Business


How major U.S. stock indexes fared Wednesday - 1/23/2019 4:01:26 PM How major U.S. stock indexes fared Wednesday - 1/23/2019 4:01:26 PM
- January 25, 2019

The world's two largest economies are trying to meet a March 1 deadline to resolve their trade dispute. Despite the news, chip stocks powered higher on the back of upbeat quarterly results. The Dow Jones Industrial Average fell 81.35 points, or 0.33 percent, to 24,494.27, the S&P 500 lost 3.91 points, or 0.15 percent, to 2,634.79 and the Nasdaq Composite added 27.79 points, or 0.4 percent, to 7,053.56. (more...)
Passengers treated at Quebec City airport after falling ill before takeoff
- January 25, 2019

Passengers experienced various symptoms, including itchy eyes, dizziness, and vomiting during the plane's de-icing before takeoff, Xinhua news agency reported. The aircraft was carrying 180 passengers. Originally scheduled to depart at 7:05 a.m., it was already almost four hours late when the incident occurred. (more...)
Amazon Scout robots are heading out to deliver packages Amazon Scout robots are heading out to deliver packages
- January 25, 2019

The robot can roll along sidewalks at a walking pace delivering packages to a customer's doorstep. It won't even let the robots deliver packages on their own. We've all heard about Prime Air, the drone delivery program now hamstrung by United States restrictions on commercial drones. Whether it's delivery drones or cashierless grocery stores , the company has a penchant for implementing novel and downright clever business ideas. (more...)
BuzzFeed Plans To Lay Off 15 Percent Of Its Workforce BuzzFeed Plans To Lay Off 15 Percent Of Its Workforce
- January 25, 2019

Buzzfeed has declined to comment on how this will impact the Australian market. Earlier this week the site published a bombshell report claiming President Trump ordered his personal lawyer Michael Cohen to lie to Congress about the construction of a Moscow skyscraper and a year ago made the shortlist for a Pulitzer award. (more...)
India ranks at 54th position among most innovative countries India ranks at 54th position among most innovative countries
- January 25, 2019

The ranking is compiled by analyzing seven equally weighted categories, including the amount spent on research and development, manufacturing capabilities, and the concentration of hi-tech public companies. The United Kingdom fell one spot to 18th and lost out to China for the first time ever in Bloomberg rankings. The so-called Startup Nation was ranked second globally for researcher concentration, defined as professionals engaged in R&D per population; fifth for high-tech density, ... (more...)
Boeing completes first test flight of self-driving air taxi Boeing completes first test flight of self-driving air taxi
- January 25, 2019

Everyone is mostly still as far as the test phase right now, launching experimental flights to begin working on kinks enough to take things to the next stage. The test flight was performed in Manassas, Virginia and the PAV is a vehicle aimed at urban air mobility. Uber exec Eric Allison described the test flight as a "tremendous step forward" for the vision of aerial ridesharing that Uber has been working on for a couple of years now. (more...)
Huawei will unveil world's first 5G foldable smartphone next month Huawei will unveil world's first 5G foldable smartphone next month
- January 25, 2019

This makes for a tiny chipset (smaller than your thumbnail) which is a big step forward; other 5G modems don't do 4G/3G on board, requiring a separate chipset to handle this. Real-world results are expected to be much slower, owing to congestion and environmental factors, but it should still offer a noteworthy leap over basic LTE connectivity. (more...)
China Trade Meeting Still on Contrary to Report, Says White House Official China Trade Meeting Still on Contrary to Report, Says White House Official
- January 25, 2019

Trade Representative (USTR) were supposed to meet with two Chinese vice ministers this week to try to discuss trade differences. The report cited a lack of progress on key United States grievances such as intellectual property protection and far-reaching structural reforms of the Chinese economy as the reasons for turning down the request. (more...)
Renault boss Carlos Ghosn has resigned, French minister says Renault boss Carlos Ghosn has resigned, French minister says
- January 25, 2019

The board of the French car-maker announced in a short statement that it had "taken note of" Mr Ghosn's resignation and made a decision to split the chairman and chief executive roles. Mr Senard also backed the alliance. Renault has yet to finalize Ghosn's severance package, estimated by the CGT union at 25-28 million euros ($28-32 million) in addition to an annual pension of 800,000 euros. (more...)
Tauranga homes 8th most expensive in the world Tauranga homes 8th most expensive in the world
- January 25, 2019

Adelaide is Austalia's most affordable mainland capital but is still among the most expensive cities in the world. The report assessed 239 urban markets in nine countries: Australia, Canada, Hong Kong , Ireland, Japan, New Zealand, Singapore, United Kingdom and the United States, as of the third quarter of 2018. (more...)
John Kerry to Trump: 'Resign' John Kerry to Trump: 'Resign'
- January 23, 2019

When asked whether he had a message for the President, the Democrat from MA said Trump should "resign" after saying Trump "doesn't take any of this seriously". "This year, because of the Shutdown, I decided not to go, and the Fake News said I should be there". Kerry said Trump is one of many with a "burden of ignorance" toward science, and credited the several governors who bucked the president by passing resolutions to keep their states in line with the Paris agreement. (more...)
TSA absences rise as shutdown continues TSA absences rise as shutdown continues
- January 23, 2019

The agency said many employees, who are not being paid because of the shutdown, are not reporting to work because of financial hardships. Nevertheless, on Sunday the majority of airports had wait times of less than 30 minutes. An airport spokesman said lines were relatively short at the other six checkpoints. The statement said that despite the high rate of unscheduled absences, wait times were "within normal TSA times" of 30 minutes in standard lanes and 10 minutes for TSA PreCheck flyers. (more...)
Patisserie Valerie in crisis talks over future Patisserie Valerie in crisis talks over future
- January 23, 2019

Patisserie Holdings trading shares were suspended in October 2018 after "potentially fraudulent" accounting had been flagged. A "devastating" accounting scandal at the café chain was "significantly worse than first thought", according to a release earlier in January, after forensic accountants identified "thousands of false entries into the company's ledgers". (more...)
Ramaphosa hopes World Economic Forum visit pays dividends for SA Ramaphosa hopes World Economic Forum visit pays dividends for SA
- January 23, 2019

And while several notable political leaders - i.e. President Trump and his cabinet - will be absent from this year's World Economic Forum , there are still several big names going. The 2019 WEF is a platform for Team South Africa to engage and update the global community, including investors, on the path of renewal and growth on which the country has embarked, according to the statement. (more...)
Apple Pay expansion will cover 74 of the top 100 U.S. merchants Apple Pay expansion will cover 74 of the top 100 U.S. merchants
- January 23, 2019

Apple Pay is going to blanket Target at all 1,850 locations across the USA, says Apple , and its expansion is estimated to be complete "in the coming weeks". In fact, waving your iPhone or Apple Watch over credit card terminals will initiate Apple Pay at 74 of the top 100 U.S. retailers, according to Apple's press release this morning. (more...)
Surging labour market boosts UK economy ahead of Brexit Surging labour market boosts UK economy ahead of Brexit
- January 23, 2019

It found 206 products in all categories had shrunk in size, while 79 increased. Sales could further be impacted this year if the value of the pound continues to fluctuate and issues with importing goods after Brexit arise. However, the sharp rise in costs connected to the weakness in sterling after the vote presented manufacturers with the choice: accepting lower profit margins, raising the price of their products, or reducing the amount they sold while keeping prices steady. (more...)
Toyota, Panasonic launch joint venture to make electric-car batteries Toyota, Panasonic launch joint venture to make electric-car batteries
- January 23, 2019

This new collaboration will first aim to ramp up production and triple Toyota's annual EV sales to 5.5 million by 2030, but it will also work to develop next-generation high-capacity solid-state lithium batteries, a goal needing plenty of capital and access to top talent. (more...)
Saudi Arabia plans oil refinery, petrochemicals plant in SA Saudi Arabia plans oil refinery, petrochemicals plant in SA
- January 23, 2019

Currently, roughly 40% of South Africa's oil consumption is supplied by Saudi Arabia. 40% of South Africa's oil now comes from Saudi Arabia and Construction is being led by its state energy company Saudi Aramco. "We believe that South Africa will grow economically" and additional projects may follow those now under discussion, Al-Falih said, suggesting that Aramco could also help supply South Africa with natural gas. (more...)
Dyson HQ’s move out of Britain adds to Brexit jitters Dyson HQ’s move out of Britain adds to Brexit jitters
- January 23, 2019

In justifying the move, chief executive Jim Rowan dismissed the idea of Brexit and lower taxes being a motivation. Rowan made it clear that Dyson's top executives, including Dyson himself who owns 100% of the company, made the collective decision. (more...)
Dollarama Officially Opens Online Store Dollarama Officially Opens Online Store
- January 23, 2019

Don't worry, all the online prices will be the same as in store! At launch, there are approximately 1000 products available to buy online, compared to upwards of 5000 in Dollarama stores at any given time, with online products priced identically to their in-store counterpart. (more...)
'Extensive' employee fraud uncovered at Chinese drone maker DJI 'Extensive' employee fraud uncovered at Chinese drone maker DJI
- January 23, 2019

The drone manufacturer says that it has uncovered several cases of corruption within the company and that it expects losses of up to RMB 1 billion (EUR 129.43 million). An internal memo which made its way onto social media - and has not been verified - suggested that the employees had engaged in "corrupt behavior" and may have inflated prices by up to 20 percent. (more...)
Drones Cause Newark Ground Stop Drones Cause Newark Ground Stop
- January 23, 2019

Incoming flights resumed shortly afterwards, but there may be residual delays for tonight's arrivals as some flights to Newark were delayed from taking off as well. "We are working closely with the airport and the FAA to return our operations to normal as quickly as possible", the airline said. Two people were arrested in connection with those incidents. (more...)
Renault says will hold board meeting Thursday to replace Ghosn Renault says will hold board meeting Thursday to replace Ghosn
- January 23, 2019

A Japanese court had recently denied bail to Ghosn over concerns that the French executive was a flight risk. Ghosn's resignation, after his November 19 arrest and swift dismissal as Nissan chairman, turns a page on his two decades at the helm of the partnership he transformed into a global carmaking giant, following Renault's acquisition of a near-bankrupt Nissan in 1999. (more...)
Tesla gets green light to sell Model 3 in Europe Tesla gets green light to sell Model 3 in Europe
- January 23, 2019

Tesla last week said it would cut thousands of jobs to rein in costs as it plans to increase production of lower-priced versions of the Model 3 . Tesla recently received the thumbs up from RDW , the Dutch regulator put in charge of approving the Model 3 for European roads, which means Tesla can begin selling the vehicle in Europe. (more...)
Oil Declines on Concerns Over China, Global Economic Growth Oil Declines on Concerns Over China, Global Economic Growth
- January 23, 2019

West Texas Intermediate crude for February, which expires Tuesday, fell as low as $51.80 at 10:35 a.m. on the New York Mercantile Exchange, its biggest intraday decline since December 27. Futures fell by as much as 3.7 percent in NY as traders returned from a long holiday weekend to increasing anxiety about global demand. Seventy percent of the senior energy industry executives plan to boost or maintain capital spending this year, compared with 39 percent in 2017, a survey by adviser DNV GL ... (more...)

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