Economy

US Restricts Exports to Chinese Semiconductor Firm Fujian Jinhua

US Restricts Exports to Chinese Semiconductor Firm Fujian Jinhua

The controls imposed Monday on Fujian Jinhua Integrated Circuit Co. reflect concern Chinese competition could drive American technology suppliers out of business, leaving the military without secure s...

by · Economy
GE slashes dividend, takes $22 billion charge in 3Q

GE slashes dividend, takes $22 billion charge in 3Q

Also on Tuesday, the company formally announced a charge of US$22-billion related to acquisitions in its power business - a goodwill writedown it had warned was coming when Mr. GE did not cut its ea...

by · Economy
Sam's joins club with no checkouts

Sam's joins club with no checkouts

With Amazon Go , customers pick up items off the shelves and walk out the door, and the items are then charged to their Amazon accounts. To shop the store, customers must download the Sam's Club N...

by · Economy
Digital services tax: What the Budget 2018 announcement really means

Digital services tax: What the Budget 2018 announcement really means

However, Facebook and Google could plausibly argue that they operate primarily in the online advertising space, rather than social media (Facebook) and search engines (Google). "Tackling the digit...

by · Economy
BP shares surge as profits double

BP shares surge as profits double

The group, along with other oil firms, has been riding high on the back of rising oil prices this year. BP's profits were ahead of analysts' expectations, and shares in the company were up 3.9% in e...

by · Economy
The New Home Company Inc. (NYSE:NWHM) Dips Under Moving Averages

The New Home Company Inc. (NYSE:NWHM) Dips Under Moving Averages

The General Electric Company is having a distance of -9.57% form 20 day moving average, SMA 50 of -9.3% and an SMA 200 of -17.93%. General Electric Company a U.S. Keeping a close eye on the fundame...

by · Economy
Swiss tech giant ABB to build new robotics factory in Shanghai

Swiss tech giant ABB to build new robotics factory in Shanghai

The factory, located near ABB's China robotics campus, is due to be operating by the end of 2020 and is to produce robots for China, as well as for export elsewhere in Asia. This will allow producti...

by · Economy
Winner, winner! $150,000 Powerball ticket purchased in Columbia area

Winner, winner! $150,000 Powerball ticket purchased in Columbia area

No winners immediately stepped forward. This is the second astronomical lottery draw this week, with the $1.537 billion Mega Millions lottery drawn on Tuesday with one winning ticket sold in SC. 2...

by · Economy
Dow Jones falls 245 due to new China tariff fears

Dow Jones falls 245 due to new China tariff fears

That stoked anxiety in markets already under pressure by concerns from peak earnings growth to the end of easy money and rising rates. The US is preparing to announce by early December tariffs on al...

by · Economy
Erdogan inaugurates Istanbul Airport, one of world's largest

Erdogan inaugurates Istanbul Airport, one of world's largest

With the opening of the first phase, a total of 90 million passengers can use the airport on a yearly basis. "The new airport will be the pride of our country and an example to the world", Erdogan ...

by · Economy
The Oldest Bitcoin Exchange Bitstamp Sold

The Oldest Bitcoin Exchange Bitstamp Sold

In September, 2017, the company announced it had bought 65% of Korean crypto exchange, Korbit , for US$80m. NXC aims to keep the two exchanges operating separately; however, plans on "generating sy...

by · Economy
FBI Conducting Criminal Investigation Into Tesla

FBI Conducting Criminal Investigation Into Tesla

Musk had said early a year ago that production of Model 3, now priced from $46,000, would reach 5,000 units per week in 2017's fourth quarter, and reiterated that target in July 2017 after product...

by · Economy
Twitter looking to remove 'like' button to improve debate

Twitter looking to remove 'like' button to improve debate

According to The Telegraph , getting endorsements, such as in the form of likes, can be an addictive behavior for some users and cause them to delete their posts if they don't get enough signs of ap...

by · Economy
Gwyneth Paltrow’s Goop reported to United Kingdom regulators for misleading claims

Gwyneth Paltrow’s Goop reported to United Kingdom regulators for misleading claims

This time, the Gwyneth Paltrow-founded lifestyle company is under fire for a supplement called the Mother Load , which is marketed towards new mothers to help them "get back on their feet". And that ...

by · Economy
Tesla Navigate On Autopilot Is The Latest Progression To Fully Autonomous Vehicles

Tesla Navigate On Autopilot Is The Latest Progression To Fully Autonomous Vehicles

The new feature provides lane-change guidance that will keep the auto on its intended route, transitioning from one highway to another or moving the vehicle onto an exit ramp. Tesla says there are tw...

by · Economy
Masked gunman killed by Birmingham McDonald’s customer

Masked gunman killed by Birmingham McDonald’s customer

The masked gunman allegedly burst inside "as the door was opened...and opened fire". When it was over, the dad, the gunman and one of the two sons had been shot, according to WIAT. "Right now it appea...

by · Economy
Lion Air flight from Jakarta to Sumatra crashes

Lion Air flight from Jakarta to Sumatra crashes

Latif said that the jet lost contact with air traffic control some 13 minutes into the flight, and crashed into the sea. Pangkal Pinang is the capital of the province of Bangka, which lies north of ...

by · Economy
Royal Mint shutters plans for gold-based blockchain

Royal Mint shutters plans for gold-based blockchain

The Royal Mint could not be reached for comment on the reports at the time of writing. The project was to have issued digital gold tokens valued at $1 billion. As reported, the U.K government does no...

by · Economy
IBM to gobble Red Hat for $34bn - yes, the enterprise Linux biz

IBM to gobble Red Hat for $34bn - yes, the enterprise Linux biz

A few minutes ago, we announced that Red Hat has signed an agreement to combine forces with IBM in the largest software company acquisition to date. "IBM will become the world's #1 hybrid cloud pr...

by · Economy
Barclays won't face trial on Qatar deal

Barclays won't face trial on Qatar deal

The SFO had sought to prosecute the company for two offences of conspiring to commit fraud by false representations regarding advisory services agreements with Qatar Holding during the global financia...

by · Economy
NY lawsuit against Exxon a 'shakedown': Judge Napolitano

NY lawsuit against Exxon a 'shakedown': Judge Napolitano

None of its statements has been proven in court and a statement of defence has not yet been filed. "I have to sympathize with the statement made by the Exxon Mobil spokesman, which was to point out ...

by · Economy
U.S. economy grew at strong 3.5 percent rate in 3rd quarter

U.S. economy grew at strong 3.5 percent rate in 3rd quarter

That was driven by an unwinding of the hefty boost from net exports in the second quarter when US exporters of soybeans and other products accelerated shipments to beat retaliatory tariffs from overse...

by · Economy
Startups in India see 108% growth in funding in 2018, says NASSCOM

Startups in India see 108% growth in funding in 2018, says NASSCOM

Ghosh said from Nasscom perspective, it was very clear that cyptocurrencies were illegal . However, Nasscom noted that funding at the seed stage is in decline. Early-stage funding registered ...

by · Economy
The 26-30 railcard for millennial travellers is going back on sale

The 26-30 railcard for millennial travellers is going back on sale

Dubbed "the millennial railcard", the roll-out comes after a nationwide trial was launched by The Rail Delivery group in March earlier this year, when 10,000 people aged 26-30 were able to test out ...

by · Economy
Oil falls on oversupply worries despite Iran sanctions

Oil falls on oversupply worries despite Iran sanctions

Brent crude oil was down 70 United States cents at $76.19 per barrel by 7.40am GMT, on course for a weekly loss of more than 4%. The global benchmark marked a weekly loss of about 2.7 per cent and...

by · Economy
ESPN Host Rips WWE For Holding Crown Jewel In Saudi Arabia

ESPN Host Rips WWE For Holding Crown Jewel In Saudi Arabia

One of those most insistent in trying to persuade the journalist to return to Saudi Arabia was Saud al-Qahtani, a close confidant of the crown prince, who made Khashoggi a number of lucrative offers i...

by · Economy
Vacuum cleaner company plans to build self-driving cars

Vacuum cleaner company plans to build self-driving cars

Dyson has plenty of experience working with batteries, electric motors and sleek luxury designs. Despite the company's base being in Britain, CEO Jim Rowan cited several reasons for its factory loc...

by · Economy
Tesla reportedly faces FBI investigation over production numbers

Tesla reportedly faces FBI investigation over production numbers

The Journal reported that the FBI is investigating whether the company made projections about its Model Three production knowing it would be impossible to meet those goals. Musk set lofty goals and in...

by · Economy
New Fed vice chair signals more rate hikes ahead

New Fed vice chair signals more rate hikes ahead

Trump claims Fed chairman Powell "almost looks like he's happy" to be raising interest rates. Nearly a year since nominating Powell to the post, Trump told the Wall Street Journal in an interview ...

by · Economy
$50,000 Powerball ticket purchased in Lexington

$50,000 Powerball ticket purchased in Lexington

That means he won about $7,000, before taxes. Livingston's niece, Bobbie Mickle, told the station that at first she didn't believe him. "I thought he was confused, maybe from pain meds". Winners hav...

by · Economy
Ryanair passenger denies he is racist after tirade at elderly woman

Ryanair passenger denies he is racist after tirade at elderly woman

Mesher told " Good Morning Britain " that the event was "just a fit of temper" and that he is "not a racist person by any means". "I had to get to the window seat and I said, 'I've got to get to the...

by · Economy
Saudi crown prince jokes about detainment of Lebanese prime minister

Saudi crown prince jokes about detainment of Lebanese prime minister

Khashoggi's death has derailed the powerful prince's campaign to project a modern image of the ultraconservative country, instead highlighting the brutal lengths to which some top officials in the gov...

by · Economy
Tesla drops to third-worst in Consumer Reports reliability rankings

Tesla drops to third-worst in Consumer Reports reliability rankings

Infiniti +1 7. Audi -3 8. The less-great surprises reflect lowered scores for a number of domestic automakers. The Blue Oval was immediately followed by General Motors' Buick, which fell out of th...

by · Economy
Number of billionaires rises rapidly

Number of billionaires rises rapidly

Collectively, their wealth increased by $1.4bn previous year to $8.9bn - the largest absolute increase in billionaire wealth in history. The world's billionaires experienced the biggest wealth incre...

by · Economy
Twitter Lost 9 Million Monthly Active Users Last Quarter

Twitter Lost 9 Million Monthly Active Users Last Quarter

Investors pay close attention to monthly user data because it is seen as a key indicator of future revenue, the bulk of which comes from ad sales. "If they are getting rid of bots, fake accounts and...

by · Economy