Business


May offers MPs three month extension to Brexit talks
- February 28, 2019

SCOTTISH Labour leader Richard Leonard has said he'd rather have a Labour Brexit deal than a second European Union referendum - but that he would still back Remain if a second vote was held. Following the vote, frontbencher Richard Burgon appeared to cast doubt on how quickly Labour would move to a second referendum position by tweeting that there would be "further opportunities to secure support for Labour's alternative Brexit deal". (more...)
Oil holds near 3-month high as US extends truce with China Oil holds near 3-month high as US extends truce with China
- February 27, 2019

The comments echo Trump's frequent call for the Organization of the Petroleum Exporting Countries (OPEC) to keep production high to limit rising oil prices that hurt economic growth . "2019 averaging 12.5 million bpd", USA bank Citi said following the release of the EIA report. With U.S. supply surging, Goldman Sachs said it expected non-OPEC supply to grow by 1.9 million bpd this year, more than offsetting the OPEC cuts. (more...)
Marks and Spencer and Ocado in home delivery deal talks Marks and Spencer and Ocado in home delivery deal talks
- February 27, 2019

In a statement to the stock market today, however, the UK retailer said that "it is in discussions with Ocado Group plc regarding a joint venture in UK Retail". "We believe the food of M&S (ready meals, quality food) is perfectly suited for this more upmarket convenience shopping". But not everyone close to the deal is entirely convinced it is a good move for both M&S and Ocado . (more...)
Draft E-Commerce Policy: Consultation A ‘Welcome Move’, Say Flipkart And Amazon Draft E-Commerce Policy: Consultation A ‘Welcome Move’, Say Flipkart And Amazon
- February 27, 2019

The draft policy comes after the government scrapped a previous version in September 2018 amid opposition from some online retailers. It enlists certain steps which has to be followed by all e-commerce websites/applications. The detail draft is published on DIPP website. As India's homegrown e-commerce pioneer, Flipkart has always been at the forefront of growth of the industry. (more...)
Musk might just talk himself into a Tesla buyout Musk might just talk himself into a Tesla buyout
- February 27, 2019

He called the latest incident "a wild card that could potentially bring this tornado of uncertainty back into the Tesla story until resolved". It issued the contempt-of-court request, arguing the first post breached last year's agreement, which settled claims that Musk misled investors with tweets about taking the company private. (more...)
Trudeau hit with fresh call to face MPs over SNC-Lavalin controversy Trudeau hit with fresh call to face MPs over SNC-Lavalin controversy
- February 27, 2019

Wilson-Raybould - who was demoted in January and resigned from her new post this month - has not said a word so far about the affair. The waiver does not, however, permit Wilson-Raybould to discuss conversations she may have had with the director of public prosecutions on SNC-Lavalin, a restriction that's meant to "uphold the integrity of any criminal or civil proceedings", the order states. (more...)
Porsche to make electric SUV as the Macan gets an overhaul Porsche to make electric SUV as the Macan gets an overhaul
- February 27, 2019

That will have a raised ride-height as well as more muscular styling, though also be all-electric. The Leipzig facility started series production of the Cayenne SUV back in 2002 with 259 employees, and when the Macan production began there in 2014, the Leipzig plant was expanded into a "full plant", which included its own body shop and paint shop. (more...)
Rebooted Jeep Wagoneer, new three-row utility part of big SUV blitz Rebooted Jeep Wagoneer, new three-row utility part of big SUV blitz
- February 26, 2019

GM's decision late previous year drew fire from US President Donald Trump. The move comes at a time when the USA market looks set to decline, with 2019 industry-wide new vehicle sales expected to fall below 2018 levels. FCA's plans include turning an engine plant in Detroit into an assembly plant. It is a boost to the area after General Motors announced it would shut two MI sites as part of a wider restructuring plan costing 14,000 jobs. (more...)
Barrick bids $18 billion for Newmont in gold mega-merger Barrick bids $18 billion for Newmont in gold mega-merger
- February 26, 2019

Newmont CEO Gary Goldberg called Barrick's proposed takeover "desperate" and "bizarre". Barrick's offer is worth nearly US$18 billion based on Barrick's closing price of US$13.04 per share on the New York Stock Exchange on February 22. "Considered globally, the merger represents a radical and long-overdue restructuring of the gold industry, and a transformative shift from short-term survival tactics to the long-term creation of sustainable value", Bristow contended. (more...)
Man Spends $540 on Cookies to Get Scouts Out of Cold Man Spends $540 on Cookies to Get Scouts Out of Cold
- February 26, 2019

He spent $540 on cookies, she said. "We all were shocked". According to a Facebook post, the man originally stopped at the girls' stand and bought seven boxes; he gave the girls $40 and told them to keep the change. Gave the girls $40, told them to keep the change. "The only information we got out of the man was that he owns several businesses and that he was going to take the cookies to the businesses", she told CBS News . (more...)
Adani Enterprises wins bids to operate five state-run airports Adani Enterprises wins bids to operate five state-run airports
- February 26, 2019

As many as 10 companies had submitted 32 bids in total to acquire the control of six airports , now managed by the AAI. MAKING an entry into the airport business, Adani Enterprises won bids for operating five of six airports that were put up for privatisation by the government late a year ago. (more...)
Apps give Facebook sensitive health and other data Apps give Facebook sensitive health and other data
- February 26, 2019

Facebook went on to frame Onavo as a way for users to reduce their data usage, block risky websites, keep their traffic safe from snooping - while Facebook itself was analyzing that traffic. Since then some apps, including Azumio Inc.'s Instant Heart Rate: HR Monitor , FitNow Inc.'s Lose It! The report notes that none of the mentioned apps made it easily accessible for users to know that such sort of data sharing was taking place. (more...)
Groupe PSA to introduce Citroen brand in India Groupe PSA to introduce Citroen brand in India
- February 26, 2019

The French group will launch the Citroen brand in the Indian market in 2021 and their first vehicle is likely to be the Citroen Aircross C5, which will take on the likes of Jeep Compass. Peugeot is an iconic two centuries old brand that - when introduced to North America - will be marketed by Groupe PSA on five continents. It all stems back to the January 2017 when Groupe PSA and CK Birla Group signed two JVs for production of vehicles and powertrains in Tamil Nadu with initial investment of ... (more...)
183 passengers stranded on Amtrak train since Sunday 183 passengers stranded on Amtrak train since Sunday
- February 26, 2019

Due to worsening conditions, road closures in the area and "no viable way to safely transport" the passengers away, the train stopped at Oakridge, the company said. "There's two or three feet of snow on each side of us", she said. UPDATE: Coast Starlight Train 11 which departed Seattle (SEA) on 2/24 will terminate in Oak Ridge with no alternate transportation Chemult (CMO) to Los Angeles (LAX). (more...)
Coinbase Exchange Users Can Buy and Sell XRP Starting Tomorrow Coinbase Exchange Users Can Buy and Sell XRP Starting Tomorrow
- February 26, 2019

However, today, Coinbase finally made the plunge and announced it is opening XRP trading on Pro. However, traditionally, it takes a couple of months before newly added cryptos hit the retail platforms. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time. This falling in price is nothing to be concerned about, as the volatility and price correcting after big news such as the Coinbase listing is to be expected. (more...)
Warren Buffett Calls for Higher Taxes on the Wealthy Warren Buffett Calls for Higher Taxes on the Wealthy
- February 26, 2019

Billionaire investor Warren Buffett thinks blockchain technology "is important", but remains far less bullish on bitcoin. I'm really sorry it happens because people get their hopes up that something like that is going to change their lives. (more...)
SEC seeks contempt charges against Tesla CEO Elon Musk SEC seeks contempt charges against Tesla CEO Elon Musk
- February 26, 2019

The SEC had sued Musk for using his Twitter account to announce he had secured financing for a potential buyout of Tesla, something regulators alleged wasn't true. Musk agreed to having future tweets that could affect Tesla's stock be pre-approved. In a response to the SEC's demand for information regarding the February 19 tweet, a lawyer for Tesla and Musk said the CEO's tweet was meant to reiterate information already approved, then disseminated when the company released fourth-quarter ... (more...)
Huawei breaks price ceiling with $2 600 folding 5G smartphone Huawei breaks price ceiling with $2 600 folding 5G smartphone
- February 25, 2019

He said the mid-market Nokia 3 .2 and Nokia 4 .2 also appealed to users who wanted good value combined with the simplicity of a "pure" Android operating system, unencumbered with software installed by the device maker and with guaranteed upgrades. (more...)
Donald Trump Challenges OPEC for Cutting Oil Production Donald Trump Challenges OPEC for Cutting Oil Production
- February 25, 2019

Bush and Barack Obama threatened to use their veto. The losses have dented some of the gains made during the most recent rally, in which WTI futures rose 9.3 percent from a $52.41-per-barrel close on February 11 and to closing over $57 per barrel on Friday. (more...)
British Airways flight diverted after violent winds batter plane British Airways flight diverted after violent winds batter plane
- February 25, 2019

In the clip, onlookers can be heard gasping in shock as the plane tips dangerously as it flies overhead. The flight from London Heathrow to Gibraltar diverted to the Costa del Sol in Spain . Plane staff reportedly warned passengers there would be a rough ride due to weather, Daily Mail says, and pilots eventually made a decision to land as a precaution. (more...)
Wind gusts to 40 miles per hour this morning Wind gusts to 40 miles per hour this morning
- February 25, 2019

Damage to trees, power lines, and property are possible with winds of this magnitude. Late tonight and again on Monday morning, frequent gusts up to 45 miles per hour will probably cause scattered power outages across the region. Turning breezy. High: Mid-upper 40s inland, near 50 shoreline. Power outages are likely. Wind speeds may not be almost as high overnight, but a strong westerly breeze will continue tonight. (more...)
In a shift, Buffett says focus on Berkshire's stock price In a shift, Buffett says focus on Berkshire's stock price
- February 25, 2019

That's Buffett's preferred metric because it excludes stock swings and measures how Berkshire's underlying businesses are performing. Kai Pan, an analyst at Morgan Stanley, said 1.35 times book value per share could be the new "floor" below which Berkshire would consider the stock below its intrinsic value. (more...)
Modi Launches PM-KISAN Scheme, Farmers Get Rs 2,000 As First Tranche Modi Launches PM-KISAN Scheme, Farmers Get Rs 2,000 As First Tranche
- February 25, 2019

On the launching day at National Level, the Prime Minister transferred an amount of Rs 2.21 crores in the accounts of the about 1.1 lakh beneficiaries. The scheme will be rolled out at a cost of Rs 75,000 crore annually. "I appeal to farmers, don't be misled by anyone". Modi said the remaining beneficiaries would receive the money in their bank accounts in the coming weeks, even as he warned farmers to remain vigilant about the alleged rumour mills of Opposition parties.Meanwhile, Mast told ... (more...)
NY Governor Cuomo Calls For Investigation on Facebook Health Data Collection NY Governor Cuomo Calls For Investigation on Facebook Health Data Collection
- February 25, 2019

According to the Wall Street Journal , some health apps have been confirmed to send the user's inputted health data to Facebook without the user's knowledge. Facebook can be a very useful tool for staying in touch with friends and family, but for many, the actual experience has come down to constant advertisements, unending game requests, and numerous quizzes about which ... (more...)
SFO closes Rolls-Royce and GSK investigations SFO closes Rolls-Royce and GSK investigations
- February 25, 2019

It also paid major settlements to U.S. and Brazilian authorities. Sarah Wallace, head of Irwin Mitchell's regulatory and criminal investigations group, commented: 'In some ways it is extraordinary that the SFO are unable to charge any individual suspects in relation to Rolls Royce given the scale of the allegations in the DPA but maybe the director in the wake of Tesco wants to clear the decks of potentially hard and time consuming cases against employees that pre-date her arrival ... (more...)

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