Markets


Uber lays off 400 employees globally Uber lays off 400 employees globally
- July 31, 2019

According to a media report, Jill Hazel baker, who leads marketing and public affairs at Uber , and CEO Dara Khosrowshahi told employees Monday that the marketing team would have a more centralized structure. "Today, there's a general sense that while we've grown fast, we've slowed down", Khosrowshahi wrote in the email reviewed by Bloomberg . This move comes on the heels of the ride-hailing company recently merging its marketing, communication and policy teams last month. (more...)
Survey shows 28% of delivery drivers have tasted your food Survey shows 28% of delivery drivers have tasted your food
- July 31, 2019

When it comes to where to order food from, 54% of customers turn to an app with a specific restaurant in mind, while 46% browse before deciding. "We're sorry to report that sometimes, impulse gets the best of deliverers, and they violate their sacred duty by taking some of the food!" the organization said in a statement. (more...)
Dozens charged with rioting to appear in Hong Kong court Dozens charged with rioting to appear in Hong Kong court
- July 31, 2019

The riot charges are the most serious brought since protests began last month. Police said late Tuesday that 44 people had been charged with rioting and one other with possessing offensive weapons. It wasn't clear who was responsible. At a demonstration outside Tin Shui Wai police station in the early hours of Wednesday, the occupants of a passing vehicle fired fireworks into the crowd, injuring six people, police said. (more...)
China, US conclude Shanghai talks without signaling progress China, US conclude Shanghai talks without signaling progress
- July 31, 2019

Economists say quick breakthroughs are unlikely because the two governments face the same disagreements over China's technology policy and trade surplus that caused talks to break down in May. "They'll pray that Trump loses and they'll make a deal with a stiff, somebody who doesn't know what they're doing". Washington complains those efforts depend on stealing or pressuring foreign companies to hand over technology. (more...)
CBI urges government to engage with business over no-deal Brexit CBI urges government to engage with business over no-deal Brexit
- July 31, 2019

With the likelihood of no deal increasing, the CBI has published "practical steps" that all parties can take to "reduce the worst effects". Although firms have already spent heavily on no-deal contingency planning, the CBI says that businesses "remain hampered by unclear advice, timelines, cost and complexity". (more...)
Vauxhall Ellesmere Port factory loss would have 'big impact' on Wales Vauxhall Ellesmere Port factory loss would have 'big impact' on Wales
- July 31, 2019

A union has accused Boris Johnson of playing "no deal roulette" with the livelihoods of thousands of workers after Vauxhall said Brexit threatened the future of one of its United Kingdom factories. 80 per cent of cars built at Ellesmere Port are exported to Europe. The carmaker said on Monday the group are still looking to manufacture the next generation Astra at both the Russelsheim and Ellesmere. (more...)
Air Canada grounds Boeing 737 MAX jets up to January 2020 Air Canada grounds Boeing 737 MAX jets up to January 2020
- July 31, 2019

Final decisions on returning the Boeing 737 Max to service "will be based on Air Canada's safety assessment following the lifting of government safety notices and approval by worldwide regulatory authorities", the Montreal-based airline said Tuesday. (more...)
Wall Street mixed as Amazon, Facebook weigh Wall Street mixed as Amazon, Facebook weigh
- July 31, 2019

Investors will also be wading through the heaviest slate of the current corporate earnings reporting season. As trade talks between the world's two biggest economies resumed on Tuesday, Trump warned China against trying to wait out his first term in office to finalize a deal. (more...)
Capital One Data Breach Affects 106 Million People, Suspect Arrested Capital One Data Breach Affects 106 Million People, Suspect Arrested
- July 31, 2019

About a million of social insurance numbers from people in Canada were stolen, as well. Even with these increased costs, Capital One states that they have cyber security insurance that will cover up to $400 million with a $10 million deductible. (more...)
Coffee Day Enterprises Ltd Coffee Day Enterprises Ltd
- July 31, 2019

Coffee Day Enterprises is the holding company and the key companies of the group include Coffee Day Global Ltd (coffee business), Sical Logistics Ltd (integrated logistics), Tanglin Developments Ltd (real estate), Way2Wealth (financial services) and Coffee Day Hotels and Resorts Ltd (hospitality). (more...)
Gold climbs Rs 160 on jewellers' buying; silver gains Rs 150 Gold climbs Rs 160 on jewellers' buying; silver gains Rs 150
- July 30, 2019

Among other precious metals, silver rose 0.3% to $16.51 per ounce, while platinum fell 1.1% to $869.71 per ounce. United States interest rate cuts and lower job numbers means losses for the USA dollar, and a chance for the yellow metal to take off higher. (more...)
US Pres. Trump on Fed: A small rate cut is not enough US Pres. Trump on Fed: A small rate cut is not enough
- July 30, 2019

A step to bolster sluggish inflation? "We have the all-time high in the history of the stock market", he added, yet if not for what he called the Fed's tight credit policy, "I think I would have been 10,000 points higher". The Fed has generally lowered interest rates when the economy is slow in order to encourage borrowing. Powell stoked expectations of a rate cut in recent weeks, citing the U.S. (more...)
UK PM Johnson's no-deal Brexit gamble hammers sterling UK PM Johnson's no-deal Brexit gamble hammers sterling
- July 30, 2019

Johnson was expected to tell Welsh farmers on Tuesday they will get a better deal after Brexit, part of a countrywide tour to win support for his "do or die" pledge to leave the European Union by October 31. Mr Johnson appeared to strike a slightly softer tone on Monday afternoon, when he said he would "hold out the hand" and "go the extra thousand miles" to strike a new Brexit deal. (more...)
London Stock Exchange negotiating $27 billion takeover of Refinitiv London Stock Exchange negotiating $27 billion takeover of Refinitiv
- July 30, 2019

The tie-up would create little overlap in trading, although Berenberg analysts said regulators are likely to look at the impact of combining Refinitiv's over-the-counter trading platforms with LSE's clearing business. Major exchanges, including Intercontinental Exchange Inc, Nasdaq Inc and Deutsche Boerse, have been more successful in inking smaller deals that diversify their businesses away from basic stock trading. (more...)
EU court rules sites must warn about Facebook 'like' button EU court rules sites must warn about Facebook 'like' button
- July 30, 2019

Website operators embedding Facebook "Like" buttons and other social media plug-ins into their pages are joint data controllers, making them subject to the GDPR data privacy regulations. Facebook's "Like" is far from an innocent expression of affection for a brand or a message: its primary goal is to track individuals across websites, and permit data collection even when they are not explicitly using any of Facebook's products. (more...)
Capital One says breach hit 6 million Canadians, 100 million in US Capital One says breach hit 6 million Canadians, 100 million in US
- July 30, 2019

The bank said it found out about the vulnerability in its system July 19 and immediately sought help from law enforcement to catch the perpetrator. The suspect, a 33-year-old former Seattle technology company software engineer identified as Paige Thompson, made her initial appearance in U.S. (more...)
GM designer says the 2020 Chevrolet Corvette Stingray is 'nearly sold out' GM designer says the 2020 Chevrolet Corvette Stingray is 'nearly sold out'
- July 30, 2019

The C8-gen Corvette hasn't even officially gone on sale yet, but the event allowed people to reserve a spot online for one. The design chief at GM, Michael Simcoe, alluded that the brand-new C8 is almost sold out for the 2020 year at the Concours d'Elegance of America. (more...)
Elon Musk Announces Cool New Features For Electric Car Line Elon Musk Announces Cool New Features For Electric Car Line
- July 30, 2019

The revelation of Netflix and YouTube support for Tesla isn't surprising. The YouTube and Netflix movie streaming feature (which it must be noted may require your own premium subscriptions depending on the platform of choice) are, according to Musk, "amazingly immersive" with a cinematic feel thanks to comfy seats and surround sound audio. (more...)
'Backstop is dead': Johnson pushes United Kingdom closer to no-deal Brexit 'Backstop is dead': Johnson pushes United Kingdom closer to no-deal Brexit
- July 30, 2019

It slipped below US$1.23 and also fell sharply against the Euro to its lowest point since March 2017. Sterling has fallen more than 2 1/2 cents since Johnson was named leader. The pound sank to a 28-month low against the dollar as Boris Johnson's government toughened its rhetoric on Brexit. The yield on Britain's benchmark 10-year gilt GB10YT=RR fell to the lowest in nearly three years as investors sought a safe haven. (more...)
Just Eat satisfies hunger for takeaway Dutch CEO Just Eat satisfies hunger for takeaway Dutch CEO
- July 30, 2019

Shareholders in London-listed Just Eat will receive 0.09744 Takeaway .com shares for each share, implying a value of 731 pence per Just Eat share. It argues that online food ordering will be highly profitable for just one player in each country. It launched a website titled " Just Eat must deliver" and agitated against chief executive Peter Plumb, who left soon after. (more...)