Business

Business After Ola, Chinese ride-sharing giant Didi enters Australia
Author: 0 After Ola, Chinese ride-sharing giant Didi enters Australia

Commenting on the win, Zenith Australia CEO, Nickie Scriven, said, "We are delighted to be appointed as DiDi's lead agency as we launch DiDi into the Australian market". The International Monetary Fund warned this week US tariffs could dent global growth, but according to reports, President Trump is preparing to unveil $50 billion worth of new tariffs on another batch of Chinese imports.

Business European Central Bank gets ready to pull the plug on stimulus
Author: 0 European Central Bank gets ready to pull the plug on stimulus

But he injected a note of caution by making the step "subject to incoming data confirming our medium-term inflation outlook". "The end of December's asset purchase program was largely expected". "It is certainly a possibility now". The bank said it was pulling the plug on its 2.55 trillion euro stimulus program, but after the Federal Reserve raised US interest rates for the second time this year on Wednesday, the ECB rate promise came as a relief.

Business CPB Contractors wins $260m contract for BHP's South Flank
Author: 0 CPB Contractors wins $260m contract for BHP's South Flank

The dual-listed mining giant said the Western Australian project will fully replace production from its 80 million tonnes per year Yandi mine , which is reaching the end of its economic life. The investment includes construction of a new 80 million tonnes/year crushing and screening plant, as well as train loading facilities, a conveyor system and a stockyard.

Author: 0 Stocks close down as U.S., China trade fire on tariffs

If tariffs are placed on those products, they would likely affect farmers and rural supporters of president Trump . Beijing's countermeasures closely mirrored Washington's, with 545 American exports, also valued at $34 billion, facing punitive duties as of July 6, including agricultural products and vehicles, according to the official news agency Xinhua.

Business Rolls-Royce Cutting Costs, Slashing Jobs
Author: 0 Rolls-Royce Cutting Costs, Slashing Jobs

Rolls-Royce plans to cut 4,600 jobs over the next 2 years as part of a major restructuring effort by the British plane engine manufacturer. It has amassed orders for over 2,700 aero engines for wide-body aircraft and business jets and is now undertaking its biggest ever increase in large engine production, targeting over 600 wide-body engines a year by the end of this decade.

Business Simply Be and High & Mighty stores set to close
Author: 0 Simply Be and High & Mighty stores set to close

The shops, which are dotted around the United Kingdom, from London to Belfast and Glasgow, contributed £15m, or 2% sales, past year and made a loss of £3m. Analyst Darren Shirley at Shore Capital said: "In a challenging quarter for United Kingdom apparel, N Brown's first quarter 2018 trading has been a little better than subdued expectations, with management viewing the performance as "satisfactory...

Author: 0 Washington unemployment rate drops to 4.7 percent

A byproduct of higher participation has been a stubbornly high unemployment rate, which has fallen just 0.2 percentage points over the past year. The participation rate - which measures the percentage of people either in work or seeking work - was steady.

Business Trump attacks OPEC again ahead of meeting
Author: 0 Trump attacks OPEC again ahead of meeting

The two nations want to put pressure on Opec producers to keep prices under control, he said in New Delhi on Wednesday, asking not to be identified because of internal policy. But the president has not mentioned the tax increase idea in months as gas prices have steadily risen because of higher oil prices on the world market, eating into higher take-home pay that millions of American workers gained when Congress late previous year passed tax-cut legislation supported by Trump.

Business Is Wetherspoons really banning champagne because of Brexit?
Author: 0 Is Wetherspoons really banning champagne because of Brexit?

Founder and vocal Brexit supporter Tim Martin said that the move to non-EU suppliers would help to make prices lower in the long run, if the United Kingdom ends tariffs once it has left the customs union. Martin explained his anti-EU standpoint with: "There will be an inevitable transfer of trade post-Brexit to countries outside the European Union, which will reduce prices in shops and pubs".

Business Volkswagen fined $1.2 billion in Germany over diesel scandal
Author: 0 Volkswagen fined $1.2 billion in Germany over diesel scandal

German auto manufacturer Volkswagen AG announced Wednesday to accept 1 billion euro (1.18 billion US dollars) fine issued by local public prosecutor in the context of the diesel gate scandal, to terminate proceeding in Germany . "This relates to bringing diesel vehicles fitted with manipulative emissions management software into circulation on the European market". " Volkswagen AG, by doing so, admits its responsibility for the diesel crisis and considers this as a further major step ...

Business The Trump Presidency: Trump announces 25% tariff on Chinese goods
Author: 0 The Trump Presidency: Trump announces 25% tariff on Chinese goods

US soybean futures plummeted earlier this week on fears that a trade war was brimming and China would follow through on its threat of a 25 percent soybean tariff . The IMF said the White House , which has also threatened to withdraw from the North American Free Trade Agreement (Nafta), was responding to rising concerns about the side-effects of free trade.

Business Facebook admits to collecting data on non-users
Author: 0 Facebook admits to collecting data on non-users

In response , Facebook only committed in writing that it would "investigate all apps that it had access to large amounts of data". Facebook also clarified that its Business Tools allowed partners to share data outside of the platform, adding that it also collected device information including IDs, app behaviour and so on.

Business Seattle divided as leaders halt tax on companies like Amazon
Author: 0 Seattle divided as leaders halt tax on companies like Amazon

The Associated Press called the vote to repeal a "quick surrender" demonstrating the power of Amazon to sway governments at all levels against taxes. Meanwhile, Seattle's homeless population increased 44 percent in the past two years, and the town and surrounding county have the nation's third-largest concentration of people sleeping on the streets, according to a count done in 2017.

Business United Kingdom plumber gives Uber reason to worry over 'gig' employment status
Author: 0 United Kingdom plumber gives Uber reason to worry over 'gig' employment status

The ruling came after it applied a series of tests relating to whether Smith undertook his work in a personal capacity and whether Pimlico Plumbers was considered as a client or customer. Susannah Kintish, employment partner at law firm Mishcon de Reya, which was instructed by the appellants, said: "This judgment does not lay down any new principles of law around worker status".

Business Theranos founder Elizabeth Holmes steps down as CEO
Author: 0 Theranos founder Elizabeth Holmes steps down as CEO

Holmes, who left Stanford University's School of Engineering in 2003 to build Theranos , has been replaced by the much-diminished firm's general counsel, David Taylor, who remains the company's top lawyer. Starting in 2013, the Justice Department's indictment alleges, Holmes and Balwani started making grand claims about the company and its technology to investors that were false or misleading.

Business American Airlines Cancels 275 PSA Flights, Charlotte Douglas International Airport Most Impacted
Author: 0 American Airlines Cancels 275 PSA Flights, Charlotte Douglas International Airport Most Impacted

Early Friday morning, Greenville-Spartanburg International Airport shows several canceled flights. "PSA plans to resume their operations at 12 p.m. ET on June 15". "We never want to disrupt our customers' travel plans, and we are sorry for the trouble this caused", the carrier said in a statement. Auto rental businesses are also struggling to accommodate the stranded passengers.

Business Ethereum spikes after the SEC declares it's not a security
Author: 0 Ethereum spikes after the SEC declares it's not a security

Unlike shares of a company, the value of digital assets like bitcoin and ether (the underlying currency of ethereum) are not tied to a single company. The speech of Hinman was specifically noteworthy and important because it was the first case in which an official from the SEC provide clarity on the nature of Bitcoin and Ethereum in a public statement.

Author: 0 McDonald's set to ditch plastic straws

An increasing number of businesses are removing plastic straws from their operations in a bid to stem plastic waste which pollutes oceans and harms marine wildlife such as turtles and fish. But not everyone thinks total bans are the answer. "The government's ambitious plans, combined with strong customer opinion, has helped to accelerate the move away from plastic and I'm proud that we've been able to play our part", said Paul Pomroy, chief executive of McDonald's United Kingdom and Ireland.

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