Markets


Revenue slowdown at Alphabet helps drag United States stocks lower Revenue slowdown at Alphabet helps drag United States stocks lower
- May 02, 2019

Alphabet posted a net income of $6.65 billion in the first quarter, which was lower as a result of an European Union fine of 1.5 billion euros ($1.7 billion). This is a figure that is close to analyst's prediction for their fourth quarter (12.31 cents a share). Amazon and Microsoft Corp . are well ahead of Google in the cloud market. (more...)
Tesla Sued for Deadly Crash on Autopilot Tesla Sued for Deadly Crash on Autopilot
- May 02, 2019

It says that Tesla should have recalled the cars or provided a warning in light of this risk. Huang, who was 38, died from injuries sustained after his 2017 Tesla Model X slammed into a concrete highway barrier on USA 101 in Mountain View, Calif., on March 23, 2018. (more...)
McDonald’s US same-store sales rise on popular bacon-loaded menu McDonald’s US same-store sales rise on popular bacon-loaded menu
- May 02, 2019

The latest quarter included 6 cents per share of additional income tax costs related to the 2017 tax law, while the weakening of the euro and other currencies hurt earnings per share by 9 cents. "Bacon with an order of Hotcakes?" the company said at the time. McDonald's priorities remain redesigning its restaurants with new technology to help make ordering faster and easier for customers, CEO Steve Easterbrook said in a statement. (more...)
Beto O'Rourke's 5 Trillion Dollar Climate Initiative Beto O'Rourke's 5 Trillion Dollar Climate Initiative
- May 02, 2019

O'Rourke on Monday released an ambitious climate-change plan that requires $5 trillion in new government spending to transition the American economy to net-zero carbon emissions by 2050. The plan is a little bit Green New Deal and a little bit neoliberal, which is pretty much O'Rourke in a nutshell . "That's what's needed to decarbonize the economy". (more...)
Buffett backs Occidental's bid for Anadarko with US$10B pledge Buffett backs Occidental's bid for Anadarko with US$10B pledge
- May 02, 2019

Chevron's offer would be worth about $50 billion by the same metric. In the private offering, the preferred stock will accrue dividends at 8% annually. Berkshire Hathaway HomeServices Gulf Properties will be led by Chairman Ihsan Husein Al Marzouqi and Chief Executive Officer Phil Sheridan, a company statement said. (more...)
China's manufacturing PMI remains stable in April China's manufacturing PMI remains stable in April
- May 02, 2019

Economic growth in the first quarter stabilised at 6.4 percent. A different PMI from Markit Economics showed a similar trend, with the factory gauge dropping to 50.2 from 50.9. "Judging from all the sectors, the business activity indexes for air transportation, express mail service, hotels, telecommunication, leasing, commercial services, and neighborhood services are higher than last month, indicating these sectors are expanding and their business climates are improving", said Shi ... (more...)
India apprehensive Iran sanctions could boost oil, inflation India apprehensive Iran sanctions could boost oil, inflation
- May 02, 2019

Also supporting prices was government data showing that US crude production fell in February for the second month in a row, sliding 187,000 barrels per day (bpd) to 11.7 million bpd. The official rate is 42,000 rials to the US dollar, but its market rate stood at around 144,000 against the USA dollar on Sunday. On the demand front, weaker Chinese manufacturing activity signals the fragility of the economic stabilization seen in the first quarter. (more...)
Marriott to Launch Home Rental Business in U.S. to Compete With Airbnb Marriott to Launch Home Rental Business in U.S. to Compete With Airbnb
- May 02, 2019

Its expansion into the home-rental space a new category of short-term rentals that offer hotel-like services including housekeeping and a concierge. By next week, guests will be able to book, earn and redeem their Marriott Bonvoy points on any of Marriott International's home rentals in the U.S., Latin America, Europe and the Caribbean. (more...)
Toyota will produce Lexus NX in Ontario to supply North America Toyota will produce Lexus NX in Ontario to supply North America
- May 02, 2019

Currently, the plant's main product is the RAV4, which it cranked out 247,633 versions of in 2017. Trudeau will be speaking to media shortly after 1:30 p.m. "It's a vote of confidence in the value proposition in making cars in this province". The federal government and Ontario government each committed $110 million to support the investment. (more...)
Ford, Amazon Team Up To Offer Deliveries To Vehicles Ford, Amazon Team Up To Offer Deliveries To Vehicles
- May 01, 2019

This week, Ford and Lincoln announced they would be partnering with Amazon to integrate the service into some of their vehicles. Not every vehicle is eligible for this service, though. Amazon Key works through the FordPass and Lincoln Way apps to locate and grant temporary access to the vehicles. Once all that's squared away, the owner needs to download their connected-car app, whether it's FordPass or Lincoln Way. (more...)
Former Google boss Eric Schmidt leaves Alphabet board after 18 years Former Google boss Eric Schmidt leaves Alphabet board after 18 years
- May 01, 2019

Eric Schmidt has been a member of the Board since March 2001, and in addition to that, he also served as Google's CEO between July 2001 and April 2011. Alphabet said it had appointed to the board Robin L Washington, an executive vice president and chief financial officer of Gilead Sciences, a biopharmaceuticals company. (more...)
Land Rover's Defender heads overseas Land Rover's Defender heads overseas
- May 01, 2019

We don't need Land Rover to tell us how extensive the testing programme for the next-gen Defender has been; numerous sightings of development cars on and off roads the world over have confirmed that. Every vehicle launch is hard. Despite the similarities in profile, the new Defender "won't be just a facsimile that addresses the legislative issues of the old one", Land Rover's design director, Gerry McGovern, told Automotive News Europe in 2017, referring to the emissions and safety ... (more...)
Vodafone admits finding hidden security flaws in Huawei equipment Vodafone admits finding hidden security flaws in Huawei equipment
- May 01, 2019

Vodafone said it asked Huawei to deal with the backdoors as soon as it spotted them and was told that they had been, but it took further prompting to get the lot of them. "We have no evidence of any unauthorised access". Huawei has previously denied that it creates backdoors for its equipment and often claims that suspicions of Huawei are just a " loser's attitude " because American tech companies can't compete fairly. (more...)
Pompeo confident on China talks despite clash over Iranian oil Pompeo confident on China talks despite clash over Iranian oil
- May 01, 2019

The Organisation of the Petroleum Exporting Countries (OPEC), Russia and other producers, an alliance known as OPEC+, agreed to cut output by 1.2 million barrels per day (bpd) from January for six months in an effort to boost oil prices . Based on what I see now. State oil company Sonangol was said to have sold a cargo of one of its heaviest grades, Dalia, over the last week for $2 a barrel above dated Brent, a $7 increase from two years ago. (more...)
Trump Threatens Cuba With Embargo Over Venezuela Trump Threatens Cuba With Embargo Over Venezuela
- May 01, 2019

National Security Adviser John Bolton alleged earlier that Cuban troops were keeping Maduro in power in Caracas. Venezuela's Government said it was putting down the small coup attempt by military "traitors" working with right-wing opponents. (more...)
Chase Bank’s attempt at a ‘Monday Motivation’ tweet fails spectacularly Chase Bank’s attempt at a ‘Monday Motivation’ tweet fails spectacularly
- May 01, 2019

Twitter followers of Chase bank had plenty of #MondayMotivation, but it wasn't to save money. In the tweet ending with the hashtag "Monday Motivation", customers of the bank theoretically think to themselves, "why is my balance so low?" In the tweet, the bank account chastises people for buying coffee, going out for food, and using ride-hailing apps. (more...)
Trump slams Fed for 'incessantly' raising interest rates Trump slams Fed for 'incessantly' raising interest rates
- May 01, 2019

Some are concerned that the nomination of Moore, who holds similar views with the president, might undermine the Fed's independence. "I think neither his politics nor his views of women are very amusing". That decision came after four Republican senators said they would not support him, closing his path to confirmation. Earlier Tuesday on CNBC he reiterated his concern over trends in male earnings, not women's pay. (more...)
Vodafone identified Huawei security flaw decade ago
- April 30, 2019

Vodafone previously identified hidden backdoors that could have given Huawei or the Chinese government unauthorized access to Vodafone's Italian fixed-line network, which provides internet access to millions of customers and businesses. Britain's Vodafone discovered security failings in Huawei internet routers used by millions of people nearly a decade ago. "This was nothing more than a failure to remove a diagnostic function after development", the spokesperson wrote. (more...)
Trump's Fed pick Moore not planning to drop out of Fed consideration Trump's Fed pick Moore not planning to drop out of Fed consideration
- April 30, 2019

Moore is a renowned conservative commentator for two or more decades. Moore told ABC's "This Week" on Sunday that he was "apologetic" for the content of some of the humour columns he wrote years ago that have recently sparked controversy, but argued that the focus for the Fed board nomination should be on his economic qualifications, Xinhua reported. (more...)
Spotify reaches 100 million paying subscribers Spotify reaches 100 million paying subscribers
- April 30, 2019

The growth was driven, among other things, by "a better-than-planned promotion in the us and Canada". Of those, 100 million are paying subscribers, compared with 96 million at the end of 2018. It had a net loss of 142 million euros, or about $158 million. Spotify is in the middle of a battle for market share with music streaming competitors with deep pockets, including Google's Play Music and YouTube Music brands, Amazon and Tidal, the service owned by Jay-Z, Beyoncé and other stars. (more...)