Economy

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.

Economy President Trump on border wall:
Author: 0 President Trump on border wall: "I will never, ever back down"

In addition, the Farm Service Agency, which distributes loans to farmers, has been shuttered since the first week of the shutdown. But some farmers attending the American Farm Bureau Federation convention said they continue to support Trump despite the difficulty they're feeling.

Economy Cadillac Releases a Teaser of Its First Full Electric Vehicle
Author: 0 Cadillac Releases a Teaser of Its First Full Electric Vehicle

It will also allow for a shorter development cycle. Cadillac's EV will be offered in both two- and all-wheel drive configurations globally and will use a rather unique battery architecture. That's how innovative features-from the electric self-starter to automatic transmissions, from air-conditioning to disc brakes, from fuel injection to adaptive cruise control-have entered the market.

Author: 0 "Good To Have Ties With India, China, Russia And Japan": Donald Trump

Exports rose 7.1 per cent, customs data showed Monday, down from the 7.9 per cent reported earlier for 2017. In 2017, mutual trade amounted to $84.07 billion demonstrating a growth of 20.8 percent. Chinese exporters also face pressure from cooling consumer demand in other global markets. In December alone, China's trade surplus with the US was $29.87 billion.

Economy California utility PG&E replaces CEO amid bankruptcy worries
Author: 0 California utility PG&E replaces CEO amid bankruptcy worries

It has access to about $1.5 billion in existing cash. "PG&E provides gas and electric service to 16 million Californians", he said in the statement . The company does not expect bankruptcy to interfere with providing its customers with power and other services, the company said in a statement Monday.

Economy SpaceX to lay off 10% of its workers
Author: 0 SpaceX to lay off 10% of its workers

This week he unveiled a steel-clad test flight prototype of the rocket, which he calls Starship. SpaceX has since confirmed the news, saying in a statement that it must get "leaner" in order to achieve its goals - ones that, it said, "have bankrupted other organizations".

Economy Ford to cut jobs, discard loss-making vehicles to survive in Europe
Author: 0 Ford to cut jobs, discard loss-making vehicles to survive in Europe

Ford also plans to consolidate its United Kingdom headquarters and Ford Credit Europe's headquarters at the Ford Dunton Technical Center in South East Essex . On a day that Jaguar Land Rover also announced it is cutting 4,500 jobs worldwide, Ford said its move aims to increase near-term profitability while getting the company ready for changes in the years ahead.

Economy Global PC Shipments Down 4.3% YOY 01/14/2019
Author: 0 Global PC Shipments Down 4.3% YOY 01/14/2019

The fourth quarter is typically oriented toward consumer promotions that help drive the industry's biggest quarter of the year, but the confluence of events in 2018 led to the lowest sequential growth for a holiday quarter since the fourth quarter of 2012.

Economy Alexandria Ocasio-Cortez Quotes 'Watchmen' on Twitter
Author: 0 Alexandria Ocasio-Cortez Quotes 'Watchmen' on Twitter

Rep. Raúl Grijalva (D-Ariz.), a leader of the progressive caucus in the last Congress, said that while it's important to make sure that "everybody's carrying their load", he didn't know if 70 percent "would be the right number or not". In responding to the Politico article Friday morning, Ocasio-Cortez quoted a character from the comic book Watchmen to signal her intention to resist the influence of more experienced lawmakers.

Economy Nissan top executive Munoz resigns amid broadened Ghosn probe
Author: 0 Nissan top executive Munoz resigns amid broadened Ghosn probe

If the bail application is rejected , Ghosn will spend at least another two months in jail, a detention period that can then be extended by the court for a month at a time. While Nissan dismissed Ghosn as Chairman shortly after his arrest, Renault has retained him as Chairman and Chief Executive Officer, saying it needs evidence of his wrongdoing.

Economy FDA inspections have stopped, thanks to government shutdown
Author: 0 FDA inspections have stopped, thanks to government shutdown

The risk also looks at the manufacturing history of the product and compliance history. That led to far fewer federal inspections on domestic food. Interested in Government Shutdown? Inspections have continued for foreign manufacturers, imported and domestic commodities involved in outbreaks or recalls, and anywhere the agency suspects there may be a safety-related problem.

Economy Saudi to slash oil exports after price slide: Minister
Author: 0 Saudi to slash oil exports after price slide: Minister

The kingdom on Wednesday took a first step in that direction by releasing the first audit of Aramco's oil and gas reserves since 1980. The minister will receive the Saudi delegation at Gwadar, where he will be joined by the officials of PSO and BOI, said the source.

Economy Asian markets settle after rallying on US-China trade hopes
Author: 0 Asian markets settle after rallying on US-China trade hopes

At a press conference on January 10, Commerce Ministry spokesperson Gao Feng said the talks had been "solemn, earnest, and candid", as reflected by the fact that the dialogue was extended by a day. "Without some progress already made, there would not be an extension to the negotiations", he told NPR . "China's old saying expresses this best, 'amiability brings wealth.' That is said so correctly!" Some 40 days into the 90-day truce, there were few concrete details on progress made so far.

Economy Tesla To Discontinue Sales Of Lowest-Prices Models S, X
Author: 0 Tesla To Discontinue Sales Of Lowest-Prices Models S, X

Two days later, Musk was chatting with Premier Li Keqiang in Zhongnanhai, the leadership compound next to the Forbidden City in central Beijing, where China hosts its most high-profile foreign visitors. Earlier this week, Musk laid the foundation of a Tesla Gigafactory in Shanghai - the first-ever outside the U.S. - that is expected to produce 500,000 electric vehicles per year and double the production capacity of Tesla .

Economy United States govt shutdown compromises Miami airport operations
Author: 0 United States govt shutdown compromises Miami airport operations

Screeners start around $24,000 a year, and most earn between $26,000 and $35,000, according to TSA. Even before the shutdown, controllers have been working six-day weeks and 10-hour days at numerous country's busiest airports, NACTA's president Paul Rinaldi said, adding: "This staffing crisis is negatively affecting the National Airspace System, and the shutdown nearly certainly will make a bad situation worse".

Economy IPhone 11 Max rumored to have a triple-lens camera
Author: 0 IPhone 11 Max rumored to have a triple-lens camera

The news, first reported in the Wall Street Journal , comes as sales of the iPhone in China continue to suffer. The three-camera setup supposedly won't be available on the regular, 5.8-inch iPhone 11 , which would also be a major differentiator unlike last year's iPhone XS and iPhone XS Max where the hardware was practically the same.

Economy Fiat Chrysler agrees to USA diesel-emissions settlement worth $800M US
Author: 0 Fiat Chrysler agrees to USA diesel-emissions settlement worth $800M US

The official announcement is expected to be made later this week by the US Department of Justice and the EPA. The settlement comes nearly exactly two years since regulators first accused Fiat Chrysler of cheating on the tests . Fiat Chrysler will agree to corporate governance reforms meant to prevent future emissions violations under the agreement, the person said. Bosch must "refuse to accommodate requests for software development and programming that could result in the installation ...

Economy Longer US government shutdown will hit economy, says Fed chief
Author: 0 Longer US government shutdown will hit economy, says Fed chief

He downplayed predictions from policymakers suggesting interest rates would be raised twice more this year. It would not want to wait too long to see overseas weakness affect the USA economy, he added. The balance sheet "will be substantially smaller than it is now", though bigger than it was before the crisis, Powell said. The U.S. central bank raised rates four times a year ago in the face of robust economic growth and unemployment that touched its lowest level in half a century.

Economy China-US trade talks end on positive note
Author: 0 China-US trade talks end on positive note

Both sides have agreed to continuously keep in close contact. The latest round of talks marked the first face-to-face assembly between Washington and Beijing since President Donald Trump and his Chinese counterpart, Xi Jinping , agreed to a 90-day financial truce at the G20 summit in early December.

Economy Rare penny found in 1947 could be worth more than $1 million
Author: 0 Rare penny found in 1947 could be worth more than $1 million

The Mint initially denied Lutes' claim that he had a 1943 copper Lincoln penny when he first notified notified the US Treasury about his findings. When he inquired with the US Treasury about the coin's value, he was told that it was "fraudulent" and all pennies issued in 1943 were made from zinc-coated steel.