Business

Business ZTE has reached a deal to have USA sanctions lifted
Author: 0 ZTE has reached a deal to have USA sanctions lifted

In response to this situation, the USA government made a decision to prohibit the companies of that country for seven years to purchase components of the Chinese corporation, a measure that forced ZTE to temporarily cease its activities in the cell phone sales market.

Business Apple to ship 20% fewer new iPhones than expected this year
Author: 0 Apple to ship 20% fewer new iPhones than expected this year

It was expected to sell 53 million iPhones . It says the iPhone, which has contributed to 86% of Apple's revenue growth over the past five years, will make up just 22% of the company's revenue growth over the next five. US-based supplier Advanced Micro Devices, Micron Technology Intel , Broadcom , and Qualcomm were all down between 1 per cent and 4 per cent. "As the improvements made to the iPhone each year become increasingly marginal it may become more hard to convince consumers to ...

Business Kitty Hawk Flyer ready for production
Author: 0 Kitty Hawk Flyer ready for production

Kitty Hawk CEO Sebastian Thrun in an interview with the CNBC said that the Flyer could take to the skies within five years. The electric aircraft is capable of vertical take-off and landing like a helicopter. Kitty Hawk-named after the North Carolina town where the Wright brothers made their famous flights-previously unveiled a prototype of the Flyer early past year.

Business France Warns Trump That It Will Not Sign a G-7 Statement
Author: 0 France Warns Trump That It Will Not Sign a G-7 Statement

Macron has concluded that the other members of the G7 - the U.K., Germany, Japan, France, Italy and Canada - must stand up to the USA over Trump's decision to impose tariffs on steel and aluminum from the European Union, Canada and Mexico as well as other issues.

Business 'We begin our fight now': Harvey Weinstein pleads not guilty
Author: 0 'We begin our fight now': Harvey Weinstein pleads not guilty

Detectives found little physical evidence of an attack and have been unable to secure proof that Weinstein was at the hotel when the woman says the rape occurred. The disgraced producer has been accused of sexual misconduct by over 70 women across numerous incidents spanning back decades. Weinstein has reportedly spent months in treatment for sex addiction.

Business Trump raises 204-year-old grievance as trade war with Canada intensifies
Author: 0 Trump raises 204-year-old grievance as trade war with Canada intensifies

Trump's top economic adviser, Larry Kudlow, was vague Wednesday on the outcome of the summit, saying: "For these kind of decisions, let them meet first". A senior Government source said: "The PM has always said we should engage with Russian Federation but beware". "The American President may not mind being isolated", Macron wrote on Twitter, "but neither do we mind signing a 6 country agreement if need be".

Business Poundworld set to appoint administrators, putting 5300 jobs at risk
Author: 0 Poundworld set to appoint administrators, putting 5300 jobs at risk

Poundworld founder Chris Edwards is said to have been attempting to put together a rescue bid for a chunk of the company. United States firm Flacks, which had expressed interest, is also understood to no longer be a contender. Several retailers have shown significant financial distress this year, with both Maplin and Toys R Us disappearing from the high street. A CVA at Poundworld would, if approved by creditors, lead to its store estate being reduced to around 250 shops with 4,000 ...

Business Google says it won't build AI for weapons
Author: 0 Google says it won't build AI for weapons

Google expects to have talks with the Pentagon over how it can fulfil its contract obligations without violating the principles outlined Thursday. As a leader in AI, we feel a deep responsibility to get this right. Google reportedly said the wording changed because the company can't control all uses of its AI technology. Where there is a material risk of harm, we will proceed only where we believe that the benefits substantially outweigh the risks, and will incorporate appropriate safety ...

Business Iran criticizes USA for Saudi oil request
Author: 0 Iran criticizes USA for Saudi oil request

Some analysts have also anxious that steady USA supply could limit future gains after oil rose to a multiyear high in late May, and prices fell Wednesday on the back of rising US inventories. The United States government has unofficially asked Saudi Arabia and some other OPEC producers to increase output, sources said on Tuesday. More generally, Brent has been pushed up by voluntary production cuts led by the Middle East dominated producer cartel of the Organization of the Petroleum ...

Business Statistics Canada says trade deficit narrowed to $1.9 billion in April
Author: 0 Statistics Canada says trade deficit narrowed to $1.9 billion in April

Despite the April dip, the trade deficit is still on track to reach a 10-year high in 2018. The agency says the deficit amounted to $1.9 billion compared with a deficit of $3.9 billion in March. The latest trade figures came after an announcement by the USA last week that exemptions from steel and aluminum tariffs that Canada, Mexico and the European Union had received would expire.

Author: 0 Trump falsely accuses Canada of burning down White House

The G-7 Summit-a group consisting of the U.S., France, Canada , the United Kingdom, Germany, Italy and Japan-is set to begin Friday in Quebec, with most of the member nations recently clashing with Trump over new tariffs. Mr Macron was speaking alongside Canadian prime minister Justin Trudeau , who is hosting the summit, and the pair signalled they would warn Mr Trump of the potential damage tariffs could cause the US.

Business Ghana government to take steps to dissolve GFA following Anas exposé
Author: 0 Ghana government to take steps to dissolve GFA following Anas exposé

He said the government would soon announce provisional measures to govern football activities until a new association could be formed. The information minister said the documentary "exposes gross malfunctioning of the Ghana Football Association characterised by widespread fraud, corruption and bribery".

Business Italy's new populist government nears full confidence vote
Author: 0 Italy's new populist government nears full confidence vote

Italian Prime Minister Giuseppe Conte (5th R, rear) speaks ahead of the confidence vote in Senate in Rome , Italy , on June 5, 2018. The alliance between the anti-establishment Five Star Movement and the far-right League gained the Senate's endorsement with 171 votes in favour, 117 against and 25 abstentions.

Business Trump's phone call with Macron described as 'terrible'
Author: 0 Trump's phone call with Macron described as 'terrible'

Leaders of the Group of Seven rich nations headed for a summit in Canada on Thursday more divided than at any time in the group's 42-year history, as U.S. And Trudeau, the summit's host, said Sunday that the tariffs were " insulting " to the longstanding alliance between the us and Canada. Trudeau and Macron met in Ottawa this week ahead of the summit, where they joined together in a united front against Trump's tightening trade measures.

Business Medicare out of money in 2026
Author: 0 Medicare out of money in 2026

Lackluster economic growth in previous years, coupled with an aging population, has contributed to the projected shortages for both Social Security and Medicare. The agency said it is trying to lower costs for Medicare recipients and strengthen the program, through proposals that would increase price transparency.

Business France won’t sign G7 statement without concessions from Trump
Author: 0 France won’t sign G7 statement without concessions from Trump

It was a British colony. Canada announced plans to impose reciprocal duties on $12.8 billion worth of USA products. Trump is trying to use the threat of tariffs on steel and aluminum imports , as well as other goods, to force numerous countries to agree to trade concessions.

Business Ethiopia 'accepts peace deal' to end Eritrea border war
Author: 0 Ethiopia 'accepts peace deal' to end Eritrea border war

Eritrea had accepted EEBC's decision and refused to submit to any further negotiation without the prior acceptance by Ethiopia of the commission's decision. The countries fought a war from 1998 to 2000 over their border dispute, which left about 80,000 people dead. The 41-year-old former army officer was appointed by the EPRDF after his predecessor, Hailemariam Desalegn, resigned in February following three years of unrest in which hundreds of people were killed by security forces.

Business Salad days are over ... now Heinz labels it Sandwich Cream
Author: 0 Salad days are over ... now Heinz labels it Sandwich Cream

Which is a bit like changing the name of tomato ketchup to "chips sauce" or HP renaming its sauce something like "bacon sandwich lubricant" or milk suddenly being called "cereal softener" or "tea lightener". United Kingdom sales of the brand dipped 5.4 per cent to £28.8million a year ago. Spirit Vinegar, Rapeseed Oil (25%), Water, Sugar, Mustard, Pasteurised Egg Yolks (3%), Modified Cornflour, Salt, Stabilisers - Guar Gum and Xanthan Gum, Colour - Riboflavin.

Business HBC reports wider loss, will close some Lord & Taylor stores
Author: 0 HBC reports wider loss, will close some Lord & Taylor stores

Hudson's Bay , like many other traditional retailers, has been hurt by the rise of Amazon and online commerce in general. With HBC's results, it's easy to understand her urgency: HBC reported a net loss of $400 million, or $1.70 a share, in its first quarter, nearly double the $221 million loss, or $1.21 per share, a year earlier.Stripping out some one-time items, the adjusted net loss was $286 million, worse than the $200.5 million figure financial analysts were expecting, according to ...

Business David Koch steps down from Koch Industries
Author: 0 David Koch steps down from Koch Industries

According to the Koch Industries website, "to millions of Americans, the words "Koch brothers" and " political activism" go hand-in-hand". "We are deeply saddened by this as we miss David's insightful questions and his many contributions to Koch Industries", the letter said .

Business China's ZTE signs preliminary agreement to lift USA ban
Author: 0 China's ZTE signs preliminary agreement to lift USA ban

Moreover, the U.S. Commerce Department is expected to count the $361 million ZTE paid a year ago as part of a settlement agreement, which will allow the government to claim no less than $1.7 billion in penalties. A man walks past a building with the ZTE logos in Beijing. At that time, the USA discovered documents that showed how ZTE established new entities to sell US technologies to Iran.

Business Popular DNA testing service reports breach affecting 92 million users
Author: 0 Popular DNA testing service reports breach affecting 92 million users

MyHeritage learned of the breach only after the researcher, who was not named, contacted the company's chief information security officer, Omer Deutsch. MyHeritage allows users to search a vast trove of genealogy records to build up family trees and discover the histories of their ancestors. Nevertheless, the company recommends that all users change their passwords "for maximum safety".

Business Monetary policy: RBI hikes repo rate by 25 basis points to 6.25%
Author: 0 Monetary policy: RBI hikes repo rate by 25 basis points to 6.25%

The repo rate is pegged at 6.25% from the earlier 6% and the reverse repo rate has been raised to 6% from the earlier 5.75%, in the June bi-monthly meet. The agency's rival Care Ratings said that it had anticipated for a status quo in rates at the policy announcement and added that it expects "at least" another 0.25 per cent hike in rates by December and possibly one more by March next year.

Author: 0 Chinese firm ZTE reaches preliminary agreement with U.S. to restore business

One billion dollars would be settled under the deal - adding to $361 million that the company agreed a year ago to pay - and another $400 million would be held in escrow should there be any future violations of the deal. Citing "sources familiar with the matter", Reuters disclosed Tuesday that ZTE could soon be allowed to buy the USA products. It also has to replace its board of directors and top-level executives within 30 days of signing the agreement.

Business US Farmers Face Broadening Trade Threats
Author: 0 US Farmers Face Broadening Trade Threats

Canada sends about 75 per cent of its exports to the United States so its economy could be hurt if a deal on NAFTA is not reached. Mexico Economy Minister Ildefonso Guajardo said NAFTA had been "highly beneficial" and attracted foreign investors seeking access to the North American market.

Business Elon Musk remains chairman of Tesla's board of directors
Author: 0 Elon Musk remains chairman of Tesla's board of directors

In the wake of several high profile crashes and frustrating production schedules, this year's annual Tesla shareholders' meeting was slightly more tense than ones before it. Tesla's board of directors did not support the proposal and said Musk's role as the company's chairman has been essential to Tesla's success so far and will allow the company to quickly adapt to new challenges.

Business Nicaragua bishops condemn attacks on protesters, Jesuit university
Author: 0 Nicaragua bishops condemn attacks on protesters, Jesuit university

It blamed police and Sandinista gangs. Demonstrators hold national flags during a protest against Nicaraguan President Daniel Ortega's government in Managua, Nicaragua . AI explained, "The government would appear to be using this "shock" tactic of attacks carried out by private individuals as part of a strategy in order to make the subsequent identification of those responsible for human rights violations more hard and to increase its capacity for repression".

Business Crude hits lowest since early April
Author: 0 Crude hits lowest since early April

It's not clear precisely how the request was communicated. Later in the session, the American Petroleum Institute will publish its weekly report on U.S. United States crude production climbed in March to 10.47-million barrels per day, a monthly record, data from the Energy Information Administration showed last week.

Business Government clears way for Fox's Sky bid
Author: 0 Government clears way for Fox's Sky bid

In news that has effectively fired the starting gun on a takeover battle for the satellite broadcaster, Matt Hancock, the culture secretary, cleared the two competing bids. The Murdoch-controlled Fox has been attempting to address those concerns through a series of concessions, including selling Sky News to Disney once the deal is complete.

Business Petrol prices cut by 13 paise, diesel by 9 paise
Author: 0 Petrol prices cut by 13 paise, diesel by 9 paise

In the last seven days, petrol prices have been slashed by around 60 paise per litre in Delhi, while Diesel is down almost 45 paise across different cities. According to the website of Indian Oil Corporation Limited (IOCL), the price of petrol was retailing at Rs 77.83/litre in the national capital; Rs 80.47/litre in Kolkata; Rs 85.65/litre in Mumbai; Rs 80.80/litre in Chennai and Rs 79.10/litre in Bengaluru.

Business Trade war: What you missed over the weekend
Author: 0 Trade war: What you missed over the weekend

Mexico said on Monday it plans to file a complaint against the U.S.in the World Trade Organization , where it's challenging the imposition of tariffs on its products, specifically a 25 percent charge on its steel and 15 percent charge on its aluminum.

Business Google Halts A.I. Drone Deal With Pentagon Following Staff Protests
Author: 0 Google Halts A.I. Drone Deal With Pentagon Following Staff Protests

Google has been always been criticized for avoiding tax, destroying small businesses online, but now Google has finally stooped to a new low. Google would not choose to pursue Maven today because the backlash has been awful for the company, Greene said, adding that the decision was made at a time when Google was more aggressively pursuing military work.

Business Ticket sales brisk as Lotto Max reaches largest jackpot ever
Author: 0 Ticket sales brisk as Lotto Max reaches largest jackpot ever

Marie and area won $2 million in Friday's draw. The winning numbers were 1, 7, 10, 17, 35, 37 and the bonus number was 43, and whoever it is that matched the numbers has bagged themselves a total prize of €4,325, 656 . Odds of winning any prize are one in 6.6 per play. Elliot Lake's Robert Longworth pocketed $1 million from a Maxmillions draw in November 2012. Thirty-three tickets across Canada, 19 of them in Ontario, won Maxmillions prizes.

Business Asian markets track European losses, strong yen hits Nikkei
Author: 0 Asian markets track European losses, strong yen hits Nikkei

The moves meant Milan's bourse . FTMIB was 0.7 percent higher, Britain's FTSE .FTSE and France's CAC .FCHI added 0.2-0.4 percent though Germany's DAX .GDAXI stalled after a report that President Donald Trump aims to push German carmakers out of the United States .

Business Howard Schultz Is Stepping Down As Starbucks Executive Chairman
Author: 0 Howard Schultz Is Stepping Down As Starbucks Executive Chairman

Howard Schultz , who helped build Starbucks into a global food industry powerhouse, is stepping down as executive chairman of the coffee chain. In the years following his return to Seattle, Schultz purchased Starbucks with the support of local investors and dedicated his career to bringing his vision of a modern coffee house to life in America and around the world.

Author: 0 Apple's new phone software speeds up older devices

A big part of iOS 12 is Apple's focus on performance for older devices. It may be too soon for any big changes, but Apple could preview the Siri improvements it hopes to make. An example is saying "where are my keys" to have an app open which locates your auto keys. Apple also showed off a new AR tool, Measure, that turns your phone into an $800 ruler.

Business White House hails surge in hiring, low unemployment rate in May
Author: 0 White House hails surge in hiring, low unemployment rate in May

The economy has been expanding for nearly nine years , the second-longest streak on record. Roughly an hour before the employment data was released at 8:30 a.m. That's important because economists worry that people who are out of work for long periods can see their skills erode. Yet employers now seem more willing to hire them.

Business Visa investigates
Author: 0 Visa investigates "service disruption" across Europe

Customers have reported money going missing from accounts when their cards were declined - including one man who lost £10,000 when paying for a vehicle. At Home Bargains in the nearby Cityside shopping centre, staff said that the Visa outage had been frustrating for both customers and staff. "This is an issue with Visa and not us I'm afraid".

Business Dog Dies on Delta Air Lines
Author: 0 Dog Dies on Delta Air Lines

The death last week comes months after a French Bulldog died on a United Airlines flight from Houston to NY after a flight attendant insisted the owners put the dog in the overhead carrier. Two hours later, the dog was dead. This is just the latest controversy for the commercial airliners involving dogs. "The family is very upset", Oshan told CNN .

Business Google Ditches Department of Defense, Updates Its Code of Ethics
Author: 0 Google Ditches Department of Defense, Updates Its Code of Ethics

The Silicon Valley tech giant reportedly announced to employees Friday that it won't seek another contract with the Air Force artificial intelligence initiative once this one is over in 2019, according to Gizmodo . Emails from Google managers obtained by Gizmodo show that the project was meant to be more wide-reaching than Google originally indicated. Additionally, from 2014 to 2017, Google owned Skybox Imaging, a satellite company specializing in taking high-quality photos and videos.

Author: 0 Sault and area tickets win $2 million

Following the recent Lotto Max draw on Friday, June 1, OLG states that there are quite a few lucky winners in Ontario. Two tickets sold in the Sault Ste. A record-breaking lottery jackpot could be won on Friday night. A $1-million victor was also purchased in nearby Mississauga. The Lotto 6/49 draw for Saturday, June 2nd is an estimated $5 million dollars.

Business Amazon shares rise; tech giant to block Australian users from United States site
Author: 0 Amazon shares rise; tech giant to block Australian users from United States site

The changes referred to relate to a decision to scrap the previous $1000 threshold for imposing GST on online purchases from overseas. After that date, Aussie customers who attempt to visit the United States version of Amazon or any of Amazon's overseas sites will find themselves redirected to Amazon's Australian site, which offers a much smaller selection of items.

Business Deutsche Bank hit with downgrade, CEO reassures employees
Author: 0 Deutsche Bank hit with downgrade, CEO reassures employees

A rare comment by a supervisory source that Deutsche Bank was making good progress and its regulators were reassured by its plans helped calm investor nerves, but also exposed a potential rift between the ECB and its USA counterparts. The sources added that with the Deutsche Bank's shares trading near an all time low after persistently negative news, there was a need to reassure markets since a snowball effect could cause lasting damage to the bank.

Business Air India sale bid draws a blank as no suitors emerge
Author: 0 Air India sale bid draws a blank as no suitors emerge

Choubey said on Wednesday the government had no plans to extend the May 31 deadline. IndiGo's former president Aditya Ghosh, in a statement , earlier said, "From day one, IndiGo has expressed its interest primarily in the acquisition of Air India's global operations and Air India Express".

Business B.C. minimum wage increases on June 1
Author: 0 B.C. minimum wage increases on June 1

President Justice Iain Ross said compared to this time previous year, economic indicators now point more "unequivocally to a healthy national economy and labour market". "Such adverse effects will impact on those groups who are already marginalised in the labour market and on households vulnerable to poverty due to loss of employment or hours", Justice Ross said.