Money


Relaxation in norms for start-ups to unshackle angel investing: industry Relaxation in norms for start-ups to unshackle angel investing: industry
- February 22, 2019

The Indian government has announced a new definition for startups to handle the angel tax issue. "By raising the period for eligibility of startups up to a period of 10 years from the date of incorporation or registration in place of the earlier duration of seven years, the government has signalled its intention to promote startups and angel investment in the country", CII Director General Chandrajit Banerjee said. (more...)
Trump officials meet with Chinese Vice Premier to talk trade agreement Trump officials meet with Chinese Vice Premier to talk trade agreement
- February 22, 2019

The world's two largest economies have slapped tit-for-tat tariffs on hundreds of billions of dollars of goods, slowing global economic growth, skewing supply chains and disrupting manufacturing. So far, the United States have applied tariffs on $250billion worth of Chinese goods. China's party-owned Global Times late Tuesday warned raising USA tariffs would amount to "a catastrophic strike" on global stock markets, which have been buffeted for months by the uncertainty and the prospects for ... (more...)
Pro-pipeline protest convoy approaches Ottawa after rolling across country Pro-pipeline protest convoy approaches Ottawa after rolling across country
- February 22, 2019

After four days of cross-country driving, the convoy mustered in Arnprior, Ont., just outside the capital but got off to a late start Tuesday morning. Carritt said participants also are unhappy about the government's recently signing a non-binding United Nations compact on global migration. Another convoy was originally created by a group that called itself Canada Action, which cancelled the plan and refunded thousands of dollars in donations after that effort became associated with ... (more...)
Consumer Reports pulls recommendation for the Tesla Model 3 Consumer Reports pulls recommendation for the Tesla Model 3
- February 22, 2019

The magazine recommends seven of Subaru Corp.'s eight vehicles sold in the US, including the new Ascent sport utility vehicle. Some of these automakers have sought to address this by issuing technical service bulletins and software updates. (more...)
Alberta Expects $1.7 Billion Profit From Crude-by-Rail Alberta Expects $1.7 Billion Profit From Crude-by-Rail
- February 22, 2019

Premier Rachel Notley speaks on Friday, Jan. 25, 2019. Initial estimates in November 2018 called for 7,000 rail cars, but the province decided only 4,400 would be required after finding more efficient rail routes to move the oil. "The cars we will be using will be the safest cars on the tracks". On Tuesday, Notley announced a plan that will see Alberta lease about 4,400 rail cars to get more oil to foreign markets, including refiners on the U.S. (more...)
Britain does not support total Huawei network ban Britain does not support total Huawei network ban
- February 22, 2019

Xu. Vodafone, the world's second-largest mobile operator, said last month it was "pausing" deployment of Huawei equipment in core networks until Western governments give full security clearance. The officials added that a cybersecurity investigation into the company's wireless hardware showed that no data could be stolen off of them, as the U.S. (more...)
'Confirmed drone sighting' leads to Dublin Airport flight diversions and delays 'Confirmed drone sighting' leads to Dublin Airport flight diversions and delays
- February 21, 2019

Citing "safety reasons", it said that flight operations were suspended "in line with agreed protocols for confirmed drone sightings". The Times reports it is suspected a current or former airport employee was behind the drone which brought Gatwick to a standstill three days before Christmas . (more...)
Why did Southwest Airlines declare a maintenance 'operational emergency'? Why did Southwest Airlines declare a maintenance 'operational emergency'?
- February 20, 2019

Friday the airline issued an "all hands" demand to its maintenance crews that implied unexcused absences could result in termination. Southwest says an uptick of out-of-service aircraft experiencing maintenance issues partly caused 80 cancellations nationwide Monday. (more...)
Walmart shares surge after posting best holiday quarter in years Walmart shares surge after posting best holiday quarter in years
- February 20, 2019

The gambit worked, as toys helped fuel the sales beat, Chief Financial Officer Brett Biggs said in a Tuesday morning interview. Walmart's results settled nerves, but some doubts remain. The company reiterated its 2019 guidance provided in October. Walmart chief executive officer Doug McMillon said it was disappointing that the Indian government had changed norms for foreign direct investment (FDI) in ecommerce without consultation and hoped for a more collaborative process going forward. (more...)
Supreme Court holds Anil Ambani companies guilty of contempt Supreme Court holds Anil Ambani companies guilty of contempt
- February 20, 2019

The apex court also directed Reliance Telecom and Reliance Infratel to pay Rs 1 crore each in four weeks to the apex court's registry or the chairman will have to go additional jail term of one month. Ericsson had filed the case against Anil Ambani in 2018 for not clearing its dues of Rs 550 crore. The shares have now fallen 86 per cent in the past three years, including a drop by more than a third after it filed for insolvency. (more...)
Did someone in Offaly win the €175m Euromillions jackpot? Did someone in Offaly win the €175m Euromillions jackpot?
- February 20, 2019

To date, there have been more than a dozen Irish winners of the EuroMillions jackpot. There is increasing speculation that the winning ticket is owned by a family syndicate in east Meath - but nothing has been confirmed just yet. Aside from the pressure of keeping the ticket and maybe their identity safe, the victor of this life changing amount could start dreaming of a few things they could buy. (more...)
Honda confirms that it's closing its only United Kingdom plant Honda confirms that it's closing its only United Kingdom plant
- February 20, 2019

Mr Clark accepted Honda's decision was "not about Brexit". The factory has operated at less than full capacity in recent years as demand in Europe slumped, prompting Honda to suspend a production line with a capacity of 100,000 units in 2014. (more...)
EU's Juncker, May to meet Wednesday amid fears of Brexit extension EU's Juncker, May to meet Wednesday amid fears of Brexit extension
- February 20, 2019

Britain's Prime Minister Theresa May makes a statement outside 10 Downing Street in central London after winning a confidence vote on 12 December 2018. This represents a direct rejection of May's core demand. The backstop has become the main point of contention in the proposed Brexit deal. "The prime minister believes that she can secure changes in relation to the backstop MPs want - there is a majority in parliament for a deal". (more...)
Apple, Google urged to remove app that lets Saudi men track wives Apple, Google urged to remove app that lets Saudi men track wives
- February 20, 2019

App users can also get SMS updates on when women travel, in close to real time . She said Google does not pre-monitor apps that appear on its Play Store and will review them if they are "flagged" as inappropriate. On Google Play, Absher has been downloaded more than a million times and has a rating of 4.6. Adam Coogle told the Post that the app, which is used by 11 million people, "discriminates against women". (more...)
All Tri-Cities Payless shoe stores now closing All Tri-Cities Payless shoe stores now closing
- February 19, 2019

It remerged from restructuring four months later with about 3,500 stores and eliminated more than $435 million in debt. The company's franchise operations and Latin American stores will not be affected, according to the statement. Retailers including Shopko, FullBeauty Brands, Charlotte Russe, Things Remembered and Gymboree have filed for bankruptcy this year. The company is shutting down all 21-hundred-stores in the USA and Puerto Rico. (more...)
Baby boy born on board FLL-bound JetBlue flight Baby boy born on board FLL-bound JetBlue flight
- February 19, 2019

As she leaves the plane, she cries: "Because I called someone old, I get kicked off a f**king plane". She is also heard saying, "I'm not getting off this flight". Another passenger reportedly claimed Gonzalez had sat next to her and hit her on the arm when she refused to switch seats. Gonzalez has since been arrested and charged with battery. (more...)
Honda plans to close Swindon plant with 3,400 jobs at risk Honda plans to close Swindon plant with 3,400 jobs at risk
- February 19, 2019

Such a move would put 3,500 on-site jobs "at risk", plus thousands more in the factory's nationwide supply chain. Honda had no immediate comment on its plans. Honda is expected to increase production in its home country of Japan to compensate for the Swindon closure. More updates as we get them. Martin Lane, Managing Editor of money.co.uk told Express.co.uk: "It's distressing news for Honda employees and their families, especially as Honda's leaving staff in limbo over their fate ... (more...)
Auto industry lines up against possible United States tariffs Auto industry lines up against possible United States tariffs
- February 19, 2019

The U.S. Commerce Department said it has delivered its report on whether auto imports endanger U.S. national security. German Chancellor Angela Merkel has labeled as "frightening" the prospect that this report could label European auto imports as a national security threat to the United States, enabling the tariffs. (more...)
China accuses US of trying to block its tech development China accuses US of trying to block its tech development
- February 19, 2019

A foreign ministry spokesman said Monday that Beijing would not use its companies to gather information about foreign companies. British security officials do not support a full ban of Huawei from national telecoms networks despite USA allegations the Chinese firm and its products could be used by Beijing for spying, people with knowledge of the matter said. (more...)
International Olympic Committee signs $1.5 billion deal to buy USA crude oil International Olympic Committee signs $1.5 billion deal to buy USA crude oil
- February 18, 2019

West Texas Intermediate for March delivery rose as much as 74 cents to $56.33 a barrel on the New York Mercantile Exchange and traded 35 cents higher at 9:20 a.m. President's Day holiday. Brent for April settlement was at $66.31 a barrel, up 6 cents, on the London-based ICE Futures Europe exchange, after gaining 6.7 percent last week. (more...)

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