Business

Business Dow falls 287 points as trade war fears escalate
Author: 0 Dow falls 287 points as trade war fears escalate

The MSCI world equity index, which tracks shares in 47 countries, fell 0.3 per cent, nearing a seven-day low. US President Donald Trump has threatened to impose tariffs on an additional $200 billion worth of Chinese goods in a escalating trade row with Beijing, which on Tuesday accused Washington of "blackmail" and warned it would "strike back hard".

Business Merkel faces 2-week ultimatum to secure asylum deal
Author: 0 Merkel faces 2-week ultimatum to secure asylum deal

In addressing further combating the migration crisis, Merkel noted Germany would bar migrants who are already registered in other European nations. German Interior Minister and leader of the Christian Social Union (CSU) Party Horst Seehofer gestures after giving a press conference after the party meeting at the CSU headquarters in Munich on June 18 2018 .

Business The Volkswagen diesel scandal claims another executive scalp
Author: 0 The Volkswagen diesel scandal claims another executive scalp

In early June, Munich prosecutors summoned Stadler to answer questions alongside ex-VW Group CEO Martin Winterkorn, former Audi technical director Ulrich Hackenberg, and other Group execs concerning the emissions investigation. Audi, Volkswagen AG's luxury vehicle maker, declined to comment further on the issue, citing the ongoing investigations. Wolfgang Hatz, a former VW manager who joined Audi unit in 2001 and from 2007 to 2011 ran VW's motor development, remains in custody in Munich .

Author: 0 EU to start imposing retaliatory tariffs on US on Friday

At the start of the month, the United States introduced 25 per cent tariffs on steel and 10 per cent on aluminium, with Mr Trump justifying the move as national security. However, President Donald Trump has now asked officials to identify a further $200bn of Chinese goods to be subject to a 10% tariff. She described the EU's response "measured, proportionate and fully in line with WTO rules".

Business Cryptocurrencies Fall as Korean Exchange Says $32 Million of Coins Stolen
Author: 0 Cryptocurrencies Fall as Korean Exchange Says $32 Million of Coins Stolen

The price of Bitcoin is on the slide today after the South Korean cryptocurrency exchange Bithumb said $31.5 million worth of virtual coins were stolen by hackers. It has fallen roughly 70 percent from its all-time peak hit around mid-December 2017. Enthusiasm for virtual currencies has waned this year partly due to a string of cyber heists, including the almost $500 million theft from Japanese exchange Coincheck Inc.in late January.

Business Technical issue causes flight cancellations at Charlotte Douglas
Author: 0 Technical issue causes flight cancellations at Charlotte Douglas

These cancellations come after 120 PSA flights were canceled out of Charlotte on Thursday evening - which has snowballed into cancelations, delays and all sorts of issues throughout the weekend. on Friday. It's the second time since Friday that the carrier has dealt with the issue. An American Airlines spokesperson released a statement to WBTV Sunday about the mishap.

Business Microsoft employees call on company to cancel contract with ICE
Author: 0 Microsoft employees call on company to cancel contract with ICE

As tensions simmered online, Microsoft, which is led by CEO Satya Nadella , released a statement saying it was "dismayed by the forcible separation of children from their families at the border". It also urged the Trump administration to change that policy. While Microsoft didn't tackle the subject of its cloud platform being used by the ICE, it was fairly adamant that Azure isn't being used to facilitate the rather nasty and dystopian activities of the ICE.

Business The burgeoning US-China trade war has entered a new phase
Author: 0 The burgeoning US-China trade war has entered a new phase

According to the New York Times article , Trump promised Cook that he wouldn't place tariffs on iPhone assembled in China. China slammed the threats as "blackmail" and warned that if the United States followed through with the tariffs it would "have no choice but to take comprehensive measures of a corresponding number and quality and take strong, powerful countermeasures".

Author: 0 Trump lashes out at Canada over trade

Also, goods made in other countries but bought in the United States have tariffs assessed based on their home country rather than the USA rate. "Canada is not going to take advantage of the United States any longer". Foreign Affairs Minister Chrystia Freeland told the Commons global trade committee that the "absurd and insulting" USA action will meet with a firm response.

Business McDonald’s to switch to paper straws in some European locations
Author: 0 McDonald’s to switch to paper straws in some European locations

McDonald’s said Friday, June 15, 2018 it will switch to paper straws at all its locations in the United Kingdom and Ireland, and test an alternative to plastic ones in some of its US restaurants later this year. But regardless of why the single-use plastic bans are planned, the end result will be better for the environment. As environmentalists put pressure on businesses to move away from ocean-clogging, marine life-killing plastics , McDonald's is working to make the switch on ...

Business Elon Musk launches investigation into sabotage at Tesla
Author: 0 Elon Musk launches investigation into sabotage at Tesla

It also hints at foul play from outside industries, with Musk citing the "oil and gas companies" who "don't love the idea of Tesla advancing the progress of solar power and electric cars". "Could just be a random event, but as Andy Grove said, 'Only the paranoid survive.'" Musk wrote. In a "strange incident that was hard to explain", Musk wrote that a small fire on a manufacturing line had stopped production for several hours.

Business Trump threatens to impose more trade tariffs on China
Author: 0 Trump threatens to impose more trade tariffs on China

He said the U.S. would impose tariffs on another $200 billion after that if Beijing retaliates. Tuesday's stock-market slide has sparked a risk-off trade with money moving into the safety of the US dollar and US Treasurys. United States trade war will hurt firms, people of USA and China. Washington and Beijing appeared increasingly headed toward open trade conflict after negotiations failed to resolve U.S.

Business Donald Trump ratchets up China trade dispute with new tariffs
Author: 0 Donald Trump ratchets up China trade dispute with new tariffs

Gulf oil producers may benefit from China's threat to impose import tariffs on USA crude and other energy products, as key exporters meet to discuss production increases later this week. "The United States initiated a trade war and violated the laws of the market". Led by President Donald Trump , U.S. officials have started a trade war with China in an effort to wring concessions from the country, which has surged economically over the past two decades due to low-cost labor and lax ...

Business Trump targets another $200 billion in China imports with tariffs
Author: 0 Trump targets another $200 billion in China imports with tariffs

Trump on Friday announced hefty tariffs on $50 billion of Chinese imports, laying out a list of more than 800 strategically important imports from China that would be subject to a 25 per cent tariff starting on July 6, including cars. West Texas Intermediate crude - the US benchmark for crude oil - fell to its lowest point Monday since the first week of April, and 11 percent from its recent high of over $72 on May 21.

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.

Author: 0 White House Hits China With New Tariffs, Ramping up Trade War

The program was targeted "in light of China's theft of intellectual property and technology and its other unfair trade practices", Trump said. Earlier on Friday, US President Donald Trump said Washington would respond with more tariffs if China retaliated.

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.