Economy

Economy Renault warns it'll block Nissan's governance reshuffle, says report
Author: 0 Renault warns it'll block Nissan's governance reshuffle, says report

The reported move by Renault , which is Nissan's largest shareholder, is likely to further strain ties between the two firms after the shock arrest of former boss Carlos Ghosn. "As now proposed, this does not seem to be the case". Allegedly, Renault won't have its say on the matter because the selection of the committee members does not reflect what the French want.

Economy Fake video of Zuckerberg stays on Instagram
Author: 0 Fake video of Zuckerberg stays on Instagram

A fake clip of Facebook co-founder Mark Zuckerberg which was uploaded to Instagram will be allowed to remain on the platform, the company has confirmed. Two weeks ago, Facebook declined to remove a doctored video in which House Speaker Nancy Pelosi seemed to drunkenly slur her speech. Posters and Howe are not trying to trick internet users, as all the videos are labelled with the hashtag #deepfake .

Economy Kroger to sell CBD products in almost 1,000 stores
Author: 0 Kroger to sell CBD products in almost 1,000 stores

Besides Wisconsin, Kroger will sell CBD creams, balms and oils in Arizona, Arkansas, Colorado, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, Nevada, Oregon, South Carolina, Tennessee, West Virginia, Washington and Wyoming, according to the company.

Economy United’s Raytheon deal to create $100bn defence giant
Author: 0 United’s Raytheon deal to create $100bn defence giant

Under terms, Raytheon shareowners will receive 2.3348 shares in the combined company for each Raytheon share they hold. The deal is expected to be completed in early 2020. Because the two companies are generating about $75 billion to $80 billion a year in cash, there will be plenty to invest in research and development and there will be "many opportunities for new franchises", Hayes said, adding that the new organization will have more than 60,000 engineers.

Economy USA core inflation cools, bolstering case for Fed rate cut
Author: 0 USA core inflation cools, bolstering case for Fed rate cut

The dollar fell on Wednesday as rising trade tensions between Washington and Beijing and growing bets on a US interest rate cut sapped investor demand for the currency. The dollar has suffered a setback after the latest escalation of the U.S. Spot gold dropped 0.2% to $1,325.34 an ounce. The Trump administration last month signaled intent to turn the $5.1 trillion-a-day global currency market into the next battlefield of his trade war with a Commerce Department plan that would allow ...

Economy Salesforce buys big data firm Tableau in US$15.3 bln deal
Author: 0 Salesforce buys big data firm Tableau in US$15.3 bln deal

Salesforce , a maker of customer-management software, is buying Tableau Software in an all-stock deal valued at $15.7 billion. Salesforce co-CEO Marc Benioff , left, and the company's chief technology officer, Parker Harris, look on during a keynote address at Salesforce's 2013 Dreamforce conference in San Francisco on November 19, 2013.

Economy Hudson's Bay executive leads bid to take retailer private
Author: 0 Hudson's Bay executive leads bid to take retailer private

Hudson's Bay Co .'s stock skyrocketed almost nearly 48 per cent on Monday after the retailer announced that it is reviewing a bid from a group of shareholders to take the company private. The group, which owns a combined 57 percent interest in Hudson's Bay, includes USA private equity firm Rhône Capital , which in 2017 agreed to invest US$500 million in the company.

Economy Elon Musk mulls mining venture for Tesla to produce electric vehicle batteries
Author: 0 Elon Musk mulls mining venture for Tesla to produce electric vehicle batteries

Elon Musk hinted at a new electric bakkie, which he called a "cyberpunk truck", at Tesla's annual investor meeting yesterday. Mr Musk also reiterated plans to establish a network of self-driving cars, telling shareholders that their cars would be able to take them "from the garage to your parking space at work without intervention" later this year using the company's Autopilot system.

Economy Britain agrees Brexit trade deal with S Korea
Author: 0 Britain agrees Brexit trade deal with S Korea

Trade between the two countries was £14.6 billion ($18.6 billion, 16.4 billion euros) in 2018, and has risen by 12 per cent per year on average since the European Union signed a free trade deal with South Korea in 2011. "This means that whatever happens with #Brexit, there will be total continuity in trade between our two countries AND the basis for an ambitious future FTA [free-trade area] when we leave the EU", Fox tweeted.

Economy Audi issues recall for E-Tron over potential fire risk
Author: 0 Audi issues recall for E-Tron over potential fire risk

A recall has been issued for 1,644 2019 Audi e-tron SUVs for a potentially poor battery seal that could lead to a "thermal event" or "short circuit", per Audi. While it has yet to issue a recall, the company did release an over-the-air software update for battery charge and thermal management "out of an abundance of caution".

Economy Foxconn can move iPhone manufacturing completely out of China if required
Author: 0 Foxconn can move iPhone manufacturing completely out of China if required

Apple has so far escaped the brunt of Donald Trump's tariffs on $200bn (£157bn) of Chinese goods but the USA president has threatened to slap import duties on a further $300bn if trade talks fail to progress. Foxconn, the world's top contract electronics assembler, said it had enough capacity outside China to meet Apple's demand in the American market if the need should arise for the iPhone maker to adjust its production lines due to the U.S.

Economy Uber takes its flying taxi ambitions to Australia
Author: 0 Uber takes its flying taxi ambitions to Australia

Last year, the company met with the Civil Aviation Safety Authority (CASA) to discuss the regulatory and safety issues for Uber Air . And now with the third market being chosen in Australia the company is aiming to commercially launch Uber Air in the three markets by 2023 .

Economy Build-A-Bear Workshop will be holding another ‘Pay Your Age' event
Author: 0 Build-A-Bear Workshop will be holding another ‘Pay Your Age' event

More than 200,000 people are expected to be selected to receive the " Pay Your Age " ticket to take part in the event happening in the stores across the country, Canada and the United Kingdom from June 24-28. Customers will have to be registered with the store's bonus club to get the deal. The birthday party package - Count Your Candles - allows guests to pick their party them and invite friends for the experience.

Economy Facebook to launch cryptocurrency this month
Author: 0 Facebook to launch cryptocurrency this month

The token will mainly be used in Facebook's products - WhatsApp , Messenger and so on - but the company is also planning ATM-like physical terminals . Concerns of this nature will be addressed by a foundation that is being set up by Facebook that it ought to govern the digital currency. Facebook has been working with governments to get approval for the coin and it will intensify efforts on fraud prevention, which means you can expect "more stringent forms of identity verification".

Economy US Pres. Trump’s
Author: 0 US Pres. Trump’s "secret" agreement "leaked", reveals a concession for Mexico

President Trump evidently knows something about the art of the tariff threat. The proposed tariffs would have increased 5% per month, maxing out at 25%, until Mexico brought the flow of illegal immigration to a stop. "That will be announced at the appropriate time ". Mexico, however, had already meant to do that before Trump's latest threat and had made that clear to US officials.

Economy Trump threatens China with more tariffs if Xi refuses meeting at G20
Author: 0 Trump threatens China with more tariffs if Xi refuses meeting at G20

In an interview with CNBC on Monday, Trump said that tariffs on $300bn-worth of Chinese goods would come into force immediately if there was no meeting at the summit scheduled for 28-29 June. Washington slapped 25 percent tariffs on $200 billion in Chinese goods in May, and announced plans to introduce duties on another $300 billion of imports - comprising virtually the entirety of the remaining non-taxed Chinese imports into the US.

Economy Russian Federation still undecided on OPEC oil deal extension: Saudi
Author: 0 Russian Federation still undecided on OPEC oil deal extension: Saudi

President Vladimir Putin said last week that Russian Federation and the Organization of the Petroleum Exporting Countries disagreed over what constituted a fair oil price, but that they would decide at the meeting. Yet, Russian energy minister Alexander Novak said there is a still a risk that oil producers pump out too much crude and prices fall sharply. "The revisions imply a 300,000 barrel per day reduction in our current global oil demand outlook of 1.3 million barrels per day ...

Economy Huawei seals 46 commercial 5G deals globally
Author: 0 Huawei seals 46 commercial 5G deals globally

Huawei said it was well prepared for China's 5G commercial use. The evaluation feeds into a debate triggered by the U.S. demands that companies in Europe and other allied nations shun Huawei as a 5G equipment supplier because of Washington's fears it could compromise intelligence services.

Economy India's IT czar, founder of Wipro to step down next month
Author: 0 India's IT czar, founder of Wipro to step down next month

Wipro's Chief Executive Abidali Z. Neemuchwala will, however, succeed billionaire Premji as its Managing Director from July 31 till the end of his present term, in addition to being its Chief Executive Officer. Premji has headed Wipro since the late 1960s, turning into a behemoth in IT, consulting and business services present in over 50 countries with $8.5 billion in revenues.

Economy USA signed ‘another very important part’ of immigration deal with Mexico
Author: 0 USA signed ‘another very important part’ of immigration deal with Mexico

A law enforcement group of police officers, Marines, Military Police and immigration officials arrived at the area to intercept a caravan of migrants that had earlier crossed the Mexico - Guatemala border . However, three Mexican officials said that they're not aware of any such deal, according to a report by Bloomberg today. Critics have said there have been no new major commitments to slow the migration of Central Americans to the United States.

Economy Raytheon, United Technologies to merge
Author: 0 Raytheon, United Technologies to merge

The US spends hundreds of billions of dollars each year with defence firms. It would bring together Raytheon's expertise in missiles, targeting systems and defense electronics with Pratt & Whitney's jet engines business and Collins Aerospace's avionics expertise.

Economy 2 of Uber's top executives have reportedly left the company
Author: 0 2 of Uber's top executives have reportedly left the company

What impact will this have on you pressing a button and getting something delivered or hopping into a stranger's auto for a ride? Khosrowshahi credited the maturing of operations at the San Francisco-based company and the completion of its initial public offering last month with enabling him to make the management moves .

Author: 0 Mexico Tariffs Are Still Possible

A former director-general of the World Trade Organization (WTO), Pascal Lamy , said it was understandable that Mexico had sought to extricate itself from the tariff bind, but said Mexico ran the risk of more threats from Trump in the future.

Economy Beyond Meat sees sales more than doubling in 2019, shares jump 21%
Author: 0 Beyond Meat sees sales more than doubling in 2019, shares jump 21%

Shares jumped about 22% after hours, putting it above almost five times its IPO price of $25 per share. Beyond priced its initial public offering at $25 per share. As rival Impossible Foods deals with supply shortages of its plant-based burgers, Beyond Meat said Thursday that it has the capacity to take on any restaurant chain.

Economy Skyscraper with infinity pool to launch in London
Author: 0 Skyscraper with infinity pool to launch in London

You'll get a good view whether you're a front crawl fan or back stroke buff: if you're not gazing at unnervingly-close helicopters in the sky, the pool's floor will be transparent, allowing you to see straight down into the core of the building - and the people down there to gaze up at you in action.

Economy Weak US employment forecast casts pall over economic activity
Author: 0 Weak US employment forecast casts pall over economic activity

The unemployment data added pressure ahead of the meeting of the Fed on June 18 and 19 after the central bank said it was open to considering a possible drop in the face of concern over the escalation in trade tensions between the United States with China and Mexico .

Economy Uber to start helicopter service
Author: 0 Uber to start helicopter service

The helicopter will take passengers on eight-minute flights between Lower Manhattan and JFK International Airport in Queens. That is Uber's first multi-modal option, integrating an 8-minute helicopter flight with an Uber dart back and forth on each ends with a single tap of a button.

Economy Fred Meyer recalls frozen berries, juice due to hepatitis A risk
Author: 0 Fred Meyer recalls frozen berries, juice due to hepatitis A risk

No customer illnesses have been reported, according to a news release . "The FDA is continuing to investigate to determine whether there are other implicated products", the FDA said. This contamination was discovered by the FDA as a part of an ongoing frozen berry sampling assignment. The FDA alert did not state when the blackberries had been distributed to retailers or made available to consumers.

Economy Mexico Agree to New Deal on Trade, Illegal Immigration, Tariffs Suspended
Author: 0 Mexico Agree to New Deal on Trade, Illegal Immigration, Tariffs Suspended

Pascal Lamy , a former director-general of the WTO, says Mexico may be subject to more trade threats from US President Donald Trump . Mexico will "offer jobs, healthcare and education" to those people, according to the agreement. Mexican Foreign Minister Marcelo Ebrard, who quickly flew to Washington and had stayed ever since following Trump's tariff threat by Twitter on May 30, said he believed the two sides had found a compromise.

Economy Venezuela Reopens Border Crossing with Colombia
Author: 0 Venezuela Reopens Border Crossing with Colombia

Maduro had closed borders with Colombia, Brazil and Dutch Antilles islands as opposition leader Juan Guaido prepared to bring in US -backed humanitarian aid. The once-wealthy oil nation is now facing severe shortages of basic goods and hyperinflation that is expected to surpass 10 million percent this year, according to a recent International Monetary Fund estimate.

Economy Barnes & Noble sold to hedge fund Elliott Advisors for $683M
Author: 0 Barnes & Noble sold to hedge fund Elliott Advisors for $683M

The company's Nook e-reader device was also a flop, never catching on in the way that Amazon's Kindle did. "I've been quoted as saying that it's in the long-term interest of the overall book business that Barnes & Noble not just survive but grow and prosper".