Money


Ford recalls more than 410K pickup trucks due to possible fire risk Ford recalls more than 410K pickup trucks due to possible fire risk
- December 22, 2018

The second-largest automaker in the US said the risk of fire happens when the block heater cable is plugged into an electrical outlet. The recall affects 2015 to 2019 model Ford-150 trucks and 2017 to 2019 model F-Super Duty vehicles, according to documents the company submitted to the National Highway Traffic Safety Administration. (more...)
Carlos Ghosn Detention Extension Rejected by Tokyo Court Carlos Ghosn Detention Extension Rejected by Tokyo Court
- December 22, 2018

Ghosn later reportedly took back the contract onto his personal books and received help from an unidentified person in submitting a statement backing up his credit to the bank on the other side of the contract, prosecutors said in a statement outlining their suspicions. (more...)
Fed defies Trump to hike key rate again Fed defies Trump to hike key rate again
- December 22, 2018

The central bank has raised rates with steady regularity as the US economy has strengthened. But an hour later, the Dow had given most of that up. Actual growth was 2.4 percent - the first in a series of forecast misses that showed just how poorly the country's top economic minds were at unravelling how the Great Recession changed the economy. (more...)
Juul Gets $12.8 Billion Investment From One of World’s Largest Tobacco Companies Juul Gets $12.8 Billion Investment From One of World’s Largest Tobacco Companies
- December 21, 2018

Altria, which only sells its cigarettes in the USA, would benefit from worldwide exposure as Juul expands to new markets outside the country. The planned investment by Altria would value Juul at $38 billion, more than double its last valuation of $16 billion, making it one of the largest start-up companies in the world, ahead of Airbnb, the room listings service. (more...)
Have taken up ‘angel tax’ issue of start-ups with FinMin: Suresh Prabhu Have taken up ‘angel tax’ issue of start-ups with FinMin: Suresh Prabhu
- December 21, 2018

In a meeting attended by revenue secretary Ajay Bhushan Pandey, Department of Industrial Policy and Promotion (DIPP) secretary Ramesh Abhishek and the chairman of the Central Board of Direct Taxes (CBDT) Sushil Chandra , the policymakers said that they will go slow on the I-T notices issued to startups regarding recovery of dues from investments made by angel investors. (more...)
US Federal Reserve Raises Interest Rates Against Trump's Wishes US Federal Reserve Raises Interest Rates Against Trump's Wishes
- December 21, 2018

The US Federal Reserve raised interest rates on December 19 and said it was keeping the core of its plan to tighten monetary policy intact even as central bank officials said they would likely slow the pace of further rate increases next year. (more...)
Japan court denies extended detention of Nissan's Ghosn Japan court denies extended detention of Nissan's Ghosn
- December 21, 2018

Tokyo prosecutors last week added a second allegation that they also under-reported another four billion yen ($36bn) in Ghosn's pay for the period 2016-2018, for which their first 10-day detention was to expire later on Thursday. The court decision could impact the investigation, said Shin Kukimoto, deputy chief prosecutor at the Tokyo District Public Prosecutors Office, declining to comment on whether his office would appeal to a higher court to annul the district court's order. (more...)
China: Google shuts down ‘censored’ search project China: Google shuts down ‘censored’ search project
- December 21, 2018

Google CEO Sundar Pichai has previously revealed that Dragonfly is one of the top priorities for the firm. The service provides Chinese visitors with news updates and information about financial markets , among other resources. Google have copped a lot of flack over their ambition to move their search product into China. Under company protocol, reviewing users search queries goes under a pretty tight review process, so that not just anyone can see what you have been searching. (more...)
Republican senators in disbelief over Trump shutdown threat Republican senators in disbelief over Trump shutdown threat
- December 20, 2018

Trump is facing a backlash from conservative supporters who've urging to him to stick with an earlier pledge to force a shutdown in hopes of securing money for his long-promised border wall. The president had little choice. McConnell told colleagues mid-Thursday afternoon that they should expect votes around noon on Friday if the House cobbles together votes for a spending bill . (more...)
Maker of Budweiser is partnering with medical cannabis company Tilray Maker of Budweiser is partnering with medical cannabis company Tilray
- December 20, 2018

A gradual increase in legalised recreational use of cannabis for adults in USA states and in medical cannabis around the world has sparked investment and partnership deals for Canadian companies. Each company will invest up to US$50 million in the partnership, which is limited to Canada. Kennedy says that Tilray's strategy is to partner with global companies, like AB InBev, that can help it eventually grow beyond Canada - one of the first countries to allow cannabis products for ... (more...)
Morocco: Terrorist with ties to Scandinavian hiker slaying arrested Morocco: Terrorist with ties to Scandinavian hiker slaying arrested
- December 20, 2018

Norwegian hiker Maren Ueland, 28, and Danish victim Louisa Vesterager Jespersen, 24, were discovered in their tent after being stabbed in the neck in Morocco's Atlas Mountains on Monday. The two women studied at a university in southern Norway and had planned to travel together for a month, Ueland's mother told Norwegian broadcaster NRK. (more...)
Triple-amputee vet crowdfunds for border wall Triple-amputee vet crowdfunds for border wall
- December 20, 2018

Maybe. But the House Freedom Caucus is still demanding immediate border wall funding, no matter how they get it. HFC Chairman Mark Meadows was releasing this statement just as the Senate was voting on the stopgap bill. But facing criticism from supporters, Trump continued to argue the wall would be built. A White House official could not point to any other proposal Trump might be more inclined to support. (more...)
Army Veteran Crowdfunds Millions To Build Trump's Wall Army Veteran Crowdfunds Millions To Build Trump's Wall
- December 20, 2018

That equates to roughly [$5 billion], even if we get half, that's half the wall. The GoFundMe page posted Sunday has 12,988 contributors. US Air Force veteran Brian Kolfage set up a GoFundMe campaign on Monday asking for supporters to pitch in to pay for the wall. (more...)
Elon Musk’s The Boring Company Unveils ‘Loop’ Test Tunnel Under LA Elon Musk’s The Boring Company Unveils ‘Loop’ Test Tunnel Under LA
- December 20, 2018

The Boring Company-backed test tunnel took shape beneath a neighborhood sandwiched between a municipal airport and Interstate 110 in Hawthrone, California, where several of Musk's companies are headquartered. However, the construction of this tunnel wasn't particularly fast, taking 18 months and costing $10 million to build. The modified wheels keep the cars on track even if the driver loses control, stopping them from hitting the sides. (more...)
Don't dictate to China Don't dictate to China
- December 20, 2018

Xi reaffirmed the ruling Communist Party's leadership in all aspects of society and said reforms should be in line with the overall goal of improving the socialist system with Chinese characteristics. The speech continued the measured, if defiant, tone Xi has struck amid a trade war with the US that has fueled concerns about China's slowing economy and battered capital markets. (more...)
Drones suspend flights at Gatwick Airport in UK Drones suspend flights at Gatwick Airport in UK
- December 20, 2018

All inbound and outbound flights at London's Gatwick airport have been suspended after drones were seen in its airspace, airport authorities have confirmed. More than two dozen arriving planes have been diverted, according to flight-tracking service Flightradar24. Kasia Jaworska told the BBC she had been travelling from Glasgow to Gatwick with her boyfriend when her flight was diverted to Luton. (more...)
Facebook Let Corporate Partners Read Users' Private Messages Facebook Let Corporate Partners Read Users' Private Messages
- December 20, 2018

The New York Times was one of the companies that had access to private user data from Facebook, a key point brushed over in a report released by the paper. However, we shouldn't have left the APIs in place after we shut down instant personalization. Facebook is up to its neck in scandals around the world as regulators wake up to the danger posed by a social networking monopoly acting unilaterally to enrich itself at the expense of users' privacy. (more...)
Third Canadian Reportedly Detained in China Third Canadian Reportedly Detained in China
- December 20, 2018

Former Canadian diplomats have said they believed the detentions were a "tit-for-tat" reprisal by China, however, no link has officially been made between the cases. "Canadians understand that even though political posturing might be satisfactory in the short term to make yourself. feel like you're stomping on a table and doing something significant, it may not directly contribute to the outcome we all want, which is for these Canadians to come home safely". (more...)
Markets Right Now: Another steep drop pulls Dow down 500 Markets Right Now: Another steep drop pulls Dow down 500
- December 19, 2018

Oil prices have dropped sharply as oil supplies increased and demand weakened as the global economy slows down. The broad S&P 500 index added 0.22 points to 2,546.16. The S&P 500 hit a 14-month low point with a 2.1% loss. The Nasdaq is down 126.75 points, or 1.8 percent. Aside from Boeing, several other stocks ended a string of losses. (more...)
Third Canadian arrested in China as Huawei diplomatic rows continue Third Canadian arrested in China as Huawei diplomatic rows continue
- December 19, 2018

China has not said whether Kovrig and Spavor were detained in retaliation for the arrest of Meng. Both Mr Kovrig and Mr Spavor are being investigated on suspicion of endangering China's state security, the Chinese government has said. In an op-ed in the Globe and Mail, Chinese ambassador Lu Shaye said Meng's arrest was a "miscarriage of justice", given that she wasn't charged under Canadian law. (more...)

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