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The US has informed Canada it will start formal extradition proceedings for Huawei CFO Meng Wanzhou, almost two months after she was arrested in Vancouver for violating unilateral US sanctions against Iran. His remarks come after China's ambassador to Canada warned last week of repercussions if the federal government bars the telecom company from supplying equipment for faster, more resilient communications systems than cellphone users have now.
  • Imprisoned Ex-Nissan chief, Renault wants to replace Carlos Ghosn probably

    Imprisoned Ex-Nissan chief, Renault wants to replace Carlos Ghosn probably

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    Nissan and Mitsubishi Motors say they may sue their former chairman Carlos Ghosn for improperly receiving compensation from the two companies' joint venture. In November, Japanese auto maker Nissan, a Renault alliance partner, announced that Ghosn was arrested in Tokyo after an internal inquiry revealed his involvement in financial wrongdoings.
  • Microsoft Pledges $500 Million to Ease Seattle Housing Crunch

    Microsoft Pledges $500 Million to Ease Seattle Housing Crunch

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    The pledge, announced today by company president Brad Smith , is a response to the widening affordability gap in Seattle region, which is at least partially attributed to the economic boom responsible for the increase in house prices in and around the city, according to a report by CNBC.
  • Morgan Stanley takes hit from slump on trading desks

    Morgan Stanley takes hit from slump on trading desks

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    The bank's shares fell 5.7% in early Thursday morning trading, to $41.96. The firm's institutional securities business, which contains its trading and advisory units, posted $3.84 billion in revenue, almost $500 million below the $4.33 billion estimate.
  • Mexico Pipeline Blast Death Toll Climbs to 66

    Mexico Pipeline Blast Death Toll Climbs to 66

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    Footage then showed flames shooting high into the air against a night sky and the pipeline ablaze. Those taps, along with theft by corrupt officials, accounted for more than $3 billion of fuel stolen from the state-run oil giant Pemex in 2018, according to President Andrés Manuel López Obrador .
  • Lotus Cars to be made at Geely factory in China

    Lotus Cars to be made at Geely factory in China

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    In 2017, Zhejiang Geely Holding Group took a majority stake in the British brand, as part of the deal with struggling Malaysian carmaker Proton. When news broke previous year of Geely's plan to invest £1.5bn into its Norfolk outpost, we greeted it with the cautious optimism of a group of people who had already been led up the garden path a couple of times.
  • Startups, investors get angel tax relief

    Startups, investors get angel tax relief

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    They have to be registered with the government's Department of Industrial Policy and Promotion (DIPP ) in order to get the exemption. Further, the Angel Tax exemption applications of DIPP recognised startup will be transmitted by DIPP to CBDT with the necessary documents for evaluation and CBDT will evaluate and respond within 45 days of receiving applications from DIPP.
  • Facebook To Invest $300 Million To Help Local News Survive

    Facebook To Invest $300 Million To Help Local News Survive

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    The social media giant said today that this latest round will be different to earlier investments by Facebook, as it will not be tied to delivering products directly on the platform such as video publishing or advertising. Organisations that will receive funding include the Pulitzer Center ($5m), Report for America ($2m) and the Community News Project ($6m), which is partnering with United Kingdom publishers on the community journalism traineeship undertaking.
  • Shopko announces store closures

    Shopko announces store closures

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    It reported assets of less than $1 billion and liabilities between $1 billion and $10 billion. The retailer says it will close 38 more stores, including 13 in Utah, two Shopko Hometown Stores in Montana and Wyoming, and three Idaho Shopko stores in the Treasure Valley, one in Nampa and two in Boise.
  • Cadillac gives preview of EV crossover concept — NAIAS

    Cadillac gives preview of EV crossover concept — NAIAS

    Markets

    Cadillac president Steve Carlisle did say that it would be offered in both front-wheel-drive and all-wheel-drive versions and built on a platform that will spawn several other models. As per the details, Cadillac has kept everything under wraps, except stating that the information will be revealed: "closer to launch". GM previously announced that Cadillac would be its lead brand for electric vehicle, and now we are getting images in the form of teasers for the automakers first planned ...
  • Tesla Model 3 hackers can earn up to £700,000 for exploits

    Tesla Model 3 hackers can earn up to £700,000 for exploits

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    Tesla is offering white hat hackers what could be the chance of a lifetime - the opportunity to hack one of its Model 3 vehicles. Since the Tesla Model 3 is mostly electronic and can be set to autopilot using computer programming, the vehicle developers have taken the opportunity to enter it into the contest to find their car's programming flaws.
  • United States legislators introduce bills targeting Chinese tech companies

    United States legislators introduce bills targeting Chinese tech companies

    Markets

    Many within the Trump administration have attempted to expose China's intellectual property theft of USA businesses, and have called on the president to apply harsher duties on Chinese imports. The German government is actively considering stricter security requirements and other ways to exclude China's Huawei Technologies from a buildout of fifth-generation (5G) mobile networks, the Handelsblatt newspaper reported .
  • Tokyo court denies ex-Nissan chief Ghosns bail request

    Tokyo court denies ex-Nissan chief Ghosns bail request

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    In a nine-page letter shown to news agencies on Sunday, Carole Ghosn urges the Japanese office of New York-based campaigner to "shine a light on the harsh treatment of my husband and the human rights-related inequities inflicted upon him by the Japanese justice system".
  • Goldman Sachs, Bank of America earnings beat expectations, shares jump

    Goldman Sachs, Bank of America earnings beat expectations, shares jump

    Markets

    The bank said fixed income trading revenue declined 18 percent from the earlier-year quarter, the biggest drop since 2008. JPMorgan Chase & Co. and their peers have already reported more than US$111 billion of profit for 2018. With Wednesday's gains, the S&P 500 came within striking distance of its 50-day moving average, a key indicator of short-term trends, for the first time since December 4.
  • Speaker Pelosi asks President Trump to postpone State of the Union address

    Speaker Pelosi asks President Trump to postpone State of the Union address

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    As many say that means he promised Mexico would send a check to the United States at some point as say he promised to use the trade agreement to cover costs, which is how the President now says Mexico will pay. Pelosi sent the letter to the White House on Wednesday, on what marked day 26 of the partial shutdown of the federal government , with no compromise in sight to resolve the standoff over funding for border security.
  • PM Theresa May battles to keep Brexit alive

    PM Theresa May battles to keep Brexit alive

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    Jeremy Corbyn has said Labour will not even have a preliminary discussion with Mrs May unless she rules out a No Deal Brexit . Another group of MPs who voted against May's deal are those who believe a no-deal Brexit - sometimes referred to as a "WTO deal" Brexit - would be manageable or even desirable for the UK.
  • United States eyes Taiwan risk as China’s military capabilities grow

    United States eyes Taiwan risk as China’s military capabilities grow

    Markets

    Speaking to reporters in Washington on Tuesday, a senior defense official admitted that he was anxious about China now having the confidence to pull off major military moves - such as invading Taiwan. "Domestic laws forced foreign partners of Chinese-based joint ventures to release their technology in exchange for entry into China's lucrative market, and China has used other means to secure needed technology and expertise".
  • Donald Trump's trade war hits Chinese exports

    Donald Trump's trade war hits Chinese exports

    Markets

    Customs has not yet released information on US-China bilateral trade, but China's imports of soybeans fell by 7.9 per cent previous year to 88 million tons. China has retaliated with tariffs of its own. With US tariffs in place, the gloomy export picture has reinforced the need for Beijing to rely on its legion of consumers to grow its economy.
  • Germany: Hundreds of flights canceled at Frankfurt ahead of strike

    Germany: Hundreds of flights canceled at Frankfurt ahead of strike

    Markets

    In the German airline's statement, the company mentioned that cancellation figures did not yet include its flights coming out of Munich airport and, therefore, the final number of flights cancelled is likely to rise. Just a few days ago, on January 10th, the security personnel also took industrial action at Dusseldorf, Cologne-Bonn and Stuttgart Airport. The latest walkouts follow strikes at five airports recently and were denounced by ADV as excessive.
  • Oil Markets on Track to Balance

    Oil Markets on Track to Balance

    Markets

    Brent crude, the worldwide standard, traded at $60.48 a barrel in London on Friday. In this regard, he said that "Saudi Arabia is committed to representing a central part of that reliable supply, as it has always done". "We in Saudi Arabia went beyond our commitment, and have lowered both production and exports", he said. "We will do what's right for the kingdom ...
  • USA 'probes Huawei for trade secret theft'

    USA 'probes Huawei for trade secret theft'

    Markets

    In a move that signals an increasingly aggressive stance by the USA against Huawei Technologies Co., federal authorities in Seattle are investigating the Chinese technology giant for allegedly stealing trade secrets from USA partner companies like T-Mobile US Inc., according to people familiar with the matter.
  • British MPs vote overwhelmingly to reject Brexit deal

    British MPs vote overwhelmingly to reject Brexit deal

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    If the transition concludes without a deal, the so-called "backstop" must be triggered, keeping the whole United Kingdom in a customs union with the remaining EU to prevent a hard border in Ireland. MPs finally got their chance to say yes or no to May's deal after more than two years of political upheaval - and said no. Hardline Brexiteers and Remainers oppose the agreement for different reasons and many fear it could lock Britain into an unfavorable trading relationship with the EU.
  • Kona, Genesis G70 win top auto awards in US

    Kona, Genesis G70 win top auto awards in US

    Markets

    The judges evaluate finalists on value, innovation, design, performance, safety, technology and driver satisfaction. To be eligible, vehicles must be "all new" or "substantially changed". "The Kona Electric is the first mass-market electric vehicle that truly works for the mass market", said Jamie Page Deaton, executive editor at U.S.
  • Marks and Spencer, Newark, named among 17 closing stores

    Marks and Spencer, Newark, named among 17 closing stores

    Markets

    M&S said this week it has begun consulting with 41 staff at Newark over plans to shut the store this year. The latest proposals are part of the M&S's store estate programme, which it first announced in November 2016. "Proposing to close stores is never easy, for our colleagues, customers or the local community, but it is vital for the future of M&S". In further bad news, comparable food sales fell 2.1 percent.