Markets


Official says basis of Canada-US deal reached
- October 02, 2018

A day after claiming that India wants a trade deal with the US, President Donald Trump on Monday said that he has spoken to the Indian government over tariffs and was assured that they would be reduced substantially. "We celebrate a trilateral deal". The terms reached between the USA and Mexico on higher wage thresholds will also be positive for Canadian producers, said Unifor president Jerry Dias, who welcomed the deal. (more...)
General Electric Company (GE) Stock General Electric Company (GE) Stock
- October 02, 2018

While running business development at GE Corporate, he spearheaded the acquisition of Alstom's power business, which doubled GE's installed power base and strengthened its renewables portfolio. General Electric said in June it will spin off its healthcare business and divest its stake in oil-services firm Baker Hughes, effectively breaking up the 126-year-old conglomerate - once the most valuable USA corporation and a global symbol of American business power . (more...)
General Electric replaces CEO with outsider, shares soar General Electric replaces CEO with outsider, shares soar
- October 01, 2018

The shares climbed 15 per cent to US$12.95 in NY premarket trading Monday. However, as Flannery has restructured the multinational conglomerate, its value has dipped below $100 billion and shares are down more than 35 percent this year, following a 45 percent decline in 2017. (more...)
California governor signs tough net neutrality bill, and Justice Dept. sues California governor signs tough net neutrality bill, and Justice Dept. sues
- October 01, 2018

California's net neutrality law is set to take effect on January 1, but the Justice Department late Sunday in a court filing sought a preliminary injunction to block it from taking effect, warning that internet companies "cannot realistically comply with one set of standards in this area for California and another for the rest of the nation - especially when internet communications frequently cross multiple jurisdictions". (more...)
Tweet storm: Musk quits as chairman over false claims Tweet storm: Musk quits as chairman over false claims
- October 01, 2018

Nelson, who called the $20 million fine as "pocket change", noted that as part of the settlement, the company will have a "healthier level" of corporate governance as it separates the chairman and CEO roles, and requires the appointment of two new outside members to the board. (more...)
Facebook users warned after hack Facebook users warned after hack
- October 01, 2018

The vulnerability has existed since previous year, and is the largest till date. This appears to be another event when Facebook has failed to protect its users. While Facebook has informed law enforcement authorities in the U.S. and communicated the breach to the Irish Data Protection Authority too, ET could not verify if any Indian authority has been notified. (more...)
Tesla Shares Soar After Elon Musk's SEC Settlement Tesla Shares Soar After Elon Musk's SEC Settlement
- October 01, 2018

Elon Musk has claimed that Tesla is "very close" to profitability after he made a deal with U.S. authorities to stay on as chief executive of the auto company, according to reports. Tesla will also need to bring a couple more independent directors on board. The tweets had no basis in fact, and the ensuring market chaos hurt investors, the SEC said. (more...)
Ryanair strike: Tens of thousands to be hit by today's staff walkout Ryanair strike: Tens of thousands to be hit by today's staff walkout
- October 01, 2018

The Irish carrier has confirmed that it expects up to 190 flights in total to be cancelled as a outcome of industrial action participated in by pilots and flight attendants from Germany, Spain, Portugal, Belgium , Italy and the Netherlands. (more...)
NAFTA talks run up against deadline; USA tariffs remain tough issue NAFTA talks run up against deadline; USA tariffs remain tough issue
- October 01, 2018

Chevrolet Equinox SUVs are parked awaiting shipment by CN Rail next to the General Motors Co (GM) CAMI assembly plant in Ingersoll, Ontario, Canada October 13, 2017. And only vehicles that failed to meet the rules of origin for auto parts agreed to by the US and Mexico would even potentially be subject to the proposed auto tariffs. (more...)
Elon Musk Is Being Sued by the SEC for Fraud Elon Musk Is Being Sued by the SEC for Fraud
- October 01, 2018

Shares of Tesla plunged more than 12 percent in late trading. The bid to bar Musk as an officer of any public company marks a rare move for the SEC against the CEO of a well-known firm. In a press conference tonight prosecutors alleged Musk had "neither secured a commitment of funding from any source, nor confirmed investor support" for taking the company private at any point. (more...)
Boeing wins $9.2 billion contract for new Air Force training jet Boeing wins $9.2 billion contract for new Air Force training jet
- October 01, 2018

According to CNN , Boeing secured a contract to produce the new T-X aircrafts to replace its current T-38 jets for pilot training. With hopes to win the lucrative project, KAI had formed a consortium with the US' Lockheed Martin to replace 350 units of the aging T-38 jets. (more...)
Volkswagen partners with Microsoft to build new Volkswagen partners with Microsoft to build new "automotive cloud"
- September 30, 2018

Herbert Diess, CEO of Volkswagen AG. Microsoft has already collaborated with various auto manufacturers for connected vehicle technologies including Renault-Nissan and Tata Motors , and the company has already done all the platform work to help automative companies build cars that can connect to digital services. (more...)
Facebook announces security breach affecting 50 million accounts Facebook announces security breach affecting 50 million accounts
- September 30, 2018

A vulnerability in " View As " allowed hackers to steal Facebook access tokens , which were used to access unsuspecting subscribers' Facebook accounts. The access tokens allowed the attackers to take over user accounts. If you're concerned about your own account or data, you can visit Facebook's Security and Login section. (more...)
Trump says he rejected Trudeau, again threatens Canadian-built vehicle tariffs Trump says he rejected Trudeau, again threatens Canadian-built vehicle tariffs
- September 30, 2018

While the full text of its new trade agreement with the USA has to be released, Mexico never won protection from future tariffs, said Heyman. After meeting with U.S. The Dairy Farmers of Canada lobby group did not respond to a request for comment. Trump's officials have argued that they need to publish the text by Sunday in order to let the outgoing Mexican president, Enrique Pena Nieto, sign the deal by his last full day in office, November 30, and avoid the possibility that Lopez Obrador ... (more...)
It’s National Coffee Day: That means free and discounted java! It’s National Coffee Day: That means free and discounted java!
- September 29, 2018

In honor of National Coffee Day on September 29, chains like Krispy Kreme and Dunkin' Donuts are serving up some great deals. Dunkin' Donuts: The chain is celebrating a "twice as nice" promotion this year with a buy one, get one free deal for all hot coffee purchases. (more...)
China cuts some tariffs but does not address US complaints China cuts some tariffs but does not address US complaints
- September 29, 2018

But they have rejected pressure to change industry plans the communist leadership sees as a path to prosperity and global influence. USA tariffs on $200 billion worth of Chinese goods and retaliatory taxes by Beijing on $60 billion worth of US products including liquefied natural gas (LNG) kicked in on Monday, unnerving global financial markets. (more...)
McDonald’s removing artificial additives from its burgers McDonald’s removing artificial additives from its burgers
- September 29, 2018

McDonald's also recently said that it is the first fast-food company in Canada to serve Canadian beef from certified sustainable farms and ranches, beginning with its Angus line-up. McDonald's has been slowly removing preservatives for years in an effort to keep up with the changing tides. The Egg McMuffin; Bacon, Egg & Cheese Biscuit; and Bacon, Egg & Cheese McGriddles, among other sandwiches, still contain artifical ingredients. (more...)
Asian shares weather Fed rate hike, U.S. bond yields fall Asian shares weather Fed rate hike, U.S. bond yields fall
- September 29, 2018

A tight employment market , in this scenario, will accelerate wages and inflation and prod the Fed to keep tightening credit to ensure that the economy doesn't overheat. The Fed would normally respond to weaker growth by cutting interest rates. "In view of realized and expected labor market conditions and inflation, the Committee made a decision to raise the target range for the federal funds rate to 2 to 2 ¼ percent", the Federal Open Market Committee said in a statement . (more...)
Jeff Bezos space project lands big rocket partnership Jeff Bezos space project lands big rocket partnership
- September 29, 2018

An announcement is expected Thursday from United Launch Alliance , a joint venture between Boeing and Lockheed Martin that launches US military and spy satellites into orbit. "It's performing quite well", Blue Origin Chief Executive Bob Smith said of BE-4 on a September 11 panel at the World Satellite Business Week in Paris. (more...)
Fuel price hike: Petrol prices continue to rise; Rs 90.35 in Mumbai Fuel price hike: Petrol prices continue to rise; Rs 90.35 in Mumbai
- September 29, 2018

With the falling rand and the rising price of oil contributing nearly equally to the damage, the price of petrol is expected to shoot up by R1.01 per litre, with diesel spiking by a whopping R1.24. "The wholesale price of petrol has been falling since the start of September, so it's right that retailers pass on the saving to motorists at the pumps, even if it is a little late". (more...)