Economy

Microsoft blames chip supply issues for drop in Windows revenue

Microsoft blames chip supply issues for drop in Windows revenue Gaming was a bit mixed, given the holiday quarter: Overall revenue grew 8 percent, and Xbox software and services jumped 39 percent. Microsoft's cloud services, led by products like Azure and Office 365, have been growing in double digits as more businesses eliminate the costs of maintaining their own servers by moving their technical operations to the cloud. [Full Article...]

Chinese trade deal 'unacceptable' unless Beijing opens markets

Chinese trade deal 'unacceptable' unless Beijing opens markets The White House also plans to hike tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent. Chinese officials deny that their policies coerce technology transfers. The United States and China launch a critical round of trade talks on Wednesday amid deep differences over U.S. demands for structural economic reforms from Beijing that will make it hard to reach a deal b... [Full Article...]

PG&E, linked to string of wildfires in California, files for bankruptcy

PG&E, linked to string of wildfires in California, files for bankruptcy In addition to leading to higher bills and smaller wildfire damages, it could jeopardize California's ambitious program to switch entirely to renewable energy sources. Gavin Newsom said in a statement . Consumer activist Erin Brockovich , who famously took on PG&E in the 1990s, had urged California politicians not to let the utility go bankrupt because it could mean less money for wildfire vic... [Full Article...]

Tesla earnings miss expectations, shares slip

Tesla earnings miss expectations, shares slip Musk gave a "rough guess" that Tesla would begin building its originally promised $35,000 version around the middle of this year. The departure of Deepak Ahuja as well as missing Wall Street profit targets for the end of 2018, sent Tesla shares down almost 6 percent after hours. [Full Article...]

Nissan, Renault, M'bishi group remains 2nd in global sales

Nissan, Renault, M'bishi group remains 2nd in global sales In his first interview since he was arrested on November 19, Mr Ghosn said he had spoken to Nissan chief executive Hiroto Saikawa about the "plan to integrate" the companies in September. He also expressed hopes Ghosn may still be able to be released on bail. "I won't flee, I will defend [myself]", Ghosn said. The embattled former chairman of Nissan has claimed his arrest over almost £60m of a... [Full Article...]

Alibaba revenue growth slows to weakest pace in three years

Alibaba revenue growth slows to weakest pace in three years Alibaba Group Vice Chairman and Co-founder Joe Tsai, in remarks made to analysts Wednesday morning and emailed to Retail Dive, pushed back against the idea that any of that would cause much of a ripple for the company's fortunes - echoing comments by Alibaba Group President J. [Full Article...]

Unemployment on the rise due to Modi's 'pakodanomics': Kapil Sibal

Unemployment on the rise due to Modi's 'pakodanomics': Kapil Sibal Amid reports that the government withheld the National Sample Survey Organisation's (NSSO) first "Annual Survey on Employment and Unemployment " for the year 2017-18, Kumar issued a clarification today saying, "Data collection method is different now, we are using a computer-assisted personal interviewee in the new survey". [Full Article...]

Stocks soar after Federal Reserve announces pull-back

Stocks soar after Federal Reserve announces pull-back The dollar weakened against other currencies as traders anticipated that US interest rates would remain low for longer than previously expected. Powell took advantage of a new regimen of press conferences after every policy meeting to lay out the series of touchy changes and insist the Fed was only reacting to economic data, not other pressures. [Full Article...]

Foxconn changing its plans in massive Wisconsin deal hailed by Trump

Foxconn changing its plans in massive Wisconsin deal hailed by Trump Louis Woo, the special assistant to Foxconn chief executive Terry Gou, told the press service that the company was still considering its options in Wisconsin, but said the cost of manufacturing TVs in the USA was simply too high. "America is open for business more than it has ever been open for business". "In a short time, Foxconn has made a positive impact across Wisconsin with more than 1,00... [Full Article...]

Venezuela prosecutor moves on popular opposition leader

Venezuela prosecutor moves on popular opposition leader Venezuela's President Nicolas Maduro holds a copy of the Venezuelan constitution while he speaks during a meeting with members of the Venezuelan diplomatic corp after their arrival from the United States, at the Miraflores Palace in Caracas, Venezuela , Jan. [Full Article...]

China's Huawei denies criminal charges brought by US

China's Huawei denies criminal charges brought by US Department of Justice (DOJ) on Monday. Meng has been living in her home in the 4000-block of West 28th Avenue since December 11, 2018, when she was released on strict conditions after her December 1 arrest at the Vancouver airport. Trudeau sidestepped the question and reiterated taking points about how the government is devoted to the rule of law and remains committed to marshalling worldwide su... [Full Article...]

U.S. lifts sanctions on blacklisted Russian tycoon's companies

U.S. lifts sanctions on blacklisted Russian tycoon's companies In a stock exchange filing, the firm, formally known as United Company RUSAL Plc, also said Philippe Bernard Henri Mailfait had resigned as an independent non-executive director effective January 26 due to other business commitments. "Any deal with Canada would allow 2.5 million tonnes of primary aluminum to enter the USA duty-free and significantly dilute the proportion of US imports from duty-... [Full Article...]

3M Shakes Off Global Worries as Profit, Sales Exceed Estimates

3M Shakes Off Global Worries as Profit, Sales Exceed Estimates Caterpillar shares fell more than 5 per cent in pre-market trading, which would be the biggest decline this year. The S&P 500 index fell 20.91 points, or 0.8 per cent, to 2,643.85. Advanced Micro Devices Inc, due to report Tuesday, gets about a third of its revenue from China, based on Refinitiv's data, while Apple's results also are due Tuesday. [Full Article...]

Chicken nuggets recall: Tyson recalls chicken nuggets over rubber contamination

Chicken nuggets recall: Tyson recalls chicken nuggets over rubber contamination The product was recalled after complaints of extraneous material in the chicken nuggets, specifically rubber contamination. FSIS was notified on January 29, 2019. They also have an establishment number of "P-369" inside the USDA mark of inspection. FSIS is concerned that some product may be in consumers' refrigerators. [Full Article...]

Vale sacrifices output to decommission dams after Brazil disaster

Vale sacrifices output to decommission dams after Brazil disaster Rescue workers walk on a rail bridge that was destroyed. A German company that has inspected the dam said two of its employees were arrested. "I want news, even if it's bad". The overwhelming majority of the dead and missing are Vale employees or contractors, buried in up to 15 meters (50 feet) of mud that stretched for 12 kilometers (eight miles) and was at some points up to 300 meters (yards) ... [Full Article...]

Venezuela: Frustrated poor losing faith in beleaguered Maduro

Venezuela: Frustrated poor losing faith in beleaguered Maduro The Supreme Court's order comes as tensions between the US and Venezuela reach a new high, with Maduro accusing the Trump administration of staging a coup against his presidency and Guaido seeking to consolidate an interim government under his own leadership. [Full Article...]

Nissan says it's 'co-operating fully' with inquiry by US SEC

Nissan says it's 'co-operating fully' with inquiry by US SEC While both companies have repeatedly said they are committed to the partnership, Nissan has always been unhappy about what it considers an outsize French role in the alliance, whose third member is Mitsubishi Motors. Both men deny wrongdoing. Bloomberg said the SEC usually has enforcement authority over ADRs. In a memo to staff last month, Nissan Chief Executive Officer Hiroto Saikawa, who s... [Full Article...]

Mail delivery in some parts of USA suspended due to cold

Mail delivery in some parts of USA suspended due to cold All mail will be held at your local post office until you're ready to receive it. A wind chill warning is in effect for parts of northwestern Missouri from 6 p.m. USPS originally said services would be suspended in both Kansas and Missouri, but later corrected that information to say the suspension will only affect portions of Missouri and Kansas. [Full Article...]

Porsche Taycan, Electrify America shutdown, Mazda plans

Porsche Taycan, Electrify America shutdown, Mazda plans Around 300 of these spots will be located on highways, spaced no more than 190 kilometres apart. Stations will average five chargers apiece, though some locations will have more than 10. Owners will also be able to charge the sedans at Porsche dealers across the nation. Electrify America's map for its USA charging network. The Porsche Experience Center (PEC) in Atlanta, GA already hosts the co... [Full Article...]

US imposes sanctions on Venezuelan state oil firm PDVSA

US imposes sanctions on Venezuelan state oil firm PDVSA The action would bolster Guaido, he said, while accusing Maduro's regime of "human rights violations and abuses in response to anti-Maduro protests, arbitrary arrest and detention of anti-Maduro protesters, curtailment of press freedom, harassment of political opponents, and continued attempts to undermine" Guaido's government-in-waiting. [Full Article...]


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