Money


Putin Says Russia Prepared to Drop START Treaty Putin Says Russia Prepared to Drop START Treaty
- June 07, 2019

Speaking to heads of global news agencies at an economic forum in the city of St. Petersburg, Putin said Washington showed no genuine interest in conducting talks on extending the New START treaty, which caps the number of nuclear warheads well below Cold War limits. (more...)
Google to buy data analytics firm Looker for $2.6 bln Google to buy data analytics firm Looker for $2.6 bln
- June 07, 2019

Looker will help Google provide customers with a consistent way to define business metrics across data resources, Google said. This marks his first major transaction as chief executive of the cloud unit; it's the biggest purchase Google has made since it purchased Nest Labs - a developer of connected thermostats and smoke detectors - in 2014. (more...)
1700 jobs cut in Wales as Ford factory closure confirmed 1700 jobs cut in Wales as Ford factory closure confirmed
- June 07, 2019

The company wants to focus mainly on its commercial van and pickup truck businesses on the continent, where Ford made a pretax loss of $398 million past year. Ford makes around 1.3 million engines at two British locations, Bridgend and Dagenham in eastern England. A spokeswoman for Ford declined to comment on what she said was speculation, after the expected closure was also reported by United Kingdom media. (more...)
Merger Of Automakers Fiat Chrysler And Renault Called Off Merger Of Automakers Fiat Chrysler And Renault Called Off
- June 07, 2019

The French carmaker made the announcement after a six-hour board meeting outside Paris - the day after a similar meeting was also inconclusive. The official, who spoke on condition of anonymity in line with government policy, told The Associated Press the conditions outlined by France's finance minister still "need to be met". (more...)
United States holds out for more from Mexico in talks over tariffs, border United States holds out for more from Mexico in talks over tariffs, border
- June 06, 2019

Trump, speaking to reporters in Ireland Wednesday, said he thinks Mexican officials "want to make a deal" and said he would know more after the meeting. "We are going to continue talks this afternoon". We're not done yet. With Trump on a trip to Europe until Friday night, a quick agreement in the U.S. (more...)
Neil Woodford seeks to reassure investors after fund suspension Neil Woodford seeks to reassure investors after fund suspension
- June 06, 2019

Ryan Hughes, head of active portfolios at investment platform AJ Bell, said: "The news that the Woodford Equity Income Fund has suspended dealing will come as a shock to many people but it shows the sheer scale of redemptions the fund has been suffering in recent months". (more...)
Explained: Why RBI has cut lending rates for the third consecutive time Explained: Why RBI has cut lending rates for the third consecutive time
- June 06, 2019

Last week, government data showed GDP growth slowed to a five-year low of 5.8 per cent in the fourth quarter (Q4) of FY19. "The headline inflation trajectory remains below the target mandated to the MPC even after taking into account the expected transmission of the past two policy rate cuts ", said the MPC led by RBI Governor Shaktikanta Das , adding that there is accordingly there is scope for the MPC to accommodate growth concerns by supporting efforts to boost aggregate demand, and ... (more...)
Fiat Chrysler withdraws 50/50 merger proposal with Renault
- June 06, 2019

French finance minister Bruno Le Maire said on Thursday the government had engaged constructively, but had not been prepared to back a deal without the endorsement of Renault's current alliance partner Nissan. The French government wanted job and investment assurances, a seat on the merged entity's board, and for the operational headquarters of the merged company to be in France. (more...)
Ikea to launch robotic furniture designed for small spaces Ikea to launch robotic furniture designed for small spaces
- June 06, 2019

Ikea has already made efforts to accommodate the small spaces many urban millennials live in. Ori's collection includes a "pocket closet", an expanding wardrobe that can be tucked away at the push of a button, and the soon-to-be-released cloud bed, which robotically rises to integrate seamlessly into the ceiling, revealing a lounge setup beneath. (more...)
BMW, Jaguar Land Rover to co-develop electric drive units BMW, Jaguar Land Rover to co-develop electric drive units
- June 06, 2019

The BMW Group is leading the global premium market with the largest portfolio of electrified vehicles and the biggest market share among traditional luxury rivals. The production of these co-developed EDUs will be carried out by each partner at their respective manufacturing plants. The I-PACE was named Auto Express Car of the Year for 2018, but it needs to be better if it has pretensions of being world class. (more...)
Walmart is going after high school students in war for talent Walmart is going after high school students in war for talent
- June 06, 2019

The nation's largest private employer is expanding its platform of education benefits, which it consolidated under the " Live Better U " banner in March 2019. "We know that the cost of college remains a significant barrier for many high school students, and also leads to student loans and costly debt", Julie Murphy, an executive vice president at Walmart, told Yahoo Finance. (more...)
YouTube Highlights Video Policies Meant to Protect Minors YouTube Highlights Video Policies Meant to Protect Minors
- June 06, 2019

YouTube is taking additional steps to restrict the possibility that children will be targeted by predators on the video platform - including banning young kids from live-streaming with adult supervision. New technology the company implemented is helping keep comments sections safe, too - YouTube says its new classifier has helped remove twice the number of violative comments. (more...)
Reserve Bank looks to jolt alleged Reserve Bank looks to jolt alleged "strong economy" with rate cut
- June 06, 2019

SYDNEY, June 4 ― Australia's central bank lowered the cost of borrowing for the first time in three years today, hoping to extend a record 28-year-run without a recession amid stiffening headwinds. Forecasts were for the figure to rise 0.2% so that's what market experts call a big miss on the downside. National accounts data - a measure of the strength of the economy - to be released on Wednesday is expected to show growth remained soft in the March quarter. (more...)
Michelin and GM test airless tires on Chevy Bolt EV
- June 06, 2019

The airless tires would enable a vehicle to go without either, saving all-important weight. The Uptis prototype requires fewer raw materials, less energy, and releases a smaller amount of emissions to produce which ultimately supports the GM global vision for "a world with zero crashes, zero emissions and zero congestion". (more...)
Renault’s Board Weighs Fiat Deal Despite Nissan’s Foot-Dragging Renault’s Board Weighs Fiat Deal Despite Nissan’s Foot-Dragging
- June 06, 2019

The board, who had been expected to rubber-stamp the opening of talks, instead said that it would reconvene today. Its board would comprise 11 members: four each for FCA and Renault, one for Nissan and the rest independent. "The more our hands are tied the harder it is to achieve meaningful synergies". The FCA-Renault talks are playing out amid a French public outcry over 1,044 layoffs at a General Electric site in Belfort, eastern France - where the USA group had promised to safeguard ... (more...)
Fed's hint at rate cut boosts global markets Fed's hint at rate cut boosts global markets
- June 06, 2019

On the flip side, the 1.1210-1.1200 region (50-day SMA) now becomes immediate support to defend, which if broken might turn the pair vulnerable to slide back towards testing the 1.1135-30 intermediate support before eventually falling to challenge the 1.1100 round figure mark. (more...)
Oil prices slide on USA inventory build, equity rally caps losses Oil prices slide on USA inventory build, equity rally caps losses
- June 06, 2019

According to the bank, the average annual stock growth rate since 2009 has been 12.5 percent but in the past 12 months, this has slumped to less than 1 percent mainly on the back of the U.S. Financial traders have been selling off energy markets on growing concerns about the outlook for the world economy amid the trade war between the United States and China and U.S. (more...)
German manufacturers trim staff as slump persists - PMI German manufacturers trim staff as slump persists - PMI
- June 06, 2019

The latest survey pointed to a modest reduction in new orders received by United Kingdom construction companies, with the rate of decline the steepest since March 2018. Detailed PMI data are only available under licence from Markit and customers need to apply to Markit for a licence. The firm has a market capitalization of $22.94 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 2.53 and a beta of 0.77. (more...)
Hope grows for deal to avoid U.S. tariffs on Mexican goods Hope grows for deal to avoid U.S. tariffs on Mexican goods
- June 05, 2019

Senate Majority Leader Mitch McConnell told reporters following a closed-door lunch with White House officials on Tuesday that there's "not much support" for tariffs within his party. The peso has fallen by around 2.5% against the US dollar since Trump's tariff threat last week. They've sent their top people to try and do it. Increasing numbers of Central American families andunaccompanied minors seeking asylum after fleeing criminal violence in their home countries have been turning ... (more...)
Amazon launches ‘Clicks and Mortar’ programme to help small businesses grow Amazon launches ‘Clicks and Mortar’ programme to help small businesses grow
- June 05, 2019

The first of the pop ups - which will be called Clicks and Mortar - will open in St Mary's Gate in central Manchester on Monday and will also offer Amazon Lockers for customers to collect Amazon orders. On that first point, giving emerging online-only brands with a physical presence on the UK high street, we are told that 100 such brands will gain showroom space at the Amazon UK Clicks and Mortar pop-up stores. (more...)

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