Economy

Another one bites the dust: Panasonic set to move headquarters to Amsterdam

Mr Abadie told the Nikkei Asia Review that Panasonic had been considering the move for 15 months, because of Brexit-related concerns such as access to free flow of goods and people. Japanese companies have more than $60 billion invested in the country, according to the most recent statistics. Several major Japanese financial institutions, including Nomura, Sumitomo Mitsui and Daiwa Securities,... [Full Article...]

Trump cancels pay raise of federal workers due in January

Trump cancels pay raise of federal workers due in January The pay increases would cost the federal government at least an addition $25 billion, according to the president. However, in the budget plan he released earlier this year, setting spending priorities for the coming year, Trump indicated he would seek a freeze on federal pay. [Full Article...]

US stocks drop on China trade concerns; Argentine peso roiled

Earlier this month, Turkey's currency crisis sent the lira to a record low against the USA dollar and sparked concerns about emerging markets investments. A pan-European stock index closed down 0.3 percent. The unexpected appeal from Argentina comes after a collapse in investor confidence in President Mauricio Macri's government sent the peso tumbling more than 7% yesterday. [Full Article...]

Dyson Moves Ahead on $2.6 Billion E-Car Plan with Test Center

Dyson Moves Ahead on $2.6 Billion E-Car Plan with Test Center Dyson is specifically considering setting up a dynamic handling track; an off-road route; a high-speed section; and some test slopes , to allow for thorough testing of its upcoming battery-electric vehicle. The company went on to say they will build test tracks, rural and off-road courses as well as a skid pad. Dyson is preserving the original fabric and has already restored two of the 1938 h... [Full Article...]

ONTARIO: Tesla Model S goes airborne. Driver faces criminal charge

ONTARIO: Tesla Model S goes airborne. Driver faces criminal charge Police discovered that the driver of the vehicle had been traveling at a high rate of speed when the auto reached a steep incline leading up to railway tracks. Then the vehicle crashed down in the oncoming lane 100 feet away before hitting a tree. Online readers have pointed out that the driver hit railway tracks on Little Avenue in Barrie , Canada . [Full Article...]

Paytm announces investment by Berkshire Hathaway in parent company

Paytm announces investment by Berkshire Hathaway in parent company While the company did not disclose the size of the deal, it is expected to be in the range of Dollars 300-350 million, according to a source privy to the development. Over the past year, Paytm's near-monopoly status in digital payments has been challenged by numerous players such as Google Pay , Amazon Pay, BHIM and Flipkart-owned PhonePe, while newer players such as Whatsapp's payments service a... [Full Article...]

Kinder Morgan shareholders vote to sell Trans Mountain pipeline

Kinder Morgan shareholders vote to sell Trans Mountain pipeline The case combined almost two dozen lawsuits calling for the NEB's review of the project to be overturned. He says the government is reviewing the Federal Appeal Court ruling carefully, but the judgment is long and he doesn't have a response yet. [Full Article...]

Argentina's peso tumbles further, despite interest rate hike to 60pc

Argentina's central bank yanked its benchmark interest rate up to a dizzying 60 percent on Thursday in a bid to control rampant inflation as the country's currency plummeted 15.8 percent to a record low 40.5 pesos per USA dollar . Argentina asked the International Monetary Fund to speed up the disbursement of a $50 billion lifeline it arranged earlier this year. Macri said Wednesday that he i... [Full Article...]

Turkish President Erdoğan to visit Tehran in September

Turkish President Erdoğan to visit Tehran in September The lira dropped 3.5% to 6.2964 against the dollar around 8:45 a.m. ET. Turkish President Recep Tayyip Erdogan on Saturday called for joint efforts to "combat attacks on Turkey's economy" amid its persistent row with the United States. [Full Article...]

Air Canada, WestJet announce higher luggage fees

Air Canada, WestJet announce higher luggage fees Approved carry-on bags and one personal item are still free. Both Air Canada and WestJet are upping their fees for both the first checked bag (from $25 to $30) and the second checked bag (from $30 to $50). The additional baggage fees are also going up on the JetBlue. United Airlines will soon start charging for certain economy seat assignments . This option is beneficial for those who use J... [Full Article...]

Uber Plans To Shift Focus On Electrical Bikes

Uber Plans To Shift Focus On Electrical Bikes The $200 million April acquisition of electric bicycle sharing business Jump has seen certain cities include bike sharing icons on the Uber app in a bid to familiarise the car-sharing clientele and introduce more people to two-wheel transport for shorter journeys. [Full Article...]

Facebook Watch Video-On-Demand Service is Rolling Out Globally

The company is pushing the social aspect of Facebook Watch as a major draw. "The amount we're investing in this obviously is going to scale with the size of the opportunity, and obviously we're scaling to the entire globe", Matthew Henick, Facebook's head of content strategy and planning, said in an interview. [Full Article...]

Vodafone, TPG announce merger of equals

Vodafone, TPG announce merger of equals A short time ago, the shares were up 17.6% to $9.270. The merged company will have about 20% of Australia's mobile phone market and 22% of the fixed line market. "The combination of our two highly complementary businesses and talented employees will create a more sustainable company, with enhanced capacity to invest in new technology and innovation", she said. [Full Article...]

Nigeria’s GDP declines from 1.95% to 1.5% in Q2 - NBS

Nigeria’s GDP declines from 1.95% to 1.5% in Q2 - NBS Chief Executive Officer Of Cowry Asset Management, Mr Johnson Chukwu, told Channels Television's on Channels Television programme, Business Morning said although the GDP Q2 report shows positive growth, the key sectors, however, did not perform positively. [Full Article...]

British diver prepares lawsuit against Elon Musk for calling him 'pedo guy'

British diver prepares lawsuit against Elon Musk for calling him 'pedo guy' Elon Musk has doubled down on the comments he made against the British diver who helped rescue a Thai football team from a flooded cave , querying why Vernon Unsworth had not sued him after the billionaire called him a paedophile. He wrote: "Did you investigate at all? According to a subsequent Twitter post, you did so out of anger". They culminated in a post that described Mr Unsworth as... [Full Article...]

Demonetisation: 99.3% of old notes now with banks, says RBI

Demonetisation: 99.3% of old notes now with banks, says RBI For example, 15% of total notes in circulation are ₹500s and they account for 42% of the total value of currency in circulation. "Compared to the previous year, there was an increase of 35% in counterfeit notes detected in the denomination of Rs 100, while there was a noticeable increase of 154.3% in counterfeit notes detected in the denomination of Rs 50", the report stated. [Full Article...]

Trump Announces Trade Deal Which Could Eliminate NAFTA

Trump Announces Trade Deal Which Could Eliminate NAFTA A senior administration official told reporters that negotiations with Canada would start Monday afternoon. Officials said they hope Canada will agree to the terms by Friday, when the White House plans to formally notify Congress that Trump will sign the deal in 90 days. [Full Article...]

Google will now help you get a bank loan in India

Google will now help you get a bank loan in India Digital lending is also becoming a part of the new Google Pay . Tez alone handed $30 billion in transaction value, facilitating over 750 million transactions. India continues to rank high on Google's list of priorities when it comes to specific markets and focus areas for both hardware and software releases. [Full Article...]

U.S., Mexico reach NAFTA deal; talks with Canada to start immediately

U.S., Mexico reach NAFTA deal; talks with Canada to start immediately Wall Street surged overnight, with the S&P 500 and Nasdaq indices hitting fresh records on news that the United States and Mexico have agreed to enter into a new trade deal to replace the North American Free Trade Agreement (NAFTA ). So Monday's announcement raises the question: Is the administration authorized to reach a deal with only one of those countries? USA officials, when asked by rep... [Full Article...]

Donald Trump announces new trade deal with Mexico

Donald Trump announces new trade deal with Mexico Aram... Trump has frequently criticized NAFTA as hurting American jobs ... what details do we know about the new deal. Trump praised the deal at the White House on Monday, saying the new agreement would be "tremendous" for USA farmers and workers. [Full Article...]


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