Economy

Economy Walmart to launch one-day shipping to rival Amazon
Author: 0 Walmart to launch one-day shipping to rival Amazon

The option will first be available in Phoenix and Las Vegas, and Walmart will add it to southern California in the coming days. Walmart is rolling out next-day delivery beginning in Phoenix, Las Vegas, and Southern California, with plans to reach approximately 75% of the United States population this year.

Economy You Can Now Request a Quiet Ride With Uber Black
Author: 0 You Can Now Request a Quiet Ride With Uber Black

Quiet Mode: if you need to respond to emails or are in the mood for a nap, make your trip a quieter one with just one tap. For one, passengers will be able to pick a " happy to chat " option through the app if they're up for chit-chat, or a " quiet preferred " option if speaking to another human being is the last thing they need right now.

Economy Bitcoin's first US$1000 weekend jump since 2017 marks 9-month high
Author: 0 Bitcoin's first US$1000 weekend jump since 2017 marks 9-month high

Price of the cryptocurrency has nearly doubled this year. But it is too soon to declare bitcoin as a safe-haven asset, they said. The companies behind the digital exchange Bitfinex and the cryptocurrency Tether recently said that the so-called stablecoin is backed by cash and short-term securities only equal to 74 percent of the outstanding coins rather than completely pegged to the US dollar.

Economy Crowned by Burger King, meat replacement company Impossible Foods raises $300 million
Author: 0 Crowned by Burger King, meat replacement company Impossible Foods raises $300 million

Founded in 2011 by Stanford biochemistry professor and former pediatrician Dr. Patrick O. Brown, Impossible Foods makes meat from plants - with a much smaller environmental footprint than meat from animals. "Our global financial partners are supporting a technology powerhouse that will transform the global food system". Since launching in Singapore in March 2019, sales in Asia have increased more than threefold as it benefited from strong sales from a wide range of restaurants and cuisines ...

Economy Hinduja brothers top UK's Rich List for third time
Author: 0 Hinduja brothers top UK's Rich List for third time

The list reveals that retailer Sir Philip Green has lost his billionaire status; his fortune is believed to have halved in a year because of a pension black hole in his Arcadia empire. Meanwhile, Sir Philip Green and his wife Tina are placed at 156th on the list, down from 66th past year. Cardiff-born venture capitalist Sir Michael Moritz remained Wales' richest person with a 3 billion pounds fortune.

Economy Jet Airways Crisis: CFO Amit Agarwal resigns from the board
Author: 0 Jet Airways Crisis: CFO Amit Agarwal resigns from the board

Most of the airline's board members have also quit in the last one month. With no hope of revival, at least anytime soon, Jet Airways saw four of its top people exit - chief executive officer Vinay Dube , deputy CEO-and-CFO Amit Agarwal , chief people's officer Rahul Taneja and company secretary-cum-compliance officer Kuldeep Sharma - on Tuesday.

Economy China: Feel the power of our fully operational Tariff Star, or something
Author: 0 China: Feel the power of our fully operational Tariff Star, or something

According to Hunter, even a major escalation "would still add only a few tenths of a percent to U.S. consumer price inflation", which is already below the U.S. "So if I pay $375 for the TV, I've sent $75 in tariffs to the Treasury Department", he said, demonstrating that the $75 price hike is paid for not by China but by the consumer.

Economy Jury orders Bayer to pay $2 billion in third Roundup trial
Author: 0 Jury orders Bayer to pay $2 billion in third Roundup trial

The jury agreed, awarding the couple $1 billion each in punitive damages for a total of $2 billion. The couple's case is the third to result in a verdict against Monsanto and is the largest judgment thus far against the agribusiness company, now owned by Bayer AG of Germany.

Economy Saudi Tanker Attack Reveals Oil Market Weakness
Author: 0 Saudi Tanker Attack Reveals Oil Market Weakness

An Emirati coast guard vessel passes an oil tanker off the coast of Fujairah, United Arab Emirates, on May 13, 2019. Iran is to the north and the UAE and Oman to the south. The spike in tensions comes a week after Iran announced it was suspending some of its commitments under the 2015 nuclear agreement, one year after Trump withdrew from the accord and slapped tough sanctions on the Islamic republic.

Economy Amazon Pays Employees to Start Businesses
Author: 0 Amazon Pays Employees to Start Businesses

In launching the program, Amazon said the total revenue potential for Delivery Service Partner companies would be $1 million to $4.5 million a year once a company reaches critical mass. However, Whole Foods employees are not eligible to participate in the program. The new employee incentive is part of a program Amazon started a year ago that lets anyone apply to launch an independent Amazon delivery business.

Economy China Responds to Trump's New Tariffs, Targeting $60 Billion in US Exports
Author: 0 China Responds to Trump's New Tariffs, Targeting $60 Billion in US Exports

That extends Chinese duty increases to $110 billion of imports from the United States . "It's clear that there is a lot of nervousness around the US-China trade negotiations and concern that it's really deteriorating pretty significantly, and that's impacting all areas of markets", said Kristina Hooper, chief global market strategist at Invesco in NY.

Economy China will
Author: 0 China will "never surrender" in trade row

The S&P 500 on Friday racked up its worst weekly decline since December, as Washington raised tariffs on Chinese goods worth $200 billion to 25 per cent from 10 per cent. "It's clear that there is a lot of nervousness around the US-China trade negotiations and concern that it's really deteriorating pretty significantly, and that's impacting all areas of markets", said Kristina Hooper, chief global market strategist at Invesco in NY.

Economy Facebook VP Nick Clegg responds to co-founder Hughes' call for breakup
Author: 0 Facebook VP Nick Clegg responds to co-founder Hughes' call for breakup

Hughes roomed with Zuckerberg at Harvard and left Facebook in 2007 to campaign for Barack Obama. "These laws, developed in the 1800s, are not meant to punish a company because people disagree with its management", wrote Clegg, who argued that antitrust law was instead intended to ensure that consumers had access to affordable, good-quality products.

Economy Trump Warns China Impasse to Worsen If Xi Retaliates on Tariffs
Author: 0 Trump Warns China Impasse to Worsen If Xi Retaliates on Tariffs

Consumer to pay the Tariffs". "But news flow today suggests this could take more time and is unlikely to be concluded until late June", said John Woods, Hong Kong-based chief investment officer of APAC at Credit Suisse AG. Washington wants Beijing to roll back plans for government-led creation of Chinese global competitors in robotics and other technology that its trading partners say violate its free-trade commitments.

Economy Supreme Court allows consumers antitrust suit against Apple
Author: 0 Supreme Court allows consumers antitrust suit against Apple

Apple shares were trading down $10 at 187.04 by midday. The Supreme Court is allowing consumers to pursue an antitrust lawsuit that claims Apple has unfairly monopolized the market for the sale of iPhone apps. Gorsuch also was appointed by Trump. "This court held that an antitrust plaintiff can't sue a defendant for overcharging someone else who might (or might not) have passed on all (or come) of the overcharge to him", Gorsuch wrote.

Economy Turkey to continue buying oil from Iran despite U.S. pressures
Author: 0 Turkey to continue buying oil from Iran despite U.S. pressures

On May 5, the White House announced it would send the USS Abraham Lincoln aircraft carrier strike group and the bombers to the Persian Gulf to counter Tehran. "The Department of Defence continues to closely monitor the activities of the Iranian regime, their military and proxies", it said. "Reporting indicates heightened Iranian readiness to conduct offensive operations against US forces and interests".

Economy Trump defends tariffs after advisor says 'both sides' suffer
Author: 0 Trump defends tariffs after advisor says 'both sides' suffer

The impasse left investors bracing for retaliation by China for Washington's increase on Friday of tariffs on $200 billion worth of Chinese goods. The offshore Chinese yuan fell to its lowest levels in more than four months at 6.88 to the dollar. "The president and his administration have failed to realize we're stronger when we work with our allies on every issue - China included", she said on CNN's "State of the Union".

Economy Brexit stockpiling helps United Kingdom economy rebound in Q1
Author: 0 Brexit stockpiling helps United Kingdom economy rebound in Q1

The optimistic data comes in defiance of fears of a "no-deal" Brexit that dominated the UK's political agenda at the beginning of the year. The UK economy grew 0.5% in the first quarter, according to preliminary figures released by the Office for National Statistics on Friday.

Economy Five Injured as Plane Crashes Into Fuel Truck
Author: 0 Five Injured as Plane Crashes Into Fuel Truck

The collision occurred as the Dash 8 plane was taxiing to the gate at around 1:45 a.m. A number of people were treated by paramedics and three people were taken to hospital after sustaining " minor injuries ", the Greater Toronto Airport Authority (GTAA) said .

Economy Jet Airways Saga: Lenders Make Contingency Plan In Case Of No Bids
Author: 0 Jet Airways Saga: Lenders Make Contingency Plan In Case Of No Bids

Lenders of Jet Airways led by the state-run State Bank of India (SBI) had mandated SBICaps to initiate the process of selling the airline to recover their dues of over Rs 8,400 crore. Once India's largest private airline, Jet stopped all flights from April 17 after its lenders, led by SBI, refused to extend more funds to keep the carrier flying.

Economy Thyssenkrupp expects European Union to 'block' Tata merger plan
Author: 0 Thyssenkrupp expects European Union to 'block' Tata merger plan

Germany's Thyssenkrupp and India's Tata have abandoned a blockbuster merger of their European steelmaking operations, raising fears for jobs at the Tata-owned Port Talbot plant in south Wales. "The remedies offered were developed considering the overall industrial strategy for the proposed joint venture, the integrated and complex nature of the supply chain to service customers and the need to build a sustainable business that would be able to endure the structural challenges faced by the ...

Economy Windsor’s jobless rate increases despite national employment surge
Author: 0 Windsor’s jobless rate increases despite national employment surge

The unemployment rate nationally dipped to 5.7 per cent. Strong increases in youth employment also lowered the unemployment rate for that demographic to record lows. There are also signs consumers continue to spend and borrow, aided in large part by the strong labour market, even amid worries about the outlook. A closer look at the April numbers reveals the overall gain was driven by the creation of 73,000 full-time jobs and 83,800 positions in the private sector.

Economy Symantec Shares Tumble on CEO’s Departure, Downbeat Forecast
Author: 0 Symantec Shares Tumble on CEO’s Departure, Downbeat Forecast

Symantec also appointed a new CFO. Not long ago, Clark clarified that he needed to spend more time with his father. Hill additionally said that "for anybody, and surely somebody with the pride of Greg, he doesn't care to see the outcomes that occurred in the final quarter".

Economy Furniture tip over recall
Author: 0 Furniture tip over recall

The chests are 27-and-a-half inches high, 31-and-a-quarter inches wide, and 15-and-a-half inches deep. The drawers were sold online at Walmart.com, Amazon.com, Target.com and other online retailers from October 2009 through July 2018 for about $60.

Economy Uber’s hyped-up IPO hits a few potholes on its first day
Author: 0 Uber’s hyped-up IPO hits a few potholes on its first day

Uber thought its IPO would be welcomed by the bulls on the Wall Street as there was a lot of hype surrounding the ride-hailing company before the D-day. The company weathered controversies including the unearthing of a culture of sexism and bullying at Uber to a US Department of Justice federal investigation, which culminated in the resignation of co-founder and Chief Executive Travis Kalanick in 2017.

Economy Volkswagen's First Fully Electric Car Finally Has A Name
Author: 0 Volkswagen's First Fully Electric Car Finally Has A Name

Now, we know the specifications and price guidance. The ID.3 will offer three different battery options with ranges of 330km, 420km and 550km on the WLTP cycle. Deliveries will start in the middle of next year. The ID.3 will enter production in Europe at the end of 2019. Then you visit VW's preorder site , hoping that it's still working, plug in your information and then wait.

Economy Amazon accused of illegally collecting data on kids
Author: 0 Amazon accused of illegally collecting data on kids

Four US senators have co-signed a letter asking the Federal Trade Commission to investigate. The findings prompted four USA senators to ask the Federal Trade Commission to investigate whether Amazon is violating the Children's Online Privacy Protection Act ( COPPA ).

Economy India's Oil Imports From Iran Down 57% In April
Author: 0 India's Oil Imports From Iran Down 57% In April

The United States escalated its tariff war with China on Friday by increasing levies to 25% for $200 billion worth of Chinese goods. The comments dragged on both Asian and USA stock markets. Saudi Arabia plans to meet all requests for oil purchases it has received for June, notably from countries that had to stop buying Iranian crude because of recent USA sanctions.

Economy Party City closing 45 locations amid helium shortage; list of closures
Author: 0 Party City closing 45 locations amid helium shortage; list of closures

Harrison, the company's chief executive officer, said in a statement Thursday. The chain, which operates more than 40 stores in IL, did not disclose the locations of the stores that will close throughout the year. File image of Party City store in Attleborough, Massachusetts. Meanwhile, the party chain is scrambling to find new helium supplies. "We're working to replenish the helium at the affected stores as more supply becomes available".

Economy Uber is expected to set its share price at $45
Author: 0 Uber is expected to set its share price at $45

Uber had originally suggested a price range of $44-$50 for its share price listing, valuing the company at up to $120bn. Its shares closed at $41.57. Uber raised nearly $25 billion in 23 rounds of financing before going public. Kennedy points out that unlike Facebook , however, Uber hasn't been turning profits. Facebook's stock now trades just below $200. Smaller Lyft saw its shares drop 6% to $%51.79.

Economy India's Reliance Industries buys global toy retailer Hamleys
Author: 0 India's Reliance Industries buys global toy retailer Hamleys

This acquisition will catapult Reliance Brands to be a dominant player in the global toy retail industry, the company said in a statement. Reliance Industries already operates 88 Hamleys stores across 29 Indian cities. "Over the last few years, we have built a very significant and profitable business in toy retailing under the Hamleys brand in India". "This 250-year old English toy retailer pioneered the concept of experiential retailing, decades before the concept of creating unique ...

Economy GM, Unifor announce investment in Oshawa plant that will save 300 jobs
Author: 0 GM, Unifor announce investment in Oshawa plant that will save 300 jobs

The announcement was made this morning in Toronto alongside Unifor national president Jerry Dias. "The answer is no", said Dias. This comes after the automaker originally announced its intentions to close three assembly plants and two propulsion plants in Michigan, Ohio, Maryland and Ontario by the end of 2019.