Money


NY Couple Vanishes While on Vacation in the Caribbean NY Couple Vanishes While on Vacation in the Caribbean
- April 09, 2019

A man rests on a hammock as others chat on Manresa beach before the arrival of Tropical Storm Isaac in Santo Domingo, Dominican Republic, Friday, Aug. The auto has not yet been located. But she has not heard from him since he left New York, Lashay Turner told CNN. 'He's not going to run off on a hiatus and don't tell his family and his daughter. (more...)
Sports Direct and Newcastle United owner Mike Ashley in talks over Debenhams Sports Direct and Newcastle United owner Mike Ashley in talks over Debenhams
- April 09, 2019

Ashley, who also owns Premier League soccer club Newcastle United, made his fortune from building retailer Sports Direct into a dominant presence on Britain's shopping streets and online. It will effectively put the firm's creditors in control of what happens now. The company, which had 19 million customers and 2.9 billion pounds in sales previous year, has said it needs to refinance its balance sheet and restructure the business to make it more sustainable. (more...)
Debenhams put into administration with its lenders taking control of the company Debenhams put into administration with its lenders taking control of the company
- April 09, 2019

The Financial Conduct Authority has "temporarily" suspended shares in Debenhams at the request of the company, with an announcement over the future of the chain expected this morning. Ashley, who spent at least £150m on building up a near 30% stake in Debenhams, lost out after the company and its lenders rejected a last-ditch offer of a new £200m cash injection as it was dependent on him becoming chief executive. (more...)
Pinterest scales back IPO price in hopes to raise $1.5 billion Pinterest scales back IPO price in hopes to raise $1.5 billion
- April 09, 2019

Its larger rival, Uber, lost $1.8bn previous year and WeWork, the office rental company, lost $1.9bn. With an IPO valuation of $24 billion, much of the company's value is tied up in promises to deliver industry-transforming technology. Pinterest, which allows people to search for and "pin" images online that interest them, is the latest in a group of unprofitable technology businesses hoping to list on the public market. (more...)
Ghosn claims innocence in video, raps Nissan for 'conspiracy' Ghosn claims innocence in video, raps Nissan for 'conspiracy'
- April 09, 2019

Former Nissan Chairman Carlos Ghosn has claimed his innocence and accuses his former colleagues of "backstabbing" and conspiring, as he addressed the public for the first time since his initial arrest over financial misconduct previous year. (more...)
FCA plugs into Tesla to beat EU emissions regulations FCA plugs into Tesla to beat EU emissions regulations
- April 09, 2019

However, this is probably the first instance where two individual automakers have chose to group their fleets to avoid European Union emission fines in the region, along with a deal between Toyota and Mazda. Under EU rules, the average emissions of a firm's new vehicle fleet in 2021 must be 95g/km or less, down from the current 130g/km. This is from the previous target of 130 grams per kilometer. (more...)
Trump wants Fed to keep interest rate low Trump wants Fed to keep interest rate low
- April 09, 2019

He has often criticized interest rate hikes by the central bank in the past. Kudlow, in the first of two scheduled TV interviews for the day, didn't directly call for a change in Fed interest rate policy, as he and Trump have done recently.Even so, he said he's anxious that US monetary policy makers aren't taking into account weakness in the global economy, or the absence of inflation. (more...)
London introduces ultra low emission zone charge London introduces ultra low emission zone charge
- April 09, 2019

Charges apply at all times and are on top of the already existing congestion charge, which is £11.50 between 7am and 6pm on weekdays. Introduced by Mayor of London Sadiq Khan, it is hoped that the ULEZ can help improve air quality in the English capital. (more...)
UK Lords approve Brexit law forcing May to consult parliament on delay
- April 09, 2019

European Union leaders, worn out by the serpentine Brexit crisis, must decide on Wednesday whether to grant May, who has asked for a postponement until June 30, a further delay. Worries about a no-deal Brexit are especially acute in Ireland, the only European Union member state to share a land border with the U.K. Any customs checks or other obstacles along the now invisible frontier would hammer the Irish economy, and could undermine Northern Ireland's peace process. (more...)
European Union stands 'fully behind Ireland' in Brexit negotiations, says Barnier
- April 09, 2019

While May has asked for a further Brexit delay until June 30, European Union summit chair Donald Tusk plans to propose an extension of a year that can be shortened if Britain's parliament eventually approves the divorce deal struck with the European Union last November. (more...)
Britain Deletes Britain Deletes "European Union" From New Passports
- April 08, 2019

In response to a tweet from Barone, Catherine Sutherland said: "I don't understand how the Home Office can do this while still in the European Union though". "We're still in the EU - Why doesn't my new passport reflect that?" Mr Tusk has proposed a longer time frame, urging the 27 remaining European Union nations to offer the United Kingdom a flexible extension of up to a year to make sure the nation does not leave the bloc in a way that could undermine commerce. (more...)
Pay gap at Norwich's biggest employers revealed Pay gap at Norwich's biggest employers revealed
- April 08, 2019

The result of efforts to reduce the pay gap at KPMG would be "better observed over a number of years", the company said. Proportion of women in the organisation receiving a bonus payment: 0%. Companies that are taking positive action against their pay gaps, may still see their gap widen this year. The hope is that the gender pay gap Regulations can facilitate discussions and encourage changing attitudes. (more...)
Nissan Shareholders Meet To Decide Ousting Of Carlos Ghosn Nissan Shareholders Meet To Decide Ousting Of Carlos Ghosn
- April 08, 2019

Shareholders will vote on the removal of Ghosn , once hailed as the Japanese auto giant's saviour, and his replacement by Renault chairman Jean-Dominique Senard. Prosecutors believe Ghosn moved Nissan funds totalling $15 million between late 2015 and the middle of 2018 and used $5 million of that for his own ends. (more...)
Oil navigates growth worries, but on course for weekly gain Oil navigates growth worries, but on course for weekly gain
- April 08, 2019

Also helping oil shake early weakness was the solid March jobs report for the United States showing 196,000 new jobs were created last month and a slowing in the annual rate of wage growth to 3.2% from 3.4%. The Chinese have also echoed the optimism, with President Xi Jinping touting substantial progress, according to the Chinese state news agency Xinhua. (more...)
BMW, Daimler and VW found guilty of emissions collusion BMW, Daimler and VW found guilty of emissions collusion
- April 08, 2019

In " statements of objections " sent to the companies, the Commission said it believes the companies did in fact violate antitrust rules when they colluded during technical meetings that took place between 2006 and 2014. The case comes after Volkswagen admitted four year ago to using software in diesel auto engines to cheat on US emissions tests. According to the Commission, BMW, Daimler and VW coordinated to avoid, or at least to delay, the introduction of these technologies and to remove ... (more...)
States move to legalize CBD to end confusion over US rules States move to legalize CBD to end confusion over US rules
- April 07, 2019

FDA Commissioner Scott Gottlieb told Congress last week which authorities has been restricted to sellers who make health claims. Sarugaser says the hearings are a positive for the industry and, moreover, that the development will likely bring larger consumer packaged goods companies closer to moving into the cannabis space. (more...)
German industrial production rises on construction gains German industrial production rises on construction gains
- April 07, 2019

Leading economic institutes slashed their forecasts for 2019 growth on Thursday and warned a long-term upswing had come to an end. Looking in more detail at Friday's output measure, nearly all of the production increase was down to construction firms, which added 6.8 percent amid unusually mild weather, while industry fell 0.2 percent. (more...)
Brent nears $70 on global supply Brent nears $70 on global supply
- April 07, 2019

Brent futures settled at $69.31 a barrel, losing 6 cents. Brent fell 6 cents on Wednesday, after touching $69.96, highest since November 12, when it last traded above $70. Data released by the Energy Information Administration on Wednesday showed that crude inventory in the USA rose 7.24 million barrels in the week ended March 29, against expectations of a drop of over 0.4 million barrels. (more...)
Ford's Hybrid Pony Car Could Be Called the Mustang Mach-E Ford's Hybrid Pony Car Could Be Called the Mustang Mach-E
- April 07, 2019

The popularity of pony cars is largely due to the launch of the Ford Mustang in 1964. Most of the next-gen Mustang's extra length is expected to be carried over to the wheelbase of the muscle auto which could mean that Ford could deal with less strict emission norms for the next pony vehicle. (more...)
United States stocks advance after solid March jobs report United States stocks advance after solid March jobs report
- April 07, 2019

Stocks across the world also got a lift from President Donald Trump's comments on Thursday that Beijing and Washington were close to a trade deal that could be announced within four weeks. Boeing stock gained 2.8 per cent around midday. Among individual stocks, Tesla Motors advanced 2.7 per cent, winning back some of Thursday's 8.2 per cent drop following weak first-quarter auto deliveries. (more...)

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