Business

Lyft's stock pain an ominous sign for Uber IPO

Lyft's stock pain an ominous sign for Uber IPO Securities and Exchange Commission revealed Uber had 91 million average monthly active users on its platforms, including for ride-hailing and Uber Eats, at the end of 2018. Uber set a placeholder amount of $1 billion but did not specify the size of the IPO. Polish taxi drivers held up traffic in Monday to call attention to their message that Uber drivers represent unfair competition, reported The... [Full Article...]

Oil hovers near 5-month highs as global markets tighten

Oil hovers near 5-month highs as global markets tighten As a result of being blindsided by the U.S. and due to their need to support the price of crude oil , Saudi Arabia made a 180 degree turn: During a four-month period from December to March the kingdom's production slumped from a record to a four-year low, well below the level they had agreed as part of the Opec+ deal to cut production. [Full Article...]

IMF downgrades global economic growth forecasts for 2019

IMF downgrades global economic growth forecasts for 2019 Gopinath told a news conference Tuesday that monetary policy space varies across different countries, and for many advanced economies it remains limited. Advanced economies are expected to slow down to 1.6% growth by 2022 and remain at that rate thereafter. It is the lowest annual growth outlook since the Great Recession of 2008. [Full Article...]

Coinbase Launches Crypto Visa Debit Card for United Kingdom and EU Customers

Coinbase Launches Crypto Visa Debit Card for United Kingdom and EU Customers The new debit card costs $6.50 (£4.95) to emit, and it enables customers to instantly convert their crypto through a new Coinbase app. This is the first debit card to link directly with a major cryptocurrency exchange in the United Kingdom and EU. [Full Article...]

Mnuchin has fiery exchange with Rep. Maxine Waters during hearing

Mnuchin has fiery exchange with Rep. Maxine Waters during hearing Mnuchin said he'd notified committee staff on Monday that he'd need to leave at 5 p.m. Fellow Democrat Sen. Mark Warner of Virginia echoed Wyden, urging Rettig to respond to the request for the president's tax returns "without any interference by the Treasury Secretary" or the White House. [Full Article...]

Sports Direct and Newcastle United owner Mike Ashley in talks over Debenhams

Sports Direct and Newcastle United owner Mike Ashley in talks over Debenhams Pre-pack administration is typically a court-based process which can allow creditors to take control in a pre-agreed plan while the company continues to operate as normal. On Sunday night the billionaire called for the retail chain's board to be investigated and trading in its shares to be suspended. The Newcastle United owner made the now-rejected offer on Friday, saying it would form part of a... [Full Article...]

Brexit: Theresa May to meet Angela Merkel and Emmanuel Macron

Brexit: Theresa May to meet Angela Merkel and Emmanuel Macron So far, MPs have rejected the withdrawal agreement Theresa May reached with other European leaders past year. May's Conservative government and the main opposition Labour Party have been trying to find a compromise Brexit deal before European Union leaders decide Wednesday whether to grant a second extension to the U.K.'s departure. [Full Article...]

United Kingdom lords approve Brexit law forcing May to consult parliament on delay

Three days of cross-party talks so far have ended with no agreement. Rees-Mogg warned that the decision to meet with the hard-left opposition leader "risks giving a degree of credibility" to Jeremy Corbyn and of "undermining the general thrust of the Conservative argument that he is a Marxist who would be risky to this nation's interests". [Full Article...]

European Union stands 'fully behind Ireland' in Brexit negotiations, says Barnier

European Union stands 'fully behind Ireland' in Brexit negotiations, says Barnier Speaking after today's meeting with the taoiseach, Mr Barnier said: "You have our full support and, I have said before, the backstop is now the only solution we have found to maintain the status quo on the island of Ireland". He said he sincerely hoped it would be possible to find consensus in Westminster, but that if a no-deal outcome occurred, it would be a "shared challenge" between Ireland and... [Full Article...]

Trump says Fed should cut rates, stop shrinking balance sheet

Trump says Fed should cut rates, stop shrinking balance sheet The U.S. president also suggested that the central bank pursue an unconventional monetary policy called "quantitative easing" that was used to nurse the economy back after the global financial crisis. The president said those were unnecessary because there is "very little, if any inflation". But the White House declared repeatedly that Trump does not plan to remove Powell as Fed chairman. [Full Article...]

New Brunswick unemployment rate falls in March

New Brunswick unemployment rate falls in March Economists on average had expected a gain of 1,000 jobs in March and an unemployment rate of 5.8 per cent, according to Thomson Reuters Eikon. In Norfolk County, where figures are estimated every three months, the unemployment rate was six per cent for March. [Full Article...]

May turns to opposition to end Brexit impasse

May turns to opposition to end Brexit impasse That instability increases the chance of an early British election, which could rearrange Parliament and break the deadlock. Smith says May known as the election to strengthen her hand in delivering Brexit, but was weakened when she lost her majority. [Full Article...]

Brexit gamble: UK's May to meet opposition leader to seek a deal

Brexit gamble: UK's May to meet opposition leader to seek a deal As things stand, Britain will still leave the European Union on April 12 without a deal, a scenario many Conservative lawmakers would welcome, but that businesses fear could cause huge economic damage. May announced she was seeking yet another short-term extension on Brexit beyond an April 12 deadline Tuesday, reported Reuters . May has conceded that Britain will need a further delay to its... [Full Article...]

Constellation Sells 30 Alcohol Brands For $1.7B, Looks At Cannabis Beer

Constellation Sells 30 Alcohol Brands For $1.7B, Looks At Cannabis Beer Sales of wines and spirits, however, fell 7.6 percent in the quarter. The company's new low-calorie Premier beer and Corona Familiar, launched in the United States early previous year, boosted beer sales up 9.3% to US$1.09 billion in the three months to Feb 28 and helped it beat analysts' estimates. [Full Article...]

Trump to pick former presidential candidate Herman Cain for Fed seat

Trump to pick former presidential candidate Herman Cain for Fed seat The announcement comes weeks after Trump floated another nominee to fill an open seat on the Fed board: Stephen Moore , a former campaign adviser and distinguished fellow at the conservative Heritage Foundation. An Atlanta woman also said she had conducted an extramarital affair with Cain for more than 13 years. Romney was referring to Cain's proposal from his 2012 presidential campaign that wo... [Full Article...]

Fisher-Price Rock 'n Play warning: 10 infant deaths linked to sleeper

Fisher-Price Rock 'n Play warning: 10 infant deaths linked to sleeper Medical experts say the product poses a risk because infants typically begin to roll over at three months. Fisher-Price said in a statement that their product meets safety standards. "CPSC and Fisher-Price remind consumers to create a safe sleep environment for infants, whether using a crib, bassinet, play yard, or inclined sleeper", the press release continued. [Full Article...]

Trump administration stands behind Fed nominee Moore: aide

Trump administration stands behind Fed nominee Moore: aide One person, who heard the comments made by the President about Powell, described it as "pretty rough", according to the Journal. U.S. Federal Reserve Chairman Jerome Powell holds a news conference following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, U.S., March 20, 2019. [Full Article...]

Explained: Why Supreme Court order on RBI note matters

Explained: Why Supreme Court order on RBI note matters The decision caused panic for many companies, in particular those in the power sector. As part of the resolution plan, the State Bank of India (SBI)-led lenders consortium has taken over 50.5 per cent stake in the airline, with a view to selling the shares to a potential buyer in the coming months. [Full Article...]

Target increasing minimum wage to $13, hopes for $15 by 2020

Target increasing minimum wage to $13, hopes for $15 by 2020 The company employs more than 300,000 workers and operates almost 1,850 stores across the country. The discount chain is investing billions of dollars to improve its supply chain, expand online sales and improve delivery of merchandise to shoppers' homes. [Full Article...]

United Kingdom construction activity slows for second consecutive month

United Kingdom construction activity slows for second consecutive month Business activity dropped to its lowest point in the commercial sector since March 2018, the survey reveals, with most of the blame being placed at the door of Brexit-triggered uncertainty about the United Kingdom market outlook. "Furthermore, strong competition for contracts was also reported by some panel members". "The outlook was underwhelming by historical standards, with the unsettled poli... [Full Article...]


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