Business


Trump pushes for speedy NAFTA renegotiation in letter to Mexico Trump pushes for speedy NAFTA renegotiation in letter to Mexico
- July 27, 2018

Ottawa is requesting a NAFTA review of US tariffs targeting Canada's solar power industry under the so-called Chapter 20 dispute settlement provisions of the free trade agreement between Canada, the United States and Mexico, the federal government announced Monday. (more...)
Spotify sees 8 million rise in subscribers amid ongoing battle with Apple Spotify sees 8 million rise in subscribers amid ongoing battle with Apple
- July 27, 2018

The world's largest music streaming service continues to grow at a healthy pace in terms of both paid and free subscribers, although there's no chance that's going to generate a profit anytime soon. Revenue growth, however, was slowed by new European data privacy rules that require users to give explicit consent for certain uses of their information. (more...)
Ian Austin: Shame over Labour's 'tolerance' of anti-Semitism Ian Austin: Shame over Labour's 'tolerance' of anti-Semitism
- July 27, 2018

Asked if she thought the disciplinary inquiry into Ms Hodge would take place, she said: "I just can't see a situation where we discipline people for speaking their minds to each other, whether it's members of the shadow cabinet or the leader of the opposition himself". (more...)
Facebook to open new offices for 6,000 employees Facebook to open new offices for 6,000 employees
- July 26, 2018

However, details show that the office space Facebook has secured could house up to 6,000 separate work stations. The amount of office space leased by technology, media and telecom firms in central London a year ago was 25 per cent higher than the long-term average, according to broker Knight Frank. (more...)
EU commissioner suggests broad cuts to tariffs with U.S. EU commissioner suggests broad cuts to tariffs with U.S.
- July 26, 2018

Relations between the the two sides have reached breaking point over recent weeks, with the meeting coming less than two weeks after Mr Trump called the European Union a "foe" after complaining about higher duties applied by the European Union on vehicle imports. (more...)
Canadian Company Will Brew First-Ever Beer Made Entirely from Cannabis Canadian Company Will Brew First-Ever Beer Made Entirely from Cannabis
- July 26, 2018

Now, the Toronto-based startup is in a race against established drinks giants and to launch its new weed-inspired product when Canada officially legalises regulated use of the drug later this year. Top companies Canopy and Aurora are estimated to be worth about $6.7 billion and $3.8 billion respectively. Canada is set to become the second country to legalize marijuana for recreational use on October 17. (more...)
Ryanair have announced even more flight cancellations for next week Ryanair have announced even more flight cancellations for next week
- July 26, 2018

The low-priced airline is claiming it does not need to compensate customers as it cancels hundreds of flights due to a strike by pilots and cabin crew across Europe. Meanwhile, a second day of strikes by Ryanair cabin crew is under way in Spain, Portugal and Belgium. European Union law states passengers can expect €250 in compensation, on top of a refund or new flight, when short-haul flights are cancelled. (more...)
German industry warns USA auto tariffs not completely off table yet German industry warns USA auto tariffs not completely off table yet
- July 26, 2018

President Trump and European Commission President Jean-Claude Juncker said Wednesday that they have agreed to work toward removing all trade barriers between the two sides. But Trump has form in doing U-turns, and U-turns on U-turns, on his own commitments. In addition, the European Union has made a commitment to buy United States soybeans and natural gas. (more...)
Trump should give federal aid to newspapers, too Trump should give federal aid to newspapers, too
- July 26, 2018

The Nixon administration in 1973 embargoed exports of soybeans and cottonseed to shield U.S. meat producers from skyrocketing costs for feed. And former President Jimmy Carter in 1980 blocked USA grain exports to the Soviet Union to punish the country for its military occupation in Afghanistan. (more...)
Qualcomm's $44 billion NXP offer deadline passes, no word from China Qualcomm's $44 billion NXP offer deadline passes, no word from China
- July 26, 2018

China was the lone holdout. With no answer from China's Ministry of Commerce as the deadline passed on Thursday morning, it was clear that the merger was officially dead. The following month, the Trump administration imposed a crippling ban on Chinese smartphone and telecommunications company ZTE , preventing it from buying crucial parts from American companies. (more...)
Oil rises as Saudi Arabia vows to maintain supply Oil rises as Saudi Arabia vows to maintain supply
- July 26, 2018

EIA also reported on Wednesday that USA oil production reached 11 million barrels per day during the week ending July 13 for the first time in the history. Shortly after indications grew that Saudi Arabia had increased its production of crude oil in response to a call to the same effect by U.S. President Donald Trump , concerns are reportedly surfacing in the kingdom that the taps may have been turned open too quickly. (more...)
Oil prices rise as Saudi Arabia suspends shipments through Red Sea lane Oil prices rise as Saudi Arabia suspends shipments through Red Sea lane
- July 26, 2018

The coalition said in a statement carried by Saudi state media on Wednesday that the Houthi movement had attacked one oil tanker west of Yemen's Hodeidah port, but did not name the vessel or describe how it was attacked. "We reaffirm that those, who threaten worldwide peace and security and expose the Red Sea security to great risks, are the US-Saudi aggression forces and their crimes and siege against the Yemeni people", it added. (more...)
China says threats, intimidation on trade will never work China says threats, intimidation on trade will never work
- July 26, 2018

Some market participants though were skeptical of the long-term impact of Trump's remarks. Trump's comments also hit the greenback .dxy , which was last down 0.2 percent at 94.25 against a basket of six major peers, and steepened long-term Treasury yields. (more...)
4-Day Work Week Increased Productivity at New Zealand Firm 4-Day Work Week Increased Productivity at New Zealand Firm
- July 26, 2018

As you might guess, employees were much happier working four days a week than they were with five. Although the employees reported an improved quality of life, with less stress and more time to spend with their families, it was also an expensive experiment for the local council who had to hire extra workers to make up for the shortfall in hours. (more...)
Marchionne said to have died of cardiac arrest
- July 26, 2018

However, in February that year, Marchionne sparked controversy when he commented that loans to Chrysler from the United States and Canadian governments had been made at "shyster rates", a comment deemed to carry antisemitic connotations. (more...)
USDA commits $12B for farmers, ranchers affected by tariffs USDA commits $12B for farmers, ranchers affected by tariffs
- July 26, 2018

The two leaders diffused what had threatened to become a trade war between the two blocs, fuelled by tariffs set by Mr Trump on European steel and aluminium exports, and threats to expand the tariffs to cars . farmers. The rural advocacy organisation's vice president Andrew Hoggard said the conflict was a worry for trading countries like New Zealand which depended on a consistent rules-based trading system. (more...)
Korea begins dismantling rocket test site Korea begins dismantling rocket test site
- July 26, 2018

Satellite images of the Sohae station seen by US-based monitoring group 38 North suggest Pyongyang is complying with a promise made to the U.S. in June. Trump did not identify the location of the site, but USA officials later confirmed it was at Sohae. "Easing the missile threat would require restrictions on the number, types, or capabilities of missiles or the vehicles that transport and fire them". (more...)
Next iPhone colors may include flash yellow and taupe - but no red Next iPhone colors may include flash yellow and taupe - but no red
- July 26, 2018

A new report suggests that the most affordable of 2018's iPhones, the 6.1-inch LCD screen device will come in a variety of bright, flashy and no doubt adventurous color options. The latter of which is also said to be the first phone to get "wacky" colour schemes - the likes of which Apple has avoided since its last cheap and cheerful handset: the iPhone 5c . (more...)
Trump administration announces $12 billion 'bailout' for farmers Trump administration announces $12 billion 'bailout' for farmers
- July 26, 2018

European Trade Commissioner Cecilia Malmstrom, who will accompany Juncker, said last week that the EU was preparing a list of US products to hit if the United States imposed the tariffs. "You've got to treat everybody the same". "Our farmers have been in nonstop, saying they want trade, not aid, and now they're being put on welfare", Sen. (more...)
Facebook shares slide as it disappoints on revenue, active users Facebook shares slide as it disappoints on revenue, active users
- July 26, 2018

Facebook had said it planned to spend more heavily as it responded to criticism of how it monitors content, tracks advertisers and protects user data. "It appears that stronger Instagram performance (according to our checks) was not enough to offset some of the core app headwinds", said Colin Sebastian, analyst at Robert W. (more...)
BoJ policy tweak prospects jolt Japanese markets BoJ policy tweak prospects jolt Japanese markets
- July 25, 2018

The market moves were responding to possible changes in BoJ policy which could include adjusting the current cap on bond yields, which targets zero on the 10-year Japanese government bond and negative short-term rates, as well adjusting its bond and equity purchases, Reuters reported. (more...)
Waymo launching pilot program with Walmart Waymo launching pilot program with Walmart
- July 25, 2018

Google spinoff Waymo is launching a pilot program with Walmart later this week that will allow customers to use its self-driving auto service to pick up groceries at Walmart stores. The deal will be geared towards delivering a "VIP experience for visitors to Phoenix". Having worked on self-driving cars since 2009 and with 5 million miles (8 million km) driven on public roads under its belt, Waymo is generally considered to be ahead of rivals in the development of autonomous vehicle ... (more...)
Iran's Top Commander: U.S. Will Regret Triggering 'Unimaginable' Response from Tehran
- July 25, 2018

Iranian President Hassan Rouhani said Wednesday that the country does not need to trade barbs with President TrumpDonald John Trump2 women win Georgia Dem runoffs, extending streak for female candidates Giuliani on Trump-Cohen audio: "I've dealt with much worse tapes than this" Roseanne to sit down with Hannity in first television interview since ABC canceled show MORE , but instead should respond with action. (more...)
ITV revenues increased on the back of World Cup and Love Island ITV revenues increased on the back of World Cup and Love Island
- July 25, 2018

The paid-for subscription service, free from ads, would help ITV wean itself off its reliance on United Kingdom advertising income, which has grown weaker amid an "uncertain market environment" as certain firms rein in their marketing spend. (more...)
Ryanair directly employed Irish pilots call fourth one-day strike Ryanair directly employed Irish pilots call fourth one-day strike
- July 25, 2018

Ryanair said the 50,000 customers affected by the cancellation of 600 flights over the two days were given alternative seats or offered full refunds. Ryanair has cancelled some 300 flights across Europe today as its cabin crew began a two-day strike across Spain, Italy, Portugal and Belgium. (more...)

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