Economy

Australian Minister Frydenberg denies China has banned Australia imports

Australian Minister Frydenberg denies China has banned Australia imports But Canberra can't explain why ships are floating outside certain Chinese ports still laden with Australian coal - other than to say these things have happened before and everything ultimately returns to normal. President Donald Trump will meet Chinese President Xi Jinping next month to strike a deal. Imports can not exceed that level but the quota applies to all countries including Australia, Rus... [Full Article...]

$16bn plunge after Kraft Heinz admits old brands worth less

$16bn plunge after Kraft Heinz admits old brands worth less Kraft Heinz said it's making "certain improvements to its internal controls to mitigate the likelihood of this occurring in the future and has taken other remedial measures". With the billions in charges, the investigation and a dividend cut, the first of what will likely be a wave of downgrades on the company stock began to roll in Friday. [Full Article...]

United States oil inventories increase last week

United States oil inventories increase last week Progress in U.S. -China talks to resolve a trade dispute that has dampened global economic growth also supported prices. USA sanctions have hit Iranian and Venezuelan crude exports while unrest has curbed Libyan output. "Anything positive today on trade talks will boost the oil price". Crude inventories at Cushing, Oklahoma, the delivery site for USA crude futures, accounted for 3.4 million ba... [Full Article...]

Government Announces Angel Tax Exemption For Recognised Start-Ups

Government Announces Angel Tax Exemption For Recognised Start-Ups As per the broadened definition for the objective of exemption , a company will be considered to be a startup till ten years from the date of incorporation, as opposed to seven years previously. Angel tax is applicable to unlisted companies that have raised capital through sale of shares at a value above their fair market value. This notification , by removing the focus on valuation and removin... [Full Article...]

China Will Not Bargain Yuan Rate for Trade Disputes: Foreign Ministry

China Will Not Bargain Yuan Rate for Trade Disputes: Foreign Ministry U.S. Trade Representative Robert Lighthizer (2ndL), Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross (Top-L) pose for a photograph with China's Vice Premier Liu He (2ndR), Chinese vice ministers and senior officials before the start of US-China trade talks at the White House in Washington , U.S., February 21, 2019. [Full Article...]

Tesla Model 3 loses Consumer Reports recommendation over 'declining reliability'

Tesla Model 3 loses Consumer Reports recommendation over 'declining reliability' The Model 3, which started deliveries in the second half of 2017, was initially denied a recommendation by the magazine a year ago. The new data from Consumer Reports was derived from its annual Owner Satisfaction survey, whose data encompassed July through September 2018. [Full Article...]

Alberta announces deal with CN, CP to ship crude by rail

Alberta announces deal with CN, CP to ship crude by rail Premier Rachel Notley is scheduled to release an update at 1:00 pm MDT. The Alberta government was originally considering leasing or buying 7,000 tank cars, but, in addition to ruling out purchasing the equipment as uneconomical, determined with CN and CP that 4,400 cars would be sufficient to ship 120,000 barrels a day, based on traffic routing. [Full Article...]

No govt body has informed us about security related issue: Huawei CEO

No govt body has informed us about security related issue: Huawei CEO It wasn't quite the briefing that I got about them (Huawei). A British defense and security think tank has warned that it would be "naive" and "irresponsible" to let Chinese Telecommunications Company Huawei supply equipment for the UK's ultra-high speed 5G mobile networks. [Full Article...]

Good Old "Disgruntled Employee" Theory Attached to Gatwick Drone Attacker

Good Old The airport said the disruption lasted for 30 minutes and apologised for the inconvenience to passengers. The airport said " the safety and security of customers is our key priority at all times ". On Wednesday, the Department for Transport announced new legislation to extend the no-fly zone for drones around airports will come into force next month. [Full Article...]

Southwest shares drop as mechanics dispute escalates

Southwest shares drop as mechanics dispute escalates Southwest's arrival and departure boards Wednesday showed scores of delays and cancellations. In a memo obtained by CBS News, the airline called for all hands on deck. That created a domino effect, disrupting Southwest flights across the country. "Negotiations and the degradation of safety culture are two entirely different items", Bret Oestreich, AMFA's national director, told Reuters. [Full Article...]

Brexit paints go-slower stripe on UK car industry

Brexit paints go-slower stripe on UK car industry At the time of publishing, the carmaker had said in a statement that "we are not able to make any comments regarding the speculation", adding that they would communicate any news to their workers first. A recent free-trade agreement between Japan and Europe gave credence to the idea, as Honda could switch manufacturing to Japan and import its cars to Europe tariff-free. [Full Article...]

SC holds Anil Ambani, Reliance Comm guilty of contempt

SC holds Anil Ambani, Reliance Comm guilty of contempt Indian billionaire businessman Anil Ambani is facing a prison sentence after a deal between his cash-strapped firm Reliance Communications ( RCom ) and telecoms giant Ericsson collapsed. Ericsson thereafter sought the initiation of contempt proceedings against Reliance Communications and Anil Ambani for violation of the Supreme Court orders of August 3 and October 23. [Full Article...]

EuroMillions: 175m EuroMillions victor 'makes contact'

EuroMillions: 175m EuroMillions victor 'makes contact' We don't want this to change our lives. The jackpot eclipses the previous record Euromillions Irish win of €115m by Limerick woman Dolores McNamara in July 2005. The second biggest win was in 2008 when a player from Tipperary won £13 million (15 million euro) in 2008. He said:"We are advising our players to check their tickets and if they are the victor sign the back of the ticket, keep it s... [Full Article...]

EV startup Rivian gets $700M in funding, led by Amazon

EV startup Rivian gets $700M in funding, led by Amazon Rivian didn't name GM in its statement Friday, which said that existing shareholders participated along with Amazon . "Beyond simply eliminating compromises that exist around performance, capability and efficiency, we are working to drive innovation across the entire customer experience". [Full Article...]

Brexit: Theresa May heads back to Brussels for further talks

Brexit: Theresa May heads back to Brussels for further talks Theresa May plans to speak to every European Union leader and the European Commission chief to seek changes to her EU withdrawal agreement, days after another defeat from her own lawmakers and as businesses brace for a no-deal Brexit on 29 March, write Paul Sandle and Stephen Addison . [Full Article...]

N. Korea, US look set for Hanoi talks on summit agenda

N. Korea, US look set for Hanoi talks on summit agenda Speaking to reporters at a White House event on Tuesday, Trump said that if North Korea did not conduct any nuclear tests, then he was not under pressure to achieve one of his leading foreign policy goals - convincing the country to abandon nuclear weapons. [Full Article...]

Google follows Apple's lead by investigating controversial Saudi app

Google follows Apple's lead by investigating controversial Saudi app It contains indications that the app is used to prevent women engaging in transit, particularly that which involves leaving Saudi Arabia , if they feel they need to. The free Absher app, created by the Saudi interior ministry, allows men to update or withdraw permissions for their wives and female relatives to travel internationally and get SMS updates if their passports are used, said human ... [Full Article...]

Oil prices hit 2019 highs amid supply cuts, trade talk hopes

Oil prices hit 2019 highs amid supply cuts, trade talk hopes Further to the above events, crude prices have been affected by United States sanctions against oil exporters and OPEC-members, Iran and Venezuela. Despite some caution around trade, global oil markets remain relatively tight because of supply cuts led by the Middle East dominated Organization of the Petroleum Exporting Countries (OPEC), with top crude exporter Saudi Arabia cutting the most. [Full Article...]

Payless is closing down its stores in the U.S.

Payless is closing down its stores in the U.S. The debt-burdened chain filed for Chapter 11 bankruptcy protection in April 2017, closing hundreds of stores as part of its reorganization. A Payless spokesperson says the stores will most likely remain open until May. The Salina store will remain open until May, or until whenever its inventory is liquidated, whichever comes first. An employee said Monday the store will close sometime between ... [Full Article...]

Unruly passenger removed from flight after yelling about child, spitting

Unruly passenger removed from flight after yelling about child, spitting JetBlue flight 1954 was headed to Fort Lauderdale-Hollywood International Airport from Luis Muñoz Marín International Airport in San Juan in a almost three-hour flight when the passenger gave birth, airline spokeswoman Tamara Young told WPLG . [Full Article...]


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