Economy

General Electric CEO John Flannery is out

General Electric CEO John Flannery is out Despite cutting jobs and shedding businesses, GE's results continued to deteriorate, mainly due to problems at its power plant division, which makes electric generating equipment. Davis said the stock price has probably already adjusted to expectations of no contribution from power . That will leave it focused on areas such as jet engines, power plants and renewable energy. [Full Article...]

Elon Musk Reportedly Says Tesla Is Close to Achieving Profitability

Elon Musk Reportedly Says Tesla Is Close to Achieving Profitability Monday's gains erased Friday's 14 percent plunge after the SEC filed its lawsuit late on Thursday. However, according to the latest reports, the CEO of Tesla , the well-known auto manufacturing company, of course, Elon Musk resigns as chairman of Telsa. [Full Article...]

New California internet neutrality law sparks U.S. lawsuit

New California internet neutrality law sparks U.S. lawsuit The U.S. Justice Department sued California on Sunday over the new law just hours after Gov. This isn't the first time California has thrown around its weight as the most populous state in the union. Jonathan Spalter, who heads USTelecom, an industry trade group, said California's law will not "help advance the promise and potential of California's innovation DNA". [Full Article...]

GE CEO John Flannery steps down

As a result, the Boston-based company now expects to miss its free cash flow and earnings forecasts for 2018. Last week, shares in the company fell seven percent, pushing GE's market capitalization below $100 billion and causing Wall Street analysts to cut their price targets. [Full Article...]

Fuel price hike: Petrol prices cross Rs 91 per liter in Mumbai

Fuel price hike: Petrol prices cross Rs 91 per liter in Mumbai Keeping up with its record-breaking climb, petrol prices today breached the Rs 91 mark in Mumbai . Prices of the fuel in Delhi, Kolkata , Mumbai and Chennai were Rs 75.09, Rs 76.94, Rs 79.09 and Rs 79.40 a litre respectively, up from the Sunday's Rs 74.79, Rs 76.64, Rs 79.40 and Rs 79.08 respectively. [Full Article...]

Elon Musk surrender set to boost Tesla shares

Elon Musk surrender set to boost Tesla shares Musk, a co-founder of Tesla , is the company's largest stockholder, owning approximately 22 per cent of its outstanding shares. Musk said he later decided against the plan. The $40 million in financial penalties "will be distributed to harmed investors under a court-approved process". "The resolution is meant to prevent further market disruption and harm to Tesla's shareholders", Peikin a... [Full Article...]

US, Canada agree on trade deal to save Nafta, announcement expected soon

US, Canada agree on trade deal to save Nafta, announcement expected soon But the deal failed to resolve United States tariffs on Canada's steel and aluminium exports. " NAFTA 2 will give certainty and stability to Mexican trade with its partners in North America". " We look forward to further deepening our close economic ties when this new agreement enters into force ", the statement reads. "So it's either going to be the text goes in with Mexico and the US, or th... [Full Article...]

Fuel price hike: Petrol and diesel prices continue to surge

Fuel price hike: Petrol and diesel prices continue to surge The price of petrol had already crossed the Rs 90-mark in more than 20 of Maharashtra's 36 districts. Petrol prices also rose in Bengaluru (₹84.15), Hyderabad (₹88.51), Chandigarh (₹80.36) and Ahmedabad (₹85.29) on Sunday. "The basic problem is that crude prices are volatile". As the meter calculating the amount is increasing, the display meter for litres poured is decreasing, making vehicles ow... [Full Article...]

Boeing wins $9 billion Air Force contract

Boeing wins $9 billion Air Force contract USAF has been training pilots in the Northrop T-38 for five decades, and while that venerable jet can still do the job (and the Air Force has plenty of experience with keeping planes in the air many years past their intended lifespan), problems began to arise. [Full Article...]

Ryanair staff strike in six EU countries

Ryanair staff strike in six EU countries As recently as August, Ryanair already experienced its largest ever episode of industrial action as pilots from Germany, Belgium, Ireland and Sweden participated in a Europe-wide strike. A key complaint of workers based in countries other than Ireland is the fact that Ryanair has been employing them under Irish legislation. It has rejected calls by the UK's Civil Aviation Authority to compe... [Full Article...]

Why Bed Bath & Beyond Stock Tumbled Today

Why Bed Bath & Beyond Stock Tumbled Today Bed Bath & Beyond on Wednesday reported that second quarter net sales were flat year-over-year, reaching about $2.9 billion. BBBY stock opened at $18.81 on Thursday. Its weekly and monthly volatility is 2.52%, 3.08% respectively. Bed Bath & Beyond Inc., together with its subsidiaries, operates a chain of retail stores. [Full Article...]

VW Teams Up With Microsoft To Develop Digital Services

VW Teams Up With Microsoft To Develop Digital Services German automaker Volkswagen AG (VOWG_p.DE) will use Microsoft Corp's Azure cloud platform to provide all future digital services and mobility offerings across its entire fleet, the companies said on Friday. The carmaker announced it would build a new cloud development center in North America to be located close to Microsoft's headquarters in Redmond, Washington. [Full Article...]

Amazon to open 'four-star' store in NY

Amazon to open 'four-star' store in NY The product assortment will vary widely, from Amazon's own devices and other consumer electronics to kitchen and home products, and from toys and games to books, Amazon's original focus. The store will also have local features like " Trending Around NYC " and "Top Selling Around NYC" that make it easy for customers to shop. All customers are welcome, and members of Amazon Prime pay the Amazo... [Full Article...]

These Real Estate Markets Face the Biggest Bubbles

These Real Estate Markets Face the Biggest Bubbles The report by Switzerland's biggest bank said that Vancouver, London and Amsterdam are also at risk of property market overheating. Major imbalances are also found in 10 other locations including Stockholm, Paris, San Francisco, Frankfurt and Sydney. [Full Article...]

SEC files complaint against Teslas Elon Musk

SEC files complaint against Teslas Elon Musk After weeks of speculation, the Securities and Exchange Commission is now taking Musk to task. He later said his " funding secured " comment was based on talks with Saudi Arabia's sovereign wealth fund , which he said had urged him to take the company private and offered to increase its investment in Tesla . [Full Article...]

The tweaked BMW i3 gets all the range

The tweaked BMW i3 gets all the range It will be the second time the automaker has upgraded the i3's battery since the electric car's 2014 launch . According to the Germans, the new i3 will be capable of achieving ranges of 260 km (162 miles), an increase of roughly 30 percent when compared to the existing version. [Full Article...]

Security breach allowed hackers to control 50 million Facebook accounts

Security breach allowed hackers to control 50 million Facebook accounts Law enforcement agencies have been informed of the breach, and the vulnerability is now fixed. A Facebook spokeswoman said it was too early to offer information on how many people in Australia were affected. In a post to the Facebook blog titled "Security Update", it was revealed by Guy Rosen, Facebook's Vice President of Product Management, that the company had once again fallen victim to a... [Full Article...]

Freeland postpones UN speech amid NAFTA talks and looming deadline

Freeland postpones UN speech amid NAFTA talks and looming deadline Speaking separately, Canada's ambassador to Washington said that on a scale of 1 to 10, the chances of an agreement by the September 30 deadline were 5. The U.S. has suggested it will forge a new NAFTA deal with just Mexico if it fails to reach an accord with its northern neighbor. Mexican Foreign Minister Luis Videgaray in recent days has raced the clock to bridge the gaps between the USA and... [Full Article...]

LAX allows pot in airport but TSA says it's still crime

LAX allows pot in airport but TSA says it's still crime Passengers 21 and older are now legally allowed to carry a maximum of 28.5 grams of the flower or 8 grams of the condensed variety. "The bottom line is that even if marijuana possession or cultivation is legal in a state, it is illegal under federal law to use an aircraft to transport marijuana to, from, or within that state", the FAA advisory stated. [Full Article...]

Deals: National Coffee Day 2018

Deals: National Coffee Day 2018 Community Coffee is celebrating National Coffee Day all week long with an offer of 30 percent off online purchases if you use the code COFFEEDAY2018. You'll need the McDonald's app, which is free and easily downloadable on any app store. 7-Eleven: Buy a breakfast sandwich for at least $2 on Saturday or Sunday and get a free coffee. [Full Article...]


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