Business


Exxon Mobil, Chevron dogged by refining, chemicals troubles Exxon Mobil, Chevron dogged by refining, chemicals troubles
- April 28, 2019

Chevron's production rose and achieved higher profit from its US shale business, offsetting some of the drop in worldwide oil and gas earnings. Sanctions in Venezuela, production cuts in Canada and weak natural-gas prices in Asia took a toll on Exxon Mobil Corp., Chevron Corp. (more...)
How major US stock indexes fared Friday How major US stock indexes fared Friday
- April 28, 2019

Exxon fell 2.1% after its quarterly profit and revenue missed Wall Street expectations. In addition, it slashed its profit forecast for the full year. The Dow fell 16.21 points, or 0.1%. The Nasdaq is up 1,511.12 points, or 22.8%. The economy grew at a solid 3.2%, the Commerce Department said, compared with 2.2% in the fourth quarter. (more...)
United Kingdom bank RBS logs falling profit on competition, Brexit United Kingdom bank RBS logs falling profit on competition, Brexit
- April 28, 2019

Royal Bank of Scotland was briefly the world's largest bank before the financial crisis, but market confidence began to plummet . The pressure ate into the lender's net interest margin - a key measure of underlying profitability - which declined 6 basis points quarter-on-quarter to 1.89 percent. (more...)
Bitfinex Users Withdraw Crypto en Masse Following Major Controversy Bitfinex Users Withdraw Crypto en Masse Following Major Controversy
- April 28, 2019

Just Blockchain It: Nike Trademarks "Cryptokicks": Nike made waves in cryptoworld with news of the iconic sports apparel brand trademarking the term "Cryptokicks". It is also likely that the funds in question could be owned by the exchange itself, not its customers. Virtual currencies tracked by CoinMarketCap.com lost $10 billion of value within an hour of the attorney general's statement and Tether slid 1.4%. (more...)
NY Attorney General Announces Facebook Investigation NY Attorney General Announces Facebook Investigation
- April 28, 2019

The New York attorney general's office has opened an investigation into Facebook after it was discovered earlier this month that the company had the email contacts belonging to over 1.5 million people without their consent. The FTC has been exploring disclosures that Facebook improperly shared data having a place with 87 million of its users with the now-outdated British political counseling firm Cambridge Analytica. (more...)
Up Or Down::Tesla, Inc. (NASDAQ: TSLA) Up Or Down::Tesla, Inc. (NASDAQ: TSLA)
- April 28, 2019

This consensus broker rating may help shed some light on how the sell-side is now viewing company stock. JMP Securities decreased their price objective on Tesla from $374.00 to $369.00 and set a "market outperform" rating for the company in a report on Thursday. (more...)
Apple recalls United Kingdom plug adaptors over electric shock fears Apple recalls United Kingdom plug adaptors over electric shock fears
- April 28, 2019

The company was made aware of six separate incidents worldwide in which people were given shocks by the products, MailOnline understands. The problematic plug is quite thick, entirely white, and has no writing on the inside of the slot that attaches to the power adapter. (more...)
Apple Announces Recall Program For Three-Prong AC Wall Plug Adapter Apple Announces Recall Program For Three-Prong AC Wall Plug Adapter
- April 28, 2019

You can find out more about the program, compare images of the new and old adapter design, and find out how to obtain a replacement over on the Apple Three-Prong AC Wall Plug Adapter Recall Program page. At the time, Apple initiated the recall after it said it had been made was aware of 12 incidents relating to them. Apple's four software platforms - iOS, macOS, watchOS and tvOS - provide seamless experiences across all Apple devices and empower people with breakthrough services ... (more...)
Lucara Diamond finds another big diamond at Karowe mine in Botswana Lucara Diamond finds another big diamond at Karowe mine in Botswana
- April 28, 2019

Canadian firm Lucara Diamonds has announced the recovery of a 1,758 carat diamond from its Karowe Diamond Mine located in Botswana. Lucara's XRT technology has to date recovered 12 diamonds larger than 300ct, including the two whoppers. (more...)
Oil sinks 3% as Trump again pressures OPEC to lower crude prices Oil sinks 3% as Trump again pressures OPEC to lower crude prices
- April 28, 2019

The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France March 28, 2019. The end of the exemptions sparked fears of supply shortages, pushing prices to near six-month highs. Coming up: Baker Hughes rig count from the United States . A White House statement said that Saudi Arabia had agreed to "take timely action to assure that global demand is met as all Iranian oil is removed from the market". (more...)
Elon Musk reaches settlement in SEC tweet battle Elon Musk reaches settlement in SEC tweet battle
- April 27, 2019

Unsworth said in a CNN interview that the mini-submarine, which wasn't used in the rescue, was a "PR stunt" and that Musk could "stick his submarine where it hurts". In a call with investors, Elon Musk , the company's CEO, described the first shipment of Model 3s overseas as "the most hard logistics problem I've ever seen". (more...)
Russian oil flow contamination roils Europe's refiners Russian oil flow contamination roils Europe's refiners
- April 27, 2019

The Hugarian MOL oil processing company, the mother company of the Slovakia-based Slovnaft, confirmed on Thursday that it is continuing to import Russian oil flowing into the country through the Druzhba oil pipeline. That's on top of a pact by producers including Saudi Arabia and Russian Federation to collectively limit production that's seen prices steadily rising for several months. (more...)
American Airlines executives confident 737 MAX will be ungrounded by August 19 American Airlines executives confident 737 MAX will be ungrounded by August 19
- April 27, 2019

Parker said pilots will play a critical role in helping rebuild public trust in the aircraft, and that his decision to remove the planes from American's schedule through August 19 was based on 95 percent certainty that they would be ready to fly by that date. (more...)
Elon Musk and SEC settle dispute over Telsa CEO's tweets Elon Musk and SEC settle dispute over Telsa CEO's tweets
- April 27, 2019

Musk would have to adhere to Tesla rules regarding potentially significant comments by executives, and have tweets or other social media posts pre-approved by "an experienced securities lawyer employed by the company", according to the proposed settlement. (more...)
Netflix Adds 9.6M Subscribers in Q1, Breaks Its Own Record Netflix Adds 9.6M Subscribers in Q1, Breaks Its Own Record
- April 27, 2019

During a first-quarter earnings discussion, Netflix founder and CEO Reed Hastings said that he doesn't "anticipate that [Disney+ and other new streaming services] will materially affect [Netflix'] growth". Just like a wireless Blu-ray player or Smart TV would do, these sticks offer access to all the basic streaming services like Netflix, Hulu, Amazon Prime Video, etc. (more...)
Amazon Alexa’s human auditors could access users’ locations Amazon Alexa’s human auditors could access users’ locations
- April 27, 2019

Some team members can discover the geographic coordinates of an Alexa user; with that information, the data can be typed into a third party mapping application to discover the home address of that user. So far there no complaint has come that any Amazon employee misused data to track down individual users places. An employee of Amazon showed Bloomberg how it worked, revealing that in less than a minute an employee could listen to a request made somewhere in the world and then see an image of ... (more...)
China's Xi promotes building initiative amid debt worries China's Xi promotes building initiative amid debt worries
- April 27, 2019

Xi avoided mentioning debt complaints in a speech Friday at the opening of a forum to celebrate his signature foreign initiative. The three-day forum brings together representatives of more than 100 countries, including 40 heads of state and government seeking to benefit from the projects. (more...)
U.S. economic growth stronger than expected U.S. economic growth stronger than expected
- April 27, 2019

The Commerce Department said Friday that gross domestic product, a measure of all the goods and services produced in a country, expanded at an annualized rate of 3.2% in the first quarter. Consumer spending, which accounts for 70 percent of economic activity, slowed to growth at a rate of just 1.2 percent in the first quarter. For the year, economists believe GDP will expand 2.4 percent, down from last year's 2.9 percent gain, as the boost from the 2017 tax cuts and increased government ... (more...)
Uber gears up for $90bn IPO Uber gears up for $90bn IPO
- April 26, 2019

Lyft went public in March. At the top of the range the listing would value Uber at nearly US$84 billion, based on the number of shares outstanding after the offering, as detailed in the filing . The float will be the largest since Alibaba, the Chinese ecommerce conglomerate, listed on the Nasdaq exchange in 2014. As part of the offer it will sell $500m worth of shares to payment giant, PayPal . (more...)
LG Electronics to shut South Korean phone factory, move production to Vietnam LG Electronics to shut South Korean phone factory, move production to Vietnam
- April 26, 2019

And while smartphone sales are down globally, things are especially hard for LG. The source claims that the Korean phone maker needs to cut down production costs which makes it very important for its manufacturing plant to move out of South Korea. (more...)
Amazon adds in-garage delivery to in-home, in-car options Amazon adds in-garage delivery to in-home, in-car options
- April 26, 2019

This garage delivery service is available in 50 cities. "With this new option, members can truly unlock the convenience of the Amazon experience ". Starting today, Amazon Prime members in the USA can have their packages safely delivered inside their garages. (more...)
Waymo to open new facility in Detroit Waymo to open new facility in Detroit
- April 26, 2019

Earlier in March 2018, Waymo announced that it would diversify it's "fleet" by partnering with Jaguar to produce up to 20,000 vehicles by 2022. Mike Duggan, the Mayor of Detroit confirmed in a statement that Waymo could have established their first 100% dedicated factory for level 4 autonomous vehicles anywhere in the country but have selected Detroit . (more...)
Ghosn wins bail in Japan but banned from seeing wife Ghosn wins bail in Japan but banned from seeing wife
- April 26, 2019

He had formerly been granted bail in March, but then been re-arrested as new charges of misappropriating money for personal use from company sources in the Middle East were filed by prosecutors. The freakish stunt was cooked up by one of his lawyers, Takashi Takano, who later apologised for "tainting" the reputation of his client, who usually appears in public in sharp suits. (more...)
S&P 500, Nasdaq Composite close at all-time highs S&P 500, Nasdaq Composite close at all-time highs
- April 25, 2019

The weak start to trading came as the White House said a USA delegation will visit Beijing next week to continue trade negotiations. The U.S. and China are still embroiled in a trade war that has raised costs for several companies. "That's a cause for concern, " he said. Coca-Cola, United Technologies , Twitter, Hasbro and Lockheed Martin all delivered earnings beats. Analysts are watching corporate reports closely this week as they gauge whether first quarter earnings for US companies ... (more...)
Trump threatens trade war as Harley-Davidson hit by European Union tariffs Trump threatens trade war as Harley-Davidson hit by European Union tariffs
- April 25, 2019

In a sign that the company is trying to lure a new generation of riders, Harley-Davidson acquired StaCyc, which produces electric bikes for kids. Sylvain Filippi, the team's managing director, said: "We're delighted to be welcome such an iconic brand like Harley Davidson into our portfolio of partners". (more...)

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