Markets
Poundworld to appoint administrators putting 5300 jobs at risk
- June 08, 2018
Poundworld is owned by TPG Capital whose potential buyer, Alteri Investors, decided against saving the business. According to the Press Association, Alteri Investors has walked away from talks over an acquisition from U.S. Mr Edwards, who pocketed an estimated £75 million from the deal with TPG, has since been appointed to run Poundstretcher, which has also experienced hard trading. (more...)
- June 08, 2018
Poundworld is owned by TPG Capital whose potential buyer, Alteri Investors, decided against saving the business. According to the Press Association, Alteri Investors has walked away from talks over an acquisition from U.S. Mr Edwards, who pocketed an estimated £75 million from the deal with TPG, has since been appointed to run Poundstretcher, which has also experienced hard trading. (more...)
Google says its A.I. won't be used for weapons, surveillance
- June 08, 2018
It planted its ethical flag on use of AI just days confirming it would not renew a contract with the United States military to use its AI technology to analyze drone footage. Google's $800 billion parent company, Alphabet, is considered one of the world's leading authorities on AI and employs some of the field's top talent, including at its London-based subsidiary DeepMind. (more...)
- June 08, 2018
It planted its ethical flag on use of AI just days confirming it would not renew a contract with the United States military to use its AI technology to analyze drone footage. Google's $800 billion parent company, Alphabet, is considered one of the world's leading authorities on AI and employs some of the field's top talent, including at its London-based subsidiary DeepMind. (more...)
Oil gains on Venezuela export cuts, OPEC production levels
- June 08, 2018
Brent crude futures LCOc1 fell 66 cents to $76.66 a barrel by 1:32 p.m. EDT [1732 GMT]. Surging U.S. production has capped gains in WTI prices, widening the grade's discount to Brent to more than $11 a barrel CL-LCO1=R . China's May crude oil imports eased away from a record high hit the month before, customs data showed on Friday, with state-run refineries entering planned maintenance. (more...)
- June 08, 2018
Brent crude futures LCOc1 fell 66 cents to $76.66 a barrel by 1:32 p.m. EDT [1732 GMT]. Surging U.S. production has capped gains in WTI prices, widening the grade's discount to Brent to more than $11 a barrel CL-LCO1=R . China's May crude oil imports eased away from a record high hit the month before, customs data showed on Friday, with state-run refineries entering planned maintenance. (more...)
US Trade deficit falls due to rising exports
- June 08, 2018
The deficit with China in goods only, the principal driver of the overall United States trade gap, fell 9.8% for the month as U.S. imports from the industrial giant fell Dollars 4.7 billion to USD 41.9 billion. Exports rose 1.6% in April while imports fell 2.5%. Imports fell after two straight months of rises. In 2017, the import value of the USA goods that may be subject to the proposed tariffs was $19.4 billion. (more...)
- June 08, 2018
The deficit with China in goods only, the principal driver of the overall United States trade gap, fell 9.8% for the month as U.S. imports from the industrial giant fell Dollars 4.7 billion to USD 41.9 billion. Exports rose 1.6% in April while imports fell 2.5%. Imports fell after two straight months of rises. In 2017, the import value of the USA goods that may be subject to the proposed tariffs was $19.4 billion. (more...)
Government publish customs "backstop" plan after last minute talks
- June 08, 2018
The backstop proposal, which is at the centre of a devastating Cabinet row, aims to stop Britain entering into certain types of trade deal. The so-called backstop proposal was published after last-minute wrangling over the wording with Brexit Secretary David Davis, who was reported to have been considering resigning unless it included a time limit. (more...)
- June 08, 2018
The backstop proposal, which is at the centre of a devastating Cabinet row, aims to stop Britain entering into certain types of trade deal. The so-called backstop proposal was published after last-minute wrangling over the wording with Brexit Secretary David Davis, who was reported to have been considering resigning unless it included a time limit. (more...)
Donald Trump tired of 'school mistress' Theresa May
- June 08, 2018
The comments by the two leaders at a Parliament Hill news conference before they each departed to Charlevoix for the summit laid bare the frustrations and even anger at Trump's policy decisions. "The War of 1812 is trending proving once again that 2018 is insane", another said. "There are disagreements", Kudlow said. European leaders criticize the USA decision to impose protectionist tariffs on steel and aluminum and to exit the Iran nuclear deal and the Paris climate agreement. (more...)
- June 08, 2018
The comments by the two leaders at a Parliament Hill news conference before they each departed to Charlevoix for the summit laid bare the frustrations and even anger at Trump's policy decisions. "The War of 1812 is trending proving once again that 2018 is insane", another said. "There are disagreements", Kudlow said. European leaders criticize the USA decision to impose protectionist tariffs on steel and aluminum and to exit the Iran nuclear deal and the Paris climate agreement. (more...)
Italy's new government wins first confidence vote in Senate
- June 08, 2018
A total of 25 senators abstained from voting. "If "populism" is the attitude of leaders to listen to the people. and if "anti-system" means introducing a new system that removes the old privileges of power, then this government deserves both these descriptions", said the premier , who was sworn into his first political office Friday. (more...)
- June 08, 2018
A total of 25 senators abstained from voting. "If "populism" is the attitude of leaders to listen to the people. and if "anti-system" means introducing a new system that removes the old privileges of power, then this government deserves both these descriptions", said the premier , who was sworn into his first political office Friday. (more...)
Tesla Model X Accelerated Toward Barrier Before Fatal Crash
- June 08, 2018
Tesla, however, previously said it has no record of Huang complaining about Autopilot . Seven seconds before impact, the Tesla began "a left steering movement", meaning it veered to the left. The Tesla was following a lead vehicle at about 105 km/h roughly 8 seconds prior to the crash. Notably, the car's Autopilot feature was engaged at the time of the crash. (more...)
- June 08, 2018
Tesla, however, previously said it has no record of Huang complaining about Autopilot . Seven seconds before impact, the Tesla began "a left steering movement", meaning it veered to the left. The Tesla was following a lead vehicle at about 105 km/h roughly 8 seconds prior to the crash. Notably, the car's Autopilot feature was engaged at the time of the crash. (more...)
Trustees report warns Medicare finances worsening
- June 07, 2018
Politicians would pay them from general revenue and federal borrowing even after the trust funds, which are essentially bookkeeping devices, went to zero. "The programs remain secure ", he said. Cubanski also said that Americans with higher incomes and more lucrative Social Security benefits will benefit from federal tax cuts that will lower paycheck deductions. (more...)
- June 07, 2018
Politicians would pay them from general revenue and federal borrowing even after the trust funds, which are essentially bookkeeping devices, went to zero. "The programs remain secure ", he said. Cubanski also said that Americans with higher incomes and more lucrative Social Security benefits will benefit from federal tax cuts that will lower paycheck deductions. (more...)
Mexico’s revenge over Trump tariffs disrupting oil industry, USA energy CEO says
- June 07, 2018
Canadian broadcaster CBC also confirmed that the conversation took place. The British burned down the White House in the War of 1812 , when Canada was a British colony. Asked about the state of US-Canada relations, National Economic Council Director Larry Kudlow acknowledged some short-term tensions, but said he believes relations between the two countries remain "very good". (more...)
- June 07, 2018
Canadian broadcaster CBC also confirmed that the conversation took place. The British burned down the White House in the War of 1812 , when Canada was a British colony. Asked about the state of US-Canada relations, National Economic Council Director Larry Kudlow acknowledged some short-term tensions, but said he believes relations between the two countries remain "very good". (more...)
Ethiopia to end boundary row with Eritrea, open for foreign investment
- June 07, 2018
Since the election of Abiy Ahmed , the first Oromo prime minister in the country's history, the authorities have pledged to push through a raft of reforms. This will end a dispute with Eritrea that sparked Africa's deadliest border war in 1998. "An important feature of Ethiopia's state of emergency is the intersection between emergency powers and ethnic identity, in which emergency powers are used by the ruling elites to maintain their social and ethnic privilege", he said. (more...)
- June 07, 2018
Since the election of Abiy Ahmed , the first Oromo prime minister in the country's history, the authorities have pledged to push through a raft of reforms. This will end a dispute with Eritrea that sparked Africa's deadliest border war in 1998. "An important feature of Ethiopia's state of emergency is the intersection between emergency powers and ethnic identity, in which emergency powers are used by the ruling elites to maintain their social and ethnic privilege", he said. (more...)
Heinz Salad Cream may become 'Sandwich Cream'
- June 07, 2018
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". I wouldn't dream of putting salad cream in a sandwich but I love it on a side salad especially with an omelette'. Salad Cream was launched by Heinz for the United Kingdom market. (more...)
- June 07, 2018
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". I wouldn't dream of putting salad cream in a sandwich but I love it on a side salad especially with an omelette'. Salad Cream was launched by Heinz for the United Kingdom market. (more...)
Lord & Taylor to close storied flagship on Fifth Avenue
- June 07, 2018
Hudson's Bay does not provide a breakdown of the earnings of individual divisions. The closures will occur through 2019, the company said Tuesday. The company is working on improving marketing and merchandising in Europe, where too much inventory weighed on performance, Chief Executive Officer Helena Foulkes said on the call. (more...)
- June 07, 2018
Hudson's Bay does not provide a breakdown of the earnings of individual divisions. The closures will occur through 2019, the company said Tuesday. The company is working on improving marketing and merchandising in Europe, where too much inventory weighed on performance, Chief Executive Officer Helena Foulkes said on the call. (more...)
ZTE has reached a deal to have United States sanctions lifted
- June 07, 2018
That figure includes $1 billion to be paid upfront and $400 million placed in escrow in the event of any future violations. ZTE has reportedly not yet signed the amended deal, but that seems like it's only a matter of time. But the company admitted that while it had fired the four senior employees, it had made false statements about the others, the officials said . The probe found that ZTE had conspired to evade United States embargoes by buying USA components, incorporating them into ZTE ... (more...)
- June 07, 2018
That figure includes $1 billion to be paid upfront and $400 million placed in escrow in the event of any future violations. ZTE has reportedly not yet signed the amended deal, but that seems like it's only a matter of time. But the company admitted that while it had fired the four senior employees, it had made false statements about the others, the officials said . The probe found that ZTE had conspired to evade United States embargoes by buying USA components, incorporating them into ZTE ... (more...)
Monetary policy: RBI hikes repo rate by 25 basis points to 6.25%
- June 07, 2018
The reverse repo rate has been adjusted to 6 per cent. The increase in repo rate comes as a bad news for those who have borrowed from banks because it is likely to lead to an increase in the interest they pay on loans, be it home loan, vehicle loan or personal loan. (more...)
- June 07, 2018
The reverse repo rate has been adjusted to 6 per cent. The increase in repo rate comes as a bad news for those who have borrowed from banks because it is likely to lead to an increase in the interest they pay on loans, be it home loan, vehicle loan or personal loan. (more...)
Emails of Over 92 Million Users Stolen from Genealogy Company MyHeritage
- June 07, 2018
Information in the file dated back to October 27 2017, so anyone who registered an account before that date could be affected. MyHeritage announced the data breach on Monday, June 4, after a security researcher informed them of the breach. (more...)
- June 07, 2018
Information in the file dated back to October 27 2017, so anyone who registered an account before that date could be affected. MyHeritage announced the data breach on Monday, June 4, after a security researcher informed them of the breach. (more...)
Trump raises 204-year-old grievance as trade war with Canada intensifies
- June 07, 2018
Of course, Trump's history was a little off as the White House was set ablaze on August 24, 1814, and Canada didn't become a country until 1867. The United States is reportedly preparing to unleash another round of tariffs on Canada as retribution for its Can$16.6 billion (US$12.9 billion) in tariffs on USA goods. (more...)
- June 07, 2018
Of course, Trump's history was a little off as the White House was set ablaze on August 24, 1814, and Canada didn't become a country until 1867. The United States is reportedly preparing to unleash another round of tariffs on Canada as retribution for its Can$16.6 billion (US$12.9 billion) in tariffs on USA goods. (more...)
Lawmakers set bill seeking to control Trump on tariffs, says key lawmaker
- June 07, 2018
Their absence would limit the legislative work the Senate can achieve alone. Corker unveiled a bill Wednesday that would require congressional approval before a president could levy tariffs for national security reasons. "NDAA is certainly one of them but it is open to amendment and we'll see what happens as it moves across the floor". Corker isn't alone on his side of the aisle. (more...)
- June 07, 2018
Their absence would limit the legislative work the Senate can achieve alone. Corker unveiled a bill Wednesday that would require congressional approval before a president could levy tariffs for national security reasons. "NDAA is certainly one of them but it is open to amendment and we'll see what happens as it moves across the floor". Corker isn't alone on his side of the aisle. (more...)
Mexico to impose tariffs on $3B in USA products
- June 06, 2018
Mexico also slapped tariffs on USA steel, as well as various farm products, including pork, cheese, apples, whiskey, cranberries, grapes and canned goods. President Donald Trump take part in a joint press conference at the White House in Washington, D.C., on February 13, 2017. Talks to revise and modernize the deal have been underway since August 2017 but snagged on USA demands to increase U.S. (more...)
- June 06, 2018
Mexico also slapped tariffs on USA steel, as well as various farm products, including pork, cheese, apples, whiskey, cranberries, grapes and canned goods. President Donald Trump take part in a joint press conference at the White House in Washington, D.C., on February 13, 2017. Talks to revise and modernize the deal have been underway since August 2017 but snagged on USA demands to increase U.S. (more...)
Tesla shareholders reject bid to strip Musk of chairman role
- June 06, 2018
In an apparent vote of confidence in Musk, shareholders rejected by a large majority a proposal on the ballot to split the chairman and chief executive roles, both of which are held by the co-founder. "Although the current leadership structure, in which the positions of Chairman and CEO are held by one person, could provide an effective leadership for Tesla at the early stage, now in this much more highly competitive and rapidly changing technology industry, it is more and more hard to ... (more...)
- June 06, 2018
In an apparent vote of confidence in Musk, shareholders rejected by a large majority a proposal on the ballot to split the chairman and chief executive roles, both of which are held by the co-founder. "Although the current leadership structure, in which the positions of Chairman and CEO are held by one person, could provide an effective leadership for Tesla at the early stage, now in this much more highly competitive and rapidly changing technology industry, it is more and more hard to ... (more...)
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