Business


Jobless rate hits another low nationally Jobless rate hits another low nationally
- December 09, 2018

The jobless rate was 5.4 per cent last month, a big drop from the October rate of 6.3%. The country's unemployment rate fell to 5.6 per cent, the lowest level since StatCan started measuring comparable data in 1976. Launched on June 1, 2016, Daily Hive is the evolution of Vancity Buzz and is now in Vancouver, Calgary, Toronto, and Montreal. "A large increase in jobs will hold until the growth rate in January, but we also need positive readings of other indicators and the absence of major ... (more...)
OPEC to slash output by 1.2mn bpd; Iran exempted OPEC to slash output by 1.2mn bpd; Iran exempted
- December 09, 2018

Organization of the Petroleum Exporting Countries (OPEC) and its Russia-led allies agreed on Friday to slash oil production by more than market expectations despite pressure from US President Donald Trump to reduce the price of crude. Novak said that Russian Federation, which leads the nonmember-countries in the so-called OPEC+ alliance, would introduce cuts "gradually" to allow for "climatic and technical conditions" but aimed to reach the cuts target "in the next few months". (more...)
Amazon targets airports for new checkout-free stores Amazon targets airports for new checkout-free stores
- December 09, 2018

Amazon's checkout-free Go stores are really starting to take off. "The lead for Amazon Go requested a meeting", read a June 27th email from a LAX technology adviser. An unnamed source said that Amazon was trying to figure out how to get into airports and assigned a business development employee to the task. Operating in airports will present new challenges for Amazon Go. (more...)
Markets Right Now: Stocks turn lower, led by tech companies Markets Right Now: Stocks turn lower, led by tech companies
- December 09, 2018

That's one reason technology stocks, which have accounted for much of the market's gains in recent years, led the market's broad slide Friday. But the biggest drag on the markets was a 3.53 percent-slump in financials .SPSY as bond yields fell and bets of a rate hike were pushed lower. (more...)
Regulation for facial recognition technology must start in 2019: Microsoft President Regulation for facial recognition technology must start in 2019: Microsoft President
- December 09, 2018

The paper came after news that the secret service wants to test the technology around the white house. AI is believed to have been discussed at the summit which was also attended by President Donald Trump. "We and other tech companies need to start creating safeguards to address facial recognition technology". Microsoft on Thursday announced ethical principles for the use of its facial-recognition technology, saying it would bar such tech from being used to engage in unlawful ... (more...)
Data show a job market that's slowing, or at least pausing Data show a job market that's slowing, or at least pausing
- December 09, 2018

Sectors in which employment expanded included health care (up 32,000 jobs); professional and business services (up 32,000 jobs); manufacturing (up 27,000 jobs); and transportation and warehousing (up 25,000 jobs). Normal hourly profit rose six pennies, or 0.2 percent in November. Stocks have been mostly hurt by uncertainty whether a 90-day truce agreed by President Donald Trump and President Xi Jinping over the weekend will hold and lead to a lasting easing of trade tensions between the ... (more...)
Trump says China trade talks 'going very well' Trump says China trade talks 'going very well'
- December 09, 2018

On Wednesday, Trump tweeted that " very strong signals " were being sent by China regarding trade with the United States . The Ministry of Commerce said Thursday China will immediately start implementing agreements on agricultural products, energy and cars that were reached at the weekend summit between Chinese and US leaders over their ongoing trade dispute. (more...)
Treasury yields continue slide with traders wary of 'curve inversion' Treasury yields continue slide with traders wary of 'curve inversion'
- December 09, 2018

That particular inversion has preceded every recession since the late 1970s. One portfolio manager called the inverted yield curve a " harbinger of doom ". The swaps market has moved up the timing for when it sees the hiking cycle peaking, toward the end of 2019 or early 2020, a period when the Fed's own projections indicate tightening will still be under way. (more...)
Skoda Scala Hatchback Unveiled: Walkaround Skoda Scala Hatchback Unveiled: Walkaround
- December 09, 2018

The Scala's design was previewed by the striking Vision RS concept from this year's Paris motor show, but, unsurprisingly, it has been toned down for the production version. Skoda has also laid emphasis on making the Scala one of the safest option in its segment by fitting the vehicle with safety tech like lane assist, side assist, autonomous emergency braking, crew protect assist, adaptive cruise control and up to nine airbags. (more...)
Bank of Canada points to trade tensions as it leaves rates unchanged Bank of Canada points to trade tensions as it leaves rates unchanged
- December 08, 2018

The central bank's move Wednesday maintains its trend-setting rate at 1.75 per cent. Despite the hold, the central bank plans to continue the gradual tightening initiated in 2017. The bank said the Canadian economy had grown in line with expectations in the third quarter but data suggested less momentum going into the fourth quarter. (more...)
Fund bids $4.6 billion for Sears Fund bids $4.6 billion for Sears
- December 08, 2018

The hedge fund run by Sears chairman Edward Lampert is offering to buy much of Sears' remaining assets for about $4.6 billion with hopes of keeping the bankrupt retailer in business and continuing to employ about 50,000 of its workers. That could a concern for other creditors. The bid was made in response to a November 21 filing with the bankruptcy court on behalf of the debtors. The offer includes $950 million in cash through an asset-based loan facility and a "credit bid" of $1.8 billion. (more...)
France tops OECD list of most taxed countries France tops OECD list of most taxed countries
- December 08, 2018

Korea stood ninth in terms of taxes on property, with the tax-to-GDP ratio at 3.1 percent, higher than the OECD average of 1.9 percent. The French government's tax revenues were equivalent to 46.2% of its economic output, up from 45.5% in 2016 and 43.4% in 2000. (more...)
Ride-sharing startup Lyft files confidentially for US IPO Ride-sharing startup Lyft files confidentially for US IPO
- December 08, 2018

Securities and Exchange Commission ( SEC ). The firm is thought to be worth about $15bn (£11.75bn), while Uber is valued at about $120bn. However, sources told Reuters that the IPO would take place in the first half of next year. Although Lyft still ranks a distant second, it has been gaining market share during the past two years as Uber faced a backlash following revelations of rampant sexual harassment within its ranks, a cover-up of a major computer break-in, allegations of high-tech ... (more...)
China says it will carry out tariff cease-fire with US
- December 08, 2018

The ballooning trade deficit with China is a particularly sore point for Trump, who campaigned on turning around the situation. November exports only rose 5.4 per cent from a year earlier, Chinese customs data showed on Saturday (Dec 8), the weakest performance since a 3 per cent contraction in March, and well short of the 10 per cent forecast in a Reuters poll. (more...)
Marlboro maker places $2.4 billion bet on marijuana Marlboro maker places $2.4 billion bet on marijuana
- December 08, 2018

Cronos first murmured about Altria's potential takeover this week. " Altria is the ideal partner for Cronos Group , providing the resources and expertise we need to meaningfully accelerate our strategic growth", Cronos Group CEO Mike Gorenstein said. (more...)
Australia’s new anti-encryption laws are bad news for Apple Australia’s new anti-encryption laws are bad news for Apple
- December 08, 2018

The government says the laws, a world first, are necessary to help combat terrorism and crime. The laws are created to help security agencies and police access communications on encrypted applications like WhatsApp , which are used in an estimated 95 per cent of serious criminal activity. (more...)
Aston Martin DB6 Transformed Into Electric Beauty Aston Martin DB6 Transformed Into Electric Beauty
- December 08, 2018

Aston Martin Works has announced an official electric conversion program making the British marque, one of the first to do such work in-house. A "radical idea (that) mitigates possible future restriction of classic auto usage" is how the brand describes it - which is asking rather a lot of the word "radical' given that it has been well beaten to the punch - nevertheless, it promises to do exactly what it says on the tin, and Aston Martin has wheeled out an electrified 1970 DB6 MkII ... (more...)
Jeep Wrangler Scores 1-Star In Euro NCAP Jeep Wrangler Scores 1-Star In Euro NCAP
- December 08, 2018

Automatic emergency braking, lane-keeping assist and blind-spot monitoring system are some safety features that are lacking in the 2018 Jeep Wrangler . Other safety equipment includes driver and passenger airbags, side head airbags, and side chest airbags. The so-called vulnerable road users testing - mainly for pedestrians and cyclists - came in at 49 per cent, while safety assist was given at 32 per cent, with points earned for front and rear seatbelt reminders and driver-set speed ... (more...)
The Queen with George HW Bush The Queen with George HW Bush
- December 08, 2018

When the monarch visited George Bush Snr's son George W Bush in 2007 Washington during his presidential term, she was reunited with the former American leader at a return dinner she hosted at the ambassador's residence. "The exchange will observe a minute of silence to honor President Bush on Monday". Former President George H.W. Bush will lie in state in the Capitol Rotunda next week. (more...)
US jobs growth slows in November US jobs growth slows in November
- December 07, 2018

Nonfarm payrolls increased by 155,000 after a downwardly revised 237,000 gain in the prior month, a Labor Department report showed Friday. USA payrolls and wages rose by less than forecast in November while the unemployment rate held at the lowest in nearly five decades, indicating some moderation in a still-healthy labor market. (more...)
Fashion trade: Ted Baker shares plunge on CEO 'hugs' investigation Fashion trade: Ted Baker shares plunge on CEO 'hugs' investigation
- December 07, 2018

The company said in a statement: "Ray greets many people he meets with a hug, be it a shareholder, investor, supplier, partner, customer or colleague. "Trading conditions have been subdued, but Ted's positioning as a global lifestyle brand leaves it far better placed than most". Founder and CEO of Ted Baker, Ray Kelvin, who notoriously obscures his face as he poses for photos. (more...)
China is preparing to buy United States liquefied gas and soybeans again China is preparing to buy United States liquefied gas and soybeans again
- December 07, 2018

US markets were closed on Wednesday to observe former President George H.W. Bush's death, but the effect of Wall Street's turmoil the previous day was felt in Europe and Asia with the benchmark Shanghai stock index closing down 0.6 percent. (more...)
Asian Stock Rebounds Following China-US Trade Truce Asian Stock Rebounds Following China-US Trade Truce
- December 07, 2018

Regarding its effects on the market, futures contracts on the S&P 500 Index rose by as much as 1.9 percent within the first minutes of trading and have stayed relatively the same over the course of the trading day. The two-year yield touched 2.8251 per cent compared with a USA close of 2.833 per cent. This came after a major shareholder, Step Famous Investment which owns nearly 30 per cent of the company, made a cash offer to buy outstanding shares at 55 cents each, valuing Rivera at HK$1.43 ... (more...)
Battered Bitcoin Price Sets New Yearly Low at $3,310 — Newsflash Battered Bitcoin Price Sets New Yearly Low at $3,310 — Newsflash
- December 07, 2018

Bitcoin was struggling to maintain the support around $3600 from a few weeks after crashing down from $6500 to $4200 last month. Cryptocurrency analysts were predicting that the lowest level is still not achieved when bitcoin fell up to $3550. (more...)
VW Will Phase Out Internal Combustion Engines After The Next-Generation VW Will Phase Out Internal Combustion Engines After The Next-Generation
- December 07, 2018

Michael Jost, Volkswagen's head of strategy said that the firm's employees were working on "the last platform for vehicles that aren't Carbon dioxide neutral". That would be an increase from the five on sale in the United Kingdom today. The automaker's plan is tied not only to its own electrification strategy, but to the climate goals of 2050, which Jost indicated could only be achieved if not a single internal combustion auto is on the road in that year. (more...)

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