Business


Seattle Repeals Job-killing Head Tax One Month After Passing It Seattle Repeals Job-killing Head Tax One Month After Passing It
- June 16, 2018

People on both sides of the head-tax debate packed the council chambers, waving signs with the slogans "Tax Amazon" and "No Tax on Jobs". The vote demonstrated Amazon's capacity to forcefully push back on government charges, particularly in its wealthy principal residence where it's the most prominent manager with more than 45,000 laborers and where it has been condemned for adding to a broadening salary hole. (more...)
UK Court rules in landmark gig economy case | AP business UK Court rules in landmark gig economy case | AP business
- June 16, 2018

Gary Smith , who worked for Pimlico Plumbers for almost six years from 2005, previously won a number of court rulings which determined he could claim "worker" status, even though he was described in his contract as a "self-employed operative". (more...)
USA charges Theranos founder Elizabeth Holmes with criminal fraud USA charges Theranos founder Elizabeth Holmes with criminal fraud
- June 16, 2018

CNBC reports that Holmes will still chair Theranos' board and the company's general counsel, David Taylor, has been appointed CEO. The company has repeatedly laid off employees in an effort to cut costs and is staring down debts that could force it to liquidate as early as this summer, the Wall Street Journal has reported. (more...)
Salmonella outbreak linked to pre-cut melon expands to Tennessee Salmonella outbreak linked to pre-cut melon expands to Tennessee
- June 15, 2018

The USDA's Food Safety Inspection Service routinely gathers and posts lists of specific locations where recalled products have been sold, but the FDA has consistently said it can not release such details, saying they constitute "confidential corporate information" that is protected by federal law. (more...)
Donald Trump announces tariffs on US$50 billion of Chinese goods Donald Trump announces tariffs on US$50 billion of Chinese goods
- June 15, 2018

The U.S. trade deficit with China was $336 billion in 2017. The secretary's visit to Beijing came days after Trump and North Korea's Kim Jong Un held their summit in Singapore. Earlier Friday, the Chinese Foreign Ministry said Beijing will retaliate against any move by the United States to impose punishing tariffs . The second wave of products has been cued up as Washington prepares to announce on Friday a list of about $50 billion of goods to be targeted. (more...)
Airline technical issue causes more than 100 flight cancellation Airline technical issue causes more than 100 flight cancellation
- June 15, 2018

The airline's efforts to accommodate passengers on American flights and other regional carriers were found lacking by some customers who expressed their displeasure online. Around 2:45 p.m. the company tweeted about having a technical issue that was impacting several of their digital operating systems, including their mobile app and self-service kiosks at the airport where passengers can usually check-in and get boarding passes. (more...)
European Central Bank sets end date for huge stimulus program
- June 15, 2018

The euro slid versus the dollar Thursday after the European Central Bank said it would end its €2.5 trillion ($3 trillion) bond-buying program at the end of the year and expects to keep rates steady through next summer. Eurozone activity has accelerated markedly over the past three years, with some estimates suggesting that QE contributed 0.75 percentage points a year to the average 2.25% annual growth rate. (more...)
Japan suspends sale of Canadian wheat after GMO variety found in Alberta
- June 15, 2018

The Canadian Food Inspection Agency (CFIA) said on Thursday the wheat containing a genetically modified trait, developed by Monsanto Co to tolerate the Roundup weed-killer, was discovered in Alberta. Health Canada has also concluded the modified wheat does not pose a food safety risk. "This wheat is also not a match for any now registered seed varieties authorized for commercial sale or production in Canada, nor is it present in the Canadian grain or seed supply". (more...)
McDonald's to scrap plastic straws across all United Kingdom and Ireland restaurants
- June 15, 2018

McDonald's will replace plastic straws with paper ones in all its restaurants in the United Kingdom and Ireland, starting from September, the BBC reported on Friday. The restaurant chain uses 1.8 million straws a day in the UK. Burger King, Wagamama and JD Wetherspoon have all ditched plastic straws in the previous year. (more...)
New start-up visa route announced by the Home Secretary New start-up visa route announced by the Home Secretary
- June 15, 2018

The Home Office said more details would be announced "in due course". Speaking at a round table as part of London Tech Week , the Prime Minister revealed that around £2.3bn is set to be added to the United Kingdom economy thanks to new investment. (more...)
SA's unemployment rate heads down in May SA's unemployment rate heads down in May
- June 15, 2018

The participation rate - which measures the percentage of people either in work or seeking work - was steady. The ABS figures come as SEEK said it had 10.7 per cent more job ads in May, compared with the same month a year ago, with resources, government and defence among the sectors experiencing the best growth. (more...)
NSW govt plans new online gambling tax
- June 15, 2018

The amount is less than the 15% applied in Queensland , Western Australia and South Australia . The New South Wales government has announced it will impose a 10 per cent Punters' Tax from the start of 2019, following hot on the heels of Queensland's decision to impose a 15 per cent levy. (more...)
Kellogg's Honey Smacks cereal recalled for possible salmonella Kellogg's Honey Smacks cereal recalled for possible salmonella
- June 15, 2018

You can identify the recalled products by the " Best if Used By Date ", which can be found on the top of the cereal box, or the "UPC code", which is found on the bottom of the packaging. Of those 73, 24 are known to be hospitalized. Of those, 31% have been children under the age of 5, with an alarming 74% admitting they have had contact with either chicks or ducklings a week prior to getting ill. (more...)
Microsoft to take on Amazon Go with own checkout-free retail solution Microsoft to take on Amazon Go with own checkout-free retail solution
- June 15, 2018

Reuters claims that the company is working on technology that would eliminate both checkout and the cashiers that run them from high-street shops. At Amazon Go , shoppers check in by scanning their unique QR code while overhead cameras work with weight sensors in the shelves to precisely track which items they pick up and take with them. (more...)
Verizon Adds New $95 Above Unlimited Plan, Plus Mix and Matching Verizon Adds New $95 Above Unlimited Plan, Plus Mix and Matching
- June 15, 2018

T-Mobile thinks Verizon isn't the only carrier who could use a dictionary. The good news is that if you're reading this on Thursday or Friday, you still have time to take advantage. But only AboveUnlimited provides five one-day TravelPasses each month that can be used in 130 countries. On Thursday, Verizon Wireless officially unveiled its third unlimited plan , what it calls "Above Unlimited ", which will go live on June 18. (more...)
Kentucky Sues Walgreens Claiming Pharmacy Played Role in Opioid Crisis Kentucky Sues Walgreens Claiming Pharmacy Played Role in Opioid Crisis
- June 15, 2018

He also believes the companies should be working to find solutions to the drug epidemic, WLEX-TV reported . The lawsuit alleges Walgreens used misleading, unfair, and deceptive business practices in "excessively" distributing and dispensing opioids in Kentucky. (more...)
The Facebook executive handling the company’s public image is leaving The Facebook executive handling the company’s public image is leaving
- June 15, 2018

To be clear, given the overwhelming number of scandals the company has encountered over the past year and a half, he and Facebook did not meet that challenge. "I've had the incredible opportunity to help build an extraordinary global team of dedicated professionals in policy and communications", Schrage said in a statement posted to his Facebook profile Thursday. (more...)
Donald Trump approves tariffs on about $50 billion of Chinese goods Donald Trump approves tariffs on about $50 billion of Chinese goods
- June 15, 2018

The size of the approved tariffs matches the scale of duties proposed in April, suggesting the president isn't bowing to warnings that trade penalties may derail relations with China as the USA seeks to maintain pressure on North Korea over its nuclear weapons program. (more...)
Mortgage borrowing slides to lowest point since 2014
- June 15, 2018

The slump in mortgage borrowing is a fresh sign that the effect of Canada's new B-20 mortgage stress test rules and higher interest rates are taking hold in the country's housing markets. The debt-to-income ratio hit a record high of 170 per cent in the third quarter of past year. "Developments in the last two quarters are unlikely to change the conversation about household indebtedness in Canada entirely, though they are enough to alter its tone", Royal Bank's Mr. (more...)
Qantas Airbus A380 'nosedives' after wake turbulence from another A380 Qantas Airbus A380 'nosedives' after wake turbulence from another A380
- June 15, 2018

In the right conditions, the vortexes can hang around for more than three minutes. No injuries have been reported as a result of the incident . "It was an absolute sense of losing your stomach and that we were nosediving". An Australian Transport Safety Bureau spokesman told the Australian: "Following our correspondence, the ATSB has made inquiries with the operator (Qantas) and they are voluntarily submitting a notification". (more...)
Trump meets with advisers to push on with China tariffs Trump meets with advisers to push on with China tariffs
- June 15, 2018

President Donald Trump meets China's President Xi Jinping as he arrive for the state dinner with the first ladies at the Great Hall of the People in Beijing on November 9, 2017. The two countries have been trying to negotiate a truce to the trade spat. China also has threatened to retaliate with its own tariff hikes on $50 billion of US exports including pork and soybeans, though authorities avoided renewing that threat following the latest round of talks. (more...)
US Oil Prices Up, Brent Prices Move Lower US Oil Prices Up, Brent Prices Move Lower
- June 15, 2018

Russian production reportedly climbed to 11.1 million bpd in early June. Judging by vehicle sales, demand will continue to grow, with China's May sales of new automobiles standing at 2.29 million, up 9.6 percent from the same month a year ago, according to the China Association of Automobile Manufacturers (CAAM). (more...)
Ethereum spikes after the SEC declares it's not a security Ethereum spikes after the SEC declares it's not a security
- June 15, 2018

Bitcoin , the most valuable digital token, jumped 6.4 percent to $6,662.97 in its biggest rally in over a month. Previously, SEC Chairman Jay Clayton had said that cryptocurrencies like bitcoin are not securities, though the agency had not definitively named any other coins that would be deemed currencies and not securities. (more...)
Oil steadies but threat of higher supply curbs gains Oil steadies but threat of higher supply curbs gains
- June 15, 2018

Saudi Arabia has floated several plans to fellow OPEC members as the kingdom seeks consensus before the meeting in Vienna next week. Brent crude futures, the global benchmark for oil prices, were at $76.46 per barrel at 0046 GMT, down 28 cents, or 0.4 per cent, from their last close. (more...)
US, Mexico and Canada to host 2026 World Cup finals US, Mexico and Canada to host 2026 World Cup finals
- June 14, 2018

Substitute Denis Cheryshev scored twice - the first after a piece of skill that would have graced a Lionel Messi highlights reel - and the second a superb shot in stoppage time. After the show, the tournament's trophy will be revealed by Brazil's two-time World Cup champion Ronaldo just before the official kick off of the opening match. (more...)

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