Money


WeWork hit with big loss despite revenue jump, say reports WeWork hit with big loss despite revenue jump, say reports
- November 15, 2019

WeWork's losses bigger than doubled to $1.3bn (£970m) within the third quarter of the yr, the co-working firm has published. Japanese conglomerate SoftBank Group will pump a total of $9.5 billion into WeWork and increase its stake in the firm from 29 percent to around 80 percent in an agreement announced last month. (more...)
Beijing lifts 4-year ban on United States poultry imports Beijing lifts 4-year ban on United States poultry imports
- November 15, 2019

Negotiators have hit several major roadblocks since the announcement of the unofficial agreement, which Trump said included unspecified commitments on issues at the center of the dispute that began in early 2018. President Donald Trump dismissed that a day later, jolting global financial markets. China has lifted a ban on United States poultry and poultry products that has been in place since the December 2014 avian flu outbreak, opening the door to a potential $1 billion worth of ... (more...)
All-New Ferrari Roma Revealed All-New Ferrari Roma Revealed
- November 15, 2019

Together with the SF90 Stradale , Ferrari's first production series plug-in hybrid launched earlier this year, it represents a new kind of offering. Details are scant, so you can take a good look at the picture and draw your own conclusions, but the simplicity of the outside is continued indoors. Lovely design is in the eye of the beholder. (more...)
Amazon to challenge Pentagon war cloud contract citing 'unmistakable bias' Amazon to challenge Pentagon war cloud contract citing 'unmistakable bias'
- November 15, 2019

Amazon was considered a favourite for the contract, part of a broader digital modernisation process of the Pentagon, before Microsoft emerged as the surprise victor. Oracle formally challenged the JEDI bidding process , arguing it was "riddled with improprieties" that largely favored Amazon - including undisclosed employment and bonus offers to Department of Defense officials - and that the Pentagon set unfair criteria. (more...)
Mustang-inspired electric Ford crossover to be called 'Mach-E' Mustang-inspired electric Ford crossover to be called 'Mach-E'
- November 15, 2019

It'll have a sloping roofline, in keeping with what we've seen of existing electric SUVs, while the rear end is home to tail-lights that could have been nicked directly from the 2019 Mustang coupe. So it happens that everyone knows the Mustang Mach E pricing, the number of versions and the specs in nearly all their entirety. The automaker will unveil a vehicle bearing the Mustang brand that's not a two-door auto. (more...)
Nike Ends Partnership With Amazon Nike Ends Partnership With Amazon
- November 15, 2019

All these things happen after the company hired the former eBay executive John Donahoe as its next new CEO. While consumers worry that other brands will follow in Nike's footsteps, Amazon is supposedly recruiting new third-party vendors to ensure the availability of Nike products, as reported by Bloomberg News . (more...)
Historic London-Sydney non-stop flight lands after 19 hrs Historic London-Sydney non-stop flight lands after 19 hrs
- November 15, 2019

Joyce said frequent flyers on both flights, which the airline hopes will be precursors to regular non-stop flights from eastern Australia to NY and London , had been extremely positive about the experience. Those on board were mostly Qantas employees fitted with monitors to track sleep patterns, food and drink intake, lighting and physical movement. Mark Sedgwick, the president of the Australian and International Pilots Association representing Qantas pilots, said more research would be ... (more...)
China's Central Bank Executive: 'Controllable Anonymity' with State's Digital Currency China's Central Bank Executive: 'Controllable Anonymity' with State's Digital Currency
- November 14, 2019

This was also reiterated by Mu Changchun, the head of the People's Bank of China's digital currency research institute when he added that freedom is essential, but so are ethical codes. Changchun noted that while it'll provide anonymity, it will be " controllable anonymity " as the financial institution will ensure it doesn't lead to anti-money laundering, terrorism-financing, online gambling , and other potential issues. (more...)
Electric vehicle maker Tesla to build factory near Berlin Electric vehicle maker Tesla to build factory near Berlin
- November 14, 2019

With Musk reportedly aiming to have his factory up and running in Germany in 2021, the electric race between the USA upstart and Germany's legacy carmakers is officially on. Schmidt said that while Tesla will benefit from lower-wages, Berlin's attractive reputation, and the " Made in Germany " halo, the Gigafactory could also mean a big, tangible benefit to German carmakers, helping them "bring down crucial EV costs with more centralised production resulting in an ever-expanding supplier ... (more...)
Fed likely to defy history with rates steady through elections Fed likely to defy history with rates steady through elections
- November 14, 2019

Explaining why wages haven't moved up with the unemployment rate at 3.6%, Powell said it could be a sign that there is still slack in the labor market. The US budget deficit - which Mr Powell called "unsustainable" - soared to just under US$1 trillion in the 2019 fiscal year, despite a growing economy and low interest rates. (more...)
Nike says bye to selling on Amazon Nike says bye to selling on Amazon
- November 14, 2019

The company still plans to use Amazon for other services, including partnering with Amazon Web Services "to power a suite of services on Nike.com and within Nike's ecosystem of apps". Nike, which generated $36 billion in revenue previous year, sells its products through a large, global network of retailers. This would help Nike exercise more control of its goods on the Amazon marketplace, and make it easier to identify and remove fake listings. (more...)
Skoda Octavia makes global debut Skoda Octavia makes global debut
- November 14, 2019

Skoda has completely overhauled the cabin of the new Octavia . The new range follows the eighth-generation Golf in bringing new technologies previously reserved for premium vehicles into the segment, and it also boasts a classy new design that is sure to be a hit with buyers. (more...)
Costco says $75 coupon is 'SCAM' Costco says $75 coupon is 'SCAM'
- November 14, 2019

The multinational company, which operates a chain of membership-only warehouses around the world, went on to thank their fans for alerting them to the "recurring hoax!" Costco shares legit deals on its website and doesn't accept any coupons that are not issued by Costco. (more...)
Tesla inches closer to Model 3 mass production at Shanghai Gigafactory
- November 14, 2019

So now Tesla's European factory will be built in the outskirts of Berlin, where it will be responsible for building batteries, trains, and vehicles . He said: "Cell production is highly automated". The Model 3 sedans were assembled in the company's Shanghai Gigafactory, of which construction began in January. (more...)
New Zealand central bank holds rates New Zealand central bank holds rates
- November 13, 2019

Interestingly, the RBNZ maintained that the low in the OCR is at 0.9% across the forecast horizon, which in turn has seen money markets place a 50% probability that the central bank will ease again in 2020. We will continue to monitor economic developments and remain prepared to act as required", RBNZ's monetary policy committee said in a statement accompanying the rates decision. (more...)
India`s October retail inflation rises to 4.62 per cent India`s October retail inflation rises to 4.62 per cent
- November 13, 2019

ONS figures show a 1.8 per cent rate of inflation for the third quarter, while average earnings without bonuses increased by 3.6 per cent over the period, suggesting that consumers may have more spending power given wages are rising quicker than the rate of inflation. (more...)
Hong Kong reportedly grants approval for Alibaba IPO Hong Kong reportedly grants approval for Alibaba IPO
- November 13, 2019

The deal would be a victory for both Alibaba and the exchange, though it comes with challenges amid ongoing violent pro-democracy protests in the city. Alibaba said in a regulatory filing that NY will continue to be its primary listing venue. China's CICC and Credit Suisse are leading the deal. The itemizing additionally will come proper after the town's change tweaked the rules to let double listings, when Chief Government Carrie Lam had additionally been pushing Alibaba's billionaire ... (more...)
Global stocks sink after Trump threatens more China tariffs Global stocks sink after Trump threatens more China tariffs
- November 13, 2019

Kennedy, as well as foreign leaders like former Soviet President Mikhail Gorbachev and Chinese Premier Li Keqiang, will be closely watched by investors anxious for any positive news about his administration's long-running trade war with China . (more...)
Saudi Aramco IPO prospectus projects oil demand to increase in 20 Years Saudi Aramco IPO prospectus projects oil demand to increase in 20 Years
- November 13, 2019

Amin H. Nasser, President and CCEO of Saudi Aramco, said: "Saudi Aramco's vision is to be the world's pre-eminent integrated energy and chemicals company". "Putting pressure on wealthy Saudi nationals to act as cornerstone investors to boost Aramco's valuation will only reinforce concerns about governance". (more...)
Got Chapter 11?: America's biggest milk producer files for bankruptcy Got Chapter 11?: America's biggest milk producer files for bankruptcy
- November 13, 2019

Quarts of Dairy Pure milk, made by Dean Foods, are pictured on a store shelf in Surfside, Florida, on Tuesday. It received about $850 million in debtor-in-possession financing from existing lenders to continue operations, including paying its employees, suppliers and vendors. (more...)

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