Economy

Economy Phone magic is here: Trump caused a sharp fall of oil price
Author: 0 Phone magic is here: Trump caused a sharp fall of oil price

The measure comes into effect on May 2. On Friday , the 26th of April 2019, both US and United Kingdom crude took a tumble after US President had again urged the Organization of Petroleum Exporting Countries (OPEC), a 14-nation pact of oil exporting nations, to pump up crude production in order to ease petroleum prices.

Economy Apple Recalls Plugs in the UK After Customers Get Electrocuted
Author: 0 Apple Recalls Plugs in the UK After Customers Get Electrocuted

The plugs, which were primarily shipped in the UK, Singapore and Hong Kong were shipped with Macs and some iOS devices between 2003 and 2010, and were included in Apple's World Travel Adapter Kit. Owners of at-risk plugs can exchange their adaptors at an Apple store or authorised Apple service provider for free. You can identify if your three-prong is one of the affected units or not by following the instructions below.

Economy India to Ban All Cryptocurrencies
Author: 0 India to Ban All Cryptocurrencies

We already reported that a senior government official from a board created by Indian finance ministry admitted that there have been ideas of creating India's own government-backed digital coin. India has been a tricky place when it comes to regulating crypto. There is still some trepidation over the idea of cryptocurrency, and most experts believe that it can not be made completely illegal in India.

Economy Data Protection Commission launches statutory inquiry into Facebook password issue
Author: 0 Data Protection Commission launches statutory inquiry into Facebook password issue

Visit BusinessInsider.com for more stories . The scope of the DPC's enquiry covers the storage of passwords for Facebook, Facebook Lite and Instagram . The Data Protection Commission says its inquiry will look to establish whether the social media giant complied with GDPR. The inquiry was launched this week after it was found that millions of Facebook and Instagram users had their passwords stored in a readable format on the tech giants internal servers.

Economy Ford Is Being Investigated Over Emissions Testing
Author: 0 Ford Is Being Investigated Over Emissions Testing

EPA Administrator Andrew Wheeler said earlier this month the agency had other enforcement actions against other automakers "in the works". An anonymous employee raised the issue last September through an internal reporting system, the company said.

Economy Work messaging Program Slack takes next step for IPO
Author: 0 Work messaging Program Slack takes next step for IPO

Slack was last valued at about $17 billion on secondary-market trades, CNBC reported . Visit Business Insider's homepage for more stories . The company intends to list its shares on the New York Stock Exchange (NYSE) under the symbol SK.

Economy ExxonMobil reports 49pc drop in profits to US$2.4b, shares fall
Author: 0 ExxonMobil reports 49pc drop in profits to US$2.4b, shares fall

Exxon's oil and gas production rose 2 percent overall to 4 million barrels per day (bpd), up from 3.9 million bpd in the same period the year prior. France's Total SA is top of the list with 84 percent of analysts urging buy, followed by Chevron Corp., BP Plc and Royal Dutch Shell Plc.

Economy USA stocks open mixed amid various earnings of big companies
Author: 0 USA stocks open mixed amid various earnings of big companies

Revenue reporting season is more than a third of their manner ininvestors are searching for clues about whether profit growth can accelerate later this season after a weak first quarter. The U.S. Federal Reserve meeting is due to start on Tuesday. The newest subpoena requests information in Powell, Ohio, about an additional restaurant.

Economy NY Attorney General to investigate Facebook over harvesting email contacts
Author: 0 NY Attorney General to investigate Facebook over harvesting email contacts

The New York state attorney general's office on Thursday announced plans to open an investigation into Facebook's improper collection of users' contact lists. The FTC has been investigating Facebook since the Cambridge Analytica scandal erupted past year. The Irish Data Protection Commission, an European Union data watchdog, had also said it is in contact with Facebook and is considering its next steps.

Economy Apple recalls old three-prong AC plug adapter
Author: 0 Apple recalls old three-prong AC plug adapter

In a statement , Apple said: "This wall plug adapter was shipped from 2003 to 2010 with Mac and certain iOS devices, and was also included in the Apple World Travel Adapter Kit ". While it's a long time since Apple sold these particular adapters, it's possible that you are still using one of these older plugs, so it's worth checking.

Economy Lucara recovers 1758-carat diamond in Botswana
Author: 0 Lucara recovers 1758-carat diamond in Botswana

A Canadian company running the Karowe diamond mine in central east Botswana said the retrieved stone was one of the largest diamonds ever to have been unearthed and the largest ever in the southern African nation, reports Xinhua news agency.

Economy Tesla's Elon Musk and the SEC have reached an agreement, report says
Author: 0 Tesla's Elon Musk and the SEC have reached an agreement, report says

Tesla's latest and more affordable electric auto, the Model 3 , will finally be available to order in the United Kingdom from early May, according to the firm's chief executive Elon Musk . Meanwhile, Musk has continued to tweet. The list is long but includes a slew of topics about Tesla's business, including its financial condition, earnings and guidance; potential mergers or acquisitions; production numbers or sales; projections or estimate numbers; or new or proposed business lines ...

Economy Russia to restore oil pipeline supplies to Europe
Author: 0 Russia to restore oil pipeline supplies to Europe

The head of Belarus' state oil company said on Friday there were substantial volumes of contaminated Russian oil in Belarus and that Minsk and its oil transporting companies had incurred significant losses from the halt of Russian oil transits.

Economy American Airlines hit by Boeing Max jet grounding
Author: 0 American Airlines hit by Boeing Max jet grounding

American canceled about 1,200 flights in the first quarter after authorities worldwide grounded the 737 MAX in mid-March in the wake of the crash of an Ethiopian Airlines plane, the second deadly crash in five months. American Airlines also said its fuel expenses for the year would now be $650m more than previously expected, due to rising oil prices. "Flight cancellations are expected to drive unit cost pressure for the duration of the MAX groundings", Gary Kelly , Board Chairman and Chief ...

Economy Elon Musk reaches new agreement with SEC over his social media abuses
Author: 0 Elon Musk reaches new agreement with SEC over his social media abuses

Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission on Thursday sought a second delay and requested to provide the court another joint submission on or before April 30, indicating whether they have reached an agreement to settle a dispute over Musk's use of Twitter , both parties said in a court filing.

Economy Sainsbury’s-Asda deal blocked by competition watchdog
Author: 0 Sainsbury’s-Asda deal blocked by competition watchdog

For Walmart, the deal was a way to exit Britain, one of the weakest performers in its global portfolio. It also found that motorists would be forced to pay more at over 125 locations where Sainsbury and Asda have gas stations near one another.

Economy 8.7m US Netflix subs may cancel for Disney+
Author: 0 8.7m US Netflix subs may cancel for Disney+

The surge announced Tuesday left Netflix with almost 149 million subscribers through March. Owing to this extraordinary skill, Silas manages the Health Department for the last 3 years at The News Wire Today. Disney's offering, due out in November, could be a bigger threat because it will feature a library of classic films supplemented with original programming cooked up by a company with a proven record of churning out crowd-pleasing entertainment.

Economy Amazon Alexa’s human auditors could access users’ locations
Author: 0 Amazon Alexa’s human auditors could access users’ locations

Some team members can discover the geographic coordinates of an Alexa user; with that information, the data can be typed into a third party mapping application to discover the home address of that user. With location data in particular, the Alexa team uses that information to improve local search results. The latest report presents potential privacy concerns regarding Amazon's access to user data.

Economy Hammond rebuilds bridges with praise for China's new Silk Road
Author: 0 Hammond rebuilds bridges with praise for China's new Silk Road

Mr Xi also sought to address key U.S. trade concerns ahead of talks between the two countries next week. Xi's signature foreign policy initiative aims to reinvent the ancient Silk Road to connect Asia to Europe and Africa through massive investments in maritime, road and rail projects - with hundreds of billions of dollars in financing from Chinese banks.

Economy United States bullish as economy roars ahead
Author: 0 United States bullish as economy roars ahead

Those fears were also exacerbated by a brief inversion of the U.S. Treasury yield curve. President Donald Trump , known for his troubled relationship with facts , was right on every count when he tweeted about the economy Friday morning.

Economy Your 10-second guide to today's Australian inflation report
Author: 0 Your 10-second guide to today's Australian inflation report

While the labour market has stayed firm so far, inflation is not cooperating at all. "The downward surprise to core inflation in the first quarter leaves the RBA with little choice but to cut the cash rate by 25 basis points at its May meeting", ANZ economists Hayden Dimes and David Plank wrote in a note to clients.

Economy SAS Cancels Flights As Pilots Strike
Author: 0 SAS Cancels Flights As Pilots Strike

SAS said it was prepared to continue to negotiate, but that if the pilots' requirements were met, it would have "very negative consequences" for the company. The strike comes after unsuccessful negotiations on a collective bargaining agreement between the pilot group and the airline . SAS is urging passengers to refer to its website for additional information about flight schedules.

Economy Uber aims for $90-billion IPO valuation
Author: 0 Uber aims for $90-billion IPO valuation

Uber is nearing a record $8-$10 billion initial public offering , following ride-hail service rival Lyft Inc. Uber said earlier this month that it may never make a profit. But Uber also showed impressive growth. The two companies also said they were extending an existing partnership to "explore future commercial payment collaborations".

Economy LG Elec to shut S.Korean phone factory, move production to Vietnam
Author: 0 LG Elec to shut S.Korean phone factory, move production to Vietnam

The move, while alleviating LG's balance sheet and losses, doesn't seem too promising in terms of the future of the mobile division, as it continues to struggle with delivering competitive products. LG Electronics rolls out 38 million smartphones and feature phones a year across four countries - Korea, China, Brazil and Vietnam. It will prune smartphone shipments from the plant gradually starting this June.

Economy Waymo Picks Detroit Facility To Build Its Autonomous Cars From Mid
Author: 0 Waymo Picks Detroit Facility To Build Its Autonomous Cars From Mid

Waymo's chief executive John Krafcik said in a blog post that they are teaming up with American Axle & Manufacturing to repurpose an existing facility. Waymo indicated that it has selected MI for its first production facility. A major Silicon Valley tech firm is setting up a base in Detroit , Google spinoff Waymo taking over a plant in the Motor City where it plans to convert vehicles to operate as part of its autonomous ride-sharing service.

Economy Apple is reliant on Amazon. Here's why
Author: 0 Apple is reliant on Amazon. Here's why

Apple is spending more than $30 million per month on Amazon's cloud. Despite all this, Apple now spends more than $30m a month with AWS , people familiar with the matter told CNBC - more than any other publicly announced customer. In the online video market, they are soon-to-be-rivals. According to analysts, Apple's ongoing transformation into a service provider and entertainment giant will amplify the cloud expenditure.

Economy Microsoft is flying thanks to the cloud
Author: 0 Microsoft is flying thanks to the cloud

In totality, Office 365 monthly active commercial users just topped 180 million and Office 365 consumers are up to 34.2 million. The cloud business brought in $9.65 billion in revenue , which was a 41% increase from past year. Sales of the company's Surface hardware grew 21 per cent versus 39 per cent the quarter before, also because customers waited for updated hardware they expected to be released soon.

Economy Luckin Coffee, a Starbucks competitor in China, files for U.S. IPO
Author: 0 Luckin Coffee, a Starbucks competitor in China, files for U.S. IPO

Last week, Luckin raised $150m from BlackRock and other investors, valuing the company at $2.9bn. Two people with direct knowledge of the matter told Reuters the startup is potentially looking to raise $500 million to $800 million from the listing which is scheduled to take place in May.

Economy China's Huawei says 1Q sales up 39%
Author: 0 China's Huawei says 1Q sales up 39%

However, the recent revelation adds weight to the U.S. government's claim that the company is adhering to China's 2017 National Intelligence Law which states that Chinese organizations must "support, cooperate with and collaborate in national intelligence work".

Economy S&P 500, Nasdaq hit record closing highs on upbeat earnings
Author: 0 S&P 500, Nasdaq hit record closing highs on upbeat earnings

Gulf OPEC members said that rather than offset any shortfall resulting from the USA decision on waivers, they would raise output only if there was demand. Asian markets closed mixed, Tokyo's Nikkei added 0.2 per cent, Hong Kong's Hang Seng was flat and China's Shanghai Composite fell 0.5 per cent.