Money


Trump meets with Fed's Powell at White House Trump meets with Fed's Powell at White House
- November 19, 2019

Powell's statement said the Federal Reserve would continue to set monetary policy independently. Trump had repeatedly lashed out at the Fed's monetary policies in recent months, renewing his criticism last week that the central bank's hesitation in lowering the interest rates impeded US economic growth and capped gains in the stock market. (more...)
Lawsuit: Burger King fake meat prep violates vegan rights Lawsuit: Burger King fake meat prep violates vegan rights
- November 19, 2019

Williams bought an Impossible Whopper without mayonnaise (problematic for a vegan, with eggs among the condiment's ingredients) from a Burger King drive-thru in Atlanta because he saw no signs saying it was cooked on the same grill as an animal-based Whopper. (more...)
Chick-fil-A pulls funding for Christian groups criticised for LGBT stance Chick-fil-A pulls funding for Christian groups criticised for LGBT stance
- November 19, 2019

Think Progress reported that it gave $1.8 million in 2017 to three groups that actively work against LGBTQ people : 'The Fellowship of Christian Athletes is a religious organization that seeks to spread an anti-LGBTQ message to college athletes and requires a strict "sexual purity" policy for its employees that bars any "homosexual acts". (more...)
WeWork could lay off nearly half of its employees this week WeWork could lay off nearly half of its employees this week
- November 19, 2019

WeWork is getting ready to cut at least 4,000 jobs in a bid to attain financial stability, and people layoffs may very well be introduced as early as this week, The New York Times reported late Sunday . SoftBank, the Japanese conglomerate that is WeWork's largest outside shareholder, last month announced a plan to bail out the company and is now trying to stabilize the business. (more...)
Ford rolls out Mustang SUV Ford rolls out Mustang SUV
- November 19, 2019

Last week Ford thought it played it coy only revealing the name of its first all-electric vehicle (the Ford Mustang Mach-E), but after some simple poking around the Ford website , images, video, specs, and prices of the upcoming vehicles were leaked ahead of Sunday's big reveal in Los Angeles. (more...)
Aurora Cannabis (TSE:ACB) Sets New 52-Week Low at $3.59 Aurora Cannabis (TSE:ACB) Sets New 52-Week Low at $3.59
- November 18, 2019

Industry-wide, cannabis company valuations are down about 40 percent since the start of the year. Aurora Cannabis (NYSE: ACB ) last posted its quarterly earnings results on Thursday, November 14th. The company stated it would immediately cease construction activity at its Aurora Nordic 2 facility in Denmark to save an estimated $80 million over the next 12 months. (more...)
PM Johnson to tell business chiefs he will end uncertainty PM Johnson to tell business chiefs he will end uncertainty
- November 18, 2019

Johnson's speech Monday to United Kingdom business leaders ahead of Britain's December 12 general election was overshadowed by tech entrepreneur Jennifer Arcuri, who accused the prime minister of discarding her "like some fleeting one-night stand" amid a media storm about their relationship. (more...)
Oil prices hold above $63 on trade talk optimism, OPEC Oil prices hold above $63 on trade talk optimism, OPEC
- November 18, 2019

The United States apparently has become a net exporter of crude oil and petroleum products for the first time in at least 70 years, the U.S. Energy and Information Administration reported this week. A brighter outlook would lessen the case for the producers, known as OPEC+, to deepen their supply cuts. OPEC and its partners have been limiting supply since 2017, helping revive prices by clearing a glut that built up in 2014-2016 when producers pumped at will. (more...)
HP Inc rejects Xerox deal, but happy to keep talking HP Inc rejects Xerox deal, but happy to keep talking
- November 18, 2019

HP Inc said on Sunday (Nov 17) it had rejected an offer from printer maker Xerox Corp to buy the company, saying the US$33.5 billion (S$45.5 billion) cash-and-stock proposal "significantly undervalues" the personal computer maker. "We have great confidence in our strategy and our ability to execute to continue driving sustainable long-term value at HP", the letter, signed by Board chair Chip Bergh and CEO and President Enrique Lores. (more...)
WhatsApp flaw leaves users data vulnerable to attack from hackers WhatsApp flaw leaves users data vulnerable to attack from hackers
- November 18, 2019

When the video file is downloaded - something that can happen automatically in the app - the malicious code infects the account and lets the hacker steal information from the device. As The Next Web explains, there have been no reported incidents of the vulnerability being exploited in the wild, but that doesn't make it any less serious. (more...)
Yahoo Japan, Line to merge business Yahoo Japan, Line to merge business
- November 18, 2019

The conclusion "aims to bring together the business enterprise methods of the ZHD Group and the LINE Team, which have overpowering user bases and plentiful belongings in Japan, to supply a hassle-free working experience to buyers in Japan", the assertion talked about. (more...)
Another state has legalized marijuana. Sales begin December 1 Another state has legalized marijuana. Sales begin December 1
- November 18, 2019

Michigan's rules that allow for this product transfer require the State to announce a start date, end date, and other requirements for such transfers. "We want to provide an environment where businesses can supply the market as quickly as possible". The Marijuana Regulatory Agency anticipates there will be a demand in both mature markets and the medical use and work to limit the appeal of the forbidden-market marijuana, said harns. (more...)
US Supreme Court to hear Google bid to end Oracle copyright suit US Supreme Court to hear Google bid to end Oracle copyright suit
- November 18, 2019

Moreover, a favorable Supreme Court ruling for the database maker could have financial implications for many uninvolved companies as well. The database maker argues that this copying constituted a copyright violation while the Alphabet Inc. (more...)
European Union regulators circle on Apple Pay back European Union regulators circle on Apple Pay back
- November 17, 2019

Apple, however, claims this move could be harmful to users' payment experience and compromise the security and privacy of financial data. Amid a growing chorus of problems, the European Union is eager to reveal that it is ahead on this concern after receiving yrs of criticism for its gradual reaction to the increase of Google, Fb and Amazon. (more...)
Saudi Aramco sets IPO share price between 30-32 riyals Saudi Aramco sets IPO share price between 30-32 riyals
- November 17, 2019

The prospectus, a 658-page document, said the final share price would be determined on December 5, a day after subscriptions close, in what is expected to be the world's biggest initial public offering. Aramco has scrapped plans to market the float to United States investors in favour of a careful focus on Middle Eastern institutional investors and ultra-high net worth individuals in the region where the company is confident of support. (more...)
IEA: Opec+ faces ‘major challenge’ from competitors’ surging output IEA: Opec+ faces ‘major challenge’ from competitors’ surging output
- November 17, 2019

Oil inventories in developed nations accumulated by about 9 million barrels during the third quarter, even as OPEC deliberately restrained output and Saudi Arabia lost supplies in the September 14 attack on its Abqaiq processing plant. The agency kept its assessments for growth in global oil demand in 2019 and 2020 at 1 million bpd and 1.2 million bpd respectively, but said its outlook might slightly underestimate the impact of tariffs from the U.S. (more...)
Bill Gates returns as world's richest man Bill Gates returns as world's richest man
- November 17, 2019

Amazon's Cloud arm AWS losing $10 billion Pentagon project to Microsoft has also helped the Satya Nadella-led company gain on the stock market. According to Bloomberg Billionaires Index, Gates has added US$19.5b to his fortune so far this year, while Bezos has lost US$16.2b. (more...)
Amazon protests Pentagon picking Microsoft for its $10B JEDI cloud contract
- November 17, 2019

The Joint Enterprise Defense Infrastructure (JEDI) cloud contract has been a hotly contested and acrimonious process among Amazon Web Services (AWS), Microsoft, IBM and Oracle. Microsoft was Amazon's only rival in the final bidding for the winner-take-all contract, despite employees urging it to drop out. The JEDI Cloud contract has a "ceiling value of $10,000,000,000 over a period of 10 years", the Pentagon said in a statement announcing it had been awarded to Microsoft. (more...)
Instagram likes totals will now disappear across the globe Instagram likes totals will now disappear across the globe
- November 17, 2019

However, they will still be able to see how many likes their own posts received. Instagram will be testing this with a select number of users, so you may or may not see the likes counter disappear. Beginning on Friday, some Instagram users in Indonesia won't be able to view the like counts on other users' posts. They can tap through to view the Likers list but would have to manually count them. (more...)
Markets Right Now: S&P 500 ekes out a record at the close Markets Right Now: S&P 500 ekes out a record at the close
- November 16, 2019

Cisco shares tumbled 7.8% after the network gear maker forecast second-quarter revenue and profit below expectations as increasing global economic uncertainties kept clients away from spending more on its routers and switches. Other notable index closes included the S&P 400 Mid-Cap Index at 1,991.48 for a gain of 5.02 points or 0.25%; the S&P 100 at 1,378.39 for a loss of 0.45 points or -0.033%; the Nasdaq 100 at 8,257.83 for a loss of 1.98 points or -0.024%; the Russell 3000 at 1,813.45 for ... (more...)

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