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Markets

Uber riders will now see price changes as a result of the first-of-a-kind driver minimum wage law in New York City. The companies also say the new minimum wage should not be applied to each ride, which conflicts with local law, but rather to a weekly calculation.
  • EU irks Britain by calling Gibraltar a ‘colony’

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    The UK has objected to Gibraltar being described as a "colony" in draft European Union legislation allowing UK nationals to travel to the EU without visas after Brexit. One footnote inserted at the insistence of Spain has ruffled feathers, where the status of Gibraltar British citizens is discussed. In a 2002 referendum on whether Britain and Spain should share sovereignty over Gibraltar, 99 percent of voters said no, similar to the outcome of a referendum in 1967.
  • Exit of Tesla CFO could signal end of India plans

    Exit of Tesla CFO could signal end of India plans

    Markets

    UBS Group lowered their price target on Tesla from $230.00 to $220.00 and set a "sell" rating for the company in a report on Tuesday. Speaking to analysts following Tesla's Q4 earnings report, CEO Elon Musk said he estimates global Model 3 demand to reach 700,000 to 800,000 units per year in a strong economy.
  • Second Apple employee accused of stealing self-driving vehicle tech

    Second Apple employee accused of stealing self-driving vehicle tech

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    Another alleged Chinese spy has been caught apparently trying to steal secrets from Apple's mysterious self-driving auto project. Chen also worked directly on the project so was in a good position to nab some info. Some of the photos were taken back in June of 2018, while others were taken as recently as December of previous year. In December, Chen was put on notice by Apple that his work performance needed to improve.
  • More Infant Ibuprofen Sold at Walmart and CVS Recalled Over Safety Concerns

    More Infant Ibuprofen Sold at Walmart and CVS Recalled Over Safety Concerns

    Markets

    More specifically, CVS Health: Infants' Ibuprofen Concentrated Oral Suspension sold in both 1.0 oz and 0.5 oz bottles, according to the U.S. Food and Drug Administration's (FDA) notice , have been added to the list. Normal levels are 50 mg per 1.25 mL. Adverse effects that could be experienced include nausea, vomiting, epigastric pain, or more rarely diarrhea. Infants' Ibuprofen Concentrated Oral Suspension sold at Walmart, with expiration dates of February 2019 , April 2019 and August ...
  • Amazon Revenues Climb 20 Percent to $72.4 Billion

    Markets

    Advertising and AWS are Amazon's fastest-growing segments, and the two are increasingly being used in tandem by marketing technology companies and ad agencies. Dave Fildes, Amazon's Director of Investor Relations, said on Thursday's earnings conference call that Amazon is "continually evolving" its tools and services for advertisers, to "make sure they've got a variety of ways to meet their goals".
  • Volkswagen dune buggy makes an electric comeback

    Volkswagen dune buggy makes an electric comeback

    Markets

    This in turn became the infamous VW beach buggy that we know today. There's certainly something to be said for the compact nature of an electric system - there's no need to route exhaust systems, fuel lines, or make room for bulky driveline components that could change from vehicle to vehicle.
  • Here's Why Facebook Just Hired One of Its Biggest Critics

    Here's Why Facebook Just Hired One of Its Biggest Critics

    Markets

    In response to a question during the earnings call regarding Stories ad adoption, Facebook chief operating officer Sheryl Sandberg reported two million advertisers were now using Stories ads - but did not clarify if those were Facebook Stories or Instagram Stories ad units.
  • Natural gas shortage ends, auto plants to resume production

    Natural gas shortage ends, auto plants to resume production

    Markets

    Fiat Chrysler canceled first shifts production at its Warren and Sterling Heights plants. Poppe said the usage cuts by large businesses were not enough, and urged 1.8 million MI customers to turn down thermostats as much as they could to cut natural gas use in order to protect critical facilities like hospitals and nursing homes.
  • Musk not anxious about Tesla Model 3 demand, but Wall Street is

    Musk not anxious about Tesla Model 3 demand, but Wall Street is

    Markets

    In the earnings call which Musk discussed prior to announcing Ahuja's departure, Tesla reported its second consecutive quarterly profit ever. Tesla rattled investors on Wednesday by reporting profit that fell short of expectations and revealing that its chief financial officer is leaving - the latest senior executive to exit the electric auto company.
  • No final China trade deal without Xi meeting

    No final China trade deal without Xi meeting

    Markets

    But if there's little movement during the next 30 days, "the markets will react poorly because it will be a signal that the two sides have not found common ground on some of these sticky issues". The core of the US allegations against China is that Beijing systematically steals trade secrets, forces foreign companies to hand over technology as the price of access to the Chinese market and subsidizes its own tech companies.
  • Alibaba Runs It Back With Solid Q3 Results

    Alibaba Runs It Back With Solid Q3 Results

    Markets

    However, Alibaba's Executive Vice Chairman Joe Tsai noted that sales ticked up in December, but demand for big-ticket items declined. The 41pc growth announced on Wednesday was the weakest Alibaba had recorded in three years. Alibaba did not issue any guidance for the fiscal fourth quarter. The company said it has since repurchased 10.86 million of its ADSs for $1.6 billion.
  • EU Won't Budge on Brexit Deal as May Seeks Cross-Party Unity

    EU Won't Budge on Brexit Deal as May Seeks Cross-Party Unity

    Markets

    MPs also passed a non-binding amendment ruling out a no-deal Brexit, but Mrs May warned the Commons that "simply opposing no-deal is not enough to stop it" and called for it to back the proposed agreement. Our plan, now referred to as Plan C or the " Malthouse compromise ", involves a new backstop that is acceptable indefinitely, but which incentivises us all to reach a new future relationship and ensures there is no need for a hard border on the island of Ireland.
  • Wall Street rattled by Caterpillar, Nvidia warnings

    Wall Street rattled by Caterpillar, Nvidia warnings

    Markets

    Chipmaker Nvidia slashed its Q4 revenue guidance to $2.2 billion from $2.7 billion, highlightingconcerns of deteriorating macroeconomic conditions, particularly in China. More than 100 S&P 500 companies are scheduled to report their earnings, including Apple , Microsoft, Amazon and Facebook. An ominous warning about a slowdown in China also spooked shareholders.
  • Unemployment in India is at its highest in 45 years

    Unemployment in India is at its highest in 45 years

    Markets

    Amid reports that the government withheld the National Sample Survey Organisation's (NSSO) first "Annual Survey on Employment and Unemployment " for the year 2017-18, Kumar issued a clarification today saying, "Data collection method is different now, we are using a computer-assisted personal interviewee in the new survey".
  • Fed signals it has no plans to raise rates

    Fed signals it has no plans to raise rates

    Markets

    Many analysts also have pointed to a marked divergence in the Conference Board's measures of consumers' positive view of present economic conditions and the marked decline in expectations about the future. Facebook shares then leapt 11 percent after hours after it had reported better-than-expected profits following a year of high profile data scandals.
  • Foxconn rethinking plans to make LCD panels in Wisconsin

    Foxconn rethinking plans to make LCD panels in Wisconsin

    Markets

    While Foxconn Technology Group said Wednesday it remained committed to the Wisconsin project and the jobs it promised , the move would represent a dramatic about-face for the company, whose promise to bring TV manufacturing to North America helped it secure billions of dollars in state tax incentives.
  • Trump lifts Rusal sanctions as Putin ally Oleg Deripaska cuts stake

    Trump lifts Rusal sanctions as Putin ally Oleg Deripaska cuts stake

    Markets

    Prices surged in April when Treasury announced the financial restrictions. It was reported earlier that the US Department of Treasury lifted sanctions imposed earlier on Rusal, En+ and EuroSibEnergo. Trump administration officials, and many Republicans who opposed the effort to keep the sanctions in place, had said they anxious about the effect on the global aluminum industry.
  • Facing Billions in Wildfire Liabilities, PG&E Files for Bankruptcy

    Facing Billions in Wildfire Liabilities, PG&E Files for Bankruptcy

    Markets

    Regulators with the California Public Utilities Commission, or CPUC, found that PG&E diverted $77.6 million from its tree-trimming budget to other uses, according to the Butte lawsuit. While the investigators' finding reduced PG&E's potential liability, it wasn't enough to reassure investors. Legal experts say the bankruptcy will likely take years to resolve and will result in higher rates for PG&E customers.
  • Venezuela: President Maduro ready for talks with opposition, says Russian agency

    Venezuela: President Maduro ready for talks with opposition, says Russian agency

    Markets

    The court is stacked with Maduro loyalists. Large protests are expected in Venezuela Wednesday in the wake of a Supreme Court move to freeze Juan Guaido's bank accounts and impose a travel ban on the self-declared interim president. Mr Maduro said the talks could be held with mediation of other countries. A furious Maduro, 56, said Trump would have "blood all over his hands" if violence breaks out in Venezuela.
  • Taco Bell evacuated, WWII grenade safely removed

    Taco Bell evacuated, WWII grenade safely removed

    Markets

    For the most comprehensive local coverage, subscribe today. It appeared that the man, who was not identified by law enforcement, had waited until arriving at the popular fast food restaurant before reporting his discovery to the authorities.
  • Nissan 'facing probe by United States regulators over executive pay disclosures'

    Nissan 'facing probe by United States regulators over executive pay disclosures'

    Markets

    As reported, in November 2018, the head of Nissan and Renault Carlos Ghosn, his assistant Greg Kelly and company-the automaker was accused of concealing about $ 44.5 million of revenue Rut during the period from 2010 to 2015. The company's shares are traded as American Depository receipts in the U.S. Nissan has a 15 per cent non-voting stake in Renault. "That's rare", Dessaint said, suggesting that by doing so, Ghosn was hoping to benefit immediately from any pre-discussed "golden ...
  • Postal Service suspends delivery January 30, 2019

    Postal Service suspends delivery January 30, 2019

    Markets

    All mail will be held at your local post office until you're ready to receive it. Classes were canceled in several of those same states due to the extremely low temperatures. 30. A wind chill warning is in effect for parts of northwestern Missouri from 6 p.m. Tuesday through noon Wednesday due to risky wind chills of -25 to -30 degrees.
  • Venezuela's Nicolas Maduro Vows Legal Action Against US Over Oil Sanctions

    Venezuela's Nicolas Maduro Vows Legal Action Against US Over Oil Sanctions

    Markets

    On Monday evening, White House National Security Adviser John Bolton walked into a press briefing about new sanctions on Venezuela with a yellow legal pad that was, accidentally or not, turned to face the press pack. federal reserve. Such prepayment could be in violation of the sanctions, setting the stage for a standoff at the ports. U.S. officials said the sanctions on PDVSA were meant to prevent Maduro's government from siphoning off funds from the oil company.
  • Eurozone faces growing risks, Draghi warns, as economic slowdown takes hold

    Eurozone faces growing risks, Draghi warns, as economic slowdown takes hold

    Markets

    Negative interest rates have been a very effective policy measure. Instead, it will likely wait until March - when central bank staff issue new quarterly growth and inflation forecasts - to draft a response. The ECB kept its short-term benchmark rate at 0 per cent. "It confirms that the first rate hike is unlikely to take place before December and that European Central Bank forecasts will be revised down in March".