Business


Province reveals new driver's licence/ID card design
- June 07, 2018

Rainbow printing: a gradual transition of colour from one part of the card to another makes it hard to scan and replicate. In addition, advances in production technology are expected to save the government more than $1 million per year compared to the old cards. (more...)
Concern after Qantas bows to Beijing pressure on Taiwan Concern after Qantas bows to Beijing pressure on Taiwan
- June 07, 2018

Asked about whether Qantas' decision sets a worrying precedent, Australia's Foreign Minister Julie Bishop told Business Insider that "the decision of how Qantas structures its website is a matter for the company's management". "Because there is only one China in the world". Hong Kong , Taiwan and Macau have always been part of China. "Therefore China's request is legitimate. (more...)
Canada faces risks from US Trade policy Canada faces risks from US Trade policy
- June 07, 2018

OTTAWA-Canada is in a period of heightened economic anxiety due to US trade and tax policy, the International Monetary Fund said Monday, warning it could have a profound impact on investment and growth in the country for an extended period. (more...)
Euro climbs as Italy risks ease, markets rally Euro climbs as Italy risks ease, markets rally
- June 06, 2018

The vote was the first test of the coalition between the anti-immigrant League party and the anti-establishment 5-Star Movement after being sworn into power on Friday. "The speech shows there's no signs that any of their proposals will be watered down", said Antoine Bouvet, an interest-rates strategist with Japanese bank Mizuho. (more...)
India retains fastest-growing economy tag; World Bank forecasts 7.3% growth India retains fastest-growing economy tag; World Bank forecasts 7.3% growth
- June 06, 2018

Although, there still remain concerns regarding increase in inflation, particularly in India. "We're asking whether the tide is now turning", Ayhan Kose, director of the World Bank Group's Development Prospects Group , said in an interview. (more...)
Canada's trade surplus with the USA widened in April
- June 06, 2018

Imports fell 0.2%, while exports rose 0.3%. The narrowing in the deficit was much larger than anticipated by economists, who had forecast a trade gap of C$3.4 billion during the month according to a Bloomberg survey. "While there's still tons of room for improvement on the trade front, this is welcome news, and consistent with the Bank of Canada hiking rates at the July policy meeting". (more...)
European Union to impose retaliatory tariffs on US imports from July
- June 06, 2018

Metal coils are seen at ArcelorMittal steel plant in Ghent, Belgium, May 22, 2018. The EU says it will introduce "rebalancing" tariffs on about 2.8 billion euros' ($4.25 billion Cdn) worth of USA steel, agricultural and other products, including bourbon, peanut butter, cranberries and orange juice. (more...)
RBI hikes repo rate by 25 basis points to 6.25% RBI hikes repo rate by 25 basis points to 6.25%
- June 06, 2018

This is the first rate hike by the central bank in nearly four and a half years. The Reserve Bank of India ( RBI ) on Wednesday hiked the key lending or repo rate by 25 basis points to 6.25 per cent as it announced its second bi-monthly monetary policy statement for 2018-19. (more...)
Oil slips after President Trump calls for Opec production boost
- June 06, 2018

Oil is trading near the lowest level in nearly two months after Saudi Arabia and Russian Federation signaled in late May that they were ready to ease output curbs to fill potential supply losses in Iran and Venezuela. Both benchmarks were trading down significantly week on week on Tuesday afternoon as reports surfaced that the United States had quietly asked Saudi Arabia and other OPEC nations to raise oil production by 1 million bpd. (more...)
Salad Cream may be renamed Sandwich Cream, sauces say Salad Cream may be renamed Sandwich Cream, sauces say
- June 06, 2018

But the news is set to cause consternation among traditionalist, including those who rallied to save the brand from extinction a few years ago. Have they not thought about the effect on the nation's waistline? "After a century of being a must-have ingredient in lunchboxes and picnic hampers up and down the country, Heinz Salad Cream is still the "Original Tangy Taste" that makes it one of Britain's best-loved sauces", Heinz describes the dressing on their website ; it's been around for ... (more...)
IHOP announces name change IHOP announces name change
- June 06, 2018

Find out what it could b on 6.11.18. The American pancake house and diner chain has many locations across Canada and posted it will reveal what this mysterious "b" stands for on June 11. Besides being genuinely angry, responses on Twitter regarding the name change are just downright hilarious. IHOP parent Dine Brands Global, based in Glendale, Calif., changed its name from Dine Equity in February. (more...)
Popular DNA testing service reports breach affecting 92 million users Popular DNA testing service reports breach affecting 92 million users
- June 06, 2018

Family genealogy and DNA testing site MyHeritage announced on Monday a security breach during which an attacker made off with account details for over 92 million MyHeritage users. It also noted that it doesn't store credit card information, relying on third-party billing companies. In a statement issued late Monday afternoon, MyHeritage said there was "no reason to believe" that data other than email addresses and hashed passwords had been accessed without authorization. (more...)
Tesla is sliding ahead of its annual meeting Tesla is sliding ahead of its annual meeting
- June 06, 2018

One investor proposed splitting the chairman and chief executive jobs, both of which Musk holds, arguing the sprawling company has become hard to oversee. Musk, who has insisted the company will not need to raise money this year, has also come under fire for his behavior during an earnings conference call last month, in which he cut off analysts posing financial queries, rejecting them as "boring, bonehead questions". (more...)
Google retreating from military AI project, claim reports Google retreating from military AI project, claim reports
- June 05, 2018

Following months of employee outrage and media scrutiny, Google has decided not to renew its contract to develop AI image recognition software for US military drones , Gizmodo reported . Maven had an initial budget of $70 million. Of course, this move disappointed a lot of Google employees and nearly everyone who believed in the " Don't be evil " tagline of the company. (more...)
Kudlow: Trump Considering Separate Trade Deals With Canada, Mexico Kudlow: Trump Considering Separate Trade Deals With Canada, Mexico
- June 05, 2018

U.S. President Donald Trump may seek separate talks with Canada and Mexico in a bid to get individual trade deals with the two countries, White House economic adviser Larry Kudlow said on Tuesday. On Friday, Trump said he might prefer to end NAFTA in favor of separate bilateral agreements with the two US neighbors. Canadian labour productivity fell by 0.3 per cent in the first quarter, reflecting a deceleration in business output from the previous quarter, while hours worked accelerated, ... (more...)
David Koch says he's retiring with health in decline David Koch says he's retiring with health in decline
- June 05, 2018

With the start date looming for USA tariffs on Chinese goods, the latest round of U.S. "The prime minister also underlined the need to safeguard jobs that will potentially be affected by this decision". "The toll on rural America from escalating trade disputes with critically important trade partners is mounting", said Jim Heimerl, the council's president and a pork producer from Johnstown, Ohio. (more...)
Gilt Groupe Sold to Rival Rue La La Gilt Groupe Sold to Rival Rue La La
- June 05, 2018

In October, the highly indebted HBC sealed a deal to sell the classic building, which it has occupied since 1914, to WeWork for $850 million but planned to lease back a few floors to keep operating a store. Foulkes said in a statement. She said the 13 new Hudson's Bay stores in the Netherlands, that banner's first foray outside of Canada, had not met internal targets. (more...)
Mexico Slaps Tariffs On US Steel, Agricultural Products
- June 05, 2018

The announcement comes after US trade negotiations with China appeared to have stalled over the weekend. "Reuters was the first outlet to report on the tariffs on usa pork imports on Tuesday". European Union trade commissioner Cecilia Malmström said: "We are not in a trade war, but we are in a very hard situation caused by the United States". (more...)
Trump considering separate trade deals with Canada, Mexico: Kudlow
- June 05, 2018

The Mexican peso dropped sharply versus the dollar early Tuesday after top White House economic adviser Larry Kudlow suggested the United States could engage in separate trade talks with Mexico and Canada. The remarks are likely to create more economic uncertainty between Canada and the USA following Trump's imposition of steel and aluminum tariffs that now affect imports from this country, Mexico and Europe. (more...)
United Kingdom confident Brexit won't bring Armageddon - May's spokesman United Kingdom confident Brexit won't bring Armageddon - May's spokesman
- June 05, 2018

Britain could run out of food, petrol and medicine within two weeks if the United Kingdom leave the European Union without a deal. One attendee said that Britain needed to become predictable again, as it had been in the past, to help secure further spending, according to the source. (more...)
Sky takeover: United Kingdom clears way for deal to proceed Sky takeover: United Kingdom clears way for deal to proceed
- June 05, 2018

Comcast has offered to pay £12.50 ($16.70) per share for Sky ( SKYAY ), topping Fox's (FOX) bid of £10.75 ($14.40). Murdoch launched his bid to buy all of Sky in December 2016, but the takeover has been held up by United Kingdom politicians and regulators who fear it will give him too much sway over the news agenda. (more...)
This Airline CEO Said Only a Man Can Do His Job This Airline CEO Said Only a Man Can Do His Job
- June 05, 2018

Qatar Airways is in the process of filing for a licence to set up a new airline in India, al-Baker said , but he warned the regulatory requirements were tough. Al Baker clarified his position in an interview with Bloomberg Television's Haidi Lun after his press conference. "I was only referring to one individual ", he said. (more...)
Commonwealth Bank agrees to $700m AUSTRAC settelement Commonwealth Bank agrees to $700m AUSTRAC settelement
- June 05, 2018

In March, CBA had said the Federal Court had referred the civil penalty proceedings initiated by AUSTRAC against the bank for mediation at the request of both the parties. CBA will recognise a $700 million provision in its financial statements for the full year ending30 June 2018which will be announced on8 August. In all, the bank admitted to the late filing of 53,506 transaction reports for cash deposits through its so-called intelligent deposit machines. (more...)
China investigates Samsung, Micron and SK Hynix
- June 05, 2018

China's ability to challenge existing DRAM and NAND pricing structures simply by making additional manufacturing capacity available is therefore somewhat limited. According to Trendforce , China is now the largest importer of DRAM and NAND in the world, accounting for 20 percent of the former and 25 percent of the latter. (more...)
Australian watchdog charges ANZ, Citigroup and Deutsche with cartel offences Australian watchdog charges ANZ, Citigroup and Deutsche with cartel offences
- June 05, 2018

The ACCC said in a statement that the cartel conduct is alleged to have taken place following an ANZ institutional share placement in August 2015. The charges related to alleged cartel behaviour related to the trading of ANZ shares held by Deutsche Bank and Citigroup in August 2015. (more...)

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