Business


European Union and United Kingdom officials agree draft political declaration on future relationship
- November 22, 2018

Theresa May was negotiating late into the night on Wednesday with Jean-Claude Juncker. The next steps will take place over the weekend, where May will meet Juncker on Saturday and then take part in the main summit on Sunday, where parties ope to sign off on both the withdrawal agreement and the political declaration. (more...)
Apple iPhone Supplier Foxconn Said to Plan Deep Cost Cuts Apple iPhone Supplier Foxconn Said to Plan Deep Cost Cuts
- November 22, 2018

Why it matters: It appears that weak demand for Apple's latest iPhones is continuing to affect its suppliers and assemblers. Since most major analysts do not think that the situation will get any better, the assembler is reportedly planning to dial down costs. (more...)
Chinese shopping websites boycott Dolce & Gabbana, Fashion News & Top Stories Chinese shopping websites boycott Dolce & Gabbana, Fashion News & Top Stories
- November 22, 2018

NetEase Inc e-commerce platform Kaola confirmed it had removed Dolce & Gabbana products while luxury goods retailer Secoo said it removed the brand's listings on Wednesday evening. The brand is also being deserted by its spokesmen and celebrities in the fallout. TF Boys' Karry Wang, Dolce & Gabbana's Asia-Pacific brand ambassador, announced after the show was cancelled that he has informed the brand he is terminating his contract with it. (more...)
SA Reserve Bank hikes interest rates SA Reserve Bank hikes interest rates
- November 22, 2018

The South African Reserve Bank's (SARB) monetary policy committee (MPC) is now holding its last of six annual meetings to ponder interest rates and its chairman, Governor Lesetja Kganyago, is due to announce its decision at a news conference later on Thursday. (more...)
Cars separate on New York City-bound train from Montreal Cars separate on New York City-bound train from Montreal
- November 22, 2018

According to Amtrak, the train had been scheduled to arrive at Penn Station by 8:50 p.m. The train was running more than three hours behind schedule after the transfer to a new train was completed. Some crying children were comforted by their parents, Reeves said, but for the most part no one panicked and a state trooper soon boarded to make sure everyone was safe. (more...)
Jho Low cheated me, says Najib Jho Low cheated me, says Najib
- November 22, 2018

Najib said his answer was in response to the host who asked whether it can now be admitted that Malaysia had been cheated by Low in matters involving 1Malaysia Development Berhad (1MDB). The suit, filed in a NY court on behalf of Abu Dhabi's International Petroleum Investment Company, names Goldman as well as former Goldman officials who were charged by the US Justice Department in indictments unsealed earlier this month. (more...)
Amazon.com bows to pressure, reopens global store to Australian shoppers Amazon.com bows to pressure, reopens global store to Australian shoppers
- November 22, 2018

However, the new rules will apply only to products that Amazon stocks and sells itself. The ban on sales from third-party sellers may also be lifted soon, with Amazon reportedly investigating how they can comply with Australian law to collect the 10% GST on those items. (more...)
All Five FAANG Stocks Are Now Officially in Bear-Market Territory All Five FAANG Stocks Are Now Officially in Bear-Market Territory
- November 22, 2018

The ongoing fall began in the United States, with tech stocks, particularly the FAANG equity basket, entering a sustained decline. As noted by The Street , those firms "had lost $945 billion in market value prior to today's open". The company just barely escaped entering bear market territory at market close. I owned Amazon and Netflix at around this time and managed to cash out with some profit. (more...)
Nissan board votes to oust Carlos Ghosn as chairman Nissan board votes to oust Carlos Ghosn as chairman
- November 22, 2018

This was opposed by executives in the Japanese firm that has ended up being the most profitable player in the partnership and the FT said Ghosn's departure could be used as a pretext to rebalance the alliance in Nissan's favour. He became chief executive of Renault in 2005, leading the two automakers simultaneously. NHK said the seven-member board had voted unanimously to dismiss Ghosn, who is credited with saving the carmaker from bankruptcy when he took over nearly two decades ago and ... (more...)
Lifetime ban from USA travel for Canadian marijuana investor Lifetime ban from USA travel for Canadian marijuana investor
- November 22, 2018

Meanwhile, a Canadian investor who was travelling from Vancouver to Las Vegas to tour a new cannabis facility and attend the Marijuana Business Conference & Expo last week has been issued a lifetime entry ban to the USA, according to a Financial Post report . (more...)
Experts expect roads to be busiest since 2005 for holiday travel Experts expect roads to be busiest since 2005 for holiday travel
- November 22, 2018

The AAA projection also included data that shows that in many Americans cities drivers will spend as much as four times on the road as during a regular commute. "We're seeing this is the busiest travel since 2005, more than 54 million people traveling, 85-percent of those - or 48 and a half million - will be driving to their destinations", stated Robert Sinclair, spokesman for AAA. (more...)
US couple win $1.8 million after finding discarded lottery ticket US couple win $1.8 million after finding discarded lottery ticket
- November 22, 2018

New York Lottery officials say the winning ticket was sold at West Harlem Deli at 2040 5th Ave. Powerball officials say tickets purchased in Iowa and NY match all six numbers in Saturday night's drawing. Chopin told Yahoo Lifestyle that officials at the Lousiana Lottery "had been watching this one for a while, since it was a big jackpot". She said that luckily, it's not very often that a victor waits until the eleventh hour to come forward - and they shouldn't. (more...)
Brexit: May to return to Brussels for last-ditch talks Brexit: May to return to Brussels for last-ditch talks
- November 22, 2018

Asked to clarify comments he made last week that in a no-deal scenario it would be difficult to avoid a hard border between Northern Ireland and Ireland, Mr Varadkar said "nobody knows for sure" what would happen in a no-deal scenario where the United Kingdom crashed out of the European Union without a deal. (more...)
Annual consumer inflation rises to 5.1% in October - Stats SA Annual consumer inflation rises to 5.1% in October - Stats SA
- November 22, 2018

Although inflation remains well below the Reserve Bank's 6% ceiling, concern that inflation will continue rising may prompt the Bank to raise its repo rate from 6.5% to 6.75%. CPI came in at 5.1 percent in October compared to the same month a year ago. Core inflation (CPI excluding food, NAB, fuel and energy) remained unchanged at 4.2 percent year on year in October. (more...)
Alberta Seeks Refineries, Could Cut Oil Output, Notley Says Alberta Seeks Refineries, Could Cut Oil Output, Notley Says
- November 22, 2018

Notley was asked Monday if she is considering measures to curtail Alberta oil production, or if she would act if a recommendation to cut production was put to her by her new oil-price envoys. That's why we're focused on moving forward on the Trans Mountain Pipeline expansion in the right way, responding to the issues that the court has identified on the marine safety issues as well as meaningful consultation with Indigenous communities to bring that project back on track". (more...)
Postal union requests mediator as Canada Post deadline expires without deal Postal union requests mediator as Canada Post deadline expires without deal
- November 21, 2018

The Trudeau government signalled Monday it was willing to give Canada Post a couple more days to settle a labour dispute with its employees despite pressure from business to end rotating strikes that have caused a month-long backlog of undelivered parcels and mail. (more...)
No Brexit is more likely than no-deal, says Amber Rudd No Brexit is more likely than no-deal, says Amber Rudd
- November 21, 2018

Speaking in the Irish parliament, he described the DUP as a hardline unionist party not disposed to take advice from Irish political parties. Express.co.uk contacted Amber Rudd's office for comment and a spokesman said: "Amber Rudd has nothing to add to her comments on the Today programme". (more...)
Amazon hit by data breach before Black Friday Amazon hit by data breach before Black Friday
- November 21, 2018

Multiple Register readers forwarded us emails sent from Amazon's United Kingdom tentacle informing them that the online sales site had "inadvertently disclosed [their] name and email address due to a technical error". As BetaNews reports , the email Amazon sent is quite obscure. "The issue has been fixed". In its notifications to customers, the company said that they did not need to change their passwords or "take any other action". (more...)
Volvo Announces It Will Bring Zero Cars To L.A. Volvo Announces It Will Bring Zero Cars To L.A.
- November 21, 2018

The industry is changing, and the L.A. show is technically called "Automobility LA", so it wants to be on the bleeding edge of that discussion. Here's a statement regarding the decision from the guy responsible for product strategy at Volvo, Mårten Levenstam. (more...)
Facebook aims to support local news with fund to train United Kingdom journalists Facebook aims to support local news with fund to train United Kingdom journalists
- November 21, 2018

Facebook said the official application process will open in early 2019 as the NCTJ and the British publishers will run promotional campaigns in United Kingdom universities across the country to recruit more young people for a career in journalism. (more...)
Ride-hailing advocates 'bewildered' by B.C.'s implementation plan Ride-hailing advocates 'bewildered' by B.C.'s implementation plan
- November 21, 2018

Michael van Hemmen, Uber's general manager of cities for Western Canada, said he has no idea why the province chose to make a Class 4 licence a requirement for ride-hailing drivers, particularly when other provinces allow people to use their regular licences. (more...)
IKEA Group Planning To Cut 7,500 Administrative Jobs IKEA Group Planning To Cut 7,500 Administrative Jobs
- November 21, 2018

Ingka is to open stores in 30 major city centres to diversify its reach, which it said will eventually create 11,500 jobs over the coming two years. Javier Quiñones, Ikea UK and Ireland retail manager, said the company needed to stay "relevant". (more...)
Green Tuesday: Crowds line up at 1st East Coast pot shops Green Tuesday: Crowds line up at 1st East Coast pot shops
- November 21, 2018

Both stores opened to long lines of customers eager to get their first taste of legal weed. Northampton Mayor David Narkewicz makes the first marijuana purchase at New England Treatment Access , Nov. The store's co-founder, Arnon Vered, thanked the mayor and offered this advice: "Remember, go low and slow". Pot is sold legally in six western states. (more...)
Britain's TSB Bank names new CEO after IT meltdown Britain's TSB Bank names new CEO after IT meltdown
- November 21, 2018

Crosbie, a 20-year veteran of CYGB, will replace Paul Pester who resigned in September after the IT meltdown. The move will see the United Kingdom lender's current CEO Paul Pester step down after presiding over the introduction of a new IT system that plunged the bank into a meltdown that resulted in millions of its customers unable to access online banking services. (more...)
Kottayam man Thomas Kurian to lead Google Cloud Kottayam man Thomas Kurian to lead Google Cloud
- November 21, 2018

Succeeding Greene as CEO of Google Cloud will be Thomas Kurian , a 22-year alum of Oracle. When this journey started, some people would say that Google had great technology but they weren't sure that customers would rely on Google as their enterprise partner. (more...)

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