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Finance

Elon Musk has survived a bid to strip him of a key role at Tesla as shareholders re-elected three directors to the electric vehicle maker's board. Musk, who has insisted the company will not need to raise money this year, has also come under fire for his behavior during an earnings conference call last month, in which he cut off analysts posing financial queries, rejecting them as "boring, bonehead questions".
  • Markets Right Now: Italy gridlock shakes up global markets

    Markets Right Now: Italy gridlock shakes up global markets

    Finance

    SPX lost 31.47 points, or 1.16 percent, to 2,689.86 and the Nasdaq Composite . IXIC dropped 37.26 points, or 0.5 percent, to 7,396.59. Britain's FTSE 100 sank 1.2 percent and the French CAC 40 slumped 1.2 percent. Gold and platinum producer Anglo American traded 2.76% higher at 1,846.60 while Rio Tinto , Glencore and Chilean miner Antofagasta were also among the top ten movers higher.
  • Starbucks chairman to step down at end of June

    Starbucks chairman to step down at end of June

    Finance

    Schultz signed his announcement "Onward with love, Howard". After stepping down as CEO in 2017, he remained on as executive chairman. And John Culver took on the role of group president of Starbucks Global Retail. In the years following his return to Seattle, Schultz purchased Starbucks with the support of local investors and dedicated his career to bringing his vision of a modern coffee house to life in America and around the world.
  • IOS 12 announced with focus on improved performance

    Finance

    Apple has announced that multiple users can now integrate augmented reality apps together with multiple iOS devices . A new app called Measure was also introduced, which lets users measure real-life objects with their smart device . Three of Apple's iconic, and rarely updated , apps have seen big changes in iOS 12. iBooks, for example, is now Apple Books. Screen Time: A new app that provides daily reports on how much time you are spending on your apps, what apps are sending you the ...
  • China issues statement on Sino-US trade talks

    China issues statement on Sino-US trade talks

    Finance

    But in a surprise move last Tuesday, the White House said it would proceed with imposing tariffs on US$50 billion (S$66.9 billion) worth of imported Chinese goods, with the final list to be announced on June 15. Navarro later called Mnuchin's conciliatory comments "an unfortunate soundbite". Ross left Beijing for Washington early Sunday evening. The U.S. "needs to choose between tariffs and exporting more to China".
  • Google won't renew Pentagon contract to use AI

    Google won't renew Pentagon contract to use AI

    Finance

    Google has not committed to forego signing other military contracts dealing with artificial intelligence. About a dozen employees resigned in protest . Gizmodo reviewed internal emails that showed executives viewed Project Maven as an exciting opportunity to expand its work with the military, but wanted to keep the project under wraps because of concern about how it would impact the company's brand image.
  • Thousands of Jordanians protest government's austerity plan

    Thousands of Jordanians protest government's austerity plan

    Finance

    They also protested the government's draft income tax law, which aims to increase paycheck taxes by at least 5% and on businesses by between 20% and 40%. At this stage, they are considering meeting more demands by the protesters, and it is possible the king will order the formation of a new government and elect a new parliament.
  • Two Massive Winning Lotto Tickets Sold in Brampton

    Two Massive Winning Lotto Tickets Sold in Brampton

    Finance

    The other two winners on that ticket are from Ontario and Quebec. According to the National Lottery, there was one victor of the €4.325m jackpot. Since its launch in September 2009, Ontario Lotto Max players have won over $4.1 billion, including 57 jackpot wins and 431 Maxmillions prizes, right across the province.
  • United States citizen killed in Nicaragua amid unrest

    United States citizen killed in Nicaragua amid unrest

    Finance

    The Nicaraguan Bishops' Conference aborted its attempt to mediate the conflict after the deadly crackdown on Wednesday's march, saying dialogue was impossible as long as "the people continue to be repressed and killed" by "groups close to the government".
  • The price of a private lunch with Warren Buffett: $3.3M

    The price of a private lunch with Warren Buffett: $3.3M

    Finance

    Last year's winning bid was $2,679,001 , and the record was $3,456,789, set in 2016 . The victor wasn't immediately identified by organizers. Buffett's annual online auction is underway to benefit the Glide Foundation's work helping the homeless in San Francisco.
  • Merkel offers Macron concessions on eurozone reforms

    Merkel offers Macron concessions on eurozone reforms

    Finance

    Although Merkel's budget target falls short of the range proposed by Macron, it represents a concession of sorts to his view that excessive austerity has undermined faith in the bloc. Merkel backed the step-by-step introduction of a euro zone investment budget in the low double-digit billions of euros, saying this could be housed within the European Union budget or outside.
  • All of a sudden. Microsoft is now worth more than Google

    All of a sudden. Microsoft is now worth more than Google

    Finance

    Microsoft is now more valuable than Google and its listed parent company, Alphabet . While Microsoft still sits behind Amazon which is now valued at $782 and, of course , Apple with its staggeringly high market cap of $923, the company still diversifies itself enough to remain competitive.
  • Pipeline protesters are getting clever with the Trans Mountain court injunction

    Pipeline protesters are getting clever with the Trans Mountain court injunction

    Finance

    Notley said she is confident the project will be seen as an attractive and profitable venture once it is built, as did Federal Infrastructure Amarjeet Sohi during a Wednesday visit to Fort McMurray. All they needed was clarity and certainty from the government so they could get construction underway. While he didn't elaborate on what that actually means, his comment suggests the Trans Mountain Expansion is not moving forward anytime soon.
  • New Italian govt vows to create jobs, deport migrants

    New Italian govt vows to create jobs, deport migrants

    Finance

    Mr Conte will head a government made up of ministers from the anti-establishment Five Star Movement and the far-right League Party, with the coalition raising concerns in some European quarters. The government is backed by the populist 5-Star Movement and the right-wing League. The handover of power follows an inconclusive March election and months of political turmoil which had spooked global financial markets and spread unease among Italy's European Union partners.
  • The Unemployment Rate Is The Lowest It's Been Since April 2000

    The Unemployment Rate Is The Lowest It's Been Since April 2000

    Finance

    Earlier in the week, it threatened to hit China with tariffs on $50 billion of its goods. The report shows that the almost 9-year-old economic expansion - the second-longest on record - remains on track and may even be gaining steam. Last May the black unemployment rate was 7.6%. The unemployment rate, rounded to one decimal, is the lowest since April 2000. Gapen believes the unemployment rate could sink as low as 3 percent by the end of 2019.
  • Moscow to enter Alibaba global logistics network

    Moscow to enter Alibaba global logistics network

    Finance

    Alibaba claims that its logistics affiliate, Cainiao Network has reduced cross-border shipping time to less than 10 days for some countries along with same-day and next-day deliveries within China and over 1,500 other counties and districts.
  • Dog found dead in carrier during Delta layover near Detroit

    Dog found dead in carrier during Delta layover near Detroit

    Finance

    The lawyer for the family, Evan Oshan, tells us. from what he knows Delta has been pushing people to put their dogs in the cargo hold rather than the cabin, presumably because there are so many service dogs on board these days the passenger areas resemble a kennel.
  • China warns United States no deal if tariffs go ahead

    China warns United States no deal if tariffs go ahead

    Finance

    A short statement, carried by the official Xinhua news agency, made no mention of any specific new agreements after United States commerce secretary Wilbur Ross met Chinese vice premier Liu He. Some people familiar with the matter have told Reuters that approval may depend on progress of broader talks and a reprieve from a USA government ban on sales by US companies to China's ZTE Corp, penalised for illegally supplying telecommunications gear to Iran and North Korea.
  • Google won't renew controversial drone project with Pentagon amid employee backlash

    Google won't renew controversial drone project with Pentagon amid employee backlash

    Finance

    Google would not choose to pursue Maven today because the backlash has been bad for the company, Greene said , adding that the decision was made at a time when Google was more aggressively pursuing military work. According to the emails, Google executives saw Maven as a way to pave the way for even larger contracts down the road. Google, which has maintained a close relationship with the Defense Innovation Board through former Alphabet Chair Eric Schmidt, who serves on the board, ...
  • ACCC to lay criminal cartel charges against ANZ

    ACCC to lay criminal cartel charges against ANZ

    Finance

    The lender said the Commonwealth Director of Public Prosecutions will launch proceedings related to how investment banks handled the sale of 80.8 million ANZ shares to institutional buyers in 2015. The joint underwriters allegedly reached an understanding on the disposal of shares, prompting the cartel criminal charges, Citigroup (C.N) said on Friday.
  • Plane forced to make emergency landing over one passenger's

    Plane forced to make emergency landing over one passenger's "unbearable" body odour

    Finance

    Van Haut explained to Belgian news website VRT: "It was a huge stench..." But it made an unexpected stop at Faro airport in Portugal about halfway through its journey, as shown by records on the FlightRadar24 tracking website. The culprit may have left, but his influence lingered. The flight continued after the stinky man's removal, but the odor inside the plane lingered.
  • Australians will no longer be able to buy from Amazon worldwide sites

    Australians will no longer be able to buy from Amazon worldwide sites

    Finance

    Both eBay and Amazon previously indicated that they may have to block Australian buyers due to the changes - and Amazon today confirmed that it would redirect Australian customers from its worldwide sites to Amazon.com.au. Amazon says its Australian unit offers 60 million products in 23 categories, compared to the more half a billion products on its USA site. In the aim of compensating its regional customer base, Amazon has said that it will introduce four million new items to its range.
  • Deutsche Bank gets ECB, key investor support as S&P questions strategy

    Deutsche Bank gets ECB, key investor support as S&P questions strategy

    Finance

    A source familiar with the thinking of the European Central Bank, which regulates Deutsche Bank , and its top shareholder HNA Group of China, said they backed the management's strategy of retrenchment. The stock decreased 4.24% or $0.49 during the last trading session, hitting $11.08. Deutsche Bank Aktiengesellschaft is downtrending after having declined 36.07% since June 1, 2017.
  • No one bids for Air India

    No one bids for Air India

    Finance

    IndiGo backed out because it only wants to buy Air India's global operations - an option the government didn't offer. The deadline to buy a 76% stake in the airline had already been extended once from May 14 to May 31. Air India, at the time of putting its business on sale, made it clear that victor should not merge the airline with an existing business as long as government holds a stake in it.
  • Another Alberta multi-million dollar lottery victor

    Finance

    Two tickets sold in the Sault Ste. The victor will have their choice of $1,000 a day for life, or $7 million. The BCLC conducts an extensive prize claim process for all lottery jackpot winners, which includes the conditions that the victor must consent to the BCLC publishing his or her's name, photo, place of residence and prize.
  • B.C.’s minimum wage increasing to $12.65/hour on June 1st

    B.C.’s minimum wage increasing to $12.65/hour on June 1st

    Finance

    The Fair Work Commission has chose to raise the federal minimum wage by $24.30, to $719.20 per week, the biggest increase to the wage in years. The Australian Council of Trade Unions had been pushing for a $50 a week rise to $744.90, equivalent to 7.2 per cent.
  • USA and Brent crude prices diverge further

    USA and Brent crude prices diverge further

    Finance

    Brent crude LCOc1, which was little changed in the previous session, added 17 cents, or 0.2 percent, to $77.73 per barrel. Global oil markets have been roiled by a surprising divergence between the world's major benchmarks, Brent crude and its US counterpart, which in recent days have traded at odds with one another, wrongfooting investors betting on the exact opposite.
  • GM surging after SoftBank announces $2.25 billion investment in Cruise

    GM surging after SoftBank announces $2.25 billion investment in Cruise

    Finance

    It gives GM funds for wide-scale deployment of self-driving cars, which GM aims to roll out next year. GM will also invest $1.1 billion in its self-driving business as part of the deal. Cruise is set to receive an initial tranche of $900 million when SoftBank's investment formally closes. The announcement sparked a rally in GM shares, which jumped 11.5 per cent to Dollars 42.16 in pre-market trading.
  • UK FCA Proposes Changes To High-Cost Credit Market

    UK FCA Proposes Changes To High-Cost Credit Market

    Finance

    Further, it's also consulting on whether to ban the sale of extended warranties at the point of sale, helping to save consumers almost £8m a year. FCS chief executive Andrew Bailey said: "High-cost credit is used by over three million consumers in the United Kingdom, some of whom are the most vulnerable".
  • Rail operator Northern to temporarily cut services

    Rail operator Northern to temporarily cut services

    Finance

    David Brown, managing director of Northern, said: "Our plans for modernisation are not all being delivered in the way we want". "Meanwhile my members, working at the sharp end of the cancelled and delayed services, are bearing the brunt of the public anger without a shred of support from Govia, Arriva or the Department of Transport ", he said.
  • Qantas in codeshare deal with Air New Zealand | Air Cargo

    Qantas in codeshare deal with Air New Zealand | Air Cargo

    Finance

    The partnership between Qantas and Air New Zealand will provide customers of the companies with shorter connection times, allowing for faster more efficient travel. Proposed Qantas codeshare routes in New Zealand. In 2006, the two airlines attempted a code-sharing arrangement on trans-Tasman flights. "Our relationship with Air New Zealand goes back nearly 80 years".
  • Sears to close another 72 stores amid plunging sales

    Sears to close another 72 stores amid plunging sales

    Finance

    No North Carolina stores were named among the group of closures this time, according to a list the company released Thursday afternoon. After the 72 store closings, Sears will have 822 Kmart and Sears stores in operation. The company that survived two world wars is now struggling to compete with big-box stores like Target and Walmart and online retailers such as Amazon .
  • Jeep and Ram focus of Fiat Chrysler Automobiles five-year plan

    Jeep and Ram focus of Fiat Chrysler Automobiles five-year plan

    Finance

    The 65-year-old Italian-Canadian manager is famous for unfailingly wearing navy blue cashmere sweaters and never a tie, no matter the event. Marchionne said he didn't mean to be disrespectful to the two American brands, but pointed out that the others, including Ram and Maserati , will account for a combined 80 percent of worldwide sales in the coming years, so Dodge and Chrysler's contribution would be largely insignificant to the company's overall financial forecast.
  • MSCI Could Cap Brazil, India Weights in EM Indexes

    MSCI Could Cap Brazil, India Weights in EM Indexes

    Finance

    Domestic China A-shares have been added to MSCI regional indices for the first time today after the market was opened up to foreign investors. Chia says that if full inclusion of the 3,000+ A-shares companies were to happen, China could account for 42% of the index, with A-shares alone accounting for 16%.
  • Google draws up guidelines for its military AI following employee fury

    Finance

    Google Cloud CEO Diane Greene reportedly announced the decision on Friday during a weekly internal meeting. Greene, according to the report , said the company was reversing its decision to aid the government due to backlash. Google declined to comment for this story. More than 700 Google employees had joined an online group inside the company called Maven Conscientious Objectors, using it to vent their concerns about the project and discuss ways of protesting against it.
  • Donald Trump's preview of jobless report draws criticism

    Donald Trump's preview of jobless report draws criticism

    Finance

    The Trump administration is examining ways USA industries could hire more immigrant workers on a temporary basis, White House economic adviser Larry Kudlow said on Friday, as data showed the United States unemployment rate at an 18-year low.
  • Hotel valet cut out of Porsche after botched parking job in Sydney

    Hotel valet cut out of Porsche after botched parking job in Sydney

    Finance

    He was offered the rest of the day off and the hotel is investigating what caused the incident. If you think you had a tough morning at work, spare a thought for this hotel valet in Sydney. The authorities had to cut the driver out of the auto as a crowd watched during morning rush hour, the Australian Broadcasting Corporation ( ABC ) online said.
  • Spanish PM To Be Ousted In

    Spanish PM To Be Ousted In "No Confidence" Vote

    Finance

    Spanish Prime Minister-elect Pedro Sanchez has begun the task of harnessing the unlikely forces that brought him to power. The Socialist party leader, Mr Rajoy's arch-rival who called for the vote, is poised to take over as prime minister.