Business


Trump Offers Concessions on Immigrants in Return for Wall Funds Trump Offers Concessions on Immigrants in Return for Wall Funds
- January 20, 2019

The senior administration official told CNN that this proposal remains fluid and could change. West Virginia Democratic Sen. President Donald Trump says he'll be making a "major announcement" on the government shutdown and the southern border on Saturday afternoon as the standstill over his border wall continues into its fifth week. (more...)
Primark cheered by Christmas trading that exceeded its expectations Primark cheered by Christmas trading that exceeded its expectations
- January 20, 2019

In the UK, Primark's core market, sales were 1.0% higher despite challenges to the country's retail market, which "declined year-on-year". Our outlook for the group is unchanged, with adjusted operating profit and adjusted earnings per share for the year expected to be in line with last year. (more...)
Retail sales slide in December amid changing shopping habits Retail sales slide in December amid changing shopping habits
- January 20, 2019

Commenting on Friday's retail sales figures, ONS head of retail sales Rhian Murphy said: "Retail sales fell back slightly in the last three months of 2018 with only petrol stations seeing significant growth". December overall online sales grew by 14% on the same month a year ago, accounting for 20% of the total retailing in the month. "December was the third month of growth in high street footfall across the region". (more...)
Mukesh Ambani invokes Gandhi, calls for revolution against data colonisation Mukesh Ambani invokes Gandhi, calls for revolution against data colonisation
- January 20, 2019

This, the company said, was largely because of higher price realisations in its petrochemical, telecom and retail sectors. "Gujarat is Reliance's Janmabhoomi (birthplace) as well as its Karmabhoomi (workplace)". Reliance Industries, the Mumbai-headquartered conglomerate owned by Mr Ambani, is drawing up plans to roll out its online shopping services to 1.2m retail businesses in western India as competition to grab a share of India's fast-developing e-commerce industry intensifies. (more...)
Rio Tinto’s 2019 iron ore guidance at lower end of forecasts Rio Tinto’s 2019 iron ore guidance at lower end of forecasts
- January 20, 2019

The average realised price of iron ore sales dropped by 4% to US$62.50 per dry metric tonne. 'Following a plant fire at the port of Cape Lambert A on 10 January, Rio Tinto expects limited disruption to Robe Valley lump and fines shipments, which is reflected in the above guidance, ' it added. (more...)
Sears chairman prevails in bankruptcy auction for retailer with $5.2 bln bid Sears chairman prevails in bankruptcy auction for retailer with $5.2 bln bid
- January 20, 2019

For the most comprehensive local coverage, subscribe today. Sears confirmed Thursday, Jan. 17, that chairman and largest shareholder Eddie Lampert's hedge fund has won tentative approval for a $5.2 billion plan to buy 425 stores and the rest of its assets. (more...)
Aurora Cannabis Inc. (ACB) EPS Estimated At $-0.04 on February, 14 Aurora Cannabis Inc. (ACB) EPS Estimated At $-0.04 on February, 14
- January 20, 2019

While investors may be disappointed with the dilution associated with the new debt offering, the company could win back some market confidence if the cash infusion helps get its revenue growth trends back on track. Currently, the 200-day MA is sitting at 5.24, and the 50-day is 4.41. The 20 day Chaikin Money Flow indicator for Aurora Cannabis Inc . A reading from -80 to -100 would indicate an oversold situation. (more...)
Powerful Winter Storm Sweeps East After Blanketing The Midwest Powerful Winter Storm Sweeps East After Blanketing The Midwest
- January 20, 2019

Ice was also a possibility in some areas in the path of the storm , which was forecast to dump up to 2 feet of snow. New Jersey Gov. Phil Murphy announced a state of emergency Friday , which kicks in on Saturday. The storm was expected to dump up to 2 feet (60 cm) of snow on the Northeast starting on Saturday evening, with snowfall likely to last until Monday in upstate NY and Maine, Otto said. (more...)
Oil climbs 1pc on OPEC output cut, but U.S. production robust Oil climbs 1pc on OPEC output cut, but U.S. production robust
- January 20, 2019

Brent for March settlement advanced 2.5% to close at $62.70 the London-based ICE Futures Europe exchange The global benchmark crude traded at an $8.66 premium to WTI for March. Meanwhile, US production rose considerably more than expected last year, adding further to supplies, while concerns about demand emerged as the US-China trade spat deepened in the second half of last year. (more...)
Aer Lingus Boss Confident Of 'Business As Usual' In No-Deal Brexit Aer Lingus Boss Confident Of 'Business As Usual' In No-Deal Brexit
- January 19, 2019

Overall, Aer Lingus plans to grow its A330 fleet to 16 aircraft (from 13 in 2017) and invest in 14 new A321LRs to provide capacity for growth across the Atlantic and within Europe. "Re-imagining this great brand was both challenging and stimulating", said Aer Lingus CEO Seán Doyle. The brand refresh is being rolled out today (17 January) across all brand platforms, with a new website design and new app design. (more...)
China Reportedly Offered to Go On Spending Spree to Cut Trade Deficit China Reportedly Offered to Go On Spending Spree to Cut Trade Deficit
- January 19, 2019

Neither Mnuchin nor Lighthizer has made any recommendations with respect to tariffs or other parts of the negotiations with China, said a department spokesperson working with the administration's trade team, who characterized the talks as an ongoing process. (more...)
Patisserie Valerie owner loses deputy chairman after discovering accounting black hole Patisserie Valerie owner loses deputy chairman after discovering accounting black hole
- January 19, 2019

Mr Ginsberg stepped down from his position as chairman of the company's audit committee in December to be replaced by new board member Jeremy Jensen. Chris Marsh, the company's former chief financial officer, was arrested and bailed shortly after the fraud was uncovered. (more...)
John Bogle, founder of Vanguard, dies at 89 John Bogle, founder of Vanguard, dies at 89
- January 19, 2019

Brennan, who joined the company in 1982 as Mr. Bogle's assistant. He popularized and became the leading proponent of indexing, the practice of structuring an investment portfolio to mirror the performance of a market yardstick, like the S&P 500 stock index. (more...)
US Stock Edge Higher As Health Care And Industrials Rise US Stock Edge Higher As Health Care And Industrials Rise
- January 19, 2019

Wealth Management had net revenues of $4.14 billion, a decrease of 6%. Meanwhile, Investment Management segment surpassed expectations for revenues of $656.7 million after posting $684 million. Sell-side analysts expect that Morgan Stanley will post 4.86 earnings per share for the current year. Morgan Stanley share price is down, similar to other banks, like Wells Fargo and JP Morgan Chase . (more...)
Saudi energy minister 'very optimistic' about oil market Saudi energy minister 'very optimistic' about oil market
- January 19, 2019

Instead of generating all that electricity in Saudi Arabia , the kingdom will make solar panels, turbines, windmill blades and other equipment, Turki Alshehri, head of the energy ministry's renewables office, said in an interview. This strategy will help the Kingdom save up to two million barrels of oil daily by 2030, he added, without providing details on the expected costs of the program. (more...)
Sydney mum's simple wish list after winning entire $100m Powerball prize Sydney mum's simple wish list after winning entire $100m Powerball prize
- January 19, 2019

The victor recounted how she came to hold the division one winning entry. They'll get a whole slab of money! "All the win gives me is the chance to go and do the things I've always want to do. A Sydney woman is more than $100 million richer after becoming the only victor of last night's Powerball jackpot - but she has no plans to give up her day job. (more...)
Lotus looking to build cars in China Lotus looking to build cars in China
- January 19, 2019

Lotus said a China plant would be in addition to its production facility at Hethel, Norfolk, England. Lotus now builds cars by hand in a historic facility located in Hethel, England. The plant has been approved to build various types of vehicles, from traditional combustion cars to hybrids and all-electric vehicles. Further investigation by the news agency revealed that Geely is already advertising for at least 20 Wuhan-based roles connected to Lotus on its website. (more...)
Ford Confirms Hybrid And All-Electric F-150 Ford Confirms Hybrid And All-Electric F-150
- January 19, 2019

This isn't just any truck: The F-150 just happens to be the best-selling vehicle in the United States 4 decades running. Depending on when it arrives, the electric F-150 could be the first pickup of its kind to go on sale in America; Rivian says it will start delivering its R1T pickup here in "late 2020" and Tesla head Elon Musk said the company "might" reveal its electric truck sometime in 2019. (more...)
Startups write to PM, seek abolition of 'Angel Tax' Startups write to PM, seek abolition of 'Angel Tax'
- January 19, 2019

The application of the recognised startup shall be moved by the department to the Central Board of Direct Taxes ( CBDT ) with necessary documents. The new procedure says that to seek the exemption, a startup will apply, with all the documents, to the Department of Industrial Policy and Promotion (DIPP ). (more...)
Ghosn received $9m improperly from Nissan-Mitsubishi JV Ghosn received $9m improperly from Nissan-Mitsubishi JV
- January 19, 2019

Sales were driven higher by demand for its low-priced models, including two light utility vehicles manufactured in a joint venture with China's Brilliance, which offset the effect of its pullout from Iran and a slump in the Turkish market. The 64-year-old is accused of having understated his pay for eight years and of having shifted private investment losses temporarily onto Nissan. Mitsubishi became the smallest member of the three-way automaking alliance when Nissan in 2016 took a 34 percent ... (more...)
Facebook to invest $300 million in local journalism Facebook to invest $300 million in local journalism
- January 19, 2019

It was meant to train journalists to work at local newspapers and to encourage more reporting from towns that had lost their local media during the age of social media. At the same time, the social network, which has repeatedly denied that it's a media company, has also invested cash into original news programming for its video platform, Facebook Watch, as well as partnerships with fact-checking organizations to fight fake news. (more...)
Microsoft's $500m investment to tackle Seattle housing crisis Microsoft's $500m investment to tackle Seattle housing crisis
- January 19, 2019

Microsoft said another critical need is "public policy change to make it easier and more attractive to build affordable housing". "This gap in available housing has caused housing prices to surge 96 percent in the past eight years, making the Greater Seattle area the sixth most expensive region in the United States", a post penned by Microsoft president Brad Smith and CFO Amy Hood says. (more...)
68,000 pounds of chicken nuggets recalled after consumers find wood in nuggets 68,000 pounds of chicken nuggets recalled after consumers find wood in nuggets
- January 19, 2019

Over 68,000 lbs of Perdue chicken nuggets "that may be contaminated with extraneous materials" are now being recalled , according to the USDA. They were produced on October 25, have a UPC bar code of 72745-80656 and the establishment number of P-33944 in the USDA inspection mark. (more...)
Nissan turned the Altima into snowmobile Nissan turned the Altima into snowmobile
- January 19, 2019

Named the "Altima-te AWD", this one-off project vehicle is based on the all-new 2019 Nissan Altima AWD, and continues Nissan's custom of creating aggressive, one-off models fitted with a heavy-duty track system. This process alone amounted to over 150 hours of work. Nissan says Canadian company Motorsports in Action, which built the auto, had to design and build components to raise the Altima by a whopping 80mm. (more...)
JP Morgan Feels Market Volatility Despite Record Q4 Profit JP Morgan Feels Market Volatility Despite Record Q4 Profit
- January 18, 2019

The business had revenue of $26.10 billion during the quarter, compared to the consensus estimate of $26.69 billion. JPMorgan's profits had risen 67 percent, to $7.07 billion or $1.98 a share - a surge that was largely due to a large tax write-off past year - and missed the $2.20-a-share target. (more...)

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