Money

US’ Mnuchin, Lighthizer to hold talks next week in China, sources say

US’ Mnuchin, Lighthizer to hold talks next week in China, sources say It added that Asian countries are likely to suffer the greatest impact. If they fail to reach an agreement before the deadline, the United States has threatened to hike tariffs on $200 billion of Chinese goods from 10% to 25%. The study indicates that European Union would be the victor, capturing around $70bn of new exports. US-China Trade War "Most Stupid Thing Ever", Says Alibaba Chief Jack Ma ... [Full Article...]

Canadian retailer Sunrise Records buys HMV stores

Canadian retailer Sunrise Records buys HMV stores But 27 locations, employing some 455, will be out of a job. Doug Putman, CEO of Sunrise Records, said: "We are delighted to acquire the most iconic music and entertainment business in the United Kingdom and add almost 1,500 employees to our growing team". [Full Article...]

White House announces State of the Union guests

White House announces State of the Union guests So the president shut down the government. The speech was delayed for a week because of the shutdown that ended on January 25. "It's that alternative. Still, the fact that Mr Trump's advisers feel a need to try a different approach is a tacit acknowledgement that the president's standing is weakened as he begins his third year in office. [Full Article...]

Alphabet Earnings: Google Cost Per Click Declined 29% 02/05/2019

Alphabet Earnings: Google Cost Per Click Declined 29% 02/05/2019 Facebook Inc. showed that last week by reporting a 30 percent jump in fourth-quarter revenue from a year earlier. The fees that Alphabet pays to companies like Apple for Google to be their default search engine rose to $7.4bn up from $6.6bn for the same period previous year. [Full Article...]

Crypto trader boss dies with password to clients’ £110m

Crypto trader boss dies with password to clients’ £110m Gerald Cotten, 30, died of complications with Crohn's disease while doing philanthropic work in India in early December, according to a post on QuadrigaCX's Facebook page. Discussion boards on Reddit are peppered with skeptical comments about the company's efforts to work out its issues, and some users say they have upward of $80,000 or $100,000 that has been locked away from them. [Full Article...]

Elon Musk shares first test firing of SpaceX's Raptor flight engine

Elon Musk shares first test firing of SpaceX's Raptor flight engine The Starship is the craft that is created to transport people across the Earth in hours and eventually carry humans to Mars. SpaceX just took another step toward Mars. The first rocket firing happened right around 1AM Central Time on the morning of Sunday, February 3rd, 2019. Once testing in McGregor is complete, the Raptor will be shipped to the South Texas site to be installed on the St... [Full Article...]

GM to lay off about 4000 salaried workers

GM to lay off about 4000 salaried workers The automaker announced cuts in November, including the closure of its Oshawa, Ont., plant, in a move expected to save the GM billions of dollars and help it prepare for an expected slowdown of the US automotive market during the next several years. [Full Article...]

Britain's Theresa May says she will seek 'pragmatic solution' to Brexit deal

Britain's Theresa May says she will seek 'pragmatic solution' to Brexit deal She promised to return to Brussels with renewed commitment and "new ideas" to deliver a deal. British Prime Minister Theresa May has repeatedly reiterated London's push to stop the formation of a hard border between Northern Ireland and the Republic of Ireland after Brexit. [Full Article...]

Foxconn U-turns on $10bn Wisconsin factory after call with Trump

Foxconn U-turns on $10bn Wisconsin factory after call with Trump Some in the state have blamed Evers for the alleged shifting of Foxconn's plan. "Foxconn continues to move forward in Wisconsin!" he said. Foxconn, which makes devices and components for a host of major tech firms including Apple Inc, had planned to build a factory producing LCD flat screen televisions and create about 13,000 jobs. [Full Article...]

U.S. employers add robust 304K jobs; joblessness up to 4%

U.S. employers add robust 304K jobs; joblessness up to 4% Interested in Jobs Report? The furloughed federal workers were still on the payroll that day, even though they were not getting paid. Just over 55,000 federal employees filed jobless claims during the shutdown , but those employees will have to pay back any benefits after receiving backpay from the government opening back up. [Full Article...]

Amazon Products Perform Vanishing Act as New India E-Commerce Rules Jolt

Amazon Products Perform Vanishing Act as New India E-Commerce Rules Jolt The rules will reportedly play as a major advantage for small retailers who have been longing for tougher competition rules, considering how their biggest competitors Amazon and Flipkart had an unfair advantage. Amazon India , for example, may have to sell its stake in sellers such as Cloudtail and Appario, which form a majority of Amazon's sales in India, once the new rules are implem... [Full Article...]

PG&E files for bankruptcy

PG&E files for bankruptcy PG&E's demise serves to underscore the increasing vulnerability utilities face to natural disasters such as wildfires and hurricanes that are becoming more extreme. "Throughout this process, we are fully committed to enhancing our wildfire safety efforts, as well as helping restoration and rebuilding efforts across the communities impacted by the devastating Northern California wildfires", PG&E in... [Full Article...]

Chinese National Arrested for Stealing Apple's Trade Secrets

Chinese National Arrested for Stealing Apple's Trade Secrets Investigations by Apple revealed that Chen had applied to two jobs outside the iPhone giant, including one with a Chinese self-driving vehicle company. Chen is the second Chinese national to be charged with stealing Apple trade secrets in recent months. According to CNBC , Chen told Apple he started backing up his work files on his personal computer as an "insurance policy", after he had been p... [Full Article...]

Facebook's profit reached a record $6.9 billion last quarter

Facebook's profit reached a record $6.9 billion last quarter Daily and monthly active users were each up 9% year-on-year to 1.52 billion and 2.32 billion respectively in December. Facebook executives warned that expenses this year are expected to soar 40 to 50 per cent as it continues to invest in data centers, new products, and security. [Full Article...]

Amazon Revenues Climb 20 Percent to $72.4 Billion

Amazon Revenues Climb 20 Percent to $72.4 Billion For the full 2018 fiscal year, Amazon reported a net sales increase of 31 percent to $232.9 billion, up from $177.9 billion in 2017. Colin Sebastian , an analyst at Baird Equity Research, said, "The issues in India are taking a toll on the Q1 outlook, even as growth overall slows domestically". [Full Article...]

Tesla's surprise CFO exit may add fuel to 'conspiracy theories'

Tesla's surprise CFO exit may add fuel to 'conspiracy theories' In 2018, according to Tesla's Shareholder Letter , "Model 3 then went on to become the best-selling passenger vehicle in the U.S. in terms of revenue in both Q3 and Q4". Improvements also include making it easier for customers to make appointments via Tesla's app and real-time deployment of service vehicles. "If the auto detects a flat tire or equipment failure, there is a tow truck or loader o... [Full Article...]

Please turn down thermostat due to fire, high demand

Please turn down thermostat due to fire, high demand In a live Facebook video, CMS Energy CEO Patti Poppe thanked companies for the cutbacks but also urged 1.8 million non-corporate MI customers to use as little natural gas as possible so that places like hospitals and nursing homes would not be without power. [Full Article...]

Volkswagen Beach Buggy is being resurrected as an electric concept

Volkswagen Beach Buggy is being resurrected as an electric concept Taking its cues from popular American dune buggies, the concept vehicle is based on the modular electric drive matrix (MEB), demonstrating how multifaceted the new platform is. The ID's characteristic circular LED headlights are present along with massive knobby wheels. "A buggy is more than a vehicle", said Klaus Bischoff , head designer at Volkswagen . [Full Article...]

Microsoft's Azure revenue growth slows, shares fall

Microsoft's Azure revenue growth slows, shares fall Microsoft's cloud services, led by products like Azure and Office 365, have been growing in double digits as more businesses eliminate the costs of maintaining their own servers by moving their technical operations to the cloud. In particular, its Azure cloud practically exploded in the quarter with revenue growth of 76 percent. Here's the operating income breakdown. Windows simply isn't the uni... [Full Article...]

Wall Street climbs on Apple, Boeing results; Fed decision eyed

Wall Street climbs on Apple, Boeing results; Fed decision eyed In the commodity markets, industrial metals were up and oil rose for a third day, pushed up by lower imports into the United States amid OPEC efforts to tighten the market, and as Venezuela struggles to keep up its crude exports after Washington imposed sanctions on the nation. [Full Article...]


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