Economy

Sears to close one Kansas store

Sears to close one Kansas store Sears generated total revenues of approximately $2.9 billion during the first quarter of 2018, compared with $4.2 billion this time previous year, with store closures contributing to almost two-thirds of the decline. Big box retailers such as Sears have been hit hard in recent years. After this round of closures, the company will have about 800 stores, down from about 1,000 at the end of past ye... [Full Article...]

Fiat, Chrysler brands looking at major changes but not dead yet

Fiat, Chrysler brands looking at major changes but not dead yet Many other cars in Chrysler's 2014 five-year plan also failed to arrive, There was no Chrysler 100 entry-level saloon, while the 200 was axed. In a break from fashion tradition, Marchionne unzipped a knit cardigan to reveal a blue tie - the first, he said, he has worn in a decade. [Full Article...]

Buys 25% of LNG Canada — PETRONAS Back In

Buys 25% of LNG Canada — PETRONAS Back In Malaysian state-owned energy company Petronas says one of its wholly-owned entities has signed an agreement for an equity position in the LNG Canada project in Kitimat, B.C. The proposed project includes the design, construction and operation of a gas liquefaction plant and facilities for the storage and export of liquefied natural gas (LNG), including marine facilities. [Full Article...]

Why China is about to become a larger part of your portfolio

Why China is about to become a larger part of your portfolio ZTE Corp (中興通訊), the Chinese telecommunications equipment manufacturer at the heart of a trade spat with the USA, has had its yuan-denominated shares cut from a list being added to MSCI Inc's global benchmarks. But FIIs that sell mutual funds and other products which track MSCI indices will most likely begin purchasing shares of the relevant companies to stay in step with the USA index compiler. [Full Article...]

Strong Economic Expansion Lifts India’s April Domestic Passenger Demand: IATA

Strong Economic Expansion Lifts India’s April Domestic Passenger Demand: IATA The Australian airline , nicknamed the "Flying Kangaroo", swung from a record loss in 2014 to forecast a record profit in the financial year ending June 30 as it cut costs, boosted revenue and benefited from lower oil prices. Airline operators such as Singapore Airlines Ltd ( SIAL.SI ) and Malaysia's AirAsia Group Bhd ( AIRA.KL ) posted strong profits in the latest quarter ended March amid a to... [Full Article...]

Google won't renew its military AI contract

Greene told Googlers the backlash against the firm's involvement in the project had been bad for the company, Gizmodo reported . Google would not choose to pursue Maven today because the backlash has been awful for the company, Greene said, adding that the decision was made at a time when Google was more aggressively pursuing military work. [Full Article...]

Big Job Gains Raise Questions About Trump's Pre-Release Tweet

Big Job Gains Raise Questions About Trump's Pre-Release Tweet White House Press Secretary Sarah Sanders told reporters that President Trump was briefed on the jobs numbers last night. That comment was made, however, shortly after lunch, hours before the White House would have received the jobs data. [Full Article...]

Hotel valet has lucky escape, but Porsche gets crunched - WeirdNews

Hotel valet has lucky escape, but Porsche gets crunched - WeirdNews The $240,000 Porsche was successfully extracted from under the Subaru and towed away, with the hotel asserting they are conducting a full investigation into the incident in conjunction with NSW Police and the owners of the two vehicles. [Full Article...]

Singapore Airlines Is Launching The World's Longest Flight This October

Singapore Airlines Is Launching The World's Longest Flight This October This time around, the airline will use Airbus's brand new A350-900ULR to operate the ultra-long flight. Standard economy class has been dropped. " Singapore Airlines has always taken pride in pushing the boundaries", says the airline's CEO, Goh Choon Phong. [Full Article...]

Spain’s Next Prime Minister Begins to Shape Unwieldy Government

Spain’s Next Prime Minister Begins to Shape Unwieldy Government Sanchez won Friday's no-confidence motion by 180 votes to 169, with one abstention. Rajoy earlier charged that Sanchez and the Socialists could not win at the polls and so sought the no-confidence vote as the only path to power. The bespectacled 63-year-old leader got up and shook hands with Sanchez before leaving the lower house without a word. His pro-independence opponents in the Catalonia ... [Full Article...]

Ticketfly Hacked and More Havoc Promised - Slog

Ticketfly Hacked and More Havoc Promised - Slog Last night, the Ticketfly home page-and the home pages of many of its clients-showed a message from a hacker called " Ishakdz " featuring the now-familiar masked Guy Fawkes image associated with the Anonymous collective-though there's no apparent indication of association between " Ishakdz " and Anonymous-and the words "Your Security Down im Not Sorry". [Full Article...]

Google won't renew controversial drone project with Pentagon amid employee backlash

Google misled the public about the size of the company's contract to develop AI for the Pentagon, and its executives chose against publicizing its participation in the project, leaked emails obtained by The Intercept show. For a tech company that heralded itself as one that values the views and perspectives of its employees, Google has worked to reduce protests without pivoting away from mil... [Full Article...]

SoftBank will invest $2.25 billion in GM's Cruise self-driving-car division

SoftBank will invest $2.25 billion in GM's Cruise self-driving-car division GM will also invest $1.1 billion of its own assets into GM Cruise. The investment will come in two stages, GM said. (Buy, price target $70) SoftBank's investment is a "major vote of confidence " for GM Cruise and supports the notion that the automaker has a highly-overlooked and possibly game-changing element. [Full Article...]

Taxi drivers: "City of Syracuse is pro-Uber"

Taxi drivers: On Tuesday, San Francisco City Attorney Dennis Herrera sent subpoenas to Uber and Lyft demanding that the companies provide records of how drivers are classified, as well as records on driver pay and benefits. Taxi drivers must pay a $300 annual fee for a yearly auto inspection and $50 for a hack license, which is proof of a background check. O'Connor also said the court challenge alleged the ... [Full Article...]

Italy establishes populist government led by Giuseppe Conte

Italy establishes populist government led by Giuseppe Conte The President has also approved a list of cabinet ministers brought by Conte to the palace. Populists took power in Italy for the first time Friday with the swearing-in of a new government fusing in a coalition a political movement that delights in pillorying the establishment and a party whose anti-migrant, euro-skeptic politics have seen it soar in popularity. [Full Article...]

Air India sale fails to attract buyers

The civil aviation ministry said in a tweet quoting the transaction adviser EY that no response has been received for the Expressions of Interest (EoIs) floated for the strategic disinvestment of Air India. The government had also restricted merging the airline with the buyer's existing businesses, but later relaxed the rule to allow some integration for business efficiency. [Full Article...]

Fiat plans new 500e and 500 Giardiniera wagon

Outlining its next five-year strategy, the world's seventh-largest carmaker said it is targeting adjusted earnings before interest and tax of between 13-16 billion euros in 2022, up from 6.6 billion euros last year, while margins are expected to rise to between 9-11 percent from 6.3 percent in 2017. [Full Article...]

Smoking Passenger May Have Caused Emergency Landing In San Jose

Smoking Passenger May Have Caused Emergency Landing In San Jose The woman, who sent several tweets to Southwest explaining the situation, said the passenger began his crude behavior shortly after takeoff and did not stop throughout the almost five-hour flight. Southwest Airlines confirmed it is "looking into" claims that a man was masturbating aboard a flight from Las Vegas to Philadelphia on Tuesday, but the female passenger who was seated next to him tol... [Full Article...]

US Job Growth Accelerates, Unemployment Rate Drops to 3.8 Percent

US Job Growth Accelerates, Unemployment Rate Drops to 3.8 Percent An imminent interest rate rise by the Federal Reserve is regarded as nearly certain after a report showed that America's labour market continued to boom last month. In April, only 159,000 jobs were added, according to revised figures released today. "In that environment, we still expect the Fed to hike interest rates an additional three times this year". [Full Article...]

Warren Buffett tried to invest in this tech giant but talks failed

Warren Buffett tried to invest in this tech giant but talks failed Buffett did not immediately respond to a request for comment left with an assistant. The deal fell after the two sides could not agree on terms, Bloomberg reported, citing a source. In recent months, Uber has been working to find its footing after controversies over its culture and the fatal crash of one of its self-driving cars in March. [Full Article...]


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