Business


EU Rejects US Call for Huawei Ban EU Rejects US Call for Huawei Ban
- March 27, 2019

In its guidance for the rollout of next generation 5G telecom systems across Europe, the Commission said member states must assess cyber threats to the 5G infrastructure for themselves. In the background is the ongoing row about about Huawei and 5G. Huawei has strongly rejected the allegations and earlier this month sued the USA government over the issue. (more...)
Autonomy boss Lynch ramped sales ahead of HP deal, court told Autonomy boss Lynch ramped sales ahead of HP deal, court told
- March 27, 2019

Mr Rabinowitz said the main issue in the trial is the question of Mr Lynch's "knowledge [of] and involvement in the fraud". Mike Lynch, once hailed as Britain's answer to Bill Gates, faces Hewlett-Packard (HP) in London's High Court on Monday in a multi-billion dollar showdown over the US technology company's 2011 purchase of Autonomy. (more...)
IEA: Carbon Emissions Break Record In 2018
- March 27, 2019

Europe's emissions fell by 1.3 percent. China , India, and the United States accounted for 70% of all energy demand and 85% of the net increase in emissions, IEA reported. leapt by 10%, or the equivalent of the UK's entire gas consumption in a year. According to the report, a robust global economy that expanded by 3.7% in 2018 propelled higher energy demands, but extreme weather conditions accounted for nearly a fifth of the increase in global energy demand. (more...)
How anxious should the Indian market be on US Treasury yield inversion? How anxious should the Indian market be on US Treasury yield inversion?
- March 27, 2019

Raymond James chief economist Scott Brown said he sees a 30 percent chance of a recession in the next 12 months based on how flat the yield curve is sitting at time of publication. Historically, an inverted yield curve - where long-term rates fall below short-term - has signalled an upcoming recession, as per experts. Such an inversion is a warning sign about the economy. (more...)
Asian markets see red on slowdown fears Asian markets see red on slowdown fears
- March 27, 2019

Dealers have been spooked by growing evidence of a slowdown, after a broad-based rally since the start of the year that was built on hopes for China-US trade talks and a more dovish Federal Reserve. Oil prices hovered below their recent four-month peaks, as the prospect of tighter USA crude supply was offset by concerns about a slowdown in global economic growth. (more...)
Qualcomm, Apple split results of iPhone patent cases Qualcomm, Apple split results of iPhone patent cases
- March 27, 2019

The ITC's findings are the latest chapter in a saga that began when Apple sued Qualcomm for $1 billion in January 2017 over what it argues are unjustifiable licensing practices. USITC can't award monetary damages like federal courts, but can block sales of imported products if it determines they infringe on US patents. If an import ban is handed down in the USA, it will probably affect older versions. (more...)
Wayfair Heads To The Mall, Opening Permanent Store Location Wayfair Heads To The Mall, Opening Permanent Store Location
- March 27, 2019

Shoppers can expect to get a hands-on look at furniture before buying it-a departure from the typical Wayfair shopping experience, which involves flipping through photos and videos-and there will also be non-furniture items for sale on-site, according to an announcement from the company . (more...)
Aston Martin Teases Ultra-Limited DBS GT Zagato Aston Martin Teases Ultra-Limited DBS GT Zagato
- March 26, 2019

Almost 100 years ago, Ugo Zagato set up shop in Milan to build lightweight auto bodies for astonishingly wealthy customers, thus siring a legacy of gorgeous cars that have become icons in their own right. The original DB4 GT Zagato was also built in a 19-car run, developed as a response to a need for a lighter version of the standard DB4 GT for racing. (more...)
McDonald's makes $300 million bet that AI can sell you a burger McDonald's makes $300 million bet that AI can sell you a burger
- March 26, 2019

Decision technology could mark a big leap in personalising customer experience. McDonald's Corporation has signed a deal to acquire Israel-based web personalization company Dynamic Yield Ltd., the companies announced Tuesday. Dynamic Yield was founded in 2011 by CEO Liad Agmon and CTO Omri Mendellevich and raised $32 million last August, bringing the total funds raised to $83 million, according to Crunchbase. (more...)
Airbus secures multi-billion dollar jet order from China Airbus secures multi-billion dollar jet order from China
- March 26, 2019

Xi began his six-day trip to Europe with a visit to Italy, followed by Monaco and France . "We must show through actions that cooperation brings more than confrontation and that we have more to win through openness than through closing doors", Macron said. (more...)
Uber agrees to buy rival Careem in $3.1 billion deal: statement
- March 26, 2019

This has been shared by Uber CEO Dara Khosrowshahi in an email written to the staff on March 25. It will operate as a wholly owned subsidiary of Uber and be led by its original founders. A decade ago, Yahoo acquired Dubai-based Arab-language internet site Maktoob. "We intent operate Careem independently and under the leadership of co-founder and current CEO Mudassir Sheikha". (more...)
Avocados Are Being Recalled in Multiple States Over Possible Listeria Contamination Avocados Are Being Recalled in Multiple States Over Possible Listeria Contamination
- March 26, 2019

The recalled organic Henry Avocado products don't feature this label, instead featuring stickers that say 'California .' Stores are being alerted about the recall in order to pull the products from shelves. Symptoms of listeriosis include fever, muscle aches, headache, stiff neck, confusion and loss of balance. Consumers were urged to discard any recalled avocados or return them to their place of purchase for a refund. (more...)
Air Asia apologises for its Air Asia apologises for its "Get off in Thailand" promotion
- March 26, 2019

Global airline AirAsia has pulled an outdoor campaign running in Brisbane following complaints regarding its slogan's ties to the subject of sex trafficking. Brisbane City Council received numerous complaints about the advertisements, which adorned several of its buses. The ad also appears as a billboard at Brisbane airport, however the airport tweeted that it is removing the billboard as a priority, despite the "logistical challenges". (more...)
British Airways flight brings passengers to Scotland rather than Germany British Airways flight brings passengers to Scotland rather than Germany
- March 25, 2019

But the pilot on the service - operated by Germany-based WDL Aviation on a "wet lease" arrangement with BA - was given a flight plan that directed him to the Scottish capital and he touched down there at 9am. Sophie Cooke, a 24-year-old management consultant who travels from London to Düsseldorf weekly, told the BBC she asked the cabin crew if they were serious. (more...)
Jet Airways Chairman Naresh Goyal, wife Anita quit from board Jet Airways Chairman Naresh Goyal, wife Anita quit from board
- March 25, 2019

The statement said that the lenders of the airline, led by the State Bank of India, will constitute an interim management at Jet Airways , which will monitor the daily cash flow and operations of the airline at the instruction of lenders. Saddled with more than $1 billion of debt, Jet is struggling to stay afloat. Abu Dhabi-based Etihad is a strategic partner with 24 per cent stake in Jet Airways. (more...)
Uber selects the New York Stock Exchange for its forthcoming mega IPO Uber selects the New York Stock Exchange for its forthcoming mega IPO
- March 25, 2019

This follows a trade group representing top US pension funds and asset managers asking exchanges to require companies seeking to go public with share classes with unequal voting rights to have plans to equalize them within seven years. The price shot higher immediately after Wall Street opened - and closed up 31.8% - valuing the company at $8.7bn. Reuters previously reported Pinterest could raise around $1.5 billion in the IPO, which is likely to come in the first six months of 2019. (more...)
U.S. crude imports from Venezuela grind to a halt after sanctions U.S. crude imports from Venezuela grind to a halt after sanctions
- March 25, 2019

Reuters had reported , quoting trading sources and Refinitiv Eikon data, that Reliance Industries is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar USbased companies from dealing with state-run PDVSA . (more...)
India's Jet grounds seven more planes amid shutdown fears India's Jet grounds seven more planes amid shutdown fears
- March 25, 2019

The airline has suspended Abu Dhabi (nine in a week), Dammam (14th week), Dhaka (11), Hong Kong and Riyadh (Seven-seven in a week) from Delhi. The airline has also suspended services on the Bangalore-Singapore route, where it flies twice daily, till April 30. (more...)
Sports Direct resubmits Mike Ashley's case to become director of Debenhams Sports Direct resubmits Mike Ashley's case to become director of Debenhams
- March 25, 2019

On Friday, Debenhams said it was seeking 200 million pounds of additional funds from lenders, allowing it to pursue restructuring options to secure its future. Sports Direct , which owns almost 30% of Debenhams' shares, yesterday requisitioned a meeting of the department store group's investors, with the intention of removing all current board members other than chief financial officer Rachel Osborne. (more...)
Trump To Nominate Former Campaign Adviser Stephen Moore For Fed Trump To Nominate Former Campaign Adviser Stephen Moore For Fed
- March 25, 2019

At one stage, Trump discussed firing Powell, Bloomberg News reported December 21. That is a shift by the president, who had previously opted for Republican establishment Fed candidates including Mr Powell, vice chairman Richard Clarida and vice chairman for supervision Randal Quarles. (more...)
Solano jobless rate drops to 4.4 percent in February Solano jobless rate drops to 4.4 percent in February
- March 25, 2019

Government jobs, however, have grown by 4,800 since February 2018 and 1,000 over last month, increases of 1.1 percent and 0.2 percent, respectively. The leisure and hospitality sector experienced the largest decline in jobs. Over the year, Professional, Scientific and Business Services gained 10,400 (+1.8 percent) jobs. Education and Health Services added 3,500 (+0.4 percent) jobs over the month. (more...)
California Grower Recalls Avocados Over Possible Listeria 24 March 2019 California Grower Recalls Avocados Over Possible Listeria 24 March 2019
- March 24, 2019

Pregnant women can experience fever and other flu-like symptoms, but the infection can lead to miscarriages, stillbirth and premature delivery, according to the Centers for Disease Control and Prevention . Avocados from Mexico are not subject to recall. The company notice advises that customers can identify recalled avocados by the "Bravocado" sticker on the fruit. (more...)
Marmite Peanut Butter is coming to a supermarket near you Marmite Peanut Butter is coming to a supermarket near you
- March 24, 2019

Its arrival marks a major milestone for the yeast spread giant with Marmite Peanut Butter representing the first permanent product innovation to come out of the company since it was founded back in 1902. While the combination of the two spreads might seem unwise, it's been a popular toast topping for years. It will also be available to order on Ocado.com from March 25. (more...)
Treasuries buying wave triggers curve inversion Treasuries buying wave triggers curve inversion
- March 24, 2019

Earlier, German 10-year bond yields dived below zero for the first time since October 2016 after German data showed manufacturing contracted in March for a third straight month. If history is a guide, an inverted yield curve is an indicator that a recession is on the horizon. A yield curve inversion does not predict the length or severity of a downturn. (more...)
Report Claims 95 Percent of Bitcoin Trading is Fake Report Claims 95 Percent of Bitcoin Trading is Fake
- March 24, 2019

The firm analyzed data from 81 Crypto exchanges over a span of four days in March. Then a series of statistical tests were run to pinpoint fake trading behavior. However, only around two hundred and seventy-three million dollars ($73m) worth of trade volume genuine, with seventy one of the total studied exchanges engaged in misconduct. (more...)

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