Business


AlphaPoint Powers First-Ever XRP-Based Crypto Exchange AlphaPoint Powers First-Ever XRP-Based Crypto Exchange
- August 01, 2018

The rollout is initially in beta, during which time users will be able to fund their accounts with XRP and trade it against fiat and other cryptocurrencies, but they will not be able to withdraw XRP to an external wallet. AlphaPoint also notes that DCEX's high-frequency trading will support arbitrage among currency pairs on different exchanges. The exchange is based on AlphaPoint's distributed ledger, the announcement said. (more...)
China says U.S. ‘blackmail’ won’t work, warns of retaliation on tariffs
- August 01, 2018

Announcing a higher tariff is required ahead of the hearings and will send a signal that the Trump administration is upping the pressure on China to make serious concessions. Trump recently threatened to slap punitive tariffs on all Chinese imports , which accounted for more than $500 billion past year. "Counterintelligence officers say the duo's banking activity could provide a road map of back channels to powerful American entities such as the National Rifle Association, and information ... (more...)
Alaska Airlines Bumps Gay Couple From Premium Seats Alaska Airlines Bumps Gay Couple From Premium Seats
- August 01, 2018

Cooley told the story of how he and his partner were traveling back to LAX from New York's John F. Kennedy International Airport , when Alaska employees asked him to switch seats so a straight couple could sit together. According to the outlet, Cooley has yet to respond to Alaska Airlines' recollection of the alleged encounter. "Thank you to Delta Air Lines for getting us home safe", Cooley added. (more...)
Porsche confirms its Taycan EV will have 600-plus hp Porsche confirms its Taycan EV will have 600-plus hp
- August 01, 2018

The name Taycan might not mean much at the moment, but it certainly will when this production version of the Porsche Mission E concept goes on sale towards the end of next year. When attached to a fast charger, the Taycan's batteries can reportedly be topped up to 400km of range within 15 minutes. There are rumors that there will lower powered models with 400 and 500 hp as well, and that a rear-wheel-drive model may also join the mix. (more...)
Yemen's Houthis ready to halt Red Sea attacks Yemen's Houthis ready to halt Red Sea attacks
- August 01, 2018

An unladen Saudi-owned VLCC crossed the key Bab el-Mandeb strait over the weekend, a few days after the kingdom temporarily halted all its oil shipments through the southern tip of the Red Sea after an attack by Yemeni Houthi militants. Badr al-Khashti, chairman of Kuwait Oil Tanker Company (KOTC), said: "All options are possible but there is nothing confirmed so far". Earlier this month, the alliance called a halt to the offensive in order to give United Nations efforts to reach a ... (more...)
Kroger bans Visa over swipe fees Kroger bans Visa over swipe fees
- August 01, 2018

Foods Co., a California' subsidiary of the OH based grocery chain, says it will no longer accept Visa at its locations starting August 14. According to Bloomberg , Kroger is preparing to battle Visa and other credit card companies over fees that the grocery store pays for in swipe fees every year. (more...)
Chipotle stock drops after OH restaurant closes due to sick customers
- August 01, 2018

The Delaware County health department received hundreds of calls complaining of symptoms attributed to eating at the restaurant. In a statement, Chipotle says it closed the store Monday "out of an abundance of caution" and that it's cooperating with local health authorities. (more...)
Dixons Carphone Admits Last Year's Hack Was Bigger Than it Realised Dixons Carphone Admits Last Year's Hack Was Bigger Than it Realised
- August 01, 2018

Hackers attempted to obtain the bank details from one of the processing systems of Currys PC World and Dixons Travel stores, and may have accessed personal customer data, including names, addresses and email addresses. 'Again, we're disappointed in having fallen short here, and very sorry for any distress we've caused our customers. "These days the public care a lot about how their data is handled and by whom, and they want organizations to be more proactive in managing that data, so the ... (more...)
OnePlus 6 sales helped OnePlus beat Samsung in India’s premium market
- August 01, 2018

The growth is primarily in the sub-INR 40,000 (~$583) category where OnePlus and other smaller brands have positioned their products. As per the latest data from Counterpoint Research , OnePlus reportedly surpassed Samsung to emerge as India's leading premium smartphone brand in Q2 2018. (more...)
United States Hints At 25% Tariff On Chinese Goods Worth $200 Billion
- August 01, 2018

While the conflict nominally centers around the US's $375 billion annual goods trade deficit with China, it has morphed into a chapter in the nations' broader strategic rivalry. Beijing responded by imposing the same penalties on the same amount of US imports. "Counterintelligence officers say the duo's banking activity could provide a road map of back channels to powerful American entities such as the National Rifle Association, and information about the Kremlin's attempt to sway the 2016 ... (more...)
Daily Mirror publisher slumps to 113.5 million pounds… Daily Mirror publisher slumps to 113.5 million pounds…
- August 01, 2018

Reporting its first half-yearly results since the group bought the Express & Star newspapers from Northern & Shell Media in February, the company warned there was now "greater uncertainty" for its regional titles over the medium term. The overall United Kingdom national tabloid newspaper market declined by 9.3% in the period. This compared to a 10.4% overall fall for the United Kingdom national Sunday tabloid market. (more...)
MoviePass Raising Prices And Limiting Availability For Big New Releases
- August 01, 2018

Tickets for these films will be limited during the first two weeks they run unless the studio behind the film offers a special promotion. Over the last few months, the company has been trying to find ways to stay afloat, all of which have angered a lot of its users: increasing prices, instituting surge pricing , requiring users to take a picture of their ticket to cut down on fraud. (more...)
Ryanair boss waives bonus after flights grounded Ryanair boss waives bonus after flights grounded
- August 01, 2018

Ryanair boss Michael O'Leary waived his hefty yearly bonus for 2017-2018 following the flight cancellations crisis that gripped the Irish carrier previous year. In addition, Ryanair was forced to cancel a further 600 flights last week due to two days of cabin crew strikes in Spain, Italy, Portugal and Belgium. (more...)
Wisconsin's first sales tax holiday begins August 1 Wisconsin's first sales tax holiday begins August 1
- August 01, 2018

The holiday comes with plenty of strings attached. You're in luck, because this year's Virginia sales tax holiday is coming up. Items to help Virginians prepare for and recover from all hazards, including hurricanes, floods, and tornadoes include: batteries, light sources, radios, miscellaneous items, chain saws, portable generators and Energy Star and WaterSense products . (more...)
McScam: Report details how McDonald's Monopoly game was fixed by ex-cop McScam: Report details how McDonald's Monopoly game was fixed by ex-cop
- August 01, 2018

As the head of security for Simon Marketing, the company responsible for running the promotion, Jacobsen was the man entrusted with transporting those pieces from the printing plant to the packaging factories, where they would be randomly attached to McDonald's cups and cartons. (more...)
Adult-dose EpiPen expected to be in short supply during August: Pfizer Adult-dose EpiPen expected to be in short supply during August: Pfizer
- August 01, 2018

According to Health Canada , while some pharmacies may now have some supply on-hand, it will likely be depleted in the coming days or weeks. Manufacturer Pfizer has informed Health Canada that the Adult-dose EpiPen (0.3 mg) is expected to be very limited at pharmacies and will likely be depleted in the coming days or weeks. (more...)
Deutsche Bank shifts large part of euro clearing to Frankfurt from London Deutsche Bank shifts large part of euro clearing to Frankfurt from London
- August 01, 2018

As reported by Deutsche Welle (DW), Germany's worldwide broadcaster, Deutsche Bank is one of the five largest clearers of interest derivatives and their tilt toward Frankfurt is a boost to the financial services market in Germany, which is in line to take significant business from London, depending on how the Brexit cards ultimately fall. (more...)
Binance to purchase cryptocurrency wallet company Binance to purchase cryptocurrency wallet company
- August 01, 2018

Trust Wallet is an on-chain wallet, where user private keys are decentralized, ie, stored on user devices. The acquisition, Binance's first, is aimed to provide a better service and enhanced safety for its users, who now transfer their funds to external wallets, the Hong Kong-based exchange said on Tuesday. (more...)
Foxtons pushed into red by 'weak' London sales market Foxtons pushed into red by 'weak' London sales market
- August 01, 2018

In news that's unlikely to bring a tear to every Londoner's eye, Foxtons reported a loss for the first half of the year. Why? The agency, best known for its heavily branded Mini Coopers and steep commission charges, sold only 1,188 properties in the first half - down by a quarter from the same period past year. (more...)
RBI monetary policy: Repo rate hiked by 25 bps
- August 01, 2018

Still, a sizable numbers of analysts and market participants believe the RBI could hold off and not hike interest rates, noting that the recovery is nascent and bank credit to corporates is not yet free flowing. The monetary policy committee "could afford to do a "wait and watch" at this juncture and consider more data points before a rate action", said Lakshmi Iyer, Kotak Mutual Fund's chief investment officer debt. (more...)
RBI increases repo rate by 25 bps to 6.50%
- August 01, 2018

The move will make the home loans dearer and will have direct impact on the borrowers as the rate hike will lead to banks raising their interest rates in loans. This was the first time since October 2013 that the central bank hiked the repo rate -- the rate at which it lends to commercial banks -- at two consecutive policy meetings. (more...)
Commonwealth Bank Claims Success in Global Trade Blockchain Trial Commonwealth Bank Claims Success in Global Trade Blockchain Trial
- August 01, 2018

A landmark trade involving US -based Wells Fargo has already seen the CBA involved in an interbank open account transaction of a shipment of cotton between Australia and the United States in 2016. " This level of data provided partners in the supply chain with a greater level of transparency and efficiency regarding the location, condition and authentication of the goods being transported ", the bank said in the release. (more...)
Durex recalls condoms over concerns they could burst Durex recalls condoms over concerns they could burst
- August 01, 2018

All condoms have an expiry date after which the company can not guarantee they'll do the job they're supposed to, but Durex have recalled these particular batches, sold in the United Kingdom and Ireland, after they failed "stringent" shelf life tests. (more...)
BMW to build auto plant in Hungary for 150,000 units a year BMW to build auto plant in Hungary for 150,000 units a year
- August 01, 2018

BMW did not specify which models would be manufactured in Hungary but said the new factory will help to expand its manufacturing footprint in Europe, a market where it sells 45 percent of its cars. Outside of Europe, BMW is expanding production in China and is due to open a new factory in Mexico next year. Additionally it was lured by the site's good infrastructure, logistics connections, and physical proximity to an establisher supplier base. (more...)
Oil extends decline after biggest monthly slump in two years
- August 01, 2018

October Brent crude futures fell $1.34 to settle at $74.21 a barrel. The September contract expires later on Tuesday. S. crude futures fell $1.37, or almost 2 percent, to settle at $68.76.Brent lost more than 6 percent in July, while U. Signs that a supply disruption in the Bab al-Mandeb Strait in the Red Sea could be resolved weighed on prices throughout the trading session, said John Kilduff, partner at Again Capital Management in NY. (more...)

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