Money


Flying vehicle startup backed by Google founder offers test flights Flying vehicle startup backed by Google founder offers test flights
- June 08, 2018

A flying auto project has unveiled a model that can be taken for test flights by potential buyers. Kitty Hawk revealed its first vehicle past year. The company will sell first to partners interested in fleets of the craft, like amusement parks. The aim now is to get it in the hands of customers; people can express interest via the company's website . (more...)
Cambridge Analytica CEO accused of embezzling $8 million Cambridge Analytica CEO accused of embezzling $8 million
- June 08, 2018

He added that the Financial Times newspaper had been wrong in its report that resources had been taken out of the business as its collapse loomed. "The allegation is false, the facts are not correct". "Of course, the answer to this question should have been 'yes, '" Nix was quoted as saying by Reuters , when asked if Cambridge Analytica still held data from the researcher. (more...)
NTSB releases preliminary report on fatal Model X crash NTSB releases preliminary report on fatal Model X crash
- June 08, 2018

The U.S. National Transportation Safety Board issued a preliminary report on the March 23 crash showing that the driver's hands were detected on the steering wheel only 34 seconds during the last minute before impact. Earlier this year, a Utah woman crashed her Model S into a firetruck at 60 miles per hour while reportedly using Autopilot. "The focus is on what led to this crash and how do we prevent it from happening again". (more...)
Jobless rate is low, worker demand is high Jobless rate is low, worker demand is high
- June 08, 2018

For the first time in at least 20 years, there are now more job openings than there are people looking for work. Steady economic growth has encouraged employers to step up their hiring practices. Despite a robust number of jobs being added to the economy, wage growth is still lower than what analysts had expected. For example, data from the Federal Reserve Bank of Atlanta indicate that workers who switch jobs are starting to get healthier pay gains. (more...)
White House reportedly considering new economic penalties against Canada
- June 08, 2018

Trump withdrew from the Joint Comprehensive Plan of Action initially signed between Iran and a group that included China, Russia, France, Germany, the U.K. Last month he announced he was imposing tariffs on steel and aluminum imports from these countries, infuriating numerous foreign leaders who have pledged to confront him during the G-7. (more...)
Trustees warn Medicare's financial problems worsening Trustees warn Medicare's financial problems worsening
- June 07, 2018

That's because, according to the report , the government will collect less in income taxes, meaning less money will flow into the Medicare trust fund. A major reason for Social Security's long-term financial problems is a decline in the number of workers for each beneficiary. The Social Security Administration's main campus in Woodlawn, Md. (more...)
Trump asks if Canada burnt down White House in call with PM Trump asks if Canada burnt down White House in call with PM
- June 07, 2018

A lithograph print showing fire damage to the White House after burning by the British during the war of 1812 . Those discussions are likely to focus on Trump's decision last week to impose punishing tariffs on imports of steel and aluminum from Washington's closest allies, including Canada , the European Union and Japan. (more...)
Ethiopia 'accepts peace deal' to end Eritrea border war Ethiopia 'accepts peace deal' to end Eritrea border war
- June 07, 2018

It was referring to the state monopolies in the electricity, telecoms and logistics sectors, as well as the highly profitable national flag carrier. A former province, Eritrea became Ethiopia's bitter foe after a 1998-2000 border conflict followed by Ethiopia's refusal to accept the ruling of a UN-backed boundary commission that divided up contested territory between the two countries. (more...)
Heinz Change Salad Cream Name After 104 Years Heinz Change Salad Cream Name After 104 Years
- June 07, 2018

Just because salad cream is not used on salads. The survey found it is viewed by consumers as an alternative to mayonnaise, and popularly paired with tuna, ham or cheese in sandwiches. Salad Cream was launched by Heinz for the United Kingdom market. The spokesman added: "As a market-leading business, Kraft Heinz continues to audit its portfolio to meet the needs of consumers". (more...)
David Koch stepping away from his empire for health reasons David Koch stepping away from his empire for health reasons
- June 07, 2018

He has additionally given $185 million in complete donations to the Massachusetts Institute of Expertise, his alma mater. The Koch brothers were not full-throated in their support for Trump during the 2016 election. Officials said David Koch would transition to a director emeritus role at the company, the second largest privately held firm in the United States. (more...)
Six banking bosses charged over $2.5b capital plot involving ANZ Six banking bosses charged over $2.5b capital plot involving ANZ
- June 07, 2018

But the ACCC claimed after an investigation that there were "cartel arrangements relating to trading in ANZ shares" after the share placement. The bank did this via a $2.5 billion placement of shares underwritten by Deutsche and Citigroup. (more...)
Rats caught running through bag of buns at Burger King in Delaware Rats caught running through bag of buns at Burger King in Delaware
- June 07, 2018

Health department officials say when they inspected the establishment they found rodent droppings on and inside the hamburger rolls. Delaware's Division of Public Health Office of Food Protection received a complaint last Friday, according to Delaware Online . (more...)
Chuck Schumer Rips Trump Amid Reported ZTE Deal Chuck Schumer Rips Trump Amid Reported ZTE Deal
- June 07, 2018

Under the preliminary terms, ZTE will pay $1 billion in fines and place $400 million in escrow to guard against future violations. The company must allow full access to its facilities so investigators can verify U.S. According to the Hong Kong-based English-language daily, "The reprimand and forfeiture of bonuses were part of the original settlement that ZTE had reached with the U.S. (more...)
ZTE Signs Preliminary Agreement With Commerce Department To Lift US Ban
- June 07, 2018

The U.S. government is also reportedly planning to include the previous $361 million fine that ZTE paid as part of an earlier agreement in 2017 in this new settlement. If the reports are true, Trump "has put China, not the United States, first", Senate Minority Leader Chuck Schumer said on Twitter. The U.S.is in the midst of trade talks with China to avoid a tariff dispute from escalating into a full-blown trade war. (more...)
GOP senators push to rein in Trump on tariffs GOP senators push to rein in Trump on tariffs
- June 07, 2018

It remains an open question where Democrats sit on the bill - which was still being finalized Tuesday evening. Several lawmakers have said justifying tariffs on national security grounds was hurting US credibility and inviting retaliation that would hurt an otherwise solid economy. (more...)
European Union to impose retaliatory tariffs on U.S. imports European Union to impose retaliatory tariffs on U.S. imports
- June 06, 2018

Brussels had earlier indicated it would introduce rebalancing tariffs on about €2.8 billion ($3.4 billion) worth of USA steel, agricultural and other products including bourbon, peanut butter, cranberries and orange juice. On Thursday, Washington announced it would impose a 25-percent steel tariff and a 10-percent aluminum tariff on the European Union, Canada, and Mexico, effective from June 1. (more...)
After Kairana debacle, Modi government announces sops for sugar industry After Kairana debacle, Modi government announces sops for sugar industry
- June 06, 2018

These measures - which were announced at a press conference held in New Delhi - include funding worth Rs 1,175 crore to help warehouses store 30 lakh tonnes of buffer stock, the fixing of a minimum price (Rs 39 per kilogram of sugar), and a soft loan of Rs 4,500 crore to promote ethanol production (to be refunded in five years' time). (more...)
Northern rail services totally unacceptable, says Downing Street Northern rail services totally unacceptable, says Downing Street
- June 06, 2018

We say to Prime Minister Theresa May: if, as he did last week, your Minister refuses to acknowledge his failings and refuses to accept responsibility for the interminable disruption for which he - whether he likes it or not - is ultimately responsible, then you must. (more...)
RBI hikes key rate, keeps stance 'neutral' RBI hikes key rate, keeps stance 'neutral'
- June 06, 2018

India's benchmark 10-year sovereign bond yields rose to their highest in two weeks to 7.90 percent on Monday on expectations the central bank will have to raise interest rates to keep inflation in check. This is also the first interest rate hike in a four-and-a-half years, since the Bhartiya Janata Party (BJP)-led National Democratic Alliance (NDA) government came to power in May 2014. (more...)
Alia Bhatt Challenges Varun Dhawan and Other Celebs to Beat Plastic Pollution Alia Bhatt Challenges Varun Dhawan and Other Celebs to Beat Plastic Pollution
- June 06, 2018

Shouldn't you be responsible for the waste you generate? We must beat plastics, for our survival and for the survival of other species. "She took to her Twitter account to share a picture of herself with a steel bottle and wrote alongside, "#BeatPlasticPollution by switching to steel or glass bottles today! "Our health, water, soil, seas, nothing is spared". (more...)

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