Money


Compensation CBO Gives Mixed Verdict on $15 Minimum Wage Compensation CBO Gives Mixed Verdict on $15 Minimum Wage
- July 10, 2019

The report, coming ahead of an expected House vote on the Raise the Wage Act , found that a $15 minimum wage would also reduce output and business income - a cost that would be passed on to consumers in the form of higher prices - for a cumulative $9 billion hit to median family income. (more...)
Tropical storm expected to develop in the Gulf of Mexico Tropical storm expected to develop in the Gulf of Mexico
- July 10, 2019

It's then expected to hit the Gulf Coast as a hurricane on Saturday, the National Hurricane Center said. Highs in the upper 80s to low 90s inland, mid to upper 80s along the beaches. Motiva's Port Arthur, Texas, refinery was one of four refineries in east Texas inundated by more than 5 feet (1.52 m) of rain in a single day during 2017's Hurricane Harvey. (more...)
Facebook will not be launching Calibra in India Facebook will not be launching Calibra in India
- July 10, 2019

The reason behind this is the strict rules and regulations issued by the country for the cryptocurrency. The Supreme court might challenge the RBI order; however, the case can be in limbo pending, requiring some direction from the Government. (more...)
Ford re-recalls Focus to prevent fuel tank damage Ford re-recalls Focus to prevent fuel tank damage
- July 10, 2019

According to the new information released by the company, the vehicles included in the new recall did not receive the software calibration that detects a malfunctioning canister purge valve. The former carries build dates between October 7, 2010 and July 23, 2012, while the latter has a build-date range from May 3, 2012 to December 11, 2014. (more...)
European growth is less than inflation European growth is less than inflation
- July 10, 2019

The worrying signals continue to come from the inflation forecasts , especially as Europe is at risk of sliding into a Japanese scenario of low inflation and low growth. Moscovici noted that the growth seen during the first quarter of this year was "vigorous", but was based on temporary factors, including the good sales of new vehicles, stockpiling in the United Kingdom ahead of the original Brexit date (29 March), and the mild winter that was favourable for the construction sector. (more...)
Gatwick airport halts all flights due to control tower problem Gatwick airport halts all flights due to control tower problem
- July 10, 2019

The hub, mostly used by low-priced carriers, is the United Kindom's second busiest, and Europe's eighth busiest airport by passenger traffic. "Flights have resumed, but passengers are advised to check the status of their flight with their airline before travelling to the airport as we return to full operations". (more...)
Fed Chair Powell says he would not quit if Trump asked Fed Chair Powell says he would not quit if Trump asked
- July 10, 2019

Federal Reserve Chairman Jerome Powell once again said he would not resign if President Trump asked him to do so. Mr Powell, in written testimony ahead of his appearance at the House of Representatives Financial Services Committee, said he expected continued USA growth. (more...)
Bank of Canada head expected to hold interest rates steady Bank of Canada head expected to hold interest rates steady
- July 10, 2019

The central bank revised its forecast to an annual rate of 2.3 per cent from 1.3 per cent in April. They painted a picture of an improving Canadian economy, but one whose path back to full capacity is being slowed by escalating trade conflict. (more...)
Passenger Films Moment Delta Plane’s Engine Malfunctioned Passenger Films Moment Delta Plane’s Engine Malfunctioned
- July 10, 2019

In a video posted to Twitter by user Logan Webb, one of Delta Flight 1425's engines can be seen with what appears to be its spinner completely detached and rattling around in the inlet, all while an extremely ominous orange glow emanates from deeper within from the still-spinning shaft. (more...)
IBM and Red Hat seal the deal IBM and Red Hat seal the deal
- July 10, 2019

Red Hat CEO Jim Whitehurst and the wider leadership team "are all staying with us for a good long time", Rometty said. With the deal now done, questions about how IBM will handle Red Hat's enterprise application software portfolio and direction moving forward can now be officially answered. (more...)
Oil Prices Rise After API Reports Very Large Crude Draw Oil Prices Rise After API Reports Very Large Crude Draw
- July 10, 2019

Even the increase in Saudi Arabia supply did not offset losses in Iran and Venezuela due to USA sanctions and other outages elsewhere in the group, a Reuters survey showed. After several weeks of consecutive declines, the net build is just 13.56 million barrels for the 28-week reporting period so far this year, using API data. (more...)
Amazon's Alexa to offer NHS healthcare advice Amazon's Alexa to offer NHS healthcare advice
- July 10, 2019

The NHS database will be available to Echo users via voice queries, such as, "how do I treat a cold?" Originally announced previous year, the partnership isn't expected to stop at Alexa , with talks already underway with other companies, including Microsoft. (more...)
Cisco to acquire Acacia Communications for Dollars 2.6 billion Cisco to acquire Acacia Communications for Dollars 2.6 billion
- July 10, 2019

David Goeckeler, EVP/GM of Cisco's networking and security business outlined the rationale for the takeover as follows: " Optical interconnect technologies are becoming increasingly strategic with the explosion of bandwidth in the multi-cloud era". (more...)
China's June PPI unchanged from year earlier; CPI up 2.7% y/y China's June PPI unchanged from year earlier; CPI up 2.7% y/y
- July 10, 2019

The reading is the latest indication that the long-running trade war with Washington is denting the factory sector, with figures earlier this month showing activity was contracting as demand for China's goods slows. "With pig stocks still tumbling we think increases in consumer prices will start to accelerate again before long", economists with research firm Capital Economics said in a note . (more...)
Facebook Says It Won't Launch Crypto in India Due to Regulatory Issues Facebook Says It Won't Launch Crypto in India Due to Regulatory Issues
- July 10, 2019

Wang confimed that the PBoC had been working with market institutions on developing its central bank digital currency, according to the report. Also, Libra will be backed by several fiat currencies with the USA dollar at the core. "If so, it would bring a series of economic, financial and even global political consequences". What do think about China's proposed digital currency? And with Facebook having stated that one of the goals of Libra is to enhance access to financial ... (more...)
Asian markets cautious as everything rides on dovish Powell Asian markets cautious as everything rides on dovish Powell
- July 10, 2019

Japan's benchmark Nikkei 225 edged down almost 0.2% in morning trading to 21,529.38. In China, the Shanghai Composite was 0.2% lower and the blue-chip CSI300 was off 0.3%, while Hong Kong's Hang Seng fell 0.7%. "Whether the negotiators can find a solution to the hard structural issues that remain between the two sides is another matter, and Kudlow cautioned there was "no timeline" to reach an agreement", National Australia Bank strategist Rodrigo Catril said. (more...)
Greece’s Cabinet sworn in following election win for conservatives Greece’s Cabinet sworn in following election win for conservatives
- July 10, 2019

Greece ended its third consecutive global bailout last summer - programs that rescued the country's euro membership and staved off bankruptcy but also deepened poverty and unemployment as successive governments in Athens were forced to make spending cuts in return for the rescue loans. (more...)
Mini's first all-electric Cooper debuts, arrival date in North America uncertain Mini's first all-electric Cooper debuts, arrival date in North America uncertain
- July 10, 2019

The Mini Cooper SE loses range here and, according to the WLTP standard, can travel between 235 and 270 kilometres depending on the equipment. It'll sport an electric motor with 135 kW (181 HP) and 270 Nm. Owners can plug the auto into a standard household outlet, but that'd be a very slow charging option. Both AC and DC charging methods are supported by the Cooper SE , meaning it is capable of 50kW fast charging which replenishes 80 per cent of the battery in 35 minutes. (more...)
British Airways Faces Record Fine For Data Breach British Airways Faces Record Fine For Data Breach
- July 10, 2019

Class-action lawsuits started piling on hours after Marriott announced its security breach . British Airways chairman Alex Cruz said today the airline was "disappointed" by the initial finding - despite initial warnings the fine could be up to £500million. (more...)
Future electric Jaguar XJ confirmed as current model ends production Future electric Jaguar XJ confirmed as current model ends production
- July 10, 2019

More specific details on the next-gen XJ haven't been confirmed, but Jaguar says it will carry through traditional characteristics from past generations, showcasing a handsome design, intelligent performance and revered luxury. The launch of the new factory for the Assembly of batteries in British Hams Hall with a design capacity of 150 000 units are planned for 2020. Whilst Jaguar Land Rover has not announced when it will exactly launch this new version of the luxurious vehicle, the company ... (more...)

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