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RBI cuts rates, turns 'accommodative' as economy slows

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A cut in rates was on expected lines. After the cut, the reverse repo rate stands at 5.50 per cent. From December 2018 to February 2019, the Repor Rate was 6.5 percent. State Bank of India chairman Rajnish Kumar said the decision to lower the Basel III leverage ratio would augment the lendable resources of the banks. Read More »

Mexico Immigration Talks Continue as Trump's Tariff Deadline Nears

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Frustrated by the lack of progress on a signature issue from his 2016 presidential election campaign, US President Donald Trump unexpectedly announced last week he would impose 5pc tariffs on all imports from Mexico, rising to as much as 25pc later in the year, unless Mexico took a harder line. Read More »

Wealth manager ends association with Neil Woodford's firm

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Major investors in Neil Woodford's suspended fund were given no prior warning that they would be banned from withdrawing their cash, according to one investor. However, it now manages £3.7bn, according to the financial services and research firm Morningstar . As a result of that increased level of redemptions what we were seeing was the stock market in a way anticipating the fact that we would have to be sellers of stocks to meet those redemptions. Read More »

Renault-Fiat Chrysler merger collapses

Shares for FCA fell 3% in early trading on the Milan Stock Exchange. FCA's Board of Directors made the decision at its meeting Wednesday night. Renault said it had been unable to reach agreement because French government representatives had requested a postponement. Read More »

Ikea to roll out robotic furniture for tight living spaces

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The world's biggest furniture brand unveiled on Tuesday the moving room divider that, depending on needs throughout the day, doubles as bed, walk-in closet or sofa, or frees up a separate work space. Though, considering it's created to be the only piece of furniture you need in your small apartment building, the price-tag may just justify it. The term "robotic furniture" might sound futuristic, but it's basically IKEA furniture on wheels. Read More »

JLR and BMW team up to develop electric cars

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BMW and Jaguar Land Rover (JLR) have announced a collaboration to co-develop electric drive units (EDU). JLR engineering boss Nick Rogers says "the transition to ACES (autonomous, connected, electric, shared cars ) represents the greatest technological shift in the automotive industry in a generation". Read More »

Walmart targets high-schoolers with enhanced educational offerings

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As part of the expansion, Walmart will now offer all of its 1.4 million US associates the opportunity to earn an associate or bachelor's degree in business, IT or STEM from Southern New Hampshire University (SNHU) through the University's partnership with Guild Education, who works with Walmart to administer the program. Read More »

YouTube Not to Shut 'Guidance' Despite Abuse Issues

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Because YouTube can't monitor every user as they livestream, it relies on machine learning technology (think AI) to parse videos and flag content that may be in violation of its policies. In this case, on balance, the company has decided the risk of upsetting content creators by tweaking its systems outweighs the benefit of not aiding pedophiles. Read More »

RBI likely to slash interest rates in third straight cut

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EARLIER @ 2.30PM: The Reserve Bank has cut interest rates for the first time since August 2016 in an effort to reignite the economy. BOQ is only passing 0.15 per cent on to their most popular product, the Clear Path variable rate package, while all other variable rate loans will be cut by the full 0.25 per cent. Read More »

Stocks jump as Fed’s Powell suggests rates could come down

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China "believes that the differences and frictions between the two sides in the economic and trade field will ultimately need to be resolved through dialogue and consultation", a spokesperson from the Ministry of Commerce said. The S&P 500 shed more than 6% in May as investors feared a global growth slowdown while trade tensions ramped up between the United States and China and the United States and Mexico. Read More »

Michelin and GM test airless tires on Chevy Bolt EV

Reduces the use of raw materials, energy for production and emissions linked to the manufacture of spare tires and replacement tires that are no longer required. " UPTIS is an ideal fit for propelling the automotive industry into the future and a great example of how our customers benefit when we collaborate and innovate with our supplier partners ", adds Steve Kiefer, GM's senior vice president, global purchasing and supply chain. Read More »

Renault delays decision on Fiat Chrysler merger

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A CGT statement Tuesday called the merger idea a "gift to the Agnelli family" that is Fiat's leading shareholder, arguing that Renault is the stronger company and that the deal would give away Renault's more advanced electric vehicle technology without gaining anything comparable in exchange. Read More »

Oil bounces off 4-month low, turns positive as stocks rally

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Crude oil price trended lower after the Energy Information Administration reported a weekly build in crude oil inventories, at a sizeable 6.8 million barrels. To prevent oversupply and prop up the market, OPEC, together with allies including Russian Federation, has withheld supply since the start of the year. Read More »

USA tariffs looming, many in Mexico back president's approach

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But Republican senators warned that the White House may not have their backing, with Senate Majority Leader Mitch McConnell saying there was "not much support" among other Republicans for the tariffs. Those fees could also contribute to more expensive barbecues for USA consumers. Unfortunately, they seem to have become the Trump administration's go-to strategy when it doesn't get its way. Read More »

Amazon offers free one-day Prime shipping on 10M items

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Walmart said it plans to grow the assortment of items available for next-day shipping over time. Amazon has confirmed that Prime members can get one-day delivery on more than 10 million products shipped coast to coast. But with Amazon already a leader in shipping, this latest push could strength the company and leave more retailers in the dust, cutting down retail options for shoppers. Read More »

The SEC Is Suing Kik for Its 2017 ICO

In 2017, Kik launched the Kin token around the height of the market excitement taking over at the time. Kik promised to create a Kin transaction service and a reward system for companies that adopt their product as a means of creating demand for the token. Read More »

Ineos to splash £1.6bn on Saudi plants

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Billionaire Jim Ratcliffe's petrochemicals company INEOS said on Monday it would invest $2 billion (£1.6 billion) to build three plants in Saudi Arabia as part of Saudi Aramco and Total's petrochemical complex. Commenting on the investment, Wood Mackenzie chemicals principal analyst Patrick Kirby said the decision by Ineos represented a "geographical diversification" for the company. Read More »

Smartphone Shipment Forecast Lowered To 3% Decline 06/04/2019

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Strategy Analytics also expects Huawei smartphone shipments to shrink by about 24 percent this year and by 23 percent next year. As Huawei's expected slump has become reality, the company's partners such as Foxconn are being hit hard. In a reply, on Friday, a Chinese commerce ministry's spokesperson stated how it was in the process of generating a list of foreign companies, organizations and personal which it thought were untrustworthy. Read More »

Trump Says Britain Will Get ‘Phenomenal’ Post-Brexit Trade Deal

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With the trip already at risk of being overshadowed by Britain's Brexit turmoil, Trump unleashed a Twitter tirade after a newspaper column in which London's mayor said he did not deserve red-carpet treatment and was "one of the most egregious examples of a growing global threat" to liberal democracy from the far right. Read More »

USA statement on China's white paper is calling white black: spokesperson

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On June 2, the Chinese regime released a white paper outlining its position in the trade talks, in which it cited three alleged instances in which the United States backtracked on commitments made during negotiations. First of all, the consultations have suffered severe setbacks because the US government has "backtracked on its commitments" to consultations. Still, the language used in the policy paper is general, potentially providing wiggle room. Read More »

Australia cuts interest rates as economy falters

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The RBA cut the official cash rate to a historic low 1.25% in its June meeting, the first time it's cut the rate in almost three years. Despite Australia's economy already experiencing record-low interest rates since late 2016, inflation remains worryingly low, wages are still sluggish, and consumption growth is anaemic. Read More »

Huawei denies cutting back production amid U.S. crackdown

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Last year, the shipments fell 4.5%. Foxconn is the largest producer not only for Huawei but for Apple. Companies that sell 25 or more percent USA -origin tech would come under the ban . Multiple outlets reported that the company has cut down on smartphone production following Google's Android block. To allow time for software updates in existing Huawei products, the U.S. Read More »

USA tech giants could be subject to antitrust investigation

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Technology firms are facing a backlash over fears they have too much power and are not competing fairly with rivals. U.S. President Donald Trump has called for closer scrutiny of social media companies and Google, accusing them of suppressing conservative voices online, without presenting any evidence. Read More »

Trump, May hail U.S.-British relations amid large-scale protests

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Kahn responded to Trump's tweets on Tuesday morning by telling CNN that the American president was acting like an "11 year-old" but that he didn't feel "it's for me to respond in a like manner". Supporters of U.S. President Donald Trump are seen outside Buckingham Palace during the state visit of U.S. President Donald Trump and First Lady Melania Trump to Britain, in London. Read More »

China Issues Warning Over U.S. Student Visa ‘Risks’

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The statement urged Chinese tourists to "fully assess the risk" and "improve their awareness of safety and security". However, state television cited ministry spokeswoman Xu Mei as saying despite the trade tensions, the "general situation" for Chinese students going to the United States remained stable, and US institutes of higher education welcomed Chinese students and cooperation with China. Read More »

Australia cuts rates to historic low as economy slows

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In a statement, ANZ Group Executive, Australia Retail & Commercial, Mark Hand said: "In making this decision we have weighed up a number of factors, such as business performance, market conditions and the impact on our customers, including our depositors". Read More »

Trump's top economist to leave White House

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The president in the tweet also thanked Hassett "for all he has done" and said he is a "true friend". Hassett has held the top economist position at the White House since September 2017, before which he was an economist with the conservative think tank American Enterprise Institute since 1997. Read More »

Elon Musk reveals Cuphead is coming to Tesla

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Tesla Model 3 , Model S and Model X will all be able to play the game sometime in the future. The Tesla video game library is set to grow at least one more time before the end of 2019, and it's not some dusty, old arcade game this time. Read More »