Business


Debit cards overtake cash payments in the UK Debit cards overtake cash payments in the UK
- June 19, 2018

In the year to December, debit cards overtook cash as the most frequent payment method for the first time in the United Kingdom, a move attributed to the rise in contactless, online shopping and smartphone technology. Stephen Jones, the body's chief executive, said: "The choice of payment options available in the United Kingdom is allowing people to choose to pay the way that best suits them". (more...)
Sandeep Bakhshi to take over as ICICI Bank Wholetime Director, COO Sandeep Bakhshi to take over as ICICI Bank Wholetime Director, COO
- June 19, 2018

The statement further indicated that the CEO and MD of the bank will be on leave until the completion of the independent enquiry in the case. The two momentous decisions that will change the course for India's second largest lender under allegations of partisan loan sanctions, are likely to be announced today after a crucial board meeting, the Economic Times reported. (more...)
Wendy's employees share video of mouse crawling on food Wendy's employees share video of mouse crawling on food
- June 19, 2018

Frame, who says she's worked at the Wendy's location for nearly two years, told KJRH she went public with the video because store managers have not done enough to address what she says is an ongoing problem. Both employees said they've noticed multiple health code violations in the past year and plan to quit if conditions do not improve. "I'm not touching that", one worker says as the camera zooms in on the mouse. (more...)
Tesla’s Musk accuses employee of ‘extensive and damaging sabotage’ to company’s operations Tesla’s Musk accuses employee of ‘extensive and damaging sabotage’ to company’s operations
- June 19, 2018

A company spokeswoman did not respond to requests for comment. Musk said that the employee admitted to committing sabotage after not receiving a promotion. "Could just be a random event, but as Andy Grove said, 'Only the paranoid survive, '" Musk wrote, quoting the former CEO of Intel. "Please be on the alert for anything that's not in the best interests of our company". (more...)
Millennials are the worst when it comes to tipping, says this study Millennials are the worst when it comes to tipping, says this study
- June 19, 2018

According to a new study from creditcards.com, 10% of millennials do not tip at all when eating out. The study was conducted for CreditCards.com by market-research firm GfK, which gathered data last month from 1,000 Americans aged 18 and older. (more...)
Amazon launches Prime service in Australia
- June 19, 2018

A Prime subscription costs $4.99 in Australia with an introductory offer that runs until 31 January 2019 before rising to $6.99. Amazon says around 90 percent of Australians will have access to two-day delivery. Jamil Ghani, vice president of Prime International at Amazon, said Amazon was offering the most extensive set of Prime benefits at launch for any country. (more...)
Trump threatens to slap China with $200 billion in new tariffs Trump threatens to slap China with $200 billion in new tariffs
- June 19, 2018

Trade Representative to identify $200 billion worth of Chinese goods that would be hit with a 10% tariff, according to a statement from the White House. The ECB, which signaled that interest rates would likely remain unchanged at least through the summer of 2019, is holding an event in Sintra, Portugal. (more...)
Trump taps Kathy Kraninger to head Consumer Financial Protection Bureau Trump taps Kathy Kraninger to head Consumer Financial Protection Bureau
- June 19, 2018

While the White House refused to confirm her likely nomination, it has stressed that the administration was seeking somebody with prior government management experience, including on budget issues. She previously worked for the Department of Homeland Security and in various roles on Capital Hill including on the staff of Republican Senator Susan Collins of ME and the Senate Appropriations Committee, which is chaired by Republican Richard Shelby of Alabama. (more...)
Valeant psoriasis treatment rejected by FDA Valeant psoriasis treatment rejected by FDA
- June 19, 2018

The Valeant Pharmaceuticals Intl Inc treatment that was rejected by the FDA is DUOBRII. This is a lotion made by the company's Ortho Dermatologics division to treat plaque psoriasis. Valeant has requested a meeting with the US health agency as it worked toward Duobrii's approval, Papa said on Monday. However, that doesn't change Cantor Fitzgerald's bullish take on the stock: Analyst Louise Chen reiterated an Overweight rating and $32 price target on the shares, as she still expects the ... (more...)
Del Monte veggie trays recalled; parasite outbreak sickens 78
- June 18, 2018

In addition, Del Monte is recalling small veggie trays that include broccoli, cauliflower, carrots, celery and dill dip distributed to IL and IN, the FDA said IN a statement. According to the CDC, the parasite can cause watery diarrhea, loss of appetite, weight loss, cramping, bloating, increased gas, nausea and fatigue. Vomiting, body aches, headache, fever, and other flu-like symptoms may be noted. (more...)
Unilever gets tough with the online influencers Unilever gets tough with the online influencers
- June 18, 2018

The consumer-products giant, which spent more than $9 billion on marketing its brands previous year, said it wouldn't work with influencers who buy followers. Still, it is unclear how Unilever will effectively determine whether or not these influencers purchased followers. Unilever's chief marketing officer Keith Weed spoke out against bad apples lowering trust between consumers and brands. (more...)
Eskom implements stage 2 load shedding Eskom implements stage 2 load shedding
- June 18, 2018

Eskom has warned that the probability of rotational load shedding will increase during the evening peak period from 5pm - 9pm tonight, due to the normal expected increase in demand. Consumers should reduce electricity use to minimise the risk of load-shedding it said, using a local term for rolling blackouts. This followed a second consecutive day of load shedding. (more...)
Tesla Model S catches fire 'out of the blue' Tesla Model S catches fire 'out of the blue'
- June 18, 2018

McCormack said in an accompanying tweet Friday (June 15) that there was "no accident" and the incident was "out of the blue". Lt. Dan Nagelmann, from the Los Angeles County Sheriff's Department, confirmed it was either a battery or mechanical issue that caused the fire and there was no collision at all. (more...)
Contactless payment boom means cash is no longer king
- June 18, 2018

Consumers in the United Kingdom made 13.2 billion payments via debit card in 2017, compared with 13.1 billion using cash. It estimated there were 3.4 million people who did not use cash to pay for things at all a year ago as bank branches continue to decline and free-to-use ATMs also come under pressure. (more...)
Audi CEO detained in diesel emissions case Audi CEO detained in diesel emissions case
- June 18, 2018

Munich prosecutors searched Stadler's private residence last week in their investigation of suspected fraud and indirect improprieties with documents. That has cost it $20 billion in fines and civil settlements. Two managers are serving prison terms in the United States. Volkswagen, which last week agreed to pay a fine of 1 billion euros ($1.2 billion) imposed by German prosecutors, confirmed the arrest. (more...)
These are the three new iPhones you've been hoping for These are the three new iPhones you've been hoping for
- June 18, 2018

Apple has new iPhones due out this September and fresh reports support the rumour that we can expect three new iPhone X handsets, each with different special skills. The base variant of the current-gen iPhone X is retailing for $999. However, no announcement was made regarding the next generation iPhone SE and it was assumed that Apple will introduce the iPhone SE 2 along with the other three iPhones lineup for release this fall. (more...)
Audi CEO arrested over cheating probe Audi CEO arrested over cheating probe
- June 18, 2018

Munich prosecutors, who have been investigating Audi's role in the 2015 scandal, confirmed they arrested Rupert Stadler in the Bavarian capital. "The hearing to determine whether he will be remanded is ongoing", the spokesman stated while also adding that the presumption of innocence applied to Stadler's case. (more...)
Audi CEO arrested: Volkswagen Audi CEO arrested: Volkswagen
- June 18, 2018

Audi and Volkswagen confirmed that Stadler was detained on Monday and said he still had a presumption of innocence. Stadler is the most senior Volkswagen to be arrested over the so-called Dieselgate that came to light in 2015. The emissions scandal first emerged in 2015. Both are suspected of knowing earlier than they have so far admitted about the cheating, meaning they may have failed in their duty to inform investors in the auto giant about the financial risks. (more...)
Audi CEO arrested - Volkswagen
- June 18, 2018

Volkswagen admitted that almost 600,000 cars sold in the USA were fitted with "defeat devices" created to circumvent emissions tests. Stadler was under investigation for malpractice in the emissions cheating scandal at Volkswagen. The emissions scandal first emerged in 2015. Both are suspected of knowing earlier than they have so far admitted about the cheating, meaning they may have failed in their duty to inform investors in the auto giant about the financial risks. (more...)
Google to invest $550 million in Chinese e-commerce giant JD.com Google to invest $550 million in Chinese e-commerce giant JD.com
- June 18, 2018

JD will start selling products on Google Shopping, helping it reach consumers in the US and Europe as it seeks to diversify beyond China's highly competitive e-commerce market. This will give them less than a 1 percent stake in JD, a spokesman for JD said. The firms will marry JD's supply chain and logistics experience with Google technology to create "next generation" personalized retail in regions including Southeast Asia, the U.S. (more...)
Virgin Money bought by Clydesdale bank owner CYBG for £1.7bn
- June 18, 2018

If the deal goes ahead, CYBG and Virgin Money, which was founded nearly 25 years ago by British entrepreneur Sir Richard Branson, would combine to create Britain's sixth largest bank by assets, albeit one still dwarfed by the big five banks. (more...)
Tesco first-quarter sales rise following Booker merger | 15 June 2018 Tesco first-quarter sales rise following Booker merger | 15 June 2018
- June 18, 2018

Associate director at Fidelity Personal Investing, Emma-Lou Montgomery, said: "Forget the "threat" of the Sainsbury's/ Asda merger, the strong performance from the recently-acquired Booker wholesale business suggests Tesco has its eye on far bigger fish". (more...)
Import of iPhones: Apple, Qualcomm legal battle begins Import of iPhones: Apple, Qualcomm legal battle begins
- June 18, 2018

In a recent interview with the publication, the USA semiconductor company's VP said, "XMM 7560 [modem chips are] now in the process of being deployed..." We'll be sure to keep you updated with the latest developments. Keddy said the XMM 7560 modem chip was a "milestone" for her company, as it supports code division multiple access, or CDMA , a type of communications technology. (more...)
Kellogg's Honey Smacks cereal recalled over salmonella risk: AVA Kellogg's Honey Smacks cereal recalled over salmonella risk: AVA
- June 18, 2018

The product recall follows an alert by the United States Food and Drug Administration (FDA) on Thursday, saying that Kellogg Company was voluntarily recalling its 15.3 oz and 23 oz packages of Kellogg's Honey Smacks cereal due to the potential presence of salmonella in the products. (more...)
All inbound flights to Charlotte Douglas Airport being held All inbound flights to Charlotte Douglas Airport being held
- June 18, 2018

This morning, PSA Airlines, an American Airlines regional carrier, experienced a technical issue , which primarily impacted flights to Charlotte. Our team, in coordination with PSA, is working hard to resolve the issue as quickly as possible and take care of our customers by accommodating them on mainline flights or other regional carriers . (more...)

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