Business


House passes bill to restore 'net neutrality' rules House passes bill to restore 'net neutrality' rules
- April 12, 2019

Progressives have argued that without the rules, Internet gatekeepers could charge customers for faster speeds and block content from competitors for a price. "They may differ on how and what it should cover, but they still think we should do it". The Democratic House spent its last session before a two-and-a-half-week spring recess debating and voting 232-190 to pass a major net neutrality bill that has no chance of becoming law. (more...)
Sterling briefly rallies on hopes for Irish backstop breakthrough Sterling briefly rallies on hopes for Irish backstop breakthrough
- April 12, 2019

Brexit news has, however, weighed on the Sterling today with the President of the European Council, Donald Tusk, essentially rejecting Prime Minister Theresa May's delay for a shorter request and suggesting a longer delay from up to a year. (more...)
London’s Khan Says May Should Have Cancelled Brexit London’s Khan Says May Should Have Cancelled Brexit
- April 12, 2019

Mark Francois, the deputy leader of the pro-Brexit European Research Group of MPs, said the Prime Minister was guilty of "sheer obstinacy", and Tory grandee Sir Bill Cash claimed the agreement "undermines our democracy". Tory MP Conor Burns, an ally of Boris Johnson, said the talks with Labour amounted to "two Remainers debating how to compromise on something that really isn't even Brexit", adding: "This has moved beyond embarrassing to humiliating". (more...)
Aviation Regulator Allows Lessors To Take Back 7 Jet Airways Aircraft Aviation Regulator Allows Lessors To Take Back 7 Jet Airways Aircraft
- April 12, 2019

Any interested parties will then have until April 30 to make a formal bid. "Accordingly, in order to allow better participation in the process, the domestic lenders have agreed for extension timeline". As per industry insiders, some payments were made to the fuel retailer after lenders gave an emergency funding relief of Rs 33 crore on last Friday. (more...)
Troubled Indian carrier Jet Airways suspends all flights to and from Singapore Troubled Indian carrier Jet Airways suspends all flights to and from Singapore
- April 12, 2019

Almost 30 Jet flights from Mumbai to Delhi, Bengaluru, Hyderabad and Chennai on April 12 and 13 and 23 flights from Delhi have also been cancelled. "Further to our letter dated April 2, 2019, we now write to inform you that an additional ten aircraft were grounded due to non-payments of amounts outstanding to lessors under their respective lease agreements", the airlines said in a statement on Thursday. (more...)
Google launches its first drone delivery service in Australia Google launches its first drone delivery service in Australia
- April 12, 2019

And now Wing has announced its drone deliveries have moved from the testing phase in the Aussie outback, and into metropolitan areas, with around 100 homes in the suburbs of Crace, Palmerston, and Franklin initially having access to the service. (more...)
British engineers complete milestone test of their new high-speed 'spaceplane' British engineers complete milestone test of their new high-speed 'spaceplane'
- April 12, 2019

Reaction Engines heads up the super plane project and recently tested a "pre-cooler" heat exchanger for the plane. Reaction envisages an aircraft that could travel the distance between NY and London in less than an hour - or, at even faster speeds, take people or payloads into space and return to Earth... (more...)
Uber Unveils Its Highly Anticipated IPO Filing Uber Unveils Its Highly Anticipated IPO Filing
- April 12, 2019

The San Francisco-based company applied to list on the New York Stock Exchange under the ticker UBER , according to its filing Thursday with the U.S. In addition to questions about its finances, Uber Chief Executive Dara Khosrowshahi will be tasked with convincing investors that he has successfully changed the company's culture and business practices after a series of embarrassing scandals over the last two years. (more...)
China Bans Bitcoin & Cryptocurrency Mining China Bans Bitcoin & Cryptocurrency Mining
- April 12, 2019

The public has until May 7 to comment on the draft. As the South China Morning Post noted, China is home to some of the world's largest cryptocurrency mining farms "thanks to cheap electricity in the country's coal-rich Xinjiang and Inner Mongolia regions". (more...)
Saudi Aramco's $10bn bond sale will close on Wednesday Saudi Aramco's $10bn bond sale will close on Wednesday
- April 12, 2019

The bonds, which range in maturity from three to 30 years, are expected to attract demand from both emerging markets and investment-grade buyers. The company opened up a six-stage bond sale on Monday, with investors across Europe, Asia and North America pledging over $30 billion on the first day. (more...)
Amazon Employs Thousands of People to Listen to Your Alexa Conversations Amazon Employs Thousands of People to Listen to Your Alexa Conversations
- April 12, 2019

Two unnamed sources told the publication that in several cases they picked up potentially criminal and upsetting activities, accidentally recorded by Alexa. Staffers have also raised the alarm when overhearing distressing situations like a child calling out for help, and instances where a sexual assault might have occurred. (more...)
Burger King pulls NZ chopsticks ad after outcry in China Burger King pulls NZ chopsticks ad after outcry in China
- April 11, 2019

The ad was pulled from television, however, it was still being promoted on social media, including on Burger King's Facebook page - though it has since been removed - and as a sponsored post on Instagram , which is where Mo viewed it. huffpost .com that she shared the clip as she was exhausted of large corporations portraying Asians in an offensive manner. "We are truly sorry that the ad has appeared insensitive to our community", he said. (more...)
In video, Ghosn says he is innocent and victim of backstabbing In video, Ghosn says he is innocent and victim of backstabbing
- April 11, 2019

The conspiracy, he said, was borne out of fear that he would bring Nissan closer to its partner and top shareholder, Renault. Ghosn was rearrested by prosecutors last week while out on bail in Tokyo after they announced they were investigating new allegations against him. (more...)
Oil prices rally amid falling United States gasoline supplies, rising crude stockpiles Oil prices rally amid falling United States gasoline supplies, rising crude stockpiles
- April 11, 2019

On Tuesday, the 9th of April 2019, during the midday Asia Pacific trading hours, Brent crude hit a five-month high above $71, while USA crude had resurfaced over $64.50 level for the first time after November 1st, 2018. Russia, not an OPEC-member but a reluctant participant in the supply cuts, signalled yesterday it wanted to raise output when it meets with OPEC in June because of falling stockpiles. (more...)
Taking selfie in this beach will award you death penalty Taking selfie in this beach will award you death penalty
- April 10, 2019

Tourists at this Phuket Beach may face the death penalty for taking photos under a plane. Mr Kaeothaithiam said the stretch of beach will become a designated "off limits" safety zone and members of the public will no longer be able to enter the area. (more...)
India to grow at 7.3% in 2019 and 7.5% in 2020 India to grow at 7.3% in 2019 and 7.5% in 2020
- April 10, 2019

The IMF lowered its growth forecast for 2019 to 3.3 percent from the previous level of 3.5 percent in its latest World Economic Outlook ( WEO ). "Efforts should also be enhanced on land reform to facilitate and expedite infrastructure development". "Important steps have been taken to strengthen financial sector balance sheets, including through accelerated resolution of nonperforming assets under a simplified bankruptcy framework", it said. (more...)
Gas prices are cheapest on this day Gas prices are cheapest on this day
- April 10, 2019

Analysts blame the price hikes on unplanned refinery maintenance at several locations. As it stands Monday morning, the average cost for a gallon of self-serve unleaded fuel is about $2.74 across the USA and about $2.82 in MI. On Mondays, some prices tick upward in the afternoon, so it's often a good idea to fill up in the morning. "As the week progresses and our excitement builds for the weekend, gas prices also have a tendency to rise", he said. (more...)
Wynn makes $7.1 billion buyout play for Australian casino giant Crown Wynn makes $7.1 billion buyout play for Australian casino giant Crown
- April 10, 2019

Earlier in the day, the James Packer-controlled gaming firm had confirmed that it was in acquisition talks with Wynn . In a tersely-worded statement, the Las Vegas company said it was ending negotiations with Crown Resorts. Crown's value has fallen 20% since mid-2018 as profits have fallen short of expectations. The slump has been attributed to slowing economic growth in China, where big gamblers who traveled to Australia are now less likely to be in the mood to gamble. (more...)
Debenhams facing administration after rejecting Mike Ashley’s rescue bid Debenhams facing administration after rejecting Mike Ashley’s rescue bid
- April 10, 2019

Debenhams declined to comment last night. Sports Direct's £150 million rescue offer for Debenhams has been rejected, putting the department store chain on course for a probable administration. It is then likely to be put in a so-called pre-pack administration that enables stores to keep operating while its lenders restructure the operations and seek to cut rents. (more...)
Ghosn removed from board at Nissan shareholders' meeting Ghosn removed from board at Nissan shareholders' meeting
- April 10, 2019

Shareholders of Nissan Motor Co. have approved removing its former chairman, Carlos Ghosn , from its board. His detention on that allegation has been approved through April 14 but could be extended. In an interview with the French weekly, Journal du Dimanche , published Sunday, Carole Ghosn said she saw police take her husband back into custody and "felt in danger" when officers confiscated her Lebanese passport. (more...)
Larry Kudlow says Trump is not interfering with the Fed Larry Kudlow says Trump is not interfering with the Fed
- April 09, 2019

A top White House adviser on Sunday defended President Donald Trump's controversial choices to fill two empty seats on the Federal Reserve , rejecting criticism that he is politicizing the central bank, reported AFP . "We believe more people working and succeeding does not cause inflation". Trump has repeatedly criticized the Federal Reserve's interest rate decisions, calling out chairman Jerome Powell for slowing economic growth. (more...)
British retailer Debenhams falls into administration British retailer Debenhams falls into administration
- April 09, 2019

The company said in an earlier statement this morning: "The board confirms that it received a revised, highly-conditional, proposal from Sports Direct in the early hours of 9 April, which indicated a willingness of Sports Direct to underwrite an equity issue of £200 million". (more...)
Fiat/Chrysler (FCA) buys Tesla polluters clean - view Fiat/Chrysler (FCA) buys Tesla polluters clean - view
- April 09, 2019

Fiat Chrysler Automobiles NV is pooling its fleet with Tesla Inc .to comply with stricter European Union rules on carbon dioxide emissions in a deal that is likely to pay the USA electric-car leader hundreds of millions of dollars. Tesla has made over US$1 billion in the last three years by selling emissions credits in the United States, according to its annual report to the US Securities and Exchange Commission. (more...)
London's ultra-low emission zone: New air pollution charge starts London's ultra-low emission zone: New air pollution charge starts
- April 09, 2019

But unlike the congestion charge, which costs drivers £11.50 between 7am and 6pm on weekdays, the ULEZ levy is in force 24 hours a day. Natalie Chapman, head of urban policy at FTA, added that the zone is not the most effective way to improve air quality in the long-term and will impact on the livelihoods of many small businesses in London unless changes are made: "FTA recognises and supports the need to improve air quality, but we question the effectiveness of the ULEZ in reducing emissions ... (more...)
Any deal to break deadlock must be Boris-proof, insists Labour
- April 09, 2019

British Prime Minister Theresa May leaves 10 Downing Street. Mrs May has responded to the criticism by claiming she had "no choice" but to offer to work with the Labour leader, although it many believe it was and is within her power to deliver a No Deal Brexit on March 29th. (more...)

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