Business


World Bank Taps Australia's CommBank to Issue Its First Blockchain Bond World Bank Taps Australia's CommBank to Issue Its First Blockchain Bond
- August 10, 2018

The foreign bonds which are issued in Australia in its local currency is known as the Kangaroo bond. There's also a certain irony in the World Bank demanding debt be managed via blockchain, considering we were meant to be freed of it via cryptocurrency . (more...)
Country Club Plaza deemed no fly zone for Bird electric scooters Country Club Plaza deemed no fly zone for Bird electric scooters
- August 10, 2018

CLEVELAND- The electric scooter-sharing service Bird has landed in Cleveland. "Since our streets are public, the City was within its rights to make the decision to allow Bird to operate on the Plaza without involving our management team". (more...)
Turkey's currency nosedives on economic concerns, U.S. dispute Turkey's currency nosedives on economic concerns, U.S. dispute
- August 10, 2018

Turkey's embattled lira on Friday hit new record lows against the USA dollar and euro, losing over seven percent in value as strains with the United States showed no sign of abating and fears grew over the exposure of European banks. Trump tweeted Friday that he authorized raising tariffs on Turkish steel to 50 percent and aluminum to 20 percent as the country's currency falls rapidly against the USA dollar. (more...)
McDonald's offering chance to win McGold Card, free food for life McDonald's offering chance to win McGold Card, free food for life
- August 10, 2018

Starting this Friday, the burger giant will be giving one lucky victor that opportunity, launching a sweepstakes for an extremely rare McGold Card which bestows upon the holder the equivalent of free McDonald's for the rest of their life. (more...)
Hargreaves Lansdown posts record FY assets on inflows, market gains Hargreaves Lansdown posts record FY assets on inflows, market gains
- August 10, 2018

Hargreaves Lansdown's results also showed a 10% increase in profits before tax - up to £294.4m - and the group declared a dividend of 40p per share, representing a rise of 38% on past year. Hill maintained the group's focus on client service was necessary to position it to capture "the structural growth opportunity" in the United Kingdom savings and investments market, flagging up "significant challenges" society faces in the United Kingdom, including a £314bn savings gap, a greater need ... (more...)
Erdogan warns of campaign against Turkey as lira plummets Erdogan warns of campaign against Turkey as lira plummets
- August 10, 2018

The lira went into free-fall, sinking more than 12 percent at one point to reach and all-time low, having now lost more than one third of its value this year against the United States dollar and the euro. "We are entering into a balance-of-payment crisis here", said Cristian Maggio, head of emerging market strategy at TD Securities in London. Inflation stands at almost 16% but Turkey's central bank is reluctant to act - especially with the president having described himself as an "enemy of ... (more...)
Australia’s central bank celebrates second anniversary of policy inactivity Australia’s central bank celebrates second anniversary of policy inactivity
- August 10, 2018

The AUD/USD still looks like a good pair to sell on rallies, with the fundamentals remaining bearish for the Aussie currency. The decision came with a heads up from RBA Governor, Phillip Lowe that there was likely to see a drop in the inflation rate this quarter to lower 2018 CPI inflation to 1.75% from 2.1% in the June quarter (on a headline CPI basis) and almost 2% on an underlying basis. (more...)
US says Russian Federation sanctions to target security-related goods US says Russian Federation sanctions to target security-related goods
- August 10, 2018

The Trump administration said Wednesday it would impose more sanctions against Russia as punishment for its use of a nerve agent in an attempt in March to assassinate British citizen and ex-Russian intelligence officer Sergei Skripal and his daughter. (more...)
‘Wishful thinking’: Chinese newspaper rips Trump’s belief he’s winning trade war ‘Wishful thinking’: Chinese newspaper rips Trump’s belief he’s winning trade war
- August 10, 2018

Trump's desire for others to play along with his drama is "wishful thinking", a commentary on the paper's front page said, arguing that the United States had escalated trade friction with China and turned global trade into a "zero-sum game". (more...)
Ryanair strike brings misery to 70,000 holidaymakers as 400 flights cancelled Ryanair strike brings misery to 70,000 holidaymakers as 400 flights cancelled
- August 10, 2018

Ryanair pilots are striking in five European countries, forcing the cancellation of a sixth of the firm's flights during the holiday season peak. An estimated 50,000 passengers are understood to have been informed of cancellations, the majority of whom have been re-accommodated on alternative flights. (more...)
Aimia’s largest shareholder backs co on Aeroplan loyalty sale Aimia’s largest shareholder backs co on Aeroplan loyalty sale
- August 09, 2018

Aeroplan's millions of members earn Aeroplan Miles with its growing network of over 75 world-class partners, representing more than 150 brands in the financial, retail, and travel sectors. The bidders, it seems, have seized on the fear that Aeroplan members will rush to redeem their miles before Air Canada's contract with Aeroplan expires in 2020, thus creating a rush of cash out the door for Aimia. (more...)
Rite Aid and Albertsons terminate merger Rite Aid and Albertsons terminate merger
- August 09, 2018

Rite Aid Chairman and CEO John Standley said in a prepared statement that his company would continue to "build momentum" for big parts of its business like its renovated stores, expanded pharmacy services and its customer loyalty program. (more...)
Saudi foreign ministry focuses on expats in Canada amid diplomatic row Saudi foreign ministry focuses on expats in Canada amid diplomatic row
- August 09, 2018

As a result, he said that Canadian refineries would be challenged to replace 100,000 bpd of oil supply without incurring significant additional costs. "After "disciplining" domestic critics through warnings & arrests (Saudi Arabia is) seeking to use economic leverage & diplomatic actions to discipline foreign critics as well", tweeted Kristin Diwan, of the Arab Gulf States Institute in Washington. (more...)
Homebase closing down 60 stores threatening more than 1,000 jobs Homebase closing down 60 stores threatening more than 1,000 jobs
- August 09, 2018

Wesfarmers had presided over one of the most disastrous corporate takeovers in recent retail history, buying Homebase for £340m in 2016 and rebranding many of its shops to Bunnings Warehouse before admitting it was out of its depth and disposing of the chain for a nominal fee two years later. (more...)
Furniture giant IKEA's first India store opens today in Hyderabad Furniture giant IKEA's first India store opens today in Hyderabad
- August 09, 2018

The store will remain open 365 days from between 10.00 am - 11.00 pm. It sells a wide range of home furnishing products. As per reports, Ikea had conducted a deep market research to understand Indian consumers' mindset and inclinations. (more...)
Suzuki Motor, Mazda, Yamaha admit false emissions data Suzuki Motor, Mazda, Yamaha admit false emissions data
- August 09, 2018

The government had ordered the automakers to make checks after revelations of improper testing at Subaru Corp and Nissan Motor Co past year. According to Ministry of Land, Infrastructure and Transport of Japan, Suzuki, along with Mazda and Toyota have accepted to having cheated on the emissions tests and submitted a report of samples of manufactured vehicles selected during the quality assurance process. (more...)
Uber Drivers Logged Off to Protest in Australia Uber Drivers Logged Off to Protest in Australia
- August 09, 2018

The legislation would limit the number of vehicles at the current level by stopping the issuance of new for-hire vehicle licenses while the city studies the rapidly changing industry, which has been transformed by Uber's remarkable rise. The RDSU also asked that Uber should permit the drivers to choose out of the UberPool system-in which the passengers share with others and raise UberX base rates by at least fifteen per cent, to account for the ever-rising increase in auto maintenance and ... (more...)
Welsh tourist 'stuck in Dubai' over £36k speeding fine Welsh tourist 'stuck in Dubai' over £36k speeding fine
- August 09, 2018

Mr Hashi reportedly broke the speed limit on one of Dubai's busiest roads dozens of times in the early hours of Tuesday. But his brother Adman, 50, claims his passport was seized after he had driven the £155,000 supercar. Iqbal said he had never had a client run up such a large amount in speeding fines from hiring one of his luxury sports cars. Hashi is said to have triggered every speed camera on the Sheikh Hashid road reaching a top speed of about 143mph. (more...)
City Council vote on ride-share cap City Council vote on ride-share cap
- August 09, 2018

Now the legislation heads for New York Mayor Bill de Blasio's desk, who is expected to sign it. The effort to cap the services in New York, Uber's largest USA market, was opposed by ride-hailing businesses, including Uber, Lyft and Via. (more...)
China to slap additional tariffs on $16 billion of United States goods China to slap additional tariffs on $16 billion of United States goods
- August 09, 2018

The surplus with the United States was higher than China's overall trade surplus in July, which was $28.05 billion, indicating China ran a net trade deficit with the world excluding the U.S. April 4: China rolls out a listof more than 100 U.S. goods worth roughly $50 billion that are subject to retaliatory tariffs. June 18: Trumpthreatens a 10% tariff on another $200 billion worth of Chinese goods. (more...)
United States tariffs on China: Trump administration adds $16 billion
- August 08, 2018

West Texas Intermediate and international-benchmark Brent crude oil futures are under pressure early Wednesday after China said it will retaliate against the latest round of USA tariffs on Chinese imports. Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over market access, intellectual property, technology transfer and investment. (more...)
Tesla take-private skepticism grows after Elon Musk's funding claim Tesla take-private skepticism grows after Elon Musk's funding claim
- August 08, 2018

As Tesla's board of directors rallied Wednesday behind chief Elon Musk's extraordinary push to take the all-electric automaker private, a growing contingent of investors, analysts and former regulators voiced their doubts that the deal would ever take off. (more...)
Google in talks with Tencent, others for cloud services in China - BBG Google in talks with Tencent, others for cloud services in China - BBG
- August 08, 2018

A Google sign is seen during the China Digital Entertainment Expo and Conference (ChinaJoy) in Shanghai, China August 3, 2018. Candidates for the partnership were narrowed to three firms this past March - those companies include Tencent and Inspur Group. (more...)
No-deal Brexit 60% likely, says UK Government's Liam Fox No-deal Brexit 60% likely, says UK Government's Liam Fox
- August 08, 2018

After reporting a 5 percent rise in first-half profit before tax, the lender said it remains cautiously optimistic for global growth in the remainder of the year. No. 10 insists the government remains confident it can get a good deal. "It's up to the EU27 to determine whether they want the EU Commission's ideological purity to be maintained at the expense of their real economies", he warned. (more...)
Papa John's same-store sales slide 6.1 percent Papa John's same-store sales slide 6.1 percent
- August 08, 2018

He also said that Papa John's wants to be "a purpose-driven company", which sounds an terrible lot like another restaurant chain trying to move past its own bad news: Chipotle Mexican Grill, which recently touted its desire to become a "purpose-driven lifestyle brand". (more...)

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