Money


Crude Oil Futures Rebound, Settle Sharply Higher Crude Oil Futures Rebound, Settle Sharply Higher
- June 14, 2019

With supply ample despite the OPEC-led cuts, much will depend on demand. Front-month Brent crude futures, the worldwide benchmark for oil prices, were at $60.50 at 0108 GMT. If the risk of recession recedes, prices will rise again, but for the moment traders are sending a signal to Saudi Arabia and USA shale producers on the need to curb output growth in the face of a likely economic slowdown. (more...)
Corn hits one-week high as USDA cuts yield more than expected Corn hits one-week high as USDA cuts yield more than expected
- June 13, 2019

The expected production was cut in a monthly report released Tuesday by 1.4 billion bushels to 13.7 billion bushels, the lowest since 2015. Analysts had been expected a milder decline to 172.4 bushels. CDT (1715 GMT). Wheat lost 0.8% to $5.03-1/2 a bushel and soybeans were down 0.5% at $8.54-1/4 a bushel, having firmed 0.3% on Monday. Corn futures slipped after Thursday's surprise rebound on poor export sales. (more...)
Visa launches blockchain platform for corporate payments Visa launches blockchain platform for corporate payments
- June 13, 2019

Experts see this as a push from Visa to move beyond retail payment processing and enter the global corporate payment remittance market, as reported by Reuters on June 11, 2019. The network was built in partnership with Bottomline , FIS and IBM , Visa said. Visa's B2B Connect platform can also support and work alongside legacy systems, meaning banks don't have to completely abandon older systems during the transition. (more...)
Ford recalls 1.3 million Explorers, F-150s for safety issues Ford recalls 1.3 million Explorers, F-150s for safety issues
- June 13, 2019

However, the company did mention that one customer reported hitting a curb when one of the toe links broke. The campaign affects approximately 1.2 million vehicles in the US. The software used to service the recall was incomplete and did not have the updates necessary to prevent a potential unintended downshift into first gear or the updates necessary to ensure illumination of the malfunction indicator, Ford said. (more...)
Uber Elevate plans to deliver Big Macs by drone this summer
- June 13, 2019

Uber and San Diego were granted the winning bid by the Federal Aviation Administration a year ago to test the new delivery service, according to the company. Separately, Uber unveiled its newest self-driving vehicle produced by Volvo Cars . Various sensors will allow Uber's self-driving system to safely operate and manoeuvre in urban areas, the company said. (more...)
Oil rises with financial markets, longer supply cuts expected Oil rises with financial markets, longer supply cuts expected
- June 13, 2019

While the talk of prolonged supply restraint is supporting prices, concern about slowing demand and economic growth has had a bigger impact on sentiment. "We are working to take preventative steps to avoid the scenario that was discussed", Falih said regarding the prospects of prices falling to $30 a barrel, in translated comments. (more...)
Fiat Chrysler teams up with Aurora on self-driving vehicles Fiat Chrysler teams up with Aurora on self-driving vehicles
- June 13, 2019

The partnership provides that FCA and Aurora will integrate the Aurora Driver into FCA commercial vehicle lines. Fiat Chrysler CEO Mike Manley hasn't stopped looking for partners the wake of the FCA-Renault falling apart. Fiat Chrysler is aligning with Aurora at a time when industry executives are acknowledging that it will probably take longer than previously believed to put autonomous vehicles on the road. (more...)
Facebook offers to pay if you'll let it study your online habits Facebook offers to pay if you'll let it study your online habits
- June 13, 2019

In that instance, the Facebook Research App was removed from Apple Inc.'s App Store for violating the phone maker's policies on data gathering. Obviously, with Facebook's patchy track record, you might have some questions before joining the " Study " program. (more...)
Apple Can Build the iPhone with Zero Chinese Participation Apple Can Build the iPhone with Zero Chinese Participation
- June 12, 2019

While it's not sure that whether it's to reduce the import duties in India or whether those phones would end up outside the country, India could be key player for Apple now. But Apple's iPhones and iPads are arguably the most important products manufactured by Foxconn in, you guessed it, China. Hon Hai Precision Industry Co., more commonly referred to as Foxconn, said on Tuesday (June 11) that it's capable of moving iPhone production completely outside of China should the US-China ... (more...)
Fiat and Renault could resuscitate merger plan Fiat and Renault could resuscitate merger plan
- June 12, 2019

The latest crisis erupted a week ago, when Renault's merger talks with Fiat fell apart after Nissan abstained two of its board votes for further negotiation, prompting the French state to pause discussions. But he said any merger would have to ensure the "durability" of Renault's alliance with Japanese automakers Nissan and Mitsubishi Motors, as well as preserve manufacturing jobs in France. (more...)
These Deepfakes of Famous People Are Testing Facebook's Policies These Deepfakes of Famous People Are Testing Facebook's Policies
- June 12, 2019

Instagram will not take down an ultra-realistic "deepfake video" posted Tuesday of Facebook's chief executive bragging about controlling billions of people's "stolen" personal data. The original video is a speech Zuckerberg gave about Russian election hacking on Facebook back in September 2017. It makes it appear as if Zuckerberg is giving out the statement , which in reality he isn't, and his voice is dubbed by an actor. (more...)
Musk sets sights on a record Tesla quarter Musk sets sights on a record Tesla quarter
- June 12, 2019

If not, it's going to be very close, but we've got a shot at a record quarter . Tesla's stock has plunged 35% this year, setting the name up for its worst annual performance since its 2010 initial public offering. Currently Tesla's Long Range Model S Sedan has the longest real world range of around 600km according to Australian publication, The Driven . Newly manufactured Tesla vehicles are shown parked in a large lot next to the airport in Burbank, California, U.S. (more...)
Kroger to sell CBD products in almost 1,000 stores Kroger to sell CBD products in almost 1,000 stores
- June 12, 2019

At least 100 Family Video stores throughout MI are already selling CBD products - a move that has increased traffic at local stores according to Erin Gardner, the store manager of the Family Video in Waterford Township. CBD-infused products will not be available at OH stores due to state regulations prohibiting the sale of hemp-derived CBD products. Details about specific locations, and a timeline for rollout have not been made available. (more...)
Uncertainty Over How Raytheon-United Deal Could Impact Jobs, Commutes Uncertainty Over How Raytheon-United Deal Could Impact Jobs, Commutes
- June 12, 2019

Echoing concerns that top Pentagon procurement officials have raised for years, the president said he is anxious that the deal would harm the military supply chain by giving government buyers fewer competitive options to turn to for individual weapons systems. (more...)
Will the Fed reverse course on rates? Will the Fed reverse course on rates?
- June 12, 2019

A note of caution is warranted, though, as the forthcoming data may not provide a clear enough direction for traders, and with the next Fed policy meeting a week away on June 18-19, some investors may choose to sit on the sidelines until then. (more...)
Salesforce to Acquire Tableau, for $15.7 Billion Salesforce to Acquire Tableau, for $15.7 Billion
- June 12, 2019

CRM global leader Salesforce (NYSE:CRM) is to acquire analytics platform provider Tableau Software ( NYSE: DATA ). It was co-founded by Marc Benioff , 54, its chairman and chief executive, in San Francisco in 1999. Where does the IBM/Red Hat deal fit in the context of global and United States software M&A - according to Mergermarket data. Industry observers noted that the deal announced on Monday (June 10) would allow Salesforce to compete against Microsoft (NASDAQ: MSFT) in the ... (more...)
South Korea, Britain agree to sign free trade deal ahead of Brexit South Korea, Britain agree to sign free trade deal ahead of Brexit
- June 12, 2019

It is created to prevent Britain falling on to default World Trade Organisation terms with South Korea in the event of a no-deal Brexit. Trade between the two countries was £14.6 billion ($18.6 billion, 16.4 billion euros) in 2018, and has risen by 12 per cent per year on average since the European Union signed a free trade deal with South Korea in 2011. (more...)
Uber takes its flying taxi ambitions to Australia Uber takes its flying taxi ambitions to Australia
- June 12, 2019

According to Susan Anderson , Regional General Manager for Uber in Australia , New Zealand and North Asia, Australian governments have adopted a "forward-looking approach to ridesharing and future transport technology" - making the ground-breaking trial possible. (more...)
Build-A-Bear’s ‘Pay Your Age’ day is back - with changes Build-A-Bear’s ‘Pay Your Age’ day is back - with changes
- June 12, 2019

If you want to enter for a chance to get a ticket and be entered in the grand prize raffle, you'll have to be a Bonus Club member , according to Build-A-Bear. Winners can use the offer during a certain redemption period, which will be written on the ticket, they added. This year, it's all going to change. (more...)
Facebook exec shares details of its Libra cryptocurrency Facebook exec shares details of its Libra cryptocurrency
- June 12, 2019

Long believes that Facebook's token will be a "Trojan horse" for Bitcoin , and "will greatly accelerate the pace of teaching people about cryptocurrencies". Name: BBC had earlier reported that the public-facing name would be Globalcoin but other posts do claim this to be false with sources like Reuters reporting that Facebook did register a company called Libra Networks in Switzerland for financial purposes. (more...)

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