Tuesday, 17 July 2018
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High-end speaker company Sonos is going public


Sonos Inc. filed for a US initial public offering as the wireless speaker pioneer gears up to take on increasing competition from Amazon , Google and Apple . In 2016, the company reported a net loss of $38.2 million from $901.3 million in revenue. The company set a placeholder value of $100 million, although that number could change before the IPO. Read More »

Gas prices are up and OPEC ‘doing little to help’


However, the global oil body's spare supplies are limited and "will not be enough if supply is additionally reduced by outages elsewhere", the bank said . Saudi Arabia's King Salman bin Abdulaziz Al Saud (L) receives US President Donald Trump for the Arab Islamic American Summit in Riyadh, Saudi Arabia May 21, 2017. Read More »

Micron says not been served with preliminary injunction


China placed a temporary ban on chip sales from Micron's Chinese subsidiaries, blocking the $59 billion company from the largest semiconductor market in the world, after a Chinese court ruled in favor of United Microelectronics' and Fujian Jinhua Integrated Circuit's January complaint that Micron infringed on patents in China protecting memory storage and other products. Read More »

Sino-US Trade War Begins


The Trump administration is poised to impose taxes on $50 billion of Chinese imports in high-tech industries, such as robotics, aerospace, and industrial machinery, in an attempt to punish Beijing for intellectual property theft and to rebalance a trade deficit. Read More »

Hispanic Unemployment Reaches Record Low, Media Praise Labor Force Rate

Not all of those who re-entered the market were able to find jobs, which contributed to the uptick in the unemployment rate. The decline in the unemployment rate was driven by an increase in employment; the region added slightly over 10,000 jobs between May and June, according to the federal statistics agency. Read More »

Trump Tariffs Against China Take Effect


It said the United States had violated World Trade Organization rules by imposing the tariffs, and indicated China would raise the issue with the regulatory body in time. Trump's tariffs around going after industrial goods and technology, a move created to take aim at Chinese President Xi Jinping's heralded Made in China 2025 plan. Read More »

Elon Musk Sends Team to Thailand to Help in Cave Rescue


Yesterday the target was an area known as chamber three - still at least two kilometres from the ledge where the boys are sheltering. But he stressed engineers from his Boring Co and SpaceX companies needed to be on site to actually see if they could do anything to help. Read More »

US job growth strong; unemployment rate rises to 4 per cent

Average hourly earnings are expected to have increased by 0.3% month-on-month and 2.8% compared to June 2017. Data for April and May was revised to show 37,000 more jobs created than previously reported . "What's surprising is not that employers may have to start increasing wages now as the labor market keeps tightening, but rather that they haven't felt that pressure yet", Elise Gould, senior economist at the Economic Policy Institute, said in a blog post . Read More »

The Collapsing Kentucky Bourbon Warehouse Is No More


Half of a seven-storey rackhouse at the Barton 1792 Distillery in Bardstown, Kentucky, collapsed on Wednesday, after the first half toppled on June 22, the Kentucky Standard reported. Bourbon ages for years in charred new oak barrels, where it acquires its color and flavor. It may be weeks before inspectors determine the cause of the collapse. Read More »

Singapore proposes fines on Grab, Uber, says merger harms competition


The Competition and Consumer Commission of Singapore now wants to levy fines and reconsider the merger because of the anticompetitive issues, CNBC says . All areas of CCCS's IMDs were complied with including maintaining base fare levels, surge factor and driver commission rates, according to the spokesperson. Read More »

Shouting CEO, changing rules: inside Tesla's Model 3-building sprint


In a note to investors on Monday, Analyst Trip Chowdhry of Global Equities said that in the preceding week, Tesla produced 5,000 of its Model 3 cars, along with a combined total of 2,000 Model S and Model X vehicles. Musk also announced a 9% across-the-board cut in jobs last month that may further thin its engineering ranks. "I don't believe their goal was to simply hit 5,000 a week and somehow revert to a lower production rate in the future", Albertine said. Read More »

Boeing's Embraer takeover reshapes global jet duopoly


Boeing was little changed at US$332.90 in early trading in NY. A year ago marked a significant escalation in the rivalry, when the Commerce Department sought to levy a almost 300 percent punitive tariff on Bombardier's C Series jets because of what it said were illegal Canadian subsidies. Read More »

Baidu’s self-driving buses roll off production lines as AI transformation continues


Video footage released by Baidu - often referred to as China's Google - shows the company's massive manufacturing facility in Xiamen, in southeastern China's Fujian province. The buses will feature Apollo 3 .0, the latest version of Baidu's open autonomous driving platform that was debuted past year. Early next year, Apolong buses are set to enter Japan's self-driving market as shuttle buses at nuclear power stations or in Tokyo to ferry around elderly people in local communities. Read More »

Dollar takes a breather as trade concerns linger


The Turkish lira, seen as an emerging markets weak link, fell more than 1 percent after data showed June inflation accelerating to 14-year highs, hit by oil prices and the pass-through from currency weakness TRY= . Analysts dismissed some claims that authorities are allowing the Chinese currency to weaken in order to offset the impact of any tariffs. China's yuan rose sharply against the dollar on Wednesday, a day after the central bank assured markets it would keep the currency stable amid ... Read More »

Joey Chestnut Sets New Record in Nathan's Hot Dog Eating Contest


Tens of thousands of spectators gather to watch the food battle. All other competitors simply couldn't keep up, and Chestnut opened up a double-digit lead about halfway through the 10-minute race. The prize money, as in years past, is $10,000 for the first place victor. Last year, he almost equaled that mark with 72 dogs . The contest came to life with a Polish immigrant named Nathan Handwerker who migrated to the U.S.in 1912. Read More »

Iran tells Donald Trump: Stop tweeting, it’s driving up oil prices


Mr. Trump tweeted Wednesday: "The OPEC Monopoly must remember that gas prices are up & they are doing little to help". If anything, they are driving prices higher as the United States defends many of their members for very little $'s. USA crude inventories fell by 4.5 million barrels in the week to June 29 to 416.9 million barrels, according to the American Petroleum Institute (API) on Tuesday. Read More »

Saudi Arabia to pump more oil following USA request


President Donald Trump has repeatedly expressed concern about oil prices in recent weeks and announced Saturday that King Salman of Saudi Arabia "has agreed" to raise daily oil production by 2 million barrels to ease the price pinch. Read More »

Citing security concerns, Trump bans China Mobile in US


The license allows authorization under Section 214 of the Communications Act of 1934 for a company to provide telecommunications services, which breaks down into a range of different service areas. China Mobile Communications Corp, a state-controlled firm, owned nearly 73 percent of China Mobile as of December, according to Thomson Reuters data. Read More »

Modi government approves Rs 200 hike in MSP for paddy


Terming it as a historic decision, the minister said the sharp increase in MSP was done after a lot of consideration and "not in hurry". The home minister said higher support prices would increase the "purchasing power" of farmers , which would have a "wider impact on the economy". Read More »

Hot dog eaters weigh-in for Nathan's Famous 2018 competition


The win is Chestnut's third straight victory and 11th overall in the last 12 years, but it didn't go without incident. Over on the ladies side of the competition, former three-time champion Sonya "The Black Widow" Thomas will take on four-time defending champion Miki Sudo . Read More »

Time difference gives China head start on tariff war with U.S.


The United States has imposed tariffs on European steel and aluminum imports and is conducting another national security study that could lead to tariffs on imports of cars and vehicle parts. imports are set to take effect on July 6. "As terrorist attacks, political violence (including demonstrations), criminal activities, and other security incidents often take place without any warning, US citizens are strongly encouraged to maintain a high level of vigilance and practice good situational ... Read More »

EU Warns US Against Car Tariffs


In retaliation, the European Union and Canada have slapped tariffs in a tit-for-tat move. The European Union says that for some goods, such as trucks, USA import duties are higher. The number of exports that could be hit by retaliatory tariffs among the 10 most vulnerable states ranges from $1.7 billion in Pennsylvania to $6.2 billion in Washington. Read More »

Ryanair pilots in Ireland have announced when they will strike

Ryanair pilots working in Ireland have announced a planned 24-hour strike for next week on 12 July. Ryanair (RYA.I) cabin crew are to hold coordinated strikes in four European countries, a union official said on Wednesday, escalating industrial action at Europe's largest low-priced carrier which dismissed their demands as "pointless". Read More »

Chinese tycoon dies in freak fall in France


His death complicates the troubled conglomerate's efforts to restructure and pay off borrowings, and could increase pressure on HNA to reveal more about its oft-criticized opaque ownership. According to a pledge signed by the 12 stakeholders, Wang's shares will now be split between the NY and Hainan branches of the Hainan Cihang Charity Foundation, which own the majority stake in the HNA Group . Read More »

Hyundai Eyeing Fiat-Chrysler As US 'Proxy'?


Since then, rumors about a takeover from the Volkswagen Group and Chinese automaker Great Wall have come and gone with much ado about nothing , but the recent rumors about Hyundai are a new twist. The report suggests that Fiat Chrysler's controlling families, the Elkanns and Agnellis, are eager to leave the carbuilding business behind once Marchionne steps down. Read More »

LeBron James banner comes down in Cleveland


Once James answered the question that had dominated the free agent picture for months, the Lakers began filling out the roster for next season, agreeing to one-year deals with swingman Lance Stephenson , guard Kentavious Caldwell-Pope and center JaVale McGee . Read More »

Will Trump abandon WTO rules and adopt the US Fart Act?

Trump is pushing a bill that's literally called the US FART Act. "Imposing tariffs will increase costs for consumers, lessen consumer choice, lower consumer demand, reduce vehicle and light truck production and sales, lower investment levels, and lead to job losses in the US auto sector", Matt Blunt, president of the American Automotive Policy Council, said in a statement. Read More »

Saudi says ready to pump more oil to balance market

These moves follow US President Donald Trump's decision in May to withdraw the United States from the Iran nuclear deal, formally known, as the Joint Comprehensive Plan of Action, which removed sanctions against the Islamic Republic in exchange for curbs on its nuclear program. Read More »

Top US business group assails Trump's handling of trade dispute


Trump has threatened to impose a 20% tariff on the import of cars assembled in the European Union if the bloc fails to withdraw its curbs on Washington . Warner warned if the USA were to hit Canada with auto tariffs, it would be "a real kick in the gut" to the country's economy. The US imported over $US43 billion worth of vehicles for people transportation in 2017. Read More »

Walmart under fire from conservatives for 'Impeach 45' shirts slamming Trump


The shirts that come in several shades - plus similar baby onesies and even frisbees - have the Twitter-sphere in a frenzy and spurred a grassroots call to boycott the world's biggest retailer. Walmart also had pro-Trump apparel available on its website, CBS News says others have pointed out. On June 27, Walmart announced that it was introducing a 3D virtual shopping tour on its website, as the retailer pours billions of dollars into beefing up its e-commerce business. Read More »