Markets


China trade war to boost Indian economy: United Nations study China trade war to boost Indian economy: United Nations study
- February 06, 2019

In his annual State of the Union address , Trump also called on China to make the kind of far-reaching "structural" changes to industrial policy that analysts say Beijing is likely to resist. Smaller and poorer countries would struggle to cope with such external shocks, she said. If the tariff increase does, in fact, take place; it's not entirely clear how China will respond, but so far it's matched the U.S.'s tariffs tit for tat. (more...)
State of the Union Excerpts: Donald Trump Reminds Congress How He Won State of the Union Excerpts: Donald Trump Reminds Congress How He Won
- February 06, 2019

Still, a union hall in Atlanta doesn't compare to the grandeur - and bright lights - of the House chamber, where Trump delivered his speech. President Trump's second State of the Union address was postponed one week due to the partial government shutdown. (more...)
Maduro Sends 100 Tons of Aid to Cuba Despite Venezuela Crisis Maduro Sends 100 Tons of Aid to Cuba Despite Venezuela Crisis
- February 06, 2019

Because the National Assembly does not recognize the legitimacy of Maduro's reelection , the body asserts that, according to the Venezuelan constitution, it is empowered to appoint the Assembly president as the country's interim acting president. (more...)
GM poised to lay off more than 4000 workers on Monday GM poised to lay off more than 4000 workers on Monday
- February 05, 2019

It follows the automaker's announcement last November that it would idle three vehicle plants (plus two component plants) in North America due to slowing sales of sedan models built at the plants. GM is also cutting its executive ranks by 25 percent. Employee ratings for GM's Business Outlook - what current- and former- employeesthink about the company's future over the next six months - and Recommendation ranking are in a freefall as layoffs take place. (more...)
Ryanair sees fares falling further; O'Leary to stay on Ryanair sees fares falling further; O'Leary to stay on
- February 05, 2019

The loss, which the budget airline attributed to cheaper-then-expected air fares, compared to a profit of £92.4 million in the same period a year ago. Pilot unions in some countries have suspended talks over pay conditions in protest at the threat of base closures and while O'Leary said the airline had made "very good progress" in those talks, he could not rule out further base cuts if fares keep falling. (more...)
United Kingdom trade secretary says European Union 'irresponsible' to refuse to reopen #Brexit deal United Kingdom trade secretary says European Union 'irresponsible' to refuse to reopen #Brexit deal
- February 05, 2019

UK MPs last week backed a call for May to return to Brussels to secure a new Brexit deal that puts "alternative arrangements" in place of the controversial backstop - a kind of insurance policy created to avoid a hard border between Northern Ireland and the Irish Republic. (more...)
Staff at Dundee’s HMV store to learn their fate today Staff at Dundee’s HMV store to learn their fate today
- February 05, 2019

However administrator KPMG says 27 stores will close immediately, resulting in a loss of 455 jobs. "We are pleased to confirm this sale which, after a complex process, secures the continued trading of the majority of the business", said Will Wright. (more...)
Tesla acquires battery technology group Maxwell for $218 mn Tesla acquires battery technology group Maxwell for $218 mn
- February 05, 2019

The announcement comes amid a cost-cutting initiative at the automaker - which announced just last month it would slash an additional 7 percent of its workforce as it works to lower the price of its flagship Model 3 sedan to reach a broader market. (more...)
Google parent beats Q4 estimates, stock still drops Google parent beats Q4 estimates, stock still drops
- February 05, 2019

Alphabet shares were down 3.3 percent to $1,103.50 in after-market trades that followed release of the earnings figures from the final three months of previous year. Capital expenditure also grew 64 percent to $7 billion as Google expands its cloud operations and purchases new real estate for data centers. Alphabet's report follows a big earnings week from industry heavyweights such as Apple Inc. (more...)
$190M In Crypto Lost As Exchange Founder Dies With Only Password $190M In Crypto Lost As Exchange Founder Dies With Only Password
- February 05, 2019

Investors in QuadrigaCX , Canada's largest cryptocurrency exchange , have been unable to access their funds since its founder, Gerald Cotten, died past year. "Despite repeated and diligent searches, I have not been able to find them written down anywhere", she said. "I'm kind of preparing for the worst". (more...)
Elon Musk Unveils SpaceX's 1st Rocket Engine Test for Starship Rocket Elon Musk Unveils SpaceX's 1st Rocket Engine Test for Starship Rocket
- February 05, 2019

On Sunday, Elon Musk and SpaceX engineers conducted an experimental firing of the Raptor engine , which could be used for future flights to Mars. SpaceX has a big year ahead of it as it continues to fulfill rocket launch contracts for clients eager to send stuff into space, but it's the company's Starship project that has gotten the most attention from science fans. (more...)
GM set to begin 4,000 white collar layoffs on Monday GM set to begin 4,000 white collar layoffs on Monday
- February 04, 2019

The company hopes the workforce cuts will save it $6 billion a year by the end of 2020. GM is moving to more high-tech vehicles, Kudla says. "GM's CEO Mary Barra is clearly not timid about making bold decisions to implement radical change, whether it be forging new technologies or the gut-wrenching shuttering of factories". (more...)
United Kingdom trade minister says European Union ‘irresponsible’ to refuse to reopen Brexit deal United Kingdom trade minister says European Union ‘irresponsible’ to refuse to reopen Brexit deal
- February 04, 2019

On Monday, the House of Commons Brexit Committee is scheduled to visit Brussels to meet Martin Selmayr, the EU negotiator and Commission secretary-general, Sir Tim Barrow, the ambassador to the EU, and Guy Verhofstadt, the European Parliament Brexit coordinator. (more...)
US Urges Allies To Utilise Western Tech Instead Of Huawei US Urges Allies To Utilise Western Tech Instead Of Huawei
- February 04, 2019

Several countries and worldwide alliances have rallied behind the detainees, calling for China to release them. December 11: Meng is released on bail of 10 million Canadian dollars (USD7.5 million), and Trump tells Reuters that he might intervene in her case "if I think it's good for what will be certainly the largest trade deal ever made". (more...)
Trump pushes Foxconn to clarify United States plans Trump pushes Foxconn to clarify United States plans
- February 03, 2019

Woo reportedly told the wire agency that Foxconn was changing plans and would create a technology hub that would largely consist of research facilities, adding: "We're not building a factory". However, the company released a statement on January 30 confirming various media reports that its plan was being adjusted to focus mainly on research and development. (more...)
BP Commits To More Transparency Over Climate Change BP Commits To More Transparency Over Climate Change
- February 03, 2019

The moves are part of a wider, growing wave of shareholder power being exerted on oil and gas companies to be clearer about their contribution to rising carbon emissions, and what they are doing about it. Shell, for example, said past year that it would start linking executive pay to short-term carbon emissions targets in 2020 after coming under pressure from shareholders including the Church of England. (more...)
United States employers added 304,000 jobs in January, soaring past expectations United States employers added 304,000 jobs in January, soaring past expectations
- February 03, 2019

Private economists had expected an increase of about 170,000 jobs and the unemployment rate to be unchangedat 3.9 percent. The bureau attributes the uptick in unemployment, which rose by 0.1 percentage point, to the partial government shutdown since furloughed federal employees were identified as temporarily laid off. (more...)
AWS: Providing more solutions and cloud-based innovations AWS: Providing more solutions and cloud-based innovations
- February 03, 2019

Profits hit $ 3 billion , compared to $1.9 billion a year ago. In terms of the company's total sales, Amazon sold $232.9 billion United States dollars (roughly $305.76 billion CAD) in 2018, representing an increase of 31 percent. Amazon shares have risen 14 percent since the beginning of the year, while the Standard & Poor's 500 stock index has increased almost 8 percent and the Nasdaq composite has risen 9.7 percent. (more...)
Unilever's new chief warns of headwinds that will hit growth Unilever's new chief warns of headwinds that will hit growth
- February 03, 2019

After his first set of results as chief executive , Jope warned market conditions would remain "challenging" in 2019 and that sales growth would be in the lower of half of the company's 3-5 per cent range. The company reported a net profit of 9.8 billion euros, including a 4.3 billion euro gain on the sale of the spreads business. Speaking to analysts, Jope said that accelerating quality growth would be his top priority. (more...)
Toll in Brazil dam disaster rises to 115 dead, 248 missing Toll in Brazil dam disaster rises to 115 dead, 248 missing
- February 02, 2019

The death toll from the collapse of a mine tailings dam in Brazil's Minas Gerais has increased to 110, authorities said. Vale CEO Fabio Schvartsman met with Brazil's General Prosecutor Raquel Dodge in the capital Brasilia to discuss compensating the hundreds of families affected by the disaster in the rural town of Brumadinho. (more...)

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