Business


Panasonic moves European headquarters to Amsterdam because of Brexit
- August 30, 2018

It is the latest multinational firm to pull jobs and operations out of the United Kingdom, amid growing concern over the Government's protracted negotiations and possible no-deal scenario. If it that was the case, Panasonic could face higher taxes back in Japan. Carmakers Honda and Nissan are also among a raft of Japanese firms that employ large workforces in the UK. (more...)
Turkey's battered lira tumbles again over outlook fears Turkey's battered lira tumbles again over outlook fears
- August 30, 2018

The administration of Turkish President Tayyip Erdogan has repeatedly called for Washington to extradite the movement's leader, Fethulla Gulen, who is in exile in the United States for allegedly orchestrating a failed coup attempt in 2016. (more...)
Buck-a-beer into effect Buck-a-beer into effect
- August 30, 2018

The PC government's new policy lowers the minimum price of a can or a bottle of beer from a $1.25 to $1. Some have said they could not afford to participate without sacrificing the quality of their product. But the costs of making beer have gone up, as have the provincial and federal taxes, making it less feasible for brewers to sell their product at the $1 minimum price now, he said shortly after Ford announced the policy. (more...)
Westpac lifts interest rates; other banks expected to follow Westpac lifts interest rates; other banks expected to follow
- August 30, 2018

Westpac will increase their variable home loan rate by 14 basis points on September 19. We now believe wholesale funding costs will remain high for the foreseeable future'. At its board meeting earlier this month, the Reserve Bank left the official rate at a record low 1.5 per cent, racking up two years since there was any change. (more...)
Iran's Ayatollah Ali Khamenei threatens to scrap nuclear deal with world powers Iran's Ayatollah Ali Khamenei threatens to scrap nuclear deal with world powers
- August 30, 2018

Tuesday's grilling in parliament was the first for Rouhani in five years as president, and lawmakers slammed his handling of five economic issues, ranging from unemployment to the collapsing value of the currency. Iran's crude oil and condensate exports in August are set to drop below 70 million barrels for the first time since April 2017, well ahead of the November 4 start date for a second round of US economic sanctions, preliminary trade flows data on Thomson Reuters Eikon show. (more...)
Facing protests, Russia's Putin offers pension concessions
- August 30, 2018

He stated that, at that time, it was a sound position due to the high unemployment rate, poverty, galloping inflation, and relatively low life expectancy. Radin said his father, who would be retiring in a few years if not for the planned reforms, must travel to Moscow for work "because there are no jobs in provincial towns". (more...)
Nigeria's GDP Slowed In Second Quarter Of 2018 But Grew By 1.50% Nigeria's GDP Slowed In Second Quarter Of 2018 But Grew By 1.50%
- August 30, 2018

Manufacturing grew by 0.66%, while Financial Services & Insurance sector recorded 0.88% growth and the Agric sector's growth was pegged at 1.19%. For the first time since the exit from recession, growth was driven by the non-oil sector which grew by 2.05%, the strongest growth since the first quarter of 2015. (more...)
Amazon Opens Second Go Location In Seattle Amazon Opens Second Go Location In Seattle
- August 30, 2018

This location, the company said, is 1,450 square feet and features pre-prepared meals from Amazon chefs and other local companies, as well as meal kits and snacks. Amazon expects the store will attract a higher proportion of office workers compared to the initial location, according to Gianna Puerini, the Amazon VP who oversees Amazon Go . (more...)
YouTube alternative Facebook Watch launches in the UK YouTube alternative Facebook Watch launches in the UK
- August 30, 2018

A year ago, Facebook launched Watch for its U.S. users, but today, the social media giant announced that Watch is available globally, so everyone can discover new content and interact with each other. While the service will promote independent creators developing their own content, it will "continue investing in some original shows", according to Henick. (more...)
Trade cease-fire with Trump boosts German business optimism Trade cease-fire with Trump boosts German business optimism
- August 29, 2018

The August reading was the highest since February and marked the strongest monthly improvement since December 2014. Ifo chief Clemens Fuest also cited robust domestic conditions. "Even though the European Union seems to be off United States radar screens at least for the time being, the series of German export partners being hurt by sanctions, tariffs or economic crises is getting longer". (more...)
Renault Arkana Study Previews Poor Man’s X4, Is Not For Europe Renault Arkana Study Previews Poor Man’s X4, Is Not For Europe
- August 29, 2018

The platform of the Arkana is a reworked version of the same unit found on the Russia-spec Duster and Captur (sold there as the Kaptur). Now however, the company has finally revealed the vehicle and the world premiere took place at the 2018 Moscow Auto Show. (more...)
European Union left Italy on its own with migrants, Albanian PM European Union left Italy on its own with migrants, Albanian PM
- August 29, 2018

On Thursday, Salvini said that Italy was no longer a refugee camp and that his goal was to implement the toughest policy toward illegal migrants arriving in the country by sea, similar to the Australian "No Way" principle, which has cut almost all access to the continent to migrants arriving by boat. (more...)
Elon Musk seems to revive 'pedo' claims against Thai cave rescue diver Elon Musk seems to revive 'pedo' claims against Thai cave rescue diver
- August 29, 2018

Elon Musk is denying that he cried during a recent interview with The New York Times in which he described how he'd become overwhelmed by the stress of running electric auto company Tesla. Musk sent the machine to the Tham Luang Cave in Chiang Rai, northern Thailand, to help to retrieve 12 boys and their football coach who were trapped deep inside the flooded cave. (more...)
99.3% of demonetised currency returned: RBI 99.3% of demonetised currency returned: RBI
- August 29, 2018

After almost two years since the demonetization on November 9, Reserve Bank of India (RBI) says that verification of the banned notes are complete. The SBNs received were verified, counted and processed in sophisticated high-speed Currency Verification and Processing System (CVPS) for accuracy and genuineness and then shredded, it added. (more...)
Land Rover Wonders if Autonomous Cars Need Fake Eyes Land Rover Wonders if Autonomous Cars Need Fake Eyes
- August 29, 2018

A carmaker has launched an experiment to see whether the public will trust self-driving cars more if they can make eye contact with them. Jaguar Land Rover's mobility division is conducting a study to see if its large eyes, capable of fixing upon a pedestrian and letting them know when it is safe to cross, gives people enough confidence to cross in front of a auto without a human operator behind the wheel. (more...)
Diesel prices touch all-time high; petrol prices on rise Diesel prices touch all-time high; petrol prices on rise
- August 29, 2018

Diesel is being sold at Rs 73.90 per litre in Mumbai, Rs 72.46 per litre in Kolkata and Rs 73.54 per litre in Chennai, according to the official website of Indian Oil Corporation Limited (IOCL). On the other hand, prices of petrol in Delhi is raised to Rs 78.05 per litre. The domestic unit hit a record low of 70.32 in early trade that day. The centre now levies a total of ₹19.48 per litre of excise duty on petrol and ₹15.33 per litre on diesel. (more...)
Farmers to Get $4.7 Billion in First Round of US Farm Aid Farmers to Get $4.7 Billion in First Round of US Farm Aid
- August 29, 2018

The US Department of Agriculture said Monday that it would dole out around $6 billion, including about $4.7 billion to producers of corn, cotton, dairy, hog, sorghum, soybean, and wheat. "Our farmers work hard, and are the most productive in the world, and we aim to protect them". Extra farm aid would help producers who are seeing prices drop and inventories rise because of disputes with China, Canada and other trade partners who are significant purchasers of USA pork, soybeans and other ... (more...)
Kushner Cos. Fined For Falsifying Construction Permits Kushner Cos. Fined For Falsifying Construction Permits
- August 28, 2018

Developers are required to report the number of rent-controlled tenants they inherit when they buy properties and renovate them. The company, led at the time by White House adviser Jared KushnerJared Corey KushnerAxios: GOP circulating spreadsheet ahead of midterms listing potential Dem probes Cohen draws fresh scrutiny from key Senate panel Trump: I did not know about Trump Tower meeting MORE , used the false paperwork to push out tenants, the AP reported earlier this year. (more...)
United States and Mexico reach a preliminary trade deal United States and Mexico reach a preliminary trade deal
- August 28, 2018

Major sections of the deal have been agreed upon, including intellectual property rights and the auto sector, and it seems that those arrangements would be acceptable for the Canadian delegation as the three sides sit down together today in Washington . (more...)
Canada's two largest airlines are bumping baggage fees Canada's two largest airlines are bumping baggage fees
- August 28, 2018

WestJet's changes apply to flights starting October 1 for domestic bookings made as of last Friday, and as of Tuesday on flights to the US and global destinations. Up until 2014, many airlines followed a baggage policy that allowed travelers to check their first bag for free. A third bag will cost $150, up $50 from the current fee. (more...)
Kansas Republicans call for trade stability while praising Trumps Mexico deal Kansas Republicans call for trade stability while praising Trumps Mexico deal
- August 28, 2018

Trump says he will be calling Prime Minister Justin Trudeau . "The Americans are clearly trying to spin this as a deal they've reached with Mexico , and Canada can take it or leave it", said Avery Shenfeld, chief economist with CIBC Capital Markets. (more...)
Saddled with bad loans, 50 power projects hang by a thread Saddled with bad loans, 50 power projects hang by a thread
- August 28, 2018

It set a time limit of 180 days for firms in default and those which were about to default for a resolution. The resolution plan as considered by the consortium of lenders is under approval with the lenders. "This section has never been invoked to force the RBI to alter its rules or regulations". Banks will have the additional burden of provision, depending on the haircut they have to take for each of the case, public sector bank executives pointed out. (more...)
Tez rebranded as Google Pay, to facilitate pre-approved loans from banks
- August 28, 2018

Fret not, though, as this doesn't mean the pre-Google Pay confusion will be back. Finally, after reviewing the terms of the loan, the bank will deposit the money in their bank account instantly without the need of any additional paperwork, Google said , according to IANS. (more...)
U.S., Mexico reach NAFTA deal; talks with Canada to start immediately U.S., Mexico reach NAFTA deal; talks with Canada to start immediately
- August 28, 2018

Also pictured is Mexican Foreign Affairs Minister Luis Videgaray Caso, left. NAFTA is blamed for hastening the demise of US manufacturing as automakers and other manufacturers moved factories south of the Rio Grande. "They're bringing drugs. They're bringing crime". However, his transition team has been taking part in the talks, and gave their blessing to the two-way deal. (more...)
Mexico trade deal sparks rally in auto stocks
- August 28, 2018

The deal would require 75 per cent of cars to be made in the NAFTA region, up from the current level of 62.5 per cent, a USA trade official said . Canada has been absent from the NAFTA bargaining table since trilateral talks paused last spring. (more...)

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