Finance

British Lawmakers Reject No-deal Brexit in Any Circumstance

British Lawmakers Reject No-deal Brexit in Any Circumstance

Britain would quit the EU's 500 million-strong single market and customs union and fall back on World Trade Organisation rules, which could mean tariffs on many imports and exports. To secure an extension to Article 50 , Mrs May would need the support of the 27 other European Union states. This amendment requires the Government to stop Brexit completely, by revoking Article 50, the UK's notice of intention to leave. Read More

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Nvidia outbids Intel to buy Israel's Mellanox in data centre push

Nvidia outbids Intel to buy Israel's Mellanox in data centre push

Nvidia's strategic acquisition of Mellanox Technologies will help the chipmaker grab an even bigger piece of the growing data-center market, a chip expert says. Department of Energy and between them power over 250 of the world's 500 most powerful supercomputers. 'Addressing this demand will require holistic architectures that connect vast numbers of fast computing nodes over intelligent networking fabrics to form a giant data centre-scale compute engine. Read More

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£1.6bn fund launched by government

£1.6bn fund launched by government

Mrs May's efforts to make the deal more palatable to hardline Brexiteers have hit a setback, according to a report in the Daily Telegraph . It can't be a reinterpretation of the withdrawal agreement or a re-emphasis; it's got to be really clear language as to where we are going ... Read More

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Gap prepares to close 230 stores

Gap prepares to close 230 stores

Gap Inc . will separate Old Navy into its own publicly-traded company and create a new, now unnamed firm to house the remaining brands in its portfolio, including Gap and Banana Republic . Old Navy has been the strongest brand under Gap's vast umbrella. It will be core of a yet-to-be-named $9B company with sister brands Banana Republic , Athletica, Intermix and Hill City . Read More

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Tesla cuts price of Model 3 to $35,000 and moves sales online

Tesla cuts price of Model 3 to $35,000 and moves sales online

It's not clear yet how Tesla will navigate the laws in these states moving forward even with the online-only plan. The news comes three days after renewed tensions between Musk and US Securities and Exchange Commission . Ultimately, we think this announcement may have been anticlimactic for investors, with the timeline for the launch only accelerated a couple months and as we believe investors were looking for details on new products (Model Y or Pickup truck) and a potential update on ... Read More

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Trump Delays China Tariffs; Currencies Gain Ground

Trump Delays China Tariffs; Currencies Gain Ground

Washington is demanding an end to the theft of trade secrets and practices that forced US companies to turn over technology to Chinese firms. "I believe we'll all be celebrating very soon in the United States and in China", said Selig. One source of pollution by China comes from its shipping, which utilizes heavy bunker oil to send goods to the U.S. While International Maritime Organization regulations now under consideration would address sulfur content in that fuel, the fact remains that ... Read More

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Honda closing Swindon, UK, plant by 2021

Honda closing Swindon, UK, plant by 2021

Earlier this month, Nissan axed production of the X-Trail SUV in the Brexit-backing northeast city of Sunderland, despite government assurances over the consequences from the European Union exit. Senior vice-president of Honda Europe Ian Howells said previous year that Britain leaving the European Union without a deal would cost the company tens of millions of pounds, but that they were preparing for such an outcome. Read More

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Amazon Cancels New York Headquarters Plans

Amazon Cancels New York Headquarters Plans

It said Thursday it was planning to move ahead with the Virginia location and would continue expanding existing teams of employees in NY. Amazon announced Thursday it will pull out of the deal because of of pushback. New York's leaders also agreed to redo renovation plans for the Queens waterfront and move a school lunch distribution center to fit in with Amazon's plan. Read More

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Amazon reconsidering move to NY

Amazon reconsidering move to NY

While all of that is happening, Amazon floated this pullback from NY, citing how "welcoming" politicians in Virginia and Nashville, Tennessee have been in handing over public money for its site locations. No one city will be home to Amazon's second North American headquarters. Announced in November , the HQ2 locations in LIC and Crystal City, Virginia, marked the culmination of a nationwide pageant where cities across the country vied for Amazon's favor. Read More

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National Enquirer so far silent on Bezos extortion claims

National Enquirer so far silent on Bezos extortion claims

That same day, the National Enquirer touted it was publishing alleged intimate text messages between Mr Bezos and Lauren Sanchez , a former television anchor whom he was said to be dating. AMI's agreement to co-operate with federal authorities means it will not face criminal charges over the payments, Manhattan prosecutors announced in December. Read More

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Monetary Policy: RBI cuts key policy rate to 6.25%

Monetary Policy: RBI cuts key policy rate to 6.25%

RBI forecasts GDP growth for FY20 at 7.4 %, cuts repo rates by 25 basis points from 6.5% to 6.25%: The Reserve Bank of India (RBI) on Thursday cut repo rate by 25 basis points from 6.5 per cent to 6.25 per cent. The global investment bank expects H1FY20 inflation at 3.8 percent compared to RBI's forecast of 3.3 percent. Inflation slowed to an 18-month low of 2.2 percent in December, remaining well below the Reserve Bank of India's medium-term target of 4 per cent. Read More

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Google's stock drops despite earnings beat

Google's stock drops despite earnings beat

While operating income was up from $7.664 billion to $8.203 billion year-over-year for the three months ending December 31, 2018, the operating margin also fell three-percent to 21-percent. Google's main source of competition is not Facebook but Amazon . On its earnings call, Google CEO Sundar Pichai said its cloud business was "one of the fastest growing businesses across Alphabet", but that's likely a function of how small it is - if I'm earning a dollar a day and then I start ... Read More

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Trump Sends Out Another Tweet on Border Wall

Trump Sends Out Another Tweet on Border Wall

In a stadium parking lot in Jacksonville, Florida, after a high school football game, white students chanted at black students from the opposing school: " Donald Trump! ". Sen. Elizabeth Warren of MA, who formally declares her candidacy on Saturday, invited Sajid Shahriar, a labor leader and Department Housing and Urban Development staffer who was recently furloughed from his job during the 35-day partial shutdown of the federal government. Read More

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Here’s What Modi Govt Said on Unemployment Data Row

Here’s What Modi Govt Said on Unemployment Data Row

He rejected the findings of the NSSO report citing that India has witnessed an 11-12 percent nominal economic growth, which could not have been possible without employment being generated. Rahul Gandhi, the leader of the main opposition Congress party who the polls show is closing in on Modi's lead in the May election, said the job report showed "a national disaster". Read More

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China Trade Talks Kick-Off

China Trade Talks Kick-Off

The talks proceeded to a second day despite an unexpected event Wednesday. As part of the deal, Trump agreed to postpone the planned increase in tariffs on $200 billion worth of Chinese goods. Mr Trump has long blamed China's rise as an exporter for a loss of manufacturing and other jobs in the US. "The Chinese will keep talking", David Dollar, a senior fellow at the Brookings Institution and a former U.S. Read More

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Kremlin slams United States sanctions against PDVSA as meddling in Venezuela's affairs

Kremlin slams United States sanctions against PDVSA as meddling in Venezuela's affairs

Be on alert, Venezuela!" Washington has recognised Guaido as the South American country's acting president and says that strongman President Nicolas Maduro should leave power. International Brent crude oil futures rose over 2 percent on Tuesday in reaction. Oil constitutes close to 90 per cent of Venezuelan exports. Kremlin spokesman Dmitry Peskov said the Kremlin shares the view of the Venezuelan government that the sanctions are "illegal" and sees them as a tool of unfair competition ... Read More

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Don't Run Against Trump, Howard — Michael Bloomberg Panics

Don't Run Against Trump, Howard — Michael Bloomberg Panics

The event, during which Schultz will take part in a conversation with ASU President Michael M. Crow, is scheduled for 4-6 p.m. Wednesday at the Student Pavilion across from the Memorial Union on the Tempe campus. Shultz rose to fame after transforming Starbucks from a seven-store coffee chain in Seattle in the 1980s into a world-renowned coffee empire. He's waded into contentious social issues. Read More

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U.S. charges Chinese tech giant Huawei, top executive and two subsidiaries

U.S. charges Chinese tech giant Huawei, top executive and two subsidiaries

Huawei did not respond to requests for comments on the charges. The reason for Huawei's deception, Whitaker said, was to hide the fact that the company was not in compliance with American sanctions. The Wall Street Journal reported last week that Huawei was under federal investigation and might soon have charges filed against it. Washington has said it wants to try Meng on the allegations because, in her position as chief financial officer, she spoke directly to US banks that ... Read More

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Oil Pushes Higher as Venezuelan Crisis Threatens Crude Flows

Oil Pushes Higher as Venezuelan Crisis Threatens Crude Flows

Worldwide benchmark Brent crude , which is less affected by Venezuela than the USA grade, slipped 5 cents to $61.09 on the London-based ICE Futures Europe exchange and commanded a $7.96 premium to WTI . To churn out gasoline , jet fuel and other products, refineries require a healthy dose of heavy crude. Prices had been pressured to start the week after a warning for 2019 global growth from the International Monetary Fund and weak economic data out of China , which underlined ... Read More

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Venezuela leader parades with military

Venezuela leader parades with military

The diplomatic friction and defection was triggered by US recognition of opposition leader Juan Guaido as Venezuela's interim president. Spain had wanted the European Union to take a tough line on Maduro by calling for immediate elections , failing which it wanted the bloc as a whole to recognise Guaido , the 35-year-old head of Venezuela's National Assembly. Read More

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Microsoft's Bing accessible in China after hours of outages

Microsoft's Bing accessible in China after hours of outages

Though Bing may be the world's most mocked search engine , it is one of the very few foreign alternatives to Baidu still available to Chinese net users. Microsoft Corp's Bing search engine is seen on a computer in this illustration picture taken January 24, 2019. In order to appease the Chinese government Microsoft also allowed real-time interception of Skype messages within the country. Read More

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Private military contractors from Russian Federation reportedly in Venezuela to protect Maduro

Private military contractors from Russian Federation reportedly in Venezuela to protect Maduro

U.S. President Donald Trump said Wednesday that Washington had recognized opposition leader Juan Guaido as Venezuela's "interim president", after Maduro was inaugurated as president of the Latin American country earlier this month. Latin America expert Prof. The Pentagon's negligible role in Venezuela contrasts sharply with the situation in the 1960s and '70s, when the oil-rich nation was a major US military partner and an important customer for sophisticated USA weaponry including F-16 ... Read More

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Cadillac shows off its nameless-for-now first full electric

Cadillac shows off its nameless-for-now first full electric

Though nothing else is yet revealed, it can be safe to assume that it will follow the Cadillac legacy and will be an SUV, or a crossover, albeit with a completely electric powertrain. The company said that details for the EV will be revealed "closer to launch". A company press release said the new automobile reflects GM's move toward all-electric vehicles in the future. Read More

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Pound steady as Tories face no-confidence vote

Pound steady as Tories face no-confidence vote

France has put in motion a contingency plan to deal with an eventual "hard Brexit ", Prime Minister Edouard Philippe said on January 17, including 50 million euros ($57 million) of investments to help ports and airports cope . However, the Labour leader stressed the party would still prioritise trying to secure a general election or achieve a Brexit deal on the terms they have demanded. Read More

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Rapper Quavo invites Clemson Tigers to celebrate CFP title

Rapper Quavo invites Clemson Tigers to celebrate CFP title

He later said that besides eating a lot at the White House, he had grabbed two chicken wraps and a quarter-pounder on the way out. "And I think we're going to serve McDonald's , Wendy's and Burger King with some pizza". The White House had also invited rank-and-file House Democrats to the luncheon, bypassing Speaker Nancy Pelosi and other party leaders, but they declined to attend. Read More

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