Markets


Saudi government spied on Bezos Saudi government spied on Bezos
- April 02, 2019

In the final years of his life, Khashoggi lived in the USA and wrote a column for The Washington Post . On his The Daily Beast website, Becker wrote: "Our investigators and several experts concluded with high confidence that the Saudis had access to Bezos' phone , and gained private information". (more...)
Most Profitable Company in the World Doesn't Do Tech Most Profitable Company in the World Doesn't Do Tech
- April 02, 2019

Despite the huge profit, the state-owned oil giant was rated by credit agencies at par with Saudi Arabia, meaning the kingdom's sluggish economy will weigh on Aramco's cost of borrowing as it prepares its bond market debut. Aramco obtained credit ratings of A1 by Moody's and A+ by Fitch ahead of the planned bond. Exxon reported cash flow previous year of $36 billion. (more...)
'Impossible' meatless patty gets Burger King Whopper test 'Impossible' meatless patty gets Burger King Whopper test
- April 02, 2019

The silicon based start-up famously created the plant based burger patty, and recently announced an Impossible steak that it's in the works . In the spirit of the season, the company even pranked a bunch of beef devotees with their new burger, which you can watch above. (more...)
Lyft value soars day after debuting on Nasdaq Lyft value soars day after debuting on Nasdaq
- April 02, 2019

Still, Lyft's falling share price isn't bad news for the company or the many startups lined up to go public soon. Fast forward to August after its March debut the company had lost 50 percent of its value. After hitting a lifetime low about three months after its IPO, Facebook shares have gained more than 800 percent to become the "F" in the vaunted FANG group of tech high flyers. (more...)
SpaceX, Tesla CEO Elon Musk Drops Bizarre Rap Remix 'RIP Harambe' SpaceX, Tesla CEO Elon Musk Drops Bizarre Rap Remix 'RIP Harambe'
- April 02, 2019

It's unclear whether or not the CEO is actually behind the Emo G Records account, or it's something he stumbled upon and is now trying to attach his name to make a joke. Elon Musk is known to be a visionary in the space of solar power, electric cars, reusable rocket ships and a lot more. That being said, at time of writing, the song has been streamed 480,000 times. (more...)
Erdogan's ruling AKP suffers setback in Turkey's local election Erdogan's ruling AKP suffers setback in Turkey's local election
- April 01, 2019

In Istanbul , Turkey's largest city, the race for mayor was deadlocked with the AKP candidate claiming victory with 48.70 percent of votes, but his opponent on 48.65 percent also saying he had won, after nearly all ballot boxes were counted there. (more...)
Facebook now explains better why you’re seeing some posts and ads Facebook now explains better why you’re seeing some posts and ads
- April 01, 2019

Facebook is releasing a new feature that will let users see more information about each post that appears in their feed, explaining, in some detail, exactly why the Facebook algorithm is showing them said post. It will hopefully give you more control over how you then want to personalise your News Feed. How often you like a person's posts and how often you engage with different mediums like video, photo or text are some examples of information that contributes to a post's prominence. (more...)
Brexit chaos returns to Parliament for more indicative votes Brexit chaos returns to Parliament for more indicative votes
- April 01, 2019

British members of parliament will hold a second series of " indicative votes " on various Brexit options later on Monday, as the country continues its chaotic slalom course towards the European Union exit door. From India's perspective as well, the Brexit issue needs to be resolved quickly as many Indian businesses are likely to be affected with the withdrawal of the United Kingdom from the European Union. (more...)
AA concerned over impact of coming petrol price hike AA concerned over impact of coming petrol price hike
- April 01, 2019

Price of diesel will go up by 10 dirhams. The prices of light diesel and kerosene oil raised by Rs 3 per litre each. The Automobile Association (AA) has said it's concerned about the looming massive petrol price increase adding it will not only have an impact on motorists but consumers in general. (more...)
Major airlines experiencing technical issues, delays Major airlines experiencing technical issues, delays
- April 01, 2019

American Airlines said: "AeroData is now experiencing a technical issue that is impacting multiple carriers, including a few of our regional carriers". Flights at United States airports across the country are delayed because of an IT failure affecting at least five airlines, the FAA has said. "I completely apologize, we are now experiencing a system-wide outage", it said. (more...)
Tech giant Huawei defends security record as annual sales top $100 bn Tech giant Huawei defends security record as annual sales top $100 bn
- March 31, 2019

But growth in Huawei's carrier business, the segment that provides telecommunications products including 5G equipment to carriers around the world, dropped by 1.3 per cent. Meng, Huawei founder Ren Zhengfei's (任正非) eldest daughter, faces potential extradition on alleged bank fraud linked to US sanctions against Iran. (more...)
US, Chinese negotiators wrap up ‘constructive’ trade talks US, Chinese negotiators wrap up ‘constructive’ trade talks
- March 31, 2019

USA and Chinese negotiators are working to find a binding agreement to address President Donald Trump's complaints about years of unfair treatment of United States companies by China, which would allow a rollback of the tariffs hitting businesses in both countries. (more...)
FCA cutting 1,500 jobs at its plant in Windsor, Ontario FCA cutting 1,500 jobs at its plant in Windsor, Ontario
- March 31, 2019

Brampton's plant will remain as a two-shift operation, but will be closed for a week. In an email, FCA Canada head of communications LouAnn Gosselin said "In order to better align production with global demand at its Windsor Assembly Plant, FCA notified Unifor today that it intends to return the plant to a traditional two-shift operation, beginning September 30, 2019". (more...)
Turkish lira weakens again after rocky pre-election week Turkish lira weakens again after rocky pre-election week
- March 31, 2019

Voters in Turkey began casting ballots in Sunday's municipal elections, which are seen as a barometer of President Recep Tayyip Erdogan's popularity amid a sharp economic downturn in the nation that straddles Europe and Asia. He said gross reserves had increased across all items by $4.3 billion and by March 27 reached $96.7 billion. "The Turkish policy response since the lira sell off last week has been extreme and I think ultimately will prove counterproductive", said Timothy Ash, senior ... (more...)
AstraZeneca to pay up to $6.9B for cancer drug AstraZeneca to pay up to $6.9B for cancer drug
- March 31, 2019

The deal fuels a race among big drug companies to develop effective - and lucrative - new cancer treatments. In 2015, for example, Daiichi Sankyo agreed to pay AstraZeneca up to $825 million to co-commercialize in the United States AstraZeneca's Movantik™ (naloxegol), an opioid-induced constipation treatment for adults with chronic noncancer pain. (more...)
Chick-Fil-A Banned From Yet Another Airport Chick-Fil-A Banned From Yet Another Airport
- March 31, 2019

Paxton, a Christian conservative who has long billed himself as a crusader for religious liberty, has also asked U.S. Department of Transportation Secretary Elaine Chao to open an investigation into the city's actions. On Thursday, Abbott chimed in, tweeting : "The ban has the stench of religious discrimination against Chick-fil-A". The councilmembers voted instead for city staff to find another company for the contract. (more...)
Monsanto ordered to pay $80 mn in Roundup cancer trial Monsanto ordered to pay $80 mn in Roundup cancer trial
- March 31, 2019

Jennifer Moore, one of Hardeman's lawyers, told the New York Times that Monsanto has been ordered to pay Hardeman $ 75 million in punitive damages, $5 million for his suffering, and $200,000 to cover his medical costs. Mr Hardeman's attorneys, who cheered and hugged their client as the verdict was announced, described the decision as historic and said it sends a clear message to Monsanto that it needs to change its business practices. (more...)
Google finally pulls 'gay conversion' app from its online store Google finally pulls 'gay conversion' app from its online store
- March 31, 2019

IHG® (InterContinental Hotels Group), one of the world's leading hotel companies, has again been named as a Best Place to Work for LGBTQ Equality, earning a flawless 100 percent score on the Human Rights Campaign Foundation's Corporate Equality Index (CEI ) for the fifth year running. (more...)
Lyft's stock market debut highlights changing transportation Lyft's stock market debut highlights changing transportation
- March 30, 2019

Co-founders Logan Green and John Zimmer talked about their early vision of the company and their commitment to providing alternatives to individual auto ownership. Lyft has been gaining ground on Uber in the past two years, which enabled it to double its revenue last year to $2. 2 billion - the kind of growth that tends to wow investors. (more...)
Daimler and Geely team up to build Smart cars in China Daimler and Geely team up to build Smart cars in China
- March 30, 2019

The statement furthermore revealed the Smart product portfolio would expand into the B-segment. "Separately, Mercedes-Benz will produce a compact electric vehicle at the Hambach plant, sustaining employment with further investment in the facility". (more...)