Economy

ZTE Saved From Brink After $1-Billion Fine Deal With US

ZTE Saved From Brink After $1-Billion Fine Deal With US ZTE relies on US parts and the ban also hurt ZTE's USA suppliers. ZTE will pay a $1 billion penalty, and put another $400 million in escrow to cover possible future violations before being stricken from a sanctions list. Chinese President Xi Jinping personally intervened with US President Donald Trump , who instructed Ross to find a solution. As part of a new agreement, the sources said, ZT... [Full Article...]

Apple Takes Cautious Approach, Orders 20% Fewer Components for New iPhones

Apple Takes Cautious Approach, Orders 20% Fewer Components for New iPhones It was expected to sell 53 million iPhones. Apple (NASDAQ: AAPL ) has warned suppliers of a 20% drop in new orders for iPhone parts, according to Nikkei Asian Review sources . "As the improvements made to the iPhone each year become increasingly marginal it may become more hard to convince consumers to pay up for the latest model, when an older generation device is effectively just as good"... [Full Article...]

The New Electric Flying Car From Google Co-Founder Larry Page

The New Electric Flying Car From Google Co-Founder Larry Page Kitty Hawk , the California-based flying auto company founded by Google Alphabet CEO Larry Page , on Wednesday unveiled the final version of its latest model Flyer. Its price has not yet been disclosed. Powered by batteries, it can fly up to 10 feet off the ground at speeds up to 20 miles per hour. The new flying machine is one of several concept vehicles being testing, with Uber and others i... [Full Article...]

Trump falsely accuses Canada of burning down White House

Trump's statement was made just before he left: the USA president has been at odds with the G-7 countries over mounting import duties disagreements. Scheer says the solution to the problem lies in a renegotiation of the Safe Third Country Agreement between Canada and the United States. The president also offered reassurance that Canada and the US have made progress in their trade dispute over... [Full Article...]

Production version of Porsche Mission E to be called 'Taycan'

Production version of Porsche Mission E to be called 'Taycan' A crossover SUV version, called the Mission E Cross Turismo , was revealed at the Geneva Motor Show earlier this year. The company, which is part of the Volkswagen Group, now offers several plug-in hybrid models and sold just over 900 of the Porsche 918 Spyder , a limited-edition plug-in hybrid supercar. [Full Article...]

Trump to leave G7 summit early amid feud with Trudeau, Macron

Trump to leave G7 summit early amid feud with Trudeau, Macron The prospects of Russian Federation being readmitted to the G-7 are dim. The US president floated the idea - which was received as somewhat rhetorical - as a meeting of the G7 leaders was breaking up. "Whether you like it or not, and it may not be politically correct, but we have a world to run". Mr Trump plans to leave the summit early and will skip G7 meetings about climate change, clean e... [Full Article...]

Kinder Morgan, Inc. (KMI) Recent Ownership Changes

Kinder Morgan, Inc. (KMI) Recent Ownership Changes Landaas & Co. WI ADV lifted its position in shares of Kinder Morgan by 5,457.0% in the fourth quarter. (NRG) plunged -0.59%, amounting to a loss of -$0.2 per share, to finish the regular trading session at $33.65 on Tuesday 06/05/2018. New Democrat MP Nathan Cullen said in the House of Commons, complaining it is paying too much. (NYSE: KMI ) for 257,960 shs. Whereas they predicted High and Low E... [Full Article...]

U.S. trade deficit falls for second straight month in April

U.S. trade deficit falls for second straight month in April Data for March was revised to show the trade deficit falling to $47.2 billion, instead of the previously reported $49.0 billion. The bulletin attributed the increase of exports to the jump in the exports of some goods, such fresh orange, increasing by 11.4 percent, readymade garments (2.3 percent), plastic (33 percent) and petroleum products (18.5 percent). [Full Article...]

Trump trade clash dooms hopes of G7 consensus

Canada and France will take a polite, persuasive yet firm approach to Donald Trump at the G7, warning the U.S. President that his punishing trade tariffs will backfire and harm America's economy and work force. "There are disagreements. He's sticking to his guns, and he's going to talk to them", said Larry Kudlow, Trump's top economic adviser, at a briefing on Wednesday. [Full Article...]

Salad Cream is considering changing its name and people are not happy

Salad Cream is considering changing its name and people are not happy Salad Cream could be about to get a brand new look. The condiment became a national favourite during the 1940s, Heinz says, when ketchup was unavailable and salad cream was used to add flavour to bland war-time rations. Vince Cable might just call Salad Cream mayonnaise, but he would be wrong to do so, as there is a slight but important difference between the sauces. [Full Article...]

Ghana FA looking into corruption claims as fallout continues

Ghana FA looking into corruption claims as fallout continues In a statement signed by the Information Minister, Mustapha Amid, the government expressed shock and outrage at the contents of the documentary. "When we say the FA is dissolved it means all functions, all activities are all dissolved", he said and also mentioned the indefinite suspension of the Premier League. [Full Article...]

Former Cambridge Analytica boss admits to receiving Facebook data from researcher

Former Cambridge Analytica boss admits to receiving Facebook data from researcher Alexander Nix acknowledged today that he should have been clearer when asked at an earlier hearing whether his firm had Facebook data through Global Science Research, a company set up by Cambridge University academic Aleksandr Kogan. He admitted he had been foolish and had made exaggerated claims in order to attract what he thought was a potential client. Christopher Wylie is a Canadian data ... [Full Article...]

Tesla SUV, on Autopilot, Accelerated Before Fatal Mountain View Crash

Tesla SUV, on Autopilot, Accelerated Before Fatal Mountain View Crash Bystanders managed to get the driver out of the auto before it was engulfed in flames, and he was taken to hospital where he died from his injuries. Tesla , however, previously said it has no record of Huang complaining about Autopilot. The preliminary results of that NTSB investigation have been released, and they are concerning. "The vehicle did not detect the driver's hands on the steering w... [Full Article...]

There now are more openings than unemployed workers to fill them

There now are more openings than unemployed workers to fill them A man carrying a stack of job listings listens to a discussion at the One Stop employment center in San Francisco, California, August 12, 2009. The number of available jobs rose 1 percent to 6.7 million from 6.6 million in March, the Labor Department said Tuesday . [Full Article...]

Macron: G7 leaders must be civil as they pressure Trump

Prime Minister Justin Trudeau walks with U.S. President Donald Trump at the White House in Washington, D.C. on Wednesday, Oct. 11, 2017. "But we see no sign of that in this action today by the U.S. The Commerce Department said foreign production of steel and aluminum was driving down prices and hurting USA producers, creating a "national security threat". [Full Article...]

Senior bank executives charged over Australia 'cartel conduct'

Senior bank executives charged over Australia 'cartel conduct' The charges follow from a two-year long investigation undertaken by Australian Competition and Consumer Commission (ACCC). The regulator said charges over the share placement have been laid against Citi's former Australia head Stephen Roberts, its current local head of capital markets John McLean and its London-based head of foreign exchange trading Itay Tuchman, along with Deutsche's former... [Full Article...]

Delaware Burger King shuts down due to alleged rodent infestation

Delaware Burger King shuts down due to alleged rodent infestation The video prompted an immediate investigation by USA health inspectors, who found rodent droppings on and inside hamburgers and rolls. According to the News Journal , the restaurant was open for business Tuesday morning and there was even a sign on the front door reading, "Now hiring cashiers and sandwich makers". [Full Article...]

No agreement yet between US, China on ZTE: Trump aide

No agreement yet between US, China on ZTE: Trump aide What might "happen" is that ZTE will pay a US$1 billion fine, plus $400 million in escrow, an asset held by a third-party, to cover any future violations, according to a Reuters report . ZTE would still have to pay the USA government up to $1.7 billion in fines as part of this new settlement, according to the report. "ZTE has also been replacing some of its top executives in a bid to make good on ... [Full Article...]

Hands-free driving is coming to all Cadillac models, other GM brands

Hands-free driving is coming to all Cadillac models, other GM brands GM highlights that Super Cruise is a feature to be used on the freeway to offer what its marketing team is calling a "hands-free driver assistance feature", however increasing controversy over how drivers treat Tesla's autonomy software may lead drivers down a potentially unsafe path by ignoring the need to pay attention to their surroundings. [Full Article...]

Chinese firm ZTE reaches preliminary agreement with United States to restore business

The tentative deal we have learned about today via Reuters , calls out a $1billion fine for the original breach of the April 2017 agreement to not sell to North Korea and Iran plus an additional $400 million in escrow to cover any future violations. [Full Article...]


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