Business

Please OPEC Please! The Energy Report 06/05/18

Please OPEC Please! The Energy Report 06/05/18 More generally, Brent has been pushed up by the voluntary production cuts put in place a year ago, led by the Organization of the Petroleum Exporting Countries (OPEC) and Russian Federation. The source said that after receiving Kazempour's request, the UAE's OPEC governor Ahmed al-Kaabi sought the advice of legal counsel. USA oil production is up 1.5 million bpd from a year earlier. [Full Article...]

ZTE to pay $1B penalty in deal with US Commerce Department

ZTE to pay $1B penalty in deal with US Commerce Department The deal which ZTE has agreed to would see the company pay a $1 billion fine, with $400 million in escrow should the company break the terms of agreement again. Ross added that if the company violates the new agreement, it could also be put under denial of export privileges again, too. ZTE has pledged to fire four senior employees and discipline 35 others as a result of the guilty verdict it r... [Full Article...]

Reserve Bank of India hikes key interest rate to 6.25%

Reserve Bank of India hikes key interest rate to 6.25% However, rather than wait for the threat of inflation to become clear, the panel advanced its action to proactively tame inflation. From the reply given by the Governor in the media interaction, it can be deduced that the RBI has no exchange rate objective, nor does it use the exchange rate as an instrument for managing inflation. [Full Article...]

Google pledges not to develop AI weapons

Google pledges not to develop AI weapons Google CEO Sundar Pichai announced the change in a set of AI principles released today. About 4,000 Google employees had signed a petition demanding "a clear policy stating that neither Google nor its contractors will ever build warfare technology ". [Full Article...]

Key ‘step forward’ in cutting cost of removing CO2 from air

Key ‘step forward’ in cutting cost of removing CO2 from air The research was released this week, showing that the process costs less than USD$ 600 per ton (as it was previously mentioned). Keith is also a founder and executive chairman of Carbon Engineering, a Bill Gates-funded company that has studied how to directly remove carbon dioxide from the atmosphere . [Full Article...]

Goodbye Mission E, Hello Porsche Taycan

Goodbye Mission E, Hello Porsche Taycan The company also marked the occasion by revealing a 911 Speedster Concept, an open-top version of its iconic sports auto. Ever since unveiling the concept, Porsche has been saying that the production version, which is expected to launch in 2019, will remain fairly similar. [Full Article...]

Jamie Dimon, Warren Buffett urge CEOs to end quarterly earnings forecasts

Jamie Dimon, Warren Buffett urge CEOs to end quarterly earnings forecasts Around that time, big companies like Coca Cola, UPS and AT&T said they would no longer give quarterly guidance. Dimon , is chairman of the Business Roundtable , an association of almost 200 CEOs that is also backing the push to eliminate so-called short-termism. [Full Article...]

Trump unloads on 'indignant' Trudeau for 'killing' United States agriculture

Trump unloads on 'indignant' Trudeau for 'killing' United States agriculture President that his unacceptable actions are hurting his own citizens". Other G-7 leaders, including British Prime Minister Theresa May and German Chancellor Angela Merkel, have also spoken out against the tariffs . "The G7 is an opportunity for us to get together and have frank, open discussions among nations who have always been allies and friends", Macron told reporters, with Trudeau at his s... [Full Article...]

Trump tariffs: Mexico retaliates against United States products

Trump tariffs: Mexico retaliates against United States products The global trade system "is a mess". "Simply put, Trump no longer sees the necessity of keeping allies happy at the expense of the American people, so he's trying to solve the free-rider problem", Schweller, a political science professor at Ohio State University, said in an email. [Full Article...]

Mexico strikes back at United States with tariffs on pork, steel, whiskey

Mexico strikes back at United States with tariffs on pork, steel, whiskey Mexico imports so much US pork - almost one-third of what's consumed - that the government says it will waive tariffs on up to 350,000 tons of pork imported from other nations to avoid destabilizing the market. Americans for Prosperity president Tim Phillips said the tariffs would "hamstring our full economic potential". "Mexico can adjust the composition of the list of products originating from... [Full Article...]

Qatar Airways CEO Akbar Al Baker's sexist comments don't fly

Qatar Airways CEO Akbar Al Baker's sexist comments don't fly In 2014, Qatar Airways defended policies on pregnancy and marriage for cabin crew after coming under fire over working conditions in the conservative Gulf emirate. Promises by the global airline industry to do more to promote gender equality veered off course when one of its top executives suggested his CEO role was too hard for a woman. [Full Article...]

Tesla shareholders reject bid to strip Musk of chairman role

Tesla shareholders reject bid to strip Musk of chairman role Tesla , which has talked about building a factory in Europe for years, plans to announce a location later this year, Mr. Musk said. The company has already demonstrated the ability to make 500 cars a day, or 3,500 a week, and should able to boost production even further in coming weeks. [Full Article...]

Google scrubs United States military contract following protest by employees

Google scrubs United States military contract following protest by employees According to several internal emails obtained by reporter Kate Conger, Google officials were optimistic that working on Project Maven could open the doors to much more lucrative contracts with the US military and intelligence agencies, including a reputed $10 billion cloud computing contract, which several large tech companies have put in bids for. [Full Article...]

Merkel's plans for the European Union: joint military force, common migrant asylum standards

Merkel's plans for the European Union: joint military force, common migrant asylum standards The League and 5 Star each need to renegotiate treaties on budgets, migration and a variety of different points with the European Union . She said she wanted to work with the new Italian government instead of speculating about its intentions. [Full Article...]

Dog found dead in carrier in cargo facility during Delta trip

Dog found dead in carrier in cargo facility during Delta trip When the dog was checked on again between 8:00 a.m. and 8:30 a.m., Alejandro was dead, according to Dellegrazie's attorney, Evan Oshan. "Delta is conducting a thorough review of the situation and have been working directly with Alejandro's family to support them however we can", the airline said in a statement. [Full Article...]

Vermont will pay you $10K to move there - but there's a catch

Vermont will pay you $10K to move there - but there's a catch Over the past 25 years, the median age nationally has increased by near five years to 37.8, while Vermont's has risen by 10 years to 42.7. Interested? To be eligible, you must be a full-time employee of a company based out-of-state working remotely or from a co-working space. [Full Article...]

U.S. takes another swing at China with investment restrictions

U.S. takes another swing at China with investment restrictions The announcement came just ahead of U.S. Secretary of Commerce Wilbur Ross's visit to China. The White House yesterday announced that it will impose a hefty 25 percent tariff on the $50 billion worth of Chinese goods containing "industrially significant" technology including those related to the "Made in China 2025" program, days after the two sides reached an agreement and vowed not to laun... [Full Article...]

Trump crows as rosy jobs report underscores booming economy

Trump crows as rosy jobs report underscores booming economy President TrumpDonald John TrumpTrump tells Trudeau on NAFTA: US will agree to fair deal or "no deal at all" Dem senator suggests Trump "sending a message to witnesses" with pardons Kim Jong Un hasn't changed his stance on denuclearization: report MORE on Friday touted the monthly federal jobs report roughly an hour before the data was released, appearing to violate a government rule. [Full Article...]

Google reportedly won’t renew controversial drone imaging program

Google Cloud CEO Diane Greene announced the decision regarding what is known as Project Maven at a meeting on Friday, according to Gizmodo , which cited three sources. Apart from a few resignations, about 4,000 of the company's employees signed a petition asking Google to stop getting involved in the "questionable practice of targeted killings". [Full Article...]

Visa card payment disruption across UK and Europe

Image: A KFC in Weston-super-Mare had to post a sign to warn customers that they could only accept cash. Visa says it's aware of the problem and developing a fix, which might be working already. Fellow payment card systems MasterCard and Maestro are not affected. Another said she was in a Lisburn supermarket and her card was rejected. "For that we can only apologise and we are working hard u... [Full Article...]


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