Money

Bank of Canada expected to hold interest rates in today's policy decision

Bank of Canada expected to hold interest rates in today's policy decision The BoC pointed out that oil market issues "are occurring in the context of a Canadian economy that has been performing well overall". The bank projects Canada's economic growth to be 1.7 percent in 2019, down from its October forecast of 2.1 percent. [Full Article...]

Brazilian government approves Boeing-Embraer joint venture

Brazilian government approves Boeing-Embraer joint venture The two companies had announced in July that American Boeing would take control of Brazilian Embraer's commercial airplane manufacturing business but the deal hit a snag last week when Bolsonaro , who was sworn in as president on Jan 1, expressed concerns over the deal. [Full Article...]

Elon Musk's SpaceX To Slash 10 Percent Of Staff

Citing an email sent to employees, the Los Angeles Times reported that the company was offering those affected a minimum of eight weeks' pay and other benefits, including career coaching and resume assistance. The company is also delivering supplies to the International Space Station (ISS). However, the launch and satellite initiatives the company is pursuing will each require several billion ... [Full Article...]

Macy's stock has worst day ever on holiday sales warning

Macy's stock has worst day ever on holiday sales warning The retailer's shares fell almost 9 percent following Thursday morning's report. Macy's said its comparable-store sales increased 0.7 percent in November and December, down from the 1 percent growth it achieved last Christmas. Its comparable sales, including licensed departments, rose 1.1 percent during November and December. Macy's "also suffered from execution issues in its promotional s... [Full Article...]

Ring employees reportedly had access to customers' recorded videos and live feeds

Ring employees reportedly had access to customers' recorded videos and live feeds This has also been something of an open secret within the company, with Intercept sources recalling how engineers sometimes teased each other about who they brought home after dates. All those clips the Ring devices would save in the cloud. The appeal of products like Nest cameras or Amazon Ring is their convenience, affordability, and simplicity. [Full Article...]

Toyota recall 1.7 million more cars over risk of exploding airbags

Toyota recall 1.7 million more cars over risk of exploding airbags There are fears that when this happens shrapnel could be hurled across the vehicle causing significant harm or damage to passengers. The recall includes Toyota models such as the 2010 to 2016 4Runner, the 2010 to 2013 Corolla and Matrix , and the 2011 to 2014 Sienna . [Full Article...]

GM's Cadillac will introduce EV in fight against Tesla

GM's Cadillac will introduce EV in fight against Tesla Alongside its bullish guidance, GM said it would use its Cadillac brand to compete with Tesla in the electric-vehcle market. Cadillac is the ideal brand for GM to relegate to electric vehicles, as the cost of electric components can be offset by the already-high prices customers pay for the cars' luxury. [Full Article...]

Digital bank raises $300m as it plans assault on U.S. market

Singapore's sovereign wealth fund GIC and other existing investors also participated. Co-founder and chief executive Valentin Stalf has predicted that the company will acquire a million customers in the USA within 12 to 24 months, citing the 2.3 million customers it has attracted thus far across 24 European markets. [Full Article...]

Saudi Arabia announces rise in oil, gas reserves

Saudi Arabia announces rise in oil, gas reserves Crude trading on Wednesday played out contrary to the way cautious analysts earlier in the week warned that it might, with assurances that Saudi Arabia's oil production and exports are falling sharply causing West Texas Intermediate to surge by $2.58 to $52.36 and Brent to climb $2.55 to $61.27 per barrel. [Full Article...]

Costco is selling a 26-pound bucket of mac and cheese

Costco is selling a 26-pound bucket of mac and cheese The wholesaler made news this week for selling out of its 26-pound bucket of macaroni and cheese that has a shelf life of up to 20 years. Sadly, the mac and cheese tub is sold out online at the moment, but as soon as Costco re-stocks you can buy one for your bunker. [Full Article...]

Talks lay foundation for future trade deal, says China

Talks lay foundation for future trade deal, says China A Chinese foreign ministry spokesman, Lu Kang, announced that the talks had ended. Further, negotiators had serious discussions over China's approach to intellectual property protection and its practice of so-called forced technology transfer. [Full Article...]

Flybe sold for £2.2m in cut-price deal

Flybe sold for £2.2m in cut-price deal Virgin Atlantic and Flybe already have a codeshare agreement in place, meaning that passengers are able to transfer between the two airlines on selected flights. Stobart Air operates a wet lease and aircraft leasing business. "At the same time, Flybe suffered from a number of legacy issues that are being addressed but are still adversely affecting cashflows". [Full Article...]

Ford to slash jobs in Europe, may close plants

Ford to slash jobs in Europe, may close plants Ford past year kicked off a company-wide $11-billion restructuring after both Europe and Asia swung to losses and costs to invest in electric and self-driving vehicles mount. As well as this, the seek to stop manufacturing automatic transmissions in Bordeaux in August and review its operations in Russian Federation. Formal discussions have begun between Ford and its Works Council to end prod... [Full Article...]

FDA: Shutdown Means We're Not Doing 'Important Things' Like Inspections

FDA: Shutdown Means We're Not Doing 'Important Things' Like Inspections The agency is still conducting inspections of foreign food coming into the country but under its shutdown contingency plan regular inspections of domestic facilities are suspended, raising concerns that Americans could be at higher risk for outbreaks of foodborne pathogens. [Full Article...]

Apple developing 3 new iPhones for fall release

Apple developing 3 new iPhones for fall release Last year, Apple released the most expensive iPhone in its history. According to the publication, Apple has been developing a new LCD iPhone for several months and a switch would likely prove too costly. Increased competition from local phone producers in China, where Apple makes 20 per cent of its total revenue, have hit the company's ability to keep growing in the market, chief executive T... [Full Article...]

Norovirus hits Royal Caribbean's Oasis of the Seas

Norovirus hits Royal Caribbean's Oasis of the Seas Norovirus is a contagious virus that causes vomiting and diarrhea. Mr Torres said in a statement to the Associated Press: "We think the right thing to do is get everyone home early rather than have guests worry about their health". "We are bringing additional medical staff on board and we're engaging in intensive sanitary procedures to minimize the risk of any further issues", a spokesperson fo... [Full Article...]

Aviation workers say government shutdown 'needlessly risks' safety in the skies

Aviation workers say government shutdown 'needlessly risks' safety in the skies Federal workers and agencies are feeling the negative impact of the shutdown. TSA said only about 220,000 travelers waited at least 15 minutes at checkpoints, while 0.2 percent - fewer than 5,000 - waited at least 30 minutes. And Delta Air Lines' plans to start flying its newest aircraft, the Airbus A220, by the end of this month could also be affected. "The shutdown needlessly risks the safe... [Full Article...]

Fed chair Jerome Powell to speak on market concerns Thursday

Fed chair Jerome Powell to speak on market concerns Thursday The Fed cut the rate to nearly zero during the financial crisis but has since raised it to a "neutral" level, meant to neither stimulate nor constrain the economy. Bloomberg's financial conditions index has retraced much of its December tightening. In his remarks before the Economic Club of Washington , Powell described the economy as strong at the end of previous year, with the lowest unem... [Full Article...]

Fiat Chrysler settles emissions-cheating case with U.S.

Fiat Chrysler settles emissions-cheating case with U.S. Apart from this, part of the settlement includes US$ 311 million in fines and US$ 72 million to other states. The recall and federal mitigation programs are estimated to cost up to $185 (£145 / €160) million, while FCA will fork over another $19 (£14.9 / €16.5) million to mitigate excess emissions from vehicles in California. [Full Article...]

Larry Ellison discloses $1B stake in Tesla

Larry Ellison discloses $1B stake in Tesla Ellison Revocable Trust, according to a filing made to the U.S. Securities and Exchange Commission. Tesla named Ellison, who's reportedly close friends with chief executive Elon Musk , to its board in December as part of a settlement with the SEC , which was created in part to enhance oversight at the company. [Full Article...]


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