Economy

Is Japan losing faith in the UK — Honda

Is Japan losing faith in the UK — Honda The site in Swindon, about 80 miles west of London, is the nation's fourth-largest automotive plant and employs about 3,500 workers where the Honda Civic hatchback is made. "The UK forms part of our global network of manufacturing plants, so the only place we produce the vehicle we produce at Swindon is in Swindon itself", Honda Europe's senior vice-president Ian Howells told the BBC a yea... [Full Article...]

RBI to give Rs 28,000 cr as interim dividend to govt

RBI to give Rs 28,000 cr as interim dividend to govt The finance ministry has also asked the central bank to transfer about 270 billion rupees of surplus capital withheld by it in the previous two financial years. Under then governor Raghuram Rajan, RBI had paid a dividend of Rs 65,896 crore and this was followed by a dividend of Rs 65,876 crore in 2016-17. Minister of State for Finance Shiv Pratap Shukla, Finance Secretary Ajay Narayan Jha, Revenue... [Full Article...]

Gone in a New York Minute: How the Amazon Deal Fell Apart

Gone in a New York Minute: How the Amazon Deal Fell Apart Or do you fetch up with the progressive mayor, Bill de Blasio? Arlington is more welcoming partly because it has been trying for years to lure a company to fill commercial office spaces left vacant by a Pentagon withdrawal more than a decade ago. [Full Article...]

All Payless ShoeSource stores to close

All Payless ShoeSource stores to close The company is set to close all 2,300 locations, the report said . The retailer has been trying to find a buyer. The company expects all stores to remain open until the end of March and the majority until May. Payless is the latest brick-and-mortar retailer to suffer in the age of Amazon, joining Toys "R" Us , Brookstone and clothing store Charlotte Russe. [Full Article...]

Brent oil hits 2019 high above $65

Brent oil hits 2019 high above $65 While most of the supply news has been supportive for Brent crude oil, gains have been limited in WTI futures because of soaring US crude production. In an interview with the Financial Times published on Tuesday, Saudi Arabia's Energy Minister Khalid al-Falih said that the Saudis would cut production to around 9.8 million bpd in March, some 500,000 bpd below the commitment in the OPEC+ deal th... [Full Article...]

Payless ShoeSource to close all its U.S. stores, per report

Payless ShoeSource to close all its U.S. stores, per report Reuters reports the discount retailer plans to close all of its approximately 2,300 stores and file for bankruptcy later this month. Liquidation sales could begin as soon as next week, according to Reuters . The company has been trying to find a buyer, but attempts have been unsuccessful. A company spokesperson confirmed the closure with the news outlet, saying liquidation sales will start o... [Full Article...]

JPMorgan Chase boss Jamie Dimon banking on digital currency

JPMorgan Chase boss Jamie Dimon banking on digital currency In a major development, JP Morgan Chase has announced the launch of a cryptocurrency called JPM Coin . The first cryptocurrency created by a major USA bank is here - and it's from J.P. When one client sends money to another over the blockchain , JPM Coins are transferred and instantaneously redeemed for the equivalent amount of USA dollars, reducing the typical settlement time. [Full Article...]

Amazon Just Canceled Its Plans for a Headquarters in New York City

Amazon Just Canceled Its Plans for a Headquarters in New York City In its statement , Amazon said it backed out amid criticisms from state and local politicians. Amazon has cancelled its plans for a new headquarters in New York City following a torrent of local political opposition . In addition to about 10,000 warehouse workers in IL, mostly in the Chicago suburbs, Amazon is expanding its downtown office from 200 to 400. Rebecca Kolins Givan, an as... [Full Article...]

Amazon agrees to acquire mesh Wi-Fi company Eero

Amazon agrees to acquire mesh Wi-Fi company Eero He said that the company is committed to continuing innovation in the segment on behalf of its customers. Eero is one of the leading mesh router companies, paving the way for a bunch of other similar products - even from big companies like Google and Netgear . [Full Article...]

Tesla Disses Cats, Rolls Out Dog Mode In Over-The-Air Update

Tesla Disses Cats, Rolls Out Dog Mode In Over-The-Air Update To address the issue, Tesla has introduced a new Dog Mode so your furry friend can remain cool while you're popping by a store. When switched on, the vehicle enters a standby mode, in which it continually monitors its nearby surroundings with external cameras. [Full Article...]

Donald Trump considers 60-day extension for China tariffs deadline

Donald Trump considers 60-day extension for China tariffs deadline The US had threatened to raise tariffs on $200bn worth of Chinese goods to 25 percent from 10 percent on March 1 if Beijing failed to agree to Washington's demands to amend its trade practices. China has offered to buy more U.S. goods but is expected to resist making deeper changes to its economy. There are few signs of movement on their thorniest issue: Washington's demand that Beijing scal... [Full Article...]

Airbus to halt A380 superjumbo production as sales stall

Airbus to halt A380 superjumbo production as sales stall European plane manufacturer Airbus has taken the "painful" decision to cease deliveries of the A380 in 2021. But sales of the industry's largest four-engined jets have fallen due to the improvements in lighter twin-engined alternatives, such as the Boeing 787 and 777 or Airbus's own A350. [Full Article...]

Trump Says Could Extend March 1 China Trade Talks Deadline

Trump Says Could Extend March 1 China Trade Talks Deadline Encouragingly Trump said "I don't think you're going to see a shutdown", although the added "If you did have it, it's the Democrats' fault". A second source said that Xi is expected to meet the United States delegation in Beijing this week, although the specific timing has not yet been confirmed. [Full Article...]

Global oil supply to swamp demand in 2019 despite output cuts - IEA

Global oil supply to swamp demand in 2019 despite output cuts - IEA International Brent crude futures were up 1 percent, or 65 cents, at $63.07 per barrel. The global oil market will struggle this year to absorb fast-growing crude supply from outside the Organization of the Petroleum Exporting Countries, even with the group's production cuts and US sanctions on Venezuela and Iran, the International Energy Agency said in a report on Wednesday. [Full Article...]

Lufthansa Airlines Sues Customer Who Skipped Part Of His Return Flight

Lufthansa Airlines Sues Customer Who Skipped Part Of His Return Flight German airline giant Lufthansa is suing a passenger who did not take the last leg of their ticketed journey in a bid to clamp down on a popular travel hack. But Lufthansa , which is vulnerable because Frankfurt and Munich are both used as stopovers for multi-stop flights, is looking to make an example to deter customers from using this hack. [Full Article...]

IPhone Sales Collapsed in China and We All Know Why

IPhone Sales Collapsed in China and We All Know Why The California-based firm commanded just a 9.1 percent of the Chinese smartphone sector a year ago, placing it fifth among all makers, Beijing News reported today, citing a publication from market researcher IDC . IDC said the iPhone's high price specifically "led to the decline of Apple's domestic market", while the increased strength of Huawei's brand and its flagship phone's "excellent tech... [Full Article...]

Reddit Raises $300 Million At $3 Billion Valuation, With Tencent Among Backers

Reddit Raises $300 Million At $3 Billion Valuation, With Tencent Among Backers It is ranked among the most visited US Web sites, and has more than 138,000 "communities" for discussions on various topics. Access to Reddit is blocked in China . Chinese authorities also blocked references to the date of Tiananmen Square Massacre such as "4 June" and "six four". "Tencent has invested in hundreds of companies and there's been little involvement or interest from China's state app... [Full Article...]

Elon Musk Says 'Dog Mode' Is Coming to Tesla Cars This Week

Elon Musk Says 'Dog Mode' Is Coming to Tesla Cars This Week To this point, each nation has been Tesla's most attractive areas in the case of gross sales, and this might assist them to dominate the market. "We forecast Tesla 1Q19 free cash flow to be negative $600 million driven by a sequential decline in profit and working capital leakage", Adam Jonas, an analyst at Morgan Stanley, said recently. [Full Article...]

Venezuela sanctions leave oil market short of heavy crude

Venezuela sanctions leave oil market short of heavy crude Brent crude futures rose 88 cents to $63.30 a barrel by 0950 GMT, while USA crude oil futures gained 66 cents to trade at $53.76 a barrel. Since January 1, an OPEC-led group has been cutting at least 1.2 million barrels per day from production in an effort to trim the global supply and stabilize prices. [Full Article...]

Retail inflation dips further to 2.05% in January, lowest in 19 months

January's data is an indication that inflation, which is little over 2 percent, is very close to the central bank's lower tolerance level of inflation at 2 percent. Despite the fall in inflation since late 2017 and the fastest wage growth in a decade, businesses have reported a downturn in consumer spending in recent months. [Full Article...]


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