Money
UK 'deeply disappointed' at US steel tariffs: PM Theresa May
- June 03, 2018
A monumental trade deal may have slipped away because of a controversial USA demand, Canadian Prime Minister Justin Trudeau told reporters Thursday. His strong words followed swift responses to his tariffs by Canada, Mexico and the European Union, which all plan to retaliate with levies on billions of dollars of USA goods from orange juice and whiskey to blue jeans and Harley-Davidsons. (more...)
- June 03, 2018
A monumental trade deal may have slipped away because of a controversial USA demand, Canadian Prime Minister Justin Trudeau told reporters Thursday. His strong words followed swift responses to his tariffs by Canada, Mexico and the European Union, which all plan to retaliate with levies on billions of dollars of USA goods from orange juice and whiskey to blue jeans and Harley-Davidsons. (more...)
Trump administration floats plan to save coal plants
- June 02, 2018
The plan would direct regional transmission operators to buy power from coal and nuclear plants for two years to ensure grid reliability, "promote the national defense and maximize domestic energy supplies". Under the Energy Department strategy, outlined in a memo obtained by Bloomberg News, the administration would invoke national defense needs - using authority granted under a pair of federal laws - to establish a strategic electric generation reserve and compel grid operators to buy ... (more...)
- June 02, 2018
The plan would direct regional transmission operators to buy power from coal and nuclear plants for two years to ensure grid reliability, "promote the national defense and maximize domestic energy supplies". Under the Energy Department strategy, outlined in a memo obtained by Bloomberg News, the administration would invoke national defense needs - using authority granted under a pair of federal laws - to establish a strategic electric generation reserve and compel grid operators to buy ... (more...)
Sears Is Closing at Least 63 More Stores, Here’s the Full List
- June 02, 2018
The latest round of closures - which will begin in early September - includes more than a dozen Kmart locations, as well as Sears stores in Atlanta, Indianapolis and Tampa. After this latest round of closures, the company will have about 800 stores, down from about 1,000 at the end of previous year and far below the 2012 peak of 4,000 stores. (more...)
- June 02, 2018
The latest round of closures - which will begin in early September - includes more than a dozen Kmart locations, as well as Sears stores in Atlanta, Indianapolis and Tampa. After this latest round of closures, the company will have about 800 stores, down from about 1,000 at the end of previous year and far below the 2012 peak of 4,000 stores. (more...)
Fiat Chrysler's five-year road map
- June 02, 2018
Fiat Chrysler CEO Sergio Marchionne called reports that the company would kill the Chrysler brand "nonsense" as he rolled out a five-year plan at the automaker's capital markets day event that made little mention of the namesake brand. In his presentation Mike Manley, head of the Jeep brand, confirmed the SUV marque will begin offering vehicle subscription services, use-based insurance, and fleet management services in the USA market. (more...)
- June 02, 2018
Fiat Chrysler CEO Sergio Marchionne called reports that the company would kill the Chrysler brand "nonsense" as he rolled out a five-year plan at the automaker's capital markets day event that made little mention of the namesake brand. In his presentation Mike Manley, head of the Jeep brand, confirmed the SUV marque will begin offering vehicle subscription services, use-based insurance, and fleet management services in the USA market. (more...)
China stocks take step forward with MSCI nod
- June 02, 2018
That means when Chinese shares are added to the index, money that follows the benchmark will have to buy Chinese stocks to avoid deviation. Some investors, however, predict much smaller inflows in the short term. trade war. The daily quota for "northbound" purchases of shares in each channel was quadrupled to 52 billion yuan on May 1. As more foreign investors - including large institutional investors and tracker funds - buy up A-shares, the ability of domestic retail investors to swing ... (more...)
- June 02, 2018
That means when Chinese shares are added to the index, money that follows the benchmark will have to buy Chinese stocks to avoid deviation. Some investors, however, predict much smaller inflows in the short term. trade war. The daily quota for "northbound" purchases of shares in each channel was quadrupled to 52 billion yuan on May 1. As more foreign investors - including large institutional investors and tracker funds - buy up A-shares, the ability of domestic retail investors to swing ... (more...)
Airline profits this year unlikely at December forecast level - IATA chief
- June 02, 2018
The International Air Transport Association (IATA) in its monthly update said April's air freight demand grew by 4.1 percent from the same period a year ago. All regions recorded year-over-year traffic increases, but all were behind the pace of growth reported in March. North American carriers global freight traffic was up 4% in April, down from 5.1%, a downward trend that has emerged since the end of 2017, IATA said. (more...)
- June 02, 2018
The International Air Transport Association (IATA) in its monthly update said April's air freight demand grew by 4.1 percent from the same period a year ago. All regions recorded year-over-year traffic increases, but all were behind the pace of growth reported in March. North American carriers global freight traffic was up 4% in April, down from 5.1%, a downward trend that has emerged since the end of 2017, IATA said. (more...)
Google won't renew contract for Project Maven, controversial Pentagon drone program
- June 02, 2018
Earlier this month, thousands of Google employees signed a letter asking the company to drop its contract with the government over Project Maven , and a dozen quit in protest as well. The sudden announcement on Friday was welcomed by several high-profile employees. Many observers noted that Google had previously disavowed military work and had once embraced the slogan " Don't Be Evil " as its corporate ethos. (more...)
- June 02, 2018
Earlier this month, thousands of Google employees signed a letter asking the company to drop its contract with the government over Project Maven , and a dozen quit in protest as well. The sudden announcement on Friday was welcomed by several high-profile employees. Many observers noted that Google had previously disavowed military work and had once embraced the slogan " Don't Be Evil " as its corporate ethos. (more...)
USA may open door to more temporary immigrant workers, Trump aide says
- June 02, 2018
I'd have closed the door of my office and let out a private exclamation of delight. "I would say not - in business, and certainly not to date as president". "Trump's tweet was a "comment" that violates this directive ", Lu tweeted. The report is given to senior White House officials the day before its release but is usually closely protected. (more...)
- June 02, 2018
I'd have closed the door of my office and let out a private exclamation of delight. "I would say not - in business, and certainly not to date as president". "Trump's tweet was a "comment" that violates this directive ", Lu tweeted. The report is given to senior White House officials the day before its release but is usually closely protected. (more...)
International Energy Agency forecasts 125 million electric cars on road by 2030
- June 02, 2018
State-owned Energy Efficiency Services Ltd., which is responsible for procuring electric cars to replace the petrol and diesel vehicles used by government officials, will roll out the first 10,000 vehicles by March 2019, Saurabh Kumar, the agency's managing director said. (more...)
- June 02, 2018
State-owned Energy Efficiency Services Ltd., which is responsible for procuring electric cars to replace the petrol and diesel vehicles used by government officials, will roll out the first 10,000 vehicles by March 2019, Saurabh Kumar, the agency's managing director said. (more...)
Pedro Sánchez, new Spanish prime minister, as no-confidence motion triumphs
- June 02, 2018
Challenged by a 25 per cent youth unemployment rate, an uprising by the breakaway Catalan region, and a deep financial crisis that threatened the solvency of the euro, Rajoy was brought down after six years in office by the scandals that have plagued his Popular Party. (more...)
- June 02, 2018
Challenged by a 25 per cent youth unemployment rate, an uprising by the breakaway Catalan region, and a deep financial crisis that threatened the solvency of the euro, Rajoy was brought down after six years in office by the scandals that have plagued his Popular Party. (more...)
Ticketfly Temporarily Shuts Down to Investigate Hack
- June 02, 2018
According to CNET , the hacker "appeared to have a database with more than 4,000 spreadsheets holding people's information, including email addresses, phone numbers, names and addresses". A spokesperson for Ticketfly told the Verge on Thursday that "security of client and customer data is our top priority". Eventbrite boasted that Ticketfly sells about 60 million tickets a year. (more...)
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- June 02, 2018
According to CNET , the hacker "appeared to have a database with more than 4,000 spreadsheets holding people's information, including email addresses, phone numbers, names and addresses". A spokesperson for Ticketfly told the Verge on Thursday that "security of client and customer data is our top priority". Eventbrite boasted that Ticketfly sells about 60 million tickets a year. (more...)
Goldman Sachs vice president charged in insider trading case
- June 02, 2018
The U.S. Attorney's office for the Southern District of NY on Thursday accused Woojae "Steve" Jung with using sensitive client information to trade the stocks of companies for which the bank was providing investment banking advisory services, according to a press release. (more...)
- June 02, 2018
The U.S. Attorney's office for the Southern District of NY on Thursday accused Woojae "Steve" Jung with using sensitive client information to trade the stocks of companies for which the bank was providing investment banking advisory services, according to a press release. (more...)
Sears and Kmart Are Closing 72 More Stores
- June 02, 2018
Sears and Kmart had a total of 3,500 USA stores between them when they merged in 2005, but that number of locations has been reduced with multiple rounds of store closings. So at this point, 275 stores could be set to close this year. The retailer announced it will begin closing sales in the near future. "Essentially, it has been injury by a thousand cuts, whether by failing to staff stores to provide customers with good experiences or by failing to stock better quality merchandise in its ... (more...)
- June 02, 2018
Sears and Kmart had a total of 3,500 USA stores between them when they merged in 2005, but that number of locations has been reduced with multiple rounds of store closings. So at this point, 275 stores could be set to close this year. The retailer announced it will begin closing sales in the near future. "Essentially, it has been injury by a thousand cuts, whether by failing to staff stores to provide customers with good experiences or by failing to stock better quality merchandise in its ... (more...)
Walmart launches Jetblack, a concierge shopping service via text message
- June 02, 2018
A customer pushes a shopping cart at a Walmart store in Chicago, Illinois, U.S. November 23, 2016. This is all done using the service's app via text-based messages and voice commands, at least based on a video released by Jetblack . In what may be the most freakish launch so far this year, Walmart has launched a premium shopping service using an unlikely mix of old and new technology ... (more...)
- June 02, 2018
A customer pushes a shopping cart at a Walmart store in Chicago, Illinois, U.S. November 23, 2016. This is all done using the service's app via text-based messages and voice commands, at least based on a video released by Jetblack . In what may be the most freakish launch so far this year, Walmart has launched a premium shopping service using an unlikely mix of old and new technology ... (more...)
Google Won't Renew Pentagon AI Drone Deal After Staff Backlash
- June 02, 2018
Disquiet around Google's involvement with US Pentagon programme Project Maven has been building for some months now. Diane Greene, the chief executive of the company's cloud business unit, recently told employees that revenue from Project Maven - a Pentagon program under development which aims to use artificial intelligence to help drones identify human ground targets without the assistance of human operators - was "only" for $9 million. (more...)
- June 02, 2018
Disquiet around Google's involvement with US Pentagon programme Project Maven has been building for some months now. Diane Greene, the chief executive of the company's cloud business unit, recently told employees that revenue from Project Maven - a Pentagon program under development which aims to use artificial intelligence to help drones identify human ground targets without the assistance of human operators - was "only" for $9 million. (more...)
Saskatchewan Officially Opens the Door for Services like Uber, Lyft
- June 02, 2018
The court, ruling in the case of drivers for a Southern California package delivery company, said workers must meet all of three criteria in order to be classified as independent contractors. Although Lyft said in a statement to the Chronicle that it would help the attorney's office "fully understand Lyft's business model, including our relationship with drivers", it's an issue that ride-sharing companies have fought fiercely . (more...)
- June 02, 2018
The court, ruling in the case of drivers for a Southern California package delivery company, said workers must meet all of three criteria in order to be classified as independent contractors. Although Lyft said in a statement to the Chronicle that it would help the attorney's office "fully understand Lyft's business model, including our relationship with drivers", it's an issue that ride-sharing companies have fought fiercely . (more...)
Fiat Chrysler CEO lays out grand plan before he retires
- June 02, 2018
But given that no plans were shared for Fiat , Dodge and Chrysler , it is unclear what the company has in mind for these brands in the coming years. Jeep is arguably FCA's crown jewel now that it has spun off Ferrari, and the company wants to launch a bevy of new models in the next few years. The aim is for one in 12 of every utility vehicle sold around the globe to be a Jeep, by the year 2022 - with an ultimate goal of that ratio reaching one in five. (more...)
- June 02, 2018
But given that no plans were shared for Fiat , Dodge and Chrysler , it is unclear what the company has in mind for these brands in the coming years. Jeep is arguably FCA's crown jewel now that it has spun off Ferrari, and the company wants to launch a bevy of new models in the next few years. The aim is for one in 12 of every utility vehicle sold around the globe to be a Jeep, by the year 2022 - with an ultimate goal of that ratio reaching one in five. (more...)
Populist government to be sworn in, ending Italy's political deadlock
- June 02, 2018
The president approved Conte and a rejiggered Cabinet list Thursday after Paolo Savona was moved from the economy slot to that of the ministry of European affairs. Vincenzo Visco, current head of the Bank of Italy and a former finance minister in leftist governments between 1996 and 2000, told the Corriere della Sera that Savona "has all the capacity and credibility" to fill the post but "two big problems". (more...)
- June 02, 2018
The president approved Conte and a rejiggered Cabinet list Thursday after Paolo Savona was moved from the economy slot to that of the ministry of European affairs. Vincenzo Visco, current head of the Bank of Italy and a former finance minister in leftist governments between 1996 and 2000, told the Corriere della Sera that Savona "has all the capacity and credibility" to fill the post but "two big problems". (more...)
Economy beats job growth estimates in May as unemployment continues to fall
- June 02, 2018
Payrolls increased 223,000 following a revised 159,000 gain, Labor Department figures showed Friday. The median estimate of analysts surveyed by Bloomberg called for 190,000 jobs. The fiscal boost from the Republican-backed tax cuts may also boost inflation at a time when the economy is near full employment, while a protracted trade war, sparked by Trump administration tariffs, would pose a growth risk. (more...)
- June 02, 2018
Payrolls increased 223,000 following a revised 159,000 gain, Labor Department figures showed Friday. The median estimate of analysts surveyed by Bloomberg called for 190,000 jobs. The fiscal boost from the Republican-backed tax cuts may also boost inflation at a time when the economy is near full employment, while a protracted trade war, sparked by Trump administration tariffs, would pose a growth risk. (more...)
Uber CEO Dara Khosrowshahi wants investment from Warren Buffett
- June 02, 2018
Buffett himself confirmed to CNBC that earlier this year he was discussing the investment with the Uber CEO Dara Kosroushahi, who was in the process of rebranding the company . The 87-year-old billionaire investor vaguely refuted some parts of the Bloomberg report that first exposed the interactions. Uber is a technology company that, compared to Apple , is small and startup-y . (more...)
- June 02, 2018
Buffett himself confirmed to CNBC that earlier this year he was discussing the investment with the Uber CEO Dara Kosroushahi, who was in the process of rebranding the company . The 87-year-old billionaire investor vaguely refuted some parts of the Bloomberg report that first exposed the interactions. Uber is a technology company that, compared to Apple , is small and startup-y . (more...)
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Home Price Index rises, July CPI unchanged