Business

Despite strong jobs data, Bank of Canada seen keeping rates steady

Kelowna boasts the province's lowest unemployment rate, dipping two ticks last month to 3.1 per cent. "It might catch your eye that you have this massive print in youth employment, but the actual story is that youth employment over the a year ago is just flat; it was reversing some of the losses we've seen recently", said Royce Mendes, senior economist at CIBC World Markets. [Full Article...]

IHOP debuting 'Pancizzas' in honor of National Pizza Day

IHOP debuting 'Pancizzas' in honor of National Pizza Day Chuck E. Cheese: Chuck E. Cheese is celebrating the holiday by upgrading any large pizza to an XL for free from February 4-9. Toppers Pizza: Pick any two of either house pizza, three-topping pizza or 'Stix of any size for $9.99 each when you order online only. [Full Article...]

Fire extinguished at automated complex of Britain's Ocado

Fire extinguished at automated complex of Britain's Ocado Retailers served by the Walworth Business Park depot received an email from Booker informing them they would receive no deliveries on 7 February. Emergency services have been tackling the fire at the highly automated site full of robots in Andover since the early hours of Tuesday. [Full Article...]

Germany sets new limits on Facebook data collection

Germany sets new limits on Facebook data collection Collecting data from third party websites and assigning them to a Facebook user account will also only be possible if users give their voluntary consent. However, the FCO found that Facebook has a "dominant" position in social networking in Germany, with its 23 million daily active users representing 95 percent of the market - meaning there is no viable alternative service for most people. [Full Article...]

Experts react to BoE Bank Rate freeze

Experts react to BoE Bank Rate freeze The bank expects growth this year to be just 1.2% - the slowest since 2009 when the economy was in recession. Britain's lenders could support the economy through a "disorderly" Brexit , the Bank of England said Tuesday, as the sector passed its latest round of stress tests. [Full Article...]

Amazon's HQ2 NYC: Amazon reconsiders headquarters after local opposition, report says

Amazon's HQ2 NYC: Amazon reconsiders headquarters after local opposition, report says It noted that the company's plan to build its HQ2 campus in Long Island City (located across the river from Manhattan in Queens) had faced opposition from local activists and politicians. Stuart Appelbaum, President of the Retail, Wholesale and Department Store Union, said if the Amazon deal falls apart they will have nobody to blame but themselves. [Full Article...]

Venezuela blocks border as Maduro tries to keep troops on side

Venezuela blocks border as Maduro tries to keep troops on side The Venezuelan military has barricaded the bridge at the border crossing between the two countries in a bid to block the aid from passing. At the same time, Juan Guaido, the Venezuelan National Assembly leader recognized as the country's rightful leader by more than 30 governments, was attacking Maduro for refusing to admit the supplies and called for street protests Tuesday. [Full Article...]

GM to pay hefty profit share to over 46,000 hourly employees

GM to pay hefty profit share to over 46,000 hourly employees Nomura dropped coverage on shares of General Motors in a report on Tuesday, November 6th. Advisors Preferred LLC acquired a new position in shares of General Motors during the fourth quarter worth $31,000. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. China was a weak spot in the final three months of last year, however, with operating profit in the country falling ... [Full Article...]

Huawei says it is open to digital 'supervision'

Huawei says it is open to digital 'supervision' The two Chinese mobile giants have been accused by the U.S. government of posing national security risks. In a letter to Norman Lamb MP, chairman of the House of Commons Science and Technology Committee, the firm pledged to spend £1.5 billion over five years to address security issues flagged last year. [Full Article...]

Startup Aurora gets $530 million boost to build self-driving cars

Startup Aurora gets $530 million boost to build self-driving cars Sequoia Capital and T.Rowe Price were also major investors during the investment round, altogether signaling a vote of confidence in the self-driving competition now underway that Amazon apparently doesn't intend to miss out on. Amazon, a logistics and delivery behemoth, has shown interest in autonomous driving, recently launching a program to help developers test their own self-driving technol... [Full Article...]

Twitter Reveals How Many Daily Active Users It Has

Twitter Reveals How Many Daily Active Users It Has It expects capital expenditure of between $550 million and $600 million, well above analysts' average estimate of $415 million for 2019. In its guidance, the company offered a revenue range of $715 million to $775 million against analyst consensus of $764.9 million, according to Refinitiv data published by CNBC . [Full Article...]

Tata Motors loses over a billion dollars in market value

Tata Motors loses over a billion dollars in market value Speaking with CarAdvice in October a year ago, Jaguar Land Rover CEO Ralf Speth said the production slowdown was caused by something of a flawless storm. It delivered £500m of the programme in the third quarter. Speth said: "This is a hard time for the industry but we remain focused on ensuring sustainable and profitable growth and making targeted investments that will secure our busines... [Full Article...]

Amazon's Jeff Bezos Claims He's Being Extorted by National Enquirer

Amazon's Jeff Bezos Claims He's Being Extorted by National Enquirer The National Enquirer published a story last month that included lurid texts between Bezos and Sanchez . The billionaire did not say the tabloid was seeking money - instead, he said, the Enquirer wanted him to make a public statement that the tabloid's coverage was not politically motivated. [Full Article...]

Tesla cut its Model 3 prices again

Tesla cut its Model 3 prices again Now, Tesla has updated its website to the new pricing which shows that once the federal tax credit of $US3,750 and a fuel savings (based on 10,000 miles and a cost of $US2.85 per gallon) are applied, U.S. Tesla said on Tuesday it had cut the Model 3 price by $1,100, following a cut of as much as $2,000 in January. "We're doing everything we can to get there [$35,000]", Musk wrote on Twitter af... [Full Article...]

BB&T, SunTrust announce merger as Charlotte gains another bank headquarters

BB&T, SunTrust announce merger as Charlotte gains another bank headquarters On Thursday morning, BB&T (ticker: BBT) and SunTrust Banks (STI) said that they were merging. The two companies called it a merger of equals, valued at $66 billion. A new corporate headquarters will be established in Charlotte, N.C., including an Innovation and Technology Center to drive digital transformation. Since that time, the gap between the size of the big Wall Street banks and the... [Full Article...]

Oil ticks higher, market eyes US State of the Union address

Oil ticks higher, market eyes US State of the Union address Oil prices trade higher year to date, with WTI front-month contract prices up about 19%. United States crude oil inventories climbed by 1.3 million barrels in the week that ended February 1 to 447.21 million barrels, data from the Energy Information Administration (EIA) showed on Wednesday. [Full Article...]

Monetary Policy: RBI cuts key policy rate to 6.25%

Monetary Policy: RBI cuts key policy rate to 6.25% The repo rate is the rate at which the Reserve Bank lends short-term money to the banks, while the reverse repo rate is the rate at which the central bank borrows money from commercial banks. While RBI's mandate is price stability (targeting inflation), the RBI Act also says that it needs to do so "keeping in mind the objective of growth", Das said then to make his point. [Full Article...]

Royal Commission Triggers Relief Rally In Financials

Royal Commission Triggers Relief Rally In Financials Shares in the major banks on the Australian share market are surging today , in a "relief rally" following the release of the final report of the financial services royal commission. "It's a scathing assessment of conduct driven by greed, which fell far below community expectations", Treasurer Josh Frydenberg said. "It would be a bit milder than expected". [Full Article...]

Oil firms after two days of losses; eyes on Trump address

Oil firms after two days of losses; eyes on Trump address This news may have been offset by robust U.S.jobs data and a stronger-than-expected ISM Manufacturing PMI report on Friday, but traders turned bearish on Monday when the government reported that new orders for us -made goods unexpectedly fell in November amid sharp declines in demand for machinery and electrical equipment, suggesting a slowdown in manufacturing as 2018 ended. [Full Article...]

US, China committed to reaching trade deal by deadline: Mnuchin

US, China committed to reaching trade deal by deadline: Mnuchin The report said Asian countries are likely to suffer most from protectionism. The U.S. originally meant to boost its tariff on Chinese goods from 10% to 25% on January 1st, but the two sides agreed to a 90-day delay as they worked to reach a trade deal. [Full Article...]


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