Money


Timmins approved for cannabis store Timmins approved for cannabis store
- July 04, 2019

The remaining eight are set aside for First Nations communities, and will be distributed through a separate, first come, first served basis. Applicants for the August 20 lottery must meet pre-qualification requirements such as demonstrating they've secured an appropriate retail space and have access to $250,000 in cash or short-term investments. (more...)
Cloudflare suffers another major outage Cloudflare suffers another major outage
- July 04, 2019

As it happens, one of the downed websites was DownDetector , the go-to site millions of folks use to see if websites are having performance issues. There was no evidence of any attack. It said that it had received bad data from its providers as a outcome, which resulted in it misreporting prices. (more...)
Trump deals new pair for open Fed posts Trump deals new pair for open Fed posts
- July 03, 2019

The president recently renewed his criticism of the Fed - and its Chairman Jerome Powell - pressing policymakers to lower the benchmark federal funds rate. "I suspect that the administration has chosen Waller because his views on interest rates are similar to those of Bullard". Trump has named four people for the two remaining open seats on the board of governors. (more...)
Census Bureau Begins Printing Without Citizenship Question Census Bureau Begins Printing Without Citizenship Question
- July 03, 2019

The Constitution mandates regular censuses that count all residents of the country - not only citizens - in order to determine their representation in Congress. In the Supreme Court's decision , Chief Justice John Roberts joined the court's four more liberal members in saying the administration's current justification for the question "seems to have been contrived". (more...)
Huawei to Still Remain on US Blacklist Despite Trump's Reversal Huawei to Still Remain on US Blacklist Despite Trump's Reversal
- July 03, 2019

Mr Trump said last Saturday that the ban was unfair to American suppliers, who were upset that they could not sell parts and components to Huawei without USA government approval. Department of Commerce. This is a reference to regulations, including the licensing policy, applied to blacklisted companies. A presumption of denial implies strict review and most licenses reviewed under it are not approved. (more...)
Deutsche Bank to axe investment bankers in up to $5.6 billion revamp Deutsche Bank to axe investment bankers in up to $5.6 billion revamp
- July 03, 2019

Deutsche Bank Wealth Management is growing with a "big investment push" that includes plans to hire an additional 300 client-facing staff by 2021, Global Head Fabrizio Campelli told Reuters in an interview . Shareholders hope that the upcoming restructuring would turn around the bank's profitability after the stock price touched the record low at the beginning of June. (more...)
S&P 500 opens at record high on rising rate cut hopes S&P 500 opens at record high on rising rate cut hopes
- July 03, 2019

Trading volumes are expected to be thin due to shortened trading hours on Wednesday ahead of the July Fourth holiday. Markets will close early Wednesday. The S&P 500 is on pace to book three closing records in a row. "Providing strength to the markets "dovish" tone is the nomination of Christine Lagarde to take the reins of the European Central Bank later this year with many believing that she is willing to provide further market stimulus", said Dean Popplewell, Vice President of Market ... (more...)
California’s gas tax becomes highest in the U.S. California’s gas tax becomes highest in the U.S.
- July 03, 2019

Illinois' gas taxes vaulted to third-highest in the nation July 1, when the state motor fuel tax doubled to 38 cents, and could go higher yet. The City of Harrison will receive an additional $246,891 in state fiscal year 2020 and $249,014 in fiscal 2021. (more...)
Construction in the United Kingdom drops to 10-year lows Construction in the United Kingdom drops to 10-year lows
- July 03, 2019

Chartered Institute of Procurement and Supply (CIPS) group director Duncan Brock said: "Purchasing activity and new orders dropped like a stone in June as the United Kingdom construction sector experienced its worst month for a decade". The composite PMI fell to 50.8 in June from 51.7 in May. A figure above 50 indicates expansion, while a reading below that signals contraction. "With demand remaining weak, and businesses lacking the incentive to raise output, the PMI suggests that any ... (more...)
Tesla announces record electric vehicle production for Q2 Tesla announces record electric vehicle production for Q2
- July 03, 2019

Tesla representatives didn't respond when asked whether the company is sticking with its guidance. Of the total electric vehicles (EVs) delivered by Tesla in Q2, 77,550 were Model 3 luxury executive sedans; 8,200 were Model S liftback sedans; while 8,400 were Model X mid-size luxury SUVs. (more...)
Auto industry icon Lee Iacocca dies at 94 Auto industry icon Lee Iacocca dies at 94
- July 03, 2019

Lee Iacocca was born in Allentown, Pennsylvania and attended Princeton University. Upon his return, he realised that his forte was not engineering, but marketing. Ford and Chrysler did not immediately respond to HuffPost's request for comment. Mr Iacocca is also remembered for his appearances in Chrysler ads in the USA, pointing at viewers and telling them: "If you find a better auto, buy it!" Two decades later, he became a corporate folk hero when he resurrected Chrysler. (more...)
RBA cuts cash rate to 1 per cent — RATES SLASHED RBA cuts cash rate to 1 per cent — RATES SLASHED
- July 03, 2019

Are you anxious about the Australian economy falling into recession? "A strong, dynamic, competitive business sector generates jobs", Dr Lowe said on Tuesday. But ANZ is playing catch-up after delivering only 0.18 percentage points of last month's cut, when all the other banks passed it on in full. CBA was the second of the big four banks to drop its rates, saying it would reduce all standared variable rate home loans by between 0.19 per cent and 0.25 per cent. (more...)
Amazon to broadcast 'Twitch Sells Out' on Prime Day 15-16 July Amazon to broadcast 'Twitch Sells Out' on Prime Day 15-16 July
- July 03, 2019

In order to participate in all the deals that will be happening, you're going to need to be a member of Amazon's Prime subscription , which normally costs $119 per year. This free trial option is not a secret by any means and Amazon advertises its free trial heavily in its Prime Day promotions. Members can also access an exclusive barcode that will give them 30 per cent off select items across Whole Foods Market locations. (more...)
Christine Lagarde Nominated as President of European Central Bank Christine Lagarde Nominated as President of European Central Bank
- July 03, 2019

While her selection to replace Mario Draghi at the European Central Bank from November is far from certain, diplomatic sources suggest French President Emmanuel Macron has proposed her for the job and that German Chancellor Angela Merkel's response was "very positive". (more...)
New electric cars must be fitted with noise devices to protect pedestrians New electric cars must be fitted with noise devices to protect pedestrians
- July 03, 2019

Different manufacturers will be able to decide exactly what their AVAS will sound like, but the EU's legislation says that the sound should be similar to (and not louder than) a traditional combustion engine. The noise will be emitted at speeds below 12mph (19kph), so it's the sort of thing that will stop people walking out in front of your auto when you're trying to park and things like that. (more...)
European Union leaders strike deal to give two top jobs to women European Union leaders strike deal to give two top jobs to women
- July 03, 2019

Belgian Prime Minister Charles Michel was named as Tusk's replacement. Another big-name appointment is on the cards too, with International Monetary Fund chief Christine Lagarde to become President of the European Central Bank. Despite signs of progress since the talks began Sunday, the leaders remained divided over a Franco-German compromise on who will become the new chief of the European Commission, the bloc's executive arm. (more...)
Gold Prices Fall After Hitting Six-Year High Gold Prices Fall After Hitting Six-Year High
- July 02, 2019

Bullion hit a six-year high last week as top central banks including the U.S. Federal Reserve adopted a more dovish tone and tensions spiked between the U.S. President Donald Trump has appeared to soften his tone on Huawei by allowing U.S. firms to start selling technology to the Chinese telecommunications equipment giant as long as the sales do not involve equipment that threaten USA national security. (more...)
Despite bitcoin’s recent rally - no growth in crypto app downloads Despite bitcoin’s recent rally - no growth in crypto app downloads
- July 02, 2019

Meanwhile, the descending volume would align nicely with a pull-back to $9,500 level below the blue-line of 50-day moving average confirming the descending channel. Elsewhere, it was green across the crypto-board, with Bitcoin Cash ABC and Bitcoin Cash SV leading the way. On the slide, however, were Stellar's Lumen (-1.2%), Litecoin (-0.98%), and Binance Coin (-1.64%). (more...)
Kenya telecoms giant Bob Collymore dies of cancer at 61 Kenya telecoms giant Bob Collymore dies of cancer at 61
- July 02, 2019

He had taken the reins of the company since 2010 and had a successful run at the company. Safaricom had already been looking for a successor to Collymore but the process was complicated by demands from the Kenyan government, which owns 35% of the company, that the CEO be a Kenyan national. (more...)
U.S. Proposes More Tariffs on EU Goods U.S. Proposes More Tariffs on EU Goods
- July 02, 2019

The US and the European Union have been embroiled in tit-for-tat threats regarding tariffs on planes, tractors and food for well over a decade, but this has ramped up significantly under the nationalistic Trump administration. The potential tariffs are due to "EU subsidies on large civil aircraft", the statement said. A U.S. Trade Representative hearing about the aircraft subsidies dispute is scheduled for August 5 in Washington. (more...)

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