Money
Toy story: Asia's richest man buys Britain's Hamleys for $88 mn
- May 10, 2019
Asia's richest man Mukesh Ambani's company, Reliance Industries , will buy the iconic British toy-maker Hamleys for £67.96 million (around $88 million, or ₹620 crore) in an all-cash deal. Reliance, which owns the master franchise, operates 88 Hamleys stores across 29 Indian cities. "Over the last few years, we have built a very significant and profitable business in toy retailing under the Hamleys brand in India". (more...)
- May 10, 2019
Asia's richest man Mukesh Ambani's company, Reliance Industries , will buy the iconic British toy-maker Hamleys for £67.96 million (around $88 million, or ₹620 crore) in an all-cash deal. Reliance, which owns the master franchise, operates 88 Hamleys stores across 29 Indian cities. "Over the last few years, we have built a very significant and profitable business in toy retailing under the Hamleys brand in India". (more...)
Uber is expected to set its share price at $45
- May 10, 2019
Uber , the most high-profile United States listing since Facebook seven years ago, raised US$8.1 billion, pricing its IPO at US$45 per share, compared with an expected range of US$44-50 per share. Uber lost US$3.03 billion in 2018 from operations, and reported a net loss attributable to the company for the first quarter of 2019 of around US$1 billion on revenues of roughly US$3 billion. (more...)
- May 10, 2019
Uber , the most high-profile United States listing since Facebook seven years ago, raised US$8.1 billion, pricing its IPO at US$45 per share, compared with an expected range of US$44-50 per share. Uber lost US$3.03 billion in 2018 from operations, and reported a net loss attributable to the company for the first quarter of 2019 of around US$1 billion on revenues of roughly US$3 billion. (more...)
Ontario Welcomes New Investment at GM Oshawa
- May 10, 2019
General Motors Canada President Travis Hester said the transition plan will save 300 of 2,600 unionized jobs at the Oshawa plant. Hester made the announcement alongside Unifor national president Jerry Dias at a press conference this morning at 11 a.m. (more...)
- May 10, 2019
General Motors Canada President Travis Hester said the transition plan will save 300 of 2,600 unionized jobs at the Oshawa plant. Hester made the announcement alongside Unifor national president Jerry Dias at a press conference this morning at 11 a.m. (more...)
Beyond Meat's Valuation Is 'Absurd,' Says Stock's First Short
- May 10, 2019
The meatless patties have been selling in Germany since late last month and McDonald's is now studying its performance in the European market. Burger King first examined a meatless model of its signature Whopper burger in early April and introduced the final week that it's planning to roll the sandwich out throughout America. (more...)
- May 10, 2019
The meatless patties have been selling in Germany since late last month and McDonald's is now studying its performance in the European market. Burger King first examined a meatless model of its signature Whopper burger in early April and introduced the final week that it's planning to roll the sandwich out throughout America. (more...)
China vows to take 'necessary countermeasures' after USA tariff hike, stalling talks
- May 10, 2019
China yesterday appealed to the United States to meet it halfway to salvage a deal that could end their trade dispute, with its chief negotiator in Washington for two days of talks hoping to stave off U.S. ENERGY: Benchmark U.S. crude rose 44 cents to $62.14 a barrel in electronic trading on the New York Mercantile Exchange. A protracted trade dispute between the world's two largest economies would be damaging for global economic growth, and investors have this week pulled their money ... (more...)
- May 10, 2019
China yesterday appealed to the United States to meet it halfway to salvage a deal that could end their trade dispute, with its chief negotiator in Washington for two days of talks hoping to stave off U.S. ENERGY: Benchmark U.S. crude rose 44 cents to $62.14 a barrel in electronic trading on the New York Mercantile Exchange. A protracted trade dispute between the world's two largest economies would be damaging for global economic growth, and investors have this week pulled their money ... (more...)
Oil rallies on hopes for U.S.-China trade deal
- May 10, 2019
At 09:32 GMT, June WTI crude oil is trading $61.19, down $0.21 or -0.34% and July Brent crude oil is at $69.57, down $0.31 or -0.44%. "A failure of the trade talks could lead to slower growth for oil demand", said Andy Lipow, president of Lipow Oil Associates in Houston. (more...)
- May 10, 2019
At 09:32 GMT, June WTI crude oil is trading $61.19, down $0.21 or -0.34% and July Brent crude oil is at $69.57, down $0.31 or -0.44%. "A failure of the trade talks could lead to slower growth for oil demand", said Andy Lipow, president of Lipow Oil Associates in Houston. (more...)
New Zealand cuts rate to record low of 1.5 percent
- May 10, 2019
However, the Committee noted that annual inflation is now estimated to return to 2 percent in mid-2021, slightly later than the February projection of reaching in late 2020. "She notes that domestic data has confirmed the "economy is cooling but hardly freezing up". Otherwise, with the RBNZ not really aggressively cutting rates and with the outside chance of US-China trade talks turning out for the better, the kiwi may just find some relief from current levels as we look to close out the week. (more...)
- May 10, 2019
However, the Committee noted that annual inflation is now estimated to return to 2 percent in mid-2021, slightly later than the February projection of reaching in late 2020. "She notes that domestic data has confirmed the "economy is cooling but hardly freezing up". Otherwise, with the RBNZ not really aggressively cutting rates and with the outside chance of US-China trade talks turning out for the better, the kiwi may just find some relief from current levels as we look to close out the week. (more...)
Facebook co-founder Chris Hughes says it's time to break up Facebook
- May 10, 2019
For one, Hughes isn't an economist or politician-but someone who helped build Facebook and knows Mark Zuckerberg personally. He said Zuckerberg is meeting with government leaders this week to work on developing such rules. In an op-ed published Thursday in the New York Times , Chris Hughes , who helped form Facebook in a Harvard dorm, joined the growing chorus of lawmakers and advocates demanding the USA government rein in Facebook. (more...)
- May 10, 2019
For one, Hughes isn't an economist or politician-but someone who helped build Facebook and knows Mark Zuckerberg personally. He said Zuckerberg is meeting with government leaders this week to work on developing such rules. In an op-ed published Thursday in the New York Times , Chris Hughes , who helped form Facebook in a Harvard dorm, joined the growing chorus of lawmakers and advocates demanding the USA government rein in Facebook. (more...)
BHP to defend claim over 2015 Brazil dam failure
- May 10, 2019
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. Goodhead said: 'Driven by concern for declining revenues amidst the falling market price of iron ore, the company took risks, increased production and turned a blind eye to dangers that ultimately claimed lives and destroyed communities. (more...)
- May 10, 2019
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. Goodhead said: 'Driven by concern for declining revenues amidst the falling market price of iron ore, the company took risks, increased production and turned a blind eye to dangers that ultimately claimed lives and destroyed communities. (more...)
European Union lowers growth forecast on US-China friction
- May 10, 2019
However, the Brussels-based institution sounded optimistic about the second half of this year. "Risks to the fiscal outlook remain skewed to the downside, mainly reflecting uncertainty as regards the economic outlook and the sustainability of the current level of some sources of government revenue (notably corporate tax)", it said. (more...)
- May 10, 2019
However, the Brussels-based institution sounded optimistic about the second half of this year. "Risks to the fiscal outlook remain skewed to the downside, mainly reflecting uncertainty as regards the economic outlook and the sustainability of the current level of some sources of government revenue (notably corporate tax)", it said. (more...)
GM Cruise gets another $1.15B in funding
- May 09, 2019
GM spokesman Ray Wert wouldn't disclose different investors, but the GM statement said the deal includes funds and accounts advised by Baltimore-based T. "We're not speaking to the terms and conditions at this time", Wert said. The unit has received more than $7 billion in funding over the past year. Cruise is considered among the leaders in the race to deploy autonomous vehicles without human backup drivers. (more...)
- May 09, 2019
GM spokesman Ray Wert wouldn't disclose different investors, but the GM statement said the deal includes funds and accounts advised by Baltimore-based T. "We're not speaking to the terms and conditions at this time", Wert said. The unit has received more than $7 billion in funding over the past year. Cruise is considered among the leaders in the race to deploy autonomous vehicles without human backup drivers. (more...)
US lawmakers criticize potential Facebook settlement with FTC
- May 09, 2019
Zuckerberg is utilizing the Tuesday keynote speech to sum up his plan to turn Facebook and its associated services to the equivalent of digital living room where people can share things in more private ways than they now can on Facebook's primary social networking, now populated by more than 2.2 billion consumers. (more...)
- May 09, 2019
Zuckerberg is utilizing the Tuesday keynote speech to sum up his plan to turn Facebook and its associated services to the equivalent of digital living room where people can share things in more private ways than they now can on Facebook's primary social networking, now populated by more than 2.2 billion consumers. (more...)
Closer look at Volkswagen's ID.3 Golf-sized electric hatch
- May 09, 2019
We knew VW had a compact electric hatchback in the pipeline . In return, customers are offered a range of 330 kilometers (WLTP) thanks to a 48 kWh battery. Deliveries, meanwhile, will begin from mid-2020, VW says. A dedicated microsite was launched this week to take order for the new auto, though only the first edition vehicles that will come at a fairly hefty premium. (more...)
- May 09, 2019
We knew VW had a compact electric hatchback in the pipeline . In return, customers are offered a range of 330 kilometers (WLTP) thanks to a 48 kWh battery. Deliveries, meanwhile, will begin from mid-2020, VW says. A dedicated microsite was launched this week to take order for the new auto, though only the first edition vehicles that will come at a fairly hefty premium. (more...)
Intel’s upcoming 10nm Ice Lake processor to hit the market this June
- May 09, 2019
According to Intel, a new 10nm Ice Lake Core i7 quad-core chip will offer two times faster video encoding, twice the integrated graphics performance, thanks to its all-new Gen 11 architecture, as well as up to three times faster AI processing thanks to Intel's new DL Boost technology. (more...)
- May 09, 2019
According to Intel, a new 10nm Ice Lake Core i7 quad-core chip will offer two times faster video encoding, twice the integrated graphics performance, thanks to its all-new Gen 11 architecture, as well as up to three times faster AI processing thanks to Intel's new DL Boost technology. (more...)
Warren Buffett hits out at 'dishonest' private equity
- May 09, 2019
Berkshire also said it repurchased $1.7 billion of its stock in the quarter, reflecting Buffett's troubles to find better uses for the Omaha , Nebraska-based conglomerate's cash hoard, which now totals $114.2 billion. Its insurance and utility businesses typically account for more than half of the company's net income. The company was created from the 2015 merger of Kraft Foods and H.J. (more...)
- May 09, 2019
Berkshire also said it repurchased $1.7 billion of its stock in the quarter, reflecting Buffett's troubles to find better uses for the Omaha , Nebraska-based conglomerate's cash hoard, which now totals $114.2 billion. Its insurance and utility businesses typically account for more than half of the company's net income. The company was created from the 2015 merger of Kraft Foods and H.J. (more...)
RBA needs to cut interest rates for wages to rise, says economist
- May 09, 2019
The outlook for GDP growth, the labor market and inflation seemed more softer than estimated by the bank, as the underlying inflation would remain below its 2-3 percent target range, the analyst opined. Other interesting AUD exchange rates include AUD/GBP , which opened on Sunday night at its lowest level in almost 3 years, at £0.53. In terms of employment conditions, Lowe said the labour market remains strong. (more...)
- May 09, 2019
The outlook for GDP growth, the labor market and inflation seemed more softer than estimated by the bank, as the underlying inflation would remain below its 2-3 percent target range, the analyst opined. Other interesting AUD exchange rates include AUD/GBP , which opened on Sunday night at its lowest level in almost 3 years, at £0.53. In terms of employment conditions, Lowe said the labour market remains strong. (more...)
Workhorse To Buy GM's Lordstown Factory To Build Electric Pickup?
- May 09, 2019
When GM announced the plant-closure, it said it would find other jobs for most of its 1,600 workers, though many were at other factories and would require relocation. GM later confirmed that it is still in talks about a possible sale of the Warren, Ohio-based plant. The financial report indicates Workhorse had $2.8 million on hand as of March 30. (more...)
- May 09, 2019
When GM announced the plant-closure, it said it would find other jobs for most of its 1,600 workers, though many were at other factories and would require relocation. GM later confirmed that it is still in talks about a possible sale of the Warren, Ohio-based plant. The financial report indicates Workhorse had $2.8 million on hand as of March 30. (more...)
U.S. farmers, industry urge Trump to resolve China trade dispute quickly
- May 09, 2019
David Madden, a market analyst at CMC Markets, said that Europe's equity markets would be "largely mixed" while the trade war was "hanging over the markets". Trump imposed the 10 percent tariffs on Chinese goods in September and an increase set for January was postponed to allow negotiations to continue. (more...)
- May 09, 2019
David Madden, a market analyst at CMC Markets, said that Europe's equity markets would be "largely mixed" while the trade war was "hanging over the markets". Trump imposed the 10 percent tariffs on Chinese goods in September and an increase set for January was postponed to allow negotiations to continue. (more...)
Trump within legal rights to pile up massive tax losses: Judge Napolitano
- May 09, 2019
Donald Trump has acknowledged taking large tax write offs for property business losses in the 1980s and 1990s, describing the practice as "sport" among developers like himself at the time . From 1986 through 1988, while his core businesses languished under increasingly unsupportable debt, Mr. Trump made millions of dollars in the stock market by suggesting that he was about to take over companies. (more...)
- May 09, 2019
Donald Trump has acknowledged taking large tax write offs for property business losses in the 1980s and 1990s, describing the practice as "sport" among developers like himself at the time . From 1986 through 1988, while his core businesses languished under increasingly unsupportable debt, Mr. Trump made millions of dollars in the stock market by suggesting that he was about to take over companies. (more...)
Apple's First iPhone Game Since 2008 Is about… Warren Buffett?
- May 08, 2019
This is because of Mr. Buffett's apprehension toward investing in technology companies. The company hopes to be valued at between $80.5 billion and $91.5 billion. "We will buy the same stocks today that we were buying last week", he said. For what's worth, Warren Buffett's Berkshire Hathaway is the second largest shareholder of Apple. (more...)
- May 08, 2019
This is because of Mr. Buffett's apprehension toward investing in technology companies. The company hopes to be valued at between $80.5 billion and $91.5 billion. "We will buy the same stocks today that we were buying last week", he said. For what's worth, Warren Buffett's Berkshire Hathaway is the second largest shareholder of Apple. (more...)
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