Money


Ford Super Duty Will Out-Tow The Competition Ford Super Duty Will Out-Tow The Competition
- September 29, 2019

Ford also revealed that the F-Series Super Duty Tremor off-road model can tow as much as 21,900 pounds with the diesel and has a maximum cargo capacity of 4,210 pounds when equipped with the new gasoline-powered 7.3-liter "Godzilla" V8, both figures besting those of the Ram Power Wagon, it's 4×4 rival. (more...)
Wells Fargo Names Banking Veteran Charles Scharf As President, CEO Wells Fargo Names Banking Veteran Charles Scharf As President, CEO
- September 29, 2019

Scharf, who joins the fourth-largest USA bank effective next month after a 2-year stint leading Bank of New York Mellon (N), will become Wells Fargo's third CEO in as many years. The bank acknowledged in 2017 that $80 million in unnecessary insurance charges had been added to 800,000 auto loans. The bank tabbed Scharf as a leader who's well-suited to guide Wells Fargo after the run of negative publicity. (more...)
British Airways-parent cuts profit forecast on strikes British Airways-parent cuts profit forecast on strikes
- September 29, 2019

Shares in Europe's third largest airline group tumbled after it said recurring operating profit will fall 215 million euros (190.8 million pounds) to 3.27 billion this year in the wake of a strike that grounded thousands of BA flights this month. (more...)
McDonald’s to test Beyond Meat patty McDonald’s to test Beyond Meat patty
- September 29, 2019

But now herbivores in parts of Canada will get to be the first to try McDonald's venture into the plant-based circle- and if it goes well there the plan is to roll the PLT out internationally. The plant-based burger will be available in the test market for 12 weeks. "During this test, we're excited to hear what customers love about the PLT to help our global markets better understand what's best for their customers", said Wahlgren. (more...)
Match.com Duped Subscribers, Exposed Them To Scammers, FTC Alleges 09/26/2019 Match.com Duped Subscribers, Exposed Them To Scammers, FTC Alleges 09/26/2019
- September 28, 2019

The stock has a 52-week high of $95.32 and a 52-week low of $33.30. The FTC also alleged that Match didn't adequately disclose the requirements that consumers needed to get Match's offer of free six-month subscription if they did not "meet someone special". (more...)
Census: US inequality grew, including in heartland states Census: US inequality grew, including in heartland states
- September 28, 2019

Economists measure income inequality using the Gini Index, which examines the distance between the country's top and bottom incomes. Income disparity is compounding over the USA indeed, even as the economy broadens the longest development in the nation's history. (more...)
U.S. Mulls Delisting Chinese Companies from American Exchanges, Report Says
- September 28, 2019

Declining issues outnumbered advancers for a 1.36-to-1 ratio on the NYSE and a 1.47-to-1 ratio on the Nasdaq . It was not immediately clear how any delisting would work. "It's all very disruptive, it just adds to uncertainty and its a big negative for business investment", said Scott Brown, chief economist at investment bank Raymond James. (more...)
Hypersonic ‘space plane’ promises four-hour London to Sydney flights by 2030s Hypersonic ‘space plane’ promises four-hour London to Sydney flights by 2030s
- September 28, 2019

The Concorde , which offered the last commercially-available supersonic flight, was scrapped after a flight between Paris and NY failed catastrophically during takeoff, killing 113 people. The hybrid engine allows a spaceplane to take off horizontally and reach speeds of Mac 5.4 - 6400 km/h for fast commercial travel, and also switch to rocket mode, allowing for space travel at Mach 25 (30,000 km/h). (more...)
Amid pressure from activist investors, eBay CEO Devin Wenig steps down Amid pressure from activist investors, eBay CEO Devin Wenig steps down
- September 27, 2019

Wenig was sacked after he failed to grow EBay's marketplace platform and clashed with the board about not wanting to sell the classifieds business, according to people familiar with the matter. The company, which has been searching for growth in light of steep online retail competition, said it plans to share the results from that review this fall. (more...)
Next-gen Toyota 86, Subaru BRZ confirmed as automakers expand partnership Next-gen Toyota 86, Subaru BRZ confirmed as automakers expand partnership
- September 27, 2019

The agreemeent will bring together "both companies' strengths to jointly develop all-wheel-drive models that offer the ultimate sensation in all-wheel driving", said the announcement, adding the two are "in pursuit of making ever-better cars beyond that achieved thus far by Toyota and Subaru". (more...)
German Prosecutors Charge Volkswagen Execs with Misleading Shareholders German Prosecutors Charge Volkswagen Execs with Misleading Shareholders
- September 27, 2019

German prosecutors dealt a blow to Volkswagen's efforts to put the 2015 emissions-cheating case behind it, charging the automaker's chief executive, chairman and former CEO with stock manipulation for not telling investors at the time that the scandal was about to break. (more...)
Airline offers a way for passengers to avoid seats next to babies Airline offers a way for passengers to avoid seats next to babies
- September 27, 2019

While it's no guarantee that a passenger will not hear a crying baby during a flight, Japan Airlines has been keen to stress, it at least allows passengers the option of giving them as wide a berth as possible while on board. There is nothing really stopping young children from then being booked into adjacent seats after a reservation has been made. The website says neutrally: "This lets other passengers know a child may be sitting there". (more...)
Version 10: Tesla’s biggest electric vehicle software upgrade has started rolling out Version 10: Tesla’s biggest electric vehicle software upgrade has started rolling out
- September 27, 2019

Tesla customers in China will soon get iQiyi and Tencent Video access in the vehicle with more services promised in the future. If you'd rather play games, Cuphead is making its way to Tesla Arcade at long last . Additionally, Tesla points out that Smart Summon is only intended for use in private parking lots or driveways, and owners are still responsible to maintain a line of sight with the vehicle in case it fails to detect certain obstacles. (more...)
GM reverses course, says strikers will keep health coverage GM reverses course, says strikers will keep health coverage
- September 27, 2019

The automaker said in an emailed letter to the United Auto Workers dated Wednesday that employee health and well-being are GM's top priorities. On Wednesday, lead union negotiator Terry Dittes told members that "all unsettled proposals are now at the Main Table and have been presented to General Motors, and we are awaiting their response". (more...)
FM Sitharaman calls meeting with private banks, NBFCs 'tonic-like' FM Sitharaman calls meeting with private banks, NBFCs 'tonic-like'
- September 27, 2019

Sitharaman said numerous microfinance institutions, which attended the meeting, work in deep interiors of the country and they have said demand for loans in rural areas remains strong. Concerned over poor transmission of interest rates by banks, the RBI had earlier this month mandated that all banks will have to link retail loans with an external benchmark, such as the repo rate . (more...)
'No guts!' Fed disappoints Trump with modest 25bps rate cut 'No guts!' Fed disappoints Trump with modest 25bps rate cut
- September 27, 2019

President Trump blasted the central bank's decision and its chairman, saying in a tweet, "Jay Powell and the Federal Reserve Fail Again". No 'guts, ' no sense, no vision! Federal Reserve Chairman Jerome Powell holds a news conference following a two-day Federal Open Market Committee meeting in Washington, June 19, 2019. (more...)
Doordash data breach affected 4.9 million customers, drivers and merchants Doordash data breach affected 4.9 million customers, drivers and merchants
- September 27, 2019

The exposed data involves names, email addresses, delivery addresses, phone numbers and hashed passwords to user accounts. The breach comes as the unicorn has been readying a public stock offering and fighting lawsuits alleging its delivery workers have violently attacked customers and restaurant workers. (more...)
McDonald's takes a nibble of the plant-based burger McDonald's takes a nibble of the plant-based burger
- September 26, 2019

The burgers will be available in 100 Wegmans supermarkets in seven states, and two Fairway stores in New York's Manhattan - increasing the number of nationwide retailers that sell the Impossible Burger fivefold, according to a company press release . (more...)
This Police Department’s Tesla Ran Low On Power During A Pursuit This Police Department’s Tesla Ran Low On Power During A Pursuit
- September 26, 2019

Police driving a Tesla patrol vehicle in California had to abandon pursuit of a suspect when the electric auto ran out of charge. As for the suspect, California Highway Patrol later found the vehicle crashed into some bushes not far from where the chase was called off, with the driver nowhere to be seen. (more...)
Robust consumption to help maintain Indonesia's growth in 2019, 2020: ADB Robust consumption to help maintain Indonesia's growth in 2019, 2020: ADB
- September 26, 2019

Revising its economic outlook for Indonesia, ADB estimated that the country would see moderate growth of 5.1 percent and 5.2 percent in 2019 and 2020 respectively. Foreign direct investment is following a similar pattern. "Despite currency depreciation in real effective terms, merchandise exports declined by 2.2 percent, partly because low cotton production constrained textile exports", ADB said. (more...)

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