Finance


Jet Airways founder Naresh Goyal, wife step down from board Jet Airways founder Naresh Goyal, wife step down from board
- March 26, 2019

Its main lender State Bank of India reportedly agreed to infuse ₹15 billion into the private carrier to help it stay afloat. "Immediate Funding support of up to Rs 1,500 crore by lenders by way of issue of appropriate debt instrument against security of its assets which will restore normalcy to Company's level of operations", it said. (more...)
Netflix is testing a mobile-only subscription plan for India at 250/mo Netflix is testing a mobile-only subscription plan for India at 250/mo
- March 25, 2019

According to the report , it isn't clear if Apple will reveal the new service on Monday, but it is taking up with partners to build up the service. Aside from original content, CNBC has reported that the new streaming service will also have a number of 'Channels'. Apple has also booked a series from "La La Land" director Damien Chazelle, an " Amazing Stories " reboot from Steven Spielberg and an animated series from the creator of Fox's "Bob's Burgers". (more...)
Winning Numbers For $638 Million Powerball Jackpot Announced Winning Numbers For $638 Million Powerball Jackpot Announced
- March 25, 2019

The jackpot on Saturday would be the seventh-largest in US history, with an estimated lump sum payout of $380.6 million before taxes. That marked the fourth largest in the game's history. The cash value is $380.6 million. "A $1,000,000 winning MEGA MILLIONS® ticket was sold in Rehoboth in January". So even before state taxes , you'd be down to $289.3 million. (more...)
Initiation Of Phase III Clinical Trial Of BAN2401 In Early Alzheimer's Disease Initiation Of Phase III Clinical Trial Of BAN2401 In Early Alzheimer's Disease
- March 24, 2019

It was so promising that the company was running two phase three trials simultaneously, said neurologist Dr. Richard Isaacson, who directs the Alzheimer's Prevention Clinic at Weill Cornell in NY. Drugs that looked promising in early tests have come up short when tried in larger groups, frustrating pharmaceutical executives, doctors and patients. (more...)
Second U.S. jury finds Bayer's Roundup caused cancer Second U.S. jury finds Bayer's Roundup caused cancer
- March 21, 2019

He alleged that exposure to the weed killer led to his non-Hodgkin's lymphoma, a cancer that affects the immune system . Evidence is nearly certain to resurface that Monsanto ghostwrote scientific literature and influenced regulators to claim that Roundup is safe. (more...)
Congressman echoes Trump tweet on GM Lordstown Congressman echoes Trump tweet on GM Lordstown
- March 19, 2019

The dispute centers on GM's November 2018 decision to close plants across North America in a broader bid to be more competitive and focus specifically on producing SUVs and pickup trucks. UAW is the United Automobile Workers union, which represents GM workers. The plant produced Chevy Cruze vehicles. The automaker said that they had "opportunities available for virtually all impacted employees". (more...)
Brother Mukesh Ambani steps in to spare Anil jail stay Brother Mukesh Ambani steps in to spare Anil jail stay
- March 19, 2019

In a verdict that had come as a setback to Ambani, the court on February 20 had pulled up the industrialist for his "cavalier attitude" demonstrated through the affidavit filed in the court and said any "unconditional apology" given must be rejected. (more...)
Mark Zuckerberg loses two key Facebook executives Mark Zuckerberg loses two key Facebook executives
- March 16, 2019

Mr Cox was one of Facebook's first software developers and one of the chief architects of the news feed, the cascade of Facebook posts that is the company's most lucrative source of advertising. Zuckerberg told Wired magazine on March 6 that "there will be a bunch of work inside the company to make sure that we have the right folks in the right roles" to bring Facebook's apps together and introduce more privacy features. (more...)
Elon Musk reveals Tesla Model Y crossover; to start at US$39000 Elon Musk reveals Tesla Model Y crossover; to start at US$39000
- March 16, 2019

The standard battery will have a range of 230 miles with the long-range version capable of 300 miles on a single charge. Due to its connection to the Model 3, the Model Y shares about 75% of its components with the vehicle. Consumers who plop down their deposits for the Model Y may have to cross their fingers for their vehicles to be delivered on schedule. At today's event, Musk proclaimed, "People said that you can make an electric sports vehicle, but you will never be able to make a ... (more...)
Facebook finally ends daylong outage, blames server change Facebook finally ends daylong outage, blames server change
- March 15, 2019

The social network said on Thursday that changes to a server configuration were to blame. But the company said Thursday that it has fixed the problem and that its systems are "recovering". No cause has been given but Facebook said it wasn't a distributed denial of service or cyberattack. The company has a large campus of data centers in Prineville. (more...)
Motorola's 5G Moto Mod for Moto z3 Now Available on Verizon Motorola's 5G Moto Mod for Moto z3 Now Available on Verizon
- March 14, 2019

There is some fine print to be aware of. In Chicago, you'll have access to Verizon's 5G in The Loop, Magnificent Mile (around the Verizon store there), The Gold Coast, River North and Old Town at the outset. If the merger is blocked, Verizon will have less competition dominating the 5G market in the U.S. AT&T is also upgrading its networks to 5G. Though 5G will be a hot topic this year, there's a lot we don't know yet. (more...)
Tesla pumps brakes on plan to shutter all stores Tesla pumps brakes on plan to shutter all stores
- March 13, 2019

Tesla announced on Sunday that it is reversing course on a plan to close all of its brick and mortar retail locations. The move comes after Tesla said last month it was shifting all sales online to help lower prices by about six per cent on average, allowing it to achieve the relatively low starting fee for the entry-spec Model 3 . (more...)
Full-Time Jobs Surge in February Full-Time Jobs Surge in February
- March 11, 2019

On the other end of the spectrum, the number of jobs in accommodations and food services shrunk by 14,000. Also, the price of oil, one of Canada's major exports, was pressured by signs of a slowing global economy. Rounding things out was a 15.1k net increase in self-employment. Wages accelerated again, rising 2.2% for permanent employees (January: + 1.8%). It's a key reason why the Bank of Canada is sticking to its belief the economy will rebound and interest rates will likely head higher . (more...)
Tesla gets $708m in loans for first factory in China Tesla gets $708m in loans for first factory in China
- March 11, 2019

Tesla has been focusing a fair amount of Model 3 production on foreign markets, especially Europe and China. The fresh borrowing follows Tesla's largest-ever debt payment last week. The funding, announced yesterday, is an important boost for the California-based firm, which has been in negotiations with Beijing for years over building the plant in the world's biggest electric vehicle market. (more...)
Norway's $1 trillion wealth fund turns its back on oil and gas Norway's $1 trillion wealth fund turns its back on oil and gas
- March 11, 2019

Firms to be excluded from the fund would include Cairn Energy, in which the fund had a 1.92 percent stake worth $22 million at the end of 2018, Tullow Oil, in which it held 2. However, a growing number of analysts have argued in recent years that exposure to fossil fuel assets brings with it significant financial risks. The world's largest sovereign wealth fund is expected to scale back its investments in oil companies, worth nearly $40bn, after ministers backed calls for the fund to turn ... (more...)
Interoperability of Facebook Apps Could Work Only on Android, Says Zuckerberg Interoperability of Facebook Apps Could Work Only on Android, Says Zuckerberg
- March 10, 2019

Zuckerberg , in a way, acknowledged that Facebook has a problem with mishandling user data by saying "F$3 rankly we don't now have a strong reputation for building privacy protective services, and we've historically focused on tools for more open sharing". (more...)
Tesla's new V3 Supercharger can add 75 miles in 5 minutes Tesla's new V3 Supercharger can add 75 miles in 5 minutes
- March 08, 2019

This week, Tesla is rolling out the third generation of its Supercharger and with it the promise of recharging its electric vehicles significantly faster. Now, Tesla says, its cars will adjust the temperature of the battery pack as the auto approaches the Supercharger to ensure optimal current flow. In the coming weeks, over 12,000 existing V2 Superchargers will get 145kW charge rates, up from 120kW. (more...)
U.S., China Reportedly Close To Trade Deal U.S., China Reportedly Close To Trade Deal
- March 07, 2019

China is offering to lower tariffs on US farm, chemical, auto and other products as part of a trade deal that is nearing completion, a new report says. "The president thus begins his reelection drive with a core campaign promise unfulfilled - and with a recent flurry of economic research showing that his embrace of tariffs is damaging the US economy", The Washington Post notes . (more...)
North Korea summit in Hanoi not a failure, Bolton insists North Korea summit in Hanoi not a failure, Bolton insists
- March 05, 2019

Bolton, in three television interviews, tried to make the case that Trump advanced America's national security interests by rejecting a bad agreement while working to persuade Kim to take "the big deal that really could make a difference for North Korea". (more...)
Tesla launches orders for the $35,000 Model 3 Tesla launches orders for the $35,000 Model 3
- March 02, 2019

To achieve that, Tesla has undertaken several cost-cutting measures in order to remain financially viable while delivering on Musk's promise. TSLA shares fell almost 4 percent in after-hours trading. Interested buyers in North America can already purchase a Tesla straight from your phone in roughly one minute. You can now return a auto within 7 days or 1,000 miles for a full refund. (more...)
Gap Inc. to Close 230 Stores, Spin Off Old Navy Gap Inc. to Close 230 Stores, Spin Off Old Navy
- March 02, 2019

They also plan to close 230 Gap locations over the next two years. "There will be a healthier channel mix after the restructuring, with almost 40% of sales coming from online, and the remainder split fairly evenly between the specialty and value channels". (more...)
Victoria's Secret owner plans store closures in U.S., Canada Victoria's Secret owner plans store closures in U.S., Canada
- March 02, 2019

According to Bloomberg , the company stated, "Given the decline in performance at Victoria's Secret, we have substantially pulled back on capital investment in that business versus our history". The company's other flagship brand, Bath and Body Works, did well. "People identify Victoria's Secret with what's it been for the last 20 years - very sexy and airbrushed models", she said. (more...)
US rejects Venezuela's call for Maduro-Trump talks US rejects Venezuela's call for Maduro-Trump talks
- March 01, 2019

The UN Security Council is set to consider conflicting resolutions on the situation in Venezuela from the United States and Russian Federation, diplomatic sources said here. The draft resolution, seen by AFP, calls for "free, fair and credible presidential elections", with the presence of worldwide observers, and describes the May vote in which Maduro was declared the victor as " neither free nor fair ". (more...)
Venezuela turns to Russian Federation for help as crisis deepens Venezuela turns to Russian Federation for help as crisis deepens
- March 01, 2019

The United States immediately recognized Guaido, and around 50 other countries followed suit. The U.S. draft resolution garnered the minimum nine votes, forcing Russian Federation and China to cast vetoes. U.S. Secretary of State Mike Pompeo told reporters that getting aid into Venezuela to assist millions of people in need of basic necessities remains hard. (more...)
Theresa May to MPs: Do your duty and back my Brexit deal
- February 28, 2019

MPs voted 502-20 in support of an amendment proposed by opposition Labour lawmaker Yvette Cooper that spelled out May's proposed timetable. A motion from The Indepedent Group which would have voted on a second referendum immediately after Labour lost their vote on an alternative Brexit plan was rejected earlier in the day by the speaker after only a small number of MPs sponsored it. (more...)
YouTube demonetizes anti-vaccination channels YouTube demonetizes anti-vaccination channels
- February 25, 2019

Help us grow and continue telling Israel's story to the world. Facebook and Google have been under mounting pressure to deal with the volume of conspiracy theory and misinformation content on vaccinations. That includes videos promoting bogus miracle cures for serious illnesses, claiming the Earth is flat, or making "blatantly false claims" about historical events like the 9/11 terrorist attacks, according to YouTube . (more...)
National Energy Board recommends going ahead with Trans Mountain pipeline expansion National Energy Board recommends going ahead with Trans Mountain pipeline expansion
- February 25, 2019

The fate of endangered southern resident killer whales won't stop the Trans Mountain pipeline expansion. The court said that the NEB's review was flawed and that the federal government could not rely on it as a basis for its decision to approve the expansion. (more...)
Kraft Heinz Bonds Lead Declines in High-Grade Index on Writedown Kraft Heinz Bonds Lead Declines in High-Grade Index on Writedown
- February 24, 2019

Kraft Heinz, like others in the industry, is facing increased competition from less expensive, retailer brands, as well as growing consumer preference for non-processed food. Shares of Kraft Heinz fell 27% in early trading. Over the years, speculation about potential targets has centered on food peers like Mondelez International Inc., General Mills Inc., Campbell Soup Co. (more...)
Cargo jet with 3 aboard crashes near Houston
- February 24, 2019

An Amazon Air (formerly Prime Air) Boeing 767, operated by Atlas Air . Some said it sounded like the engines were "surging", the sheriff said. Ed Gonzalez, the sheriff of neighboring Harris County, which includes Houston, said on Twitter that his office was sending personnel to help with the rescue efforts. (more...)
Google is putting an end to forced arbitration for employees Google is putting an end to forced arbitration for employees
- February 24, 2019

Accordingly, Google declared that it would end the practice for sexual harassment and assault cases, however, not more broadly. Google said Thursday it will no longer require that its workers settle disputes with the company through arbitration, responding to months of pressure from employees. (more...)
Britain says it has no evidence of spying by Huawei Britain says it has no evidence of spying by Huawei
- February 22, 2019

Bloomberg has reported that the "nightmare scenario" for telephone companies would be if they have to remove Huawei equipment from their systems. However, Ryan Ding, president of Huawei's carrier business group, stated that the company "has never and will never" use its equipment to assist espionage activities for the Chinese government. (more...)
United Kingdom security chiefs: Huawei risk in 5G can be contained United Kingdom security chiefs: Huawei risk in 5G can be contained
- February 19, 2019

The U.S. government is trying to "fabricate an excuse for suppressing the legitimate development" of Chinese enterprises, said Geng Shuang, a spokesperson for the Chinese foreign ministry. But a source told the Financial Times the conclusion reached by British officials was likely to embolden European countries to follow its lead and defy America. (more...)
JPMorgan Chase to create digital coins using blockchain for payments JPMorgan Chase to create digital coins using blockchain for payments
- February 18, 2019

Morgan Chase is betting big on the digital asset by creating the first cryptocurrency by a major U.S. bank, CNBC reports . This gives financial trust to people who are going to use these JPM coins. The virtual coin could also transplant worldwide wire transfers, offering a potentially more secure and much faster transaction process than the current system. (more...)
Trump says China trade talks 'going extremely well' Trump says China trade talks 'going extremely well'
- February 18, 2019

Trump said he likes tariffs which are bringing "many billions of dollars pouring into our Treasury", but continues to state that China is paying the duties, when in fact they are paid by U.S. Since China joined the WTO in 2001 it has failed in its obligations to report state subsidies, another of the sources briefed on recent trade talks said. (more...)
Tesla pushes Sentry Mode, Dog Mode updates to its EVs Tesla pushes Sentry Mode, Dog Mode updates to its EVs
- February 15, 2019

On Wednesday, the carmaker rolled out " dog mode" through a software update, a feature which keeps the air-conditioning running and tells passersby that your pet is OK through the centre screen. When enabled, the "sentry mode" monitors the environment around an unattended auto and uses the vehicle's external cameras to detect potential threats, according to Tesla's blog. (more...)
Oil prices fall on rising United States rig count, IL refinery fire Oil prices fall on rising United States rig count, IL refinery fire
- February 14, 2019

Larger-than-expected production cuts by some major oil suppliers and falling seasonal crude inventories due to growing demand are set to push up oil prices, Goldman Sachs said . Falih pointed out that the state-owned oil company "Saudi Aramco" was planning to develop an global energy exploration and production business, stressing that the overseas expansion would be the company future's "core pillar". (more...)
Read the full, annotated text of Jody Wilson-Raybould's resignation letter Read the full, annotated text of Jody Wilson-Raybould's resignation letter
- February 14, 2019

First Nations leaders in B.C. characterized Wilson-Raybould's recent demotion from the Justice Department to Veterans Affairs and her treatment by the Liberals as disappointing and a stab in the back. While the controversy snowballed, Ms Wilson-Raybould declined to speak, citing solicitor-client privilege and cabinet confidentiality. "Our government did its job properly and according to all the rules", he said, while upbraiding his former attorney general, if she felt otherwise, for not ... (more...)
PM calls on MPs to 'hold their nerve' on Brexit PM calls on MPs to 'hold their nerve' on Brexit
- February 13, 2019

Mrs May had been expected to deliver her statement on Wednesday ahead of a Commons debate on Thursday, but her official spokesman said the earlier timing would "give parliament a couple of days to digest the content". The EU's chief Brexit negotiator Michel Barnier has called for "clarity and movement" from Britain. "It's clear from our side that we are not going to reopen the withdrawal agreement but we will continue our discussion in the coming days", Barnier said afterwards. (more...)
Startup Aurora gets $530 mln boost to build self-driving cars Startup Aurora gets $530 mln boost to build self-driving cars
- February 12, 2019

Additional investors included Lightspeed Venture Partners, Geodesic, Shell Ventures and Reinvent Capital. The Series B financing raises Aurora's valuation to almost $2.5 billion according to TechCrunch. Most recently, the company invested in Balyo, a French-based autonomous vehicle navigation company which is able to turn forklifts into self-driving vehicles- meaning the warehouses can operate with fewer manual workers. (more...)
RBI's policy review refreshingly straightforward and pragmatic, says Mirae Asset's Mahendra Jajoo RBI's policy review refreshingly straightforward and pragmatic, says Mirae Asset's Mahendra Jajoo
- February 08, 2019

The RBI cut its estimates on headline inflation which cooled off to a 18-month low of 2.2 per cent in December for the next year, and expects the number to come at 2.8 per cent in March quarter, 3.2-3.4 per cent in first half of next fiscal and 3.9 per cent in third quarter of FY20. (more...)