Economy

Ethiopia Will 'Fully Accept' 2000 Peace Agreement with Eritrea

Ethiopia Will 'Fully Accept' 2000 Peace Agreement with Eritrea Abiy Ahmed , a former army officer who replaced Hailemariam as premier, has travelled around Ethiopia, promising to address grievances strengthen a range of political and civil rights. The agreement was the result of a border commission convened in 2000 after two years of bloody fighting between the two countries over disputed lands along the border, specifically the town of Badme. [Full Article...]

Heinz is planning to rename their Salad Cream and people aren't happy

Heinz is planning to rename their Salad Cream and people aren't happy Many people who responded to the survey told Heinz they were more likely to use Salad Cream as an alternative to mayonnaise - usually in tuna, ham or cheese sandwiches. United Kingdom sales of the brand dipped 5.4% to £28.8m in 2017. People don't understand how to eat it is the problem according to Heinz's Joel Hughes, who said: "As a market leading business, Kraft Heinz continues to audit its p... [Full Article...]

Conservative icon David Koch leaving business, politics | AP business

Conservative icon David Koch leaving business, politics | AP business David Koch is leaving his roles as government vice chairman and board member for Koch Industries and a subsidiary, Koch Chemical Expertise group, the place he served as chairman and chief government officer. "David has always been a fighter and is dealing with this challenge in the same way". While the Koch organizations were favorable of President Trump's tax plan, the trade policies created a... [Full Article...]

Burger King temporarily shut down after mice seen on buns back open

Burger King temporarily shut down after mice seen on buns back open According to the inspection report, rodent droppings were found inside the hamburger and chicken sandwich rolls. Andrea Wojcik, acting as a spokeswoman for the Division of Public Health said the Office of Food Protection received a complaint about the restaurant on Friday, June 1. [Full Article...]

Six banking bosses charged over $2.5b capital plot involving ANZ

Six banking bosses charged over $2.5b capital plot involving ANZ Also charged were Michael Ormaechea , Deutsche Bank's former Australian chief executive, Michael Richardson , Deutsche Bank's former head of equity capital markets for Australia and New Zealand, and Rick Moscati, ANZ's global head of treasury. [Full Article...]

No agreement yet between US, China on ZTE: Trump aide

No agreement yet between US, China on ZTE: Trump aide The preliminary deal includes a $1 billion fine and $400 million in escrow in case of future violations. Amidst the white-hot trade tension brewing between the worlds two most powerful superpowers, U.S. ZTE could not be reached for comment by either Reuters or the Post . It would also allow unfettered site visits to verify that USA components are being used as claimed by the company and post... [Full Article...]

Congress has few options to stop Trump from saving China's ZTE

That figure includes $1 billion to be paid upfront and $400 million placed in escrow in the event of any future violations. Moreover, the U.S. Commerce Department is expected to count the $361 million ZTE paid previous year as part of a settlement agreement, which will allow the government to claim no less than $1.7 billion in penalties. [Full Article...]

Germany's Bayer to complete Monsanto purchase on Thursday

Germany's Bayer to complete Monsanto purchase on Thursday Bayer announced its intention to acquire Monsanto in May 2016 and signed an agreement with the USA company for $128-per share in September 2016. Acquirers don't typically change the names of the companies they're buying when it's as well-recognized to its customers as Monsanto is, but in this case, it may be the best option. [Full Article...]

European Union to impose retaliatory tariffs on US imports from July

European Union to impose retaliatory tariffs on US imports from July Sefcovic said that formalities in finalizing the list should be completed this month. President TrumpDonald John TrumpSix takeaways from 2018's Super Tuesday Dem Andrew Janz advances in bid to unseat Nunes Montana GOP candidate Rosendale to take on Tester in November MORE announced last week that he would place a 25 percent tariff on imported steel and a 10 percent tariff on imported a... [Full Article...]

After Kairana setback, Cabinet approves Rs 8,000 cr package for sugar sector

After Kairana setback, Cabinet approves Rs 8,000 cr package for sugar sector The package will also include a major scheme worth more than Rs 4,400 crore for increasing the ethanol capacity in the country which will help in diversion of sugarcane for production of ethanol in surplus season to facilitate timely payment of sugarcane dues to the farmers. [Full Article...]

Chris Grayling under pressure to face MPs as train disruption continues

Chris Grayling under pressure to face MPs as train disruption continues The move was designed to create a more reliable service while the operators train drivers on different routes and introduce new trains. "People who commute from Lewes, Polegate, Seaford, Newhaven and many more stations have had to endure not just the timetable changes, but 18 months of strike action and 18 months of misery while the London Bridge works were happening, and we now have fewer tra... [Full Article...]

RBI raises repo rate to 6.25%, reverse repo rate to 6%

RBI raises repo rate to 6.25%, reverse repo rate to 6% In addition, all the six members of the committee voted unanimously to hike repo rate by 25 basis points. The central bank had chose to hold the repo rate at 6% in its April policy meet. The hike comes after a long gap of four years. "The decision of the Monetary Policy Committee (MPC) is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the me... [Full Article...]

Buffalo Wild Wings apologizes for racist comments posted on Twitter

Buffalo Wild Wings apologizes for racist comments posted on Twitter The tweets were posted on Friday on the company's verified account, which has more than 700,000 followers. Another post attacked film producer and writer Tariq Nasheed with a racial slur. It's also uncertain if Buffalo Wild Wings employed two-factor authentication, a common security feature and best practice for locking down Twitter accounts. [Full Article...]

Oil climbs, but record U.S. crude output, higher Opec supplies drag

Oil climbs, but record U.S. crude output, higher Opec supplies drag Last week , the week after Memorial Day, the US contract lost about 3 percent after a decline of almost 5 percent the previous week. US crude inventories dropped by 3 million barrels last week, according to the median estimate in a Bloomberg survey. [Full Article...]

Undertaker Set to Make Madison Square Garden Return

Undertaker Set to Make Madison Square Garden Return After a loss to Roman Reigns at WrestleMania 33 previous year, everyone thought that The Undertaker was retired and that his career was done. The arena has announced that she will be facing RAW Women's Champion Nia Jax. Even though this is going to be a WWE Live Event (house show) on a Saturday night, WWE is still planning on making this a big thing. - Above is new video of WWE U... [Full Article...]

IHOP announces name change

IHOP announces name change Now, 45 years later, IHOP appears to be heading for another tweak. "Now, we're flippin' our name to IHOb". Find out what it could b on 6.11.18. The company will announce the likely name change on June 11. The pancake chain, in a tweet Monday morning, suggested that it would change its name from "IHOP" to "IHOb" starting June 11. IHOP is closing as many as 40 existing restaurants this year and ... [Full Article...]

Elon Musk will stay on as Tesla chairman despite attempted investor coup

Elon Musk will stay on as Tesla chairman despite attempted investor coup The two positions are often held by the same person in United States companies, unlike in United Kingdom firms. Elon Musk will stay on as chairman of Tesla despite an attempt by a group of investors to oust him at an annual meeting in northern California on Tuesday. [Full Article...]

Kudlow: President Trump Contemplating Separate Trade Deals with Canada, Mexico

Kudlow: President Trump Contemplating Separate Trade Deals with Canada, Mexico According to the United States Trade Representative's office, the USA had a $17.5 billion dollar goods deficit with Canada in 2017, but an overall surplus of $8.4 billion with Canada in 2017, with services, are included. "We like eating fresh strawberries and avocados in winter" - two products imported from Mexico. In fact, Mexico consumes an enormous amount of American agricultural products. [Full Article...]

MyHeritage DNA testing service says breach affected 92M users' data

MyHeritage DNA testing service says breach affected 92M users' data The security breach, discovered by a researcher, includes all the email addresses of MyHeritage users who signed up through October 26, 2017. The genetic analysis and family tree website MyHeritage was breached past year by unknown actors, who exfiltrated the emails and hashed passwords of all 92 million registered users of the site. [Full Article...]

Lord & Taylor Is Closing 10 Stores Including Its Fifth Avenue Flagship

Lord & Taylor Is Closing 10 Stores Including Its Fifth Avenue Flagship The cleanup continues at Hudson's Bay Co ., the owner of Saks Fifth Avenue. Foulkes said she will work with HBC's slate of newly minted executives in technology, marketing and at Lord & Taylor and act quickly to improve results. She said she reorganized management there to have experienced executives run different regions and report directly to her. She did not go as far as saying she was rea... [Full Article...]


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