Money


Singapore, Paris, Hong Kong tie for world’s most expensive city Singapore, Paris, Hong Kong tie for world’s most expensive city
- March 20, 2019

Besides Singapore and Hong Kong , other Asian cities that's part of the top ten chart for this year are Japan and Seoul, placing fifth and seventh respectively. "However, European cities tend to have the highest costs in the household, personal care, recreation and entertainment categories-with Zurich and Geneva the most expensive in these categories-perhaps reflecting a greater premium on discretionary spending", it said. (more...)
SEC calls Musk's first amendment tweet defense 'ridiculous' SEC calls Musk's first amendment tweet defense 'ridiculous'
- March 19, 2019

Recent tweet topics have included "vehicle tax credits and pricing", "plans for expansion of charging stations internationally", "construction and production plans for a new Shanghai factory", "whether Tesla plans to phase out its Model S and Model X vehicles in the future", and others. (more...)
Deutsche Bank and Commerzbank go public on merger talks Deutsche Bank and Commerzbank go public on merger talks
- March 19, 2019

Some major shareholders have privately said they were against a merger, but the US investor Cerberus, a large investor in both banks, has favoured talks, a person familiar with the matter has told Reuters . Shares in Deutsche Bank were up 3.3 per cent at 0829 GMT while Commerzbank traded 4 per cent higher. Unions have warned that a merger could put up to 30,000 jobs at risk. (more...)
Four European cities among world's most expensive Four European cities among world's most expensive
- March 19, 2019

Caracas dethroned Damascus as the world's cheapest city amid a power struggle in Venezuela that plunged the country into a deepening crisis. Paris, Singapore and Hong Kong are joint leaders on the Economist Intelligence Unit's 2019 Worldwide Cost of Living Survey . (more...)
Fisker Reveals Unnamed $40000 Electric Crossover to Rival Tesla Model Y Fisker Reveals Unnamed $40000 Electric Crossover to Rival Tesla Model Y
- March 19, 2019

Fisker says this as-of-yet unnamed electric vehicle will feature approximately 300 miles of range on a full battery charge, which is expected to be 80 kilowatt-hours or greater in capacity. The company will begin accepting early deposits closer to the start of production. Interior design and materials will be modern, Fisker says, with a heads-up display to keep the driver's eyes on the road. (more...)
Qualcomm owes Apple around $1 billion in Rebate Payments, court ruling Qualcomm owes Apple around $1 billion in Rebate Payments, court ruling
- March 19, 2019

This case was preceded over by Judge Dana Sabraw and is part of an ongoing legal tussle between both parties. The victory of the alleged absolute inventor of the patents strengthens Qualcomm's reputation as an innovator for its mobile components and its credibility in assuming that its ideas have been transferred to devices the size of the iPhone. (more...)
A timeline of Reliance Communications versus Ericsson case A timeline of Reliance Communications versus Ericsson case
- March 18, 2019

Under the deal, Ericsson to manage services of wireline and wireless network for RCom covering more than 100,000 km of fiber and mobile infrastructure in 11 telecom circles, across North and West of India including Delhi and Mumbai . It could not be immediately ascertained from where the company raised the funds, or whether it was paid from Anil Ambani's personal accounts. Had he not paid Ericsson Ambani would have been held in contempt of court because it had been judged that he had the ... (more...)
Donald Trump fumes, 'disappointed' about shuttered GM Ohio plant Donald Trump fumes, 'disappointed' about shuttered GM Ohio plant
- March 18, 2019

Earlier on Sunday, the United Auto Workers, which has filed suit challenging GM's decision to end Cruze production at Lordstown, thanked the president "for fighting alongside the UAW against @GM". The plant produced Chevy Cruze vehicles. In December, they announced a new plant opening up in China. In the following month, Barra said in meetings with OH lawmakers that the future of the factory can turn on the outcome of labor talks. (more...)
11th-hour deal to save government outsourcing giant Interserve from collapse 11th-hour deal to save government outsourcing giant Interserve from collapse
- March 18, 2019

In a statement to the City it said: "In the absence of any viable alternative, it expects to implement an alternative deleveraging transaction, which is likely to involve the company making an application for administration and, if the order is granted, the immediate sale of the company's business and assets (i.e. (more...)
Powerball Jackpot Continues To Climb; $1M Winner Sold In New Jersey Powerball Jackpot Continues To Climb; $1M Winner Sold In New Jersey
- March 18, 2019

The PowerBall Plus jackpot was estimated at R55 million. The jackpot was worth $492.1 million with a cash option of $299.7 million, slightly lower than the estimate of $495 million after final sales were tallied. It is the eighth largest Powerball jackpot since the game began in 1992 and the largest jackpot since tickets in Iowa and NY split a $687.8 jackpot just before Halloween. (more...)
Crypto short seller Mark Dow gloats over Cboe Bitcoin futures move Crypto short seller Mark Dow gloats over Cboe Bitcoin futures move
- March 18, 2019

According to the document, the now listed XBT futures contracts will remain listed until their expiry in June later this year. The decision comes amid when the exchange is experiencing a significant fall in volume compared to its rival Chicago Futures exchange CME . (more...)
Venezuelan continued oil fallout presents a challenge for global markets, says IEA Venezuelan continued oil fallout presents a challenge for global markets, says IEA
- March 17, 2019

Futures in NY traded near a four-month high, and on course for a 5% weekly advance. EIA expected these trends "to continue over the next several years". Brent crude hit a 2019 peak of $68.14 per barrel before falling to $67.47 by 1035 GMT, down 8 cents or 0.12 percent from Wednesday's close. It kept its forecast for growth in global oil demand this year unchanged at 1.24 million bpd. (more...)
Volkswagen boss Herbert Diess sorry for Nazi pun Volkswagen boss Herbert Diess sorry for Nazi pun
- March 17, 2019

Diess issued a statement calling his use of the phrase "definitely an unfortunate choice of words", according to the BBC . Speaking at a company event in Germany on Tuesday, Herbert Diess used the expression " Ebit macht frei " while talking about the automaker's profits. (more...)
Jaguar Land Rover recalls 44000 cars over Carbon dioxide emissions Jaguar Land Rover recalls 44000 cars over Carbon dioxide emissions
- March 17, 2019

The country's biggest auto manufacturer said the vehicles are emitting more of the greenhouse gas than expected. If you own one of the vehicles above and are not sure whether your auto is affected by this recall , contact your local Jaguar or Land Rover dealership. (more...)
China's Jan-Feb property investment accelerates despite cooling sales China's Jan-Feb property investment accelerates despite cooling sales
- March 17, 2019

China combines January and February activity data in an attempt to smooth distortions created by the long Lunar New Year holidays early each year, but some analysts say a clearer picture of the economy's health may not emerge until first-quarter data is released in April. (more...)
Softbank close to $1bn investment in Uber's driverless vehicle business Softbank close to $1bn investment in Uber's driverless vehicle business
- March 17, 2019

The investment would value the unit at somewhere between $5bn and $10bn. Uber, most recently valued at US$76 billion in the private market, is seeking a valuation as high as US$120 billion, although some analysts have pegged its value closer to US$100 billion based on selected financial figures it has disclosed. (more...)
Hammond says his Brexit fiscal war chest has grown Hammond says his Brexit fiscal war chest has grown
- March 16, 2019

The downgrade was included in an otherwise upbeat set of forecasts from the economic watchdog in yesterday's spring statement. Mr Hammond warned that Tuesday's Commons defeat for Theresa May's Brexit plan "leaves a cloud of uncertainty" hanging over the British economy. (more...)
National Pi Day: Meals and deals National Pi Day: Meals and deals
- March 16, 2019

We're talking pizza pies and baked pies which both owe their existence to circles! The Village Inn will offer $2 off any whole pie today in honor of Pi Day , but only in restaurants and at participating locations. Pieology: Buy one artisan thin crust pizza and get another one for $3.14. One per order and in-restaurant only. CPK will offer slices of Key Lime Pie for $3.14 (pre-tax) on Thursday. (more...)
Woman with cancer who sued J&J awarded $29M by California jury Woman with cancer who sued J&J awarded $29M by California jury
- March 16, 2019

The jury decided against awarding punitive damages, which are created to punish the defendants - in this case Johnson & Johnson and the other companies involved in making the talcum powder - for reckless or negligent behavior. The company has appealed against all of the plaintiff verdicts, and the company said it was confident the verdicts would be overturned on appeal. A company executive in the 1970s warned that J&J's talc mines might not be free of asbestos. (more...)
Spotify files complaint against Apple over 'unfair' App Store rules Spotify files complaint against Apple over 'unfair' App Store rules
- March 16, 2019

Spotify has filed an antitrust complaint against Apple , complaining to the European Commission about the " Apple tax" and unfair behaviors by the Cupertino company. This includes the upgrades to Spotify's Premium service. A growing number of software companies, including Netflix and the developers behind the popular video game Fortnite , are aiming to bypass app stores altogether, or minimize Apple's involvement in payments. (more...)

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