Business

Nissan cuts outlook and books Ghosn charges

Nissan cuts outlook and books Ghosn charges Ghosn has denied the charges and has repeatedly said he is innocent. The company also owns a stake in the Japanese firm Nissan, which ousted Ghosn after he was arrested in November for allegedly failing to disclose more than $80 million (€70 million) from 2010-18 in compensation that he had arranged to be paid later. [Full Article...]

Amazon Acquires Home WiFi System Provider Eero

Amazon Acquires Home WiFi System Provider Eero The home router manufacturer also offers Eero Plus - a paid service that extends parental controls and security beyond the router's normal capabilities. Amazon, a builder of the hit Echo smart speaker line, is behind a growing range of home electronics, from Fire TV streaming sticks to a voice-controlled microwave. [Full Article...]

Bill Gates says he should pay higher taxes, doesn't 'deserve' his fortune

Bill Gates says he should pay higher taxes, doesn't 'deserve' his fortune The top marginal rate is now 37 percent. 'Now, you finally have some politicians who are so extreme that I'd say, "No, that's even beyond". Gates , who has never been shy with his economic opinions , suggested Congress focus instead on Social Security, a capital tax and estate taxes, among other things, to shift more of a burden to the most wealthy. [Full Article...]

Three people hospitalised after plane 'nose dives twice' before emergency landing

Three people hospitalised after plane 'nose dives twice' before emergency landing The Seattle-bound Delta Airlines flight was being operated by Compass Airlines and had about 60 people on board when it was shaken by severe storms ravaging the California skies on Wednesday. Passengers spoke about the plane taking a nose-dive twice because of the extreme conditions. A winter storm warning is in effect for the Lake Tahoe area through 11 p.m. [Full Article...]

JPMorgan is launching its own cryptocurrency-but it's nothing like Bitcoin

JPMorgan is launching its own cryptocurrency-but it's nothing like Bitcoin The trial launch of the new bank-issued coin is about to take place in several months. The industry has mostly shunned the asset class as too risky. It is worth noting that JP Morgan previously imposed a ban on cryptocurrency purchases via bank accounts. [Full Article...]

Amazon Abandons Plans for Second Headquarters in NY

Amazon Abandons Plans for Second Headquarters in NY The project's cancellation comes days after Breitbart News' Lucas Nolan reported that the e-commerce behemoth had begun to reconsider building the headquarters due to ongoing opposition from NY officials. But the plan has strong support from the population as a whole. De Blasio criticized Amazon for its abrupt withdrawal, saying the company gave up on trying to engage New Yorkers. [Full Article...]

Brother of mistress leaked Amazon CEO Jeff Bezos' intimate text

Brother of mistress leaked Amazon CEO Jeff Bezos' intimate text When his name was first floated as a possibility in January, Sanchez told the Washington Post , which is owned by Bezos, that he was not the source and called claims about him "lies, half-truths, sloppy tabloid leaks, [and] insane conspiracy theories". [Full Article...]

Electric vehicle maker Rivian plans to power up

Electric vehicle maker Rivian plans to power up If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. The No. 1 United States automaker is counting on profit from sales of conventional large pickup trucks and sport utility vehicles in North America to fund its electrification push. [Full Article...]

Amazon Is Buying Wi-Fi Router Company eero

Amazon Is Buying Wi-Fi Router Company eero Financial terms of the deal were not disclosed, but eero had previously raised $90 million in funding. He said Amazon's acquisition of eero will give it "critical infrastructure for the connected home", and suspects that eero's roadmap involved adjacent areas that play into home automation services and cybersecurity (the latter is already being addressed partly with the eero Plus offering). [Full Article...]

Tesla Disses Cats, Rolls Out Dog Mode In Over-The-Air Update

Tesla Disses Cats, Rolls Out Dog Mode In Over-The-Air Update The same software update also introduces " Sentry Mode ". When switched on, the vehicle enters a standby mode, in which it continually monitors its nearby surroundings with external cameras. The final mode, which takes place if a major threat occurs - such as a broken window - will active the Tesla's alarm, increase the display's brightness, and play music at maximum volume. [Full Article...]

Trump tariffs bring in additional US$9 billion in 1st quarter

Trump tariffs bring in additional US$9 billion in 1st quarter However, US President Donald Trump said earlier this week that he could let the deadline "slide" if a deal appears to be close, while Bloomberg reported on Thursday that Trump is considering extending the deadline by another 60 days. Trump's December agreement to postpone more tariff hikes while the two sides negotiate expires March 1. "China will continue resisting US demands in certain are... [Full Article...]

Airbus scraps production of A380 superjumbo

Airbus scraps production of A380 superjumbo What did Airbus say about the decision? The decision came after Emirates reduced its order of the model from 162 to 123 aircraft. Barely a decade after the 500-plus-seat plane started carrying passengers, Airbus said in a statement that key client Emirates is cutting back its orders for the plane, and as a result, "we have no substantial A380 backlog and hence no basis to sustain produ... [Full Article...]

China’s Xi to Meet Top US Trade Officials

China’s Xi to Meet Top US Trade Officials Mnuchin appeared at a Beijing hotel a couple of days ahead of scheduled high-level meetings with Chinese officials in the capital, with a March 1 deadline looming to strike an accord. "When the time is right, the hope would be that the personal chemistry that exists (between Trump and Xi) will pay dividends", said Erin Ennis, senior vice-president at the U.S. [Full Article...]

Oil prices rise on OPEC output cuts, as US sanctions bite

Oil prices rise on OPEC output cuts, as US sanctions bite Previous pacts by OPEC and its partners including Russian Federation, often called OPEC+, to cut back production have been marked by initial low compliance rates by certain countries. The IEA raised its estimate of growth in crude supply from outside the Organization of the Petroleum Exporting Countries to 1.8 million bpd in 2019, from 1.6 million bpd previously. [Full Article...]

Lufthansa sues passenger for missing the last leg of their flight

Lufthansa sues passenger for missing the last leg of their flight Lufthansa is cracking down on a way for airline passengers to get cheaper fares-with a lawsuit that brings fresh attention to the practice. Lufthansa launched the legal action against the single, solitary passenger as a means of blocking the reasonably common "hidden city" travel hack, which involves deliberately missing a connecting flight in order to save money. [Full Article...]

More rate cuts could be in store as core inflation eases

Inflation was dragged lower as a steep decline in oil prices that took place late a year ago appeared in petrol prices charged at the pumps, while Ofgem's new energy price cap was also seen weighing on the index. That difference is now negligible, helping the Bank of England as it holds off on fresh interest rate hikes pending the outcome of Britain's Brexit stand-off with the rest of the EU. [Full Article...]

Struggling Apple looks for ways to stay afloat in China

Struggling Apple looks for ways to stay afloat in China The overall Chinese market contracted by 9.7 percent in the quarter, but Apple declined at about twice that pace, research firm IDC said yesterday in a report. The quarter is traditionally a peak season for smartphone sales. Revenue from sales of Macs, Apple's wearables, home products and various accessories also sold well during the quarter. [Full Article...]

Reddit Raises $300 Million At $3 Billion Valuation, With Tencent Among Backers

Much of that criticism has come from Reddit users. While it seems unlikely that Tencent and other investors would be able to control what gets posted on Reddit , it did not stop a number of users from protesting it. The government's internet censorship regime uses a series of technical measures to block foreign platforms and controversial content. To protest the move and express fears of fr... [Full Article...]

Tesla will roll out 'Dog Mode' to protect pets

Tesla will roll out 'Dog Mode' to protect pets Now the company focuses on deliveries in China and Europe. "There are not enough deliveries", one of the former employees told Reuters . Total EV sales last year brought the share of plug-in cars to 2.1 percent, which, albeit not a very impressive figure on its own, is a lot more than EVs accounted for just two years ago. [Full Article...]

Oil up almost 2% on OPEC cuts, USA sanctions

Oil up almost 2% on OPEC cuts, USA sanctions OPEC members along with allies including Russian Federation agreed in early December to trim production by 1.2 mbd from January 1, in a bid to eliminate a production glut and shore up prices. World oil demand will grow more slowly this year, OPEC said, and non-OPEC production will rise more rapidly than expected. In the report, OPEC cut its forecast for 2019 world economic growth by 0.2 percen... [Full Article...]


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