Business


The fall in oil prices was a record for 10 years The fall in oil prices was a record for 10 years
- December 02, 2018

Oil prices also came under pressure as the dollar rose against a basket of currencies as investors hoped that the United States and China would come to an agreement over trade talks. He was also reported to have said that Russia's 2019 oil output is expected at the same level as this year but could be adjusted, depending on a deal between OPEC and non-OPEC members. (more...)
Mazda has 'no plans' to revive MPS, says new global boss… Mazda has 'no plans' to revive MPS, says new global boss…
- December 02, 2018

He didn't give a reason but Mazda has previously stated challenges of low sports auto volumes and high emissions of powerful rotary engines. A production version of Mazda's RX-Vision concept is still on the table, according to Ikuo Maeda, Mazda's design boss. (more...)
Payless Pranks California Fashionistas With Fake Store & Prices Payless Pranks California Fashionistas With Fake Store & Prices
- December 02, 2018

A man holding black high-top, lace-up sneakers with white soles said, "I could tell they were made with high-quality material". With the cameras rolling, the "fashionistas" were asked about their first impressions of Palessi's shoes. All of the pranked shoppers received refunds and were given the shoes they chose. The pop-up shop purported to be for a brand called Palessi - an edited version of Payless - and the space it was held in was modern, with plush blue seats, lit-up displays that ... (more...)
GM President Dan Ammann to head Cruise autonomous-vehicle unit GM President Dan Ammann to head Cruise autonomous-vehicle unit
- December 02, 2018

Ammann, a former investment banker who previously served as GM's CFO, has led the automaker's efforts to create new businesses that could ensure its prosperity in a world of rapidly changing mobility choices. A motivation of the reorganization, which could hit 14,000 jobs or more, is to finance big-money investments in autonomous technology and other new ventures . (more...)
US SEC penalizes US SEC penalizes "touting violations involving ICOs" for first time
- December 02, 2018

According to the US Securities and Exchange Commission ( SEC ), the pair have been fined without admitting or denying the accusations. Meanwhile, Khaled paid $50,000 in disgorgement plus $100,000 in fines plus another $2,725 in interest. (more...)
Bank of England defends £100,000 summer party Bank of England defends £100,000 summer party
- December 02, 2018

It was down half a percent against the euro at 89.14 pence. The two reports could add to pressure on lawmakers to drop their opposition to the Brexit deal that Prime Minister Theresa May struck with European Union leaders on Sunday, which is far from certain to be approved in Parliament on Dec 11. (more...)
Protesters hold brief blockade at entrance of Canada Post facility in Halifax Protesters hold brief blockade at entrance of Canada Post facility in Halifax
- December 02, 2018

Postal workers were ordered back to work on November 27th after 37 days of rotating strikes. A rally opposing the federal government's move to force striking Canada Post workers back to work this week will take place in Kelowna Saturday, in co-ordination with people across the country. (more...)
State Personnel Raid Deutsche Bank Headquarters in Money Laundering Probe State Personnel Raid Deutsche Bank Headquarters in Money Laundering Probe
- December 02, 2018

According to prosecutors, Deutsche Bank is suspected of helping some 900 customers set up offshore shell companies in tax havens to "transfer money from criminal activities". Most recently, Denmark's biggest bank, Danske Bank , admitted that some 200 billion euros ($235 billion) in suspicious money had flown through its Estonian branch from 2007 to 2015. (more...)
Tesco partners with Volkswagen to provide free electric vehicle charging points | Leadership Tesco partners with Volkswagen to provide free electric vehicle charging points | Leadership
- December 02, 2018

Tesco and Volkswagen are planning to install free electric vehicle charging ports at 600 stores, the companies announced today. Pod Point said a 7kW charger tends to give around 30 miles of range per hour of charge time, which doesn't sound all that great, but it's a start. (more...)
Sterling (GBP) Range Bound, UK PM May’s Brexit Plan Continues to Unravel Sterling (GBP) Range Bound, UK PM May’s Brexit Plan Continues to Unravel
- December 02, 2018

Brexit uncertainty is weighing on GBP with the rejection of May's deal expected on Dec 11th; A liquidation of longs following the 1.2820 break influenced cable to drop to 1.2760 from where the pair has based, edging back to a North American high of 1.2796. (more...)
Ex-Autonomy boss Mike Lynch charged with fraud in the US Ex-Autonomy boss Mike Lynch charged with fraud in the US
- December 02, 2018

The charges carry a maximum penalty of 20 years in prison and include 14 counts of conspiracy and fraud. About a year after the ink dried on that deal, HP complained it was misled over Autonomy's financial position and performance, and suffered an $8.8bn writedown as a result of the beleaguered acquisition . (more...)
U.S. and China reach 90-day ceasefire in their trade dispute U.S. and China reach 90-day ceasefire in their trade dispute
- December 02, 2018

Trump said their dinner after the G20 summit in Buenos Aires "was an wonderful and productive meeting with unlimited possibilities for both the United States and China ". "Both sides avoided the worst-case scenario". The meeting ran longer than scheduled, ending after more than two hours. "If we could make a deal, that would be good ", he said on Friday. (more...)
SEC Charges Floyd Mayweather, DJ Khaled With Illegally Promoting Initial Coin Offerings SEC Charges Floyd Mayweather, DJ Khaled With Illegally Promoting Initial Coin Offerings
- December 02, 2018

According to TMZ, Mayweather was paid $300,000 to promote the coin and DJ got $50,000. However, the founder of the company, who paid the DJ and the footballer, was also charged by SEC with fraud in April . The penalties administered to Mayweather and Khaled were in line with the ICO rules established by the SEC past year, in which it defined most ICOs as securities which were therefore subject to securities law. (more...)
Pentagon wants to build army of 'super-soldiers' Pentagon wants to build army of 'super-soldiers'
- December 02, 2018

The exoskeleton was initially created to help people with mobility problems but has been repurposed for military use. When human strength is challenged, ONYX makes the difference, reducing muscle fatigue, increasing endurance and reducing injury. (more...)
China reportedly tracks EV data including drivers’ locations China reportedly tracks EV data including drivers’ locations
- December 02, 2018

From there, manufacturers send at least 61 data points, including location and details about battery and engine function to local centres. As for the Chinese government, the officials say they are only asking for this data to "improve public safety, facilitate industrial development and infrastructure planning, and to prevent fraud in subsidy programs". (more...)
New Nissan Leaf Nismo RC - 322 hp electric race auto New Nissan Leaf Nismo RC - 322 hp electric race auto
- December 02, 2018

Nissan's second-generation Leaf was introduced for 2018 with a 40-kilowatt-hour lithium-ion battery good for 150 miles. But there's clearly potential, as proven by this, the all-new Leaf Nismo RC. Nissan will build six examples of the Leaf Nismo RC to be used in various demonstrations around the globe. This allows the vehicle to sprint from 0-62mph in just 3.4 seconds - 50 per cent quicker than the previous model. (more...)
McDonald's Touchscreens test positive for traces of human poo McDonald's Touchscreens test positive for traces of human poo
- December 02, 2018

Enterococcus faecalis , which was found on five of the machines tested by Metro , is a naturally antibiotic-resistant bacteria found in the digestive tracts of humans and other animals. "Our self-order screens are cleaned frequently throughout the day with a sanitiser solution". However, customers need to keep the information in mind, so that they wash their hands after using the machines before picking up the food. (more...)
German pharmaceutical company Bayer cutting 12,000 jobs German pharmaceutical company Bayer cutting 12,000 jobs
- December 02, 2018

At least 9,000 other lawsuits are pending. "As we now proceed with these measures, we are laying the foundation to sustainably enhance Bayer's performance and profitability", said. Bayer will also divest its animal health division, the No. 5 player in the industry, which analysts have said could fetch $7.94 billion, according to Reuters, and sell its 60 percent stake in Currenta , a company that provides services to chemical companies. (more...)
Drunk pilot detained minutes before take-off jailed Drunk pilot detained minutes before take-off jailed
- December 01, 2018

Judge Phillip Matthews said Katsutoshi was clearly "very intoxicated" prior to the evening take-off and had been drinking that day. "The prospect of you taking over control of that aircraft is too appalling to contemplate". The Japanese co-pilot was arrested at Heathrow on Oct 28 after failing a breath test 50 minutes before the Japan Airlines flight JL44 to Tokyo was due to take off with him in the cockpit. (more...)
Is Powell signalling end of Fed's tightening cycle? Is Powell signalling end of Fed's tightening cycle?
- December 01, 2018

Investors interpreted his remarks as evidence that the Fed might consider pulling back from quarterly rate hikes. If the Fed, as expected, raises the fed-funds rate next month to a band between 2.25% and 2.5%, that would leave it touching the bottom of the range of neutral estimates but four more quarter-percentage-point increases from the top. (more...)
Markets rebound as Fed cools on early rate rises Markets rebound as Fed cools on early rate rises
- December 01, 2018

The reports were mostly positive, led by gains in Personal Spending (Oct.), Personal Consumption (Oct.), and Personal Income (Oct.). Rate markets now only discount 1 more rate hike in 2019, compared to the Fed's median projection of 3 additional tightening steps. (more...)
Surveillance video shows FedEx driver stopping to fold fallen American flag
- December 01, 2018

Cook was so pleased by what King did (she saw it on her home security camera later) that she posted on Facebook . American flag etiquette stipulates that the flag should never touch the ground, but Cook's flagpole appeared to have fallen over in the wind. (more...)
Brexit BOMBSHELL: Galileo 'holds KEY' to predicting Brexit outcome Brexit BOMBSHELL: Galileo 'holds KEY' to predicting Brexit outcome
- December 01, 2018

Mr Gyimah's announcement came as Mrs May disclosed she had given up efforts to gain access to the EU's Galileo satellite navigation system for defence and critical national infrastructure purposes, after being frozen out by Brussels because of Brexit. (more...)
Marriott discloses data breach at reservation database Marriott discloses data breach at reservation database
- December 01, 2018

On November 19, Marriott says its experts decrypted the data, discovering that it was a guest reservation database. It's a story that's been making the rounds like a insane, as it should seeing as how it's one of the worst corporate data breaches to ever happen. (more...)
Adani to commence Carmichael coal mine construction in Australia Adani to commence Carmichael coal mine construction in Australia
- December 01, 2018

As per an official statement, Adani says that the funding verdict follows recent decisions to simplify construction and reduce the initial fund necessities for the project. Australians can choose between coal and coral. Late on Thursday, a Queensland government spokesman said there were concerns over alterations to the original proposal. (more...)

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