Economy

Amazon to open grocery stores apart from Whole Foods

Amazon to open grocery stores apart from Whole Foods According to a report by The Wall Street Journal , Amazon plans to open dozens of new grocery stores that will be distinctly different from the company's Whole Foods Market stores. Cameras and sensors throughout the store follow customers as they mill through the aisles, tracking what items they pick up or put back. Amazon already has been experimenting with grocery stores, opening 10 Ama... [Full Article...]

Hyundai, Kia Recall Over 50,000 Vehicles For Engine Fire Risk

Hyundai, Kia Recall Over 50,000 Vehicles For Engine Fire Risk If the catalytic converter is damaged, small particles may enter the engine's combustion chamber and cause abnormal combustion. Officials say a series of events can lead to oil leaks that can cause fires. More than 94,000 model year 2015 through 2018 Kia Sedona minivans also are being recalled to fix an issue with a wiring harness that may cause the harness to break and fail to suppress deployment... [Full Article...]

Volvo opens the order books for electric Polestar 2 sports sedan

Volvo opens the order books for electric Polestar 2 sports sedan The Polestar 2 is now available for online ordering and will have a price range from Euro 39,900 - 59,900. The company has not announced how potential customers can charge their cars outside of their homes/offices, an announcement regarding the public infrastructure network or special tie-ups for charging the Polestar is expected at the 2019 Geneva Motor Show . [Full Article...]

Walmart draws criticism as it replaces disabled 'greeters' with 'customer hosts'

Walmart draws criticism as it replaces disabled 'greeters' with 'customer hosts' Walmart is apparently softening its stance after the company modified expectations for some positions leaving workers with disabilities anxious that they would soon be out of a job. "I thought clearly it was a mistake because it just doesn't fit the Walmart I know, the company or the people I work with, I mean, it's a family kind of place", Davison said. [Full Article...]

Lyft tries to differentiate itself from Uber in its IPO pitch

Lyft tries to differentiate itself from Uber in its IPO pitch Lyft said in the filing that it counted 18.6 million active riders in the latest quarter and has more than 1.1 million drivers registered with the company. Bookings - the amount of money spent by customers - are rising dramatically, which Lyft will try to emphasize for investors. Lyft does not expect to make much money in the near future on its expansion into bike and scooter renting. [Full Article...]

Gap to separate Old Navy, close stores; shares jump

Gap to separate Old Navy, close stores; shares jump The stock surged on the news in after-hours trading on Wall Street. "Following a comprehensive review by the Gap Board of Directors, it's clear that Old Navy's business model and customers have increasingly diverged from our specialty brands over time, and each company now requires a different strategy to thrive moving forward", Chairman Robert Fisher said in Gap's announcement. [Full Article...]

Cuomo speaks with Bezos to win back Amazon for NYC

Cuomo speaks with Bezos to win back Amazon for NYC Cuomo, the Times reported , has promised to help the company navigate the complicated process to get approvals for its planned project in Long Island City. Some House lawmakers , as well as the CEOs of companies including Mastercard and Goldman Sachs, signed on to the letter. The company had been expected to generate billions of dollars' worth of tax revenue for NY. [Full Article...]

The Polestar 2 will cost $55,000, Launch Edition priced at $63,000

The Polestar 2 will cost $55,000, Launch Edition priced at $63,000 Meant to be more widely offered and attainable than the Polestar 1 , the 2 will be priced around $63,000 for the launch edition before any federal or local tax incentives. Impressive the vehicle is expected to have around 400 bhp which when combined with the instant torque of an electric motor should make it incredibly fast off the line. [Full Article...]

Flight operations resume partially at some Pakistani airports

Flight operations resume partially at some Pakistani airports In a video message on Wednesday, Imran Khan , Pakistan's prime minister, called for "dialogue" to ease tensions between the countries. Pakistan's aviation authority partially resumed operations for some global and domestic flights on Friday as thousands of passengers were left stranded worldwide after Islamabad shut down air travel following escalating tensions with neighbouring India ... [Full Article...]

Amazon's Project Zero lets brands delete counterfeit products

Amazon's Project Zero lets brands delete counterfeit products In brief: Amazon's latest initiative aims to stamp out counterfeit products on its marketplace. The Counterfeit Report , an advocacy group that works with companies to stop the sale of counterfeit products, says on its website that an estimated 13 percent of all products sold on Amazon are fake. [Full Article...]

YouTube Bans Comments On Most Videos With Children To Fight Pedophilia

YouTube Bans Comments On Most Videos With Children To Fight Pedophilia In response, YouTube chose to combat both predatory video creators and commenters by temporarily disabling comments on tens of millions of videos featuring minors and deleting hundreds of channels. A "small number" of video-makers will be able to keep comments enabled. The company said it has also released an updated version of its automated moderating system that it expects will identify and d... [Full Article...]

The $35,000 Tesla Model 3 Standard is now available

The $35,000 Tesla Model 3 Standard is now available The $35,000 Model 3 will enter the market that's becoming increasingly crowded. In a somewhat peculiar move lifted straight out of Apple's playbook, Tesla earlier today took the order pages on its website offline. However, the company said other features for this system are coming later this year, and full self-driving capability without driver oversight will be available when regulations allow. [Full Article...]

Economic growth lagged in late 2018, government says

By that metric, the economy grew 3.1 percent previous year, meeting Trump's goal. Shortly thereafter, the combination of the soaring dollar, collapsing oil prices, and spiking credit spreads caused the economy to slow markedly: From the middle of 2015 through the middle of 2016, output expanded at an annual rate of just 1.3%. [Full Article...]

Martha Stewart Is Selling Cannabis In Canada

Martha Stewart Is Selling Cannabis In Canada The company will rely on her knowledge of consumer products, while developing their own line of CBD products across various categories. Canopy's chief executive, Bruce Linton, described Stewart's as a "one of a kind" collaborator on Thursday, according to a Canadian news report . [Full Article...]

Victoria’s Secret Will Close 53 Stores

Victoria’s Secret Will Close 53 Stores Victoria's Secret same-store sales have fallen for the past three years. Consumers are also skeptical that the brand is not inclusive enough to all body types. Total sales at Bath & Body Works were $1.950 billion, up from $1.793 billion. This would leave the chain with a total of 103 stores in the country. Victoria's Secret still has more than 950 stores in the United States. [Full Article...]

Fed Chair: Timetable for Ending Balance Sheet Reduction Close

Fed Chair: Timetable for Ending Balance Sheet Reduction Close Bank deposits, or reserves, were $1.6 trillion, up from typical levels of just tens of billions of dollars prior to the financial crisis of 2008-2009. " Financial markets became more volatile toward year-end, and financial conditions are now less supportive of growth than they were earlier a year ago", said Powell. [Full Article...]

Trump extends China tariff deadline, cites progress in talks

Trump extends China tariff deadline, cites progress in talks Well, at the end of this week, the US was set to raise the tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent. Trump said many disputes will take more time to resolve but he hopes to "put these more challenging issues into a longer-term negotiating framework". [Full Article...]

USA interference into Venezuela's affairs unacceptable - Russian deputy foreign minister

USA interference into Venezuela's affairs unacceptable - Russian deputy foreign minister The revelation was published on Wednesday on the Argentinean news website Politica Online, which reported that the criticism was made at the meeting of the self-styled Lima Group in Bogota, Colombia, on Monday. Russian Federation and China vetoed a U.S. -drafted U.N. Security Council resolution calling for a free and fair presidential election in Venezuela and unhindered aid access. [Full Article...]

Billionaire Warren Buffett: Bitcoin Is a 'Delusion' That 'Attracts Charlatans'

Billionaire Warren Buffett: Bitcoin Is a 'Delusion' That 'Attracts Charlatans' Buffett says his preferred holding period for an acquisition is forever. "He and I disagree on some things, but I think that he knows how to run things". Do not be concerned about volatile stock prices is what Buffett had to say "Charlie and I have no idea as to how stocks will behave next week or next year". [Full Article...]

May gives parliament votes on delaying Brexit

May gives parliament votes on delaying Brexit But the opposition Labour Party announced it would now support a new public vote on Brexit, the first time since Britain voted in 2016 to leave the European Union that one of its main parties has backed giving voters a chance to change their minds. [Full Article...]


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