Business

In setback, European Union court says Singapore trade deal needs national ratification

In setback, European Union court says Singapore trade deal needs national ratification A ruling by the EU's top court on Tuesday set an important precedent that trade agreements will have to be ratified by the bloc's 38 national and regional parliaments if they include clauses about investors' rights. Traditionally, the commission is given a mandate for trade talks by EU members states, but the final agreement has to be approved by EU ministers and the European parliament before i... [Full Article...]

Oil price surges after Russian Federation adds to cuts extension call

Saudi Arabia and Russian Federation, the world's two top oil producers, agreed on Monday to extend oil output cuts for a further nine months until March 2018 in a bid to erode a global crude glut, pushing up prices. "That is the most important condition for stability", he said at a separate press conference in Beijing. Oil has gained support from the deal but inventories remain high and rising... [Full Article...]

China 'seriously concerned' over North Korea missile warnings

China 'seriously concerned' over North Korea missile warnings But it has shown signs of changing in its stance since Trump shifted from the policy of "strategic patience" pursued by his predecessor, Barack Obama, to one of pressure. China has refused to comment on whether Wu Dawei, who travelled to South Korea last week to discuss tough new sanctions, had to cancel a planned visit to Pyongyang on Friday. [Full Article...]

Lyft and Waymo reach deal for driverless car technology

Lyft and Waymo reach deal for driverless car technology A spokesperson of Lyft stated that as Waymo provides the best self-driving technology now, the Lyft Waymo collaboration will help in accelerating their visions to provide the most efficient transportation facility. Lyft said that deal was non-exclusive, meaning that it could continue its self-driving partnership with USA vehicle maker General Motors, a Lyft investor. [Full Article...]

Family Kicked Off JetBlue Flight Over ... Birthday Cake

Family Kicked Off JetBlue Flight Over ... Birthday Cake Cameron Burke tells the Daily News they were flying out of Kennedy Airport May 3 when he was asked to remove the cake, which he did. The father told ABC 7 that he moved the dessert from an overhead bin to under the seat in front of him when asked, but that two flight attendants still had an issue. [Full Article...]

How $11 helped stop a global cyberattack

The hackers are believed to have used "cyber weapons" stolen from the US' National Security Agency to lock up computers and hold users' files for ransom. An worldwide manhunt was well under way for the plotters behind the world's biggest-ever computer ransom assault. France's carmaker Renault was forced to stop production at a number of sites. [Full Article...]

Overblown claim on new China trade deal

Overblown claim on new China trade deal China banned American imports in 2003 after an outbreak of mad-cow disease. And the new agreements also formalize the ability of China to import natural gas from the United States; China already imports significant volumes of USA liquefied natural gas. [Full Article...]

Elon Musk names first Boring Company tunneling machine 'Godot'

Elon Musk names first Boring Company tunneling machine 'Godot' The tunneling machine, Boring 1 (or Godot ), now has a proper entry hole, staging area, and starting tunnel. The video below contains flashing lights, which has potential to induce motion sickness and/or seizures for people with photosensitive epilepsy. [Full Article...]

Energy Stats: Need a Roof? I Got a Guy

Energy Stats: Need a Roof? I Got a Guy In general, you can expect the Solar Roof tiles to cost between $30 and $45 per square foot. Also the solar shingles are much more durable than traditional shingles, and Tesla is raising some eyebrows with its lifetime warranty. Tesla will manufacture the tiles at its solar factory in Buffalo, New York. He says that the power of sun goes to the batteries and that is how all the roof owners wi... [Full Article...]

Buffett: GOP Health Care Bill a Tax Cut for the Rich

Speaking on CNBC television, Buffett said, "It's a defect of mine" that he doesn't focus as closely on the efficiency of business units at Berkshire Hathaway Inc BRKa.N , the conglomerate he has run since 1965. Still, Buffett said that layoffs were sometimes necessary to make companies more productive. However, he said the USA must do more to help Americans who lose their jobs to overseas compet... [Full Article...]

Baahubali 2 becomes No.1 Hindi movie

Baahubali 2 becomes No.1 Hindi movie The first part had done a business of Rs 115.56 crore nett in the second week and the second part has shown a growth of 25% in the numbers. SS Rajamouli has indeed made Baahubali The Conclusion the first pan-India film and its box office collection is in no mood to slow down. [Full Article...]

Snapchat's Growth Stalls in Facebook's Shadow in 1Q Report

It's not unusual for tech startups to post many years of losses as they build market share and recoup their initial investments. Although revenue for Snap was close to quadrupled during the quarter, it rose to only $ 150 million and was short of what analysts on Wall Street estimated of $158 million. [Full Article...]

Thousands of people fill arena to hear from Warren Buffett

Buffett said on CNBC that the bloody removal of a 69-year-old passenger from a plane was obviously "a bad mistake". The world's most famous investor, the Oracle of Omaha, Warren Buffett expressed regrets about not being able to gauge two tech companies, where he doesn't own a stock but they are doing extremely well. [Full Article...]

OPEC sees much higher oil supply from rivals in 2017

Mounting fears of continued oversupply last week caused oil prices to fall to levels not seen since November, before the Opec deal. Currently, OPEC is planning to extend the tenure of this oil curb to the year-end or to next year. After talks, the buyer avoided a cut in June because of an earlier request for extra supplies, the source said. But probably to bring back confidence in the oil ma... [Full Article...]

Australia plans major spending plus surplus in 3 years

Australia plans major spending plus surplus in 3 years Investors were already wary of the banks and the news, combined with slightly soft trading update from the Commonwealth Bank of Australia, deepened a sell-off that began on May 2 and has now sliced A$30 billion from the capitalisation of the banks. [Full Article...]

No China investor meetings this weekend for Kushner company

No China investor meetings this weekend for Kushner company Last weekend, Nicole Kushner Meyer, Jared's sister, pitched a group of wealthy Chinese investors on a luxury-apartment-building project in New Jersey. Jared Kushner's father-in-law, Donald Trump , even popped up once during the presentation, described as a "key decision maker" about the future of the EB-5 program. [Full Article...]

Anthem gives up Cigna bid, vows to fight on over damages

Anthem gives up Cigna bid, vows to fight on over damages The judge stayed the ruling temporarily so Anthem can consider whether to seek appellate review, a decision it must make by Monday. "The reality is both parties probably have some risk and they'll bargain for something between zero and $1.85 billion", said Matt Cantor, an antitrust lawyer at Constantine Cannon. [Full Article...]

Boeing halts test flights of new plane over engine issue

Boeing halts test flights of new plane over engine issue The engine had achieved U.S. Federal Aviation Administration (FAA) and European EASA certification in May 2016. Boeing says it had not detected any issue with the engines during flight testing that commenced in January 2016. Boeing fell 1.2 percent to $183.18 at the close in NY, the second-biggest decline on the Dow Jones Industrial Average, after adjusting for the beginning of trading without ... [Full Article...]

Dakota Access pipeline leaked 84 gallons of oil in April

Dakota Access pipeline leaked 84 gallons of oil in April The 1,172-mile, 30-inch diameter Dakota Access Pipeline traverses farmland near Sioux Falls, South Dakota. In the middle of February they began construction on the new Rover Pipeline; a project which resulted in 18 incidents involving "mud spills from drilling, stormwater pollution and open burning that violated the Clean Air Act". [Full Article...]

OPEC Weighs Bigger Production Cuts Amid Oil's Latest Plunge

Stocks rose by 3.169 million barrels, according to the API, against an expected draw of 700,000 barrels. Production fell in the UAE, Libya, Iraq and Iran, but rose in Saudi Arabia and Angola, with Saudi Arabia's output up almost 50,000 barrels a day. [Full Article...]


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