Economy


Tesla announces its next auto factory will be near Berlin
- November 14, 2019

Tesla Inc will build its first European electric vehicle factory in the German capital, Berlin, its Chief Executive Officer Elon Musk said. Musk later tweeted out "Giga Berlin", and said that the location "Will build batteries, powertrains & vehicles, starting with Model Y ". (more...)
Elon Musk says Tesla plans to build next factory near Berlin Elon Musk says Tesla plans to build next factory near Berlin
- November 13, 2019

Assembled in Tesla's new Shanghai Gigafactory, which broke ground in January, the first Model 3 sedans came in blue and were emblazoned with the brand name in Chinese characters. At present, 16 lithium ion battery cell plants are confirmed or due to begin operations in Europe by 2023, underlining the level of competition that Tesla faces in future. (more...)
Alibaba's Singles Day sales hit 31.82 billion breach last years record Alibaba's Singles Day sales hit 31.82 billion breach last years record
- November 13, 2019

In the first one minute and eight seconds, GMV settled through Alipay reached $1.0 billion (RMB 7.0 billion). Analysts however, note that it would be hard for Alibaba to maintain past growth rates forever, and that consumption should remain solid in the future, facilitated by factors including technology and the government's push to encourage domestic consumption as an economic driver. (more...)
Video Shows American Airlines Plane Skidding off Snowy Runway Video Shows American Airlines Plane Skidding off Snowy Runway
- November 12, 2019

The plane was traveling from Greensboro, North Carolina. All passengers and crew members were safely evacuated from the plane which is now sitting in the terminal, according to American Airlines spokesperson Ross Feinstein. Weather conditions at O'Hare at the time of the incident were poor, with light, blowing snow and winds gusting almost 30 miles per hour. The National Weather Service issued a winter weather advisory for parts of Chicago until 3 p.m. (more...)
Trump says no to reducing Chinese tariffs: ASX poised to open higher Trump says no to reducing Chinese tariffs: ASX poised to open higher
- November 12, 2019

The Chinese-ruled city was beset by protests over the weekend after the death of a student who fell from a parking garage while police were trying to disperse crowds the week before. In fact, President Trump poured could water on Friday over (exaggerated?) optimism surrounding the "Phase One" deal with China, stressing that there is still no decision on any roll over existing tariffs. (more...)
Number of billionaires grew by almost 40% over past 5 years Number of billionaires grew by almost 40% over past 5 years
- November 10, 2019

More than £300bn has been wiped off the fortunes of the world's billionaires after a strong dollar and volatile stock markets caused their wealth to shrink for the first time in five years. Taiwanese billionaires' wealth mainly comes from the real-estate, materials, and consumer and retail industries, due to the nation's social-economic environment and policies, PwC Taiwan financial services leader Richard Watanabe (吳偉臺) said at the conference. (more...)
Mzansi plans sponsored wedding for viral couple who got engaged at KFC Mzansi plans sponsored wedding for viral couple who got engaged at KFC
- November 10, 2019

Inspired, no doubt, by a good old love story, South African social media users are rallying behind a couple after a video of their proposal at a KFC outlet went viral. His proposal, around a table complete of Kentucky Fried Chicken was captured and posted to social media. The company has since confirmed that the search is over: "South Africa, you guys are awesome". (more...)
Just a Few of the MANY Veterans Day Freebies Around Missoula Just a Few of the MANY Veterans Day Freebies Around Missoula
- November 10, 2019

In honor of Veterans Day on Monday, November 11, Pluckers will be offering veterans and active-duty military a free meal. Please show proof of service to receive this special discount at participating salons. Free lunch on Monday from 11:00 a.m.to 4:00 p.m. Choose from a 10 entree menu. There are 42,000 veterans in Fort Worth, while neighboring Arlington has a veteran population of 19,000; the cities offer 13 health centers for veterans (in a 50-mile radius), according to the study . (more...)
Bank of England set to hold rates ahead of United Kingdom election Bank of England set to hold rates ahead of United Kingdom election
- November 09, 2019

The Bank of England's Monetary Policy Committee voted 7-2 to hold its bank rate at 0.75 percent Thursday in a rare split decision a little more than a month before December 12 parliamentary elections. "As we think may be the case for other central banks, uncertainties and divisions may mean the ultimate outcome is to stay on hold", HSBC's Simon Wells and Chris Hare wrote. (more...)
Facebook has a new logo Facebook has a new logo
- November 07, 2019

The brand new branding, mainly the corporate title in crisp lettering, might be stamped on its "family" of choices together with WhatsApp , Messenger, Instagram , Oculus, Office, Portal and Calibra, in keeping with chief advertising and marketing officer Antonio Lucio . (more...)
Police believe man was killed over Popeyes chicken sandwich Police believe man was killed over Popeyes chicken sandwich
- November 06, 2019

The squabble spilled into the parking lot outside the packed restaurant where one of the men was stabbed. "What we have since been able to determine.is that this is related to the release of the sandwich here at this restaurant". No, you probably still can't go to Popeyes , order its new chicken sandwich, and obtain said chicken sandwich in a reasonable time frame. "He knows what he did here tonight and he needs to do the right thing and he needs to step up and he needs to turn himself in", ... (more...)
Krispy Kreme tells Minnesota man to stop reselling its donuts Krispy Kreme tells Minnesota man to stop reselling its donuts
- November 06, 2019

So, we are happy to work with Jayson as an independent operator to ensure consistent delivery of our high-quality doughnuts to our fans in Minnesota. The deal also includes a 500-dozen doughnut donation when he starts up again. "I figured it would come eventually, but it arrived early with the surrounding articles", Gonzalez wrote in an October 31 Facebook post on the " Krispy Kreme Run Minnesota " page, which he uses to inform customers of his doughnut hauls. (more...)
Saudi Aramco value in bank research varies by more than $1 trillion Saudi Aramco value in bank research varies by more than $1 trillion
- November 06, 2019

Deeply affected by the oil attacks in September, the oil giant attempting to make a comeback in the market, has announced its intention to float on the domestic exchange. On top of it all, Saudi Aramco's new chairman, Yasir al-Rumayyan, is also in charge of the country's sovereign wealth fund - a dual role that has some prospective stock buyers concerned about company governance, as the wealth fund is the ultimate destination for the IPO sales. (more...)
Chick-fil-A backs Sunday's National Sandwich Day, oops! Chick-fil-A backs Sunday's National Sandwich Day, oops!
- November 04, 2019

The sorely-missed Popeyes chicken sandwich returned Sunday, Nov. 3 and people were acting ridiculous. A week later, Popeyes started a viral feud with Chick-fil-A and other fast food restaurants over who serves the best chicken sandwich. (more...)
Peugeot and Fiat-Chrysler announce merger Peugeot and Fiat-Chrysler announce merger
- November 02, 2019

The combined company would be based in the Netherlands, which is the current headquarters of Fiat Chrysler . Before the merger can be completed, regulators and the shareholders of both parties must still agree. Within a year the German operation was in the black for the first time in two decades. Approximately €3.7 billion in annual run-rate synergies (cost savings) could be derived, they claim. (more...)
Fed cuts rates for 3rd straight time Fed cuts rates for 3rd straight time
- October 31, 2019

Esther George, head of the Kansas City Federal Reserve Bank, and Boston's Eric Rosengren both opposed the latest move, just as they voted against the previous two rate cuts. Fed Chairman Jerome H. Powell will give further guidance on the central bank's thinking at a news conference Wednesday afternoon. Powell and most other Fed officials already credit their rate cuts with lowering mortgage rates, boosting home sales and broadly keeping the economy on track. (more...)
Tesla’s Shanghai Factory Begins Production Ahead of Schedule Tesla’s Shanghai Factory Begins Production Ahead of Schedule
- October 28, 2019

The company also said it was ahead of schedule on its long-awaited Model Y crossover. Tesla late on Wednesday reported a quarterly profit, citing improvements in operating efficiency and a reduction in manufacturing and material costs. (more...)
Era of quantum computers is here as Google attains 'quantum supremacy' Era of quantum computers is here as Google attains 'quantum supremacy'
- October 24, 2019

Google researchers expect that quantum computers within a few years will fuel advancements in fields such as artificial intelligence , materials science and chemistry. As if that wasn't dramatic enough already, Google's paper was then reportedly pulled from a NASA website where it was originally hosted before reappearing in the journal Nature . (more...)
Brexit Setback For Johnson Brexit Setback For Johnson
- October 23, 2019

In a final appeal to lawmakers before a vote on the first stages of his Withdrawal Agreement Bill , Johnson said he had secured a new deal so Britain could move on and discuss issues such as its health service, education and the cost of living. (more...)
Hong Kong protesters defy police, set up roadblocks Hong Kong protesters defy police, set up roadblocks
- October 21, 2019

The demonstrations have been ongoing for five months now, and Sunday's turnout was a test of the movement's strength. "Cases like these raise real concerns about whether Apple and other large USA entities will bow to growing Chinese demands rather than lose access to more than a billion Chinese consumers", said the letter sent Friday and co-signed by senators Marco Rubio and Ron Wyden and representatives Mike Gallagher and Tom Malinowski. (more...)
Johnson faces tough week in Parliament over Brexit deal Johnson faces tough week in Parliament over Brexit deal
- October 21, 2019

The U.K. government warned earlier this year that in a worst-case scenario, a no-deal Brexit could lead to disruptions including long traffic jams at ports, shortages of food and medicines and problems for travelers. He also insisted that he remained committed to leaving the European Union on October 31 and he plans to introduce legislation implementing the deal this week in parliament. (more...)
Chick-fil-A Introduces Dine-In Mobile Ordering Nationwide Chick-fil-A Introduces Dine-In Mobile Ordering Nationwide
- October 21, 2019

Chick-fil-A chairman and CEO Dan Cathy famously spoke out against marriage equality in 2012 and admitted that he backed anti-marriage equality initiatives. We have never donated with the objective of supporting a social or political agenda. "We are represented by more than 145,000 people from different backgrounds and beliefs, and we welcome everyone". (more...)
Brexit Standoff as Boris Johnson Defies MPs' Vote to Delay EU Exit Brexit Standoff as Boris Johnson Defies MPs' Vote to Delay EU Exit
- October 20, 2019

But Johnson has repeatedly said he will not do this and on Saturday he stuck to that line. The letter written by Prime Minister Boris Johnson to MPs saying he will tell the European Union that "further delay is not a solution". At a rare weekend sitting of Parliament, lawmakers voted 322-306 to withhold their approval on the Brexit deal until legislation to implement it has been passed. (more...)
Gold steadies as concerns on Brexit, trade war linger Gold steadies as concerns on Brexit, trade war linger
- October 20, 2019

In early trade, London added 0.1 percent but was weighed by the stronger pound, while Paris eased 0.3 percent and Frankfurt edged 0.1 percent lower. The EUR/USD currency pair was trading at 1.1154 as at 16:46 GMT having rallied from a low of 1.1115. (more...)
Saudi Aramco delays planned IPO until after earnings update Saudi Aramco delays planned IPO until after earnings update
- October 19, 2019

The Financial Times , which initially reported the IPO delay on Thursday, cited a source as saying the listing was delayed by "weeks". This might also well mean a delay until 2020. This time Saudi Arabia opted for an easier route, deciding to start with a local listing only in Riyadh - ditching plans for a sale in London or NY - and enlisting local banks and wealthy families to support the IPO. (more...)
Johnson & Johnson recalls some baby powder after asbestos found Johnson & Johnson recalls some baby powder after asbestos found
- October 19, 2019

Asbestos is often found intertwined with talc. The International Agency for Research on Cancer believes the link between asbestos and mesothelioma to be strong enough to say that it causes cancer. It added that the voluntary recall is out of "an abundance of caution", adding: "Years of testing, including the FDA's own testing on prior occasions - and as recently as last month - found no asbestos". (more...)
China's growth slows in third quarter, weakest in 27 years
- October 19, 2019

Factory output growth slowed to 5.6 percent in the January-September period, down from 6 percent in the first six months of the year. According to recent market data in the last quarter, Beijing saw its growth sink by 6%. Manufacturing is in trouble and the trade war is biting . The drags on demand, both domestic and global, have hit several key parts of the economy, with weakness seen in freight shipments, factory power generation, employment and entertainment spending. (more...)
Volvo XC40 Recharge (with 300 kW) is brand's first electric auto Volvo XC40 Recharge (with 300 kW) is brand's first electric auto
- October 18, 2019

The XC40 Recharge is Volvo's first fully-electric vehicle , and the first auto to appear in the automaker's " Recharge " vehicle line. As for charging, typical Level 1 and Level 2 options will be built in. Hakan Samuelsson, Volvo Car Group CEO, said that this plan will fundamentally change the structure of the company. As early as 2025, half of Volvo's worldwide vehicle sales will be accounted for by electric cars , the rest by hybrid vehicles. (more...)
Turkey-Syria offensive: Welsh Government expresses 'deep concern' Turkey-Syria offensive: Welsh Government expresses 'deep concern'
- October 17, 2019

Vice President Mike Pence said Monday he will lead a delegation to Turkey in the "immediate future" in an effort to end the violence. The 65-year-old's comments were made a day after he was quoted in Turkish media as saying that he would never declare a ceasefire in the region, and was not anxious about reactionary sanctions imposed by the US. (more...)
Les Echos: Renault CEO denounces 'coup' at Renault Les Echos: Renault CEO denounces 'coup' at Renault
- October 12, 2019

According to Reuters, Bolloré has been described as Carlos Ghosn's right-hand man, which the Renault-Nissan Alliance feels it needs to step away from. Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French government influence in the alliance. (more...)
Porsche and Boeing join forces to build electric flying taxi Porsche and Boeing join forces to build electric flying taxi
- October 12, 2019

It what may seem like a shocking move, Porsche announced on Thursday (October 10) it is working on a fully electric flying auto. Porsche and Boeing are now working on a concept for a flying taxi. Steve Nordlund, vice president and general manager of Boeing NeXt , said the collaboration is building on the company's efforts "to develop a safe and efficient new mobility ecosystem". (more...)
Chicken recall due to Listeria contamination expands Chicken recall due to Listeria contamination expands
- October 12, 2019

The recall includes chicken products used at delis at grocery stores. Some of the retailers include Food Lion, Aldi, Giant Supermarket, and Jersey Mike's . "P-17453" inside the USDA mark of inspection. Symptoms of infection include high fever, severe headache, stiffness, nausea, abdominal pain, and diarrhea. (more...)
UAW Strike: General Motors Reportedly Fed Up UAW Strike: General Motors Reportedly Fed Up
- October 12, 2019

GM has reduced its work force to several factories and workers are apprehensive that they could endure the same fate as Lordstown Assembly â € "which never got a replacement for the Chevrolet Cruze and ended up being idled". General Motors Chief Executive Mary Barra stepped in on Wednesday, asking the union to wrap up outstanding issues and respond to a company offer made this week. (more...)
Johnson & Johnson, Risperdal Maker Hit With $8 Billion Verdict Johnson & Johnson, Risperdal Maker Hit With $8 Billion Verdict
- October 10, 2019

In May, a California jury awarded a couple $2.055 billion in compensatory and punitive damages over claims they got cancer from exposure to Bayer AG's Roundup weed-killer. The ruling marks another costly setback for Johnson & Johnson. An Oklahoma judge in August ordered J&J to pay $572.1 million to that state for its part in fueling the opioid crisis by deceptively marketing addictive painkillers, a sum that was substantially less than investors had expected. (more...)
Vans Pulls Pro-Hong Kong Shoe Design, Saying It’s Too Political Vans Pulls Pro-Hong Kong Shoe Design, Saying It’s Too Political
- October 10, 2019

Lam made but it clear on several occasions that you go out that Hong Kong government could handle the situation alone. USA -based analysts and former officials have seized on the more recent developments involving Apple and Hong Kong . (more...)
Farming industry dismayed at updated no-deal tariffs Farming industry dismayed at updated no-deal tariffs
- October 09, 2019

Boris Johnson's new Government is "now adrift without any effective fiscal anchor" and will break its budget rules in its first full year, the Institute for Fiscal Studies said. The spokesperson added: "Beyond that, the chancellor has already said that we will be reviewing the fiscal framework as we turn the page on austerity". (more...)
Pizza Express 'hires financial advisers' ahead of crunch talks about crippling debt Pizza Express 'hires financial advisers' ahead of crunch talks about crippling debt
- October 08, 2019

Plus, Bloomberg adds that the group's accounts at the end of past year reportedly show a total debt of £1.2 billion. According to Bloomberg , the group has hired advisers ahead of talks with creditors who hold £465m of debt due for repayment in 2021 and £200m due the following year. (more...)
Rocket's general manager's HK tweet angers China Rocket's general manager's HK tweet angers China
- October 08, 2019

Morey tweeted in support of Hong Kong protesters Friday and has since apologized, but the damage has already been done. He sent a tweet that read: "Fight for Freedom". China's Yao Ming (L) of the Western Conference team defends against Allen Iverson (C) of the Eastern Conference as the West's Tracy McGrady (R) and the East's Shaquille O'Neal (far L) look on during the NBA All-Star game in Denver, Colorado on February 20, 2005. (more...)
Turkey to invade Northern Syria to attack Kurdish forces Turkey to invade Northern Syria to attack Kurdish forces
- October 08, 2019

He reminded Trump that a supermajority of lawmakers - more than two-thirds of the full Senate, voted in January to express support for " continued military presence in northeastern Syria". The announcement was met with immediate blowback from some of Trump's closest allies , who said it will endanger the lives of Kurdish allies who have been fighting the Islamic State group in the region. (more...)
U.S. to impose tariffs on United States dollars 7.5 billion of European Union imports U.S. to impose tariffs on United States dollars 7.5 billion of European Union imports
- October 07, 2019

European Union trade commissioner Cecilia Malmstrom said this week that there had not yet been a positive response to that proposal, but that the bloc would continue to pursue a deal that avoided further tariffs and deterioration in trans-Atlantic trade. (more...)