Economy

Economy New Zealand Dollar Price Action in Focus Ahead of RBNZ Meeting
Author: 0 New Zealand Dollar Price Action in Focus Ahead of RBNZ Meeting

The New Zealand dollar dropped by about one-third of 1 penny on the news, and has been trading in a little under 66 US cents. "Given the magnitude of the downward revision to the RBNZ's Q1 growth outlook, the hurdle for near-term further disappointment is high, but the RBNZ's growth forecasts further out are considerably higher than our own".

Economy Facebook's co-founder: 'It's time to break up Facebook'
Author: 0 Facebook's co-founder: 'It's time to break up Facebook'

On Zuckerberg: "Mark is a good, kind person", he writes, and in many ways the same guy Hughes would watch hugging his parents goodbye at Harvard, the same guy "who fell in love with his future wife while in line for the bathroom at a party".

Economy Zuckerberg to explain Just How Facebook gets’Solitude Concentrated’
Author: 0 Zuckerberg to explain Just How Facebook gets’Solitude Concentrated’

In the United Kingdom, the government's Digital, Culture, Media and Sport (DCMS) committee recently recommended that social media firms should be overseen by their own independent regulator . "The FTC must set a resounding precedent that is heard by Facebook and any other tech company that disregards the law in a rapacious quest for growth".

Economy Euro zone economy to rebound next year, but inflation won't accelerate
Author: 0 Euro zone economy to rebound next year, but inflation won't accelerate

And that's after the ongoing Brexit proceedings and the US-China trade war caused the predicted GDP growth to be downgraded from 1.9% to 1.4% in 2019. The EU's aggregate government deficit is expected to increase from 0.6 percent of GDP in 2018 to 1 percent in both 2019 and 2020. The unemployment rate in the euro area is forecast to fall to 7.7 percent in 2019 and to 7.3 percent in 2020, lower than it was before the crisis began in 2007.

Economy GM Cruise gets another $1.15B in funding
Author: 0 GM Cruise gets another $1.15B in funding

Developing and deploying self-driving vehicles at massive scale is the engineering challenge of our generation. Following major investments past year from Japan's SoftBank and Honda valuing the operation at almost $15 billion, Cruise announced on Tuesday a new funding round of $1.15 billion that takes the business to a new valuation of $19 billion.

Economy Warren Buffett hits out at 'dishonest' private equity
Author: 0 Warren Buffett hits out at 'dishonest' private equity

Investment guru Warren Buffett on Saturday signalled his commitment to Kraft Heinz and defended his actions towards Wells Fargo, two of the largest investments at his Berkshire Hathaway. Despite that, Berkshire is still Kraft Heinz's biggest shareholder, owning 26.7 percent of the company's outstanding shares, according to Berkshire's first-quarter report released Saturday.

Economy RBA holds but rate cut coming
Author: 0 RBA holds but rate cut coming

At the same time, the RBA characterized the labor market as "strong" and said it expected the unemployment rate to ease to 4.75 percent in 2021 from current levels of 5 percent where it has stayed for nearly six months now. Also Read: What would happen if RBA decides to cut rates? The opposition Labor Party - the favorites to win - is championing workers rights, including stronger wage growth and personal tax cuts.

Economy Trump tweets that Workhorse electric truckmaker may take over Ohio GM plant
Author: 0 Trump tweets that Workhorse electric truckmaker may take over Ohio GM plant

News of the pending sale was greeted gloomily by workers in Lordstown who were hoping that GM would reopen the factory about 60 miles east of Cleveland that stopped producing the Chevrolet Cruze compact auto in March. The financial report indicates Workhorse had $2.8 million on hand as of March 30. What they all missed is I think what this factory might be for ...

Economy Trump blasts report on his business losses, calls accounting a 'sport'
Author: 0 Trump blasts report on his business losses, calls accounting a 'sport'

According to a separate piece authored by Buettner and Craig, one of the key takeaways from their investigation was that while during "multiple years, he appears to have lost more money than almost any other individual taxpayer", Trump "paid no federal income taxes for eight of the 10 years" covered by the obtained tax transcript.

Economy China's Tencent drops hugely popular combat game PUBG
Author: 0 China's Tencent drops hugely popular combat game PUBG

Often likened to the blockbuster book and film series "The Hunger Games", PUBG pits marooned characters against one another in a virtual fight to the death, and has become one of the world's most popular mobile games. Game approvals in China suffered a nine-month hiatus a year ago after an administrative reshuffle in March created a major backlog plus a breakdown in command.

Economy Hackers steal $41 million from cryptocurrency exchange Binance
Author: 0 Hackers steal $41 million from cryptocurrency exchange Binance

However, the trading will remain active on the exchange. Although the trade will continue, the $ 40 million leak means that Binance will stop withdrawals and deposits for a week, while conducting a safety audit. To be honest, we can actually do this probably within the next few days. "But there're concerns that if we do a rollback on the Bitcoin network at that scale, it may have some negative consequences, in terms of destroying the credibility for bitcoin", Zhao stated.

Economy Uber and Lyft Drivers Planning Nationwide Strike During Morning Rush
Author: 0 Uber and Lyft Drivers Planning Nationwide Strike During Morning Rush

One Los Angeles Uber driver noted how big a role airport transportation plays in the company's overall ride volumes and is demanding fair compensation. The New York City organization said its demands include greater job security. "The low pay and small economic weight of Uber and the gig economy overall, coupled with the fact that Uber drivers and other gig workers are mostly working on a part-time basis as a way to earn supplementary income, argue for a change in perspective", Mishel ...

Economy Major Stock Indexes Plunge As US Threatens Higher Tariffs On Chinese Goods
Author: 0 Major Stock Indexes Plunge As US Threatens Higher Tariffs On Chinese Goods

U.S. Trade Representative Robert Lighthizer said those tariffs on China will take effect on Friday, and he and Trade Secretary Steven Mnuchin accused China of "reneging" on commitments to change its trade policies. Niko Partnersreleased new research this month indicating that by 2023, China will have more than 354 million PC gamers playing online games, which is greater than the entire population of the U.S.

Economy Total backs Occidental's Anadarko bid with deal to buy assets
Author: 0 Total backs Occidental's Anadarko bid with deal to buy assets

The Occidental Petroleum Corporation is offering US$38 in cash per share and 0.6094 of its own shares for each ordinary share of Anadarko Petroleum, while Chevron Corp. Total said the assets represented around 1.2-billion barrels of oil equivalent (boe) of 2P reserves, of which 70 per cent is gas, plus 2 billion boe of long-term natural gas resources in Mozambique.

Economy Employees of Riot Games to Walkout in Protest on Monday
Author: 0 Employees of Riot Games to Walkout in Protest on Monday

Speaking to Kotaku , one anonymous employee said , "Leadership consistently promised transparency/actions to be taken and then did not deliver on that promise", adding that the forced arbitration "finally lit the spark and some folks made a decision to take action".

Economy Beware the
Author: 0 Beware the "one ring" phone scam

Another wave hit three years ago ; in that case, calls came from area codes connecting callers to the Turks and Caicos, Dominican Republic, British Virgin Islands, and Jamaica. The idea is to get the caller to call the number back. Robocallers typically call specific area codes repeatedly, often late at night. Although the calls are being trafficked from overseas, the phone number that is spoofed - the one seen on a caller ID - takes the format of a phone number from the United States.

Economy Google Pixel 3a spec sheet leaks, withholds nothing
Author: 0 Google Pixel 3a spec sheet leaks, withholds nothing

Expectedly, the new render confirms the Pixel 3a will come with a design similar to the original Pixel 3 , with a two-tone rear housing a fingerprint scanner a lone camera setup, as well as fairly chunky bezels and a hefty chin and forehead above and below the display.

Economy US Works To Ensure Alternative Oil Supply To India
Author: 0 US Works To Ensure Alternative Oil Supply To India

Fereydoun was a senior diplomat who took part in talks that led to the 2015 nuclear deal between Iran and world powers. With frustration mounting in Iran over the lack of dividends from the nuclear accord, the semi-official ISNA news agency said that President Hassan Rouhani would announce "retaliatory measures" on Wednesday to mark the anniversary of the usa pullout.

Economy Donald Trump vows to raise China tariffs, sending markets tumbling
Author: 0 Donald Trump vows to raise China tariffs, sending markets tumbling

US companies that do a lot of business in China are getting hit hard in early trading after President Donald Trump threatened more tariffs with trade talks between the world's two biggest economies faltering. "Trump has taken the proverbial sledgehammer to the walnut this morning and the only two words likely to be on the minds of traders and investors this week are "trade talks", Jeffrey Halley, a senior market analyst at OANDA, said.

Economy Deals you can score during National Nurses Week
Author: 0 Deals you can score during National Nurses Week

The theme of this year's National Nurses Week is 4 million Reasons to Celebrate, commemorating more than 4 million nursing professionals nationwide. Since its establishment in 2010 in Ogden, Utah, the College has graduated learners and contributed to strengthening the registered nurse workforce in Utah, Idaho, Nevada and Wyoming.

Economy Markets tumble after Trump threatens to dramatically increase China tariffs
Author: 0 Markets tumble after Trump threatens to dramatically increase China tariffs

President Donald Trump raised pressure on China on Sunday, threatening to hike tariffs on $200 billion worth of Chinese goods in a tweet that sent financial markets swooning. Besides a greater opening of the Chinese market to United States goods, Trump is pressing for structural changes such as Beijing ending its practice of forcing U.S.

Author: 0 Trump threatens to increase tariffs on China

The Wall Street Journal reported on Monday that China was considering cancelling trade talks scheduled for this week following Trump's threats. Trump suggested in announcing the move on Twitter that he was acting because he's not satisfied with the pace of progress in negotiations with China.

Economy Trump to raise tariffs on $200bn of Chinese goods
Author: 0 Trump to raise tariffs on $200bn of Chinese goods

Trump and the Chinese president will decide after the negotiations this week whether they'll meet to sign off on a pact. President Trump said on Sunday the US tariffs imposed on $200 billion of Chinese goods will increase to 25 percent on Friday, attributing the payments on those products to the "great economic results".

Economy U.S. jobs report: April continues growth as 263,000 jobs added
Author: 0 U.S. jobs report: April continues growth as 263,000 jobs added

The second month of strong employment growth put to rest concerns about a recession and ironically undercut Trump's call for the Fed to cut interest rates. The jobless rate slid from 3.8% in March to hit the lowest level since December 1969. "JOBS, JOBS, JOBS! 'Jobs surge in April, unemployment rate falls to the lowest since 1969.'" Trump tweeted .

Economy Berkshire Hathaway shareholders arrive in Omaha
Author: 0 Berkshire Hathaway shareholders arrive in Omaha

Instead, it was one of his younger deputies who opted to invest in the ecommerce behemoth. "We screwed up." But there's no indication of a strategy shift at Berkshire to invest more heavily in tech, aside from its new stake in Amazon and a $40-billion stake in Apple.

Economy HSBC profits leap 31% in Q1
Author: 0 HSBC profits leap 31% in Q1

Shares in the bank were down 0.07 percent at HK$68.2 when Hong Kong markets opened for afternoon trading, paring sharper losses seen before the break. The bank said that the turnaround strategy for its business in the United States, which has for years underperformed, was progressing, but that task remained its "most challenging strategic priority".

Economy Tesla Stock Surges as It Seeks to Raise Nearly $2 Billion
Author: 0 Tesla Stock Surges as It Seeks to Raise Nearly $2 Billion

Shareholders don't usually like to see companies dilute the value of their shares by issuing new stock, but markets have reacted positively to Tesla's announcement. Tesla's stock price fell to $235.14 on April 26, the lowest level in two years, over concerns over falling demand for the Model 3, the company's first mass-market vehicle.

Economy FCC warns of 'waves' of scam robocalls hitting New York, Arizona
Author: 0 FCC warns of 'waves' of scam robocalls hitting New York, Arizona

Many modern cell phones will show that the call is coming from those countries. The Federal Communications Commission warned consumers Friday of "waves" of scam robocalls targeting NY and Arizona. One ring calls may appear to be from worldwide callers, including initial digits that resemble US area codes. But law enforcement agrees on one thing: do not call back.

Economy Tyson chicken strips have been recalled because they might have metal
Author: 0 Tyson chicken strips have been recalled because they might have metal

Consumers who purchased the recalled products are urged not to consume them, the statement said. Each of the recalled products have establishment number "P-7221" on the back of the package. The recall impacting 11,829,517 pounds of frozen, ready-to-eat chicken strips is a significant expansion from a voluntary recall of approximately 69,093 pounds of the same type of product in March.

Economy Much ado about what to do: Microsoft wants Azure to help decide
Author: 0 Much ado about what to do: Microsoft wants Azure to help decide

Just like how Amazon Web Service (AWS) is utilizing Ethereum , Microsoft has launched a fully managed service for companies to build and manage their own distributed ledger technologies (blockchains). The new open modelling language connects IoT devices to the cloud, letting developers deploy at scale. Supporting the Blockchain , Plus New LedgersBuilding on the existing Azure Blockchain Workbench , released a year ago, Microsoft is announcing Azure Blockchain Service (not to be ...

Economy Federal Reserve holds rates steady despite Trump's jawboning
Author: 0 Federal Reserve holds rates steady despite Trump's jawboning

James Marple, senior economist with TD Bank Group, said inflation would have to move "convincingly lower " for the Fed to adjust or ease policy. He said that was because "the global economy appears to be coming through its soft patch after first-quarter economic data proved stronger than expected" in the US, China and eurozone economies.

Economy AWS opens up Amazon Managed Blockchain service for general availability
Author: 0 AWS opens up Amazon Managed Blockchain service for general availability

The service makes it easier to connect multiple AWS accounts with blockchain technology, which allows for transactions to be stored in an unchangeable infrastructure. The QLDB ledger database is one created to deliver a log of transactions that is immutable, transparent and verifiable cryptographically. In addition, AMB provides simple APIs that allow customers to vote on memberships in their networks and to scale up or down more quickly.

Economy Bank of England Uplifts Growth View
Author: 0 Bank of England Uplifts Growth View

In its quarterly forecasts, the central bank said stock-building by companies had helped first quarter economic growth rise to a quarterly rate of about 0.5%. It reiterated that gradual and limited rises were likely over the next three years, but that they could go in either direction in response to Brexit.