Business


New Italian government readies for power New Italian government readies for power
- June 02, 2018

The new deal has not yet been blessed by Italian president Sergio Mattarella , who earlier this week nominated a technocrat, Carlo Cottarelli, to serve as prime minister. He has promised to ramp up deportations of irregular immigrants. The economy ministry that was previously mooted for Savona was given to the less controversial Giovanni Tria , a political economist who advocates slashing taxes but is in favour of keeping Italy in the eurozone. (more...)
United States job growth surges, unemployment rate falls to 3.8 per cent
- June 02, 2018

Unemployment rate fell to its lowest level in 18 years in May as hiring was far stronger than expected and the size of the workforce continued to shrink, the US government said Friday. "And if this tweet is conveying inside information about a particularly good jobs number you should never get them in advance from the Council of Economic Advisers again", he wrote on Twitter . (more...)
Warren Buffet reportedly offered Uber a $3 billion investment Warren Buffet reportedly offered Uber a $3 billion investment
- June 02, 2018

A representative for Buffett did not immediately respond to a request for comment. The proposed deal, first reported by Bloomberg and The Wall Street Journal , citing unnamed sources, had echoes of Buffett's $5 billion bet on Goldman Sachs during the depths of the 2008 financial crisis. (more...)
Microsoft reportedly held talks about acquiring GitHub
- June 02, 2018

Github, who generates $200 million in subscription revenue including $110 million from enterprise customers like Microsoft, is reportedly asking around $5 billion. We reached out to both Microsoft and Git Hub to confirm these reports, but did not receive an immediate response. As of March, GitHub is used by 24 million people regularly to collaborate and share code and hosts 80 million source code repositories for software in languages like JavaScript, Python, and C++. (more...)
Analyst Stock Ratings: Haemonetics Corporation (HAE), Fiat Chrysler Automobiles N.V. (FCAU) Analyst Stock Ratings: Haemonetics Corporation (HAE), Fiat Chrysler Automobiles N.V. (FCAU)
- June 02, 2018

Performance Review: To clear the blur picture shareholders will need to look a little deeper. Analyst recommendation for this stock stands at 2.6. The stock price is showing -6.22% distance below 50 SMA. ( FCAU ). Fiat Chrysler Automobiles has a fifty-two week low of $10.33 and a fifty-two week high of $24.95. Its EPS was $2.76 while outstanding shares of the company were 1.54B. (more...)
Petronas Is Said Near Investment in $31 Billion Canada Project Petronas Is Said Near Investment in $31 Billion Canada Project
- June 02, 2018

Shell teamed up with its Asian partners in 2012 to develop a proposal for an LNG export hub in western Canada. The project would consist of two LNG processing units that could produce as much as 6 million tons of super-cooled gas per year each and, with Asian economies among the largest consumers of LNG in the world, Shell's partners at the time said the project would be a valuable asset. (more...)
Carluccio's in Norwich may close after restructuring plan is approved Carluccio's in Norwich may close after restructuring plan is approved
- June 02, 2018

Chief executive, Mark Jones, was quoted as saying: "The business is not immune from well-documented pressures sweeping through the casual dining sector and indeed much of the wider United Kingdom high street, including retail". Will Wright, restructuring partner at KPMG and joint supervisor of the CVA, said: "This is an important step forward for the business, allowing Carluccio's to complete its financial restructuring plan and embark on a comprehensive operational transformation programme". (more...)
Samsonite CEO Packs His Bags a Week After Short-Seller Attack Samsonite CEO Packs His Bags a Week After Short-Seller Attack
- June 02, 2018

Shares of Samsonite , based in Luxembourg, trade on the Hong Kong stock exchange. The resignation is one of the biggest victories in Asia for activist short sellers , who have typically targeted less recognizable companies, with mixed results. (more...)
Trump to Trudeau: ‘Fair Deal’ or ‘No Deal’ on NAFTA Trump to Trudeau: ‘Fair Deal’ or ‘No Deal’ on NAFTA
- June 01, 2018

The numbers are clear: The United States has a $2 billion USA dollars surplus in steel trade with Canada - and Canada buys more American steel than any other country in the world, half of U.S. But the tariffs stung particularly in Canada, where Trudeau evoked the history of the two countries fighting together, from the beaches of Normandy to the mountains of Afghanistan. (more...)
Jeep's India and global plans detailed in FCA's five year plan
- June 01, 2018

The CEO and chairman of FCA addressed investors on Friday in Balocco, Italy - his last major presentation before his expected retirement in 2019. Fiat itself could also be left in a much smaller form as Marchionne looks set to ditch unprofitable models. (more...)
165 trains to be removed from schedules 165 trains to be removed from schedules
- June 01, 2018

David Brown, managing director of Northern, said: "Our plans for modernisation are not all being delivered in the way we want. We're truly sorry for this and are working hard to fix this". "We have to maintain the service as good as we can on a day-to-day basis while taking drivers off routes to train them". These changes were billed as a serious increase and improvement in services, but instead it has resulted in chaos, impacting terribly on passengers, both in and outside London and damaging ... (more...)
Trump's early tweet about the jobs report moved gold price, yields
- June 01, 2018

ET. A number of US employers, from seafood processors to hotels and restaurants, have complained that they can not fill jobs with domestic workers and were shut out of the visa process, which this year was run as a lottery for the first time rather than the usual first-come, first-served basis. (more...)
Canada: Bank of Canada maintains overnight rate target at 1.25% Canada: Bank of Canada maintains overnight rate target at 1.25%
- June 01, 2018

It balked at doing so this week, electing to leave the benchmark rate at 1.25 per cent for the third consecutive policy meeting. Before today's statement, investors were pricing in two more rate increases this year - in July and December. (more...)
Visa transactions affected by service disruption
- June 01, 2018

In a statement VISA said: "Visa is now experiencing a service disruption". Aldi Plas Coch can't take credit card payments at the moment. The incident is affecting Visa services across Europe . The company replied: "Hi Sandra, we are very sorry for the inconvenience but this is a nationwide issue and is out of our control". "We are in touch with Visa to help provide a fix to this and we'll issue an update via our social channels and email as soon as we have one". (more...)
Spain flight diverted from Amsterdam course due to smelly passenger Spain flight diverted from Amsterdam course due to smelly passenger
- June 01, 2018

But before it got there, passengers began to gag and become violently ill. The Boeing 737 - which took off from Schiphol Airport - was grounded for "medical reasons". "The smell made me think that the man hadn't washed for weeks". The man was then handed over to a waiting ambulance and medical team, before the flight continued on to its destination. (more...)
‘Embarrassing’ leak shows European Union falls short of own data law ‘Embarrassing’ leak shows European Union falls short of own data law
- June 01, 2018

While there are a few problems with GDPR , it is probably not going to stop investment and innovation - other than for those companies which depend on stealing information from the stupid on social notworking sites and flogging it to the highest bidder, or using it to game elections. (more...)
Britain's funeral sector to be investigated amid soaring costs Britain's funeral sector to be investigated amid soaring costs
- June 01, 2018

As part of this study, we want to ensure that people can at least receive clear information on prices and the services making up a funeral, and that people get a fair deal on the cremation fees charged. It is an independent non-ministerial government department with responsibility for carrying out investigations into mergers, markets and the regulated industries and enforcing competition and consumer law. (more...)
Criminal cartel charges expected to be laid against ANZ, ACCC confirms Criminal cartel charges expected to be laid against ANZ, ACCC confirms
- June 01, 2018

Both the bank and a senior official were facing charges over the trading of its own shares, the Australian Competition and Consumer Commission (ACCC) said. But ANZ's raising, which comprised the placement and a $500 million share purchase plan for ordinary shareholders, caught the market by surprise because then-chief executive Mike Smith had suggested it would not be necessary. (more...)
Trudeau: Mike Pence's Demand Sank NAFTA Talks
- June 01, 2018

Earlier Thursday, Trudeau announced retaliatory tariffs in response to USA duties on steel and aluminum made in Canada , Mexico and European Union nations. "It would have made much more sense to have a coordinated action from all the other countries that are being impacted - it's a whole lot harder for China to start a trade war with several economies and not just a bilateral relationship between the two", he continued. (more...)
Steel and aluminum tariffs to apply to EU, Mexico, Canada Steel and aluminum tariffs to apply to EU, Mexico, Canada
- June 01, 2018

The European Union was "a peace project, including on trade", Mogherini said. "Any government that embarks on a protectionist path inflicts the most damage on itself", he added. He said he would travel to China on Friday for trade talks this weekend. The good news is that the UK's import-heavy economy is more resilient to the impact of tariffs than countries such as China and Germany, who export more goods than they import, says The Daily Telegraph's Matthew Lynn. (more...)
People Are Losing It Over Malala Yousafzai's Otherworldly Message to Elon Musk People Are Losing It Over Malala Yousafzai's Otherworldly Message to Elon Musk
- June 01, 2018

The story, explains how Musk's Tesla auto fell from the sky and "crushed Malala to death", saying "the successful launch of [Elon Musk's] vehicle into orbit. It also tickled Malala, who's better known by her first name than her surname. His reply, "Finders Keepers", has Twitter rolling with laughter. To this, Malala tweeted a gif of a girl saying "OBVIOUSLY". (more...)
OECD Raises GDP Forecast for Slovenia OECD Raises GDP Forecast for Slovenia
- June 01, 2018

The growth prospects in developing countries appear solid but at different speed patterns, it added. The OECD in its latest Economic Outlook expects a pick-up in business investment will help boost economic growth. The OECD said projected increases in interest rates and government spending will improve New Zealand's macroeconomic policy balance and both should also serve to reduce housing market pressures. (more...)
Italy reached a coalition agreement, ending months of political limbo Italy reached a coalition agreement, ending months of political limbo
- June 01, 2018

The populist 5-Star Movement came out as the single largest party in Italy's March elections, capturing almost a third of the vote. Far-right League leader Matteo Salvini was named interior minister while the head of Five Star Movement Luigi Di Maio is slated to become minister for economic development. (more...)
U.S. businesses add a solid 178,000 jobs in May U.S. businesses add a solid 178,000 jobs in May
- June 01, 2018

The figures suggest companies continue to hire at a healthy pace but may be pulling back as the number of people who can't find jobs dwindles, making it harder to find new employees. Private-sector hiring slowed somewhat in May, according to payrolls firm ADP, which warned Wednesday that some firms are having trouble finding workers in a tightening labor market. (more...)
US economy adds surprising 223,000 jobs in May
- June 01, 2018

In April, job gains disappointed, rising by 164,000 against expectations for a 193,000 job increase while the unemployment rate fell to 3.9%, the lowest since December 2000 and snapping what had been a six-month streak of the unemployment rate sitting at 4%. (more...)

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