Business


Sharp drop seen in global investment Sharp drop seen in global investment
- June 10, 2018

Global foreign direct investment (FDI) fell by nearly a quarter to $1.43 trillion (£1.07 trillion) a year ago and the outlook is clouded by risks including trade wars and debt, the United Nations trade and development agency UNCTAD said on Wednesday. (more...)
CFTC Issues Subpoenas To Four Major Cryptocurrency Exchanges CFTC Issues Subpoenas To Four Major Cryptocurrency Exchanges
- June 10, 2018

CME Group Inc's exchange derives bitcoin value from the average of the bitcoin prices at four different exchanges - BitStamp, Coinbase, itBit, and Kraken. The CFTC is working with the Justice Department, which the sources claimed is investigating the manipulation of other cryptocurrencies. Now there is no agreement legally compelling bitcoin markets to share trading data relating to futures contracts, such as time of trades, unfiled or canceled orders, order sizes, or trader identities, all ... (more...)
B.C. unemployment rates continues to be the best in Canada
- June 10, 2018

The region's unemployment rate was 5.0 per cent, up from 4.8 per cent in April. Paul Ferley, assistant chief economist at Royal Bank, said some of the growth in wages reflected minimum wage increases introduced this year in both Ontario and Quebec, but those increases do not explain all of the upward pressure. (more...)
UK watchdog to push ahead with new 'Aramco' listing category UK watchdog to push ahead with new 'Aramco' listing category
- June 10, 2018

The plans were originally floated with an eye on making it easier for oil major Saudi Aramco to list in the United Kingdom, as part of a concerted effort by British authorities to draw the listing away from NY and Hong Kong. Initially the proposal had been for four of 15 rules to be waived to make a listing practical for a sovereign-controlled body . The UK will press ahead with plans to soften its listing regime to attract state-controlled companies such as Saudi Aramco, drawing ... (more...)
Democrats, McCain criticize Trump for G7 comments Democrats, McCain criticize Trump for G7 comments
- June 10, 2018

The joint communique was confirmed by Prime Minister Trudeau, who said that Trump's tough talk on trade shows that there is a lot of work to be done between the countries. The wonderful moment was caught on the official G7 broadcaster mic while the G7 leaders , plus European Union chiefs Jean-Claude Juncker and Donald Tusk, stood on a podium for a photocall. (more...)
Japan Q1 GDP unchanged from preliminary -0.6 pct annualised Japan Q1 GDP unchanged from preliminary -0.6 pct annualised
- June 10, 2018

Harsh winter weather led to a spike in fresh food prices in January, contributing to weaker purchasing power for many households. Analysts said the decline was broadly in line with expectations but they are concerned about the decline in consumer spending. (more...)
Chevron moves Brazil chief to lead Venezuela operations after arrests
- June 10, 2018

West Texas Intermediate for July delivery declined 21 cents to settle at $65.74 a barrel on the New York Mercantile Exchange. Oil prices fell on Friday as weakening demand in China and surging USA output weighed on markets despite supply woes in Venezuela and Iran on top of OPECs production cuts. (more...)
Gavin Patterson is out as BT CEO Gavin Patterson is out as BT CEO
- June 10, 2018

Patterson received a total of 2.3 million pounds ($3.1 million) in the year to the end of March, according to the company's annual report - basic pay of 997,000 pounds plus a 1.292 million pound bonus. However, it's been a different story over the last two years, ' he said. Patterson's leave follows a particularly hard 2017. BT's Italian arm was guilty of improper accounting practices and "inappropriate behaviour" past year, resulting in the company taking a £225m hit after paying Deutsche ... (more...)
Melbourne To Perth Flight Diverted After Passenger 'Threatened To Kill Everyone' Melbourne To Perth Flight Diverted After Passenger 'Threatened To Kill Everyone'
- June 10, 2018

The flight resumed at 1.13am and landed in Perth at 3.12am local time. Her baggage was removed and inspected before the plane could refuel and continue its journey to Perth. But one passenger, with the handle Brosh said on Twitter : "Passenger was experiencing some mental illness". Virgin Australia has since apologised for the delay. (more...)
Portland food cart owner arrested for assault, harassment Portland food cart owner arrested for assault, harassment
- June 10, 2018

A food cart operator who's been identified as Islam Elmasry was caught on tape verbally and physically attacking the victim Carlotta Washington , who attempted to pay for her lunch in quarters at "Small Pharoah's" halal cart. Witnesses could be heard in the video coming to Washington's defense. "When you fight with someone you need to get what is inside you out because you are boiling", El Masry said. (more...)
3100 pounds of frozen Tyson chicken recalled over plastic contamination
- June 10, 2018

Tyson Foods has recalled over 3,000 pounds of frozen chicken after it was discovered there were pieces of plastic in the chicken's breading ingredients. Tyson said a breading supplier first flagged the problem on June 8, warning that its product was possibly contaminated with blue and clear pieces of soft plastic. (more...)
Trump Threatens To End Trade With United States' Closest Allies Trump Threatens To End Trade With United States' Closest Allies
- June 10, 2018

Despite weeks of harsh rhetoric aimed at European Union leaders, an upbeat President Trump said Friday that he and America's closest allies had made progress on the first day of the G7 meeting in Canada. Though the USA appears increasingly isolated from its allies, Trump on Saturday insisted that his relationships with other leaders remains "great". (more...)
Trump arrives in Quebec for G7 summit, wants Russian Federation invited back
- June 10, 2018

European Council President Donald Trump accused Trump of challenging the "rules-based worldwide order", and suggested his policy "makes no sense at all". The tit-for-tat dispute over USA metals tariffs followed more than a year of tense and so far unsuccessful negotiations to renew NAFTA and a long and failed charm offensive by Trudeau and top Canadian officials to avoid Trump's trade ire. (more...)
Lotto Max to give away a record-breaking $112 million tonight
- June 09, 2018

After going unclaimed for several weeks, the $60 million dollar jackpot in Friday night's Lotto Max draw was won by a single ticket sold in Quebec. Players can pay $1 for an additional row for the Extra prize. There were also four Max Millions winning tickets sold in B.C. One second prize, worth $202,003.60, was sold in Cambridge. Lottery players can check their numbers on the Winning Numbers page on OLG.ca or on the OLG Lottery App. (more...)
US may be heading toward largest labor strike in decades US may be heading toward largest labor strike in decades
- June 09, 2018

A national pact with the union covers about 260,000 UPS workers, and the current contract expires July 31 . CNN reported the possibility of a labor strike of UPS union workers that could disrupt the economy, estimating that shipments UPS transports equal an estimated 6% of the nation's GDP (Gross Domestic Product). (more...)
IMF Loans Argentina $50 Billion to Fend Off Economic Implosion IMF Loans Argentina $50 Billion to Fend Off Economic Implosion
- June 09, 2018

Argentinians had a bitter experience with the International Monetary Fund due to the austerity package imposed on the country following the worst economic crisis in 2001-2002, forcing the nation into default. "It is clear the country has capacity to pay". Dujovne said economic growth was expected at 1.4 percent for 2018 and between 1.5 percent and 2.5 percent for 2019, down from prior expectations above 3 percent in both years. (more...)
Ant Financial sets global fundraising bar with $14B round Ant Financial sets global fundraising bar with $14B round
- June 09, 2018

The dollar share made up over $10 billion, said people with knowledge of the matter. The fundraising round was done in two tranches: a Chinese yuan tranche comprised mostly of existing investors and a USA dollar tranche with investments from Warburg Pincus, T.Rowe Price and The Carlyle Group, among others. (more...)
Move over, China: U.S Move over, China: U.S
- June 09, 2018

For the past five years, China has had the world's fastest computer. Summit is housed in the Energy Department's Oak Ridge National Laboratory in Tennessee, which also holds the US's previously top-ranked system, Titan . It's going to have a profound impact in energy research, scientific discovery, economic competitiveness and national security", Perry said in a news release . (more...)
Energy Secretary Rick Perry Defends Trump's Efforts To Help Coal Plants Energy Secretary Rick Perry Defends Trump's Efforts To Help Coal Plants
- June 09, 2018

The same day, Bloomberg released a leaked draft proposal from the Energy Department - which has never been confirmed by anyone in the administration as the document to be followed. "There's nothing about these plants that's particularly needed in order to ensure the reliable functioning of the bulk power system". "No matter which statute you're looking at, the portrayal of the current circumstances of these plants as an emergency is one that is wrong", Smaczinak said in an interview with ... (more...)
China’s ZTE signs agreement to lift US ban China’s ZTE signs agreement to lift US ban
- June 09, 2018

Chinese cellphone maker ZTE Corp . - the target of U.S. sanctions before President Trump ordered an abrupt about-face last month - has reportedly agreed to a preliminary deal to lift a U.S. President Donald Trump has drawn fire from Congress for intervening in the case to rescue a Chinese company that had violated us sanctions against two rogue nations that have been pursuing nuclear weapons programs. (more...)
Bitcoin sceptic Jamie Dimon tells buyers to 'beware' Bitcoin sceptic Jamie Dimon tells buyers to 'beware'
- June 09, 2018

Buffett's Berkshire, along with Jamie Dimon's JPMorgan and Jeff Bezos's Amazon, said in late January that they planned to start a joint venture to improve health care for their workers. Buffett has echoed the idea that guidance can lead to corporate misbehaviour. The two executives said on CNBC Thursday that companies that focus on hitting their quarterly numbers may do things that hurt them in the future, such as delaying investments or changing when certain gains are recorded. (more...)
National Big Lotto Max Winner News Centre News National Big Lotto Max Winner News Centre News
- June 09, 2018

The OLG says MAXMILLIONS prizes for Friday night's draw, worth $1,000,000 each, were sold in the London area and Windsor. Kennedy asked his friend to drive him to Rosetown's 7-Eleven to beat the clock. "I just paced around the kitchen nervously". "They don't know yet", he said. 27 of the 52 available Max Million prizes were also claimed through 37 tickets. (more...)
Lucky victor claims $315M Powerball jackpot prize Lucky victor claims $315M Powerball jackpot prize
- June 09, 2018

It's unknown if the Souami had made a decision to claim the lump sum or take their winnings over time. Souami thought he might have won the $50,000 prize, but when the validation slip said jackpot, his heart began to race and struggled to fill out the claim form. (more...)
Kia recalls more than 500,000 vehicles for possible faulty air bags Kia recalls more than 500,000 vehicles for possible faulty air bags
- June 09, 2018

In the affected vehicles, the air bag control unit may short circuit and prevent the front air bags and seat belt pretensioners from deploying in a crash, according to the NHTSA recall notice. The agency says four crashes occurred in Sonatas and two happened in Fortes. One Forte crash happened in Canada. All six crashes were reported to NHTSA between 2012 and 2017, but it was unclear when they occurred. (more...)
US isolated on trade and Russia as leaders meet US isolated on trade and Russia as leaders meet
- June 09, 2018

The tit-for-tat risks a full blown trade war , something economists have said would be bad for all involved. Trump imposed the tariffs on the grounds that weak domestic industries could affect US national security. Politico reports that Trump told assembled world leaders that "we should at least consider no tariffs, no barriers - scrapping all of it", a plan that the website reports was challenged by G-7 host and Canadian Prime Minister Justin Trudeau . (more...)

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