Business


Look Out Below: Wall Street Suffers More Losses After Trump's Shutdown Threat Look Out Below: Wall Street Suffers More Losses After Trump's Shutdown Threat
- December 22, 2018

Stocks usually end the year with a flourish, and December is usually the best month of the year for the market. The Nasdaq plummeted 3 percent, closing in its first bear market since the Great Recession. The Dow Jones Industrial Average fell 118 points, or 0.5 percent, to 23,191. The technology index sank 1.54 percent, while communication services, which houses high-growth names such as Facebook Inc and Alphabet Inc, dropped 2.2 percent. (more...)
Ford recalls more than 410,000 pickup trucks due to possible fire risk Ford recalls more than 410,000 pickup trucks due to possible fire risk
- December 22, 2018

The recall affects F-150 trucks from 2015-2019 built at plants in MI and Missouri and 2017-2019 F-series Super Duty vehicles built in Kentucky and Ohio. As part of the recall, dealers will inspect the engine block heater cable and replace it if it shows signs of damage or corrosion. Ford is aware of three fires, but no accidents or injuries related to the issue. (more...)
Nissan boss Carlos Ghosn rearrested on new charge Nissan boss Carlos Ghosn rearrested on new charge
- December 22, 2018

Mr Ghosn, 64, and Greg Kelly, an American lawyer and former Nissan executive, have been charged with conspiring to hide from regulators ¥5 billion (£35 million) of pay agreed for the Nissan chairman between 2010 and... Ghosn has denied wrongdoing. Prosecutors alleged that Ghosn put his personal investment loss during the Lehman crisis on to Nissan, according to Japanese reports. (more...)
Federal Reserve hikes United States interest rates in defiance of Donald Trump Federal Reserve hikes United States interest rates in defiance of Donald Trump
- December 22, 2018

Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, said Fed Chairman Jerome Powell didn't appear concerned about the state of the US economy despite deepening worries among investors that growth could slow even more. (more...)
DIPP takes up angel tax notices with revenue department DIPP takes up angel tax notices with revenue department
- December 21, 2018

The meeting decided that the issue of recognition of these start-ups including the issue of premium will be decided on the basis of recommendations of a committee of eminent experts drawn from institutions like IIT, IIM, which will soon be set up by the DIPP on the grant of tax exemptions and other connected matters. (more...)
Ottawa provides $1.6B to oil and gas sector Ottawa provides $1.6B to oil and gas sector
- December 21, 2018

The federal monies include direct aid and export development loans to help the sector "diversify export markets for its resources beyond the United States", according to a statement. "Together we can build a stronger Alberta (and) a more prosperous Canada". In recent days, there have been demonstrations and protests around the province, demanding Canada step up to help Alberta's oil industry given its broader beneficial impact on the national economy. (more...)
Asian markets slump after Fed hikes rates Asian markets slump after Fed hikes rates
- December 21, 2018

The S&P 500 index was down about 1.6 percent in late afternoon trading. Wednesday's rate hike marked the fourth increase of 2018, and the ninth such move since Q4 2015, when the central bank started to unwind the easy-money policy known as quantitative easing, which effectively brought rates to near zero and kept them low during the recovery from the 2008 recession. (more...)
The comedy of errors! Amazon let an Alexa-user eavesdrop on recordings The comedy of errors! Amazon let an Alexa-user eavesdrop on recordings
- December 21, 2018

It's not uncommon for people to struggle with Amazon Alexa - but possibly not quite like one customer in Germany. In fact, you can check what you've said to Alexa at amazon.com/alexaprivacy and delete portions or the entirety of the stored audio files. (more...)
Japan court denies extended detention of Nissan's Ghosn Japan court denies extended detention of Nissan's Ghosn
- December 21, 2018

If a bail request by his lawyer is accepted by the court, Ghosn may be released as early as Thursday. The decision by the Tokyo District Court on Thursday means Ghosn, one of the global vehicle industry's most powerful leaders, may soon be released from jail where he has been confined since his arrest for alleged financial misconduct. (more...)
Treasury Dept. sanctions 15 Russian intelligence officials Treasury Dept. sanctions 15 Russian intelligence officials
- December 21, 2018

The US Department of Treasury announced today (Dec. 19) that it is planning to lift sanctions imposed on three Russian companies controlled by a Russian oligarch who's come up in the special counsel investigation into Russian meddling in the 2016 presidential election. (more...)
Tilray Shares Jump On The Back Of Novartis Partnership Tilray Shares Jump On The Back Of Novartis Partnership
- December 21, 2018

Under its original agreement , announced in January 2018 after several months of talks, the companies began shipping non-combustible medical products with the Tilray and Sandoz/Novartis brands to customers in Canada last June. The agreement will also promote education for doctors and pharmacists on medical cannabis products. Shares of Tilray shot up 16.1 percent in Tuesday's trading session, while during after-hours trading the company was up just over 1 percent. (more...)
Uncertainty mounts as Congress seeks to avoid shutdown Uncertainty mounts as Congress seeks to avoid shutdown
- December 20, 2018

If House Republicans fail to amend the bill to include an additional $5 billion for border wall funding, then President Trump should veto the bill. "We have to see what the House does", he said . "The administration can not reprogram funds appropriated by Congress for the full wall without our assent, to do so would violate Congress' Article I powers", Senate Minority Leader Chuck Schumer (D-N.Y.) said on the floor Wednesday. (more...)
Ford noise canceling dog kennel Ford noise canceling dog kennel
- December 20, 2018

Fortunately, Ford has come up with a solution . Natural rumbles in the sky from thunderstorms can also result in panic and fearful trembling, causing equally distressed families to wrap their companions in a continuous calming hug courtesy of a tight-fitting vest or jacket. (more...)
Uber restarts modified self-driving testing in Toronto focused on AI Uber restarts modified self-driving testing in Toronto focused on AI
- December 20, 2018

The company has no plans to resume picking up passengers in the robot cars, a service Uber launched in 2016. Raquel Urtasun, chief scientist at Uber Advanced Technologies Group in Toronto, said in an interview that since the incident Uber has reviewed safety measures company-wide, including at the research group. (more...)
Tobacco Giant Altria Just Made a $12.8 Billion Investment in Juul Tobacco Giant Altria Just Made a $12.8 Billion Investment in Juul
- December 20, 2018

With a $12.8 billion investment, Altria, the nation's leading tobacco company, now owns 35% of Juul Labs , maker of the country's most popular e-cigarette. Head on over to Altria for more details about the full story. The startup has positioned itself as a technology company on a mission to help addicted smokers quit tar-burning cigarettes. (more...)
PM: Canada Looking for a Way Out of Saudi Arms Deal PM: Canada Looking for a Way Out of Saudi Arms Deal
- December 20, 2018

However, the Trudeau government has so far resisted attempts to alter or suspend the agreement with Saudi Arabia, with Trudeau himself saying last month that cancelling the deal would force Canadians to foot a billion-dollar bill . Canada is looking into ways to cancel a giant 2014 weapons deal with Saudi Arabia, Prime Minister Justin Trudeau said today, as criticism mounts over the kingdom's role in the murder of journalist Jamal Khashoggi and the Riyadh-led war in Yemen. (more...)
German court bans some iPhone sales over Qualcomm dispute German court bans some iPhone sales over Qualcomm dispute
- December 20, 2018

As a result, Apple will stop selling its iPhone 7 and 8 handsets in that country. We are of course disappointed by this verdict and we plan to appeal ... For what it's worth, Qorvo's chip was not found to infringe on Qualcomm patents in the U.S. This is the second major iPhone sales ban for the firm: A China-based court has banned the sale of all iPhones in that country, but Apple has yet to comply beyond updating its iOS software. (more...)
US Senate approves bill to avert government shutdown US Senate approves bill to avert government shutdown
- December 20, 2018

Fake News silent!" As lawmakers continue to try to figure out how to keep all of the government open, the president is promising to build a border wall with Mexico "one way or the other". Brian Kolfage , 37, had raised almost a $1 million of his $1 billion goal on a GoFundMe page titled "We The People Will Fund The Wall" as of Wednesday evening. (more...)
Triple amputee veteran raises almost $1 million to build Trump's wall Triple amputee veteran raises almost $1 million to build Trump's wall
- December 20, 2018

Trump did not appear to make any public statement or social media post on Coulter's criticism, however, or his decision to drop his following tally from 46 to 45. A Gofundme titled " We The People Will Fund The Wall " has raised $1 million by more than 16,000 people since it began Monday, reportedly by a Miramar, Fla., "fundraising team", the campaign says. (more...)
Anheuser Busch InBev enters cannabis market | CMO Strategy Anheuser Busch InBev enters cannabis market | CMO Strategy
- December 20, 2018

Canada legalised recreational marijuana in October, leading to a surge in interest from beer and tobacco companies looking to invest in the market. "As consumers in Canada explore THC and CBD-infused products, our innovative drive is matched only by our commitment to the highest standards of product quality and responsible marketing", said Labbatt Breweries of Canada president Kyle Norrington. (more...)
Musk’s Test Tunnel Revealed, Transportation as Anything but Boring Musk’s Test Tunnel Revealed, Transportation as Anything but Boring
- December 20, 2018

Just recently, The Boring Company finished its 1.14-mile test tunnel in Hawthorne, so Musk invited folks from the media to test out the tunnel in a Tesla Model X. In addition to Tesla and SpaceX, Elon Musk founded The Boring Company, which is looking into ways to make public transportation faster than it now is. (more...)
Immigration plans denounced as 'an act of vandalism' Immigration plans denounced as 'an act of vandalism'
- December 20, 2018

Philip Hammond , the chancellor, and Greg Clark, business secretary , who led the revolt, now expect employers' groups to lobby hard to slash the prime minister's preferred £30,000 threshold. FSB NI policy chair Tina McKenzie said it was crucial that any future salary threshold for migrant workers reflected the trend for lower wages here. (more...)
China marks 40th anniversary of economic opening up China marks 40th anniversary of economic opening up
- December 20, 2018

Chinese Premier addressed the Communist Party members on the occasion of China's "reform and opening up" policy at Tiananmen Square in Beijing , where the leader promised the people of the country with more economic reforms in the near future, Al Jazeera reported. (more...)
Glitter justice: Elaborate porch thief prank goes viral Glitter justice: Elaborate porch thief prank goes viral
- December 20, 2018

A porch pirate in California thought he scored with a fancy electronic gadget, but was instead hit with a glitter bomb developed by a former NASA engineer. The circuit board, which controls the device, complete with Global Positioning System locator and an accelerometer. When they open the stolen "package" it sprays them with a fog of fine glitter and five squirts of fart spray. (more...)
Facebook Let Other Companies Read Your Private Messages Facebook Let Other Companies Read Your Private Messages
- December 20, 2018

Facebook is facing another backlash over privacy concerns after a report claiming the company provided more than 150 businesses, including a Canadian bank, with deep access to personal data, without users' consent. Facebook says that only user data set to "public" was accessible to Microsoft. Facebook is still denying any wrongdoing, telling The Hollywood Reporter that "at no time did we access people's private messages on Facebook, or ask for the ability to do so". (more...)

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