Finance

Uber's Q1 losses reach $1B despite revenue growth

Uber's Q1 losses reach $1B despite revenue growth Uber Technologies Inc reported a US$1 billion loss in its first quarterly report as a public company on Thursday, despite a 20 per cent rise in revenue , posting results in line with its forecasts but underscoring the challenges the ride-hailing service faces to become profitable one day. [Full Article...]

Mobile, Sprint considering divesting wireless spectrum

Mobile, Sprint considering divesting wireless spectrum Department of Justice could have a very specific - and outrageous - demand in mind before it will approve the T-Mobile-Sprint merger . Amazon wants to buy a mobile wireless service. Amazon, which started out selling books, has a long history of exploring new ventures, such as making original TV shows for Amazon Prime members. [Full Article...]

Dollar Tree items will soon cost you more than $1

Dollar Tree items will soon cost you more than $1 Dollar Tree, which has more than 15,000 stores nationwide, acquired Family Dollar in 2015 for almost $9 billion. The discount retailer plans to close almost 400 stores this year, with most of the closures planned for the second quarter. Those items are under the new Dollar Tree Plus! label. It essentially means that some locations will sell items for more than the usual price of $1. Dollar Tre... [Full Article...]

President Donald Trump announces 5% tariff on all goods from Mexico

President Donald Trump announces 5% tariff on all goods from Mexico If the crisis persists, however, the Tariffs will be raised to 10 percent on July 1, 2019. Fox News' Gregg Re reports that White House sources have indicated that Mexico "needs to step up security efforts on the border, target transnational smugglers, crack down on illicit bus lines, and align with the USA on a workable asylum policy" and that "there are choke points on the southern border tha... [Full Article...]

Uber will start booting riders with low ratings

Uber will start booting riders with low ratings Riders and drivers can rate each other on a scale of 1 to 5. Uber, however, said that bans for bad behavior won't come as a surprise to offending passengers. The rating has to be "significantly" lower than the average rider rating, the company states, and these riders will first be given opportunities to improve their ratings. [Full Article...]

Huawei Asks For Quick Ruling Against US Ban

Huawei Asks For Quick Ruling Against US Ban The motion for summary judgment filed by the tech giant with the Eastern District Court of Texas seeks a judge's decision on newly imposed restrictions on Huawei products without going to a full trial. The US has launched a crackdown on Huawei , including adding the Chinese company to a trade blacklist which banned Huawei from accessing any US technologies without special approval. [Full Article...]

China considers US rare earth export curbs, reports Chinese media

China considers US rare earth export curbs, reports Chinese media Although the tabloid Global Times is not one of China's official media , it is widely read and is published by the ruling Communist Party's People's Party newspaper. Other countries that supply rare earths to the US include Australia, Estonia, France and Japan. In the Senate, Lisa Murkowski of Alaska and Joe Manchin of West Virginia introduced bipartisan legislation in April, which aims to ... [Full Article...]

Hong Kong’s Alibaba craze may finally pay off with mega

Hong Kong’s Alibaba craze may finally pay off with mega In 2014, the e-commerce giant raised US$25 billion on the NYSE, choosing the USA over Hong Kong at that time as the latter did not offer dual-class offerings. A Hong Kong listing would give mainland investors their first direct access to one of China's biggest success stories, via the stock connect trading link between Hong Kong, Shanghai and Shenzhen. [Full Article...]

Air Canada computer issues causing flight delays across the country

Air Canada computer issues causing flight delays across the country Passengers at Calgary International Airport confirmed the outage began shortly after 6 p.m. MT and initially prevented the boarding of planes. Air Canada officials confirm the airline experienced a "computer technical issue" Tuesday night that affected airport operations, check-in, and customer call centres but the systems are back online. [Full Article...]

Huawei says FedEx redirected packages to the US

Huawei says FedEx redirected packages to the US The two packages originating from Hanoi on May 17, destined for Huawei's Hong Kong and Singapore offices, were held up after arriving in local FedEx stations in Hong Kong and Singapore on May 21 for "delivery exception", according to other images Huawei showed Reuters . [Full Article...]

MacKenzie Bezos pledges half her fortune to charity after Amazon divorce

MacKenzie Bezos pledges half her fortune to charity after Amazon divorce MacKenzie is pledging half her fortune to charity, following in the footsteps of billionaires Warren Buffett and Bill Gates . Jeff Bezos-who is now dating TV anchor Lauren Sanchez and has a net worth of $114 billion-said in a 2017 tweet , "I'm thinking about a philanthropy strategy that is the opposite of how I mostly spend my time-working on the long term". [Full Article...]

Large snake hiding in shopping cart rattles Walmart worker

That scream was prompted by a "large rat snake" that slithered its way into a couple shopping carts, the Northeast Police Department posted to Facebook. So be on the lookout for snakes, they could be anywhere. According to the post, the snake was identified as a nonvenomous rat snake. The Northeast Police Department's Facebook post has gone viral with over 1,500 "shares" and hundreds of ... [Full Article...]

What to say instead of 'Happy Memorial Day'

What to say instead of 'Happy Memorial Day' The Barefoot Bay Memorial Day Parade will be May 27, 2019, at 10:30 a.m. Miami-Dade curbside recycling service customers whose recycling collection day falls on Monday are advised to place their blue recycling carts at the curb by 7 a.m. A parade will begin at 9 a.m. Monday the Mohawk American Legion Post 25 on West Main Street, which will end with a memorial service at the cemetery. [Full Article...]

Bruins’ Marchand expected to play in Game 1 of Cup Final

Bruins’ Marchand expected to play in Game 1 of Cup Final But the Bruins outshot the Blues 18-3 in the second period - and 38-20 in the game - to take the opener in the best-of-seven series. The Blues and Bruins open the 2019 Stanley Cup Final at 8 p.m. Louis in a game they were sometimes sorely outplayed in, so maybe the Blues can improve if they even out the overall level of play? The crowd, which had previously been most excited to see the 2011 ch... [Full Article...]

Aldi recalls flour that could be contaminated with E. coli

Aldi recalls flour that could be contaminated with E. coli The CDC reported that 17 people so far have been infected with E. coli in eight states since the outbreak started on December 11, 2018, through April 18, 2019. In a statement, Aldi advised customers who have purchased the recalled flour to discard it immediately or return it to their local store for a full refund. [Full Article...]

Instant Expert: The Huawei ban explained

Instant Expert: The Huawei ban explained The company also had a year-on-year growth of 50% according to IDC . Device shipments were up 50 per cent in the first quarter, bucking a slump in the broader market, but Yang said those gains could be reversed if the Trump administration's ban on exports to Huawei by USA suppliers amid a broader U.S. [Full Article...]

FCA officially proposes merger with Groupe Renault

FCA officially proposes merger with Groupe Renault Renault said its board would meet on Monday to discuss the offer. Both Fiat and Renault went through dramatic changes at the top a year ago after former Fiat chief, Sergio Marchionne , died and Carlos Ghosn , who was chairperson of the Franco-Japanese alliance, was arrested in Tokyo on charges of financial crimes. [Full Article...]

Fiat Chrysler proposes merger with French carmaker Renault

Fiat Chrysler proposes merger with French carmaker Renault The "broad and complementary brand portfolio would provide full market coverage, from luxury to mainstream", it added. Both companies stand to gain tremendously from such a deal, with Renault accessing the North American market, while FCA would gain entry in the Russian market - a space now occupied by Renault with major sales. [Full Article...]

Panasonic halting business with Huawei after United States ban

Panasonic halting business with Huawei after United States ban Overseas markets only account for a small share of its business and iFlytek already had a plan in place to cope with an "extreme situation" that threatened its supply of foreign components used in certain consumer products, the statement said. [Full Article...]

Former Jet Airways chief Naresh Goyal & wife deplaned minutes before London flight

Former Jet Airways chief Naresh Goyal & wife deplaned minutes before London flight The agency also quoted Jet Airways sources saying that the couple was travelling with four big-sized suitcases. The incident took place at around 4 p.m. " Emirates is co-operating fully with relevant authorities & we abide by the laws of various countries we operate in", an Emirates spokesperson later said in a statement. [Full Article...]


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