Business

Rep. Tlaib Says Americans Don't Like Socialism Because they 'Don't Understand It'

Rep. Tlaib Says Americans Don't Like Socialism Because they 'Don't Understand It' He added that in Afghanistan "it is time" to press for peace, and refocus US troops on counterterrorism. He dismissed former Vice President Joe Biden as "dumb", called Sen. That wasn't the only time during his speech that applause was used against him. Don't expect the president to alter his border wall rhetoric for the prime time address. [Full Article...]

Crude Oil Price Lower But Remains Range Bound

Crude Oil Price Lower But Remains Range Bound US crude inventories rose by 2.5 million barrels last week and gasoline stocks also increased, the American Petroleum Institute said . However, Russian oil output in January missed the target for the output cuts, Energy Ministry data showed on Saturday. [Full Article...]

There's A 'Special Place In Hell' For Brexiteers, EU's Donald Tusk Says

There's A 'Special Place In Hell' For Brexiteers, EU's Donald Tusk Says After their statements, Mr Varadkar was heard telling Mr Tusk "they will give you awful trouble in the British press for that" - but the European Council chief just nodded and laughed. Tusk said the Irish border issue and the need to preserve the peace process remained the EU's "top priority". She hopes these changes will help her get it through the UK Parliament. [Full Article...]

Alphabet delivers better-than-expected Q4 revenue

Alphabet delivers better-than-expected Q4 revenue The company said that in the fourth quarter , the number of clicks on advertisements on Google's websites increased 66 percent from a year earlier. Google network revenues - display ad cash from non-Google sites - were $5.6bn were up 12 per cent from $5bn last year's quarter. What do Alphabet's Q4 results mean for their share price? Cloud bets are likely to start paying off in the coming... [Full Article...]

State of the Union Address: Unity or Emergency? - Mish Talk

State of the Union Address: Unity or Emergency? - Mish Talk He didn't rule out the possibility of a new shutdown or the declaration of a national emergency on February 15, 2019. Only 39 percent supported a shutdown for the wall , while 57 percent opposed it. But don't expect that to stop him from doing it anyway. "One thing you will see is that the chamber is full and the president is surrounded by women, by people of colour, by individuals who have... [Full Article...]

GM expected to start laying off about 4000 workers on Monday

GM expected to start laying off about 4000 workers on Monday The approval rating for GM CEO Mary T Barra is at 89%, a solid percentage on its own (Glassdoor CEO average is around 65%), but over time, is her worst in the past 18 months. Canada spokeswoman Jennifer Wright says the salaried employee reductions in Canada have mostly been accomplished already through voluntary incentivized packages. [Full Article...]

SpaceX Fires Mars-Bound Raptor Engine

SpaceX Fires Mars-Bound Raptor Engine With a test of this magnitude, with this sort of power inside an engine of this size, a worst-case scenario means fire, and lots of it. Elon Musk has taken to Twitter to post a video of Space X's new Starship Raptor rocket engine, and it's extremely enjoyable to watch. [Full Article...]

UK's May says she is 'armed with fresh' Brexit mandate

UK's May says she is 'armed with fresh' Brexit mandate Late last month, the MPs voted in favour of an amendment that was tabled by Sir Graham Brady to look for "alternative arrangements" to the Irish backstop after the MPs turned down the Brexit deal of the Prime Minister by historic margins last January. [Full Article...]

Lyft and Juno sue NYC over driver pay rules

Lyft and Juno sue NYC over driver pay rules Ride-hailing companies, Lyft and Juno have reportedly filed a lawsuit against the city of NY for implementing a new law that makes it mandatory for the firms to pay drivers a minimum wage . It's based on a "utilization rate" that adjusts the amount drivers are paid per mile and per minute based on how much work they're getting per hour. Judge Andrea Masley set a March 18 hearing for the lawsu... [Full Article...]

TSA agent jumps from hotel balcony inside airport

TSA agent jumps from hotel balcony inside airport Rep. Darren Soto, D-Fla., noted in a tweet that the officer's death comes after TSA employees struggled through a partial government shutdown. The closure began on began on December 22 and lasted for 35 days. "We are working closely with our partners at @ TSA and @MCO to restore normal airport operations". Police scuttled rumors that there were "suspicious vehicles" connected to the incident. [Full Article...]

US Jobs Reported Growth Despite Government Shutdown

US Jobs Reported Growth Despite Government Shutdown The numbers exclude farm work, which is seasonal and often volatile. It marks the 100th month in a row the U.S. Has seen job growth. The nonpartisan Congressional Budget Office estimates that it lowered annual growth for the January-March quarter by about 0.4 percentage point, to a rate of 2.1 percent. [Full Article...]

Govt declines extension to new e-commerce FDI norms

Govt declines extension to new e-commerce FDI norms While the government has clarified that there's no "restriction on the nature of products (private labels) sold on the marketplace", but the first two guidelines taken in conjunction imply that Amazon or Flipkart can not sell its own products and private labels. [Full Article...]

Full-year profit at Unilever soars, sales edge lower

Full-year profit at Unilever soars, sales edge lower Unilever posted a 5.1% decline in turnover to 50.98 billion euro (£44.65 billion), which the company blamed on foreign exchange headwinds of 6.7% and the disposal of the spreads business , which was completed last July. The Anglo-Dutch group, which is working to move on from last year's botched plan to shift its main headquarters to the Netherlands, saw its shares fall almost 3 percent on Thursda... [Full Article...]

New Tesla Model Y coming soon

New Tesla Model Y coming soon Tesla's CFO Deepak Ahuja has announced he is leaving the company in a few months. Its $7.2 billion in revenue beat analysts' $7.1 billion estimate. Tesla blamed the hit on earnings on various factors including higher import duties incurred on parts sourced from China . "He's proven himself over the years with many tough challenges he's worked on". [Full Article...]

Amazon net sales increased 20 percent to $72.4 billion in Q4 2018

Amazon net sales increased 20 percent to $72.4 billion in Q4 2018 It also found the company had turned over £6.86 billion in the United Kingdom since 1998, but made £213 million profit - including five years of losses. Amazon was light on specifics but said that 2018 was the biggest holiday shopping season ever for Amazon devices. The number of devices with Alexa built-in more than doubled in 2018 to over 150. [Full Article...]

PG&E, owner of biggest U.S. power utility, files for bankruptcy

PG&E, owner of biggest U.S. power utility, files for bankruptcy These promises will likely come up in a Wednesday hearing where the federal court judge overseeing PG&E's criminal probation for its role in causing the deadly 2010 San Bruno pipeline explosion will consider ordering PG&E to reinspect , fix and clear vegetation from the entirety of its 106,000 miles of transmission and distribution grid by the start of summer this year. [Full Article...]

Markets Right Now: Stocks are off to an uneven start

Markets Right Now: Stocks are off to an uneven start The Fed's policy statement indicates the United States central bank will remain on a dovish path, which is very supportive for risk assets, at least on the short term, said Putri Pascualy, managing director for PAAMCO in Irvine, California. [Full Article...]

President Trump optimistic ahead of trade talks with China

President Trump optimistic ahead of trade talks with China The two sides have just a month remaining in a 90-day truce declared in December. "Our sense from our discussions last week in China is that China is struggling to come up with anything on the technology transfer side, and from our standpoint that's problematic", Myron Brilliant, the chamber's head of global affairs, said. [Full Article...]

Podcast | Where Are the Jobs? Key Takeaways from the NSSO Report

Podcast | Where Are the Jobs? Key Takeaways from the NSSO Report Sabnavis said in case the NITI Aayog or the NSSO come up with a different set of data, it would be necessary to let everyone know why the earlier survey was wrong. In what now looks like a pattern, the report had been approved by the labour minister in December but not released to the public. The data is significant because this was the first comprehensive assessment of the employment situatio... [Full Article...]

Alibaba's Q4 cloud revenue up 84 percent from a year ago

Alibaba's Q4 cloud revenue up 84 percent from a year ago The company said sales from core commerce increased 40% year-over-year to 102.8 billion Chinese yuan ($14.96 billion) and its cloud-computing revenue surged 84% YoY to 6.6 billion Chinese yuan ($962 million). "The healthy balance sheet of Chinese households and the increasing availability of credit will fuel consumption", Tsai said on Wednesday. On the same call, Zhang said the company remains... [Full Article...]


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