Business


Ford cancels SUV that it planned to import from China Ford cancels SUV that it planned to import from China
- September 02, 2018

The automaker announced the decision on Friday, saying that the previously imposed tariffs on Chinese products - and the prospect of more in the future - are likely to hit the company's bottom line. Ford's decision to abandon the Focus Active contrasts with the effort by rival General Motors Co to seek an exemption to new, 25 per cent United States tariffs on its Buick Envision utility vehicle. (more...)
Wipro bags 10-year, $1.5-bn deal from US-based Alight Solutions Wipro bags 10-year, $1.5-bn deal from US-based Alight Solutions
- September 02, 2018

With this, the Bengaluru-headquartered software services exporter joins larger peer Tata Consultancy Services ( TCS ) in bagging larger deals at a time when outsourcing services industry is seeing a slowdown owing to emergence of digital services. (more...)
Raab 'stubbornly optimistic' of Brexit deal with EU Raab 'stubbornly optimistic' of Brexit deal with EU
- September 02, 2018

Michel Barnier , the EU's chief Brexit negotiator, said Europe is prepared to offer an unprecedented partnership to the UK. If markets remain optimistic about the chances of a strong UK-EU Brexit deal, the pound to USA dollar exchange rate could continue its recovery in the coming days. (more...)
How major United States stock indexes fared Friday How major United States stock indexes fared Friday
- September 02, 2018

Canadian Foreign Minister Chrystia Freeland said, "We're not there yet" and added the country was looking for a good deal, not any deal, while Trump is reported have said that any trade deal with Canada would be "totally on our terms", according to the Toronto Star. (more...)
Papa John's founder wants court to intercede Papa John's founder wants court to intercede
- September 02, 2018

A separate lawsuit was filed on July 26 over what Schnatter claims was the company's refusal to provide him with documents related to what he said is the "unexplained and heavy-handed way" in which he was treated following reports that he used a racial slur during a conference call in May. (more...)
'Herberger's is Coming Back,' According to Store's Website 'Herberger's is Coming Back,' According to Store's Website
- September 02, 2018

Just days after former retail giant Herberger's shuttered all of its locations for good nationwide, a greeting on the store's website now says it is miraculously coming back. The websites for Boston Store, Bon-Ton, Carson's, Bergner's, Elder-Beerman, Herberger's and Younkers department stores have messages proclaiming their comebacks. (more...)
Watchdog provisionally clears SSE-Npower merger Watchdog provisionally clears SSE-Npower merger
- September 02, 2018

The merger between Big Six energy suppliers SSE and npower has been provisionally cleared by the United Kingdom competition watchdog. The Swindon-based energy provider, based in Windmill Hill Business Park, will merge with the second largest energy firm SSE after the Competition and Market Authority found consumers still had plenty of choice and it would not push up prices. (more...)
Australia's new leader hopes to be best mates with Jokowi Australia's new leader hopes to be best mates with Jokowi
- September 02, 2018

Australia's prime minister called for greater investment and engagement with Indonesia yesterday, ahead of talks with his Indonesian counterpart on a free trade deal that could be signed later this year. Foreign investors are now barred from majority ownership in an Indonesian university. "It means we can improve the quality of our human resources". (more...)
Amazon crosses $2,000 per share, on way to $1 trillion club Amazon crosses $2,000 per share, on way to $1 trillion club
- September 02, 2018

The online retailing giant's shares are now trading at $2,015.10, up $17.00 or 0.85%. Amazon's stock price has doubled over the past 12 months, trailing only Netflix Inc. With 487,741,189 shares outstanding as of July 18, according Amazon's most recent quarterly filing, a stock price of $2,050.27 would give Amazon a market cap of $1 trillion. (more...)
Panasonic to move headquarters out of Britain before Brexit Panasonic to move headquarters out of Britain before Brexit
- September 02, 2018

It comes as several other Japanese financial companies say they intend to move their main European Union bases away from London. The firm, now enjoying showing off its latest tech at IFA 2018 , in Berlin, will relocate its outer-London European HQ to Amsterdam sometime in October. (more...)
Vodafone in $11bn Australian merger ZlotoNews Vodafone in $11bn Australian merger ZlotoNews
- September 02, 2018

Hutchison Telecommunications Australia shares reportedly shot up 44% following the announcement while TPG Telecom stocks reportedly jumped 18%. The proposed merger openly admits this is a move to "compete more effectively with Telstra and Optus", though it also cites a desire to "invest and drive innovation, service and product improvement to benefit Australian telecommunications customers". (more...)
Pres. Trump Asserts 'No Political Necessity' To Keep Canada In New NAFTA
- September 02, 2018

In the remarks that were published by the Toronto Sun on Friday, Trump said that he did not intend to make any concessions to Canada during the NAFTA negotiations. But Canadian negotiators anxious to preserve the section have made it a red-line issue. "As we've said all week, we're working toward a modernized NAFTA, a modernized NAFTA that will be good for Canada and the middle class", said Cameron Ahmad. (more...)
San Francisco Denies Scooter Permits for Bird, Lime, Uber and Lyft San Francisco Denies Scooter Permits for Bird, Lime, Uber and Lyft
- September 02, 2018

While no application was flawless, the SFMTA selected only the applicants with the strongest proposals for the one-year pilot program. "The agency looked for applications that prioritized the city's concerns around safety, disabled access, equity and accountability ", said SFMTA spokesperson Ben Jose of the decision. (more...)
Peterborough’s Homebase store set to close after creditors approve deal Peterborough’s Homebase store set to close after creditors approve deal
- September 02, 2018

Nearly 96 per cent of the creditors approved the DIY chain's rescue package structured through a company voluntary arrangement, a contentious insolvency process but one that could help it to avert collapse. Since February 16 Homebase stores have closed, and 303 jobs have been axed at the head office in Milton Keynes. Restructuring experts at Alvarez & Marsal will carry out the CVA. (more...)
Crossrail to miss December opening date Crossrail to miss December opening date
- September 02, 2018

And it's already running hundreds of millions of pounds over budget. Sources said this week there was speculation the opening of what will be called the Elizabeth Line could be delayed. A council spokesman said: "We are disappointed that the start of Crossrail services has been put back to Autumn 2019 and we will be seeking reassurance that there will be no further delays". (more...)
Bullish or Bearish Territory? Cronos Group Inc. (CRON) Bullish or Bearish Territory? Cronos Group Inc. (CRON)
- September 02, 2018

The organization has the market capitalization of $1.47B. Market capitalization is just a fancy declare for a comprehensible concept: it is the market value of a company's outstanding shares. Cronos Group Inc ., belongs to Healthcare sector and Biotechnology industry. Forward P/E is a measure of the price-to-earnings ratio using forecasted earnings for the P/E calculation for the next fiscal year. (more...)
Foreign born? Bank of America might just freeze your account Foreign born? Bank of America might just freeze your account
- September 02, 2018

The Kansas City Star reported on a similar case in July, when Kansan Josh Collins said he received an unusual-looking letter from Bank of America asking about his citizenship status. It is important for banks to know the country of citizenship of its customers because banks, by law, must comply with sanctions that restrict or prohibit activity in or with certain sanctioned countries or persons. (more...)
Bitmain's BTC.com is Launching an Ethereum Mining Pool Bitmain's BTC.com is Launching an Ethereum Mining Pool
- September 02, 2018

One Ethereum Classic coin can now be bought for approximately $12.79 or 0.00183508 BTC on major exchanges including Bibox, LiteBit.eu, LBank and Exrates. Insight Chain (INB) traded 0.6% higher against the dollar and now trades at $0.33 or 0.00004841 BTC. The platform announced that their pool will support both, Ethereum ( ETH ) as well as Ethereum Classic ( ETC ), as both are mined on the same Ethash algorithm. (more...)
#FinancialBytes: What happens if you miss tomorrow's ITR filing deadline #FinancialBytes: What happens if you miss tomorrow's ITR filing deadline
- September 02, 2018

Income tax laws provide for deduction of from annual taxable income. The department opened an e-filing window for income tax return ( ITR ) for the assessment year 2018-19 on its website for salaried employees. For individual with an income between Rs. 2.5 lakh and Rs. 5 lakh, income tax at the rate of five per cent is applicable. You will require basic documents like PAN card, Aadhaar card (not mandatory) and bank account details before filing the returns. (more...)
Trump federal worker pay raise cancellation, GOP tax law federal debt Trump federal worker pay raise cancellation, GOP tax law federal debt
- September 02, 2018

Congress could still authorize a raise despite Trump's letter. Under the complex federal pay law, in that case such a message must be issued by the end of August to prevent a much larger raise from taking effect automatically should no decision be made by the end of the year . (more...)
CBOE May Launch Ether Futures by the End of 2018 CBOE May Launch Ether Futures by the End of 2018
- September 01, 2018

The BTC traders have been used to periods of huge volatility since a year ago and for such people, it has been quite hard to deal with the ranging that has been going on for long. Since their launch, Bitcoin futures from both CBOE and CME Group have faced both mixed success and a mixed reception as the 2018 bear market across cryptocurrency continues to take its toll . (more...)
Uber lists Japan among 5 candidate sites to test flying taxi Uber lists Japan among 5 candidate sites to test flying taxi
- September 01, 2018

Uber Air, is aiming to launch demonstration flights across a number of cities in 2020, with the hopes of having a fully functional paid flying taxi service in operation by 2023. Australia - The team is working closely with Australian Civil Aviation Safety Authority in Sydney and Melbourne. Additionally, Uber Elevate announced plans to experiment with drone delivery for Uber Eats , and demonstrated how potential Uber Air routes in Asia Pacific cities could benefit, and complement, local ... (more...)
KFC contest giving $11K to parents who name baby 'Harland' KFC contest giving $11K to parents who name baby 'Harland'
- September 01, 2018

In honor of "The Colonel", parents can enter to win a cash prize if their child is born on Sanders' birthday and shares his name. The victor will get $11,000 towards the baby's college education. Young children in Beijing dress up as U.S. fast-food chain Kentucky Fried Chicken's Colonel Sanders look-alikes during a store opening ceremony in Beijing in 2006. (more...)
Google's Ad Tracking Knows Every Mastercard Purchase You Make, Online or Off Google's Ad Tracking Knows Every Mastercard Purchase You Make, Online or Off
- September 01, 2018

Google has reportedly bought Mastercard credit card data in the U.S. to help it track users' offline spending in stores. In May past year, Google quietly launched a tool called " store sales measurement " that could help it determine whether an online ad led directly to real-world purchases. (more...)
U.S. and Mexico reach NAFTA overhaul deal, upping pressure on Canada U.S. and Mexico reach NAFTA overhaul deal, upping pressure on Canada
- September 01, 2018

Canadian Prime Minister Justin Trudeau stressed in a phone call with Trump that the aim is to reach a new NAFTA deal . The latter is more likely. Trump also wants a NAFTA deal that eliminates dairy tariffs of up to 300 percent that he argues are hurting USA farmers, an important political base for Republicans. (more...)

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