Ashley puts Newcastle up for sale

Newcastle United owner Mike Ashley is ready to end his controversial reign after putting the Premier League club up for sale on Monday. Ashley has been a polarising figure at Newcastle since taking over at St James’ Park in 2007 and the sports retail tycoon has decided now is the time to step down. Newcastle have… Continue reading “Ashley puts Newcastle up for sale”

CarGurus (CARG) IPO up 72 percent, as rich get richer

WASHINGTON, October 15, 2017 – We’re a little late following up on our attempt to grab some shares in CarGurus, this week’s most exciting IPO. Or, we should say, “failed attempt.” We didn’t get any shares at all, something we anticipated in our previous discussion of this issue: “Currently expected to price tonight between $13-15, the… Continue reading “CarGurus (CARG) IPO up 72 percent, as rich get richer”

Houston’s flood-damaged homes are selling like a hot cake flash sale and real estate investors can’t resist

Harvey The recent hemorrhage of hurricanes have rocked the real estate market so much that investors are scooping up flood-damaged homes for as low as 40 cents on the dollar in states like Texas, according to a new report. Some major Wall Street venture capital firms are getting behind the idea of buying flood-ravaged property, refurbishing… Continue reading “Houston’s flood-damaged homes are selling like a hot cake flash sale and real estate investors can’t resist”

‘Most’ Fed members see rising inflation in 2018: Yellen

The majority of policymakers at the US central bank believe US price pressures will rise in 2018 despite recent weakness, Federal Reserve Chair Janet Yellen said Sunday. Sharp divisions among Fed members have persisted since last year over the causes of persistently weak inflation, which has failed to rise in the face of falling unemployment and… Continue reading “‘Most’ Fed members see rising inflation in 2018: Yellen”

Weak earnings leave Wells Fargo in US banking doghouse

Slumping US financial giant Wells Fargo badly missed earnings estimates Friday due to $1 billion in new legal costs and higher overall expenses, raising fresh questions about the scandal-plagued bank. Wells Fargo reported flat or lower revenues in many key consumer banking segments in the aftermath of a fake accounts scandal that led to a shakeup… Continue reading “Weak earnings leave Wells Fargo in US banking doghouse”

Your Favorite TV Channels Could Soon Be Gone

Imagine turning on your TV and realizing that dozens of your favorite channels had suddenly disappeared. You keep flicking the remote, and all you see as you switch the channels is a dark screen; no MTV, no BET, no Comedy Central or VH1. They were just there yesterday, but now they appear to no longer exist.… Continue reading “Your Favorite TV Channels Could Soon Be Gone”

US mobile carriers Sprint, T-Mobile to merge: report

Japan’s SoftBank has reached a broad accord to merge its US subsidiary Sprint with T-Mobile to create a rival to America’s top two wireless carriers, a newspaper said Saturday. SoftBank and German group Deutsche Telekom, which holds 64 percent of T-Mobile, are considering a stock swap for the deal, which could be announced as early as… Continue reading “US mobile carriers Sprint, T-Mobile to merge: report”

Mexico expects ‘win-win’ in NAFTA negotiations: central bank

Mexico expects the renegotiation of the North American trade pact to produce benefits for itself, the United States and Canada, Mexican central bank Governor Agustin Carstens said Saturday. “NAFTA has been tremendously important for the Mexican economy and … there is plenty of room to modernize NAFTA, to make it fair and productive for the three… Continue reading “Mexico expects ‘win-win’ in NAFTA negotiations: central bank”

Digital fiat currency will be deployed in developing countries first: Expert

While Initial Coin Offerings (ICO) have been banned by Chinese authorities since Sept 4, experts, scholars, and companies from more than 40 countries gathered at a workshop in Beijing, the country’s capital city, from Thursday to Friday, to chart a course for digital fiat currency issued by central banks. The People’s Bank of China (PBOC), China’s… Continue reading “Digital fiat currency will be deployed in developing countries first: Expert”

Ivanka Trump touts launch of World Bank businesswomen’s fund

Ivanka Trump, President Donald Trump’s daughter and a White House advisor, on Saturday touted the creation of a new World Bank initiative to foster entrepreneurship among women. The initiative launched this week, the Women Entrepreneurs Finance Initiative or We-Fi, aims to boost access to capital for businesswomen in the developing world. “Fully unleashing the power of… Continue reading “Ivanka Trump touts launch of World Bank businesswomen’s fund”

Futuristic solar-powered Dutch family car hailed ‘the future’

A futuristic Dutch family car that not only uses the sun as power but supplies energy back to the grid was hailed as “the future” Sunday as the World Solar Challenge wrapped up. The innovative bi-annual contest, first run in 1987, began in Darwin a week ago with 41 vehicles setting off on a 3,000-kilometre (1,860-mile)… Continue reading “Futuristic solar-powered Dutch family car hailed ‘the future’”

Tesla fires hundreds after performance reviews

PALO ALTO, Calif. — Tesla fired hundreds of workers this past week, including engineers, managers and factory workers, even as the company struggles to expand its manufacturing and product line. The dismissals come at a crucial point for the company, which is pushing to increase vehicle production fivefold and reach a broader market with its new… Continue reading “Tesla fires hundreds after performance reviews”

World Food Day 2017 – Invest in Food Security and Rural Development [press release]

The Ministry of Agro-Industry and Food Security will, in the context of celebrations marking World Food Day 2017, organise a series of activities on the theme chosen by the Food and Agricultural Organization “Change the Future of Migration: Invest in food security and rural development”. The activities comprise a national exhibition/agricultural fair which will include sale… Continue reading “World Food Day 2017 – Invest in Food Security and Rural Development [press release]”

‘EU knows we mean business’ – UK Finance Minister

British finance minister Philip Hammond has rejected calls to start spending on plans for a “no deal” Brexit as a way to put pressure on the rest of the European Union. He also stressed the need progress in talks, which have stalled on issues like the Brexit bill and the Northern Ireland border “Some are urging… Continue reading “‘EU knows we mean business’ – UK Finance Minister”

Paris wants to phase out diesel cars by 2024

Paris city authorities said Thursday they aimed to phase out the use of diesel cars by the time the French capital hosts the Olympics in 2024, and petrol cars by 2030. Mayor Anne Hidalgo’s office said the goals — which are more ambitious time-wise than a government plan to end sales of petrol and diesel vehicles… Continue reading “Paris wants to phase out diesel cars by 2024”

Samsung Electronics expects record $12.8bn Q3 operating profit

Samsung Electronics said Friday it expected profits to hit an all-time high in the third quarter, as booming semiconductor sales boost the South Korean IT giant. The company estimated operating profits of 14.5 trillion won ($12.8 billion) in the July-September period, a record for quarterly profit and nearly three times the 5.2 trillion won earned a… Continue reading “Samsung Electronics expects record $12.8bn Q3 operating profit”

Branson’s Virgin Group joins Hyperloop One project

Richard Branson’s Virgin Group announced Thursday it is investing in Hyperloop One in a strategic partnership aimed at establishing new passenger and cargo transport services for the superfast rail concept. As part of the deal, Branson will join the board of the California startup, which will be renamed Virgin Hyperloop One in the coming months, according… Continue reading “Branson’s Virgin Group joins Hyperloop One project”

Five principles to leverage period of opportunity

Many Chinese aphorisms urge people to work hard. Few urge them to work smarter, but that, as the country’s leadership has made clear, is what is needed now. Although it is its hard work that has propelled the country’s rapid economic growth since the launch of reform and opening-up, and which has seen it become the… Continue reading “Five principles to leverage period of opportunity”

Digital payments forecast: 726 billion transactions a year by 2020, study says

As technology continues to seep into almost every aspect of our lives, the use of digital payments is set to grow exponentially in the next few years, new research shows. The findings indicate that there’s no stopping the non-cash payment movement as consumers adopt new technology. Emerging markets will lead the growth of digital transactions, according… Continue reading “Digital payments forecast: 726 billion transactions a year by 2020, study says”

Japan steel scandal grows as more carmakers hit: report

Six of Japan’s best-known carmakers including Nissan and Honda used products from Kobe Steel, a report said Wednesday, after the firm admitted to falsifying quality data in a growing scandal. Business daily Nikkei said Mitsubishi Motors, Subaru and Mazda had also used products from Kobe Steel in their vehicles. Auto giant Toyota has already said that… Continue reading “Japan steel scandal grows as more carmakers hit: report”

Uber’s Indian Rival Raises $1.1 Billion Funding From Tencent, SoftBank

Uber has many rivals in different countries worldwide, but the two biggest ones are Didi Chuxing from China and Ola from India, and they are steadily gaining ground. In the latest development, Ola has secured $1.1 billion in funding from Chinese investment company Tencent and Japanese finance giant SoftBank. The ride-hailing service, Ola, revealed to CNBC… Continue reading “Uber’s Indian Rival Raises $1.1 Billion Funding From Tencent, SoftBank”

Winter Forecast: Households Will Pay More For Heat

Millions of Americans will suffer double-digit increases in home heating costs this winter, thanks mostly to a perfect storm of colder weather and higher energy costs, a new report shows. The main problem is the cold — with temps that are predicted to drop an average of 13 percent nationwide compared to last winter. The south… Continue reading “Winter Forecast: Households Will Pay More For Heat”

Smart technology will be a crucial trend

Jim Umpleby is CEO of Caterpillar Inc, a global corporation which manufactures construction equipment such as excavators. What factors will boost growth this year and in 2018, and what are the challenges facing China’s economy? With connections along the route, western China has a role to play in the success of the Belt and Road Initiative.… Continue reading “Smart technology will be a crucial trend”

Could Selling Data Spell Legal Trouble on Wall Street?

The investment landscape is changing rapidly and asset managers are finding themselves in an arms race for new forms of alternative data. Everything from mobile phone location data to internet of things (IoT) data about crop yields, are being scraped, sanitized, packaged and sold on to investment managers looking for an edge when making decisions. But… Continue reading “Could Selling Data Spell Legal Trouble on Wall Street?”

Sears closing stores in Canada

Sears said Tuesday it will seek court approval to liquidate all of its remaining Canadian stores, marking the end of an iconic department store. The company said in a statement that it would make the application to the Ontario Superior Court on Friday. Like other major department stores, Sears Canada was the victim of changing consumer… Continue reading “Sears closing stores in Canada”

China set to gain lead in flat-panel production

China is expected to replace South Korea as the world’s largest flat-panel display producer in 2019, an industry report said. The nation has invested 800 billion yuan ($120.6 billion) in flat-panel display production lines, with investment in liquid crystal display (LCD) panel production exceeding 500 billion yuan, according to the China Video Industry Association and China… Continue reading “China set to gain lead in flat-panel production”

Japan’s Kobe Steel CEO warns of deepening quality scandal

The head of Japan’s Kobe Steel warned Thursday that a quality control scandal engulfing his firm was likely to widen at home and abroad, as he acknowledged that trust in the steelmaker has “fallen to zero”. The comments came as a growing list of customers, including major automakers Toyota, Nissan and Honda, scramble to assess the… Continue reading “Japan’s Kobe Steel CEO warns of deepening quality scandal”

IMF chief urges more support for global trade

IMF Managing Director Christine Lagarde urged global leaders Wednesday not to reject international trade as policy shifts by Washington and London force resets on major global commercial treaties. Lagarde admitted that the rapid lowering of trade barriers in recent decades had caused significant dislocation, including job losses, downward pressure on wages and higher inequality in both… Continue reading “IMF chief urges more support for global trade”

IMF sounds alert over debt in largest economies

For the first time in years the International Monetary Fund is optimistic about global economic growth. But it sees a new problem: mounting debt in the world’s largest countries. “Debt levels are increasing in G20 economies,” Tobias Adrian, who heads the IMF’s monetary and capital markets division, said Wednesday. Among private businesses in those countries, leverage… Continue reading “IMF sounds alert over debt in largest economies”

Richard Thaler of US wins Nobel Economics Prize

US economist Richard Thaler on Monday won the Nobel Economics Prize for his pioneering work bridging the gap between economics and psychology, the jury said. “By exploring the consequences of limited rationality, social preferences, and lack of self-control, he has shown how these human traits systematically affect individual decisions as well as market outcomes,” the Nobel… Continue reading “Richard Thaler of US wins Nobel Economics Prize”

Stock market ignores Donald Trump distractions, rallies on strong economy

The stock market has rallied and roared since Americans for the first time sent a billionaire businessman to the White House, with the Dow Jones industrial average setting 62 record-high closings since the Nov. 8 presidential election. Nothing has seriously discouraged investors – not the most deadly shooting rampage in modern U.S. history, not a series… Continue reading “Stock market ignores Donald Trump distractions, rallies on strong economy”

UN slaps global port ban on ships for N. Korea sanctions violations

The UN has slapped a global port ban on four vessels found violating sanctions against North Korea, the head of an expert panel said Monday in what he described as an unprecedented move. “There are four vessels that have been designated by the committee. The designation doesn’t mean an assets freeze or travel ban. But it’s… Continue reading “UN slaps global port ban on ships for N. Korea sanctions violations”

Costco is taking on Amazon with big changes to its delivery service

After e-commerce giant Amazon purchased Whole Foods Market and promised to lower prices, Costco Wholesale is making moves to strengthen its own grocery business, specifically with delivery. The membership-only warehouse club has rolled out two grocery delivery services to compete with Amazon and Walmart. RELATED: 9 items that will pay for your Costco membership Costco adds… Continue reading “Costco is taking on Amazon with big changes to its delivery service”

Netflix raising subscription prices

Netflix on Thursday said it is bumping up subscription prices in the US and parts of Europe as the leading online streaming service invests in more shows and features. Shares of the Silicon Valley-based company jumped more than four percent to $192.44 in trading following news of the relatively small price hike. “From time to time,… Continue reading “Netflix raising subscription prices”

Bitcoin Platform Luno Announces Europe Expansion, $9m Series B Funding Round

Popular Bitcoin platform Luno has completed a $9m (£6.7m) Series B funding round, led by London-based Balderton Capital, and is expanding into 35 new markets across Europe. New investors AlphaCode and existing investors Digital Currency Group also participated in the round. This follows Luno’s $4m Series A round, which was led by emerging market tech giant… Continue reading “Bitcoin Platform Luno Announces Europe Expansion, $9m Series B Funding Round”

Macron ‘inflexible’ on opposition to Nokia job cuts

French President Emmanuel Macron on Friday told Finnish Prime Minister Juha Sipila of his “total inflexibility” to plans by telecoms giant Nokia to cut nearly 600 jobs in France. The Finnish group said this month it planned to reduce its headcount in France by 597, a little over 10 percent of its total workforce in the… Continue reading “Macron ‘inflexible’ on opposition to Nokia job cuts”

Want to save more? | Here’s an easy way to earn 100x more money on your savings

Want lower fees, higher returns, more convenience and better customer service from your bank? Join our #SwitchDitchSave movement and make your banking life easier and more rewarding! Earning more money on your savings has finally become a lot easier — if you choose the right bank! Here’s a look at what Clark had to say about… Continue reading “Want to save more? | Here’s an easy way to earn 100x more money on your savings”

Walmart testing ‘in-fridge’ home delivery service for customers who aren’t home

Walmart is testing a new grocery delivery service — one where you don’t have to be home to receive your order. Delivery drivers would be given a one-time passcode that provides access to the customer’s house if no one is there. Customers would receive an alert notification via the August Home app when a delivery person… Continue reading “Walmart testing ‘in-fridge’ home delivery service for customers who aren’t home”

Moody’s downgrades Britain debt rating on Brexit uncertainties

Moody’s cut Britain’s long-term credit rating Friday, citing economic uncertainty sparked by complex Brexit negotiations and the likelihood of weaker public finances. The ratings agency cut the debt grade one notch to Aa2 from Aa1 with a stable outlook, which reflects expectations Britain’s debt will “continue to rise,” and worries that whatever trade agreement is reached… Continue reading “Moody’s downgrades Britain debt rating on Brexit uncertainties”

‘Death Wish’ coffee recalled over botulism concerns

Death Wish Coffee Company, a New York-based coffee producer that advertises itself as maker of the “world’s strongest coffee,” is recalling some of its products over concerns that it could become tainted with the deadly botulinum toxin. Officials with the U.S. Food and Drug Administration said in a notice issued Tuesday that 11-ounce cans of Death… Continue reading “‘Death Wish’ coffee recalled over botulism concerns”

Tiny Salem County seeks a big prize — Amazon headquarters

SALEM — Officials in Salem County have their sights set on a big prize — landing Amazon’s second North American headquarters. Earlier this month the Seattle-based online retailer announced it was a holding competitive site selection process for a second headquarters in North America, a move which could bring up to 50,000 jobs to the winning… Continue reading “Tiny Salem County seeks a big prize — Amazon headquarters”

T-Mobile And Sprint Close To Agreeing On Merger Deal Terms

Major carriers Sprint and T-Mobile are close to agreeing on terms and could have a deal set by next month, sources told Reuters. Japan’s SoftBank, Sprint’s parent company, and other Sprint shareholders will own 40 to 50 percent of the merged company. Deutsche Telekom, T-Mobile’s parent company, along with T-Mobile shareholders will own the majority of… Continue reading “T-Mobile And Sprint Close To Agreeing On Merger Deal Terms”

Why China declared bitcoin a spent force

By putting restrictions on the trading of the online crypto-currencies generically known as bitcoin, China appears to have moved ahead of the curve. In the first week of this month, the People’s Bank of China, the country’s central bank, and other financial authorities banned organizations and individuals from raising funds in exchange for unregulated virtual currencies.… Continue reading “Why China declared bitcoin a spent force”

China confirms will limit oil exports to North Korea

China will limit exports of refined petroleum products to North Korea starting October 1, its commerce ministry said, confirming Beijing’s participation in new UN sanctions intended to rein in its rogue neighbour. The United Nations Security Council, including permanent member Beijing, approved tough sanctions against Pyongyang last week in response to its sixth and most powerful… Continue reading “China confirms will limit oil exports to North Korea”

Canada inflation 1.4 percent in August

Canadian consumers paid 1.4 percent more for goods and services in August than a year earlier, as transportation and shelter costs continued to rise, the government statistical agency said Friday. Inflation was a bit lower than analysts had expected, however, following a rate of 1.2 percent the previous month. According to Statistics Canada, gas prices increased… Continue reading “Canada inflation 1.4 percent in August”

Rickshaws to jump start India’s all-electric drive

India will roll out nearly 100,000 battery-powered buses and autorickshaws onto its sulphurous city streets in the coming weeks, setting it on the bumpy road to making new vehicle sales all-electric by 2030. India, one of the world’s most polluted nations, has one of the most ambitious plans to kick its fossil fuel addiction. Analysts say… Continue reading “Rickshaws to jump start India’s all-electric drive”

Shunning dollar, Venezuela lists oil prices in Chinese yuan

Venezuela on Friday began listing the price of its oil in the Chinese yuan, following President Nicolas Maduro’s announcement last week that he would rid the economy of the “US imperialist system.” The move was seen as a bid to weather US-imposed sanctions on the embattled country. The country’s petroleum ministry listed the week’s closing price… Continue reading “Shunning dollar, Venezuela lists oil prices in Chinese yuan”

North Korean hackers are trying to steal bitcoin and other cryptocurrencies

It’s no secret that in recent years, North Korea has stepped up efforts to expand its nuclear weapons stockpile. More quietly, though, it’s been stashing another commodity: bitcoin and other cryptocurrencies. According to a report by the security firm FireEye Inc., North Korean hackers have been targeting South Korean cryptocurrency exchanges. “These are essentially places where… Continue reading “North Korean hackers are trying to steal bitcoin and other cryptocurrencies”

China provides $10 billion credit line to Iran

A Chinese state-owned investment firm has provided a $10 billion credit line for Iranian banks, Iran’s central bank president said Saturday. The contract was signed in Beijing between China’s CITIC investment group and a delegation of Iranian banks led by central bank president Valiollah Seif. The Iran Daily said the funds would finance water, energy and… Continue reading “China provides $10 billion credit line to Iran”

Poland hikes defence spending surpassing NATO target

Poland on Friday hiked defence spending above the 2 percent of GDP target set by NATO which few member states have so far have met. The parliament, in which the rightwing government has a majority, endorsed plans by Defence Minister Antoni Macierewicz to raise the budget from the current 2 percent of GDP to 2.5 percent… Continue reading “Poland hikes defence spending surpassing NATO target”

Alibaba testing face recognition technology

Two units under internet giant Alibaba Group Holding Ltd are working in tandem to test facial recognition technology that will allow users to unlock delivery drop boxes. Cainiao Network Technology Co Ltd, an Alibaba-backed courier aggregator, is promoting such an application to its partner delivery firms and parcel pickup facility providers in a test run in… Continue reading “Alibaba testing face recognition technology”

Irma price gouging highlights sad truth: Consumer fleecing is the new normal

By Ramsi Woodcock, Professor of Legal Studies, Georgia State University. Delta, shown over Tampa in 2014, and other carriers jacked up fares ahead of Irma due to high demand. They later capped prices. Drew Horne/Shutterstock.com Since Hurricane Irma put Florida in its sights, there have been thousands of reports of price gouging on everything from water… Continue reading “Irma price gouging highlights sad truth: Consumer fleecing is the new normal”

JPMorgan CEO Jamie Dimon: Bitcoin Is ‘Fraud’

JPMorgan Chase & Co. CEO Jamie Dimon predicts government officials will shut down cryptocurrencies such as bitcoin after someone “gets killed,” adding that he would fire any “stupid” employee if they’re found to be trading bitcoin. JPMorgan’s Chief Executive Officer, who previously served on the Board of Directors of the Federal Reserve Bank in New York,… Continue reading “JPMorgan CEO Jamie Dimon: Bitcoin Is ‘Fraud’”

DowDuPont changes breakup plans

PHILADELPHIA — DowDuPont Inc., the temporary manufacturing giant formed in the Sept. 1 merger of Dow Chemical Co. and DuPont Co., said Tuesday it has amended its 2015 breakup blueprint. It now plans to transfer its automotive-supply and several other materials businesses, with total yearly sales of $8 billion, to a DuPont successor company based in… Continue reading “DowDuPont changes breakup plans”

France – France to sell off state assets

France is to sell off state assets to help raise billions of euros to finance innovation, Prime Minister Edouard Philippe said Sunday, confirming Economy Minister Bruno Le Maire’s declaration … The government will sell off some state assets, Philippe said in a radio interview on Sunday, but not necessarily 100 percent ownership of companies that are… Continue reading “France – France to sell off state assets”

Tronc Buys New York Daily News

Chicago Tribune publisher Tronc has bought the New York Daily News, ending an era of independent ownership for the tabloid. It marks a shift from the paper’s previous owner, Mortimer B. Zuckerman, a real estate magnate and influential figure in the city who used the paper’s combative front pages to pass comment on political figures. The… Continue reading “Tronc Buys New York Daily News”

Need extra cash? Amazon is hiring and you can work from home

If you’re looking for a job, Amazon is once again hiring for its virtual customer service center! The e-commerce giant needs part-time customer service associates who will work from home to troubleshoot issues that customers may have over phone, chat and email. Read more: Career expert reveals 9 secrets to resume success Amazon is hiring for… Continue reading “Need extra cash? Amazon is hiring and you can work from home”

BRICS boost from China

China will give 500 million yuan (64 million euros) for a BRICS economic and technology cooperation plan. Chinese President Xi Jinping says there will also be the equivalent of a further 3.3 million euros for projects at the BRICS countries’ New Development Bank. The announcement comes amid questions over the relevance of BRICS and China’s commitment… Continue reading “BRICS boost from China”

10 companies hiring work-at-home customer service representatives

If you’re looking for a job that you can do from the comfort of your own home, there are plenty of opportunities in customer service — one of the fastest growing and largest career fields in today’s job market. When you think about it, nearly every company has a need for customer service professionals! In recent… Continue reading “10 companies hiring work-at-home customer service representatives”

Lockheed Martin Names Stephanie C. Hill Senior Vice President, Corporate Strategy and Business Development

BETHESDA, Md., Aug. 30, 2017 /PRNewswire/ — Lockheed Martin (NYSE: LMT) has appointed Stephanie C. Hill, 52, senior vice president for Corporate Strategy and Business Development and a corporate officer effective September 11, 2017. In her new role, Hill will be responsible for global business strategies and overseeing the corporation’s efforts in identifying, assessing, qualifying, and… Continue reading “Lockheed Martin Names Stephanie C. Hill Senior Vice President, Corporate Strategy and Business Development”

Harvey has knocked out a significant portion of the nation’s oil refining capacity

The nation’s biggest oil refinery shut down Wednesday morning as Tropical Storm Harvey continued to hammer the core of the U.S. industry that turns crude oil into gasoline. The Motiva refinery in Port Arthur, Texas, began a “controlled shutdown” at 5 a.m. Wednesday, joining more than a dozen other facilities in Corpus Christi, Beaumont and other… Continue reading “Harvey has knocked out a significant portion of the nation’s oil refining capacity”

Female Entrepreneurs Create Fake Male Cofounder To Avoid Sexism

Penelope Gazin and Kate Dwyer faced the typical onslaught of sexist doubt and criticism when the Los Angeles-based duo set out to launch their own digital marketplace for quirky art. They were often viewed as hobbyists instead of entrepreneurs, even though their business model improved on some of the standards already established by tech industry giants… Continue reading “Female Entrepreneurs Create Fake Male Cofounder To Avoid Sexism”

Analyst says Harvey will cost United Airlines $265 million

United Airlines, which uses Houston’s George Bush Intercontinental Airport as one of its main hubs, will likely see flights decline by 1.5 percent in this quarter due to the impact of Hurricane Harvey, an analyst quoted by Bloomberg reported Tuesday. The loss will amount to about $265 million, according to Helane Becker of Cowen & Company.… Continue reading “Analyst says Harvey will cost United Airlines $265 million”

Warren Buffett Quotes On His 87th Birthday

Warren Buffett, 87, is one of the most successful investors in the United States. He is the chief executive officer, president, and chairman of Berkshire Hathaway. He was named the second richest person in the country and fourth wealthiest in the world by Forbes in August 2017, with an estimated net worth of $76.9 billion. Along… Continue reading “Warren Buffett Quotes On His 87th Birthday”

Domino’s, Ford to test driverless pizza delivery

ANN ARBOR, Mich. — Soon, the pizza you order from Domino’s might show up in a Ford Fusion hybrid without a driver. Domino’s and Ford will begin testing the concept Wednesday in Ann Arbor, where Domino’s is based, to see whether customers like the idea of driverless-car delivery or stumble over what amounts to a self-serve… Continue reading “Domino’s, Ford to test driverless pizza delivery”

Wells Fargo hit with new class-action lawsuit over mortgage lock-in fees

Wells Fargo & Co. is facing another consumer class-action lawsuit, this time alleging that it bilked home loan borrowers by charging them extra fees when their applications were delayed — even when it was the bank’s fault. The new suit, filed Monday in San Francisco federal court, is the latest development in a growing new controversy… Continue reading “Wells Fargo hit with new class-action lawsuit over mortgage lock-in fees”

Trump to kick off tax-cut push with speech devoid of details, White House says

WASHINGTON — President Donald Trump will kick off a weeks-long effort to sell Americans on tax cuts with a speech on Wednesday in Missouri that aides said will not contain any details on a Republican plan that still is being drafted. Trump will use the event at the Loren Cook Co. manufacturing plant in Springfield, Mo.,… Continue reading “Trump to kick off tax-cut push with speech devoid of details, White House says”

Regulators Warn Against Blockchain Hype

The head of the U.S. Securities and Exchange Commission, chairman Jay Clayton, delivered a public statement on Monday slamming companies that leverage the blockchain technology boom for quick profits. He called out the “disturbing” tactics some lawyers use to help cryptocurrency sellers and warned he has “instructed the SEC staff to be on high alert for… Continue reading “Regulators Warn Against Blockchain Hype”

Newly Defanged, Top Consumer Protection Agency Drops Investigation of High-Cost Lender

In 2013, ProPublica published an investigation of the subprime lender World Finance. World was charging annual interest rates that could exceed 200 percent, often trapping customers in cycles of debt by enticing them to renew the loans over and over. In states where laws barred such high rates, the installment lender loaded many loans with nearly… Continue reading “Newly Defanged, Top Consumer Protection Agency Drops Investigation of High-Cost Lender”

Is Apple About to Cancel the iPhone X?

When Apple CEO Tim Cook unveiled the iPhone X last September, he said the $999 device would “set the path of technology for the next decade.” But while its technological credentials may not be in question, a poor reception for Apple’s most expensive iPhone may mean it is forced to step off that path within a… Continue reading “Is Apple About to Cancel the iPhone X?”

Portugal says Brexit has boosted its economy

Portugal is on the up because Brexit is giving it a boost. Economy minister Manuel Caldeira Cabral says although the UK’s departure is not good for Europe, more shared services are looking at Lisbon and beyond to place their activity, and that’s been positive for the jobs market. MANUEL CALDEIRA CABRAL, PORTUGAL’S ECONOMY MINISTER, IN DAVOS:… Continue reading “Portugal says Brexit has boosted its economy”

Report: Bank of America ends free checking for low-balance customers

Bank of America recently switched the accounts of customers using its free online-only checking account to one with a $12 monthly fee, according to the Wall Street Journal. The Charlotte, North Carolina-based bank, which began converting the popular eBanking accounts as early as 2015, is now charging those customers the fee if they don’t maintain at… Continue reading “Report: Bank of America ends free checking for low-balance customers”

Rupert Murdoch says Facebook should pay for ‘trusted’ news

Media tycoon Rupert Murdoch said Monday that large online platforms like Facebook should pay “trusted” news organizations as part of efforts to improve credibility and stem misinformation. In a statement issued by his News Corp, the publishing unit which includes newspapers in the United States, Britain and Australia, Murdoch offered up his idea as a way… Continue reading “Rupert Murdoch says Facebook should pay for ‘trusted’ news”

Puerto Rico Can’t Afford a Foreclosure Crisis

Two days after Hurricane María passed through Puerto Rico, I was able to get in a car and begin what would be the daily task for the next couple of weeks of looking for water and gas. As I stepped outside, I realized that this would not be as with other hurricanes that I had experienced… Continue reading “Puerto Rico Can’t Afford a Foreclosure Crisis”

Philippines retains EU export perks despite ‘extrajudicial killings’

The Philippines Tuesday hailed the retention of duty-free privileges for most of its exports to the European Union despite concerns over alleged “extrajudicial killings” in President Rodrigo Duterte’s war on drugs. The European Commission announced on Monday that Philippine shipments worth an estimated 120 billion pesos ($2.35 billion), about 66 percent of annual exports to its… Continue reading “Philippines retains EU export perks despite ‘extrajudicial killings’”

Trump in Davos will sell ‘America first’ economics

President Trump is headed Wednesday to the World Economic Forum in Davos, Switzerland, to tout the success of his “America first” agenda wrangle investment in the U.S. said White House officials. “We are going to the World Economy Forum to tell the present’s story and tell the world that America is open for business,” said Gary… Continue reading “Trump in Davos will sell ‘America first’ economics”

N.J.-based Johnson & Johnson posts $10.7B loss after U.S. tax change

Johnson & Johnson posted a rare quarterly loss, a whopping $10.71 billion, due to a $13.6 billion charge related to the recent U.S. tax overhaul. The health care giant on Tuesday also reported sharply higher spending on production, marketing, administration and research, offsetting a big jump in sales. The $13.6 billion charge is for a tax… Continue reading “N.J.-based Johnson & Johnson posts $10.7B loss after U.S. tax change”

Trump wins Davos raves for ‘landmark’ tax cut

Instead of a chilly reception from globalisation’s defenders, US President Donald Trump may find a warm welcome in the posh ski resort of Davos, from global executives delighted with his controversial tax reform. The annual World Economic Forum in the snow-bound Swiss resort is a bastion of globalisation and expectations were high that Trump’s presence, set… Continue reading “Trump wins Davos raves for ‘landmark’ tax cut”

Policymakers continue to subsidize increases in college costs instead of dealing with rising student

You can’t put a price on education, the saying goes, but if you did, it would be very high. And the cost falls on everyone. Indeed, our economy is hampered by a two-pronged higher education problem: Collectively, Americans have racked up some $1.4 trillion in outstanding student loan debt. At the same time, that debt has… Continue reading “Policymakers continue to subsidize increases in college costs instead of dealing with rising student”

Stark choice for Britain: invest in army or face Russian attack

Britain’s army chief has warned that a lack of investment could jeopardise the country’s ability to withstand attack from Russia. The intervention by General Sir Nick Carter was unprecedented: normally military chiefs keep their heads well below the political parapet. It is understood that he spoke with the support of UK Defence Secretary, Gavin Williamson ,… Continue reading “Stark choice for Britain: invest in army or face Russian attack”

Richest one percent made 82% of wealth created last year: Oxfam

The world’s richest one percent raked in 82 percent of the wealth created last year while the poorest half of the population received none, Oxfam said Monday, as the world’s elite prepared to mingle at the World Economic Forum in Davos. A new report from the charity also found that the wealth of billionaires has grown… Continue reading “Richest one percent made 82% of wealth created last year: Oxfam”

Scott Jordan, SCOTTeVEST founder, says company markets to Fox viewers because they’re ‘f-ing idiots’

SCOTTeVEST founder Scott Jordan was rebuked by his own clothing company after he posted on Facebook last weekend that Fox News viewers are “f—ing idiots.” Mr. Jordan co-founded SCOTTeVEST with his wife in 2000, selling a line of multi-pocketed “eVests” designed for consumers to carry multiple gadgets. He failed to clinch a deal on ABC’s Shark… Continue reading “Scott Jordan, SCOTTeVEST founder, says company markets to Fox viewers because they’re ‘f-ing idiots’”

Trudeau takes shot at Trump protectionism at Davos forum

Canadian Prime Minister Justin Trudeau criticised the protectionist policies of US President Donald Trump at the World Economic Forum in Davos on Tuesday while fervently defending the virtues of free trade. In a speech alluding to Trump and his threat to pull the United States out of the North American Free Trade Agreement, Trudeau said his… Continue reading “Trudeau takes shot at Trump protectionism at Davos forum”

Philippine economy grows 6.7 percent in 2017

The Philippine economy grew 6.7 percent in 2017, remaining one of Asia’s best performers despite a weaker business process outsourcing industry, the government announced Tuesday. Government spending ensured the country remained one of Asia’s fastest-growing major economies, behind only China and Vietnam, Economic Planning Secretary Ernesto Pernia told reporters. However he said last year’s growth was… Continue reading “Philippine economy grows 6.7 percent in 2017”

World’s richest get 82 percent of global wealth: Oxfam

Half of the world’s population received no share of all wealth created globally last year, while 82 percent went to the richest one percent, a report by Oxfam International revealed. Billionaires in 2017 increased their wealth by $762bn, enough to end “global extreme poverty seven times over”, the UK-based charity’s annual inequality report, published on Monday,… Continue reading “World’s richest get 82 percent of global wealth: Oxfam”

Bank of America faces backlash for eliminating free checking account

CHARLOTTE, N.C — Bank of America is facing a backlash over eliminating a free checking account and moving customers into accounts with minimum monthly balance requirements. This month marks the completion of a years-long phase-out of the eBanking account, which didn’t charge a monthly maintenance fee as long as customers received paperless statements and didn’t use… Continue reading “Bank of America faces backlash for eliminating free checking account”

Report: Wealthy Earned Enough to End Poverty in 2017

Last year, the world’s billionaires made over $462 billion combined, enough money to end extreme poverty around the globe seven times over. With a new billionaire added to the list nearly every two days, wealth inequality widened, according to a new report from Oxfam. Forty-two of the richest people in the world now hold as much… Continue reading “Report: Wealthy Earned Enough to End Poverty in 2017”

Brexit special trade agreement possible: Macron

French President Emmanuel Macron said a special post-Brexit trade agreement between Britain and the EU was certainly possible but would not involve full access to the single market, in a BBC interview to be screened Sunday. Macron, who met British Prime Minister Theresa May for talks on Thursday, said there could not be complete single market… Continue reading “Brexit special trade agreement possible: Macron”

U.S. Expected to be World’s Top Oil Producer

The United States is expected to take over Saudi Arabia and even rival Russia as the world’s leading energy producer, the International Energy Agency said on Friday. “This year promises to be a record-setting one for the U.S.,” said the Paris-based global energy watchdog in their widely anticipated monthly report. U.S. crude oil production is averaged… Continue reading “U.S. Expected to be World’s Top Oil Producer”

Bonds to get by without a little help from central banks

The rebound of global growth is sounding the death knell for easy money, so debt markets should see the backs of central banks in 2018, although a gradual withdrawal should help avoid a new tantrum sending interest rates spiking. The colossal sums that central banks injected into the financial systems to ward off economic cataclysm went… Continue reading “Bonds to get by without a little help from central banks”

Deutsche Bank Finds Kushner ‘Suspicious Transactions’

A German bank reportedly has evidence of “suspicious transactions” related to Jared Kushner’s family accounts and is willing to hand the information over to Russia probe special counsel Robert Mueller. The board chairman of the banking giant Deutsche Bank, Paul Achleitner, called for an internal investigation and found troubling results, German business magazine Manager Magazin reported… Continue reading “Deutsche Bank Finds Kushner ‘Suspicious Transactions’”

China’s waste import ban upends global recycling industry

For years China was the world’s top destination for recyclable trash, but a ban on certain imports has left nations scrambling to find new dumping grounds for growing piles of garbage. The decision was announced in July and came into force on January 1, giving companies from Europe to the United States barely six months to… Continue reading “China’s waste import ban upends global recycling industry”

Armani Beauty opens new Tmall store in e-commerce push

L’Oreal-owned cosmetics giant shifts focus to Alibaba e-commerce platform to try and broaden its consumer base and reach young, tech-savvy shoppers Giorgio Armani Beauty launched its flagship store on Alibaba’s Tmall shopping platform on Dec 25 last year, as part of the brand’s ongoing efforts to tap into China’s fast-growing demand for high-end beauty products. The… Continue reading “Armani Beauty opens new Tmall store in e-commerce push”

Partial US Government Shutdown Continues for Second Day

The U.S. government stayed partially shut down Sunday for a second day, with no immediate end in sight to the stalemate between Republican and Democratic lawmakers over federal spending and immigration issues. U.S. President Donald Trump pressured Congress to resolve the standoff, suggesting on Twitter that if it continues, Senate Republicans should abandon the long-standing supermajority… Continue reading “Partial US Government Shutdown Continues for Second Day”

A bank account linked to Jared Kushner was reportedly flagged for “suspicious” activity

A German business magazine, Manager Magazin, reported that a bank account linked to President Donald Trump’s son-in-law and aide Jared Kushner has been flagged for “suspicious” transactions. The magazine reported that Deutsche Bank has evidence that an account linked to Kushner or “related companies or persons in their business” may have directed “suspicious money” through the… Continue reading “A bank account linked to Jared Kushner was reportedly flagged for “suspicious” activity”

NYC ‘congestion pricing’ could smack drivers with steep tolls

NEW YORK — Motorists would have to shell out $11.52 to drive into the busiest parts of Manhattan under a new proposal floated by Gov. Andrew Cuomo to ease traffic congestion and raise vital funds for mass transit. Trucks would pay even more — $25.34 — while taxi cabs, Uber rides and for-hire vehicles would be… Continue reading “NYC ‘congestion pricing’ could smack drivers with steep tolls”

Chinese, Russians shore up Middle East tourism

Chinese and Russian visitors boosted Middle Eastern tourism last year following a 2016 slump as Europeans gave the area a wide berth on security fears, according to the World Tourism Organization (WTO). The Mideast region as a whole drew 58 million foreign tourists in 2017 — a 4.8 percent rise on the previous year — the… Continue reading “Chinese, Russians shore up Middle East tourism”

AI, virtual reality make inroads in tourism sector

A hotel room automatically adjusting to the tastes of each guest, virtual reality headsets as brochures: the tourism sector is starting to embrace new technologies, hoping to benefit from lucrative personal data. In a prototype of the hotel of the future on display at Madrid’s Fitur tourism fair, receptionists have disappeared and customers are checked-in via… Continue reading “AI, virtual reality make inroads in tourism sector”

Yemen government announces budget after three-year hiatus

Yemen’s cash-strapped government on Sunday released its first official budget since the Huthi rebels overran the capital Sanaa in 2014 and following a bailout from ally Saudi Arabia. Prime Minister Ahmed bin Dagher said spending in the 2018 budget is projected at 1.5 trillion Yemeni riyals ($3.9 billion), with revenues estimated at 978 billion riyals ($2.6… Continue reading “Yemen government announces budget after three-year hiatus”