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Alibaba's Jack Ma to step down in a year


Ma, one of the world's richest men, co-founded Alibaba in 1999 with 18 staff, turning it into a global internet sales and payments behemoth. The co-founder of the company, Ma, will however, remain as a board member of the Alibaba Group until the annual shareholder meet in 2020. Read More »

LA City Council Approves Rules for Electric Scooter Pilot Program


Rather than hire third-party contractors, Lyft will have full-time employees on the ground in Denver to recharge scooters and redistribute them around the city. But San Francisco regulators snubbed Lyft , along with Uber, Bird and Lime , on granting these companies operating permits. The council also approved a top speed of the scooters of 15 miles per hour, which is the speed already offered by Bird and Lime. Read More »

Trump tells Apple to move plants from China to US

Analysts do not see any resolution of the trade dispute until after the USA has its mid-term election on Nov 6 and, possibly, until early next year. That represents a small portion of Apple's $229 billion in overall sales. Apple did not respond to requests for comment . It did not mention the iPhone. Trump said Friday that the timing of the tariffs on the $200bn worth of goods is not yet final. Read More »

Tesla tumbles on new executive departures, Musk interview


Oh, and they also smoked a blunt together and threw back some whiskey! Shortly after smoking, Musk - dressed in a black T-shirt that says "Occupy Mars" - looks at his phone and laughs, telling Rogan he is getting texts from friends asking why he's smoking weed during the interview . Read More »

Canada Sheds Jobs in August, Pushing Jobless Rate To 6.0%


Windsor's unemployment rate jumped last month. Some workers moved from part-time employment to full-time work; there was an increase in the number of full-time positions across the country. "For the Bank of Canada, this report will likely be put into the broader context of slowing trend job gains consistent with an economy operating near capacity". Read More »

Les Moonves reportedly resigning, 12 women allege sexual misconduct


CNN's Brian Stelter reports that CBS top executive Les Moonves will be stepping down after sexual misconduct allegations have come to light. The news made headlines, and CBS promised to investigate the allegations, but since then there's been radio silence from the network as Moonves quietly continues on as CEO (he is now negotiating his exit from the company). Read More »

Canadian economy loses more than 51K jobs in August

OTTAWA-The Canadian economy unexpectedly shed jobs in August on a sharp drop in part-time work, helping to push the unemployment rate to 6.0%. The Ontario unemployment rate rose 0.3 percentage points in August, to 5.7%. Alberta gained 16,200 jobs last month, 11,000 of which were full time, for an overall increase of 0.7 per cent. The unemployment rate was 6.0 per cent compared with 5.8 per cent in July. Read More »

CBS negotiating exit of CEO Les Moonves


In May, CBS's board of directors voted to issue a special dividend, which would have the effect of diluting Redstone's stake from 80 percent to under 20 percent. The US television giant has been the focus of an ongoing legal battle between the Redstone family and the board, chaired by Moonves. Since then, dozens of other women have come forward with similar claims and CBS has launched an internal investigation. Read More »

Obama Heads to Anaheim for His First Campaign Rally of 2018


Obama urged Democrats to vote in November's elections to restore "honesty and decency and lawfulness" to government. "Just a glance at recent headlines should tell you this moment really is different", Mr Obama said. The former president said his presidency of eight years pulled the United States economy out of crisis. "It's not easy to tick me off", Cruz said in a 2016 clip aired by CNN . Read More »

#FuelWoes: Petrol crosses Rs. 80/liter in Delhi, diesel Rs. 72.51/liter

According to reports, the Centre imposes a total of Rs 15.33 per litre of the excise duty on diesel and Rs 19.48 on petrol. In Maximum City, the price of petrol inched closer to the Rs 90 mark. This is the biggest increase in rates in any fortnight since the daily price revision was introduced in mid June a year ago. The Centre now levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel. Read More »

Energy Price Cap Will Save 11m Households £1bn A Year, Watchdog Claims


ScottishPower customers are to benefit most from a new energy price cap which the regulator says will slash the utility bills of 11 million people UK-wide. Stephen Murray, energy expert at MoneySuperMarket, said households would be better off switching to save money than relying on the cap to give them a fair deal. Read More »

Korea Post turns to Goldman for crypto know-how


It was announced by Marty Chavez , the CFO of Goldman Sachs , Techcrunch reports . Chavez says the bank is working on a bitcoin derivative known as a "non-deliverable forward", because of demand from clients which the bank feels the need to satisfy. Read More »

Ford recalls 2m trucks to address seat-belt fire concerns


They will also modify the back interior panels of Regular Cab vehicles. In a statement Thursday , the NHTSA said that these auto owners "should watch for recall notifications from Ford Motor Co . 339,884 Ford trucks in Canada are relating to this concern. The reference number for the recall is 18S27. Canadian authorities contacted Ford last November about a fire near a pretensioner on a 2015 model, leading to a joint vehicle inspection, the news service added. Read More »

Ford's electric SUV will be modeled after the Mustang


Earlier this year, Ford revealed it'd be investing $11billion into electric vehicle development and even announced a new Mach 1 electric SUV - and today it gave us an interesting update on its progress of both. American auto giant Ford has got die-hard Mustang fans in a frenzy, with a new image of their first fully electric SUV unleashed onto the internet by their director of electric vehicle product development. Read More »

Will espresso-loving Italy embrace country's 1st Starbucks?


Instead, Muller said, Starbucks "wanted to come and bring a premium experience that is different to what people in Italy are used to". That formula includes "many different brewing techniques and a space where we want you to stay longer and relax and enjoy". Read More »

Apple says United States tariffs on China would hit 'wide range' of products

A "wide range" of Apple Inc ( AAPL .O) products including the Apple Watch would be affected by proposed US tariffs on Chinese goods, the company told USA trade officials, without mentioning any potential impact on its iPhone cash cow. In addition, proposed tariffs require time and effort to evaluate, Apple CEO Tim Cook said during the company's last earnings call. An Apple representative didn't have anything to add to the letter. Read More »

Trump poised to tax an additional $200bn Chinese imports


Earlier this year, the Trump administration imposed a package of tariffs on $50bn of incoming Chinese-made parts used for "aerospace, information and communication technology, and machinery". If the administration moved ahead, it would more than cover the entire value of goods imports from China, according to USA government data from a year ago. Read More »

Burberry no longer to burn unsold goods, use real fur in collections


The company said it had careful processes in place to minimise the amount of excess stock it produces. In effect, it was once again seeking to preserve its brand. He insisted: 'Modern luxury means being socially and environmentally responsible. Mr. Marco Gobbetti, who became CEO past year, vowed to overhaul company practices. Read More »

Canada's trade deficit shrinks in July


In seasonally adjusted terms, the surplus in July fell to $1.55 billion from $1.9 billion in June. Canada's surplus with the United States was offset by a $5.5 billion trade deficit with other countries, up from $4.8 billion in June. At the same time, higher fuels costs nudged up imports by 1 per cent to $34.6 billion. The figures released Wednesday in Ottawa are likely to play into the resumption of bilateral talks in Washington over the North American Free Trade Agreement. Read More »

Dollar, yen strengthen on lingering trade, emerging market worries


The dollar edged lower ahead of Friday's highly anticipated report for August and also came under pressure as investors anxious about trade tensions sought safety in Japan's yen and the Swiss franc. ENERGY: Benchmark U.S. crude added $1.34 to $71.14 a barrel on Tuesday. A JPMorgan emerging market currency index .MIEM00000CUS fell to its lowest since May 2017. Read More »

Asian friends pull off epic prank of Pearland McDonald's


His post showed photos of him and his friend, posing next to the poster featuring their faces. A media production major, Maravilla said he hoped this would add to the conversation of Asian representation in the media and said he'd love it if the restaurant left the poster up. Read More »

Obama: Trump Is 'a Symptom, Not the Cause'


Not follow them. We're supposed to stand up to discrimination, and we're sure as heck supposed to stand up clearly and unequivocally to Nazi sympathizers. "This is one of those pivotal moments when every one of us as citizens of the United States need to determine just who we are, what it is that we stand for", Obama told a mostly student audience of about 1,300 at the University of IL at Urbana-Champaign. Read More »

USA job growth surges; annual wage gain largest since 2009


Payrolls increased by 201,000 in August and the unemployment rate stayed at 3.9 percent. The country's jobless rate hit six per cent in August, up from its 5.8 per cent reading in July, said the agency's labour force survey. The United States and China have slapped retaliatory tariffs on a combined US$100 billion of products since early July. The government imposed import duties on goods including steel, aluminum, washing machines, lumber and solar panels early this year to protect USA ... Read More »

Fuel price hike: Petrol, diesel prices breach record levels on Friday


Similarly, petrol is being sold for ₹83.14 per litre in Chennai and the diesel retail price is ₹76.18 per litre. In Delhi, the petrol price rose to a record ₹79.99 a litre, while diesel price has been increased to ₹72.07 a litre, according to the daily price notification issued by OMCs. Read More »

Third rapid drop in 24hrs sends Bitcoin price down to $6400


Will other wall street banks also consider crypto offerings for their clients like Goldman Sachs? "In response to client interest in various digital products, we are exploring how best to serve them in the space", Goldman Sachs spokesman Michael DuVally told Barron's. Read More »

USA trade deficit surges, hits all-time highs with China and EU


The Trump administration may impose upward of 25 percent tariffs on an additional $200 billion worth of Chinese goods as early as this week. A widening trade deficit would drag on growth in the third quarter after a narrower gap - partly on higher soybean exports ahead of Chinese levies - helped boost the pace of expansion in the prior period to the fastest since 2014. Read More »