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Raytheon United Technologies: Merger will create defense giant

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We don't have to go to China. A United Technologies-Raytheon merger has always been speculated on by analysts and investors as the two companies operate mainly in different segments, meaning a deal is likely to attract less scrutiny from regulators than other mergers between big defense players. Read More »

G-20 finance officials pledge to protect global growth

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Finance leaders from the Group of 20 ( G20 ) are in agreement that global trade and geopolitical tensions are getting worse, insiders told news agencies on Sunday. But those talks hit an impasse last month, prompting higher tariffs on both Chinese and United States goods as the conflict nears the end of its first year. Read More »

Uber chief tightens grip with top execs' departures

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Dara Khosrowshahi decided that the heads of Uber's core business should report to him directly as he wanted to be more directly involved in Uber's day-to-day operations. Barney Harford, Chief Operating Officer (COO) of Uber listens to a question during a news conference in New Delhi, India, April 18, 2018. An investigation was launched by Uber last summer. Read More »

Trump is confident Mexico will enforce new immigration deal

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The Times , however, said that sources noted this pledge was made in March during talks between then-Department of Homeland Security Secretary Kirstjen Nielsen and Mexican Secretary of the Interior Olga Sanchez. According to Sen. Roy Blunt, POTUS Donald Trump's use of tariffs as a driving force in his negotiations with Mexico is also meant to be a message for China, as the two top world economies are in the midst of a long-standing trade war. Read More »

Beyond Meat sees sales doubling in 2019, shares rise 16%

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Net loss was $6.6 million in the first quarter versus a net loss of $5.7 million in the prior-year period. It reported a loss of 14 cents per share for Q1 on a pro forma basis to adjust for the conversion of stock warrants. He also stressed that they don't contain genetically modified ingredients - a jab at Impossible Foods, which has genetically engineered yeast in its ingredient list. Read More »

US Payrolls, Wages Cool as Trade War Weighs on Economy

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The unemployment rate remained at a almost 50-year low of 3.6% in May. The economy expanded at a healthy 3.1% annual rate in the January-March quarter, but the Federal Reserve Bank of Atlanta estimates that annual growth will slump to just 1.5% in the April-June quarter. Read More »

City watchdog bans high overdraft fees to fix 'dysfunctional' market

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First flagged last December, the clampdown is to resolve what the regulator says is a dysfunctional market. A radical shake-up of overdraft charging has been confirmed by the Financial Conduct Authority . In 2017 alone, United Kingdom banks and building societies made more than £2.4 billion in overdraft charges and fees, with around a third of this coming directly from unarranged overdraft charges and this is something that the FCA (as well as many consumers) see as unfair and immoral. Read More »

After scUber, Uber Air is taking NY skies

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Customers can book a flight on Uber Copter instantly on the main app, or reserve a spot up to five days in advance. Trips will run during the weekday afternoon rush hour from Lower Manhattan to John F. Helicopters have been whisking travelers from Manhattan to nearby airports for decades. The eight-minute ride will cost more than $200, but the company said it hopes to expand to other cities. Read More »

Kroger recalls more meat sold for possible E. coli

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The potentially contaminated items hail from Kroger's Private Selection brand, which is sold at both traditional Kroger stores and other retail locations within the company's umbrella. Fred Meyer recalled its frozen blackberries and a berry juice in an announcement Friday due to a possible hepatitis A contamination. However, it can take up to 50 days after exposure for symptoms of hepatitis A to develop. Read More »

Facebook confirms new details about "Globalcoin" - will be tied to multiple currencies

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There are also whispers that Libra will be tied to physical devices so it can be used at ATMs, meaning regular fiat currencies can be exchanged for it. With Facebook's plan to launch the network with 100 nodes, the social media giant is expected to pocket $1 billion. What seems like the most interesting bit of information in CNBC's report is the fact that Facebook will reach out to third-party organizations for them to act as validator nodes. Read More »

President Trump suspends plan to impose tariff on Mexican products

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US House Speaker Nancy Pelosi slammed Saturday the US-Mexico migration deal announced earlier by US President Donald Trump , saying that the agreement was based on a reckless threat to our "close friend and neighbour to the south". "There is dialogue and an agreement can be reached", Lopez Obrador said. "Thanks to the support of all Mexicans, we were able to avoid tariffs on Mexican products exported to the USA", tweeted Lopez Obrador, who since his election a year ago has tried ... Read More »

Maduro opens border with Colombia, shut down over opposition’s aid-smuggling attempt

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Maduro denied that a humanitarian crisis exists in Venezuela and suggested that aid efforts are part of a United States plot to orchestrate a coup. Guaidó, who heads the opposition-controlled congress, revived a flagging movement in January by declaring himself interim president, quickly drawing recognition as Venezuela's rightful leader from the US and more than 50 nations. Read More »

Elliott Management in talks to buy Barnes & Noble

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Barnes & Noble, like its... The uphill battle with Amazon has forced Barnes and Noble to go private. The purchase by the hedge fund comes after Barnes & Noble in October said that it might put itself up for sale after it was approached by a number of potential buyers. Read More »

Euro rallies on less-dovish-than-expected European Central Bank meeting

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Interestingly it appears that investors took the ECB's message that rates would "remain at their present levels at least through the first half of 2020" as delaying any cuts until that point in time. US markets rallied earlier this week after Fed Chief Jerome Powell said current economic developments were being closely watched, with plans to "act as appropriate to sustain the expansion". Read More »

London will soon be home to the world’s most frightening hotel pool

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This material, the company claims, has a refractive index similar to water, so the pool would look like a solid block of water. You'll get a good view whether you're a front crawl fan or back stroke buff: if you're not gazing at unnervingly-close helicopters in the sky, the pool's floor will be transparent, allowing you to see straight down into the core of the building - and the people down there to gaze up at you in action. Read More »

Single ticket wins $530 million Mega Millions jackpot

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The victor of Saturday's $344.6 million Powerball jackpot was Charles W. Jackson Jr., of Cumberland County. It is the largest jackpot drawing since last October, when the jackpot was a staggering $1.5billion. The winning ticket sold in SC and was the world's largest lottery prize ever won on a single ticket. Winners must match all five numbers plus the Mega Ball to take home the big prize. Read More »

Global oil prices to swing amid trade tensions, changing US, OPEC supplies

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WTI was last trading up $1.50, or 2.9%, at $53.18/Bbl after the settlement. Oil prices bounced back on Tuesday, as investors digested the latest speech by U.S. Weekly data the US Energy Information Administration released Wednesday was another factor that weighed on energy markets. The tight supply from OPEC production from the start of the year has helped to keep prices under control. Read More »

US Commerce Department offers solution for obtaining minerals critical to the military

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Rare earth producer Lynas ( ASX:LYC ) have released their presentation to the Argus US Specialty Metals conference today showing they will benefit from their US plant regardless of the trade war with China . Apart from finding new deposits, the report calls for specific measures to encourage R&D, new supply chains, additional and publicly available exploration data, land access and permitting, a workforce with appropriate skills and expertise, as well as worldwide trade and co-operation. Read More »

Uber Copter Begins $200 Helicopter Shuttles in NYC, Other Cities to Follow

Rides can be booked using the Uber app, but as this is a helicopter and not a vehicle, customers will have to settle for a predetermined route: an eight-minute journey between Lower Manhattan and Kennedy International Airport. Uber Copter will go head-to-head against Blade Urban Air Mobility, which launched a Manhattan-to-JFK service in March for $195. The news of the Uber Air debut was first reported by the New York Times , and confirmed by Uber chief executive Dara Khosrowshahi, ... Read More »

FedEx to end air shipping contract with Amazon

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It's "a strategic decision" that will let FedEx focus on thousands of other retailers including Target, Walgreens and Walmart, company spokeswoman Katie Wassmer. Forte also said that FedEx and UPS operate a duopoly in shipping and Amazon is trying to break that by trying to be more self sufficient to lower shipping costs. Read More »

Reserve Bank looks to jolt alleged "strong economy" with rate cut

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Despite the likelihood Australians can expect their lowest rate in history to tumble further, Dr Lowe says it isn't in reaction to a "deterioration in our economic outlook". Mr Chalmers echoed Mr Frydenberg's comments in reminding customers they can express their distaste by shifting their mortgages to a rival lender. "They know this is a government that generally goes pretty soft on the banks", he said. Read More »

Oil prices steady, concerns grow about demand

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WTI settled down $1.80, or 3.4%, at $51.68 per barrel. Amid surging output, USA commercial crude inventories surged by 6.8 million in week to May 31, to 483.26 million barrels, their highest levels since July 2017. In particular, WTI plunged over 20 percent from its April peak to hit the lowest level since January, thus sliding into bear-market territory. Signals of slowing global economic activity have increased in recent months, fueled by trade tensions between the United States and ... Read More »

China grants 5G licences to its carriers, Huawei in line to benefit

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Full deployment of 5G networks in a country with nearly 1.6 billion wireless phone subscriptions is expected to boost local companies designing gear for applications in autonomous driving, robotics, remote surveillance and virtual reality. The move has led to an escalation in the US-China trade war, with Beijing preparing its own blacklist of "unreliable" foreign companies. Several firms have already distanced themselves from Huawei, including Google, whose Android system equips the vast ... Read More »

Toyota, Subaru to jointly develop all-electric crossover

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Subaru will remain independent and produce their own unique electrified all-wheel-drive vehicles, but they will need Toyota to get there. Toyota Motor Corp and Subaru Corp on Thursday said they plan to jointly develop a battery-electric sport-utility vehicle (SUV) on a platform produced together as they seek to split the cost of producing the lower-emissions auto. Read More »

Michelin Helps Move an Airless OE Car Tire Closer to Reality - Suppliers

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Without these common issues, tyres will be scrapped before the end of their life cycles far less frequently. According to GM, the new kind of tire is also better for the environment, since it uses fewer raw materials. The main downside to airless tyres has traditionally been that they are more expensive to produce, although this would change as production is ramped up for mainstream applications. Read More »

It's National Donut Day, And Here Are The Best Deals

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Unlike other food holidays, National Doughnut Day has a history. Donuts are seen during Spectrum Originals and Sony Pictures Television Premiere Party for "L.A.'s Finest" at Sunset Tower on May 10, 2019 in Los Angeles, California. Funfetti brioche doughnut with rainbow glaze at OAK Bar + Kitchen. This week, the Goldsboro City Council approved a proclamation declaring this Friday, June 7, as National Doughnut Day in the City of Goldsboro. Read More »

Vladimir Putin threatens to drop New START nuclear treaty

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President Donald Trump earlier this week that said Moscow had informed Washington it had pulled out its personnel from Venezuela. "We do not have to extend it". Moscow has denied it had any involvement in the poisoning, which led to a series of sanctions against Russian Federation by the West and tit-for-tat diplomatic actions. Read More »

Google to buy cloud company Looker for $2.6 billion

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So far, the company has struggled to compete with larger rivals Amazon.com Inc. The acquisition announced Thursday gives Google a new tool in its campaign to sell more cloud storage and software. "We've had great synergy with Google Cloud from the beginning", Bien said. It also has products that help companies build data-analysis and analytical tools into their own applications. Read More »

Ford set to announce closure of Welsh engine factory

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In a statement , Ford blamed the ending of a contract with Jaguar Land Rover and a fall in sales of petrol engines. Britain's once thriving vehicle sector, rebuilt since the 1980s mainly by foreign carmakers, has suffered slumps in sales, output and investment over the past two years. Read More »

Fiat Chrysler withdraws 50/50 merger proposal with Renault

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Fiat Chrysler ( FCA ) "remains firmly convinced" of the interest of its offer but "political conditions do not now exist in France to carry out such an arrangement", it said in a statement. The company didn't explain why, but a French government official said board members don't want to rush into a deal and are seeking agreement on all parts of the potential merger. Read More »