Economy

Economy Fuel price reduction: Petrol is Rs 77.02/litre in Delhi, Rs 84.84
Author: 0 Fuel price reduction: Petrol is Rs 77.02/litre in Delhi, Rs 84.84

The petrol prices in Mumbai declined by 40 paise to ₹84.84 a litre, in Kolkata by 39 paise to ₹79.68 a litre and in Chennai by 0.42 paise to ₹79.95. Since no revision in diesel margins was made like the way petrol margins were revised based on the CPI, the OMCs claimed that they suffered a loss of Rs485 million from November 2017 to February 2018.

Economy Verizon CEO McAdam retiring, Vestberg named successor
Author: 0 Verizon CEO McAdam retiring, Vestberg named successor

McAdam, 64, will serve as executive chairman of the board through his retirement from the company at the end of the year. Before joining Verizon he worked six years as the chief executive of Ericcson, a networking and telecommunications company.

Economy Google bans its AI tech in weapons
Author: 0 Google bans its AI tech in weapons

The latter one is important, as while it is all well and good to outline internal processes and accountability, the nature of the world is technology can be used for purposes outside of the initial idea. The proposed limit on the use of AI for surveillance is positive, but the language was too cautious, the person said. They asked not to be identified criticising their employer.

Economy BT boss Gavin Patterson to step down
Author: 0 BT boss Gavin Patterson to step down

His decision to exit BT follows last month's announcement that the group would cut 13,000 jobs in a bid to deliver cost savings. On the other hand, he said the company's disappointing share price performance could represent an interesting entry point for fearless investors.

Economy KFC to test vegetarian fried chicken in Britain
Author: 0 KFC to test vegetarian fried chicken in Britain

KFC plans to introduce a faux meat alternative to its original chicken recipe in its aim to provide options to people with changing dining habits. In a statement , KFC said the recipe "is still in its very early stages, and so the options we're exploring in our kitchen are still top secret".

Economy Chuck Schumer Rips Trump Amid Reported ZTE Deal
Author: 0 Chuck Schumer Rips Trump Amid Reported ZTE Deal

The measure was introduced hours after Commerce Secretary Wilbur Ross announced that the US had agreed to lift the seven year ban on USA companies selling components and software to ZTE. The company has agreed that if it violates any of the terms of the agreement it will pay the $400 million and will enter into a ten-year suspension from exporting to the US.

Economy Oil prices extend losses after JPMorgan cuts forecast
Author: 0 Oil prices extend losses after JPMorgan cuts forecast

On Friday, Opec's third-largest producer Iran criticised a USA request that Saudi Arabia pump more oil to cover a drop in Iranian exports and predicted that Opec would not heed the appeal. Trump announced last month that the USA would back out of a deal with Iran that sought to curb the country's nuclear ambitions in exchange for sanctions relief.

Economy Trump Warns Against EU Trade Reprisals After Stormy G7 Summit
Author: 0 Trump Warns Against EU Trade Reprisals After Stormy G7 Summit

President Donald Trump speaks to the press as he leaves the G7 Summit in La Malbaie , Que. on Saturday. "For us it was important that we have a commitment to a rule-based trade order, that we continue to fight against protectionism and that we want to reform the World Trade Organization", Merkel told reporters after G7 talks in Quebec.

Author: 0 Trump Threatens To End Trade With United States' Closest Allies

Trump also suggested that Friday and Saturday's summit had been "very, very successful", and dismissed claims of tensions between the USA and other nations, describing their relationship "a 10". Russian Federation was suspended from the group in 2014 because of its annexation of Crimea from Ukraine. He added, "if they retaliate, they're making a mistake".

Economy Apple warns suppliers that iPhone demand is falling
Author: 0 Apple warns suppliers that iPhone demand is falling

It says the iPhone , which has contributed to 86% of Apple's revenue growth over the past five years, will make up just 22% of the company's revenue growth over the next five. While media speculation about demand for the iPhone X swirled in the past six months, Apple's market value has continued to rise and is now within striking distance of $1 trillion.

Economy Trump at G-7 summit: What you need to know
Author: 0 Trump at G-7 summit: What you need to know

Donald Tusk, who as president of the European Council is at the summit representing the EU, said the Trump administration and the rest of the group have clear differences on trade, climate change and the Iran nuclear deal . Scheer says the solution to the problem lies in a renegotiation of the Safe Third Country Agreement between Canada and the United States. Leaders in Europe, Canada, and Mexico have vowed to retaliate against these tariffs with economic penalties against us exports, ...

Economy Porsche to name all-electric model Taycan
Author: 0 Porsche to name all-electric model Taycan

The name was announced overnight during an event to celebrate 70 years since it registered its first vehicle, the 356 "No 1" Roadster. The new sedan promises to race from 0-100km/h in under 3.5 seconds, and hit 200km/h within 12 seconds. Porsche CEO Oliver Blume told us: "We will think of different options and there will be more than one, with different levels of power". There will likely be more extreme versions of this vehicle in the future.

Economy Kwesi Nyantakyi resigns as GFA President
Author: 0 Kwesi Nyantakyi resigns as GFA President

The association says it was alerted about the possibility of matchfixing in Ghana eight months ago. "It stemmed out of the controversies generated by investigative report of Tiger Eye PI", he added. According to local media reports, GFA boss Kwesi Nyantakyi has been ordered by President Akufo-Addo to step down following Anas' latest under-cover video which was premiered last Wednesday.

Economy No-deal Brexit could cost businesses £20bn a year, says tax head
Author: 0 No-deal Brexit could cost businesses £20bn a year, says tax head

Under the United Kingdom proposal, Britain would remain within a partial customs union with the EU for a limited period. British Prime Minister Theresa May forged a compromise with senior members of her government Thursday, agreeing that any interim arrangement to maintain customs links with the European Union after the United Kingdom leaves the bloc would be expected to last until the end of 2021 at the latest.

Economy Russian Federation 'not trying to split EU', says Putin
Author: 0 Russian Federation 'not trying to split EU', says Putin

Kennedy and Khrushchev met at a historic summit in Vienna in 1961, shortly after the US-backed invasion of Cuba's Bay of Pigs and amid tensions between the superpowers over Berlin. He also slammed the "persecution" of Russian business people overseas after billionaire industrialist Oleg Deripaska was targeted in United States sanctions and Chelsea football club owner Roman Abramovich faced delays to his British visa application.

Economy Late night shows slam Trump over canceled Eagles White House visit
Author: 0 Late night shows slam Trump over canceled Eagles White House visit

Others went silent. Our nation's president through a party on the south lawn of the White House. "We just never got a text", Qualls said . His teammates gave contradictory accounts or were unwilling to talk about the mini traveling party the Eagles reportedly planned to send to D.C.

Economy Heinz Salad Cream could become Sandwich Cream
Author: 0 Heinz Salad Cream could become Sandwich Cream

So why would Heinz do such a thing? A spokesman for Heinz told trade magazine the Grocer that the name no longer "fairly represents the product's ingredients or usage occasions". Seems fair enough. But still. Just because salad cream is not used on salads. "We pledge to keep Asda Salad Cream named as Asda Salad Cream, it's what the nation wants".

Economy Qatar Airways boss apologises for 'any offence caused' after sexist remark
Author: 0 Qatar Airways boss apologises for 'any offence caused' after sexist remark

Al Baker tried to diminish the scope of his comments. "I look forward to continuing my work in the coming year for a transparent and fair aviation industry the world over, a sector which will only continue to grow in the years ahead, and one in which I am most proud to work and represent the World's Best Airline", he added.

Economy Tesla on autopilot sped up before fatal solo crash in March
Author: 0 Tesla on autopilot sped up before fatal solo crash in March

According to the report, "As the Tesla approached the paved gore area dividing the main travel lanes of US-101 from the SH-85 exit ramp, it moved to the left and entered the gore area". At four seconds before the crash, the auto was no longer following the lead vehicle and at three seconds the cars speed increased from 100 Km/h to 114 Km/h.

Economy Microsoft Installs Prototype Underwater Datacenter
Author: 0 Microsoft Installs Prototype Underwater Datacenter

That means Microsoft's data center, which has its electricity supply delivered through an undersea cable, is also not adding to the ever-growing carbon emissions that are driving climate change. Microsoft is doing something that sounds very odd at first glance; it has taken a fully functional data center and sunk it into the dark ocean depths.

Economy Commerce Secretary: U.S. reaches deal with China’s ZTE
Author: 0 Commerce Secretary: U.S. reaches deal with China’s ZTE

This will allow the United States to claim a total penalty of as much as $1.7 billion. The compliance team will be in place for 10 years and monitor "on a real-time basis" ZTE's compliance with USA export control laws, the Commerce Department said in a release announcing the settlement.

Economy Trump Insults Canada In Private Phone Call With Trudeau Over Tariffs
Author: 0 Trump Insults Canada In Private Phone Call With Trudeau Over Tariffs

The White House did not respond to a request for comment and a Canadian official declined to comment on the record. Heather Conley, deputy assistant secretary of state dealing with northern and central Europe during the George W. A new report by Trade Partnerships Worldwide, an economic consulting firm in Washington D.C., found that these trade penalties and their resulting retaliation from foreign markets will initially boost the amount of jobs in the steel and aluminum manufacturing ...

Economy Senators consider bill aimed at Trump's tariffs
Author: 0 Senators consider bill aimed at Trump's tariffs

Asked if his shortening of the recess was aimed at pressuring Democrats to halt delaying tactics against Trump's nominees, McConnell showed no willingness of reviving the break if the pace of nominations quickens. Right now, the president is implementing tariffs on our allies, like Canada, Mexico, and the European Union - countries that don't pose national security threats but which are critical trading partners for North Dakota.

Economy Tesla Model 3 Ramp Continues - Musk Survives as Chairman
Author: 0 Tesla Model 3 Ramp Continues - Musk Survives as Chairman

After conceding that "staying alive" is hard in the auto industry, Musk told shareholders that Tesla will be "cash flow positive" during the second half of this year. Musk's comments came after shareholders re-elected three directors and voted against a proposal to wrest the chairman role from Musk. The shareholders ultimately voted to keep the three men on the board of directors.

Economy Apple announces iOS 12 with app updates and performance improvements
Author: 0 Apple announces iOS 12 with app updates and performance improvements

That means comparability will be fairly widespread, for iPhones and iPads . While apps like this already exist, having it built into iOS 12 is definitely a useful feature. So, if you really want to know what Apple has planned, you'll need to watch the keynote. Do Not Disturb (during bedtime) helps prevent you from being sucked into notification hell when you wake up in the middle of the night.

Economy Starbucks closes 8,000 stores for 'unconscious bias' training
Author: 0 Starbucks closes 8,000 stores for 'unconscious bias' training

Schultz said the woman "wanted us to understand the imprinting of that experience on her life", and that the group was so moved during the conversation that they paused for a short break. "They have to put different people in their stores", he said, acknowledging that Starbucks admitted to its problems and responded to them. Target says it plans to expand that training.

Economy Euro buried near multi-month low as Italian political crisis deepens
Author: 0 Euro buried near multi-month low as Italian political crisis deepens

USA crude futures CLc1 fell 0.3 percent to $68 a barrel after gaining 2.2 percent on Wednesday when Russia's central bank expressed caution on plans to boost oil supply.Prices had fallen to a six-week low of $65.80 a barrel on Tuesday amid concerns that Saudi Arabia and Russian Federation might increase their output.

Economy Howard Schultz to Step Down as Starbucks Executive Chairman
Author: 0 Howard Schultz to Step Down as Starbucks Executive Chairman

Mr Schultz, who retired as chief executive past year, is to relinquish his seat on the board on 26 June. In an interview with the New York Times , Mr Schultz did not rule out a run for president. On April 3, 2017, Schultz transitioned from ceo to executive chairman, shifting his full-time focus to the company's social impact initiatives as well as innovation and global development of the company's premium Reserve brand, including Starbucks Reserve Roasteries, Reserve stores and the ...

Author: 0 What to expect from Apple’s 2018 WWDC developer conference

Bloomberg reports that there will be updates to ARKit, the framework the company released past year to help developers build augmented-reality apps. In a demo with the Kayak app, Apple showed there's an "Add to Siri ". At the time, Apple said it was working on "new features and enhancements" to address the concerns, and in March it added a new webpage to educate parents about existing controls.

Economy New US tariffs would make trade deals void, China says
Author: 0 New US tariffs would make trade deals void, China says

At the meetings last week between lower-level Chinese and US officials, negotiations almost stalled as the two sides failed to reach an agreement on details for increasing Chinese purchases of USA crude oil, soybeans, natural gas, beef, and poultry.

Economy Tech / Google retreating from Pentagon's AI project
Author: 0 Tech / Google retreating from Pentagon's AI project

Thousands of staff signed the petition, which stated: "Google should not be in the business of war". The defense program, called Project Maven, set off a revolt inside Google, as factions of employees opposed Google technology being used in warfare.

Economy Jordanians protest price hikes, income tax draft law for 3rd day
Author: 0 Jordanians protest price hikes, income tax draft law for 3rd day

Some demonstrators blocked roads with their cars, while others held signs reading: "The people of Jordan will not kneel". The senators, according to the source, suggested that since the majority of the House members reject the amended income tax draft law, they can vote it down and forward it to the Senate, which would follow suit and return the bill to the government, as stipulated in the Constitution.