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German prosecutors charge ex-VW boss Winterkorn with fraud

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Mr Winterkorn and the others face from six months to 10 years imprisonment if convicted on charges of aggravated fraud involving serious losses. Winterkorn has denied any wrongdoing since the scandal emerged and stated in testimony that he only learned of the emissions cheating software at the heart of the scandal shortly before it became public in the fall of 2015. Read More »

Naresh Goyal pulls out of race for Jet Airways

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The carrier's subsidiary JetLite (S2, Delhi Int'l ) continues to operate a single jet aircraft, a B737-800 VT-SJI (msn 34399), on routes between Delhi, Mumbai Int'l , and Amritsar . Sources in the know told India Today that the lenders are unlikely to extend any interim funding as of now - they want to weigh the seriousness of bids received for the recently-concluded stake sale before firming up any funding plans. Read More »

India’s Jet Airways flying just 7 planes amid investor talks

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The pilots and engineers have not been paid since January. Once India's largest carrier, Jet Airways is now operating only seven of its 14 aircraft, and is flying only domestic routes, according to spokesman Gaurav Sahni. State Bank of India, which heads a lenders' consortium now in charge of the airline, has given Jet until Monday to submit an operations plan before it considers a US$145 million (RM596.6 million) cash injection. Read More »

Jet Airways temporarily suspends all flights

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Tonight 9W-2502 (Amritsar-Bombay-Delhi) will be last flight of beleaguered airline before a temporary closure. "Since no emergency funding from the lenders or any other source is forthcoming, the airline will not be able to pay for fuel or other critical services to keep the operations going. Read More »

Trump spends America's tax filing day in Minnesota

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The state's Democrats saw a huge overall resurgence during the anti-Trump backlash of 2018, notably in traditionally Republican suburbs of Minneapolis and St. So far Trump doesn't appear to be getting much credit for the tax changes. This year's Tax Freedom Day was to fall on April 16 - 105 days into the year. Read More »

Elon Musk Tweets Out Another Tesla Forecast in Midst of SEC Talks

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A USA judge gave the two sides until April 18 to meet for at least an hour and resolve their differences. Nathan will choose the Securities and Exchange Commission's motion to find Musk from contempt, When they don't. He agreed to pay $20 million, step down as chairman and seek pre-approval from an in-house securities lawyer before tweeting information material to the electric-car maker. Read More »

Uber to debut on NY bourse

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Outside the US-Canada combine, according to the miles of rides covered, Europe is the largest market (271 million) for Uber followed by Latin America (94 million), Japan/South Korea (79 million), and Middle East & Africa (74 million). Uber said that in many areas, Uber Eats is growing even faster than its ride-hailing business. Included in the S-1 was Uber's net income for 2018, which increased to $997m, a major jump in income from its 2017 net loss of over $4m. Read More »

OPEC projects to tighter oil market in 2019

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However, global oil markets remain firm, amid Opec+ supply cuts, US sanctions on oil exporters Venezuela and Iran and increased fighting in Opec member Libya. They meet on June 25-26 to decide whether to extend the pact. In March, OPEC crude oil production tumbled by 550,000 b/d with losses in Venezuela , together with lower output from Saudi Arabia and Iraq. Read More »

Trump’s sanctuary city idea could help migrants stay in the US

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The Post said the plan was rejected both times. The president has been in a long-running battle with Congress over the crisis as the southern border. America's Voice also argued that by having these cities in place, police have the ability to focus on more pressing, serious crimes instead of spending their time arresting and detaining undocumented immigrants. Read More »

Walmart Responds to Bezos with Tweet Asking Amazon to Pay Taxes

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Walmart has more than 1.5 million workers in the U.S. compared with just 350,000 at Amazon, so boosting wages would have more of an impact on the bottom line. Amazon.com Inc Chief Executive Officer Jeff Bezos on Thursday challenged rival retailers to increase their minimum wages to $16 an hour. In an annual letter to shareholders , Bezos said Amazon wants to hire hire employees "who can think like owners". Read More »

Mum on Senate support for Herman Cain for Fed

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White House economic adviser Larry Kudlow said on Thursday that he has confidence in Federal Reserve Chairman Jerome Powell and believes he will turn into a good central bank chairman. Some argue that the only impact Trump is having on the Fed is to make the central bank more likely to hike since the Fed doesn't want to appear to have lost its independence from politics. Read More »

FCC announces $20 billion for rural broadband providers, schedules third 5G auction

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The agency said he will talk about these 5G initiatives at a White House event with President Donald Trump later Friday. These frequencies are advertised to offer speeds up to 100 times faster than 4G, but with limited range. Huawei has repeatedly denied it poses a risk, even as USA officials say the Shenzhen-based company may be obligated by law to cooperate with Chinese security services. Read More »

Chevron reaches agreement to acquire Anadarko

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Chevron said it is an opportunity to "high-grade" its portfolio and plans to divest between £11.4bn and £15.2bn of assets between 2020 and 2022, with proceeds used to reduce debt and return cash to shareholders. shale producers. Anadarko submitted the second most applications for permits to begin drilling in Wyoming a year ago, but it trailed behind in actual production. Read More »

Trump considered daughter Ivanka for head of World Bank

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If he did nominate her , Mr Trump said, "they'd say nepotism, when it would've had nothing to do with nepotism". In the lengthy feature piece, Plott reports Ivanka Trump as acutely aware of her persona, and her "brand", which Trump has cultivated for the past several decades, and which the President's eldest daughter says has taken a hit since being part of the White House . Read More »

Tesla, Panasonic to seek productivity gains before new battery investments

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The pair had meant to raise capacity at the gigafactory near Reno, Nevada, by about 50 per cent by 2020 but financial problems forced a re-think, the newspaper said without citing its sources. " Panasonic established a battery production capacity of 35 gigawatt hours a year (GWh) in Tesla's Gigafactory 1 by the end of March 2019 in line with growing demand", Panasonic said in a statement provided to Reuters. Read More »

Wells Fargo 1Q profit rises 14 percent, tops estimates

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The Federal Reserve has signaled it is unlikely to raise interest rates in 2019 given risks to the US economy from a global slowdown, which investors have feared could pressure net interest income, or the difference between what a bank earns on loans and pays on deposits. Read More »

CPSC warns against Rock’n Plays for babies over 3 months

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All 10 infants were three months or older. "Fisher-Price warns consumers to stop using the product when infants can roll over, but the reported deaths show that some consumers are still using the product when infants are capable of rolling and without using the three point harness restraint", Fisher-Price said in a statement. Read More »

Tesla tweaks line-up, makes $35,000 Model 3 a special request item

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Tesla announced that Autopilot will now be standard on all Tesla vehicles (with the exception of the $35,000 car). Tesla is also offering a Model 3 lease for the first time, though with a big caveat. The electric automaker has removed the Model 3 Standard from its online ordering menu . The phasing-out of online Model 3 Standard sales comes a week after Tesla announced disappointing first-quarter auto deliveries. Read More »

An Amazon employee might have listened to your Alexa recording

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Alexa's human enablers confirm one of the common fears about the device: that it doesn't always wait for you to activate it to start recording you. Amazon also explained that, by default, its Echo speakers only begin sending audio to the cloud when it is activated with the press of a button or the device hears the chosen wake word , such as "Alexa" or "Amazon". Read More »

Fisher-Price recalls rocker amid reports of infant deaths

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The U.S. Consumer Product Safety Commission (CPSC) officially recalled 4.7 million Fisher-Price "Rock 'n Play Sleepers" Friday because of reports of infant deaths. "When parents purchase a product for their baby or child, many assume that if it's being sold in a store, it must be safe to use". In May 2018, the CPSC issued a warning to parents indicating they were "aware of infant deaths associated with inclined sleep products", specifically, "bassinet-like products with an inclined back ... Read More »

Consumer group urges full recall for infant seat linked to 32 deaths

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All were posted despite a federal warning issued to consumers "due to reports of death when infants roll over in the product". Fisher-Price received 600 reports of mold on the product, with some customers reporting their infants was treated for respiratory issues, coughs and hives after sleeping in the product, according to the CPSC. Read More »

Net Neutrality revival likely to stall after House passage

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Senate and President Donald Trump . The Save the Internet Act is the latest attempt by House Democrats to bring back Obama-era rules on net neutrality . "To prevent a Senate vote on this bill would be wrong, politically short-sighted and an underestimation of the internet's readiness to mobilize and fight for Net Neutrality". Read More »

Suresh Prabhu says directed aviation secretary to review Jet Airways' issues

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Yesterday Business Traveller reported that the airline had suspended flights to Singapore, and local media reports suggest this has been followed by the suspension of all global services, including London. " Jet Airways' flight 9W 615 Mumbai to Kolkata and 9W 675 from Kolkata to Guwahati on April 12 are cancelled due to operational reasons". Civil Aviation Secretary Pradeep Singh Kharola said last week that only 26 aircraft are operational while Jet Airways last month said it is now ... Read More »

Wing launches commercial drone delivery service in Canberra

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Local chocolate maker Peter Channels whose chocolates will be delivered by drone told ABC News that drone delivery was an opportunity to expand to a new market. Google's drone delivery service has been given the green light to operate in Canberra. Wing has promised, though, that it will be using quieter models for the larger rollout. Read More »

Uber's IPO Registration Is Finally Happening--With an Expected $100 Billion Valuation

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Uber has 91 million monthly active users compared to Lyft's 18.6 million. That's nearly as much as the $78.2 billion drivers have earned since 2015 driving for Uber . The setbacks have included rampant internal sexual harassment and allegations it stole self-driving vehicle technology. Uber's filing follows rival Lyft Inc .'s US$2.34 billion IPO in March, which is the biggest U.S. Read More »

China plans to ban Bitcoin mining, report claims

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The list outlines activities the NDRC believes should be phased out as they lead to legal complications, pose safety risks, or wastefully pollute the environment. China had for always been known as a haven for crypto miners and giant set-ups, not until it prohibited initial coin offerings (ICOs). China is the major country where the maximum amount of crypto mining activities take place and are located itis because of reasonable electricity in the nations coal-rich Inner Mongolia and ... Read More »

Trump wants Fed to keep interest rate low

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Cain ran for president in 2012, but his candidacy ended after sexual harassment allegations emerged. Trump on Friday called on the Fed to cut rates, saying that would turn the USA economy into a "rocket ship" - a rate of growth characterized Sunday by Kudlow as 4 percent to 4.5 percent. Read More »

Burger King slammed for 'racist' Vietnamese chopsticks ad

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Of any kind. wrote Maria. The advert for a new Vietnamese burger in New Zealand has sparked a debate over whether the advert is harmless fun or culturally insensitive and racist. The ad promoting the brand's new "Tastes of the World" burger range also featured a customer eating an American-themed burger with Rocky-style stars and stripes boxing gloves, and another eating the Japanese "tonkatsu" burger with robotic hands. Read More »

Oil steady amid tightening supply, but capped by economic slowdown

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As a result, Brent and WTI crude oil futures have risen by around 30 percent and 40 percent respectively since the start of the year. But then the USA granted waivers to Iran's biggest oil customers, including China and India, and OPEC and its Russia-led allies forged in December a new production cut deal aimed at reversing the new glut that had started to build in Q4 2018 after OPEC anticipated incorrectly. Read More »

James Packer's $10b casino deal with Las Vegas gambling giant falls through

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Wynn's backtracking illustrates how media leaks of deal talks can test the resolve of potential acquirers. Crown shares jumped 21 percent to A$14.19, their biggest intraday gain since the company re-listed with its current name. Wynn is best associated with its founder, United States billionaire Steve Wynn, who stepped down from his positions at the company past year and quit his shareholding after allegations of sexual misconduct. Read More »

Southwest extends Boeing 737 MAX pull out by a week

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Investors in Boeing - and its suppliers - should start getting used to the idea of a long delay before the Max returns to the skies. A fix for a flight-control system that's believed to have been a factor in both accidents is taking longer than expected amid the scrutiny, and Boeing can't deliver the planes without it. Read More »

International Monetary Fund cuts India’s growth forecast for 3 years

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It blamed the slowdown on the trade spat and tariff hikes between the U.S. and China, besides "a decline in business confidence, a tightening of financial conditions, and higher policy uncertainty across many economies". For the rest of the world, the International Monetary Fund is seeing a rebound in market sentiment following some easing in the "tight" financial conditions experienced late 2018, as many central banks raised interest rates then. Read More »