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Steel industry braces for USA tariffs on European exports

European and United States equities lost ground slightly on fears the U.S. measures could spark a trade war. The US has announced plans to impose tariffs on steel and aluminium from the European Union starting at midnight. tariffs. European officials argue that tit-for-tat tariffs will hurt growth on both sides of the Atlantic. 'We think on the contrary that global trade must have rules in a context of multilateralism. Read More »

Amazon to restrict Australian customers to local site in July


Before the change, GST only applied to items purchased overseas worth more than $1000. The primary reason behind the move seems to be the sheer scale of logistics involved in collecting the tax and depositing it with the government. Australians will be restricted to Amazon's local website from July. This is obviously a bit of a blow for Aussie shoppers - the USA version of the site has a vastly larger selection of goods available, many of which were cheaper even after factoring in ... Read More »

GDPR Compliance Presents Challenges That Moving to the Cloud Can Ease


As of last Friday, 25 May 2018 GDPR become law, with the new regulation aiming to give consumers more control over their online data. Mukul Shrivastava, Partner, Fraud Investigation and Dispute Services, EY, said the companies should be able to identify where PII (personally identifiable information) is stored and build infrastructure to access and delete data on request. Read More »

AirAsia CEO Tony Fernandes, others booked by CBI


The CBI has alleged that Fernandes allegedly lobbied with government servants for clearances, subversion of existing 5/20 rule and amendment in regulatory policies. After more than a decade of deliberation, India in 2016 scrapped a restrictive rule that only granted global licenses to carriers with five years of domestic operations and a minimum of 20 aircraft in their fleet. Read More »

Amazon to block Australian shoppers from its U.S. website


The move will drive traffic to Amazon's Australian website, which has drawn criticism for a thin product range and uncompetitive prices since it began taking orders in December. "As a result of changes to Australian GST law on 1 July, worldwide shopping options for Australian customers will change". Shoppers visiting those sites will be redirected to, which launched late past year. Read More »

Britain wants Brexit talks to be more constructive - UK PM May's spokesman

The EDPB, an EU body tasked with applying and regulating GDPR consistently across member states, comprises the head of each nation's regulator and the European Data Protection Supervisor (EDPS) or their representatives. This autonomy allows us to set standards for the whole of the European Union, but also to see these standards being replicated around the world. In response, the European Union chief Brexit negotiator said "We cannot, we will not be able to share this decisional autonomy ... Read More »

Geekwire: Jeff Bezos: ‘We will have to leave this planet'


His space venture Blue Origin would work in collaboration with National Aeronautics and Space Administration ( NASA ) and European Space Agency ( ESA ) to create colonization on the moon . Just like Elon Musk , the world richest man also has his own set of extraterrestrial dreams. These deposits could be converted into drinkable water, breathable air, and even energy for rockets. Read More »

National Donut Day 2018: Free doughnuts and other deals happening June 1


Each special edition Whopper will be served with a mini slider, the donut hole of the cheeseburger. Krispy Kreme: This donut chain is dishing out the donuts at zero charges. The once in a lifetime (year) burger will be offered on June 1st. A holiday sure to fill our hearts (and our stomachs), these Baton Rouge doughnut shops are ready to celebrate. Read More »

Italy on the edge of crisis


As soon as Conte took his first step on the political stage, it was revealed that he had inflated his CV with false claims of appointments as a researcher at various universities in the USA and Europe. Former constitutional court judge Mattarella said he had accepted every proposed minister except Savona, who has called the euro a "German cage" and has said that Italy needs a plan to leave the single currency "if necessary". Read More »

Tesla Model 3 gets CR recommendation after OTA brake update


Last week , the Model 3 failed to receive the Consumer Reports' recommendation because of "big flaws", including long-stopping distances in the emergency braking test and "difficult to use controls". "UI improvements coming via remote software update later this month", Tesla Chief Executive Officer Elon Musk said in a tweet here in response to the report. Read More »

USA following through on 25 percent Chinese tariff


China on Wednesday lashed out at Washington's unexpected statement that it will press ahead with tariffs and restrictions on investments by Chinese companies, saying Beijing was ready to fight back if Washington was looking to ignite a trade war. Read More »

Microsoft's value overtakes Alphabet for the first time in three years

According to a report in Investor's Business Daily late Tuesday, Microsoft had a market cap of $753 billion at the close of trading, nearly $14 billion ahead of Alphabet . Microsoft's booming cloud-computing business is part of what has spurred its growth. Amazon's AWS is now the market leader in the cloud space. Now it is focused on selling subscription software (such as Office 365, Azure and Dynamics 365) through the internet cloud. Read More »

Embattled Carphone Warehouse owner to shut 92 stores


The company said that changing consumer behaviour, such as a less frequent upgrade cycle and the increased popularity of SIM Only tariffs and SIM-free handsets, contributed to a squeezing of margins and flat sales in its mobile division. "In both, we'll work hard to improve our cost efficiency". The group, which also owns the Currys and PC World electrical brands, posted an increase in sales in the year to 16 April, but said pre-tax profit in its full-year results in June would come in at ... Read More »

10 injured after man falsely claims bomb on Indonesia plane


They confirmed there were no explosives in his bag or on the plane. Passengers gathered on wing of a Lion Air Boeing 737 to escape a bomb scare. After Nirigi made the bomb claim, another passenger broke open the emergency exits, enabling panicked passengers to flee the aircraft, Purnomo said. Read More »

The ultimate flight: Singapore Airlines' 19-hour ultra-marathon to New York

Qantas has said it is considering buying the Airbus A350-900ULR so it can fly non-stop from Sydney to London from 2022 - a route which would trump Singapore-New York for length and would be welcomed by business travellers. The A350-900ULR has just rolled out of Airbus' Toulouse manufacturing plant and is undergoing flight tests. It will take delivery of its first one in September and receive all by the end of the year. Read More »

De Beers targets millennials with man-made diamonds


De Beers said it would spend $94m creating a new Element Six factory near Portland, Oregon. Diamond Producers Association's chief executive, Jean-Marc Lieberherr, welcomed the news as it expects it to set a new standard in the disclosure and marketing of synthetic diamonds. Read More »

Petrol and diesel prices reduced by 1 paisa, clarifies IOC


Petrol in Delhi now costs Rs 78.42 per litre and diesel Rs 69.30. The revised petrol prices in metropolitan cities are - Delhi: Rs 77.83 per litre, Mumbai: 85.65, Kolkata: 80.47 and Chennai: 80.80. However, many linked the unofficial freeze to the Karnataka election. The government has been facing huge criticism for failing to lower taxes on fuel, so that the consumers could be protected from the effects of rising global crude prices. Read More »

Italy's Woes Exact A Toll On Wall Street


South Korea's KOSPI and Australia's S&P/ASX 200 slipped 2.0 percent and 0.5 percent, respectively. The S&P 500 posted 7 new 52-week highs and 12 new lows; the Nasdaq Composite recorded 87 new highs and 48 new lows. It's helped the yield on the US 10-year drop to 2.859%, making the concerns about 3% seem like a long, long time ago. Italy was plunged into crisis when the country's president, Sergio Mattarella , at the weekend vetoed the nomination of a fierce eurosceptic as economy ... Read More »

California Starts Pilot With Digital License Plates, What It’ll Cost You


Drivers will have to go to a dealership to have the digital plates installed. However, would-be thieves could simply detach the plates, rendering this feature rather useless. The plates are not available through the Department of Motor Vehicles. Unlike regular licence plates, the new digital versions are only available through auto dealerships, and can not be purchased through the state's DMV. Read More »

Tesla driver using Autopilot mode hits police vehicle


Sergeant Jim Cota, a public information officer for the Laguna Beach Police Department, posted photos of the incident's aftermath on Twitter. This week, Palo Alto-based Tesla said Autopilot was not engaged when a Model S veered off a road and plunged into a pond outside San Francisco, killing the driver. Read More »

Cheers! Coca-Cola launches first boozy drink in Japan


They're edging their way in to the country's popular "chuchai" or "chu-hi" - alcopop - market and will be marketed towards young women, according to the Daily Mail . The flavour? A fizzy lemon-flavoured "alcopop". While the Coca-Cola Company owned a winery from 1977 to 1983, it has never directly sold an alcoholic beverage in its 132-year history. Read More »

Jeff Bezos talks about his moon colony plans


Amazon founder Jeff Bezos predicts a future where humans will have to leave Earth, with the planet being reserved exclusively for "residential and light industrial" activities. Blue Origin has already hinted at its lunar ambitions with Blue Moon, a lander concept capable of placing several tons of cargo on the lunar surface. Read More »

Krispy Kreme Owner Bets Americans Will Eat at Pret A Manger


JAB is buying Pret from private equity firm Bridgepoint and other minority investors for an undisclosed sum. "Management's proven track record and commitment to customer service, investment in innovation and approach to freshly prepared food position Pret well as it capitalizes on evolving consumer taste and lifestyle preferences", Olivier Goudet, JAB's chief executive, said in a statement . Read More »

Pret A Manger makes 312% profit for private equity in 10 years

Bridgepoint, which bought the chain for £364m in 2008, declined to reveal the terms of the deal, but the Financial Times reported it valued Pret at £1.5bn including debt - 15 times its annual earnings. Bridgepoint bought a majority stake in Pret a decade ago for about 345 million pounds and had been examining an exit via a NY stock market listing before opting to sell to JAB. Read More »

BMO, Simplii Financial Report Possible Data Breaches


Simplii Financial, an online bank subsidiary of Canadian Imperial Bank of Commerce , also reported Monday that information for roughly 40,000 customers may have been stolen. CIBC said it has not yet confirmed the cyber breach but is taking the claim seriously. Both banks said they were contacting customers and advising them to monitor their accounts and report any suspicious activity. Read More »

European Union proposes ban on plastic straws, cutlery


The EC's proposal will now go to the European Parliament and Council for adoption. Green Party leader Eamon Ryan also welcomed the moves but said they "mirror" elements of his party's Waste Bill. The proposal also requires European Union countries to collect 90 percent of single-use plastic drink bottles by 2025 and producers to help cover costs of waste management and clean-up. Read More »

Dixons Carphone warns on profit, to close stores


The group has around 1,100 sites nationwide. "The key question remains as to what, ultimately, the Carphone Warehouse will look like and how profitable this can be". Over the past year, the firm has been particularly hit by the trend of customers skipping mobile upgrades - profits fell 60 per cent in its half-year to December 2017 . Read More »

Starbucks anti-bias training to teach staff about stereotypes, civil rights movement


From there, employees will "move into a real and honest exploration of bias" where, in small groups, they can share how the issue comes up in their daily work life. According to documents Starbucks sent to store workers, employees should also think carefully when dealing with disruptive customers. Robinson and Nelson settled with the city and received a symbolic $1 each , with the promise from local officials to set up a $200,000 scholarship program for young entrepreneurs. Read More »