Markets
WeWork board members seek CEO Neumann's ouster
- September 25, 2019
Neumann had been heavily criticised by investors and corporate governance experts for seeking to force through very unusual arrangements that would have given him disproportionate control of the firm. Neumann has come under backlash because of his power to control WeWork . No challenge to Mr Neumann has yet been tabled, the sources said. Prospective public investors have been unreceptive to WeWork's plans to tap the public markets for more money, forcing the company to slash its proposed ... (more...)
- September 25, 2019
Neumann had been heavily criticised by investors and corporate governance experts for seeking to force through very unusual arrangements that would have given him disproportionate control of the firm. Neumann has come under backlash because of his power to control WeWork . No challenge to Mr Neumann has yet been tabled, the sources said. Prospective public investors have been unreceptive to WeWork's plans to tap the public markets for more money, forcing the company to slash its proposed ... (more...)
Kik is killing its messaging app to focus on cryptocurrency
- September 25, 2019
Securities and Exchange Commission over its cryptocurrency venture. "The decision to shut Kik and scale back to a small core developer team is all about continuing to support the Kin cryptocurrency". The CEO stated that the SEC is "working to characterize nearly all cryptocurrencies as securities" - thus forcing token operators to abide by American securities laws that date back nearly a century. (more...)
- September 25, 2019
Securities and Exchange Commission over its cryptocurrency venture. "The decision to shut Kik and scale back to a small core developer team is all about continuing to support the Kin cryptocurrency". The CEO stated that the SEC is "working to characterize nearly all cryptocurrencies as securities" - thus forcing token operators to abide by American securities laws that date back nearly a century. (more...)
Home Price Increases May Be Turning a Corner: Case-Shiller
- September 25, 2019
By comparison, July 2018 saw seasonally adjusted annual home-price growth of 6.7%. Pacific markets constituted half of the 10 markets experiencing the slowest home price growth, while Southern and Midwestern markets made up half of the 10 markets with the fastest growth. (more...)
- September 25, 2019
By comparison, July 2018 saw seasonally adjusted annual home-price growth of 6.7%. Pacific markets constituted half of the 10 markets experiencing the slowest home price growth, while Southern and Midwestern markets made up half of the 10 markets with the fastest growth. (more...)
RBI Imposes Restrictions On PMC Bank From Doing Business For 6 Months
- September 25, 2019
The RBI had offered the bank an option of a merger, sources said, in case it was incapable of adhering to the restrictions imposed by the regulatory body. The restrictions were imposed on the bank by the RBI under Section 35A of the Banking Regulation Act, 1949. In added trouble for the customers, they can only withdraw an amount up to Rs 1000. (more...)
- September 25, 2019
The RBI had offered the bank an option of a merger, sources said, in case it was incapable of adhering to the restrictions imposed by the regulatory body. The restrictions were imposed on the bank by the RBI under Section 35A of the Banking Regulation Act, 1949. In added trouble for the customers, they can only withdraw an amount up to Rs 1000. (more...)
Trump at UNGA: 'No countries should subsidise Iran's bloodlust'
- September 25, 2019
He criticized China for failing to adopt the reforms it promised when it joined the World Trade Organization. "Hopefully, we can reach a deal that would be beneficial for both countries, but as I have made very clear, I will not accept a bad deal for the American people", he said. (more...)
- September 25, 2019
He criticized China for failing to adopt the reforms it promised when it joined the World Trade Organization. "Hopefully, we can reach a deal that would be beneficial for both countries, but as I have made very clear, I will not accept a bad deal for the American people", he said. (more...)
WeWork CEO to step down amid faltering IPO
- September 24, 2019
Neumann also met Sunday with Jamie Dimon , CEO of JPMorgan Chase , the lead underwriter for the company's initial public offering , and the encounter weighed on Neumann's decision to step down, the sources said. Investors were also concerned that Neumann had taken $700m out of the company ahead of the share sale and would keep tight control even after it. (more...)
- September 24, 2019
Neumann also met Sunday with Jamie Dimon , CEO of JPMorgan Chase , the lead underwriter for the company's initial public offering , and the encounter weighed on Neumann's decision to step down, the sources said. Investors were also concerned that Neumann had taken $700m out of the company ahead of the share sale and would keep tight control even after it. (more...)
Another Kansas resident dies from vaping illness as state reports nine cases
- September 24, 2019
The man who died had underlying health conditions, but no other details about the case were released. There have been nine known deaths related to vaping in the United States so far - two in California, two in Kansas, and one in Illinois, Indiana, Minnesota, Missouri and Oregon. (more...)
- September 24, 2019
The man who died had underlying health conditions, but no other details about the case were released. There have been nine known deaths related to vaping in the United States so far - two in California, two in Kansas, and one in Illinois, Indiana, Minnesota, Missouri and Oregon. (more...)
Starbucks court ruling deals blow to EU tax break fight
- September 24, 2019
The European Commission in its 2015 decisions said Starbucks and Fiat Chrysler set prices for goods and services sold between subsidiaries, known as transfer prices, that were below market rates and which artificially lowered their taxes. The Commission has denied the accusations while the countries involved have amended their tax rules in recent years. It said that the tax ruling endorsed an artificial and extremely complex methodology that is not appropriate for the calculation of taxable ... (more...)
- September 24, 2019
The European Commission in its 2015 decisions said Starbucks and Fiat Chrysler set prices for goods and services sold between subsidiaries, known as transfer prices, that were below market rates and which artificially lowered their taxes. The Commission has denied the accusations while the countries involved have amended their tax rules in recent years. It said that the tax ruling endorsed an artificial and extremely complex methodology that is not appropriate for the calculation of taxable ... (more...)
Thomas Cook declares bankruptcy, India chairman says United Kingdom group a separate entity
- September 24, 2019
So how can you do that?" said David Midson, holidaying on the island of Corfu. "Everyone in the hotel here is shocked, and everyone in this hotel has come with Thomas Cook..." "This repatriation is hugely complex and we are working around the clock to support passengers", they added. (more...)
- September 24, 2019
So how can you do that?" said David Midson, holidaying on the island of Corfu. "Everyone in the hotel here is shocked, and everyone in this hotel has come with Thomas Cook..." "This repatriation is hugely complex and we are working around the clock to support passengers", they added. (more...)
US, China to hold high-level trade talks
- September 24, 2019
Most Asian share markets slipped on Monday as investors waited for more clarity on Sino-US trade talks, while oil gained more than 1 per cent as Middle East tensions remained elevated. Japan's Nikkei ended up 0.2% after a market holiday on Monday. In currencies, the dollar gained a tad against the safe haven Japanese yen to 107.61. (more...)
- September 24, 2019
Most Asian share markets slipped on Monday as investors waited for more clarity on Sino-US trade talks, while oil gained more than 1 per cent as Middle East tensions remained elevated. Japan's Nikkei ended up 0.2% after a market holiday on Monday. In currencies, the dollar gained a tad against the safe haven Japanese yen to 107.61. (more...)
Petrol price spikes to Rs 73.91 in Delhi
- September 24, 2019
A litre of diesel costs ₹67.07 in Delhi , ₹70.37 in Mumbai , ₹77.91 in Chennai and ₹69.36 in Bengaluru. Prices rose by 27 paise, 28 paise, 27 paise and 31 paise compared to Saturday's price levels. After this attack, crude oil supplies have been affected all over the world. It sold 40.33 million tonnes of crude oil to India in 2018-19 fiscal, when the country had imported 207.3 million tonnes of oil. (more...)
- September 24, 2019
A litre of diesel costs ₹67.07 in Delhi , ₹70.37 in Mumbai , ₹77.91 in Chennai and ₹69.36 in Bengaluru. Prices rose by 27 paise, 28 paise, 27 paise and 31 paise compared to Saturday's price levels. After this attack, crude oil supplies have been affected all over the world. It sold 40.33 million tonnes of crude oil to India in 2018-19 fiscal, when the country had imported 207.3 million tonnes of oil. (more...)
Nissan Motor, Carlos Ghosn fined $16 million for failing to disclose pay
- September 24, 2019
Meanwhile, Ghosn's global defense team welcomed the settlement with the SEC, saying in a statement, "We are pleased to have resolved this matter in the USA with no findings or admission of wrongdoing". The $140 million in undisclosed compensation was never paid out to Ghosn. "Simply put, Nissan's disclosures about Ghosn's compensation were false", Steven Peikin, co-director of the SEC's enforcement division, said in a statement. (more...)
- September 24, 2019
Meanwhile, Ghosn's global defense team welcomed the settlement with the SEC, saying in a statement, "We are pleased to have resolved this matter in the USA with no findings or admission of wrongdoing". The $140 million in undisclosed compensation was never paid out to Ghosn. "Simply put, Nissan's disclosures about Ghosn's compensation were false", Steven Peikin, co-director of the SEC's enforcement division, said in a statement. (more...)
Saudi Arabia to restore full oil output by next week
- September 24, 2019
But Johnson, talking to reporters on the plane to the UN General Assembly in NY, also said Britain will work with allies to "de-escalate" Mideast tensions. The Iranian government, meanwhile, has forcefully denied any involvement , accusing the us of engaging in political "posturing" through its accusations. (more...)
- September 24, 2019
But Johnson, talking to reporters on the plane to the UN General Assembly in NY, also said Britain will work with allies to "de-escalate" Mideast tensions. The Iranian government, meanwhile, has forcefully denied any involvement , accusing the us of engaging in political "posturing" through its accusations. (more...)
Bakkt futures launch fails to support Bitcoin (BTC)
- September 24, 2019
Bakkt's highly anticipated Bitcoin futures product has now gone live, although just 26 Bitcoin has been traded in the opening nine hours. As a result, the company recently began to accept Bitcoin deposits, which is protected by an insurance policy of over $ 125 million. (more...)
- September 24, 2019
Bakkt's highly anticipated Bitcoin futures product has now gone live, although just 26 Bitcoin has been traded in the opening nine hours. As a result, the company recently began to accept Bitcoin deposits, which is protected by an insurance policy of over $ 125 million. (more...)
WeWork Board Members Seek to Remove Adam Neumann as CEO
- September 23, 2019
A contingent of board members and big investors including SoftBank are angling to remove CEO Adam Neumann from the helm of We Company, the parent of the struggling office-sharing startup, according to the Wall Street Journal . They also expressed doubts about WeWork's spending and whether it would become profitable, and how its business would hold up during a downturn. After reports last week of Neumann's eccentric behavior and drug use , directors are planning to prod Neumann to step ... (more...)
- September 23, 2019
A contingent of board members and big investors including SoftBank are angling to remove CEO Adam Neumann from the helm of We Company, the parent of the struggling office-sharing startup, according to the Wall Street Journal . They also expressed doubts about WeWork's spending and whether it would become profitable, and how its business would hold up during a downturn. After reports last week of Neumann's eccentric behavior and drug use , directors are planning to prod Neumann to step ... (more...)
Iran says "Hormuz Peace Initiative" seeks durable peace in region
- September 23, 2019
The PM said he would "follow very closely" American proposals to do more to defend Saudi Arabia , with Tehran's ire being further provoked by the US-led coalition patrolling the region's waterways. Johnson said: "Clearly if we are asked either by the Saudis or the Americans to have a role then we would consider in what way we could be useful". (more...)
- September 23, 2019
The PM said he would "follow very closely" American proposals to do more to defend Saudi Arabia , with Tehran's ire being further provoked by the US-led coalition patrolling the region's waterways. Johnson said: "Clearly if we are asked either by the Saudis or the Americans to have a role then we would consider in what way we could be useful". (more...)
Iran resists sanctions, USA is 'desperate,' Rouhani says
- September 23, 2019
Tehran has issued denials. He said: "I can tell you that the United Kingdom is attributing responsibility with a very high degree of probability to Iran for the Aramco attacks ". "The priority subject is whether we can restart a de-escalation path with the different actors", Mr Jean-Yves Le Drian told reporters. "If that deterrence should continue to fail, I am also confident that President Trump would continue to take the actions that are necessary", he said. (more...)
- September 23, 2019
Tehran has issued denials. He said: "I can tell you that the United Kingdom is attributing responsibility with a very high degree of probability to Iran for the Aramco attacks ". "The priority subject is whether we can restart a de-escalation path with the different actors", Mr Jean-Yves Le Drian told reporters. "If that deterrence should continue to fail, I am also confident that President Trump would continue to take the actions that are necessary", he said. (more...)
United Kingdom believes Iran was behind Saudi oil attacks - PM Johnson
- September 23, 2019
Saudi Arabia and the USA also blame Iran . Separately, a British government official told reporters that the Houthi's claim to have carried out the attack was "implausible". File image of Iran president Hassan Rouhani . European nations, including Britain, still adhere to an global deal created to limit Iran's nuclear ambitions, but Trump has pulled the US out of the agreement. (more...)
- September 23, 2019
Saudi Arabia and the USA also blame Iran . Separately, a British government official told reporters that the Houthi's claim to have carried out the attack was "implausible". File image of Iran president Hassan Rouhani . European nations, including Britain, still adhere to an global deal created to limit Iran's nuclear ambitions, but Trump has pulled the US out of the agreement. (more...)
Walmart to stop selling vapes once it sells through inventory
- September 23, 2019
Last week, MI became the first state to ban the sale of flavored e-cigarettes. Ninety-seven percent of youth vapers use flavored varieties. E-cigarettes represent a very small part of Walmart's nicotine business, which also includes traditional cigarettes, smokeless tobacco and nicotine gum. (more...)
- September 23, 2019
Last week, MI became the first state to ban the sale of flavored e-cigarettes. Ninety-seven percent of youth vapers use flavored varieties. E-cigarettes represent a very small part of Walmart's nicotine business, which also includes traditional cigarettes, smokeless tobacco and nicotine gum. (more...)
France says top issue is de-escalation _ not US-Iran talks
- September 23, 2019
Mr Rouhani also said Iran would present a new Gulf peace initiative at the United Nations in the coming days. Al Jazeera's John Hendren reports from Washington, DC. "We expect Iran to go back to full compliance because weakening the accord would only increase the risk of conflicts due to the issue of a nuclear Iran", said Le Drian. (more...)
- September 23, 2019
Mr Rouhani also said Iran would present a new Gulf peace initiative at the United Nations in the coming days. Al Jazeera's John Hendren reports from Washington, DC. "We expect Iran to go back to full compliance because weakening the accord would only increase the risk of conflicts due to the issue of a nuclear Iran", said Le Drian. (more...)
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