EU insisted that Italy appointed one of its own, a former European commissioner, Mario Monti, as prime minister. He also reaffirmed Italy's commitment to the euro. "Experience has shown time and again that higher fiscal deficits and debt do not bring lasting growth".

Economy Ford opens MI plant to relaunch Ranger pickup, Bronco SUV
Author: 0 Ford opens MI plant to relaunch Ranger pickup, Bronco SUV

But the Detroit Free Press reported Ford's head of global operations Joe Hinrichs as saying "never say never" to the idea of the Ranger Raptor, although he then quickly confirmed that there are no plans to make one right now for the U.S. Earlier this year, Michigan Assembly ended Focus production, taking the necessary retooling measures in anticipation for the Ranger's launch. "Our UAW brothers and sisters take great care in the quality and craftsmanship customers will discover when they ...

Economy McDonald's is adding a new breakfast sandwich and it doesn't make sense
Author: 0 McDonald's is adding a new breakfast sandwich and it doesn't make sense

The Triple Breakfast Stack includes two sausage patties, American cheese, bacon and an egg. McDonald's, once the king of breakfast food, is now seeing a slip and is looking to improve its breakfast menu, USA Today reports . Unless we're counting the time you stuffed hash browns into your McGriddle last month, McDonald's says there have been no new "item innovations" on its breakfast menu since its Egg White Delight McMuffin in 2013.

Economy This losing lottery ticket is the most painful thing ever
Author: 0 This losing lottery ticket is the most painful thing ever

Yes, there's a big difference between the estimate and the actual prize, but in part that's because the prize is so huge. Patel tells the Greenville News that he plans to split his cut among the store's four employees. Four second-tier winning tickets worth $1 million each were sold in NY; three were sold in Florida; two each were sold in Massachusetts, Michigan, North Carolina, New Jersey and Virginia; and one each was sold in Arizona, Washington, D.C.

Economy Stocks shudder on Wall Street following steep drops overseas
Author: 0 Stocks shudder on Wall Street following steep drops overseas

The Dow Jones Industrial Average fell 125.98 points, or 0.5 percent, to 25,191.43, the S&P 500 lost 15.19 points, or 0.55 percent, to 2,740.69 and the Nasdaq Composite dropped 31.09 points, or 0.42 percent, to 7,437.54. Hong Kong's Hang Seng index sank 3.1 percent. There have also been disappointing quarterly earnings from several big-name companies, worldwide condemnation of Saudi Arabia - a major oil producer - over the killing of journalist Jamal Khashoggi, and concerns that the US-China ...