Finance

Critics take aim at President Trump's call for Russian Federation to rejoin G7

Senate Democratic leader Chuck Schumer criticized the Republican president's leadership. The US president had earlier called for Russian Federation - which was suspended from the group in 2014, following Moscow's annexation of Crimea, and made a decision to leave permanently in 2017 - to be readmitted in the interests of realpolitik. [Full Article...]

Movie mogul Weinstein pleads not guilty to rape charges

Movie mogul Weinstein pleads not guilty to rape charges The decision was made by the court that Weinstein will return to court on September 22 for a hearing on motions in his case. More than 80 women, including the actresses Angelina Jolie, Gwyneth Paltrow , Ashley Judd, and Rose McGowan have come forward with similar stories about Weinstein. [Full Article...]

MACRON’S MUTINY: French President TURNS on TRUMP Ahead of G7 Summit

Trump and Kudlow are traveling to Quebec this week for a meeting of leaders from seven of the world's leading economies , and several of those officials have expressed frustration at Trump for his protectionist approach to trade. That's why he sees it as such a great and brilliant victory that he pulled us out of a series of global agreements: the Trans-Pacific Partnership, the Paris Climate Acco... [Full Article...]

Poundworld faces administration - and 5300 staff face an uncertain future

Poundworld faces administration - and 5300 staff face an uncertain future Poundworld is the latest retailer to feel the impact of the high street woes, and on the brink of administration. However, the retailer's advisers at Deloitte are understood to be preparing contingency plans for an administration should talks collapse. [Full Article...]

Google rules out using artificial intelligence for weapons

Google rules out using artificial intelligence for weapons Google has been moving forward with applying AI to their suite of products which as led to fun innovations such as the Auto Awesomes in Google Photos, as well as in more serious areas such as health and conservation which they showed off at their recent AI Stories event here in Sydney . [Full Article...]

Please OPEC Please! The Energy Report 06/05/18

Please OPEC Please! The Energy Report 06/05/18 Brent crude futures settled up $1.96 a barrel, or 2.6 percent at $77.32. Crude prices came under pressure after data suggested Chinese demand was waning and concerns lingered about growing US output. Three sources have told Reuters Venezuelan state firm PDVSA is considering declaring force majeure on some exports, after plummeting output and tanker bottlenecks at ports. [Full Article...]

US Trade Deficit Unexpectedly Continues To Narrow In April

US Trade Deficit Unexpectedly Continues To Narrow In April The goods deficit decreased 1.5% to $68.3 billion, while the services surplus slipped 0.1% to $22.1 billion. In April, the trade deficit in the USA reached a low of seven months as exports increased to record highs, driven by an increase in the number of shipments of soybeans and industrial materials. [Full Article...]

British Brexit backstop plan welcome, with caveats: Irish foreign minister

British Brexit backstop plan welcome, with caveats: Irish foreign minister She added: "We expect that the end-state customs arrangement at the latest will be in by December 2021 and we will be working to make sure that it is in earlier than that". The assurance came after May held a series of meetings with Brexit supporters in her Cabinet amid reports that David Davis, the minister leading negotiations with the European Union, had threatened to resign because an earlie... [Full Article...]

May in Canada to defend Trump as world fears trade SNUB

After the contentious salvos on social media and the Trudeau-Macron news conference, the White House announced Trump would depart the summit at 10:30 a.m. US President Donald Trump is not really fan of British Prime Minister Theresa May. World leaders gather today in Quebec, Canada, for a G7 meeting that has been overshadowed by the USA decision to impose steel tariffs on allies. [Full Article...]

Heinz Salad Cream to be renamed after 104-years of production

Heinz Salad Cream to be renamed after 104-years of production However the information is ready to trigger consternation amongst traditionalist, together with those that rallied to avoid wasting the model from extinction just a few years in the past. Salad cream became a popular condiment with Brits during the Second World War when tomato ketchup was hard to get hold of. In 1999 it was revealed that Heinz was about to ditch the brand. [Full Article...]

Italy's new government to seek lifting of anti-Russian sanctions

Italy's new government to seek lifting of anti-Russian sanctions In his 72-minute speech, PM Giuseppe Conte said priorities would be to address social hardship through the introduction of a universal income. But during the debate that followed, opposition senators from left to right ridiculed the government's proposed agenda as contradictory, superficial and fiscally unrealistic. [Full Article...]

Tesla involved in fatal crash sped up before hitting road barrier

Tesla involved in fatal crash sped up before hitting road barrier According to the report, "As the Tesla approached the paved gore area dividing the main travel lanes of US-101 from the SH-85 exit ramp, it moved to the left and entered the gore area". It's also worth noting that Tesla has made numerous updates to Autopilot since the crash in March, so the version of the software that was being used by Mr. [Full Article...]

Trustees report warns Medicare finances worsening

Trustees report warns Medicare finances worsening Lackluster economic growth in previous years, coupled with an aging population, has contributed to the projected shortages for both Social Security and Medicare. Democrats have for months asserted that Republicans would use the deficit - swollen by tax cuts - as "an excuse to cut Social Security and Medicare", in the words of Sen. [Full Article...]

Canada's Trudeau rejects U.S. proposal for bilateral trade pact

Canada's Trudeau rejects U.S. proposal for bilateral trade pact During the War of 1812 , which lasted until 1815, British troops did burn the White House in 1814 as retaliation for an American attack on York (now Toronto), Ontario. Mexico's retaliation is created to effect some parts of the United States represented by high-profile Republicans. The World Trade Organization on Thursday said Mexico has filed a formal complaint against the United States over... [Full Article...]

Britain to rule on Rupert Murdoch's bid for Sky on Tuesday

Britain to rule on Rupert Murdoch's bid for Sky on Tuesday Rupert Murdoch's bid to take full ownership of Sky has been thrown a lifeline. Culture Secretary Matt Hancock is expected to make a statement on the deal, the government added. Meanwhile Comcast - another U.S. media giant - has gate-crashed the party with a rival bid to buy Sky. The stock rose 0.3 percent to 13.54 pounds at 3:30 p.m.in London on Tuesday. [Full Article...]

Ethiopia to implement dormant peace deal with Eritrea

Ethiopia to implement dormant peace deal with Eritrea Since the formal end of the border conflict, Ethiopia and Eritrea have taken starkly different paths, with Eritrea growing increasingly isolated while Ethiopia has exerted power across the region, fuelled by an economy that has expanded at one of the fastest rates in Africa. [Full Article...]

Signs deal to sell Gilt, posts $400M loss

Signs deal to sell Gilt, posts $400M loss Absent these charges, the company said, gross profit as a percentage of sales would have improved 90 basis points. The Lord & Taylor flagship was supposed to shrink to 150,000 square feet next year - but now the oldest department store company in the U.S. [Full Article...]

ZTE reportedly signs preliminary deal to lift U.S. technology ban

ZTE reportedly signs preliminary deal to lift U.S. technology ban Chinese telecom giant ZTE said its major operations had ceased following last month's United States ban on American sales of critical technology to the company. ZTE also did not immediately respond to requests for comment. While it did fire the four employees, the company admitted to making false statements about the others, handing out full bonuses. [Full Article...]

RBI hikes repo rate by 25 basis points to 6.25%

RBI hikes repo rate by 25 basis points to 6.25% Crude oil prices since the last monetary policy review have moved to $80 per barrel, from the RBI's expectation of $65 per barrel. The RBI had earlier cited "administrative exigencies" as the reason for the longer meeting. The Reserve Bank of India on Wednesday raised its policy rate for the first time in over four years, due to inflation concerns, and it surprised some analysts by keeping its ... [Full Article...]

Data from 92 million accounts stolen from DNA testing site MyHeritage

Data from 92 million accounts stolen from DNA testing site MyHeritage The company reviewed the file and confirmed it contained the email addresses of every user who had signed up for MyHeritage before October 26, 2017, along with their hashed passwords, which hide a user's actual password. Even if genetic data from a commercial site like MyHeritage is compromised, it's not clear how they might be used. Deutsch added in a follow-up post published today that... [Full Article...]


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