Economy

Fiat Chrysler ends merger talks with Renault

Fiat Chrysler ends merger talks with Renault

Renault's board members are asking the group's representatives to liaise with their counterparts at Nissan to explore legal action to recover sums paid by the Dutch jointly-owned subsidiary, added th...

by · Economy
Google to buy analytics software firm Looker for $2.6 billion

Google to buy analytics software firm Looker for $2.6 billion

Alphabet's private equity fund CapitalG previously invested in Looker. Looker claims to offer access to complex business analytics without requiring an army of white coated data scientists. Looker chi...

by · Economy
Mexico To Continue Trade, Immigration Talks Thursday

Mexico To Continue Trade, Immigration Talks Thursday

The US warned Mexico Thursday it needed to make more concessions on slowing migration to avoid President Donald Trump's threatened tariffs, as the Mexican leader announced he would visit the borde...

by · Economy
RBI Cuts Rates by 25 Basis Points, Turns 'Accommodative' as Economy Slows

RBI Cuts Rates by 25 Basis Points, Turns 'Accommodative' as Economy Slows

It means, more rate cuts are in the offing in the coming quarters. The apex court had on April 2 struck down RBI's February 12 circular whereby the central bank had mandated lenders to initiate re...

by · Economy
Ford confirms plan to close Bridgend plant with 1,700 job losses

Ford confirms plan to close Bridgend plant with 1,700 job losses

Ford has confirmed it will close a United Kingdom engine factory as part of an overhaul of its unprofitable European operations in an $11 billion global restructuring. A January announcement that near...

by · Economy

American Airlines and Qantas Welcome Tentative Approval of Joint Business

Department of Transportation's tentative approval of the carriers' joint business to better serve customers flying between the United States and Australia and New Zealand. The department is proposing ...

by · Economy
Who cut their interest rates following the RBA's move?

Who cut their interest rates following the RBA's move?

CEO Michelle Bagnall said as a mutual lender, the bank operated for the benefit of its members and passing on the rate cut was the right thing to do. The Reserve Bank lowered the cash rate to 1.25 p...

by · Economy
Mexico: good chance of avoiding tariffs in U.S. talks

Mexico: good chance of avoiding tariffs in U.S. talks

Mexican Foreign Minister Marcelo Ebrard, in Washington for the talks with US officials, said he hoped Wednesday's meeting could be a starting point for negotiations. Traditional pro-business Republica...

by · Economy

Michelin and GM want to run airless tires in five years

The idea of an airless tire is not new. In turn, society at large benefits from "extraordinary environmental savings" through reduced use of raw materials for replacement tire or spare tire production...

by · Economy
Both GM and FCA bought Tesla emissions credits

Both GM and FCA bought Tesla emissions credits

GM and Fiat Chrysler have reported that they purchased federal greenhouse gas emissions credits from Tesla, according to filings made to the state of DE and viewed by Bloomberg . A report by th...

by · Economy
For The Love Of Cars, Avoid A Trade War With Mexico

For The Love Of Cars, Avoid A Trade War With Mexico

Trump himself is out of town on a state visit to Britain, though he's fired Twitter shots from across the sea to repeat his vow to impose tariffs unless Mexico takes tougher action to halt migration a...

by · Economy
Trading of Neil Woodford’s flagship fund suspended after investor exodus

Trading of Neil Woodford’s flagship fund suspended after investor exodus

Investors will not be able to buy or sell units in the fund for at least 28 days, in any case. "As hard a decision as this is, and clearly frustrating for you, our investors, we felt that this was n...

by · Economy
Gold holds near three-month peak on slowdown fears, Fed rate views

Gold holds near three-month peak on slowdown fears, Fed rate views

Federal Reserve Chairman Jerome Powell speaks at a conference involving its review of its interest-rate policy strategy and communications, Tuesday, June 4, 2019, in Chicago. On Tuesday, there were mo...

by · Economy
Facebook Investors Vote for Change at Top. But They Can’t Win

Facebook Investors Vote for Change at Top. But They Can’t Win

Amid calls for more scrutiny over Facebook's business practices in the wake of one privacy mishap after the other, shareholders of the company made a case for Zuckerberg's ouster as Facebook's chair...

by · Economy
BMW partnering with JLR on next-gen EV technology

BMW partnering with JLR on next-gen EV technology

The component they jointly develop will power a majority of the EVs that BMW , Jaguar , and Land Rover will release during the early 2020s. In a joint statement, the two firms said the venture w...

by · Economy
Walmart CEO Calls for Raising the Federal Minimum Wage

Walmart CEO Calls for Raising the Federal Minimum Wage

During a brief address at the company's annual shareholders' meeting held near its headquarters in Rogers, Arkansas, Sanders called on Walmart to pay its hourly workers at least $15 per hour. Earlier ...

by · Economy
Oil bounces off 4-month low, turns positive as stocks rally

Oil bounces off 4-month low, turns positive as stocks rally

World stocks rallied after comments from U.S. Federal Reserve Chairman Jerome Powell drove expectations of a cut in interest rates. Front-month Brent crude futures were at $62.40 at 1150 GMT, up 4...

by · Economy
Nissan Understands Benefits Of Potential Renault-FCA Merger, Yet Remains Noncommittal

Nissan Understands Benefits Of Potential Renault-FCA Merger, Yet Remains Noncommittal

It's possible that a decision to move forward will be reached Wednesday, according to the people, creating the world's third-largest auto maker. The delay came after Nissan , the French carmaker's ...

by · Economy
Pass on rate cut, Treasurer warns banks

Pass on rate cut, Treasurer warns banks

The Reserve Bank of Australia (RBA), at its June monetary policy meeting held this Tuesday, reduced its official cash rate (OCR) by 0.25bps to a record low of 1.25 percent, the first rate cut after th...

by · Economy
China expresses 'strong dissatisfaction' with USA statement on Tiananmen anniversary

China expresses 'strong dissatisfaction' with USA statement on Tiananmen anniversary

Any commemoration of the event is not allowed in China. "We gather here to stop the monster that massacred people at Tiananmen 30 years ago", one of the performers at the event told the massive crow...

by · Economy
United Kingdom manufacturing plunges into decline after Brexit stockpiling drive ends

United Kingdom manufacturing plunges into decline after Brexit stockpiling drive ends

A breakdown of construction found that, of the three subsectors, only house-building expanded last month but not by enough to compensate for the weakness of commercial and civil engineering work. Dunc...

by · Economy
Huawei refutes claims it scaled down phone production

Huawei refutes claims it scaled down phone production

Huawei has said it has been developing its own technology in case it is blocked from using Android. In a statement to Forbes , a spokesperson from Huawei said: "Huawei refutes these claims, our...

by · Economy

Kitchener's Kik sued for $100M over 'illegal' securities offering of digital tokens

In case you are wondering what " disgorgement " means, it is a legal term defined by Black's Law Dictionary as "the act of giving up something (such as profits illegally obtained) on demand or by ...

by · Economy
FTC to Lead Possible Facebook Antitrust Probe

FTC to Lead Possible Facebook Antitrust Probe

The report Monday said the Justice Department, in turn, will lead the Google probe. Technology companies are facing a backlash in the United States and across the world, fueled by some people's be...

by · Economy
Maryland couple found dead in Dominican hotel room

Maryland couple found dead in Dominican hotel room

These latest deaths have been confirmed by Day's sister, Sonya Jackson, and the U.S. Embassy in the Dominican Republic. Holmes and Day arrived May 25 at the all-inclusive Grand Bahia Principe hote...

by · Economy
Giant 'baby Trump' blimp returns amid protests in central London

Giant 'baby Trump' blimp returns amid protests in central London

In his Trump voice, Colbert said: "Look, thank you so much, but don't tell me how it ends, all right". "As such, the US Attorney General is most certainly going to shine some light on parts of t...

by · Economy
Oil falls amid economic slowdown; supply cut consensus offers support

Oil falls amid economic slowdown; supply cut consensus offers support

EDT. The global benchmark fell as low as $60.21 earlier in the session, its lowest since January 29. U.S. West Texas Intermediate (WTI) crude futures were at $52.94 per barrel, down 31 cents, or 0.6...

by · Economy
Reserve Bank looks to jolt alleged

Reserve Bank looks to jolt alleged "strong economy" with rate cut

The Reserve Bank of Australia cut rates by 25 basis points to a historic low of 1.25 per cent, as the pace of growth slowed to levels not seen since the global financial crisis. While seeking to boo...

by · Economy
China warns tourists, companies about risks in US: state media

China warns tourists, companies about risks in US: state media

Xu Yongji, another Ministry of Education official, told state broadcaster CCTV that 13.5% of all Chinese student visa applicants were "unable to make the trip as planned", citing complications with ...

by · Economy
Trump's top economic adviser 'leaving shortly,' president writes on Twitter

Trump's top economic adviser 'leaving shortly,' president writes on Twitter

The president thanked him for his service and called him a true friend. Hassett began serving in the Senate-confirmed post in September 2017. Hassett's departure comes amid a growing trade war bet...

by · Economy
Kia confirms (and explains) the name of its new baby SUV…

Kia confirms (and explains) the name of its new baby SUV…

Kia Motors marked their Indian debut showcasing the handsome looking SP Concept at the 2018 Auto Expo . The SUV will be officially unveiled on June 20, 2019 and will be launched in the second half o...

by · Economy
Reserve Bank interest rates: RBA board meets to decide on borrowing costs

Reserve Bank interest rates: RBA board meets to decide on borrowing costs

The rate, which reflects what the central bank charges commercial banks on overnight loans and influences the setting other interests rates, has sat at a record low of 1.5 per cent since August 2016. ...

by · Economy
AMD shares rise on mobile graphics tie-up with Samsung

AMD shares rise on mobile graphics tie-up with Samsung

The licensing deal mentions coverage for mobile devices, including smartphones , which complement AMD product offerings, which in a way could preclude Samsung from using the new IP in larger form...

by · Economy
Global airlines slash yearly profit forecast on worries over protectionism

Global airlines slash yearly profit forecast on worries over protectionism

It is also a 7 percent decline compared with the 2018 net post-tax profit, which IATA estimated at 30 billion dollars. "Weakening of global trade is likely to continue as the US-China trade war inte...

by · Economy
India May Go For Negotiations, Not Retaliation, After Trump Trade Move

India May Go For Negotiations, Not Retaliation, After Trump Trade Move

New Delhi , however, repeatedly deferred imposition of the new tariffs as it kept the door open for talks to avert a trade war. India's inability to ratchet up the trade dispute stems from its incre...

by · Economy