Business

Lego parent buys Madame Tussauds owner Merlin for £5 bln

Lego parent buys Madame Tussauds owner Merlin for £5 bln May 22 is the day before activist investor ValueAct Capital, which owns 9.3 percent of Merlin, urged the United Kingdom company's board to go private - sending the stock higher. "We believe that this group of investors has the unique collective resources necessary to equip Merlin. for their next phase of growth", said Soren Thorup Sorensen, chief executive of Kirkbi, which holds around a 30% stake... [Full Article...]

Trade war de-escalation? Washington promises not to hit Beijing with new tariffs

Trade war de-escalation? Washington promises not to hit Beijing with new tariffs The U.S. has imposed 25% import taxes on $250 billion in Chinese products and is threatening to target another $300 billion - a move that would extend the tariffs to virtually everything China ships to the U.S. Trump hailed the meeting in the Japanese city of Osaka as "excellent". "In the midst of worldwide trade tensions, we are sending today a strong signal with our Mercosur partners that ... [Full Article...]

Apple Design Head Jony Ive Leaving the Company

Apple Design Head Jony Ive Leaving the Company Of course, it's unclear how close Ive and his new company will work with Apple in the future, though Ive said he "will still be very involved - I hope for many, many years to come", according to an interview with Financial Times (pay wall). [Full Article...]

Wall Street edges higher at open on tech boost

Wall Street edges higher at open on tech boost The South China Morning Post reported that the United States and China were laying out an agreement that would help avert the next round of tariffs on an additional $300 billion of Chinese imports. "If the trade talks fall apart a part a rate cut is a fait accompli". The Dow Jones Industrial Average. DJI fell 11.05 points, or 0.04%, to 26,525.77, the S&P 500. [Full Article...]

Alabama Car Dealership Celebrates America: Free Shotgun, Bible and Flag

The dealership added that all those eligible to receive the gifts must be 18 or older, have valid identification, are allowed to legally purchase a vehicle, and have passed all checks associated with owning a gun "in state of residency". He said the dealership partnered with certified firearm dealers in Alabama and Mississippi. According to the dealership, the first people to take advantage of t... [Full Article...]

Zimbabwe reverses currency policy; only recognises RTGS as legal tender

Zimbabwe reverses currency policy; only recognises RTGS as legal tender Zimbabwean President Emmerson Mnangagwa, who replaced longtime leader Robert Mugabe after an army coup in November 2017, is trying to fix an economy ruined by hyperinflation and a long succession of failed economic interventions. "This is unfair and unsustainable", said President Mnangagwa. In arriving at the decision to do away with the multi-currency regime, Government took into account the avai... [Full Article...]

United Nations chief says important Mideast peace efforts realize two-state vision

United Nations chief says important Mideast peace efforts realize two-state vision The Bahrain workshop, headed by Kushner, focuses on the economic aspects of the so-called deal of the century . But the event fizzled out on Wednesday after the Palestinians refused to attend because the economic plan is not accompanied by a political deal which guarantees them their own state. [Full Article...]

Facebook’s Libra to be ‘carefully’ looked at by US Fed

Facebook’s Libra to be ‘carefully’ looked at by US Fed Speaking at the forum, Mr Powell said that "authority for overseeing Libra is going to be in a number of places but I think the big picture is we're going to be looking really carefully at it". On Tuesday morning, consumer confidence dropped to the lowest level since September 2017 . In the cash market , the yen was trading at 107.45 yen. [Full Article...]

Iran slams new United States sanctions

Iran slams new United States sanctions Trump previous year withdrew from the 2015 nuclear pact brokered by the Obama administration with world powers and reimposed sanctions on Iran. "That is when you believe all options are at an end", Smith told Reuters . Last month, the president stepped up pressure by ending exemptions from secondary sanctions for countries still buying Iranian oil, saying he wanted to deny Iran's government... [Full Article...]

US Fed 'grappling' with need for rate cut: Powell

US Fed 'grappling' with need for rate cut: Powell Investors have always been anticipating rate cuts this year even as Fed policymakers had once suggested such a move would have been premature or even irresponsible in light of a strong labor market and lofty asset prices. The U.S. economy is slowing after a stronger than expected first quarter. He pointed in particular to the near-collapse of US-China trade talks last month. [Full Article...]

FedEx Sues US Commerce Department Over Huawei Phone

FedEx Sues US Commerce Department Over Huawei Phone On Friday, PCMag reported that FedEx "refused" to deliver a Huawei smartphone sent by one of its United Kingdom writers to the magazine's NY office. Google said it would stop supporting Android devices for phones made by Huawei, the world's second-largest supplier of smartphones, because the Chinese company was on Commerce's list. [Full Article...]

Trump signs executive order imposing 'hard hitting' sanctions on Iran

Trump signs executive order imposing 'hard hitting' sanctions on Iran The sanctions follow Iran's downing of a U.S. surveillance drone over the Strait of Hormuz. "The Supreme Leader of Iran is the one who is ultimately responsible for the hostile conduct of the regime", Mr Trump said. Editor's note: This editorial was first published on Saturday and has been updated throughout with news of sanctions and diplomatic moves. He added that in the letter Iran... [Full Article...]

RBI deputy governor Viral Acharya resigns 6 months before his term ends

RBI deputy governor Viral Acharya resigns 6 months before his term ends But he stayed on. One of the tension points he highlighted was the treatment of the RBI reserves. Then, on October 26 past year, just three days after the RBI's board meeting, Acharya made a fiery speech on the importance of independent regulatory institutions, a topic he claimed had been suggested by Patel. [Full Article...]

Eldorado Resorts clinches $18 billion cash and stock deal for Caesars

Eldorado Resorts clinches $18 billion cash and stock deal for Caesars The combined company will retain the Caesars name and own, operate and manage 60 casino-resorts across 16 states. To acquire the venerable Caesars name and properties, Eldorado will part with $7.2 billion in cash and around 77 million in stock shares. [Full Article...]

Aviation experts question security, passenger safety after sleeping woman left on plane

Aviation experts question security, passenger safety after sleeping woman left on plane Adams wrote that after she woke up, she called Noel-Dale to try to explain what happened, but her phone died and she couldn't charge it because power to the plane was off. The airline now says it's looking into how crew members could have exited the plane without noticing the sleeping passenger. She refused, saying that she had work in the morning and wanted to go home. [Full Article...]

Rate-cut euphoria elevates S&P 500 to record high

Rate-cut euphoria elevates S&P 500 to record high That milestone, which eclipsed the benchmark index's last record close on April 30, came amid a swift turnaround for stocks this month that has erased losses from a steep sell-off last month. Meanwhile, the Federal Reserve has signaled that it is willing to cut interest rates to stabilize the US economy if the trade dispute crimps growth. [Full Article...]

Photos Show Rat Falling From Ceiling Of Buffalo Wild Wings In Westchester

Photos Show Rat Falling From Ceiling Of Buffalo Wild Wings In Westchester The rat was still alive when the woman who was visiting from Texas photographed it. "We're having adult beverages", she says, "and we hadn't even ordered yet". The manager picked up the rat, put it on a plate, covered it with another plate, and dumped it into a bag. This awful incident has left the netizens disgusted at even the thought of dining at Buffalo Wild Wings. [Full Article...]

Slack opts for direct listing on the NYSE over IPO

Slack opts for direct listing on the NYSE over IPO Slack's direct listing could have implications for other large technology companies such as Airbnb Inc, which is considering going public through a similar approach, one person familiar with the matter said. Spotify's direct listing saw its share price swing wildly, with it rallying more than 30% in its first month of trading, before plummeting more than 40% before the end of 2018, with the stock ... [Full Article...]

Adidas 3-stripes logo deemed not worth trademarking

Adidas 3-stripes logo deemed not worth trademarking The firm was granted a trademark on the design by the EU Intellectual Property Office in 2014, but a Belgian company filed an application of declaration of invalidity. The three-striped branding was bought by adidas from Finnish sportswear brand Karhu in 1952, reportedly for two bottles of whisky and today's equivalent of approximately $2,000. [Full Article...]

Louis Fed's Bullard states his case for a rate cut

Louis Fed's Bullard states his case for a rate cut The Fed kept its benchmark rate - which influences many consumer and business loans - in a range of 2.25% to 2.5%, where it's been since December. The Fed and the European Central Bank this week hinted they were open to ease policies to counter a global economic slowdown, exacerbated by global trade tensions. [Full Article...]


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