Money
SoftBank invests $2.25 bn in GM's self-driving cars
- June 01, 2018
Specifically, SoftBank Vision Fund, Softbank's investment fund group, will bankroll $2.2 billion into GM Cruise, General Motors' self-driving department, in return for a 20% stake, GM announced today in a statement . Such is that swiftness - rivals have derided it as aggressiveness - that SoftBank is often willing to pour huge sums into early startups at enormous valuations, crowding out other potential investors in the process. (more...)
- June 01, 2018
Specifically, SoftBank Vision Fund, Softbank's investment fund group, will bankroll $2.2 billion into GM Cruise, General Motors' self-driving department, in return for a 20% stake, GM announced today in a statement . Such is that swiftness - rivals have derided it as aggressiveness - that SoftBank is often willing to pour huge sums into early startups at enormous valuations, crowding out other potential investors in the process. (more...)
Extra super accounts cost Aussies $2.6b
- June 01, 2018
Becoming an employer's nominated fund, known as a default fund, is big business. That happens every time someone starts a new job. Financial services minister Kelly O'Dwyer said the report was confirmation many funds were not operating "in the interest of members". (more...)
- June 01, 2018
Becoming an employer's nominated fund, known as a default fund, is big business. That happens every time someone starts a new job. Financial services minister Kelly O'Dwyer said the report was confirmation many funds were not operating "in the interest of members". (more...)
Dollar falls, euro recovers as Italy tries to end turmoil
- June 01, 2018
Milan-listed equities snapped a five-day losing streak and bounced nearly 2 percent while short-dated Italian bond yields - a sensitive gauge of political risk - fell more than half a percent from half-decade highs. Also Friday: some onshore Chinese stocks join MSCI Inc.'s global indexes. China meanwhile had lashed out on Wednesday at renewed threats from the White House on trade, warning that it was ready to fight back if Washington was looking for a trade war, days ahead of a planned visit ... (more...)
- June 01, 2018
Milan-listed equities snapped a five-day losing streak and bounced nearly 2 percent while short-dated Italian bond yields - a sensitive gauge of political risk - fell more than half a percent from half-decade highs. Also Friday: some onshore Chinese stocks join MSCI Inc.'s global indexes. China meanwhile had lashed out on Wednesday at renewed threats from the White House on trade, warning that it was ready to fight back if Washington was looking for a trade war, days ahead of a planned visit ... (more...)
Air India sale attracts zero interest
- June 01, 2018
In a major setback to the Air India disinvestment process, the government said no initial bids were received for the proposed strategic stake sale of the airline by the deadline today, and that "further course of action will be decided appropriately". (more...)
- June 01, 2018
In a major setback to the Air India disinvestment process, the government said no initial bids were received for the proposed strategic stake sale of the airline by the deadline today, and that "further course of action will be decided appropriately". (more...)
Trudeau declines to meet Trump after Pence sets precondition
- June 01, 2018
President TrumpDonald John TrumpKoch brothers company tweets support for Kim Kardashian after Trump meeting Romney reveals he wrote in wife's name for president in 2016 Pompeo has dinner with top North Korean official in NY: report MORE issued a stern warning to Canadian Prime Minister Justin Trudeau on Thursday, saying that the USA would either accept a "fair deal" on the North American Free Trade Agreement (NAFTA) or none at all. (more...)
- June 01, 2018
President TrumpDonald John TrumpKoch brothers company tweets support for Kim Kardashian after Trump meeting Romney reveals he wrote in wife's name for president in 2016 Pompeo has dinner with top North Korean official in NY: report MORE issued a stern warning to Canadian Prime Minister Justin Trudeau on Thursday, saying that the USA would either accept a "fair deal" on the North American Free Trade Agreement (NAFTA) or none at all. (more...)
China cuts import duties on some consumer goods
- June 01, 2018
The White House's latest move signals the more hawkish wing of Trump's trade team is trying to amplify its hard line, after Treasury Secretary Steven Mnuchin said this month that any talk of a trade war was suspended for now. "Whatever measures the United States takes, China has the confidence, capability and experience to defend the interests of Chinese people and the core interests of the country ", the ministry said in a statement published by official new agency Xinhua . (more...)
- June 01, 2018
The White House's latest move signals the more hawkish wing of Trump's trade team is trying to amplify its hard line, after Treasury Secretary Steven Mnuchin said this month that any talk of a trade war was suspended for now. "Whatever measures the United States takes, China has the confidence, capability and experience to defend the interests of Chinese people and the core interests of the country ", the ministry said in a statement published by official new agency Xinhua . (more...)
European Union to impose measures against 'unacceptable' United States metal tariffs
- June 01, 2018
Officials said the import taxes would take effect on Friday. Worries about a United States trade war with the European Union weighed on Wall Street stocks. "Global trade is not a gunfight at the OK Corral ", France's finance minister quipped after meeting US Commerce Secretary Wilbur Ross , as reported by PTI. (more...)
- June 01, 2018
Officials said the import taxes would take effect on Friday. Worries about a United States trade war with the European Union weighed on Wall Street stocks. "Global trade is not a gunfight at the OK Corral ", France's finance minister quipped after meeting US Commerce Secretary Wilbur Ross , as reported by PTI. (more...)
French magazine targeted over Erdogan 'the dictator' cover
- June 01, 2018
The central bank's policy committee is due to meet again on June 7. Investors have long said the central bank should use a single rate to set funding. Until now, the Ankara Central Bank has used a large number of interest rates to regulate the market, often with a confusing effect on the participants. (more...)
- June 01, 2018
The central bank's policy committee is due to meet again on June 7. Investors have long said the central bank should use a single rate to set funding. Until now, the Ankara Central Bank has used a large number of interest rates to regulate the market, often with a confusing effect on the participants. (more...)
Starbucks closes stores, asks workers to talk about race
- June 01, 2018
The closing could cost Starbucks as much as $12 million in profits , by some estimates. Starbucks has described it as a "collaborative and engaging experience for store partners to learn together". For many , the training was overshadowed by ABC's decision to cancel hit sitcom "Roseanne" after its star Roseanne Barr, a Trump supporter, made a remark decried as racist against former White House aide Valerie Jarrett. (more...)
- June 01, 2018
The closing could cost Starbucks as much as $12 million in profits , by some estimates. Starbucks has described it as a "collaborative and engaging experience for store partners to learn together". For many , the training was overshadowed by ABC's decision to cancel hit sitcom "Roseanne" after its star Roseanne Barr, a Trump supporter, made a remark decried as racist against former White House aide Valerie Jarrett. (more...)
Trump to implement steel, aluminum tariffs against EU, Canada and Mexico
- June 01, 2018
Whether with imports of steel, aluminium and cars, or the bilateral relationship with China, at some point the Trump administration may decide to show the world that it is not bluffing. On May 23rd, days before a scheduled meeting with the European Union and Japan on a joint trade strategy and in the middle of talks to revamp the North American Free-Trade Agreement (NAFTA), it began an investigation into whether vehicle imports are a threat to America's national security. (more...)
- June 01, 2018
Whether with imports of steel, aluminium and cars, or the bilateral relationship with China, at some point the Trump administration may decide to show the world that it is not bluffing. On May 23rd, days before a scheduled meeting with the European Union and Japan on a joint trade strategy and in the middle of talks to revamp the North American Free-Trade Agreement (NAFTA), it began an investigation into whether vehicle imports are a threat to America's national security. (more...)
Modi meets Dr Mahathir
- June 01, 2018
Prime Minister Narendra Modi will make a short halt in Malaysia on Thursday, May 31, while heading to Singapore from Indonesia - his second worldwide destination in his three-nation visit. Malaysia and India enjoy a good relationship through cultural and historical links as well as in various key areas, particularly infrastructure development, education, tourism, and defence. (more...)
- June 01, 2018
Prime Minister Narendra Modi will make a short halt in Malaysia on Thursday, May 31, while heading to Singapore from Indonesia - his second worldwide destination in his three-nation visit. Malaysia and India enjoy a good relationship through cultural and historical links as well as in various key areas, particularly infrastructure development, education, tourism, and defence. (more...)
Tesla Model 3 sets 606-mile range record, then dies
- June 01, 2018
But as production capacity keeps increasing, Model 3 price will edge lower. It was the first European country to receive Tesla Model S and I am pretty sure Model 3 will also be delivered in Norway before it lands in any other European nation. (more...)
- June 01, 2018
But as production capacity keeps increasing, Model 3 price will edge lower. It was the first European country to receive Tesla Model S and I am pretty sure Model 3 will also be delivered in Norway before it lands in any other European nation. (more...)
NAFTA Talks Continue, Time Running Short
- June 01, 2018
Asked if he was prepared to retaliate, Trudeau sidestepped a direct answer. Speaking May 28 in Ottawa, Freeland said the government is standing "firmly behind" her country's autoworkers and chastised US officials for the premise of auto tariffs - that Canada's vehicle-manufacturing industry threatened USA national security. (more...)
- June 01, 2018
Asked if he was prepared to retaliate, Trudeau sidestepped a direct answer. Speaking May 28 in Ottawa, Freeland said the government is standing "firmly behind" her country's autoworkers and chastised US officials for the premise of auto tariffs - that Canada's vehicle-manufacturing industry threatened USA national security. (more...)
India pips China in GDP growth at 7.7% for Q4
- May 31, 2018
Growth for Asia's third-largest economy , reported by the Ministry of Statistics, trumped forecasts in a Reuters poll for annual growth of 7.3 per cent. The Reserve Bank of India needs to keep interest rates unchanged next week to boost growth and lend a helping hand to manufacturers who are struggling to access bank loans, Kumar said. (more...)
- May 31, 2018
Growth for Asia's third-largest economy , reported by the Ministry of Statistics, trumped forecasts in a Reuters poll for annual growth of 7.3 per cent. The Reserve Bank of India needs to keep interest rates unchanged next week to boost growth and lend a helping hand to manufacturers who are struggling to access bank loans, Kumar said. (more...)
Bombardier bets on Global business
- May 31, 2018
Montreal-based Bombardier is banking on the Global 7500 , which will sell for about US$73 million, to contribute about US$3 billion in annual revenue at the start of the next decade. Revenues from sales of the 5500 and 6500 will be part of Bombardier's five-year turnaround plan that leans heavily on delivery of its flagship, Global 7000 business jet to achieve a 25 percent jump in total company revenues to $20 billion by 2020, compared with 2017. (more...)
- May 31, 2018
Montreal-based Bombardier is banking on the Global 7500 , which will sell for about US$73 million, to contribute about US$3 billion in annual revenue at the start of the next decade. Revenues from sales of the 5500 and 6500 will be part of Bombardier's five-year turnaround plan that leans heavily on delivery of its flagship, Global 7000 business jet to achieve a 25 percent jump in total company revenues to $20 billion by 2020, compared with 2017. (more...)
Markets Right Now: Stocks open higher on Wall Street
- May 31, 2018
The blue chip benchmark shrugged off a fall in the pound as it resumed trading after a long holiday weekend. "However, we will have to wait for more reliable indicators to be published in order to get a clearer picture of the health of China's economy ", Julian Evans-Pritchard of Capital Economics said in a commentary. (more...)
- May 31, 2018
The blue chip benchmark shrugged off a fall in the pound as it resumed trading after a long holiday weekend. "However, we will have to wait for more reliable indicators to be published in order to get a clearer picture of the health of China's economy ", Julian Evans-Pritchard of Capital Economics said in a commentary. (more...)
Waymo to get more than 60,000 cars from Fiat Chrysler for robotaxis
- May 31, 2018
On the same day General Motors and Japan's SoftBank announced a massive $3.35 billion investment in GM's Cruise self-driving-car division, Waymo and Fiat Chrysler Automobiles revealed an expansion of their partnership - and dangled an intriguing new business option. (more...)
- May 31, 2018
On the same day General Motors and Japan's SoftBank announced a massive $3.35 billion investment in GM's Cruise self-driving-car division, Waymo and Fiat Chrysler Automobiles revealed an expansion of their partnership - and dangled an intriguing new business option. (more...)
Oil prices steady after shake-out on supply worries
- May 31, 2018
On May 25, sources told Reuters that Saudi Arabia and Russian Federation are discussing raising OPEC and non-OPEC oil output by around 1 million bpd. At 0728 GMT, July WTI crude oil is trading $68.03, down $0.18 or -0.26% and August Brent crude oil is at $77.30, down $0.20 or -0.26%. USA production is also likely to have risen last week, from 10.725 million bpd last week. (more...)
- May 31, 2018
On May 25, sources told Reuters that Saudi Arabia and Russian Federation are discussing raising OPEC and non-OPEC oil output by around 1 million bpd. At 0728 GMT, July WTI crude oil is trading $68.03, down $0.18 or -0.26% and August Brent crude oil is at $77.30, down $0.20 or -0.26%. USA production is also likely to have risen last week, from 10.725 million bpd last week. (more...)
Two-day nationwide bank strike begins in India
- May 31, 2018
However, the strike will not affect online banking transactions such as net banking, mobile banking and ATM transactions. The last hike in 2012 was of 15%. The IBA did not do anything. "The CLC tried his best to sort out the strike-related issues but there is no positive development". Without naming them, the IBA representative told the CLC that the six banks were opposed to the move of covering general-manager level officials. (more...)
- May 31, 2018
However, the strike will not affect online banking transactions such as net banking, mobile banking and ATM transactions. The last hike in 2012 was of 15%. The IBA did not do anything. "The CLC tried his best to sort out the strike-related issues but there is no positive development". Without naming them, the IBA representative told the CLC that the six banks were opposed to the move of covering general-manager level officials. (more...)
Achtung baby: Trump wants German cars out of America
- May 31, 2018
Within the EU, Germany is the biggest exporter of cars to the United States. Citing several unnamed European and USA diplomats, the magazine said on Thursday that he told Macron in April he would stick to his trade policy for long enough until no Mercedes-Benz models were rolling down New York's Fifth Avenue. (more...)
- May 31, 2018
Within the EU, Germany is the biggest exporter of cars to the United States. Citing several unnamed European and USA diplomats, the magazine said on Thursday that he told Macron in April he would stick to his trade policy for long enough until no Mercedes-Benz models were rolling down New York's Fifth Avenue. (more...)
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Apple iPhone sales in China plunged 20% in 4Q