Business


Canadian PM Justin Trudeau's political crisis Canadian PM Justin Trudeau's political crisis
- March 08, 2019

He was accused of interfering in a criminal investigation of SNC-Lavalin, a powerful engineering firm. He thoroughly explained the government's rationale for moving Wilson-Raybould, reiterating Trudeau's assertion that the shuffle only happened because Scott Brison announced he would resign as Treasury Board president. (more...)
World’s biggest wealth fund is dumping oil and gas stocks World’s biggest wealth fund is dumping oil and gas stocks
- March 08, 2019

Basically, the country doesn't want to hold too many oil and gas stocks should the price tank, like it did in 2014. The revenue from state-owned oil and gas companies is placed in the Government Pension Fund Global - as it is officially known - which Oslo then taps to balance its budget. (more...)
Creditor protection extended for cryptocurrency exchange QuadrigaCX Creditor protection extended for cryptocurrency exchange QuadrigaCX
- March 08, 2019

At the beginning of 2019, the exchange issued a notice regarding the situation. Cotten's death forced the closure of QuadrigaCX and auditor Ernst & Young was appointed to wind it up. The man who allegedly died with the password to $137m crypto money reportedly cleared the accounts before his death. "If the stay extension is not granted...the ability of the (Quadriga) companies to complete the investigation into the location and accessing the missing assets will also end, as well as ending ... (more...)
Powerball numbers: Did you win Wednesday's $381 million lottery jackpot? Powerball numbers: Did you win Wednesday's $381 million lottery jackpot?
- March 08, 2019

That total places the current jackpot as the 24th largest in history and among the 15 largest Powerball jackpots ever. The next Powerball drawing will be held on Saturday at 11 p.m. Prizes of $20,000 or more must be claimed in person at Lottery headquarters in Lincoln. One player who bought a Powerball ticket for Wednesday's drawing happened to have the lucky numbers, worth $1 million! Blackledge told lottery officials when she collected her prize at lottery headquarters in MI that she ... (more...)
Elizabeth Warren proposes breaking up big tech giants, including Amazon and Google Elizabeth Warren proposes breaking up big tech giants, including Amazon and Google
- March 08, 2019

Arguing that "today's big tech companies have too much power" over America's economy, society and democracy, Warren said her presidential administration would make major changes to the tech sector to crack down on such influence. Tech companies with annual global revenues between $90 million and $25 billion, meanwhile, would also be required to meet similar standards, but would not have to structurally separate from participants on their platforms, according to the senator. (more...)
StatCan says trade deficit hit record $4.6B in December StatCan says trade deficit hit record $4.6B in December
- March 08, 2019

Canada's merchandise trade surplus with the US narrowed to $1.8 billion in December. Crude oil exports plunged by 28.7 percent to US$2.5 billion (C$3.3 billion), down by more than half since peaking in July 2018, according to Statistics Canada . (more...)
China's exports and imports plummet in February China's exports and imports plummet in February
- March 08, 2019

China's exports and imports plummeted much more than expected in February, official data showed on Friday, adding to worries about slowing growth in the world's number two economy as it fights a trade war with the US. Trump postponed a sharp US tariff hike slated for early March as the talks progressed, but both Washington and Beijing have kept previous duties in place. (more...)
Amazon to open new grocery stores across US | Articles | Strategy Amazon to open new grocery stores across US | Articles | Strategy
- March 08, 2019

Amazon didn't comment on the news but Walmart, Kroger , Target, BJs, Costco and Sprouts all saw their shares take a nose dive after Wall Street learned the news. The WSJ has reported that Amazon has signed leases in a number of cities such as San Francisco, Chicago and Seattle for potential locations - all locations of existing Whole Foods and Amazon Go stores. (more...)
Elon Musk firm aiming to build Las Vegas transport system Elon Musk firm aiming to build Las Vegas transport system
- March 08, 2019

Update: In an email to Ars, Ingrid Reisman, a Senior Vice President of the Las Vegas Monorail Company, wrote: "An internal transportation system on the convention center campus will be a mobility benefit, specifically during the several large conventions that now come to Las Vegas each year and any others that may move here with the expanded facility". (more...)
Aurora Cannabis (ACB) Rating Reiterated by Seaport Global Securities Aurora Cannabis (ACB) Rating Reiterated by Seaport Global Securities
- March 08, 2019

Investors may be getting ready to do a portfolio review to see which stocks are worthy to hold, and which ones have underperformed a may need to be unloaded. "Furthermore, in pursuing Eu GMP certification, we expect, once certified, to offer Whistler's premium organic flower and derivative products in the much higher margin EU medicinal cannabis market, further increasing the accretive nature of this transaction". (more...)
World economic growth forecasts cut amid trade concerns World economic growth forecasts cut amid trade concerns
- March 08, 2019

The OECD cut its growth expectations for the world economy from 3.5% to 3.3%, with all but two major economies seeing their forecasts trimmed. The OECD also highlighted the impact of policy uncertainty, namely in relation to Brexit. The 19-nation eurozone was particularly hard hit, with predicted growth dropping from 1.8 per cent to 1 per cent. The European Central Bank's (ECB) council is expected to follow the OECD in cutting growth forecasts for 2019. (more...)
Nersa to decide on Eskom’s 15% tariff hike request Nersa to decide on Eskom’s 15% tariff hike request
- March 08, 2019

Consumers could pay 15-percent more for electricity if the Energy regulator grants Eskom the increase it's asking for . The decision comes after Nersa held a number of public hearings in seven provinces that it said were well attended. Mashaba said the poorest in the country would suffer the most because of the increase. "The Eskom Board will deliberate further before deciding on how best to address the shortfall and we keenly await the reasons for the decision as Nersa has disallowed ... (more...)
Goodyear Aero concept: the wheel that thinks it's a propeller Goodyear Aero concept: the wheel that thinks it's a propeller
- March 08, 2019

While Goodyear is now working on some of the technology incorporated into the Aero, like its non-pneumatic structure, AI, and sensors, the concept is mostly useful for fueling innovations. The interior of the Goodyear Aero would be a sophisticated turbine-style fan for aerial propulsion, while the outside would be a narrow non-pneumatic tire that provides cushioning and grip. (more...)
France creates new 3 percent tax for internet giants France creates new 3 percent tax for internet giants
- March 08, 2019

Said tech giants are unlikely to take this new tax lying down and will presumably threaten some kind of strop in retaliation, but if they want to make money in France they will have to abide by its tax rules. Dubbed the GAFA tax, which is an acronym of the USA companies it targets: Google , Apple , Facebook and Amazon , the proposed levy will impose a 3% revenue tax on digital companies with global revenues above €750 million and above €25 million in France. (more...)
17% of the world's ultra-rich want new homes in Singapore 17% of the world's ultra-rich want new homes in Singapore
- March 08, 2019

Knight Frank forecasts the global population of ultra-high-net-worth individuals will grow by more than a fifth over the next five years, and that 2019 will be the first year in which the number of millionaires, as measured in United States dollars, will pass 20 million. (more...)
Guaido announces public sector strike against Maduro Guaido announces public sector strike against Maduro
- March 08, 2019

Maduro finally made an appearance in the late afternoon to lead a military parade paying tribute to his predecessor Hugo Chavez on the sixth anniversary of the socialist firebrand's death. "They thought the pressure had reached its zenith but it's only just beginning". The former trade union leader denies there is a humanitarian crisis in Venezuela and has blocked the opposition's attempts to bring in aid to alleviate shortages of food and medicine. (more...)
Bugatti just unveiled the most expensive vehicle of all time Bugatti just unveiled the most expensive vehicle of all time
- March 08, 2019

Unfortunately they're only making 1 of these cars and it's already sold. French luxury automobile brand, Bugatti, has just unveiled the world's most expensive auto of all time. It ends down near the tip of the boot where we see perhaps the sweetest rear-end of a Bugatti yet, with a wave-form design and thin LED taillights filling from side to side, and a glowing Bugatti font underneath. (more...)
FDA commissioner Scott Gottlieb, who fought teenage vaping, resigns FDA commissioner Scott Gottlieb, who fought teenage vaping, resigns
- March 08, 2019

The 46-year-old millionaire physician, who has survived Hodgkin's lymphoma, said he wants to spend more time with his wife and three young daughters - a nine-year-old and twin five-year-olds - at their home in CT, rather than constantly commuting to Washington, DC. (more...)
Cookeville is Uber's third most 'forgetful' city Cookeville is Uber's third most 'forgetful' city
- March 07, 2019

According to the ride-sharing company, which released its annual "Lost & Found Index" this week, phones are the most commonly lost items during an Uber ride. The report stated that Saturdays and Sundays are the most common days to report items as lost. The most forgetful days last year were January 1 and October 29 - New Year's and near Halloween. (more...)
Gatwick Airport plane passengers in hospital over sickness outbreak Gatwick Airport plane passengers in hospital over sickness outbreak
- March 07, 2019

The first ever major airline to allow women cabin crew to NOT wear make-up, Virgin Atlantic announced that it is relaxing some of the more restrictive guidelines on how women crew should dress and groom themselves. "What we do know is that, on MSC Preziosa , no cases of acute gastroenteritis have been reported in the past 14 days". "Passengers have now been able to leave the aircraft and continue their onward journeys". (more...)
Asbestos found in some Claire's makeup, FDA says Asbestos found in some Claire's makeup, FDA says
- March 07, 2019

All possibly toxic Justice products were recalled by the company in 2017, but the FDA was forced to issue a safety alert warning about three asbestos containing products from Claire's that could possibly still be in the hands of consumers: eye shadow, compact powder and contour. (more...)
Chick-Fil-A offering fish sandwiches, entrees for Lent Chick-Fil-A offering fish sandwiches, entrees for Lent
- March 07, 2019

Chick-Fil-A is bringing back their fish sandwich just in time for Lent . The Chick-fil-A Fish Sandwich consists of two breaded and deep-fried cod fillets on a toasted, buttered bun with pickles and a side of tartar sauce. "May I also say.Thank you so much for bringing your Fantastic Fish Sandwich Back during Lent!" While the sandwich is largely being met with good reviews and messages of excitement, some did feel as though Chick-fil-A let them down when it came to the name "fried fish ... (more...)
Charlotte Russe will close all of its stores within 2 months Charlotte Russe will close all of its stores within 2 months
- March 07, 2019

The move comes after the retailer filed for bankruptcy in early February. Charlotte Russe has one location in Topeka, inside the West Ridge Mall, and four other locations in the Kansas City Metro Area. Charlotte Russe is going out of business. Charlotte Russe will close all of its stores and is in negotiations to sell its intellectual property, according to USA Today . (more...)
Dollar Tree to close 390 Family Dollar stores, rebrand 200 more Dollar Tree to close 390 Family Dollar stores, rebrand 200 more
- March 07, 2019

Dollar Tree will also take 200 existing Family Dollar stores and re-banner them as Dollar Tree locations. "We are confident we are taking the appropriate steps to reposition our Family Dollar brand", said Gary Philbin, Dollar Tree CEO, in a written statement on Wednesday. (more...)
Amazon Layoffs: Hundreds Lose Jobs After 87 Pop-Up Stores Close Down Amazon Layoffs: Hundreds Lose Jobs After 87 Pop-Up Stores Close Down
- March 07, 2019

The closures show how Amazon is continuing to experiment with physical store formats and hasn't yet landed on the ideal fit. Across our Amazon network, we regularly evaluate our businesses to ensure we're making thoughtful decisions around how we can best serve our customers. (more...)

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