Tuesday August 20-th, 2019

Canada Might Hold Zuckerberg in Contempt Canada Might Hold Zuckerberg in Contempt

Conservative lawmaker Bob Zimmer said if the Facebook executives refuse to appear, they will be held in contempt. Throughout the hearing, the fact that it was Potts and Chan answering questions, instead of Zuckerberg and Sandberg, was the repeate...

Ferrari unveils SF90 Stradale plug-in hybrid sports auto Ferrari unveils SF90 Stradale plug-in hybrid sports auto

The chassis and bodyshell of the SF90 Stradale are all new, built using multi-material technology, including, for example, carbon fibre. Named after the Italian marque's famed motorsport division Scuderia Ferrari, it celebrates 90 years of its existe...

'Sports Illustrated' magazine sold for $110M 'Sports Illustrated' magazine sold for $110M

Meredith will continue to publish the print magazine, manage its website, and will still be responsible for advertising, video and social media. As the Associated Press notes, ABG's involvement with the magazine will now be mostly in expanding its ...

DOJ mulls 4th carrier as condition of Sprint/T-Mobile merger approval DOJ mulls 4th carrier as condition of Sprint/T-Mobile merger approval

The new carrier would solve the Justice Department's main complaint with the merger - that it would reduce the number of major carriers in the U.S to just three -but T-Mobile and Sprint might not accept it. T-Mobile has said its planned home broa...

China BOOSTED Imports of Iranian Oil Prior to End of US Waivers China BOOSTED Imports of Iranian Oil Prior to End of US Waivers

It had earlier reported that a batch of Iranian fuel oil had sidestepped American sanctions on petroleum exports by using ship-to-ship transfers involving four vessels including that tanker - the Marshal Z. Also some reports, including those by Reu...

Annual minimum wage rise to be announced Annual minimum wage rise to be announced

The worst area is Redbridge, where nearly half of workers are paid below the Real Living Wage. "Australia already has one of the highest minimum wages in the world, and continuously increasing minimum wages by significantly more than inflation has ...

Saudi Arabia hosts OIC, GCC meets amid rising US-Iran tensions Saudi Arabia hosts OIC, GCC meets amid rising US-Iran tensions

A representative of Iran attended the gathering of OIC, of which it is a member, an AFP reporter said . The tough stance comes on the eve of emergency Arab and Gulf summits called by US-ally Saudi Arabia to discuss the standoff and ways to i...

Brexit makes New york to be the world’s pre-eminent financial center Brexit makes New york to be the world’s pre-eminent financial center

Just over half of respondents now see NY as the world's top financial center, up 10% from 2018, while 36% see London as the leader, down 17% from previous year. The Global Regulatory Outlook 2019 report found that in five years, prospective confide...

Minimum wage to be increased by 3% to $740.80 a week

The new hourly rate will be $19.49 an hour, up from $18.93. The 3% increase is lower than last year's decision by the commission to increase the minimum wage by 3.5%. Business groups argued a six per cent hike would destroy jobs and threaten econom...

Oil prices rise after bigger-than-expected fall in USA inventories Oil prices rise after bigger-than-expected fall in USA inventories

Crude prices also continued to be supported by falling supplies from Iran and output cuts by OPEC and other major oil producers. Both contracts are set for their first monthly decline in five. Adding to the ongoing trade tension, an anonymous offic...

Huawei asks court to rule USA ban unconstitutional Huawei asks court to rule USA ban unconstitutional

According to latest Gartner numbers, global smartphone shipment slipped 2.7% YoY in Q1, notching 373 million units. The company argues that the ban is unconstitutional because Washington specifically singled out two Chinese firms - ZTE and Huaw...

U.S. will rue forcing China's hand on rare earths U.S. will rue forcing China's hand on rare earths

According to the US Geological Survey, from 2014 to 2017 the United States imported 80 percent of its rare earth compounds and metals from China . It is not the first choice of China's offensive weaponry, the report said. The Pentagon has repea...

Sony Is Under Investigation By The ACCC For Allegedly Misleading Australian Gamers Sony Is Under Investigation By The ACCC For Allegedly Misleading Australian Gamers

Today the Australian Competition and Consumer Commission (ACCC) has announced its intention to take Sony Europe to the Federal Court over telling customers that they couldn't receive refunds for faulty PlayStation games. The ACCC said refunds...

Ford government to end contract with Beer Store Ford government to end contract with Beer Store

Scrapping the deal could trigger steep financial penalties, but the legislation contains provisions to nullify any such costs. Craft beer sales account for less than 2 per cent of sales at the Beer Store , but they make up over 10 per cent of sale...

World’s Biggest Investment Banks to Face Class Action Lawsuit in Australia World’s Biggest Investment Banks to Face Class Action Lawsuit in Australia

After so many years of trying to bear the loss and act as if nothing really happened, the affected investors and businesses have made a decision to take the bull by its horns by filing a class action against the dragons at the Federal Court via a law...

‘Molecules of US Freedom’: US Energy Department Introduces New Terms for LNG ‘Molecules of US Freedom’: US Energy Department Introduces New Terms for LNG

On May 7, Energy Secretary Rick Perry - the dark-horse pick for Trump's most competent Cabinet member - announced in Brussels that the USA intends to double liquefied natural gas exports to Europe by 2020. The press release announced the expansion of...

Drug plan to save millions Drug plan to save millions

Dix says biosimilars can cost anywhere from 25 to 50 per cent less than biologic drugs that are engineered using living organisms like yeast and bacteria. This is the latest major change to improve access to prescription drugs for British Colum...

Uber will start booting riders with low ratings Uber will start booting riders with low ratings

For years, Uber allowed passengers to rate drivers on a star system, ultimately allowing customers to influence whether drivers can stay behind the wheel. Starting with the USA and Canada, riders will see a summary of the guidelines and be asked to c...

Alibaba said to mull raising $20b via second listing in HK Alibaba said to mull raising $20b via second listing in HK

Alibaba held its record US$25 billion public float in NY in 2014 after Hong Kong regulators refused to accept the firm's governance structure. One person with direct knowledge said it was more likely to be between US$10 billion and US$15 billion...

Canadian Natural Resources buys Devon's Canada unit for $2.8 billion Canadian Natural Resources buys Devon's Canada unit for $2.8 billion

Devon officials said they will use the sale's proceeds to reduce the company's debt. Devon's Canadian portfolio consists of heavy oil assets, mainly in the province of Alberta. The deal is expected to close by June 27, but its effective date is J...

Italy braces for three billion-euro Brussels fine Italy braces for three billion-euro Brussels fine

Rome came into conflict with the Brussels over its spending rules last October and the European Commission's vice president, Valdis Dombrovskis, has warned that the country's spending could not continue. However, analysts said a fine was unlikely, an...

Huawei's own operating system could be called Ark OS Huawei's own operating system could be called Ark OS

According to the TechRadar report , which first quoted a Middle East executive, Huawei would launch the OS in June itself. Huawei would rather not give up on the benefits of a fully-fledged Android phone , but at the same time, with the U.S.

Petrol price drop coming in South Africa Petrol price drop coming in South Africa

Rates were largely range-bound during April and May despite a rise in oil prices in the global market. It has been a turbulent month for both the South African rand and worldwide oil prices but now that the dice that determines June's fuel price ...

Recall Of All-Purpose Flour Issued Due To Possible E. Coli Contamination Recall Of All-Purpose Flour Issued Due To Possible E. Coli Contamination

It was milled by Archer Daniels Midland (ADM) at its production facility in Buffalo, NY. -Consumers should thoroughly wash the containers before using them again. People started getting sick December 11, 2018. The CDC says that reported illnesses r...

China regional banks' funding costs rise after Baoshang takeover China regional banks' funding costs rise after Baoshang takeover

The rare takeover, the first in almost two decades , also highlights the long struggle of some smaller regional lenders in China, which suffer from deteriorating asset qualities, inadequate capital buffers, and poor internal controls and corporate g...

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