Business


Some Aussies missing out on fast broadband Some Aussies missing out on fast broadband
- August 02, 2018

Percentage of NBN plan speed (downloads) delivered during busy periods. Telstra's speeds dropped 8.2 percent to 79.9 percent of maximum speeds, TPG fell 5.1 percent to reach 85.6 percent and iiNet slid 5.2 percent to hit 83.4 percent. (more...)
Time for 2nd India rate hike as inflation risks mount Time for 2nd India rate hike as inflation risks mount
- August 02, 2018

At the time of revising upwards its projection for the fiscal's first half during the June policy review, RBI Governor Urjit Patel noted that inflation had remained above the central bank's medium-term target of 4 per cent for more than six months. (more...)
Facebook third-party app audit deadline looms, threatens API cut-off Facebook third-party app audit deadline looms, threatens API cut-off
- August 02, 2018

As for the active apps that haven't submitted to the review, they will be "proactively" queued for review, and those that don't reply to questions will have their access to the API cut off. "If we don't hear back within that timeframe, we will remove the app's access to APIs that require approval". Facebook's announcement came on the same day the company said it removed 32 accounts, possibly linked to Russian Federation, that were attempting to disrupt United States politics in advance of ... (more...)
Sacre blue! French come up with a natural turquoise-coloured wine Sacre blue! French come up with a natural turquoise-coloured wine
- August 02, 2018

She explained that the wine gets its colour at the "maceration" stage when it is filtered through a pulp of red grape skins containing anthocyanins. French entrepreneur Rene Le Bail is responsible for the new wine, which is now being produced in Almeria, Spain , after he initially struggled to gain a foothold with his compatriots in France. (more...)
Will the ongoing rate hike cycle be a shallow one?
- August 02, 2018

Crashing out of the bloc without a deal could require the United Kingdom central bank to slash interest rates and introduce emergency measures in an effort to steady the financial system and wider economy. It thinks unemployment can't fall below 4.25% without wage inflation, and its forecast is for the jobless rate to dip below 4% next year. Mr Brown believes the economy has performed in line with the Bank's last forecasts in May, when it backed off from a widely anticipated hike to wait ... (more...)
Square Earned $37 Million From Bitcoin Trading in Q2
- August 02, 2018

Wall Street was looking for earnings of 12 cents a share on revenue of $367.6 million. Gross payment volume rose 30% Y/Y to $21.4B. GPV from larger sellers, defined by Square as merchants generating more than $125,000 in annualized revenue, grew 42 percent year over year, attributing 50 percent of GPV for the quarter. (more...)
Higher interest on fixed deposits for NRIs after RBI rate hike
- August 02, 2018

It indicates that although interest rates are now on the rise, they are highly unlikely to hit pre-crisis levels of above 5% for the foreseeable future. "Given these developments, a 0.25 percentage point increase in Bank Rate was warranted at this meeting to return inflation sustainable to the target". (more...)
Centrica loses 340,000 customers as profits drop Centrica loses 340,000 customers as profits drop
- August 02, 2018

A nationwide cold snap, with temperatures as low as minus 10.3 degrees Celsius, hit Britain earlier this year, leading gas prices to spike to at least 10-year highs and electricity prices to soar more than 20 percent. Centrica said higher commodity prices helped to swell earnings from its exploration and production (E&P) division which is now fully focused on North West Europe following the disposal of assets in Canada and Trinidad and Tobago in 2017. (more...)
UAE increases petrol prices for August UAE increases petrol prices for August
- August 02, 2018

The ministry said the government's policy for price stability in fuels has ensured that over the past 82 weeks, petrol in Malta was 6c cheaper than the European Union average, while diesel was 7c cheaper. Earlier in July, some economists had predicted another significant fuel price hike for August - based on the weaker Rand against the US Dollar. Brent fell more than 6 per cent in July, while United States crude futures slumped about 7 per cent, the biggest monthly decline for both ... (more...)
OnePlus controlled 40% of Indian premium smartphone mkt in Q2, beat Samsung OnePlus controlled 40% of Indian premium smartphone mkt in Q2, beat Samsung
- August 02, 2018

It points out that the arrival of Huawei in the second position marks the first quarter since 2Q10 where Apple has not been the number one or two smartphone company in terms of market share. That may seem a bit low for a premium segment, but its partly because OnePlus and others are aggressively pushing high-end phones below the INR 40,000 mark and are skewing the market. (more...)
McDonald's accidentally serves pregnant Canadian woman cleaning fluid in latte McDonald's accidentally serves pregnant Canadian woman cleaning fluid in latte
- August 02, 2018

The first sip was enough to tell Ms Douglas that something was wrong with the drink. The mother said she then took off the lid and was hit by the "pungent smell of chemical". While she's expected to be OK, Douglas said she's made a decision to come forward in hopes that something like this doesn't happen again. It's her hope that this experience shines a light on the need to train employees properly when it comes to food safety procedures, and that no children will inadvertently ingest ... (more...)
United Kingdom auto industry warns: No deal Brexit is not an option United Kingdom auto industry warns: No deal Brexit is not an option
- August 02, 2018

The SMMT reported that the output of United Kingdom auto plants had declined by 5.5% in June (to 128,799) as "a flawless storm of events" hit production for the United Kingdom - the number of vehicles destined for the home market down 47.2% during the period. (more...)
USA considering higher tariffs on US$ 200 bil. of Chinese goods
- August 02, 2018

In early July, the US government imposed 25-percent tariffs on an initial $34 billion of Chinese imports . Beijing retaliated with matching tariffs on the same amount of USA exports to China. Camuñez notes that the Trump administration has given mixed signals about how tough it's willing to be with China, and that has complicated efforts to resolve the conflict. (more...)
Sterling near one-week lows before Bank of England vote Sterling near one-week lows before Bank of England vote
- August 02, 2018

A bank employee counts pound notes at Kasikornbank in Bangkok, Thailand October 12, 2010. After falling to its lowest level in 10 months earlier in July on growing worries that Britain was headed for a cliff-edge departure from the European Union, sterling has found its feet and traded higher in recent sessions. (more...)
RBI increases key rate to 6.5% on inflation worries
- August 02, 2018

One basis point is equivalent one-hundredth of a percentage. Today's hike in interest rates will make loans more costlier in the coming days. This is the first time since October 2013 that the rate has been increased in consecutive policy meetings. (more...)
Leaked document shows Google's plans for its censored search engine in China
- August 02, 2018

The project has been underway since the fall of 2017 and has been demonstrated to Chinese officials at CES in January. After exiting China 8 years ago due to censorship and hacking, Google is tuning a mobile search app that would filter blacklisted search results in order to re-enter the market, according to USA media reports. (more...)
RBI rate setting panel starts 3-day meet RBI rate setting panel starts 3-day meet
- August 02, 2018

The Reserve Bank of India's six-member credit policy panel, headed by governor Urjit Patel and three external experts, is expected to keep its key interest rates unchanged at the monetary policy review scheduled in August, a report by HDFC Bank revealed on Friday. (more...)
Oil Prices Drop as U.S. Inventory Grows Oil Prices Drop as U.S. Inventory Grows
- August 02, 2018

USA crude futures CLc1 were down 44 cents, or 0.6 percent, at $68.32 a barrel, having dropped almost 2 percent on Tuesday. Volumes in an expiring contract tend to dwindle in the last few days before it goes off the board. Production of crude oil is expected to stay at record highs for the time being despite pipeline constraints in the Permian-the top performer in the US oil patch. (more...)
Heineken cuts full-year margin guidance after profit falls short Heineken cuts full-year margin guidance after profit falls short
- August 02, 2018

She added that Heineken now believed Brazilian margins could climb to company-average levels. "If you're an optimist, you'd say a lot of the first-half weakness is from one-offs and high growth in Brazil is a long-term positive, but then you need to do much better in the second half to hit the revised guidance", he said. (more...)
RBI hikes lending rate, loans likely to become dearer RBI hikes lending rate, loans likely to become dearer
- August 02, 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. The current rate hike comes on the back of rising crude oil prices, hike in the MSP for paddy by a record Rs 200 per quintal, rupee depriciation against the United States dollar, impact of HRA revision of inflation and recent farm loan waivers. (more...)
Thomas Cook blames heatwave as downgrades profits Thomas Cook blames heatwave as downgrades profits
- August 02, 2018

But the warmer than average weather over the season so far in northern Europe has changed prospective holiday makers' minds. Thomas Cook usually makes all of its annual profits during the summer. "Customers across our European markets have delayed decisions about their summer holidays as they enjoy the record temperatures at home", he said. While third-quarter revenues rose 10pc to £2.5bn, Thomas Cook's margins were squeezed and gross profit fell by £15m to £443m. (more...)
United States trade war to affect Tyson Foods' 2018 shares United States trade war to affect Tyson Foods' 2018 shares
- August 02, 2018

In related news, CEO Thomas P. Hayes sold 20,202 shares of the stock in a transaction on Sunday, July 1st. After the transaction, the President and CEO Hayes Thomas P now holds 84,244 shares of the company's stock, which is worth approximately $5354549. (more...)
Meriton To Pay $3m Fine For Manipulating TripAdvisor Reviews Meriton To Pay $3m Fine For Manipulating TripAdvisor Reviews
- August 02, 2018

The Federal Court handed Meriton Property Services Pty Ltd the $3 million penalty today after finding last November that the company had engaged in misleading or deceptive conduct and conduct liable to mislead the public by "masking" email addresses in an attempted to stop guests Meriton suspected would give negative reviews on TripAdvisor. (more...)
Facebook cutting off thousands of apps
- August 02, 2018

Developers with existing apps on Facebook had until August 1 to submit them for review under the revised process, otherwise they'd be cut off from accessing the site's API. Facebook's blog post states: "Our goal with all these changes is to ensure that we better protect people's Facebook information while also enabling developers to build great social experiences - like managing a group, planning a trip or getting concert tickets for your favorite band". (more...)
Outrage as Coles backflips on plastic bag ban Outrage as Coles backflips on plastic bag ban
- August 02, 2018

Now, thicker reusable bags which had previously cost 15 cents each will be handed out for free. It said the decision would only be bad for the environment - a fear echoed by many on social media. That is because they take longer to break down. "Hey Coles, I won't be shopping at Coles until you stop this plastic bag nonsense", she tweeted. Greenpeace campaigner Simon Black said Coles' move was "incredibly disappointing" and "makes a complete mockery of their claims to want to reduce ... (more...)

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