Business


Molson Coors wants to sell pot-infused drinks in Canada
- August 02, 2018

After talking with several potential partners, Molson Coors chose Hydropothecary because of its research and development capabilities, its loyal customer base and its strong brand, he said. ET Wednesday. Hydropothecary jumped 17 percent to C$4.98 at 9:50 a.m.in Toronto, while Molson Coors Canada stock rose 1.1 percent. "They're bringing capability as a Fortune 300 company that quite frankly no cannabis company even comes close to replicating", St. (more...)
Google to launch a censored version of search engine in China: Rpt
- August 02, 2018

Google is testing a mobile version of its search engine that would adhere to China's strict controls over content, a person familiar with the matter said, indicating renewed interest in a market that the Alphabet Inc. We want as many people in the world as possible to have access to our services, including users in mainland China, yet the Chinese government has been crystal clear throughout our discussions that self-censorship is a non-negotiable legal requirement... (more...)
Oil prices drop on oversupply concerns as OPEC output increases in July
- August 02, 2018

Data from the American Petroleum Institute showed domestic crude inventories rose by 5.6 million barrels last week. Analysts had expected a decrease of 2.8 million. OPEC production rose in June, led by Saudi Arabia, and reached a 2018 high in July, a Reuters survey found on Monday, although declines from Iran, facing US sanctions, and other producers limited the increase. (more...)
Fed keeps key rate unchanged while signalling future hikes
- August 02, 2018

Odds for a rate hike at the central bank's September 25-26 meeting held around 80 per cent. "In view of realized and expected labor market conditions and inflation, the Committee chose to maintain the target range for the federal funds rate at 1-3/4 to 2 percent", the Fed said in a statement. (more...)
Man charged after seizure of $1 million worth of fake transit passes Man charged after seizure of $1 million worth of fake transit passes
- August 02, 2018

Calgary police have charged a man with trafficking fake Calgary transit passes. Calgary Transit superintendent Brian Whitelaw said the UPASS is only available to students at post-secondary students at Calgary institutions and are included in students' school fees. (more...)
House of Fraser's new owner issues profit warning
- August 02, 2018

The Newcastle United owner controls an 11.1 per cent stake in House of Fraser and a near-30% stake in Debenhams. The extra cash has already been delayed due to the legal challenge to House of Fraser's company voluntary arrangement (CVA), through which it had planned to close 31 of its 59 stores. (more...)
Japan's central bank keeps policy steady Japan's central bank keeps policy steady
- August 02, 2018

Japan's benchmark 10-year yield sank four basis points to 0.062%, the lowest in more than a week. At a two-day rate review that ended on Tuesday, the BOJ chose to maintain its short-term interest rate target at minus 0.1 percent and a pledge to guide 10-year government bond yields around zero percent by a 7-2 vote. (more...)
Wells Fargo pays $2.1 billion fine over subprime mortgages Wells Fargo pays $2.1 billion fine over subprime mortgages
- August 02, 2018

The bank allegedly knew that the loans "contained misstated income information and did not meet the quality that Wells Fargo represented", the department said . In a separate statement, Wells Fargo CEO Tim Sloan said the bank was "pleased to put behind us these legacy issues regarding claims related to residential mortgage-backed securities activities that occurred more than a decade ago." said Wells Fargo CEO Tim Sloan. (more...)
Three men arrested for hacking over 100 US companies Three men arrested for hacking over 100 US companies
- August 02, 2018

Losses totaled in the tens of millions of dollars. "Protecting consumers and companies who use the internet to conduct business - both large chains and small "mom and pop" stores - is a top priority for all of us in the Department of Justice", said U.S. (more...)
350+ sickened after eating at Powell Chipotle
- August 02, 2018

The Delaware General Health District and the fast casual Mexican grill continue to investigate. Chipotle shut the restaurant on Monday after it received complaints of illness from two customers, Laurie Schalow, the company's chief communications officer, said in an email. (more...)
China warns against blackmail as Donald Trump considers higher tariffs
- August 02, 2018

The list named more than 6,000 items worth $200bn in annual trade, including chemicals, textiles, minerals and consumer goods ranging from baseball gloves to frozen fish fillets. In July, it accused the USA of bullying and warned it would hit back. The higher tariff rate, if implemented, would apply to a list of goods valued at US$200 billion identified by the USTR last month as a response to China's retaliatory tariffs on an initial round of USA tariffs on US$34 billion worth of Chinese ... (more...)
WhatsApp Finally Begins Generating Revenue by Charging Businesses
- August 02, 2018

Facebook paid $19bn to buy WhatsApp in 2014 and there has always been speculation about how Facebook meant to make money from it. "You will continue to have full control over the messages you receive", Facebook promised WhatsApp users. Additionally, to help prevent users from receiving floods of messages, WhatsApp is making it so that companies have to pay for certain kinds of messages sent to their clients, forcing them to be more selective. (more...)
Pizza delivery guy wows MI family with piano performance
- August 02, 2018

Dudal, who said he's self-taught, wowed the family by playing the third movement of Beethoven's "Moonlight" sonata from memory, the Post reports. Varchetti's husband invited him to play and then recorded his incredible talents. Julie Varchetti said her husband ordered Hungry Howie's Pizza for dinner Wednesday night for their family. She said the delivery guy noticed the piano and "kindly asked if he could play for a (second)". (more...)
Reddit says hackers accessed user data in June breach Reddit says hackers accessed user data in June breach
- August 02, 2018

While the attack was serious, hackers didn't manage to get much of value aside from some users' email addresses and some hashed email and password combinations from a 2007 database backup. Even if Reddit doesn't notify you and you have been using the same password since 2007, it is probably better to reset it anyway, since by now it may have made its way to a number of dumped databases. (more...)
Vancouver files to expropriate Regent, Balmoral hotels Vancouver files to expropriate Regent, Balmoral hotels
- August 02, 2018

The City said that Balmoral was closed in June 2017, and the Regent was closed in June 2018, both due to decades of underinvestment and mismanagement by the building owners resulting in structural and life-safety concerns. Following the notices of expropriation, the building owners have a month to request an inquiry. "We need to help the city follow through on this commitment", she said. (more...)
Tesla posts $717m loss yet beats revenue predictions Tesla posts $717m loss yet beats revenue predictions
- August 02, 2018

It reached its goal of making 5,000 Model 3 sedans a week "multiple" times in July, and aimed to produce 50,000 to 55,000 in the third quarter. CEO Musk is under particular scrutiny after his comments during a May earnings call in which he rebuked analysts for asking "boring, bonehead" questions . (more...)
China warns of retaliation if USA takes more trade steps
- August 02, 2018

Aerial view of containers at a loading terminal in the port of Hamburg, Germany August 1, 2018. "Regrettably, instead of changing its harmful behavior, China has illegally retaliated against USA workers, farmers, ranchers and businesses", Lighthizer said in a statement. (more...)
US slaps sanctions on Turkey ministers over detained pastor US slaps sanctions on Turkey ministers over detained pastor
- August 02, 2018

In an unprecedented escalation in US-Turkey relations, the Trump administration sanctioned senior Turkish officials involved in the detention of US pastor Andrew Brunson. The spat over the pastor has stoked tensions between the two governments already quarreling over Washington's support of a Syrian Kurdish militia. In a tweet translated by the state-run Anadolu news agency , Cavusoglu also vowed that the "US attempt to impose sanctions on our two ministers will not go unanswered". (more...)
Google to launch censored version of search engine in China
- August 02, 2018

According to the whistleblower, the new search engine is being built as an Android mobile app. The project, apparently code-named Dragonfly, has been in development since last spring. Google's Chinese search app will automatically identify and filter websites blocked by the Great Firewall . "We also made clear that these attacks and the surveillance they uncovered-combined with attempts over the previous year to further limit free speech on the web in China including the persistent ... (more...)
Loans to get costlier as RBI hikes repo rate again
- August 02, 2018

It may be noted that the central bank raised repo rate by 25 bps to 6.25 per cent in June, marking the first hike by the MPC in the last four years. It is nearly always State Bank of India (SBI)-the country's largest lender-that leads the rate hike/cut cycle with other banks following suit. Risks to growth are increasing, and inflation is probably on a downward trajectory after peaking in June. (more...)
Trump administration confirms plan to raise China import tariff to 25 percent
- August 02, 2018

While Treasury Secretary Steve Mnuchin has attempted to work out a deal with Beijing, other officials such as Lighthizer have taken a much tougher stance, he says. While the tariffs would not be imposed until after a period of public comment ends on September 5, a senior administration official said that Trump "remains open to conversations", and that the administration is "in contact with our Chinese counterparts". (more...)
Burnham: Rail services in the north 'going down the pan' Burnham: Rail services in the north 'going down the pan'
- August 02, 2018

Northern Rail had earlier slashed almost 170 services a day - 6 per cent of its total - in early June. While services in Manchester, Merseyside and Lancashire have partially resumed, all trains on the Lakes Line in Cumbria are still being reinstated. (more...)
$50bn wiped off the USA tech titans as Wall Street investors fret $50bn wiped off the USA tech titans as Wall Street investors fret
- August 01, 2018

Apple , which was trading higher premarket, fell 0.5 per cent and is due to report earnings tomorrow after the bell, the only one of the so-called FAANG group that is yet to report. USA stocks were set to open higher on Monday after a strong earnings report from Caterpillar, a bellwether for global economic activity, restored optimism that the ongoing trade war would not hit corporate results more than feared. (more...)
Salad, wrap products sold at Kroger, Walgreen’s recalled
- August 01, 2018

In a statement , Trader Joe's said no illnesses have been reported in connection with its products, and specified that they were sold only in Midwest stores. A list of the affected products can be seen here and here. "Illnesses might not have been reported yet due to the time it takes between when a person becomes ill and when the illness is reported", the alert reads. (more...)
National Avocado Day Deals: Free Guacamole At Chipotle & More Epic Discounts National Avocado Day Deals: Free Guacamole At Chipotle & More Epic Discounts
- August 01, 2018

Unfortunately their servers couldn't keep up when lunch time rolled in on the East Coast. It's National Avocado Day, and it's causing a little drama in the world of burrito lovers. (more...)

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