Money


European Union to impose countertariffs on United States products as of Friday European Union to impose countertariffs on United States products as of Friday
- June 21, 2018

The tariffs, which come as a direct reaction to U.S. President Donald Trump's decision to hit the European Union with tariffs on steel and aluminum, will apply from Friday, the Commission said in a press release . The tariffs, which will hit American products including motorcycles and denim, are a response to Trump administration tariffs on steel and aluminum exports from Europe. (more...)
Oil prices rise ahead of OPEC’s June 22 meeting Oil prices rise ahead of OPEC’s June 22 meeting
- June 21, 2018

Refineries' crude runs rose to 17.7 million barrels per day, the highest on record for this time of year, the EIA data showed. Oil catches some much-needed lift on United States crude stocks declines. It's anyone's guess what individual OPEC members will decide to do if the meeting ends without an agreement, but in all likelihood those that can produce more will do so, if only to keep their market share in the face of rising USA and other non-OPEC supply. (more...)
B.C. to spend $550M on Indigenous housing over next decade B.C. to spend $550M on Indigenous housing over next decade
- June 21, 2018

Housing Minister Selina Robinson says they know Indigenous Peoples face extraordinary housing challenges and the new fund will be a major step forward in making sure there is more safe and secure housing available. BC Housing will send out a request for proposals to identify prospective partners, including Indigenous non-profit housing providers, First Nations, Métis Nation British Columbia, and non-profit and for-profit developers, wanting to partner with Indigenous housing providers and ... (more...)
$4K a minute pours in to couple’s fundraiser for separated immigrant families $4K a minute pours in to couple’s fundraiser for separated immigrant families
- June 20, 2018

At last check, Charlotte and Dave Willner's efforts have raked in more than $8 million in five days. "We can confirm this is one of the largest fundraisers we've ever seen on Facebook ", Roya Winner, a spokeswoman for the social media giant, told The Washington Post. (more...)
EU Announces Tariffs On US Goods To Begin Friday EU Announces Tariffs On US Goods To Begin Friday
- June 20, 2018

Soon after the tariffs were first announced, the European Union had promised to retaliate with tariffs on a range of American products including things like blue jeans, bourbon, and motorcycles, if the tariffs were ever imposed on the EU. The European Commission said it would start charging import duties of 25 per cent on products including bourbon, jeans and motorbikes, in response to the United States decision to impose tariffs on EU steel and aluminium at the start of the month. (more...)
Stocks open sharply lower on trade tiff Stocks open sharply lower on trade tiff
- June 20, 2018

The company eventually made a decision to pull out of China, but still can not sell all its units and continues to rack up losses. "China's leaders will feel confident that they have the ability to loosen policy to cushion the blow if needed", Williams said . (more...)
Telstra to cut 8,000 jobs in major restructure
- June 20, 2018

Watch the full story above. The company's shares have lost more than half of their market value over the past three years. "I am acutely conscious the impact the loss of jobs has on our people and society", Mr Penn said in a presentation he will give at a strategy briefing on Wednesday. (more...)
Chief Economic Advisor Arvind Subramanian Quits Months Before Term Ends
- June 20, 2018

Arun Jaitley further confirmed that Subramanian's term will not be extended and he will be moving to the United States, former Finance Minister Arun Jaitley confirmed on Wednesday. He took charge as CEA in October 2014, succeeding Raghuram Rajan, who had moved to the Reserve Bank of India as Governor. "CEA job most rewarding, fulfilling, exciting I have ever had", he tweeted. (more...)
Crypto Exchange Bithumb Halts Withdrawals Amid $31 Million Hack Crypto Exchange Bithumb Halts Withdrawals Amid $31 Million Hack
- June 20, 2018

In January, South Korea banned the use of anonymous bank accounts for virtual coin trading to stop cryptocurrencies being used in money laundering and other crimes. Fortunately, Bithumb has been able to limit its breach to $30 million because the vast majority of its holdings were stored in a cold wallet or an offline cryptocurrency wallet that is not hackable. (more...)
Telstra restructure axes 8,000 jobs Telstra restructure axes 8,000 jobs
- June 20, 2018

The company, which has 32,000 employees, said one in four executive and middle management jobs will be eliminated over the next three years. Watch the full story above. Reducing 2-4 layers of management across the organisation. "It does raise the issue of ongoing employment as technology advances and obviously a lot of the technological advance makes many of these positions redundant because they're aiming to reduce the amount of customer service calls, for instance, by two-thirds by ... (more...)
Rs 12 lakh worth of notes destroyed by rats Rs 12 lakh worth of notes destroyed by rats
- June 20, 2018

The SBI ATM (DFBK - 000196116) in Laipuli area has been shut due to technical failure since May 20. An official from Sijuguri police station, who visited the ATM, said the problem was found out after a vault cutting unit arrived from Kolkata to check the malfunctioning machine. (more...)
Nearly half of all NBN users now on 50Mbps or faster
- June 20, 2018

The figures come from NBN's monthly progress report , which states that since December 2017, orders for wholesale speed tiers of 50 Mbps or higher have nearly tripled, increasing from 16% to 44%. "Our latest progress report shows in the previous year we have also improved our ability to work with internet providers to restore faults on the network within our agreed timeframes by 30%", Whitcomb continues. (more...)
CYGB in deal to buy Virgin Money for £1.7 billion CYGB in deal to buy Virgin Money for £1.7 billion
- June 20, 2018

It plans to retain the Virgin Money brand and will pay Richard Branson's Virgin Enterprises royalties of £15m per year as part of a licensing agreement, as well as allowing the conglomerate to nominate a non-executive director to the combined company's board. (more...)
Falling German crime stats 'speak for themselves,' Merkel says after Trump's tweet Falling German crime stats 'speak for themselves,' Merkel says after Trump's tweet
- June 20, 2018

In separate remarks, minister Seehofer said he'd be glad to see a European agreement, but he stressed that he doesn't rule out "a national solution unless a European settlement comes together". German Chancellor Angela Merkel plans to discuss the issue of migration with Italy's new premier on his first official trip to Berlin . Asked in Berlin whether her government can work well until the end of its term in 2021 and whether she is still in full control, Merkel replied: "Yes to ... (more...)
Huawei rejects Australia security concerns Huawei rejects Australia security concerns
- June 20, 2018

Already, a number of Asian tech companies - now way ahead of their United States counterparts in the development of 5G technology - have become victims. Mr Brumby insists repairing the relationship does not mean compromising Australia's values or interests. This decision is based on the criticism made by Malcolm Turnbull, the Australian PM, previous year regarding Chinese interference in the internal affairs of Australia. (more...)
Amazon Hub delivery lockers roll out across the US Amazon Hub delivery lockers roll out across the US
- June 20, 2018

Its new Hub machine, which is basically an Amazon Locker for people who live in apartments, is now being offered to building management companies around the country. What's more, couriers can drop off all packages at a single location instead of potentially having to go door to door for deliveries. According to Amazon, property companies AvalonBay, Fairfield Residential, Pinnacle, J.P. (more...)
Starbucks says it will close 150 poorly performing stores next year Starbucks says it will close 150 poorly performing stores next year
- June 20, 2018

Earlier this month, Howard Schultz stepped down as president, which fueled reports that he was gearing up for a 2020 presidential run. Starbucks said it now expects earnings in the range of $3.23 to $3.26 a share for the current fiscal year, down about a dime from its previous targets. (more...)
Verizon, AT&T, and Sprint have stopped selling their customers’ location data Verizon, AT&T, and Sprint have stopped selling their customers’ location data
- June 20, 2018

It's also important to note that Verizon said it will terminate its arrangements with data brokers "as soon as possible". None of the four carriers named any third parties, with two exceptions. Gigi Sohn, a former top advisor at the Federal Communications Commission in the Obama administration, said Verizon has lately proven itself a "shining example" on privacy. (more...)
Amazon Launches Alexa for Hospitality on Echo Smart Speakers, Marriot Signs Up Amazon Launches Alexa for Hospitality on Echo Smart Speakers, Marriot Signs Up
- June 20, 2018

Marriott International is scheduled to roll out the new Alexa experience at select properties in Marriott Hotels, Westin Hotels & Resorts, St. Regis Hotels & Resorts, Aloft Hotels and Autograph Collection Hotels starting this summer. The Hub is essentially a wall of safety deposit box-style lockers where packages from Amazon are stored by delivery providers, usually inside of an apartment building's lobby. (more...)
Microsoft employees revolt over firm's 'proud support' of US ICE Microsoft employees revolt over firm's 'proud support' of US ICE
- June 20, 2018

But this week, following the revelation that the agency was keeping children in metal cages, the company isn't so sure. On Monday morning, a Microsoft employee temporarily removed a passage about ICE from the blog post , which included language that said Microsoft is "proud to support" the agency's work. (more...)

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