Business


Samsung forecasts huge profit drop on slower smartphone and chip sales Samsung forecasts huge profit drop on slower smartphone and chip sales
- January 08, 2019

It forecasts revenue will decline 11% to 59 trillion won. Samsung's memory and processor chips, which account for over three-quarters of its earnings and about 38 percent of sales, power smartphones including those from China's biggest handset maker Huawei Technologies Co . (more...)
Brabham BT62: 700bhp hypercar to gain road-legal option Brabham BT62: 700bhp hypercar to gain road-legal option
- January 08, 2019

But the Australian-based firm says it will offer a Road Compliance Conversion option to buyers in the European market. For all intents and purposes, the road legal BT62 will not be part of a separate production run, but rather the same track vehicle, only trimmed down a bit in terms of performance and specs as to avoid causing problems for its owner once out in the world. (more...)
Hyundai Elevate Concept Will Drive And Walk Anywhere To Save Lives Hyundai Elevate Concept Will Drive And Walk Anywhere To Save Lives
- January 08, 2019

The Hyudai Elevate, as described by the company, blends technology found in electric cars and robots that allows it to traverse terrain beyond the limitations of even the most capable off-road vehicle . We've been intrigued by Hyundai's "walking car" concept ever since the automaker teased it last week. Hyundai has been working on the concept with industrial design consultancy Sundberg-Ferar for three years. (more...)
U.S. House committee queries airport staffing during shutdown U.S. House committee queries airport staffing during shutdown
- January 08, 2019

According to his tweet , 5.5 percent of the agency's workforce at Dallas/Fort Worth International Airport called out sick on Friday compared to the usual 3.5 percent. Nationwide, 99.8 percent of passengers waited less than 30 minutes in airport security lines on Sunday, an historically busy day due to holiday travel, while 90.1 percent waited less than 15 minutes, according to a TSA spokesman. (more...)
Handcuffed and roped up, Carlos Ghosn will address court in person Handcuffed and roped up, Carlos Ghosn will address court in person
- January 08, 2019

Tuesday's hearing itself caught observers off-guard as Ghosn's lawyers deployed a rarely-used article of the Japanese Constitution to force the court to explain the reasons for his detention. in payments over four years from Nissan "were for legitimate business purposes in order to support and promote Nissan's business strategy in the Kingdom of Saudi Arabia, and included reimbursement for business expenses". (more...)
China's population likely to shrink from 2030 China's population likely to shrink from 2030
- January 08, 2019

Its elderly population has increased from 3.76 percent to 8.40 percent since 2010, and the country's total population will begin to show negative growth around 2028, according to the report. This was disputed by demographer He Yafu, a longtime birth policy reform advocate often quoted in Chinese media, who claimed it was "not very likely" that deaths had yet outnumbered births, and estimated negative population growth might occur in 2023 at the earliest. (more...)
Tesla breaks ground on China factory for Model 3 and Model Y Tesla breaks ground on China factory for Model 3 and Model Y
- January 08, 2019

While the ceremony marked a new journey for Tesla, it comes at a point where China's economy is showing signs of strain amid the trade war with the U.S. Negotiations aimed at resolving the bitter trade dispute between United States and China taking place in Beijing this week. "This week, we've started taking online orders for Model 3 in China, so that customers can configure their vehicle to take delivery in the weeks ahead, and Gigafactory 3 is another example of Tesla's commitment to the ... (more...)
Japanese billionaire uses his money to gain 'most retweeted post' honor
- January 07, 2019

The requirement was to follow him and RT the tweet. The number of people following Maezawa's account surged from around 500,000 at the end of last week to more than 4.5 million by Monday lunchtime, according to the Japan Times. Mr Maezawa first became famous as the drummer in punk band Switch Style, but made his fortune in the fashion world. The previous record holder for retweets was a college student in the U.S. (more...)
World Bank President Jim Yong Kim resigns World Bank President Jim Yong Kim resigns
- January 07, 2019

Mr Kim's announcement is coming more than three years ahead of the end of his tenure in 2022. Kim intends immediately to join a firm to focus on increasing infrastructure investment in developing countries, the bank said, without providing further details on the position. (more...)
PG&E Bankruptcy Talk Sets Stage for Showdown With California PG&E Bankruptcy Talk Sets Stage for Showdown With California
- January 07, 2019

The filing isn't certain, the people said , but it may be enough to force the hand of state legislators who could come up with a rescue package. California lawmakers have passed a law that would protect the company from the 2017 fire and fires in 2019 and after but not the 2018 fire. (more...)
Lotto multimillionaire from Surrey says jackpot win an 'amazing blessing' Lotto multimillionaire from Surrey says jackpot win an 'amazing blessing'
- January 07, 2019

In the South Coast region and specifically Delta, Christina Sevenoaks won a jackpot of $7 million in March playing Lotto 6/49. Also, there was no victor of the Lotto Plus One draw prize of €1 million, with just one victor of the next prize, matching five numbers plus the bonus, and netting €5,000. (more...)
Bob Neill Insists Majority Of Conservatives Back Theresa May's Brexit Deal Bob Neill Insists Majority Of Conservatives Back Theresa May's Brexit Deal
- January 07, 2019

May's Brexit deal is unpopular with British lawmakers across the spectrum, and the main sticking point is the insurance policy known as the "backstop" - a measure that would keep the United Kingdom tied to European Union customs rules in order to guarantee there is no hard border between the Republic of Ireland, an European Union member, and the U.K.'s Northern Ireland, which won't belong to the bloc after Brexit. (more...)
China officials to begin trade war talks in Beijing China officials to begin trade war talks in Beijing
- January 07, 2019

Mr. Trump and Chinese President Xi Jinping agreed to halt any further tariff increases for 90 days beginning January 1. The American side is led by a deputy USA trade representative, Jeffrey D. Trump said on Sunday that trade talks were going very well and that weakness in the Chinese economy gave Beijing a reason to work toward a deal. It's possible that if Trump, who's making his second trip to Davos as president, doesn't meet with Wang, one or more of his top trade lieutenants will ... (more...)
Musk: Tesla to break ground on Shanghai factory today:The Asahi Shimbun Musk: Tesla to break ground on Shanghai factory today:The Asahi Shimbun
- January 07, 2019

As you may dimly recall, the trouble between them started way back when Azealia Banks was invited to Musk's house to collaborate with Grimes , and instead spent a weird weekend there watching him "scrounging for investors" on his phone as his girlfriend "coddled" him. (more...)
GM, DoorDash To Test Food Deliveries In Self-Driving Cars 01/04/2019 GM, DoorDash To Test Food Deliveries In Self-Driving Cars 01/04/2019
- January 07, 2019

Merchants will load the self-driving auto with a food order and the vehicle will drive to the customer. The level of quality of such delivery. The pilot will commence in "early 2019", the companies said, but it will only be available in the section of the city where Cruise has been testing its vehicles. (more...)
Federal Reserve is flexible and aware of risks, says Powell Federal Reserve is flexible and aware of risks, says Powell
- January 07, 2019

Powell denied the criticism that the Fed's gradual reduction of its holdings of Treasuries, mortgage bonds and other assets - amounting to 4.5 trillion dollars when the Fed began its balance sheet normalization program in October 2017 - had exacerbated the stock market turbulence in the fourth quarter of 2018. (more...)
Governor calls off planned shutdown of NYC subway line Governor calls off planned shutdown of NYC subway line
- January 07, 2019

After taking an impromptu late-night tour of the L train's underwater tunnel last month, the governor made a decision to develop his own approach to rebuilding the tunnel beneath the East River. Finally, a "smart sensor" network of fiber-optic cables will be installed to monitor the bench wall's movement and alert the MTA to potential maintenance issues. (more...)
US jobs growth jumps in December US jobs growth jumps in December
- January 06, 2019

Fears over a slowing world economy last month caused stock prices to tumble and confidence waned among corporations who foresee dwindling demand and weakening sales in 2019. The data was welcomed by Wall Street, which had been in a downward spiral since the end of a year ago over concerns the Federal Reserve would continue to raise rates with the economy slowing. (more...)
Chesterfield Greggs store slammed for not having any vegan sausage rolls Chesterfield Greggs store slammed for not having any vegan sausage rolls
- January 06, 2019

The baked snack proved to be a point of contention for some, as Piers Morgan called Greggs "PC-ravaged clowns". Greggs have been contacted for a comment. A meat one. Real meat. "Like many food retailers we have seen increasing demand for vegetarian and vegan products". Vegan puff pastry made from vegetable oils surrounds the sausage, and the usual milk which gives the savoury treat a glossy finish has been ditched completely. (more...)
Northeast BC unemployment rate has slight increase in December
- January 06, 2019

The West Coast was second only to Ontario (+17,600) in terms of gains among provinces, while Alberta was cut deep with job losses mounting to 16,900. Canada created more new jobs previous year than economists had predicted. At year end, the unemployment rate among this age group was 4.6 per cent for women and 4.8 per cent for men. The province's overall rate increased by just 0.1 per cent in December to 6.4 per cent. (more...)
Marriott says hack was smaller but hit 5.25m passports Marriott says hack was smaller but hit 5.25m passports
- January 06, 2019

Marriott now believes that approximately 8.6 million encrypted payment cards were involved in the incident. After more than a month of investigation and forensics work, the company has lowered that number to about 383 million people, but also said that several million unencrypted passport numbers were taken during the breach. (more...)
Girl Scout cookie season now underway Girl Scout cookie season now underway
- January 06, 2019

It's certified "gluten-free"- making it the second gluten free cookie. We're just happy that the Girl Scouts added this new delicious flavor instead of removing one of the classics - can you imagine if they took the peanut butter Tagalongs away? In Lunenberg, Vt., a Girl Scout troop built shelving for the Gilman Food Shelf as its Bronze Award project. (more...)
China cuts bank reserve requirement to spur economy amid trade war China cuts bank reserve requirement to spur economy amid trade war
- January 06, 2019

China slashed reserve requirements four times in 2018 to free up more funds for banks to lend and analysts expect three to four more cuts this year starting in the current quarter. Implementing the cut in two phases ensures "overall banking liquidity stays reasonable and sufficient while balancing internal and external factors to keep the yuan's exchange rate at a reasonable and equilibrium level", it said. (more...)
Ford recalls 953,000 vehicles in North America Ford recalls 953,000 vehicles in North America
- January 06, 2019

National Highway Traffic Safety Administration took over management of recalls involving Takata inflators, one third of the recalled inflators still have not been replaced, according to an annual report from the government and a court-appointed monitor. (more...)
Rio Tinto (RIO) Shares Gap Down to $48.48 Rio Tinto (RIO) Shares Gap Down to $48.48
- January 06, 2019

The stock price performed -4.99% in the past week. Overall, 3.15 Million shares exchanged hands versus its average volume of $2.88 Million. An important idea when dealing with technical analysis is that historical stock price movements tend to repeat. (more...)

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