Economy

Economy Seattle city council repeals tax on businesses
Author: 0 Seattle city council repeals tax on businesses

The vote showed Amazon's ability to aggressively push back on government taxes, especially in its affluent hometown where it's the largest employer with more than 45,000 workers and where it has been criticized for contributing to a widening income gap.

Economy Plumber's win in Supreme Court will impact on FM contractors
Author: 0 Plumber's win in Supreme Court will impact on FM contractors

Organisations should undertake an audit of those arrangements to assess whether their consultants could in fact be deemed to be workers. Today's decision helps clarify certain issues - although it is not a business-friendly result. Jonathan Rennie, partner at United Kingdom law firm TLT, comments: "The judgment highlights the "regrettable" complexity of this area of employment law but also, and perhaps more importantly, how easy it is for employers to take the wrong approach when trying to ...

Economy Theranos founder Elizabeth Holmes steps down as CEO
Author: 0 Theranos founder Elizabeth Holmes steps down as CEO

Theranos claimed its innovative blood testing device would give quicker results using just a single drop of blood. "This indictment alleges a corporate conspiracy to defraud financial investors", FBI Special Agent in Charge John Bennett said in a statement .

Economy China announces equal penalties to retaliate for USA tariffs
Author: 0 China announces equal penalties to retaliate for USA tariffs

China said Friday it is retaliating against us tariffs by imposing penalties on the same scale against the United States. China's government renewed its threat Thursday, June 14, to scrap deals with Washington aimed at defusing a sprawling trade dispute as the White House prepared to release a list of Chinese goods targeted for tariff hikes.

Economy American Airlines technical issue cancels flights
Author: 0 American Airlines technical issue cancels flights

The Evansville Airport website confirms that American Airlines flights from Evansville to Charlotte have already been canceled today. The airline is encouraging all passengers to check their flight status on the American Airlines app, or aa.com, before heading to the airport.

Author: 0 McDonald's set to ditch plastic straws

Under pressure by environmentalists, McDonald's said Friday that it will start testing alternatives to plastic straws at select locations in the USA later this year. McDonald's will begin to withdraw plastic straws from sale in September. Plastic straws enable many disabled people to drink independently , Baroness Tanni Grey-Thompson said.

Economy Kellogg issues massive Honey Smacks cereal recall in US over Salmonella risk
Author: 0 Kellogg issues massive Honey Smacks cereal recall in US over Salmonella risk

The U.S. Food & Drug Administration said it worked with the company after preliminary evidence showed the cereal was linked to more than 70 illnesses, including 24 hospitalizations, in 31 states . Kellogg's company-written, FDA-posted recall notice said it's investigating the third party company that actually makes Honey Smacks. Salmonella is one of the most common food-borne illnesses, hitting 1.2 million people per year, according to the CDC.

Economy Donald Trump approves tariffs on about $50 billion of Chinese goods
Author: 0 Donald Trump approves tariffs on about $50 billion of Chinese goods

In April, the United States revealed an initial list targeting about 1,300 products worth USD$50 billion (RM199 billion) in Chinese imports. China has published its own list of threatened tariffs on $50 billion in US goods, including soybeans, aircraft, and autos, and has said it would hit back if Washington followed up with further measures.

Economy SEC Official Pushes Back on Claims Ether Is a Security
Author: 0 SEC Official Pushes Back on Claims Ether Is a Security

Bitcoin, too, rose as a result of this news. Bitcoin was under pressure for the most part of the week due to the Coinrail hack and ongoing probe into price manipulation by U.S. "How about cases when there's no longer a company [involved]?" Bitcoin has always been viewed by market participants as a commodity, which falls under the auspices of the Commodities and Futures Trading Commission.

Economy Microsoft working to eliminate cashiers and checkout lines in stores
Author: 0 Microsoft working to eliminate cashiers and checkout lines in stores

Microsoft has worked with partners to target the retail industry, rather than compete with them head-to-head the way that Amazon is doing. Cameras and sensors identify what they remove from the shelves. The company also has retail/point-of-sale solutions that it markets through its Dynamics 365 for Retail software and service offerings. One source revealed that making the technology cheap enough to interest retailers is a "major challenge" for Microsoft.

Economy China threatens to scrap US trade deals
Author: 0 China threatens to scrap US trade deals

The possible reduction of US military in the region has been a policy goal in China for years, especially in light of former US President Barack Obama's pivot to Asia, which was interpreted in Beijing as a means of containing the country's rise .

Economy OPEC raises Russia's oil output forecast
Author: 0 OPEC raises Russia's oil output forecast

An average of 33.34 million barrels a day is required from the group's 14 members in the second half of 2018, considerably higher than the 31.87 million they pumped last month, the report showed. OPEC and other producing countries including Russian Federation have cut oil output by 1.8 million barrels per day (bpd) since January 2017 in an effort to boost the market.

Economy New Tesla software to offer 'full' autonomy, Musk says
Author: 0 New Tesla software to offer 'full' autonomy, Musk says

Despite its name, Tesla's existing Autopilot technology is not true self-driving capability, but a set of advanced safety features that have also helped Tesla gather data for training its self-driving software. General Motors said last week that its driver assistance feature, Super Cruise, will allow drivers to take their hands off the steering wheel for extended periods, but will stop the vehicle automatically if drivers are not attentive.

Author: 0 Rolls-Royce to cut 4,600 jobs mainly in Britain

Rolls-Royce has 55,000 employees worldwide of which 26,000 are in Britain and this reduction in staff follows previous job cuts under East, who joined the company three years ago with a mandate to turn it around. Rolls said the latest round of restructuring was expected to cost the group £500 million. Speaking to the BBC, East said he saw opportunities in China.

Author: 0 Retail inflation accelerates to four-month high in May

The manufacturing sector, which constitute more than 77 per cent of the index, recorded a growth of 5.2 per cent in April, up from 2.9 per cent in the year ago month. However, the percentage change in the average composite CPI for the twelve-month period ending May, 2018 over the average of the CPI for the previous twelve-month period was 11.83%, which is a reduction of 0.19% from that of April.

Author: 0 Wetherspoons ditches Champagne, German beer and other EU drinks ahead of Brexit

Martin - a vocal eurosceptic - said the pub chain is reviewing all of its products in a company-wise reshuffle which could take up to two years, something he hopes will make the business "more competitive". Wetherspoon's will continue to serve Kopparberg cider from Sweden. Wetherspoon will sell more drinks from the United Kingdom and non-EU brewers in the run up to Brexit.

Author: 0 Trump bashes OPEC for 'high' oil prices

Two of Asia's largest crude buyers are considering teaming up to buy USA supplies and counter OPEC's dominance in the world's biggest oil market. Meanwhile, IEA sees non-OPEC supply rising by 2 million bpd this year, lead by growth from the U.S.

Economy New Uber Technology Would Detect Drunk Customers
Author: 0 New Uber Technology Would Detect Drunk Customers

The technology will detect this based on a number of factors like the typing speed of the users, how precisely they click buttons, accuracy while entering details, walking speed, the angle at which the device is held or dropped and even the time and day of the booking.

Author: 0 Fresh ABS figures show unemployment rate is down to 5.4 per cent

The more stable trend rate also dropped - from 5.8 per cent to 5.7 per cent. Full-time employment decreased 20,600 to 8,521,400 and part-time employment increased 32,600 to 3,996,900. Victoria fared the best of the states, generating 22,100 jobs, and its unemployment rate dropped to 5.1 per cent. However, WA defied the trend with the State's jobless rate edging down to 6.4 per cent.

Economy Whole Foods Launches Free Two-Hour Delivery Service in Boston
Author: 0 Whole Foods Launches Free Two-Hour Delivery Service in Boston

Amazon's $13.7 billion acquisition of Whole Foods Market previous year resulted in the launch of a free two-hour delivery of natural and organic products through Prime Now in February. "Today's announcement is another way that we are continuing to expand access to our high-quality products and locally-sourced favorites". Starting Wednesday (June 13), the University Place store at 3515 Bridgeport Way W.

Economy Average worker can't afford 2-bedroom apartment anywhere in U.S., report says
Author: 0 Average worker can't afford 2-bedroom apartment anywhere in U.S., report says

The annual Out of Reach report from the National Low Income Housing Coalition analyzed every county in the US and found that there isn't anywhere that someone working a minimum wage job, 40 hours a week, can afford a two-bedroom. Diane Yentel, president and CEO of the National Low Income Housing Coalition, said in a press release that low wage workers often have to choose between paying for rent, health care, childcare, and other basic necessities.

Economy What-a-bummer: Whataburger pulls white buns from stores
Author: 0 What-a-bummer: Whataburger pulls white buns from stores

Lang added: 'We chose to close all of our Texas stores until we are confident that we can serve our normal high quality bun'. "At Raising Cane's, we never sacrifice quality and because of this, our Texas restaurants are regrettably not serving our Texas toast".

Economy Elon Musk buys $25m in Tesla stock after job cuts news
Author: 0 Elon Musk buys $25m in Tesla stock after job cuts news

Tesla's AutoPilot engineers have been pushing out updates to make sure drivers pay attention to the road when using the driver assistance system. In a tweet published Wednesday, Tesla CEO Elon Musk said that his company plans to change the Autopilot "screen alert to clarify that we mean 'slight up or downward force on the wheel, '" meaning that simply touching the wheel would not dismiss the notification.

Economy Trump trade adviser apologises for insulting Trudeau
Author: 0 Trump trade adviser apologises for insulting Trudeau

Not specifically, but figuratively. "We are being taken advantage of by virtually every one of those countries", Trump said Tuesday of the G-7. Oh, he got them to pledge to consider denuclearizing, just like they've done more than a dozen times in the last 30 years, made that same pledge.

Author: 0 US, Mexico and Canada to host 2026 World Cup finals

Venues for the 2026 World Cup, which is slated to be the first WC to feature 48 teams, will be chosen from 23 stadiums that now exist or are already under construction. Those cities won't be announced until 2020, but Kansas City could be one of them. It is the fifth time Morocco has failed with a bid to host the tournament.

Economy Cryptocurrency tether used to boost bitcoin prices, study finds
Author: 0 Cryptocurrency tether used to boost bitcoin prices, study finds

Price manipulation and collusion may be to blame. Using algorithms to analyze the blockchain data, we find that purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices . As CCN reported , Tether has increasingly come under scrutiny as the tether token's market cap has swelled over the past calendar year. The Commodity Futures Trading Commission subpoenaed both Bitfinex and Tether in December, over concerns about if Tether ...

Author: 0 Italy and France trade insults as migration row boils over

In a speech to the senate on Wednesday, Matteo Salvini - who is also Italy's interior minister and head of the nationalist League party - said that France had only taken in 640 of the more than 9,000 people it had promised to take from Italy.

Economy ‘Plain English’ Powell Praises U.S. Economy After Rate Hike
Author: 0 ‘Plain English’ Powell Praises U.S. Economy After Rate Hike

He also announced that starting in January he'd take questions from the media after every meeting, though he cautioned that "having twice as many press conferences does not signal anything". In the longer run, it maintained the forecast for 1.8% growth. "He is someone who thinks the USA economy has a lot of room at the margin". The nightmares that long haunted both hawks and doves have not come to pass, even as the Fed held interest rates near zero for years and snapped up some $3.5 ...

Economy Germany Fines Volkswagen $1.2 Billion Over Diesel Scandal
Author: 0 Germany Fines Volkswagen $1.2 Billion Over Diesel Scandal

Germany's government on Monday ordered Daimler to recall almost 240,000 cars fitted with illicit emissions-control devices, part of a total of 774,000 models affected in Europe as a whole. VW said it held a board meeting to discuss the crisis, with members of the supervisory board also being informed. "Further steps are necessary to gradually restore trust again in the company and the auto industry".

Economy Ryanair launches new flights from Dublin to London Southend
Author: 0 Ryanair launches new flights from Dublin to London Southend

The news follows warnings the airline planned a pivot away from the United Kingdom thanks to Brexit, and news that just 10% of Ryanair's growth will be in the United Kingdom this year, compared to 25% in Germany. Ryanair's latest expansion will see three aircraft based at the regional airport, delivering an estimated one million passengers on 13 new routes including Alicante, Barcelona Reus, Bilbao, Brest, Corfu, Faro, Milan Bergamo and Dublin.

Economy This Uber patent-pending app catches drunken driver, alerts passengers, especially women
Author: 0 This Uber patent-pending app catches drunken driver, alerts passengers, especially women

The time of day the ride is requested and pickup location will also be factors in the final outcome. The company has reportedly applied for a patent for a piece of technology that would use machine learning to identify drunk customers. Professor Andre Spicer, from Cass Business School in London, told the Telegraph: 'This opens up the opportunity for drivers to identify drunk passengers and potentially take advantage of it.

Economy Fed raises interest rates and signals faster hikes on the way
Author: 0 Fed raises interest rates and signals faster hikes on the way

The central bank raised the federal funds rate to a 1.75-2 percent target range, the second increase under Fed Chairman Jerome Powell. Policymakers projected a slightly faster pace of rate increases in the coming months, with two additional hikes expected by the end of this year, compared to one previously.

Economy Nolte: Never Trump Fanatics Go Insane over Trump-Kim Summit
Author: 0 Nolte: Never Trump Fanatics Go Insane over Trump-Kim Summit

North Korea no longer poses a nuclear threat to the rest of the world, or at least that is according to U.S. President Donald Trump . Trump's Tuesday meeting with North Korean leader Kim Jong Un produced a wave of USA concessions in exchange for vague, nonbinding promises from North Korea .

Economy Justin Trudeau's eyebrow raises a lot of eyebrows
Author: 0 Justin Trudeau's eyebrow raises a lot of eyebrows

But a source close to Trudeau told AFP Canada was "prepared for all eventualities". The U.S. had granted some allies including Canada temporary exemption from import tariffs on steel and aluminum. "He'll learn, he can't do that", Mr Trump said. "POTUS is not going to let a Canadian Prime Minister push him around", said Larry Kudlow, director of the National Economic Council.