Economy

Bitcoin's collapse is raising suspicions about price manipulation

Bitcoin's collapse is raising suspicions about price manipulation Bitcoin isn't all it has been cracked up to be, according to a new report by a University of Texas professor. " Tether seems to be used to stabilize and manipulate Bitcoin prices", said Professor John Griffin and Amin Shams in their research paper. [Full Article...]

Fed Raises Interest Rates, Signals Faster Hikes on the Way

Fed Raises Interest Rates, Signals Faster Hikes on the Way Estimates of longer-run interest rates were unchanged and seen reaching as high as 3.4 percent in 2020 before dropping to 2.9 percent in the longer run. Since the Fed began holding quarterly news conferences in 2011, it has announced major policy moves only at the quarterly meetings, which have all been followed by a news conference by leader of the Fed. [Full Article...]

Italy summons French envoy as migration dispute escalates

Salvini has accused European aid groups of essentially operating taxi services for Libya-based human traffickers, and has said Italy will now refuse them entry. This June 12, 2018 photo released Wednesday, June 13, 2018 by French NGO "SOS Mediterranee" shows migrants on the Aquarius ship after being rescued in the Mediterranean Sea. [Full Article...]

Trump eyes oil prices: ‘OPEC is at it again’

He last raised the issue in April. " More oil from OPEC plus is the base case", said Bjarne Schieldrop, analyst at Swedish bank SEB. President TrumpDonald John TrumpWhat you need to know about Tuesday's elections Danny Tarkanian wins Nevada GOP congressional primary Laxalt, Sisolak to face off in Nevada governor's race MORE focused on high oil prices in a tweet on Wednesday, again layin... [Full Article...]

Uber Lite will let you book cabs even on 2G connections

Uber Lite will let you book cabs even on 2G connections Uber has also confirmed that the Lite app will be able to work better in areas with bad or unstable network connectivity. The app will continue rolling out across India this summer, and in other countries around the globe later this year. You can also choose to adjust your pickup location on the map. That now includes a stripped-down Lite app "built in India" and "designed for the world", which oc... [Full Article...]

Louboutin takes trademark action in court over red-soled shoes

Louboutin takes trademark action in court over red-soled shoes The EU court has 'confirmed that the legal regime governing shape trademarks does not apply to Christian Louboutin's red sole mark, ' the French company said in a statement. But Louboutin argued that the use of a colour in a certain position - specifically in this case a red pigment called Pantone 18 1663TP - can be. The Dutch company took the case to the EU court citing European regulations tha... [Full Article...]

Defeat devices reportedly found in diesel Daimlers

Defeat devices reportedly found in diesel Daimlers The move mostly affects Vito vans and diesel-powered versions of GLC 4x4s and C-class sedans, Scheuer added. Daimler has previously clashed with the KBA's findings regarding diesel emissions, and has maintained it has done nothing wrong. [Full Article...]

Uber driver who booted 2 kissing women has license suspended

Uber driver who booted 2 kissing women has license suspended During the ride, the driver pulled his vehicle over on Canal Street and ordered the women out of his auto. "I said the first time, don't do it", the driver responded. Elbotari said the couple were acting crude in his cab. "Just get out of my auto", which they eventually did. But please don't comment on someone's appearance or ask whether they are single. [Full Article...]

Ethereum Classic Jumps 20% on Coinbase News

Ethereum Classic Jumps 20% on Coinbase News Coinbase has unexpectedly announced on its home blog and through twitter that it will be integrating Ethereum Classic over the next few months to be listed sometime in September causing the price of ETC to gain dramatically. It is now the only currency with a double-digit gain in the top 50 or nearly the entire market. Not to forget, the Binance Coin [BNB] which was added against ETC on Bin... [Full Article...]

Tesla to layoff 9 percent of workforce

Tesla to layoff 9 percent of workforce In a company-wide email, chief executive Elon Musk described the decision as "restructuring" and said it would affect only salaried employees - not the factory workers building its next fleet of Model 3 electric cars. The Associated Press reports the 9 percent amounts to about 3,600 employees. He argued that cost cutting was necessary to turn Tesla into a sustainably profitable company. [Full Article...]

President Trump Is Still Very Angry With Canada's PM Justin Trudeau

President Trump Is Still Very Angry With Canada's PM Justin Trudeau Since Trump's election, Trudeau's government has poured energy and time into building relationships with the White House , with Congress and throughout the USA private sector, hoping to rally enough support to keep Trump from upending the continental trading system. [Full Article...]

Yahoo fined £250,000 for hack that impacted 515,000 United Kingdom accounts

Yahoo fined £250,000 for hack that impacted 515,000 United Kingdom accounts The firm said "state-sponsored" hackers had stolen personal information, which included names, emails, unencrypted security questions and answers. The incident was reported two years later. Since then, the fines and court cases have kept rolling in as various regulators get in on the action. Although the data breach took place in 2014, Yahoo kept the loss of around 500 million worldwide us... [Full Article...]

Seattle officially repeals tax on companies like Amazon, Starbucks

Seattle officially repeals tax on companies like Amazon, Starbucks The campaign had already collected more than twice the number of signatures required to let voters decide on the November ballot whether to reject the tax, according to Tim Ceis, a general consultant to the campaign. The debate unleashed tense local divisions , exposing the anxieties of being the fastest-growing big city in the U.S. It also offered a warning to cities looking to court Amazon ... [Full Article...]

Judge approves AT&T merger with Time Warner

Judge approves AT&T merger with Time Warner The US had sued to block the deal, arguing that it would reduce competition in pay TV and lead to higher prices for consumers. The Judge has put no conditions on the merger. AT&T and Time Warner said they need to combine in order to better compete with Facebook (FB), Amazon ( AMZN ), Apple ( AAPL ), Netflix ( NFLX ) and Google ( GOOG ), companies that are already powerhouses in the content g... [Full Article...]

Ofo applies for e-scooter scheme license in San Francisco

Ofo applies for e-scooter scheme license in San Francisco Motivate also operates bike-share programs in eight U.S. cities, including San Francisco, Washington and Boston, and reported 3.18 million rides last month. To apply for a scooter permit the cost is $5,000 and winners will have the pay $25,000 per year to the city and contribute another $10,000 to property repairs as well as maintenance endowment. [Full Article...]

U.S. rights group hits Amazon, Foxconn over China labour conditions

U.S. rights group hits Amazon, Foxconn over China labour conditions Moreover, the report by China Labor Watch detailed how staff dormitories lack basic fire safety precautions, including the lack of emergency exits or fire extinguishers. Amazon said it was aware of "two issues of concern" at the Foxconn factory earlier this year involving despatch workers and overtime pay, CNN reports. [Full Article...]

Nirav Modi Seeks Political Asylum In UK Weeks After NDTV Report

Nirav Modi Seeks Political Asylum In UK Weeks After NDTV Report Investigators have arrested 25 people for enabling the defrauding of the bank with forged documents. His high-end eponymous brand has stores in several of the world's major cities and boasts celebrity customers including actresses Naomi Watts and Kate Winslet and Bollywood megastar Priyanka Chopra. [Full Article...]

Domino’s Will Now Fix Your Potholes With ‘Paving For Pizza’ Program

Domino’s Will Now Fix Your Potholes With ‘Paving For Pizza’ Program Domino's Pizza says potholes are putting its pizzas at risk, so the company is helping smooth out roads for delivery drivers. And no, they're not kidding, they really are filling in potholes, although not at random, as towns need to be nominated on the Paving For Pizza website. [Full Article...]

Trump, Kim agree to repatriating U.S. military remains

Trump, Kim agree to repatriating U.S. military remains The most tangible outcome of Tuesday's summit between President Donald Trump and North Korean leader Kim Jong Un appeared to be a commitment to recover the remains of USA military personnel missing in action and presumed dead from the Korean War. [Full Article...]

Amazon just gave Prime members even better deals at Whole Foods

Amazon just gave Prime members even better deals at Whole Foods This spring, Amazon said it was raising the price of its annual Prime membership fee to $119 a year, up 20 percent from $99. Plus, Whole Foods has launched even more discounts on some of the store's best-selling products. The discounts include $2-per-pound savings on organic yellow nectarines and peaches; buy one, get one free purchases of Annie's Natural Macaroni & Cheese; and $3-per-pound ... [Full Article...]


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