Business

Farewell, John Bogle: A Tribute to the Father of Indexing

Farewell, John Bogle: A Tribute to the Father of Indexing Wiener, the editor of the Independent Adviser for Vanguard Investors, a newsletter and website that for decades has tracked the company. When he lost his job running a mutual fund company after stocks tanked in the early 70's, John C. He chose the name in honor of the HMS Vanguard, Lord Nelson's ship in the British victory over the French in 1798. He created Vanguard in 1974 after a dispute wi... [Full Article...]

Twenty die as Mexico oil pipeline explodes

Twenty die as Mexico oil pipeline explodes Pemex Chief Executive Octavio Romero said an estimated 10,000 barrels of premium gasoline were rushing through the pipeline with 20 kilograms of pressure when it was ruptured. The fire had been brought under control by around midnight Friday, the security ministry said. Residents who live in the immediate vicinity of the pipeline, which runs from the cities of Tuxpan to Tula in the state of Ve... [Full Article...]

Tesla cuts thousands of jobs to face 'very difficult' road ahead

Tesla cuts thousands of jobs to face 'very difficult' road ahead Musk also indicated the number of employees that Tesla hired - either as temporary workers or full-time workers to boost Model 3 production - was unsustainable for the company. Musk said that the cuts are necessary to help Tesla cope with what Musk described as an "extremely hard challenge: making our cars, batteries and solar products cost-competitive with fossil fuels". [Full Article...]

Govt eases tax exemption process for start-ups on angel investments

Govt eases tax exemption process for start-ups on angel investments Section 56 (2) (viib) of the Income Tax Act provides that the amount raised in excess of a startup's fair market value is taxed at 30 per cent as income of the firm from other sources . Further, the investor should have returned income above Rs 50 lakh or net worth above Rs 2 crore for the financial year preceding the investment. "It has simplified the earlier process of IMB (inter-ministerial bo... [Full Article...]

Local Shopko Hometown stores will stay open

Local Shopko Hometown stores will stay open McKesson has asked a Brown County judge to enter a judgment against Shopko for the $67 million and other fees and costs. While Hanson confirmed that the Pipestone Shopko Hometown was not targeted for closure, she did not comment on the validity of the bankruptcy reports. [Full Article...]

Goldman Sachs CEO apologizes for ex-banker's role in 1MDB scandal

Goldman Sachs CEO apologizes for ex-banker's role in 1MDB scandal JPMorgan Chase & Co. restated a "buy" rating and set a $285.00 price target on shares of Goldman Sachs Group in a research report on Monday, September 10th. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link . Several large investors have recently modified their holdings of GS. [Full Article...]

GM luxury brand Cadillac covers new ground with first fully electric vehicle

GM luxury brand Cadillac covers new ground with first fully electric vehicle The American auto giant will launch and expand electrified technologies across the lineup of this old luxury brand. GM President Mark Reuss has previously said that a range of 300 miles is the sweet spot for electric cars , and that the platform uses a modular battery pack to accommodate a variety of vehicle types. [Full Article...]

Germany considering ways to exclude Huawei from 5G auction

Germany considering ways to exclude Huawei from 5G auction The US government, citing security concerns over links between Huawei and the Chinese government, has banned employees, contractors and agencies from using Huawei devices, prohibited them in military base retailers and warned US residents and other countries against using the company's technology. [Full Article...]

Trump signs bill to compensate gov’t workers for wages lost during shutdown

Trump signs bill to compensate gov’t workers for wages lost during shutdown It sounds like one of those perplexing snits that frustrates Americans and prompts them to blame both parties for Washington's dysfunction. Kevin Hassett, who heads the Council of Economic Advisers, told CNN Wednesday that the new estimate was just "a little bit lower" and the "damage is a little bit worse" than their original estimates, noting that the council did not previously take into a... [Full Article...]

Burger King trolls Trump on Twitter

Burger King trolls Trump on Twitter Trump said he paid for more than 1,000 "hamberders", and within one hour, they were all gone. The fresh tweet reads, "Great being with the National Champion Clemson Tigers last night at the White House". This isn't this first time Burger King has responded to a public figure in a cheeky tweet. And I said, you guys aren't into salads'. Trump , appearing alongside the McDonaldland character ... [Full Article...]

Theresa May narrowly survives no-confidence vote after crushing Brexit defeat

Theresa May narrowly survives no-confidence vote after crushing Brexit defeat Legislators ripped up May's Brexit blueprint Tuesday by rejecting the divorce agreement she has negotiated with the European Union over the last two years. If she does not resign, she is simply holding the door open for Jeremy Corbyn . Mr Blair, who said he believed an extension the Article 50 withdrawal process was now nearly "inevitable", also criticised Mrs May's consultation. [Full Article...]

USA eyes Taiwan risk as China’s military capabilities grow

USA eyes Taiwan risk as China’s military capabilities grow China has rapidly modernized its military and increased defense spending over the past two decades, posing a security threat to Asia, and Taiwan in particular, a USA military intelligence report said. Trade Representative Robert Lighthizer, remain unconvinced and worry that rolling back tariffs could be a sign of weakness, according to the Journal . [Full Article...]

USA government pursues criminal charges against Huawei

USA government pursues criminal charges against Huawei Ministry spokeswoman Hua Chunying made the comments at a regular news briefing in Beijing. According to T-Mobile's original filing in the suit, " Huawei initially tried to cover up its actions but ultimately admitted that its employees misappropriated parts and information about T-Mobile's robot in coordination with Huawei R&D so that Huawei could build and improve its own testing robot". [Full Article...]

Theresa May’s Brexit plans go down to historic defeat in Commons

Theresa May’s Brexit plans go down to historic defeat in Commons The vote is the climax of over two years of intense national debate after the shock Brexit referendum of 2016 - a result that mostly pro-Remain MPs have struggled with. She promised to hold discussions with MPs from across parliament to identify ideas "that are genuinely negotiable and have sufficient support in this House". [Full Article...]

Theresa May's government survives vote of no confidence amid Brexit crisis

Theresa May's government survives vote of no confidence amid Brexit crisis The House of Commons' 432-202 vote against May's plan was widely expected, but it was still devastating for her fragile leadership. After the biggest defeat for any British government in well over a century, May promised to consult with senior lawmakers on future moves, but gave little indication of what she plans to do next. [Full Article...]

Alexandria Ocasio-Cortez joins House Financial Services Committee

Alexandria Ocasio-Cortez joins House Financial Services Committee See Ocasio-Cortez's full response below. She has vowed to dig into such ssues as student loans and for-profit prisons. Under her plan, the majority of Americans, who don't earn that much, would pay a much lower share of their income , and the average tax rate for working Americans could go down. [Full Article...]

McDonald's Loses 'Big Mac' Trademark Case to Irish Chain

McDonald's Loses 'Big Mac' Trademark Case to Irish Chain The US-based worldwide chain has the right to appeal against the decision. McDonagh says the move will now let his chain push ahead with its planned expansion and called it "the end of McBully". The ruling also implies that Supermac's would be able to use the Big Mac trademark as a name for its product or restaurant in Europe. 'The original objective of our application to cancel was to shine... [Full Article...]

Canada asks China for clemency for convicted drug trafficker

Canada asks China for clemency for convicted drug trafficker The countries have been at odds since early December, when Canadian police arrested Huawei chief financial officer Meng Wanzhou in Vancouver on a United States extradition request as part of an investigation into suspected violations of USA trade sanctions. [Full Article...]

Huawei founder says firm does not spy for China

Huawei founder says firm does not spy for China Ren said he became a Communist Party member in the early 1980s after the state press published reports about his development of a measuring tool for an engineering project. Huawei is facing heightened scrutiny as phone carriers prepare to roll out fifth-generation technology in which Huawei is a leading competitor. Ren said Huawei has no research co-operation with China's People's Liberation A... [Full Article...]

President Trump says solution to shutdown impasse ‘so simple’

President Trump says solution to shutdown impasse ‘so simple’ Financial companies have put in place programs to help those workers deal with a sudden loss in income, while a number of restaurants are giving away meals to federal workers. Trump has rejected a short-term legislative fix and dug in for more combat, declaring he would "never ever back down". He shot down the veto override suggestion on Tuesday, telling reporters at a weekly press conference that... [Full Article...]


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