Money
Japan's economy shrinks at fastest rate since 2014
- February 18, 2020
It fell by 2.9 percent following the increase in the tax from 8 percent to 10 percent at the beginning of October past year. "The concerns for the export focused economy is continued pressure amid the coronavirus ", said Jingyi Pan, market strategist at IG in Singapore of Japan's GDP. (more...)
- February 18, 2020
It fell by 2.9 percent following the increase in the tax from 8 percent to 10 percent at the beginning of October past year. "The concerns for the export focused economy is continued pressure amid the coronavirus ", said Jingyi Pan, market strategist at IG in Singapore of Japan's GDP. (more...)
HSBC seeks revamp with 35 000 staff cuts in CEO's 'endgame'
- February 18, 2020
The London-based lender is targeting cost reductions of $4.5bn at underperforming units in the USA and Europe. The move comes as HSBC plans to slash more than 100 billion USA dollars (£77 billion) from its risk-weighted assets. In the US, where returns have lagged the Asian operations for years, HSBC said it would cut the retail branch network by nearly one-third and move fixed-income trading to London, reducing operating costs by as much as 15%. (more...)
- February 18, 2020
The London-based lender is targeting cost reductions of $4.5bn at underperforming units in the USA and Europe. The move comes as HSBC plans to slash more than 100 billion USA dollars (£77 billion) from its risk-weighted assets. In the US, where returns have lagged the Asian operations for years, HSBC said it would cut the retail branch network by nearly one-third and move fixed-income trading to London, reducing operating costs by as much as 15%. (more...)
Cabinet reshuffle: Sajid Javid resigns as chancellor - BBC Newsnight
- February 18, 2020
It must hold a budget before the end of the tax year on 5 April. "The Prime Pinister wants this reshuffle to set the foundations for government now and in the future", sources in his Downing Street office said. Mr Sunak was Chief Secretary to the Treasury before taking over from Mr Javid. Mr Redwood said instead of tax rises the Government should be drawing up a list of targeted tax cuts, including stamp duty, to stimulate growth. (more...)
- February 18, 2020
It must hold a budget before the end of the tax year on 5 April. "The Prime Pinister wants this reshuffle to set the foundations for government now and in the future", sources in his Downing Street office said. Mr Sunak was Chief Secretary to the Treasury before taking over from Mr Javid. Mr Redwood said instead of tax rises the Government should be drawing up a list of targeted tax cuts, including stamp duty, to stimulate growth. (more...)
Bombardier in talks to sell train-making division to French multinational Alstom
- February 18, 2020
The French government, which had criticized the EU's veto on the Siemens merger, welcomed the transaction. The newspaper also said Quebec's pension fund manager, the Caisse de dépôt et placement, will sell its 32.5 per cent stake in Bombardier's train unit to Alstom and buy a minority stake in the combined train company. (more...)
- February 18, 2020
The French government, which had criticized the EU's veto on the Siemens merger, welcomed the transaction. The newspaper also said Quebec's pension fund manager, the Caisse de dépôt et placement, will sell its 32.5 per cent stake in Bombardier's train unit to Alstom and buy a minority stake in the combined train company. (more...)
VA. Democrats push to ban assault weapons fails Senate vote
- February 18, 2020
The bill would have banned AR-15s and other similar styles of rifles and banned being able to own magazines that hold more than 12 rounds. The bill's rejection is an embarrassing loss for Northam and Democrats in Virginia, who aimed to use their narrow and new-found majority to push a broad progressive gun control agenda in the state. (more...)
- February 18, 2020
The bill would have banned AR-15s and other similar styles of rifles and banned being able to own magazines that hold more than 12 rounds. The bill's rejection is an embarrassing loss for Northam and Democrats in Virginia, who aimed to use their narrow and new-found majority to push a broad progressive gun control agenda in the state. (more...)
Jeff Bezos pledges $10 billion to fight climate change
- February 17, 2020
Bezos, 56, has a net worth estimated at $130 billion, according to Forbes . The new Bezos Earth Fund will start distributing the money this summer, the multi-billionaire said in an Instagram post to his 1.4 million followers. Bezos is the only American among the world's five richest people who has not signed the Giving Pledge, in which participants promise to give away more than half of their wealth during their lifetimes or in their wills, Business Insider's Paige Leskin wrote . (more...)
- February 17, 2020
Bezos, 56, has a net worth estimated at $130 billion, according to Forbes . The new Bezos Earth Fund will start distributing the money this summer, the multi-billionaire said in an Instagram post to his 1.4 million followers. Bezos is the only American among the world's five richest people who has not signed the Giving Pledge, in which participants promise to give away more than half of their wealth during their lifetimes or in their wills, Business Insider's Paige Leskin wrote . (more...)
Tesla Berlin factory risks delay over environmental objections
- February 17, 2020
Shares of Tesla Inc. fell 4% in early trading Thursday, Feb. 13, after the electric vehicle and solar panel maker said it would sell more than $2 billion worth of additional shares. The dispute highlights the risks for the United States carmaker, which has not been officially granted permission to build the factory. Workers have already scoured the equivalent of about 150 soccer fields of forest and removed most of the errant World War II ammunition found there. (more...)
- February 17, 2020
Shares of Tesla Inc. fell 4% in early trading Thursday, Feb. 13, after the electric vehicle and solar panel maker said it would sell more than $2 billion worth of additional shares. The dispute highlights the risks for the United States carmaker, which has not been officially granted permission to build the factory. Workers have already scoured the equivalent of about 150 soccer fields of forest and removed most of the errant World War II ammunition found there. (more...)
Pier 1 Imports Files for Chapter 11 Bankruptcy, Now For Sale
- February 17, 2020
The move comes just weeks after Pier 1 announced it would close up to 450 of its over 900 locations. The Fort Worth, Texas-based retailer has been teetering on the brink of collapse for years as a slew of competitors from Target, Walmart, Wayfair and Bed Bath & Beyond siphoned customers away with lower prices and similar offerings. (more...)
- February 17, 2020
The move comes just weeks after Pier 1 announced it would close up to 450 of its over 900 locations. The Fort Worth, Texas-based retailer has been teetering on the brink of collapse for years as a slew of competitors from Target, Walmart, Wayfair and Bed Bath & Beyond siphoned customers away with lower prices and similar offerings. (more...)
United Kingdom fund manager confirms deal to buy Merian Global Investors
- February 17, 2020
Jupiter, a member of the FTSE 250, said the deal "significantly enhances" its United Kingdom investment capability, and widens the range of investment services available to clients. Jupiter will acquire the entire share capital of Merian for an upfront £370m to be paid through the issue of 95m new Jupiter shares to Merian shareholders. (more...)
- February 17, 2020
Jupiter, a member of the FTSE 250, said the deal "significantly enhances" its United Kingdom investment capability, and widens the range of investment services available to clients. Jupiter will acquire the entire share capital of Merian for an upfront £370m to be paid through the issue of 95m new Jupiter shares to Merian shareholders. (more...)
This guy took a bath in restaurant kitchen sink
- February 17, 2020
In the 23-second video, the individual is sitting in a sink filled with water and isn't wearing a shirt. The clip was initially shared on TikTok by a user @paulkash2 with the caption "Almost got fired for this shit". Today News reports that he, and other employees, were fired for the stunt. Human resources then released a statement that read "This egregious behavior is completely unacceptable and counter to our safety, training and operational standards. (more...)
- February 17, 2020
In the 23-second video, the individual is sitting in a sink filled with water and isn't wearing a shirt. The clip was initially shared on TikTok by a user @paulkash2 with the caption "Almost got fired for this shit". Today News reports that he, and other employees, were fired for the stunt. Human resources then released a statement that read "This egregious behavior is completely unacceptable and counter to our safety, training and operational standards. (more...)
United States stocks edge higher in midday, head for weekly gains
- February 17, 2020
Nonetheless, the major USA indices made substantial gains over the week as a whole, with the Dow up one percent, the Nasdaq growing 2.2 percent and the S&P 500 up 1.6 percent. Businesses have been hurting due to the outbreak and more of them are warning that the effects will linger through the year. Chipmaker Nvidia was a standout with a 6.6% jump after it handily beat analysts' profit forecasts for the fourth quarter. (more...)
- February 17, 2020
Nonetheless, the major USA indices made substantial gains over the week as a whole, with the Dow up one percent, the Nasdaq growing 2.2 percent and the S&P 500 up 1.6 percent. Businesses have been hurting due to the outbreak and more of them are warning that the effects will linger through the year. Chipmaker Nvidia was a standout with a 6.6% jump after it handily beat analysts' profit forecasts for the fourth quarter. (more...)
1,700 premises still without power after Storm Dennis
- February 17, 2020
Flooding in Longwood Lane, Walsall. In the Black Country, flood warnings were in place for the River Tame at Bescot, near the M6 in Walsall, the River Stour in Stourbridge and Kinver, Smestow Brook at Hinksford. Police said his death was not being treated as suspicious or being linked to the bad weather. And Gwent Police said residents of Skenfrith, Monmouthshire, were being advised to evacuate due to the flooding. (more...)
- February 17, 2020
Flooding in Longwood Lane, Walsall. In the Black Country, flood warnings were in place for the River Tame at Bescot, near the M6 in Walsall, the River Stour in Stourbridge and Kinver, Smestow Brook at Hinksford. Police said his death was not being treated as suspicious or being linked to the bad weather. And Gwent Police said residents of Skenfrith, Monmouthshire, were being advised to evacuate due to the flooding. (more...)
Axing of Holden another 'hammer blow' to 'narrative' of manufacturing in Australia
- February 17, 2020
The development is hardly surprising, given Holden ceased manufacturing in Australia three years ago. "I've often said that we will do the right thing, even when it's hard, and this is one of those times", said GM Chairman and CEO Mary Barra. (more...)
- February 17, 2020
The development is hardly surprising, given Holden ceased manufacturing in Australia three years ago. "I've often said that we will do the right thing, even when it's hard, and this is one of those times", said GM Chairman and CEO Mary Barra. (more...)
Delta Air Lines pledges to go fully "carbon neutral" from next month
- February 17, 2020
The company - the world's biggest airline - has previously made efforts to mitigate its carbon impact by purchasing more fuel-efficient aircraft and eliminating single-use plastics, but the new initiative would instantly make it the industry leader. (more...)
- February 17, 2020
The company - the world's biggest airline - has previously made efforts to mitigate its carbon impact by purchasing more fuel-efficient aircraft and eliminating single-use plastics, but the new initiative would instantly make it the industry leader. (more...)
Tesla costs its secondary offering at $767 a share
- February 17, 2020
The stock rally even allowed the company to break the $150 billion threshold earlier in February, before the prices settled to around $800 per share on Friday. Tesla shares surged Thursday as Musk pledged to buy up to $10 million in shares from the offering. The company said it plans to use the net proceeds "to further strengthen its balance sheet, as well as for general corporate purposes". (more...)
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- February 17, 2020
The stock rally even allowed the company to break the $150 billion threshold earlier in February, before the prices settled to around $800 per share on Friday. Tesla shares surged Thursday as Musk pledged to buy up to $10 million in shares from the offering. The company said it plans to use the net proceeds "to further strengthen its balance sheet, as well as for general corporate purposes". (more...)
Juul hawked vaping products on Cartoon Network, lawsuit says
- February 17, 2020
Massachusetts Attorney General Maura Healey announced details of the suit Wednesday, saying Juul "intentionally discarded" an ad campaign geared toward adults, instead opting to focus on "young models and influencers to peddle their sweet flavored products". (more...)
- February 17, 2020
Massachusetts Attorney General Maura Healey announced details of the suit Wednesday, saying Juul "intentionally discarded" an ad campaign geared toward adults, instead opting to focus on "young models and influencers to peddle their sweet flavored products". (more...)
Wing it: Bombardier sells A220 stake to Airbus
- February 16, 2020
Bombardier said it agreed with Airbus SE and the Quebec government to transfer its shares to Airbus and the province, its latest move to emerge from more than $9 billion in debt. Quebec Economy Minister Pierre Fitzgibbon called the new deal a "win-win" for all partners. "That said, we already know the intentions of Airbus, which plans to increase their footprint in Quebec". (more...)
- February 16, 2020
Bombardier said it agreed with Airbus SE and the Quebec government to transfer its shares to Airbus and the province, its latest move to emerge from more than $9 billion in debt. Quebec Economy Minister Pierre Fitzgibbon called the new deal a "win-win" for all partners. "That said, we already know the intentions of Airbus, which plans to increase their footprint in Quebec". (more...)
Roku nears 37M active accounts after busy Q4
- February 16, 2020
Roku saw revenues and usage figures soar in Q4 2019 as streaming continued to take hold with consumers and with Roku's various media and advertising partners. 2019 was a tremendous year for TV streaming as the massive shift of the TV ecosystem gained momentum. Roku's stock was one of the top performers of 2019, gaining a whopping 337% over the year and while the stock has had a bumpier ride in 2020 thus far it has still added a little under 5% year to date. (more...)
- February 16, 2020
Roku saw revenues and usage figures soar in Q4 2019 as streaming continued to take hold with consumers and with Roku's various media and advertising partners. 2019 was a tremendous year for TV streaming as the massive shift of the TV ecosystem gained momentum. Roku's stock was one of the top performers of 2019, gaining a whopping 337% over the year and while the stock has had a bumpier ride in 2020 thus far it has still added a little under 5% year to date. (more...)
Court rules Apple must pay California workers during bag checks
- February 16, 2020
Apple has 52 retail shops in California. But those that do will now be forced to pay overtime after the California Supreme Court made its decision in a case that dates back to 2013, according to a Bloomberg Law report . "Since Apple requires its employees to wear Apple-branded clothing while they work, but instructs them to take off or cover that clothing while outside the Apple store , it is reasonable to assume that some employees will wear their work uniform or a change of clothes in a ... (more...)
- February 16, 2020
Apple has 52 retail shops in California. But those that do will now be forced to pay overtime after the California Supreme Court made its decision in a case that dates back to 2013, according to a Bloomberg Law report . "Since Apple requires its employees to wear Apple-branded clothing while they work, but instructs them to take off or cover that clothing while outside the Apple store , it is reasonable to assume that some employees will wear their work uniform or a change of clothes in a ... (more...)
Barclays boss Staley "may be running out of lives" amid Epstein probe
- February 16, 2020
The investigation centres around "Mr. Staley's characterisation to the Company of his relationship with Mr. Epstein and the subsequent description of that relationship in the Company's response to the FCA", Barclays said . The relationship ended in the "middle to fall of 2015", Staley told reporters, saying there was no contact after he became chief executive of Barclays in December 2015. (more...)
- February 16, 2020
The investigation centres around "Mr. Staley's characterisation to the Company of his relationship with Mr. Epstein and the subsequent description of that relationship in the Company's response to the FCA", Barclays said . The relationship ended in the "middle to fall of 2015", Staley told reporters, saying there was no contact after he became chief executive of Barclays in December 2015. (more...)
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