Business

Business Google invests $550m in Chinese e-commerce giant JD.com
Author: 0 Google invests $550m in Chinese e-commerce giant JD.com

Google's search engine has been blocked in China since 2010 over its refusal to censor search results to comply with local laws. JD.com's US -listed shares rose 2.5 per cent to $44.68 in morning trading on the Nasdaq. "This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world", JD.com Chief Strategy Officer Jianwen Liao said in the press release .

Business Audi CEO arrested in Dieselgate probe
Author: 0 Audi CEO arrested in Dieselgate probe

In spite of continuous denials and public backing from the Volkswagen Group, Stadler has seemed like a man waving a crude torch in the dark, trying to fend off the hunters. Last week, the Munich prosecutor confirmed that Stadler was under investigation. The same goes for Munich prosecutors and Stadler. It is understood the VW group's supervisory board will meet later in the day to discuss the development.

Author: 0 Audi CEO arrested in Germany over diesel scandal

Volkswagen AG, owners of the Audi brand, confirmed Stadler's arrest to the BBC this morning. FILE PHOTO: Audi head of the board Herbert Diess (L) and CEO Rupert Stadler attend company's annual shareholders meeting in Ingolstadt, Germany May 9, 2018.

Business McDonald’s to Scrap Plastic Straws in United Kingdom and Ireland
Author: 0 McDonald’s to Scrap Plastic Straws in United Kingdom and Ireland

The Government has unveiled plans that could see plastic straws, drinks stirrers and cotton buds completely banned from sale in England . McDonald's Corp. The company says paper straws, which are more environmentally friendly, will replace plastic ones starting in September. McDonald's says the new straws will use paper from sustainable sources.

Business Ethereum NOT a Security According to SEC
Author: 0 Ethereum NOT a Security According to SEC

For the SEC not to regulate bitcoin and ether could create some risks for investors, said David Sirignano , a partner at the law firm Morgan Lewis. "How do initiate regulations of security coins without killing the security coins?" However, she said there will be more trouble in the future, as she believes the SEC will have a "hard time figuring out what's a security and what's not".

Business Chinese rideshare company DiDi Chuxing announces Australian launch
Author: 0 Chinese rideshare company DiDi Chuxing announces Australian launch

Didi Chuxing Technology Co Ltd, the Chinese ride-sharing company that bought the mainland operations of Uber Technologies Inc [UBER.UL], will begin offering its service this month in Australia, its first foray in a Western-style country. So, what about the all-important app? "As DiDi grows in Australia it will introduce additional product features that will further improve its efficiency, safety and reliability".

Business European Central Bank to end bond buying
Author: 0 European Central Bank to end bond buying

In a Bloomberg survey, almost half of economists said they believed that the announcement would not be made before July. Canada is also contending with new USA tariffs on steel and aluminum imports as well as slow-moving talks to modernize the North American Free Trade Agreement.

Business Rolls-Royce to axe 4600 jobs in £400m savings plan
Author: 0 Rolls-Royce to axe 4600 jobs in £400m savings plan

While issues with its Trent 1000 jet engine have contributed to financial challenges, Rolls Royce said it will continue to focus on civil aerospace, aiming for a 50% share of the engine market. The restructuring will cost the firm about £500 million - including redundancy costs - over the next three years, but will see it save £400m every year by the end of 2020.

Business UK's N Brown may close 20 stores on receding footfalls
Author: 0 UK's N Brown may close 20 stores on receding footfalls

In 2017, the stores generated an underlying loss of £3m. The Company anticipates that the consultation process will be completed around the time of our half year results in October. The company had a 0.4% dip in group revenue and 2.8% drop in product revenue in its Q1 report. Targeting younger shoppers, Jacamo for men and Simply Be for women are among N Brown's main brands.

Author: 0 Australian employment rose by less-than-expected in May

The full-time job fall was offset by a 32,600 increase in part-time employment. According to numbers released Wednesday by the Employment Security Department, the unemployment rate for May dropped to 4.7 percent from April's 4.8 percent. Employment increased 12,000 to 12,518,300. However, in the Seattle/Bellevue/Everett region, the labor force decreased by 1,700 over the same period.

Business Wetherspoon ditches French Champagne and German beer in run-up to Brexit
Author: 0 Wetherspoon ditches French Champagne and German beer in run-up to Brexit

Company founder Tim Martin, who campaigned for Brexit , said it was part of a transition away from products made in the EU. Martin - a vocal eurosceptic - said the pub chain is reviewing all of its products in a company-wise reshuffle which could take up to two years, something he hopes will make the business "more competitive".

Business China imposes equal tariffs on U.S. imports in retaliation
Author: 0 China imposes equal tariffs on U.S. imports in retaliation

Trump's revised tariff list might exclude some consumer items from an earlier proposal to focus more on goods related to Beijing's " Made in China 2025 " program, Eurasia Group said in a report . China has threatened to retaliate forcefully for any tariffs , listing USA products that range from sorghum, soybeans, meat and whiskey to airplanes and cars.

Business Facebook is tracking you in ways you never knew
Author: 0 Facebook is tracking you in ways you never knew

Facebook has responded to the US Congress list of questions about the social network's policies and data collection framework. Sandy Parakilas, an ex-Facebook employee, claims that that moment "raised red flags", and that the company was well aware of what they were doing.

Business One officer killed, another critically injured by inmate at Kansas City courthouse
Author: 0 One officer killed, another critically injured by inmate at Kansas City courthouse

Other law enforcement agencies in the Kansas City metro have been tweeting words of support and prayers for Wyandotte County, the Star said. The suspect was also shot and was being treated at the same hospital, Bailiff said. "Today's bad events in Kansas City bitterly remind us once again of the dangers and sacrifices faced every day by law enforcement officers throughout our state and nation", Kansas Attorney General Derek Schmidt said.

Business Seattle's City Council Has Repealed The Controversial 'Amazon Tax'
Author: 0 Seattle's City Council Has Repealed The Controversial 'Amazon Tax'

The 2018 World Cup starts tomorrow in Russian Federation. According to soccer journalist Roger Bennett, we might feel that loss this year - he says soccer has grown on Americans over time . Councilwoman Kshama Sawant held a press conference before the meeting to denounce the vote, saying it was "capitulation" to big business, including Amazon.

Business Theranos’ Holmes indicted by feds over blood-test ‘fraud’
Author: 0 Theranos’ Holmes indicted by feds over blood-test ‘fraud’

The indictment came out moments after Theranos said Holmes would be stepping down from the blood-testing company that has unraveled amid revelations that her main product was a fraud. These criminal charges are separate from the civil ones filed in March by the SEC and already settled. Holmes and Balwani "devised a scheme to defraud doctors and patients" through claims that Theranos could provide "accurate, fast, reliable, and cheap blood tests and test results", despite the two knowing ...

Business China-US trade standoff heats up again
Author: 0 China-US trade standoff heats up again

The tariffs are part of the U.S. response to China's policies and practices that require foreign companies to hand over trade secrets involving technology, intellectual property and innovation, the United States government said. "The list does not include goods commonly purchased by American consumers such as cellular telephones or televisions", the U.S.T.R. office said. Friday's action follows an administration report in March that complained China had forced foreign companies to ...

Business Kellogg recalls cereal for possible Salmonella
Author: 0 Kellogg recalls cereal for possible Salmonella

No deaths have been reported to date. More than 60 people have reportedly been infected by the strain and 31 have been hospitalized, but no deaths have been reported. Kellogg's has offered a full refund for the products. Symptoms of Salmonella infection include diarrhea, fever and abdominal cramps. The illness usually lasts about a week or less in healthy adults, but other groups are at a higher risk of developing serious infections and complications.

Business Oil market is ripe for correction; Opec, IEA and EIA reports eyed
Author: 0 Oil market is ripe for correction; Opec, IEA and EIA reports eyed

Opec and its non-Opec allies, led by Russian Federation, will meet in Vienna late next week to decide whether the pact to cut 1.72 million barrels of oil production a day should remain intact after 17 months of restraint. Consultancy Energy Aspects said Gulf OPEC members would likely add less than 1 million bpd immediately, rising to about 1.5 million bpd in three to six months.

Business Trump helps take down Mark Sanford
Author: 0 Trump helps take down Mark Sanford

Mark Sanford (R-SC) was on MSNBC sounding the alarm about the state of his party . Arrington narrowly defeated Sanford after Trump tweeted on election day that Sanford had been unhelpful, adding, "He is better off in Argentina". "Corey Stewart would be an embarrassment for Virginia in the U.S. Senate, where he would eliminate health care for millions of Americans and slash public education funding".

Business Microsoft reportedly developing cashierless store to rival Amazon
Author: 0 Microsoft reportedly developing cashierless store to rival Amazon

Citing six people familiar with the matter, Reuters reported that the software giant is developing technology that would track the items placed in a shopping cart, eliminating the need for shoppers to wait in checkout lines. Instead of being arrested for shoplifting, they would be billed for their items via an app that was scanned as they entered the shop. Reuters said there is no timeline as to when Microsoft will bring the technology to retailers, and it's not clear if it will move ...

Business Average worker can't afford 2-bedroom apartment anywhere in U.S., report says
Author: 0 Average worker can't afford 2-bedroom apartment anywhere in U.S., report says

The report reveals that 41 percent of Cuyahoga County residents are renters, and the housing wage needed is less than the state's average at $15.10. The NLIHC found USA workers need to earn $22.10 an hour to afford a "modest" two-bedroom rental. To define "affordability", it uses the industry standard of spending no more than 30 percent of income on rent.

Business Toyota pours $1 billion into ride-hailing firm Grab
Author: 0 Toyota pours $1 billion into ride-hailing firm Grab

Prior to this, Toyota has also invested in Grab (and its former rival Uber ). Analysts say the rapid investment in ride-hailing firms by traditional carmakers is a sign that auto companies are preparing for a future of reduced vehicle ownership as automated cars and ride-hailing services become the norm.

Business Trump Says He May Upset China Over Trade Action in Coming Weeks
Author: 0 Trump Says He May Upset China Over Trade Action in Coming Weeks

Trump could technically delay implementation of the tariffs until after the November elections if he thinks talks with China are making progress in addressing US concerns about intellectual property theft, according to Bruce Hirsh, head of Tailwind Global Strategies, a trade advisory firm.

Business Merkley: Trump-Kim summit a 'colossal disappointment'
Author: 0 Merkley: Trump-Kim summit a 'colossal disappointment'

A joint declaration after the first meeting between a us president and a North Korean leader called the summit "an epochal event of great significance in overcoming decades of tensions and hostilities between the two countries and for the opening up of a new future".

Business Tesla To Allow Fully Autonomous Features Beginning In August
Author: 0 Tesla To Allow Fully Autonomous Features Beginning In August

Although stories about Tesla "drivers" sleeping and sitting in the passenger seat - and, unfortunately, crashing while reliant on the system - abound, Autopilot is only meant to operate under constant driver supervision. Tesla owners also need to add an additional $3,000 package called Full Self-Driving Capability. With eight active cameras, the system is created to eventually support full self-driving in nearly all circumstances.

Business Record bitcoin price propped up by another digital currency
Author: 0 Record bitcoin price propped up by another digital currency

John Griffin and Amin Shams , of the University of Texas at Austin's Department of Finance, published a study Wednesday linking the stablecoin with bitcoin's prices during the 2017 price increases. The paper alleges that these instances may account for about 50% of the price increases of Bitcoin and 64% of others trading in the top ten. Some cryptocurrency enthusiasts will take issue with comparing the rally previous year with an asset bubble, but it certainly had all the right ...

Business New Leaks For 2018 iPhone Suggest Triple Camera Module
Author: 0 New Leaks For 2018 iPhone Suggest Triple Camera Module

The schematic leak backs up these specifications and also gives information about the smartphone's camera. This is now in debate across the media, with many stating that the third slot is simply for the flash, however this contrasts previous schematics where the flash is distinctly smaller than the lenses themselves.

Business Fed announces rate decision
Author: 0 Fed announces rate decision

Borrowers are likely to see higher bills next month on credit cards and mortgages, especially those with adjustable rates. The Fed's new forecast showed inflation inching up only slightly over the next 2 1/2 years . In the longer run, it maintained the forecast for 1.8% growth. The rate is estimated to fall 3.5% next year , through to 2020, down from the previous forecast of 3.6%.

Business Trump adviser apologizes for saying Trudeau has ‘special place in hell’
Author: 0 Trump adviser apologizes for saying Trudeau has ‘special place in hell’

At the news conference , Trudeau called the USA steel and aluminum tariffs "insulting" and stated that Canada would go ahead with retaliatory tariffs on July 1 unless the American duties were dropped. As we've argued elsewhere , Trump appears to be targeting allies as a means of rupturing their mindset-convincing them that they are no longer deserving of American coddling just because of their geopolitical status.

Business Uber submits patent to detect drunken app users
Author: 0 Uber submits patent to detect drunken app users

It also looks at how many times they tap on the Uber app, exactly where they tap, their walking speed and how long it takes for them to request a ride. The official report says the company is working on artificial intelligence tech for this new patent. The new technology will allow Uber to warn its drivers when a passenger is perceived to be drunk, giving them the opportunity to deny the request for a ride.

Business Fed raises interest rates and signals faster hikes on the way
Author: 0 Fed raises interest rates and signals faster hikes on the way

Even so, raising rates too quickly could prevent vulnerable Americans and pockets of the country still struggling from reaping the benefits of a strong economy. It then raised rates once in 2015, once in 2016, three times in 2017 and now twice this year . But if it miscalculates and overdoes the credit tightening, it can trigger a recession.

Business 12 burning questions about the Trump-Kim Summit, answered
Author: 0 12 burning questions about the Trump-Kim Summit, answered

Earlier Wednesday, North Korea's state KCNA news agency said denuclearization would be a "step by step process" with "simultaneous action", a stance that appeared to contradict the US refusal to offer sanctions relief before North Korea gives up its nuclear weapons.

Business Uber driver who booted 2 kissing women has license suspended
Author: 0 Uber driver who booted 2 kissing women has license suspended

She thought he was joking, ' Iovine, an advertising technology consultant, said. "That's genuinely all it was". "You don't do that here in the vehicle". "He started aggressively coming at us". Elbotari said that he would do the same for a straight couple, but admitted that he has less tolerance for a same-sex couple.

Author: 0 Trump eyes oil prices: ‘OPEC is at it again’

The recent spike in oil should ease in the near term, according to the International Energy Agency's (IEA) latest monthly report, but there could be a large supply gap late next year if the Organization of Petroleum Exporting Countries (OPEC), year as oil demand will grow steadily thanks to a solid global economy.

Business Dixons Carphone hacked, close to 6 million card records compromised
Author: 0 Dixons Carphone hacked, close to 6 million card records compromised

Dixons Carphone said that "unauthorised access" of data held by the company had prompted an investigation, the hiring of external security experts and efforts to shore up its security defences. Dixons Carphone said the 1.2 million personal data records that were hacked saw non-financial personal data, such as name, address or email address, accessed.

Business Senate adopts measure blocking Trump ZTE deal
Author: 0 Senate adopts measure blocking Trump ZTE deal

Shen is ZTE's chief intellectual property officer and acting chief compliance officer. ZTE didn't immediately respond to a request for comment. But the ban on buying USA parts, imposed by the department in April, will not be lifted until the company pays the fine and places $400 million more in escrow in a US -approved bank, the agency said .

Business AT&T-Time Warner Decision: Either Way, Media Is Ailing
Author: 0 AT&T-Time Warner Decision: Either Way, Media Is Ailing

But Comcast has said it's prepped to top Disney's bid for the 21CF assets - and it's widely expected that Comcast will pull the trigger now that the AT&T-Time Warner merger has the go-ahead. It is, he said then, " a deal we will not approve in my administration because it's too much concentration of power in hands of too few". The loss is a black eye for the Justice Department.