Finance

China warns United States against trade sanctions as talks end

China warns United States against trade sanctions as talks end China is willing to increase imports from multiple countries including the United States, Xinhua said , adding that reform and opening up and increasing domestic demand were China's national strategy. But the truce appeared to end with this week's announcement Washington was going ahead with tariff increases on technology goods and would also impose curbs on Chinese investment and purchases of ... [Full Article...]

Google won't renew contract for Project Maven, controversial Pentagon drone program

According to a report by Gizmodo , Google has decided not to renew its controversial contract for Project Maven with the Department of Defense. Tech publication Gizmodo first reported on Google Cloud Chief Executive Diane Greene's statement to employees on Friday, which one source confirmed. [Full Article...]

Passenger's 'unbearable' body odour forces plane to make emergency landing

Passenger's 'unbearable' body odour forces plane to make emergency landing A plane to Spain was forced to make an emergency landing not because of any technical issue or a mishap but due to a very unusual reason. He added: "It was like he hadn't washed himself for several weeks". The plane then landed in Faro in southern Portugal where the man was escorted out of the flight. A picture taken by one of the passengers show medical personnel taking the smelly man fr... [Full Article...]

Amazon To Stop Shipping To Australia From Overseas Stores

Amazon To Stop Shipping To Australia From Overseas Stores Australian shoppers using Amazon's global site will be unable to place orders, with the retail giant stopping shipping due to new GST rules. Amazon will block Australia-based customers from buying products on its overseas sites when the goods and services tax is applied to all imported e-commerce items in July. [Full Article...]

ECB's Deutsche Bank defense shows concern and irritation

ECB's Deutsche Bank defense shows concern and irritation Deutsche Bank shares fell 6 percent Thursday. The ratings agency lowered Deutsche Bank's credit rating to BBB+ from A-, saying the bank's wide-ranging restructuring faces "execution risks" and will take time to return the bank to steady profitability. [Full Article...]

Govt to review Air India deal after sale plan flops

Govt to review Air India deal after sale plan flops The government may look to raise a record 1 trillion rupees ($15 billion) from the sale of state assets in the current fiscal year that started on April 1, and Air India was expected to be a significant contributor. Air India has an operating fleet of over 115 aircraft and is the largest worldwide carrier from the country with an estimated market share of 19%. The government plans to sell 76 per... [Full Article...]

Another Alberta multi-million dollar lottery victor

A $1-million victor was also purchased in nearby Mississauga. 6 Maxmillions prizes, worth $500,000 each, were sold in Brampton area, Richmond Hill, the Thunder Bay area, Sault Ste. For each $5 play, Lotto Max players receive three sets of seven numbers ranging from one to forty-nine. The odds of winning the jackpot or a Maxmillions prize, however, are of course exponentially smaller. [Full Article...]

Grayling blasts timetable changes, says industry 'failed passengers'

Grayling blasts timetable changes, says industry 'failed passengers' He said he and the rail minister, Jo Johnson, were in daily conversations with Network Rail and Govia Thameslink Railway (GTR), which runs the affected Southern, Gatwick Express, Thameslink and Great Northern services, to resolve the situation. [Full Article...]

Samsonite CEO quits after doctorate drama

Samsonite CEO quits after doctorate drama Chief executive officer (CEO) Ramesh Dungarmal Tainwala has resigned from the company, citing personal reasons , with immediate effect. Before Samsonite , the then-director of Glaucus Research Group, targeted Australian money manager Blue Sky Alternative Investments Ltd., whose shares fell nearly 80 percent after Aandahl's report . [Full Article...]

Australia's minimum wage to rise 3.5 percent, no inflation pressure seen

Australia's minimum wage to rise 3.5 percent, no inflation pressure seen The Australian Industry Group, which proposed a $12.50-a-week rise, labelled the increase "excessive" and said it had the potential to be a major disincentive to employment. The minimum wage for liquor servers, resident caretakers and live-in camp leaders will also increase. "Monthly retail sales growth is now around 2%, however, we would like to see this growth increase to 4% to ensure retaile... [Full Article...]

Oil prices steady after shake-out on supply worries

Oil prices steady after shake-out on supply worries OPEC countries may decide in June to lift output to make up for reduced supply from Iran and Venezuela and in response to concerns from Washington about a rally in oil prices. " Saudi Arabia won't let oil prices go to $100 because they listen to Trump", a Kuwaiti oil official told The Wall Street Journal . "The increase in output will be dictated by market conditions and all the numbers ci... [Full Article...]

USA oil rig count little changed amid drawdown of inventories, record production

USA oil rig count little changed amid drawdown of inventories, record production Independent Chinese refineries, known as teapots, have even started reselling cargoes of West African crude to buy cheaper Brazilian or US oil, according to traders. Over the past few weeks, there has been a lot of pressure on Opec to even out the market by increasing supply in lieu of the decreased output from both Iran and Venezuela . [Full Article...]

FCA reveal new high-cost credit proposals

FCA reveal new high-cost credit proposals Further, it's also consulting on whether to ban the sale of extended warranties at the point of sale, helping to save consumers almost £8m a year. High cost credit also covers unarranged bank overdrafts and the watchdog said it was consulting publicly on mandatory rules to make it easier for customers to manage their bank accounts and avoid punitive charges for unarranged overdrafts. [Full Article...]

ANZ, Deutsche Bank, Citigroup face 'criminal cartel' charges

ANZ, Deutsche Bank, Citigroup face 'criminal cartel' charges The allegations concern arrangements for the sale of a $2.5 billion ($1.9 billion) worth of ANZ shares in 2015, the BBC reported . ANZ said it would also fight the accusations against Moscati. ANZ said it believed that it had acted in accordance with the law and meant to defend itself. That news came at the same time as Deutsche Bank's US subsidiary was added to the US Federal Deposit Ins... [Full Article...]

Northern apologises for rail timetable chaos - and axes train services on Monday

Northern apologises for rail timetable chaos - and axes train services on Monday Transport union RMT said railway workers were "bearing the brunt of public anger", criticising the train companies and the Department of Transport for a lack of support. Bosses with train operator Northern have said sorry to passengers for the "unacceptable" state of its services following a huge timetable shake-up. [Full Article...]

How new Qantas and Air New Zealand deal will benefit travellers

How new Qantas and Air New Zealand deal will benefit travellers The move comes after a recent decision by Air New Zealand not renew its trans-Tasman alliance with Qantas rival Virgin Australia . The deal also opens up new destinations for customers, with regional Australia set to benefit the most, Qantas chief executive Alan Joyce said. [Full Article...]

B.C.’s minimum wage increasing to $12.65/hour on June 1st

B.C.’s minimum wage increasing to $12.65/hour on June 1st A controversial study conducted in 2017 appeared to bolster that position when researchers at the University of Washington found that the costs of a minimum-wage increase in Seattle - the result of employer cutbacks in workers' hours - outweighed the benefits of the increase by 3 to 1. [Full Article...]

Canada Joins EU?In Filing WTO Case Against "Illegal" US Tariffs

Canada Joins EU?In Filing WTO Case Against The U.S. has also now started a consultation on potential new trade measures concerning cars and vehicle parts. US Chamber of Commerce president Tom Donohue warned in a letter to the body's board that current trade policies could threaten economic progress and cause the loss of more than 2 million jobs, mostly in states that voted for Trump. [Full Article...]

ShoppingTown Sears employees say store will close in September

ShoppingTown Sears employees say store will close in September Here's the full list of the 63 more stores Sears said it is closing. Sears shareholders argued that the "highly conflicted transaction" would probably "plunge the company into insolvency". Sears has cut its store count in half within the last five years. The latest closings underscore the deep-rooted problems for the former powerhouse retailer that survived two world wars and the Great Depr... [Full Article...]

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

Fiat, Chrysler brands looking at major changes but not dead yet We plan to leverage the iconic status and technology of the 500, extending the line-up to introduce a small auto with best in-class interior roominess and unmistakable deisgn, the Fiat 500 Giardiniera. As a result, the plan is to build on the strengths of its city vehicle segment where the Fiat 500 and Panda hold a third of the segment in many markets and develop new technologies to allow these mo... [Full Article...]


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