Business


British PM Theresa May should opt for no-deal Brexit: Nile Gardiner British PM Theresa May should opt for no-deal Brexit: Nile Gardiner
- January 16, 2019

Meanwhile, lawmakers from both government and opposition parties are trying to wrest control of the Brexit process from a paralyzed government, so that lawmakers by majority vote can specify a new plan for Britain's European Union exit. (more...)
Rundle: Theresa May defeated on crucial Brexit vote Rundle: Theresa May defeated on crucial Brexit vote
- January 16, 2019

She warned the result would only provide more uncertainty, and "tells us nothing" about what a majority of MPs actually support. The spokesman added that the Government was "quite clearly unable to govern", and said the "unprecedented" scale of the defeat made clear that "no amount of tweaking or talks on the detail are going to change that". (more...)
Saudi Aramco's bond will probably be in 10 billion range: energy minister Saudi Aramco's bond will probably be in 10 billion range: energy minister
- January 16, 2019

Saudi Arabia's top energy official expects the oil market to stabilize shortly, and says it's already "on the right track" after a rout in the last quarter of 2018. USA crude oil futures have rallied in recent weeks to trade above $51 per barrel. Crude producers in the US are pumping a record 11.7 million barrels a day, according to the Energy Information Administration. (more...)
McConnell looks to shift blame for shutdown to Pelosi McConnell looks to shift blame for shutdown to Pelosi
- January 16, 2019

Some 800,000 government employees have either been working without being paid or told to stay home since December 22. "We're here because the president reversed himself and the last speaker of the House failed to use his responsibility to put the Senate-passed bill on the floor". (more...)
After UK Parliament Rejects Brexit Deal, What Next? 3 Main Scenarios After UK Parliament Rejects Brexit Deal, What Next? 3 Main Scenarios
- January 16, 2019

There are several directions in which the Brexit saga can go now, ranging from a "no-deal Brexit" or "WTO-terms Brexit" to an extension of Article 50, not ruling out the chance of a second referendum. "We need to confirm whether this government still enjoys the support of the House", she said. The new Burnley hub will introduce more automation to the operational equation, promising efficiency gains that could act as a cushion for margins should Brexit uncertainty continue to dog the sector ... (more...)
Huawei founder denies spying for China in rare interview Huawei founder denies spying for China in rare interview
- January 16, 2019

Huawei Technologies has been in the wye of the storm recently. Huawei has plenty of opportunities even if it faces higher barriers in some markets, Ren said. And he played down Huawei's role in current tensions between Washington and Beijing, which have rattled investors and corporations worldwide. But Mr Ren dismissed those concerns, saying "no law in China requires any company to install mandatory backdoors [that could be used for spying]" and adding that there had been "no serious ... (more...)
Japan court denies bail to former Nissan chief Carlos Ghosn Japan court denies bail to former Nissan chief Carlos Ghosn
- January 16, 2019

In a nine-page letter to the Japan office of Human Rights Watch, Carole Ghosn alleged that prosecutors have subjected her husband to hours of daily interrogation in order to extract a confession . His lengthy detention has sparked global criticism of Japan's "hostage justice" system, which permits prosecutors to re-arrest suspects over separate allegations and keep them in detention for long periods with the aim of extracting a confession. (more...)
Cadillac shows off its nameless-for-now first full electric Cadillac shows off its nameless-for-now first full electric
- January 16, 2019

The company promises that the auto will feature advanced drive units and battery cells that work optimally in all of GM's diverse markets. Cadillac showed off images of its first full-electric vehicle mid-January, confirming reports the brand would be the one to launch GM's new BEV3 battery-driven vehicle platform, which will underpin a variety of body styles. (more...)
Ford to engineer and build bakkies for Volkswagen Ford to engineer and build bakkies for Volkswagen
- January 16, 2019

On the surface a match between Ford and VW match makes sense. Both companies are dealing with structural issues. Those include potential deals around development of electric or self-driving vehicles, as well as combining forces in markets including North America, South America, Europe or China. (more...)
Irish restaurant chain claims David vs Goliath trademark win over McDonald’s Irish restaurant chain claims David vs Goliath trademark win over McDonald’s
- January 16, 2019

Here's hoping after the Irish fast-food chain came the better of a tough legal battle with McDonald's on the European trademark on "Big Mac". McDonald's said it plans to appeal after losing some European Union trademark rights to the Big Mac name after a challenge by smaller Irish rival Supermac's . (more...)
Canadian air traffic controllers send pizza to USA colleagues working without pay Canadian air traffic controllers send pizza to USA colleagues working without pay
- January 16, 2019

The idea swept across Canada, wrote the Global News, with air traffic controllers from Vancouver to Toronto and beyond ordering savory pies for their colleagues in Seattle, Minneapolis and NY. "Pizza at the right time can be the best thing you've ever had", Lancaster said. This wasn't the only US air traffic control center to receive some cheesy goodness from their Canadian counterparts. (more...)
Brexit deal voted down by MPs in historic defeat Brexit deal voted down by MPs in historic defeat
- January 16, 2019

British Prime Minister Theresa May has unloaded on Labour chief Jeremy Corbyn , accusing her left-wing opponent of shirking his responsibility as opposition leader and flip-flopping on key issues. With the clock ticking down to March 29, the date set in law for Brexit, the United Kingdom is now ensnared in the deepest political crisis in half a century as it grapples with how, or even whether, to exit the European project that it joined in 1973. (more...)
Will Brexit happen? If Theresa May LOSES, will she CANCEL Brexit? Will Brexit happen? If Theresa May LOSES, will she CANCEL Brexit?
- January 15, 2019

May has survived hard weeks in the past - including a confidence vote in her leadership by her own MPs last month - but the potential for disaster this coming week is largely of her own making. - No deal Brexit: If Theresa May loses and Parliament can not come together behind an alternative, the United Kingdom will leave the European Union on March 29 without a deal. (more...)
Newmont's $10B offer would create world's biggest gold miner Newmont's $10B offer would create world's biggest gold miner
- January 15, 2019

In Australia, Newmont owns half of the Kalgoorlie Super Pit, the Boddington gold mine in Western Australia, and the Tanami operation in the Northern Territory. Newmont Goldcorp will also divest between US$1 billion and $1.5 billion of assets over two years to optimize gold production of six to seven million ounces annually. (more...)
China Oil Imports Up 30% In December, Gas Imports Hit Record
- January 15, 2019

China's December exports unexpectedly fell 4.4 percent from a year earlier, the biggest monthly drop in two years, official data showed on Monday, pointing to further weakening in the world's second-largest economy. China's global trade volume rose past year but its surplus with the world fell 16.2% to $351.76 billion in 2018, as imports rose 15.8% while exports gained 9.9%. (more...)
Airport security no-shows are soaring as shutdown enters 4th week Airport security no-shows are soaring as shutdown enters 4th week
- January 15, 2019

The airport is adding more "live music at all of our checkpoints to help ease tensions for passengers", spokeswoman Elise Durham said in an email. It said the national unscheduled absence rate of TSA staff on January 3 was 4.8 per cent compared to 6.3 per cent on the same day previous year. (more...)
Netizens in Stitches as Trump Nicknames Bezos 'Jeff Bozo' Amid Sexting Scandal Netizens in Stitches as Trump Nicknames Bezos 'Jeff Bozo' Amid Sexting Scandal
- January 14, 2019

President Donald J. Trump delivers the State of the Union address in the chamber of the U.S. House of Representatives January 30, 2018 in Washington, DC. The Enquirer is a longtime ally of Trump's, and its publisher admitted in December to having bought the rights to ex-playmate Karen McDougal's story of an affair with Trump so it could quash it using a "catch and kill" deal. (more...)
United Kingdom family forced to sit on floor on flight
- January 14, 2019

But for one British family returning from a summer vacation past year, all these minor inconveniences pale in comparison to the nightmare flight they experienced traveling with TUI airlines. Paula Taylor, from Alcester, Warwickshire, told BBC One's Rip-Off Britain, Holidays: 'It's hard and it's uncomfortable and it's just filthy. TUI told the BBC it had offered the family a $1,667 refund. (more...)
Slump in Chinese exports fuels fears for global demand
- January 14, 2019

China imported 30 percent more crude oil in December than a year earlier, Reuters reports, citing fresh customs data. In 2017, the trade difference between the two world's largest economies was $275.8 billion in China's favor. The customs administration said it will work to "improve the country's business environment and expand foreign trade in order to keep employment, the financial sector, foreign trade, foreign investment" stable. (more...)
Shutdown halts food inspections Shutdown halts food inspections
- January 14, 2019

The federal government's partial shutdown is taking a bite out of the FDA's ability to ensure the safety of American food, forcing the agency to shift inspections toward products it considers high risk. The agency said all imported foods will continue to be inspected and that critical functions, such as monitoring for food poisoning outbreaks , remain up and running. (more...)
Concept This Is Cadillac's New Electric Crossover Concept This Is Cadillac's New Electric Crossover
- January 14, 2019

The General Motors Co. luxury brand will start building the vehicle after its current parade of new models hits the market by 2021, Cadillac President Steve Carlisle said during a press event on the eve of the North American International Auto Show in Detroit . (more...)
Mnangagwa in Russian Federation amid fuel protests in Zimbabwe Mnangagwa in Russian Federation amid fuel protests in Zimbabwe
- January 14, 2019

Soldiers were deployed at a shopping centre in Bulawayo's township of Entumbane, where protesters looted shops. Industries in Zimbabwe have been denied access to foreign currency since October and companies have been forced to source dollars illegally on the black market, the CZI said in a letter to government. (more...)
China's exports shrink most in two years, raising risks for global economy
- January 14, 2019

However, customs' data for December also showed that exports to the U.S. dropped 3.5 percent compared with December of the previous year, possibly due to United States tariffs on an array of Chinese goods. China exports to the USA declined 3.5 per cent in December while its imports from the United States were down 35.8 per cent for the month. China has retaliated with tariffs of its own. (more...)
PG&E Bankruptcy Filing Looming PG&E Bankruptcy Filing Looming
- January 14, 2019

The CEO of Pacific Gas and Electric resigned Sunday and employees could learn this week if the utility will declare insolvency while facing billions of dollars in liability over its role in recent California wildfires . The 150-year-old company said: "We recognise that the devastating and unprecedented Northern California wildfires of 2017 and 2018 have had a profound impact on our customers and their communities". (more...)
Elon Musk’s SpaceX to ‘part ways’ with some of it manpower Elon Musk’s SpaceX to ‘part ways’ with some of it manpower
- January 14, 2019

The company said it will "part ways" with some of its employees as it faces "extraordinarily hard challenges ahead". Still, the announcement came as SpaceX launched a Falcon 9 rocket from Vandenberg Air Force Base in California on Friday, carrying 10 communications satellites. (more...)

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