Economy

Jaguar Land Rover drives Tata Motors to biggest quarterly loss

Jaguar Land Rover drives Tata Motors to biggest quarterly loss The overall performance continued to be impacted by challenging market conditions in China , Ralf Speth, head of Jaguar Land Rover , said in a statement on Thursday. JLR's China retail sales nearly halved in the quarter as demand for cars from the Asian economic powerhouse shrank for the first time since the 1990s. [Full Article...]

Twitter Shares Tank Despite Big Revenue and Profit Gains

Twitter Shares Tank Despite Big Revenue and Profit Gains Monthly active users on the social media platform fell to its lowest in two years and for a third consecutive quarter. "2018 is proof that our long-term strategy is working", chief executive Jack Dorsey said in a statement . The company in 2018 marked its first full year of profitability under generally accepted accounted principles. For instance, earlier this week Snapchat reported that i... [Full Article...]

Jeff Bezos accuses National Enquirer of photo blackmail

Jeff Bezos accuses National Enquirer of photo blackmail After the tabloid published a story about his extramarital affair last month, Mr. Bezos ordered a team of private investigators to get to the bottom of how the Enquirer obtained risque texts between the executive and former TV anchor Lauren Sanchez . [Full Article...]

Tesla Model 3 price cut again, now starts at $42,900

Tesla Model 3 price cut again, now starts at $42,900 A Tesla Model 3 now starts at $58,600 CAD for the Mid Range Battery , Rear-Wheel Drive model in Canada. In Colorado, drivers travelling an average of 12,000 miles (a conservative value that is less than the state's average 13,443 annual miles ) and accessing the state's $US5,000 incentive can essentially buy the mid-range Model 3 for under $US30,000 ($A42,220). [Full Article...]

Regional banks BB&T, SunTrust join to create $66B operator

Regional banks BB&T, SunTrust join to create $66B operator BB&T is merging with SunTrust, in a deal worth some $66 billion. "This gives us the opportunity to be absolutely the most competitive bank". Analysts largely expect regulators to approve the deal, although it will likely draw scrutiny from vocal bank critics like USA senators Elizabeth Warren and Bernie Sanders. [Full Article...]

Oil falls 1 percent as supply concerns fade

Oil falls 1 percent as supply concerns fade Weighing on oil markets, US government data showed new orders for USA -made goods unexpectedly fell in November, with sharp declines in demand for machinery and electrical equipment. "Because the number was a little disappointing, it played into the slowing demand scenario", said Phil Flynn, oil analyst at Price Futures Group in Chicago. [Full Article...]

NAB CEO vows to stay on despite Hayne pain

NAB CEO vows to stay on despite Hayne pain Even before the release of its final report , the inquiry has already pushed top executives out of their jobs and prompted billions of dollars of customer remediation payments. And he specifically noted that engaging in dishonest conduct in relation to a financial product carries a maximum penalty of 10 years in prison under the Corporations Act. [Full Article...]

RBI cuts repo rate in first policy review under new governor

RBI cuts repo rate in first policy review under new governor The repo rate is the rate at which the Reserve Bank lends short-term money to the banks, while the reverse repo rate is the rate at which the central bank borrows money from commercial banks. Data released by the Central Statistics Office (CSO) showed consumer price index (CPI) based inflation at an 18-month low of 2.19 per cent in December against 2.33 per cent a month ago, as food prices continu... [Full Article...]

Oil falls on U.S

Oil falls on U.S U.S. West Texas Intermediate ( WTI ) crude futures fell 70 cents , or 1.27 percent, to settle at $54.56 a barrel. USA government data on Wednesday showed that domestic crude inventories rose less than expected last week even as refineries hiked output. [Full Article...]

United Nations warns of massive global impact of USA plan

United Nations warns of massive global impact of USA plan Other countries set to benefit from the trade tensions include Australia, with 4.6 per cent export gains, Brazil (3.8) India (3.5), Philippines (3.2) and Vietnam (5), the study said. The report indicated that the European Union stood to benefit the most, with companies in the bloc likely to capture around $50 billion of Chinese exports to the US and about $20 billion of USA exports to China. [Full Article...]

Democratic Response To Trump's 2019 State Of The Union Address

Democratic Response To Trump's 2019 State Of The Union Address President Trump's appeals for bipartisanship in his State of the Union address clashed with the rancorous atmosphere he has helped cultivate in the nation's capital - as well as the desire of most Democrats to block his agenda during his next two years in office. [Full Article...]

European Union nations back Venezuelan opposition leader

European Union nations back Venezuelan opposition leader Venezuela's President Nicolas Maduro and his wife Cilia Flores wave while they walk next to soldiers during a ceremony to commemorate the 27th anniversary of late Venezuelan leader Hugo Chavez coup attempt in Maracay, Venezuela, February 4, 2019. [Full Article...]

GM set to begin 4,000 white collar layoffs on Monday

GM set to begin 4,000 white collar layoffs on Monday GM expects the moves to contribute $6 billion in annual cash savings by 2020 - $4.5 billion in cost reductions and $1.5 billion in lower capital expenditures. Trump is due to tout his economic successes on Tuesday during the annual State of the Union address to Congress. Overall, Trump is presiding over a strong American economy. [Full Article...]

Ryanair Reorganizes Exec Team as It Falls to Loss

Ryanair Reorganizes Exec Team as It Falls to Loss Stronger ancillary revenue growth, of 26 per cent to €557 million for the quarter, was again offset by higher fuel, staff and Brexit preparation costs. "In our view, Ryanair remains the long-term victor in the European airline industry, based on its leading market position, extensive network, low unit costs and strong balance sheet", said analysts at stockbroker Liberum in a note to investors. [Full Article...]

HMV sold to Canadian firm Sunrise Records

HMV sold to Canadian firm Sunrise Records A list of those set to close has not yet been published, but it was business as usual in the Grand Arcade branch on Tuesday morning and this outlet, which only opened in November after a five-year Wigan hiatus, did not appear on a long "at risk" list published when the firm first called in the administrators. [Full Article...]

Tesla to buy battery firm Maxwell Technologies for $218m

Tesla to buy battery firm Maxwell Technologies for $218m Tesla does not invest lightly, as can be seen with its acquisition of Grohmann Automation, which gave it a competitive advantage and a way to maximize automation in the Tesla Model 3 production lines to get the vehicle to scale faster. Maxwell's customers also include General Motors and Lamborghini . Future supercaps, however, will charge a lot faster than lithium-ion batteries (a few minutes c... [Full Article...]

Google parent company reports impressive growth in Q4 and FY 2018

Google parent company reports impressive growth in Q4 and FY 2018 Alphabet's fourth-quarter revenue rose 22 percent from a year ago to $39.28 billion, compared with Wall Street's average estimate of $38.93 billion, according to IBES data from Refinitiv. It barely brushed that mark in the fourth quarter, but that's a hard pace to keep up for a company with more than $100 billion in sales. Other businesses, such as health venture Verily and self-driving start-up... [Full Article...]

Cryptocurrency investors locked out of $190m after exchange founder dies

Cryptocurrency investors locked out of $190m after exchange founder dies He took sole responsibility for the handling of funds and coins and the banking and accounting side of the business and, to avoid being hacked, moved the "majority" of digital coins into cold storage. For those who missed the memo, QuadrigaCX , once Canada's largest and most popular BTC-focused exchanges, has always been under pressure. "I would probably avoid [cryptocurrency] in the future", Q... [Full Article...]

SpaceX just fired its new Starship engine and it sure was neat

SpaceX just fired its new Starship engine and it sure was neat Space X's Starship Raptor rocket engine is part of the company's ambition to transport humans to the moon and beyond. Musk didn't say exactly when the test fire footage was taken, but last week he shared a photo of someone standing next to the long-developing engine, which gives a sense of the Raptor's size. [Full Article...]

GM Will Start Laying Off More Than 4,000 Workers on Monday

GM Will Start Laying Off More Than 4,000 Workers on Monday The automaker expects the moves to help save up to $2.5 billion in costs this year and a total of $6 billion by 2020. The layoffs were first announced in November, along with plans to close four plants - two in MI, one in OH, and one in Ontario. [Full Article...]


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