Money


China blasts U.S. 'bullying' with Huawei CFO extradition bid China blasts U.S. 'bullying' with Huawei CFO extradition bid
- January 23, 2019

The deadline for filing an extradition request is January 30 and Meng is due to appear in court in Vancouver on February 6. Once a formal request is received, a Canadian court must determine within 30 days if there is sufficient evidence to support extradition, and Canada's Minister of Justice must give a formal order. (more...)
Liverpool Travelodge reception destroyed by digger driver in ’30 minute’ rampage Liverpool Travelodge reception destroyed by digger driver in ’30 minute’ rampage
- January 23, 2019

The BBC contacted MF Construction for comment , but without success. One worker suggested that the rampage was the result of a pay dispute over £600. Police were called to the scene but the digger driver had already left the vehicle and ran from the area, towards Edge Lane. Video of the incident , which took place Monday afternoon, shows the man use an excavator to ascend a small set of steps before clawing his way into the building and leaving a path of destruction. (more...)
Former Nissan CEO Carlos Ghosn offers Nissan stock as bail collateral Former Nissan CEO Carlos Ghosn offers Nissan stock as bail collateral
- January 23, 2019

The French state, as a shareholder, will have its say. A Renault spokesman declined to comment. Further, he is also accused of using Nissan as a cover for his personal financial losses. However, Renault has a 43-percent stake in Nissan and voting rights. He reiterated that France wanted "solid and stable" governance at the helm of the company. (more...)
Eurozone economy slowdown 'will be made WORSE by no-deal European Union exit' Eurozone economy slowdown 'will be made WORSE by no-deal European Union exit'
- January 22, 2019

Trimming its previous prediction, the worldwide body anticipated the global economy to grow at 3 .5 percent in 2019 and 3.6 percent in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts. For 2020, growth projections were raised by 0.1% to 1.6% on the assumption that Britain will reach a Brexit deal this year and that the country will gradually transition a new regime. (more...)
Huawei not only firm that could build Canada’s eventual 5G networks: Goodale Huawei not only firm that could build Canada’s eventual 5G networks: Goodale
- January 22, 2019

At least three Canadian citizens in China have found themselves in legal trouble since Meng's detention was first reported. Guy Saint-Jacques, a former Canadian ambassador to China, signed the letter and noted it comes as Canada is working to rally worldwide support for the case. (more...)
China Claims Economy ‘Resilient’ Despite Lowest Growth Since 1990 China Claims Economy ‘Resilient’ Despite Lowest Growth Since 1990
- January 22, 2019

China's population grew at a slower rate past year despite the abolition of the one-child policy, official data showed on Monday (Jan 21), raising fears an ageing society will pile further pressure on an already slowing economy. "The details show that the infrastructure investment is shaping up to be the engine for 2019". Slowing growth prompted Premier Li Keqiang last week to vow govt would not let the economy "fall off a cliff". (more...)
India to be global growth leader in 2019-20
- January 22, 2019

The International Monetary Fund has cut its forecast for world economic growth this year, citing heightened trade tensions and rising US interest rates. The IMF maintained its US growth projections of 2.5 percent this year and 1.8 percent in 2020, pointing to continued strength in domestic demand. An "escalation of trade tensions. (more...)
France fines Google $57 million for European privacy rule breach France fines Google $57 million for European privacy rule breach
- January 21, 2019

France's top data-privacy agency, known as the CNIL, said Monday that Google failed to fully disclose to users how their personal information is collected and what happens to it. The CNIL said Google made it too hard for users to understand and manage preferences on how their personal information is used, in particular with regards to targeted advertising. (more...)
China economy: Fourth quarter growth slips to 6.4% China economy: Fourth quarter growth slips to 6.4%
- January 21, 2019

Growth in the fourth quarter came in at 6.4 percent, down from 6.5 percent seen in the third quarter, the NBS said . China's rate of expansion has raised worries about the potential knock-on effect on the global economy . China's surveyed unemployment rate in urban areas stood at 4.9 percent in December, 0.1 percentage point lower than that in December of the previous year. (more...)
Tesla Cuts 7% Of Full-Time Jobs To Keep A Lid On Costs Tesla Cuts 7% Of Full-Time Jobs To Keep A Lid On Costs
- January 21, 2019

In the company email , Tesla CEO Elon Musk pointed out that the 7-percent cut comes after a 30-percent increase in jobs in 2018. While it succeeded in scaling up output of its Model 3 , the company missed analysts' production targets during the fourth quarter, and it's cut prices to partially make up for the halving of a US tax credit that's acted as a buyers' incentive. (more...)
Trump takes aim at Pelosi amid stalled shutdown negotiations Trump takes aim at Pelosi amid stalled shutdown negotiations
- January 20, 2019

Many Democrats, were quick to point out that Trump wasn't really offering anything substantial. "Trump on Saturday proposed granting temporary protections against deportation for many young immigrants and others fleeing violent or disaster-battered countries". (more...)
Ashton Whiteley - OPEC Cuts Support Oil Amid Global Economic Uncertainty Ashton Whiteley - OPEC Cuts Support Oil Amid Global Economic Uncertainty
- January 20, 2019

OPEC on Thursday said it cut oil output sharply in December before a new supply-limiting accord took effect, suggesting producers have made a strong start to averting a new glut. Despite troubling economic data from China which weighed on oil prices in the beginning of the week, improving fundamentals are beginning to push crude prices upward. (more...)
Stocks keep climbing as hopes for U.S.-China trade deal rise Stocks keep climbing as hopes for U.S.-China trade deal rise
- January 20, 2019

The offer demonstrates how much control China's government exercises over its economy. China's Vice Premier and lead negotiator Liu He is due to visit Washington for the next round of talks with Mr. The Trump Administration has imposed import tariffs on Chinese goods to put pressure on Beijing to meet a long list of demands that will rewrite the terms of trade between the 2 countries. (more...)
Mitsubishi alleges Carlos Ghosn received $8.9 million in illegal payments Mitsubishi alleges Carlos Ghosn received $8.9 million in illegal payments
- January 20, 2019

The 64-year-old was the architect of the Renault-Nissan alliance and brought Mitsubishi on board in 2016. Prosecutors have indicted him on charges of underreporting his salary and transferring personal losses to Nissan. Lawyers for Ghosn have since appealed the decision. Mr Ghosn's arrest at Tokyo's Haneda airport has jolted the world's biggest vehicle alliance, raising questions over whether their partnership will survive his downfall. (more...)
Microsoft Investing Half a Billion Dollars into Affordable Seattle-Area Housing Microsoft Investing Half a Billion Dollars into Affordable Seattle-Area Housing
- January 20, 2019

The Seattle area has long seen rocketing housing prices due to the demand from high-paid employees from Microsoft and Amazon, which are both headquartered in the area. "Ultimately, a healthy business needs to be part of a healthy community", they wrote. But even there, she said, new homes run at least $565,000 - far above the city's median of about $375,000. (more...)
Morgan Stanley 4Q profit, revenue hit by volatile markets Morgan Stanley 4Q profit, revenue hit by volatile markets
- January 19, 2019

USA stocks eked out gains on Thursday to consolidate near a one-month high, helped by advances in the healthcare and industrial sectors and as financials shrugged off Morgan Stanley's disappointing earnings. Analysts surveyed by Refinitiv had estimated adjusted earnings of 89 cents per share. The firm had revenue of $9.87 billion during the quarter, compared to analyst estimates of $9.55 billion. (more...)
Jack Bogle: The man who pioneered index investing Jack Bogle: The man who pioneered index investing
- January 19, 2019

After his firing following an unsuccessful merger, Bogle founded the Vanguard Company and, soon after, the First Index Investment Trust - the public's first index mutual fund . He then went on to found Vanguard, which today employs 40,000 people and manages more than $5 trillion in global assets. For all of 2018 Vanguard led the industry with $161 billion in net deposits, followed by $136 billion to BlackRock Inc's iShares line. (more...)
Pipeline explodes in central Mexico, killing at least 21 Pipeline explodes in central Mexico, killing at least 21
- January 19, 2019

The governor of Hidalgo state, Omar Fayad, said Saturday the death toll had risen to at least 66. It is considered to be a key fuel-theft region used by organized crime members to tap into fuel lines, law enforcement sources revealed to Breitbart News. (more...)
Lotus gears up for China factory under Geely Lotus gears up for China factory under Geely
- January 19, 2019

When news broke past year of Geely's plan to invest £1.5bn into its Norfolk outpost, we greeted it with the cautious optimism of a group of people who had already been led up the garden path a couple of times. Geely launched its premium brand Lynk & Co in 2017 to compete with volume global brands like Volkswagen and Ford, and sales exceeded 120,000 units in 2018, accounting for 8 percent of Geely's total sales. (more...)
Govt changes angel tax rules to address concerns Govt changes angel tax rules to address concerns
- January 19, 2019

Various startup founders have recently claimed of receiving notices under Section 56 (2) (viib) of the Income Tax Act from the I-T department to pay taxes on angel funds raised by them. The notification also mandates angel investors to have filed income tax returns of at least ₹50 lakh for the year preceding the investment year, a measure that seeks to ensure there is no money laundering via this route. (more...)

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