Business

Ford invests $500 million in Rivian, will develop EV on its platform

Ford invests $500 million in Rivian, will develop EV on its platform Rivian initially came into the scene in 2017, when it unveiled its fully electric sport utility vehicle (SUV) and pickup truck. Ford has also made a decision to invest US$500 million ($700 million) in Rivian in exchange for a minority stake in the new automaker. [Full Article...]

Amazon ad growth slows to 36 percent but still brings the profits

Amazon ad growth slows to 36 percent but still brings the profits Overall, first-quarter sales rose 17 per cent to US$59.7b, compared to sales growth of 46 per cent previous year. It's unclear if this will be a reality come this holiday season, but Olsavsky says that it is making "steady progress" towards this goal. [Full Article...]

Tokyo court approves ex-Nissan chief Carlos Ghosn's $4.5m bail

Tokyo court approves ex-Nissan chief Carlos Ghosn's $4.5m bail Prosecutors have argued against his release, saying he may tamper with evidence or influence witnesses. In principle, the same conditions as those imposed on Ghosn for his first release will remain in place. The emails indicated a desire to keep the existing structure of the alliance with a "re-balancing of the shareholding" to reduce Renault's 43 percent stake in Nissan, and stated that Nissan'... [Full Article...]

Kohl’s wants more of your Amazon returns

Kohl’s wants more of your Amazon returns The retailer started a test with Amazon at 82 stores in Los Angeles and Chicago at the time and has since added close to two dozen stores in Milwaukee to the pilot. It seems that if Kohl's can sustain a relationship with Amazon's e-commerce empire, it can live to fight another day. If you're a repeat Amazon customer but returning things through the mail seems like a hassle to you and you... [Full Article...]

Spawned by Google, Wing wins FAA’s air carrier certification for drone deliveries

Spawned by Google, Wing wins FAA’s air carrier certification for drone deliveries In Australia-where the company has been testing since 2014-Wing drones deliver everything from burritos and coffees to over-the-counter medications. Alphabet's Wing division has scored another important milestone after the aviation regulator in the United States (the Federal Aviation Administration or FAA) granted it permission to begin home deliveries. [Full Article...]

Microsoft is flying thanks to the cloud

Microsoft is flying thanks to the cloud Net income rose to $8.81 billion, or $1.15 per share, from $7.42 billion, or 96 cents per share, a year earlier. Microsoft sees its productivity and business processes unit, mostly Office software, reaching revenue of $10.6 billion to $10.8 billion in the fiscal fourth quarter, Hood said . [Full Article...]

Recovery complete as S&P 500 sets new high

Recovery complete as S&P 500 sets new high In New York, the S&P 500 and Nasdaq also dropped from their record high closings. AT&T Inc was the biggest drag on the S&P 500 , declining 4.7% after the second-largest USA wireless carrier reported quarterly revenue below Wall Street estimates. [Full Article...]

Microsoft's cloud growth pleases Wall Street

Should the stock hold its gains in Thursday's trading, Microsoft's market capitalization will vault above $1 trillion . Microsoft shares have risen 23 per cent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 per cent. [Full Article...]

Facebook sets aside billions of dollars for a potential FTC fine

Facebook sets aside billions of dollars for a potential FTC fine Facebook recorded a $3bn legal expense "in connection with the inquiry of the FTC into our platform and user data practices ", the company said. Total expenses in the first quarter were $11.8 billion, up 80 percent compared with a year ago. [Full Article...]

Russia Offers Kim Jong-un 'Simple' Caviar Feast for North Korea Summit

Russia Offers Kim Jong-un 'Simple' Caviar Feast for North Korea Summit It is also Kim's first global voyage since President Trump walked out on a "bad deal" at the second U.S. Russian Federation has not ruled out changing its previous position and asking that economic sanctions on North Korea be lifted. North Korean leader Kim Jong-un said he was looking forward to his first talks with Russian President Vladimir Putin as he arrived in the country on Wednesday, se... [Full Article...]

Air India Express plans to lease some Jet Airways' Boeing 737s

Air India Express plans to lease some Jet Airways' Boeing 737s Later, on April 16, it grounded the rest of the planes in its fleet, when it made a decision to temporarily suspend all its domestic and global services. In December previous year, Jet Airways was operating a fleet of 124 aircraft, mostly consisting of Boeing 737, 777 and Airbus A330 and was employing more than 16,000 people. [Full Article...]

Warren's student debt relief program would have big impact in NH

Warren's student debt relief program would have big impact in NH Debt forgiveness alone would involve a one-time cost of $640 billion. "What Senator Warren is suggesting is that people below a certain income threshold, $100,000 as a household income, can be forgiven up to $50,000 of their student loan debt", said Dr. [Full Article...]

Elon Musk looks guilty of distracted driving

Elon Musk looks guilty of distracted driving Musk says that all Tesla cars now being produced have the ability to be autonomous through the Navigate feature of Autopilot , it would only take a software update to enable it. Musk says full self-driving features will be rolled out in future via over-the-air updates when available. Tesla has claimed it will have a million self-driving taxis on the road in 2020. [Full Article...]

Iowa unemployment rate stands at 2.4%

Iowa unemployment rate stands at 2.4% Of the surrounding states, IN continues to be the only one to have an unemployment rate below 4 percent. The strongest growth was in professional and business services (up 8,300 jobs) and in health care and social assistance (up 2,800). The statewide jobless rate was 3.5 percent, a drop of two-tenths of a percentage point from February. And the total job count for IL in March was up by 47,400 ... [Full Article...]

Pompeo cancels sanctions waivers, looks to bring Iranian oil exports to "zero"

Pompeo cancels sanctions waivers, looks to bring Iranian oil exports to USA crude futures gained 2.4 per cent, or $1.52 a barrel, to $65.52. The global benchmark price rose as high as $74.31 earlier in the session, its highest intraday level in nearly six months. The decision to end sanctions waivers was finalized by President Donald Trump on Friday. But the price of oil has climbed recently, as US sanctions also hit Venezuela, and the conflict in Libya makes produc... [Full Article...]

Tesla investigates after video allegedly shows Model S car exploding in China

Tesla investigates after video allegedly shows Model S car exploding in China The viral video appears to show gases escaping from the battery module before it bursts into flames , shooting fire out from beneath the front and sides of the vehicle. The automaker now imports all the cars it sells in China, but is building a factory in Shanghai that will initially make its Model 3 and help reduce the hit of a trade war. [Full Article...]

Sen. Elizabeth Warren's free college plan aims to eliminate most student debt

Sen. Elizabeth Warren's free college plan aims to eliminate most student debt In a Medium post , Warren wrote that the U.S. "Once we've cleared out the debt that's holding down an entire generation of Americans, we must ensure that we never have another student debt crisis again", the senator suggested. "It covers more and it addresses both the access question of going to college and the problem of the debt burden for our students", she said. "She's targeting the most ... [Full Article...]

British cyber expert pleads guilty to creating malware

British cyber expert pleads guilty to creating malware In a statement posted on his website , Hutchins said he regrets his actions and takes full responsibility for his mistakes. The indictment said Hutchins, then 23, and an unidentified accomplice conspired to create and sell malware meant to steal login information and other financial data from online banking sites. [Full Article...]

Pinterest, Zoom make public debut - What to know in markets Thursday

Pinterest, Zoom make public debut - What to know in markets Thursday Two highly-anticipated tech companies will make their public market debut Thursday, Pinterest and Zoom . Why does it matter? San Francisco-based Pinterest has more than 250 million monthly users. Seeking a massive $100 billion valuation, traders are already betting on whether it will follow in the footsteps of its rival Lyft, or exceed expectations. [Full Article...]

Asad Umar Decides to Resign from the Post of Finance Minister

Asad Umar Decides to Resign from the Post of Finance Minister Umar tweeted Thursday, April 18, 2019 that Prime Minister Imran Khan offered him the energy portfolio in the Cabinet but he refused. "As part of a cabinet reshuffle, (the) Prime Minister desired that I take the Energy Minister portfolio instead of finance". [Full Article...]


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