Economy

McDonald's to test out paper straws overseas

McDonald's to test out paper straws overseas The United Kingdom and Ireland are not the only countries that are expected to take part in this first phase of the plastic straw initiative. The Island's outlet on Peel Road went through 60,000 in May alone. "McDonald's has made a significant investment in United Kingdom manufacturing to produce an alternative to plastic, showing British businesses are taking a global lead", he said in a state... [Full Article...]

Chicago takes a flyer on Elon Musk's unproven Boring Company

Chicago takes a flyer on Elon Musk's unproven Boring Company City officials will negotiate exclusively with Boring for a year over details of the project, Bloomberg said. " Chicago is always looking at what's possible and then making it achievable", Emanuel said. Alderman Scott Waguespack, a member of the City Council's progressive caucus, said Emanuel was again putting the interests of billionaires and big corporations ahead of the needs of neighborhood... [Full Article...]

Canada Goose to open stores in Montreal, Vancouver and U.S.

Canada Goose to open stores in Montreal, Vancouver and U.S. Canada Goose Holdings Inc. CSFB reissued an outperform rating and set a C$52.00 price target on shares of Canada Goose in a report on Tuesday, March 13th. Finally, Credit Suisse Group initiated coverage on Canada Goose in a report on Monday, March 12th. RBC Capital Markets' Brian Tunick reiterated an Outperform rating on the shares, writing that the company is in the early stages of its g... [Full Article...]

McDonald’s to switch from plastic to paper straws in U.K., Ireland

McDonald’s to switch from plastic to paper straws in U.K., Ireland The Government has unveiled plans that could see plastic straws, drinks stirrers and cotton buds banned from sale in England as part of efforts to cut the amount of waste which ends up rivers and oceans. The chain may be forced to phase out plastic straws whether they want to or not. The switch does not yet extend to the rest of McDonald's global empire, but trials will begin in selected resta... [Full Article...]

Chinese ride-sharing giant Didi picks Australia for first Western foray

Chinese ride-sharing giant Didi picks Australia for first Western foray Having launched Fitbit into Australia in 2014, which grew to take 88% of market share, Scriven is confident the agency can drive Didi's dominance in the rideshare category. This would make Australia their first western foray and would once again put them in direct competition with Uber, although admittedly Uber has been established within Australia for quite a while, so it is unclear as to wheth... [Full Article...]

Euro headed for worst week since 2016 World, news for Ireland, FX,World,

Euro headed for worst week since 2016 World, news for Ireland, FX,World, Asia markets look set to end the week on a cautious note after their post Fed sell off yesterday, after the Bank of Japan left monetary policy unchanged, adopting a steady as she goes approach, unlike the ECB yesterday whose guidance came across as much more dovish than expected. [Full Article...]

Bhp Approves South Flank Development

Bhp Approves South Flank Development In an announcement on Thursday (June 14), the company said its board has given the go ahead for US$2.9 billion to be sunk into the South Flank project in the Pilbara region of Western Australia. BHP has selected CIMIC's CPB Contractors to deliver the construction of bulk earthworks, concrete and underground services for the development. Production at Eliwana is expected to begin in late 2020, ... [Full Article...]

US, China firms brace for escalating trade war

The official Xinhua news agency said China would impose 25 percent tariffs on 659 USA products, ranging from soybeans and autos to seafood. The Office of the United States Trade Representative (USTR) released a list of products imported from China that will be subject to additional tariffs . [Full Article...]

Cash-strapped Rolls-Royce to cut 4,600 jobs, mostly in the UK

Cash-strapped Rolls-Royce to cut 4,600 jobs, mostly in the UK Rolls-Royce has a 1 year low of $11.01 and a 1 year high of $13.29. Speaking of the reason behind the job cut, the company said that CEO Warren East meant to simplify the business and generate more cash. Mr East said: "It is never an easy decision to reduce our workforce, but we must create a commercial organisation that is as world-leading as our technologies". [Full Article...]

UK's N Brown may close 20 stores on receding footfalls

UK's N Brown may close 20 stores on receding footfalls The decision - which concerns 12 dual-brand Simply Be and Jacamo outlets and eight High and Mighty stores - puts 270 jobs at risk. Around 75% of the company's revenue is now generated online, while its stores only generated 2% of group revenue and posted a combined loss of £3m. [Full Article...]

All eyes on Opec as Trump gripes over prices

All eyes on Opec as Trump gripes over prices Saudi Arabia , Opec's biggest producer, also seems to be restoring halted output, having pumped more than 10 million barrels a day last month for the first time since October, according to a person familiar with the matter. Although Saudi Arabia has benefited from oil's rally over the last two years, the government relies on a strong security relationship with the US, giving Washington some infl... [Full Article...]

One sheriff’s deputy killed, another critical after shooting outside Kansas courthouse

One sheriff’s deputy killed, another critical after shooting outside Kansas courthouse Local news outlets are reporting that the shooting occurred about 11:30 a.m. Friday. Wyandotte County Sheriff's Deputy Theresa King, a 13-year veteran of the department, has died following Friday's shooting. Police Chief Rick Smith says the officers " did what they thought was necessary ". Additional information was not released. The building is used for juvenile court, but Blair says it is un... [Full Article...]

USA and China Officially in a Trade War over "Unfair Trade Practices"

USA and China Officially in a Trade War over The duties, which will make Chinese goods more expensive for USA customers, were imposed "in light of China's theft of intellectual property and technology and its other unfair trade practices", the White House statement said. The announcement comes as trade conflicts between the world's largest two economies are on the rise. "China has, for example, always been engaging in several unfai... [Full Article...]

Major online agencies unaffected by Supreme Court ruling

Major online agencies unaffected by Supreme Court ruling Pimlico Plumbers, headed by flamboyant businessman Charlie Mullins , has been fighting the case ever since it was first taken to a tribunal in 2011. If an individual has, in reality, a genuine opportunity to send someone else to do the work, that is indicative of a more arms-length, commercial relationship - and should not allow the individual contracting party to afford themselves of "worker rig... [Full Article...]

Theranos founder Elizabeth Holmes indicted for alleged fraud; out as CEO

Theranos founder Elizabeth Holmes indicted for alleged fraud; out as CEO Shortly before the indictments were announced on Friday, the company said that Holmes would step down as chief executive officer. Theranos's general counsel, David Taylor, has been appointed CEO. The company allegedly claimed that the product was used by the Defense Department on the battlefield in Afghanistan, generating $100 million in revenue for the company in 2014. [Full Article...]

Trump announces United States tariffs on $50 billion in Chinese imports

Trump announces United States tariffs on $50 billion in Chinese imports The latest list specifically targets products that benefit from China's industrial subsidies, including the " Made in China 2025 " technology plan. In a statement Friday morning, the president said: "The United States can no longer tolerate losing our technology and intellectual property through unfair economic practices". [Full Article...]

Computer glitch strands thousands of travelers at Charlotte airport

Computer glitch strands thousands of travelers at Charlotte airport The airline is encouraging all passengers to check their flight status on the American Airlines app, or aa.com, before heading to the airport. Asheville Regional Airport also reported three cancelled arrivals from Charlotte. Vehicle rental businesses are also struggling to accommodate the stranded passengers. Officials with Charlotte-Douglas tweeted Friday morning saying that PSA plans to re... [Full Article...]

McDonald's Will Ditch Plastic Straws Later This Year

McDonald's will begin to withdraw plastic straws from sale in September. McDonald's will replace all the plastic straws in its restaurants in the United Kingdom and Ireland with paper ones by next year, the fast food giant has revealed. Many end up in landfill and the oceans, and the BBC's Blue Planet II highlighted the damage plastic can cause to marine wildlife. Plastic straws enable man... [Full Article...]

Kellogg issues massive Honey Smacks recall over Salmonella risk

Kellogg issues massive Honey Smacks recall over Salmonella risk The agency said 30 of the 39 people interviewed about the foods they ate in the week before they grew ill reported eating cold cereal, and 14 people specifically reported eating Kellogg's Honey Smacks. The company said the affected products are 15.3-ounce and 23-ounce packages of Honey Smacks with "use by" dates of June 14, 2018 through June 14, 2019. [Full Article...]

China trade tensions escalate as Trump approves $50bn of tariffs

China trade tensions escalate as Trump approves $50bn of tariffs It remained unclear when Trump would impose the tariffs, if he decides to do so. Trump was due to give details later on Friday of a revised list of 800 product categories, down from 1,300, according to an administration official and an industry source familiar with the list. [Full Article...]


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