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ZTE replaces entire executive team to comply with technology ban deal


The Journal reported that the swift change indicates ZTE is hurrying to meet requirements laid out by the U.S. Commerce Department as part of a deal to allow the Chinese phone-maker to do business in the United States again. It also agreed to replace its board, remove all members of its leadership at or above senior vice president level along with any executives associated with the wrongdoing, and punish responsible executives. Read More »

Netflix is testing some new plans. Here's what they do


Netflix has confirmed the Ultra tests, but noted that only select customers will see the additional option. The purported new Ultra subscription would cost $17 per month, up from the $14 per month that the current Premium plan offers, but knocks HDR away from Premium and leaves it to Ultra. Read More »

Canada's Trade Deficit Widened in May


Analysts in a Reuters poll had predicted a shortfall of $2.05-billion. Economists surveyed by Bloomberg News had anticipated the trade deficit would widen to $2.2 billion, from $1.9 billion in April. Exports slipped by 0.1 percent as shipments of motor vehicle and parts fell by 3.6 percent amid a disruption in the supply of auto parts from a plant in the United States. Read More »

United States jobs report shows higher unemployment rate, more jobs than forecast


The Labor Department has said that apart from the additional 213,000 jobs in June, another 37,000 extra jobs were created in April and May, which was again more than the estimates. Black unemployment rose to 6.5 percent from a record low of 5.9 percent; the Hispanic rate fell to a record low of 4. 6 percent . Economists expect inflation will hover around its target because of labor market tightness. Read More »

Wage gains slow, unemployment up from 18-year low

The unemployment rate ticked up to 4% from 3.8%, but this was because more people entered the labour force looking for work. The economy has now been adding jobs for almost 8 years. Average hourly earnings rose 2.7 percent year over year, slightly below expectations of a 2.8 percent increase. Expressed another way, the monthly average jobs jump in first-half of 2018 has been +17% compared with the first-half of 2017. Read More »

Another strong jobs report - here’s why unemployment jumped

May's job gains were also revised up to 244,000 from 223,000, and job gains have now averaged 211,000 per month over the last three months. Gross domestic product growth estimates for the April-June period are as high as a 5 percent annualized rate, more than double the 2.0 percent pace logged in the first quarter. Read More »

Sonos files for initial public offering


The company says it has registered over 19 million devices since it was founded in 2002. During its full 2017 fiscal year, which ended September 30, Sonos recorded a net loss of $14.2 million on revenue of $992.5 million. Its products are being integrated in Apple's new AirPlay 2 wireless music-streaming system and Google's Assistant. With Alexa-powered Sonos speakers, customers can use voice commands to play music and operate other smart devices. Read More »

'Please stop' tweeting about oil, Iran tells Trump


OPEC members agreed June 23 to increase crude oil output by pumping 1 million barrels more daily, but it is still unclear how much of the oil produced would ease off prices in a period-the northern hemisphere's summer-generally associated with high oil demand. Read More »

China Says U.S. Has Started ‘Biggest Trade War’ in History


But Trump has said his administration will respond to retaliation from Beijing with much bigger waves of tariffs , raising the prospect of worsening tit-for-tat reprisals. The products, all sold on Chinese e-commerce platforms, ranged from pet food to mixed nuts and whiskey. "Manufacturers in the United States succeed when the rules are clear and fair and markets are open". Read More »

Micron receives Chinese ban, sees 1 pct impact on quarterly revenue


The Chinese court ruled Tuesday that Micron violated UMC's patent rights. Micron , according to reports , has not been served with the injunction. Other chipmakers also gained. If the ban is enacted, Micron's competitors, including Samsung, SK Hynix, WDC, Intel, Toshiba and the new entrant YMTC would be benefited. Read More »

U.S. tariffs take effect; China announces retaliation


The White House previously described the situation as a "trade dispute" that's justified because of China's own aggressive trade practices and alleged theft of American intellectual property - claims Chinese officials have denied. That would bring the total of targeted Chinese goods to potentially $550bn - more than the $506bn in goods that China shipped to the United States past year. Read More »

Montreal unemployment rate drops to lowest level since December

Not all of those who re-entered the market were able to find jobs, which contributed to the uptick in the unemployment rate. The job numbers for the month of June indicate USA manufacturing continues to gain momentum. Over the past three months, the economy has produced a robust average monthly job gain of 211,000. In Ontario, employment rose by 35,000 in June, bringing year-over-year gains to 157,000. Read More »

Likely impact of US-China trade war: Prices up, growth down


Chinese President Xi Jinping (left) and US President Donald Trump in Florida past year. The first round of these tariffs were due to take affect at 4pm NZT. The dispute reflects foreign frustration with China's state-led industrial development strategy, which Washington , Europe, Japan and other trading partners say hurt their companies and violate its market-opening commitments. Read More »

Elon Musk Sends Engineers From His Boring Company To Help Cave Rescue


If the rains do arrive, authorities might decide keeping them in the cave until the monsoon eases, possibly in October, is preferable to risking a journey in the jagged, muddy cave system where they've been stranded the past 13 days. The missing team members who had been missing since last month were found by a pair of British cave divers late Monday. Some of the kids have also indicated they can not swim and are already weak from not eating. Read More »

Business hiring forges ahead in June, with 213,000 jobs added

But steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases. The unemployment rate rose to 4.0 per cent from an 18-year low of 3.8 per cent in June as more people entered the labour force in a sign of confidence in the jobs market. Read More »

Remainder of whiskey warehouse collapses in Kentucky


Half of a seven-storey rackhouse at the Barton 1792 Distillery in Bardstown, Kentucky, collapsed on Wednesday, after the first half toppled on June 22, the Kentucky Standard reported. The company credited the distillery team's "preparation and quick action", and notified state government environmental regulators "immediately." the statement said. Read More »

Singapore says Uber may have to unwind merger with Grab


Uber sold its South-east Asian business to bigger regional rival Grab in March in exchange for a stake in the Singapore-based firm, marking the U.S. firm's second-biggest retreat from an Asian market. CCCS also said remedial measures could include a sale by Grab of its leasing unit. Some analysts said unwinding could take different forms. The CCCS said the firms completed the deal and began the transfer of the acquired assets immediately, despite their own view that the outcome would be ... Read More »

Tesla Model 3 Ready To Take Over Europe


Hitting the 5,000 mark "was not easy but it was definitely worth it", the statement said. Tesla Model S frames are shown in the assembly area at the Tesla factory in Fremont, Calif., on June 22, 2012. "I don't believe their goal was to simply hit 5,000 a week and somehow revert to a lower production rate in the future", Albertine said. Long-term Tesla bulls have held out hope that good things will happen once the company sustainably achieves big-time production scale. Read More »

Boeing takes 80% control of Brazil aircraft maker Embraer


Boeing Co . will take over the $4.75 billion commercial aircraft arm of Brazilian plane-maker Embraer SA as part of a new company to be controlled by the US firm, the companies said on Thursday. Upon finalization, the joint venture will be led by Brazil-based management who will report to Muilenburg, and Boeing will have operational and management control of the new company. Read More »

Baidu unveils AI chip for self-driving autos in Japan


After building the 100 Apolong vehicle at its factory this week, the company is now preparing to deploy them in China and, eventually, other countries. Baidu plans to launch the autonomous bus service in several Chinese cities including Beijing, Shenzhen, Pingtan and Wuhan. "They will help with shuttle services around nuclear power stations and senior communities in Japan", for example, said Li. Read More »

Canada presses US to resume NAFTA renegotiation talks


As President Trump continues to place tariffs on steel and aluminum imports, the Canadian Department of Finance is retaliating with tariffs that will reportedly effect $12.6 billion worth of US exports. "I think he is going to be a better negotiator because of this", Gomez said. The start time was also pushed back to make it more cocktail party than picnic, said Sarah Goldfeder, a principal at Earnscliffe in Ottawa and former special assistant to two US ambassadors. Read More »

Major Chinese banks ditching United States dollar to prop up domestic currency


Traders said statements from the PBOC officials went some way towards calming the market. Despite that, Yi said financial risks were under control and the China's worldwide balance of payments and currency flows were stable. The mood was more cheerful in Europe where a pan-European equity index rose 1 percent, the euro firmed and bond yields climbed after German Chancellor Angela Merkel struck a migration deal with her Bavarian conservative coalition partners. Read More »

Iran to Trump: Your tweets are driving up oil prices


Meanwhile, Saudi Arabia as well as the UAE are professing to increase production to offset production losses in Libya , Venezuela , and soon Iran. However, at its June meeting, OPEC agreed to slightly increase oil production. Recent price rises have also been spurred by a USA announcement that it plans to re-introduce sanctions against Iran from November, which will also target its oil industry. Read More »

Coinbase launches cryptocurrency cold-storage and custodial service for businesses


Today's launch means that institutions from both the U.S. and Europe can now store their crypto assets with Coinbase Custody , which currently supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). There is a setup fee of $100,000, as well as 10 basis points fee charged monthly. Coinbase has been one busy cryptocurrency exchange lately. They have over 20 million users, and they're making a huge push to bring in some of the financial world's heaviest hitters ... Read More »

Trump administration seeks to block China Mobile in the US


The advisory body, the National Telecommunications and Information Administration , is part of the Department of Commerce. China Mobile, a Chinese government-owned company, has been blocked from operating in the USA by a telecoms policy advisory body to President Trump. Read More »

MSP for paddy hiked by Rs. 200


WITH THE 2019 general elections round the corner, the Cabinet Wednesday approved the highest absolute hike ever in the Minimum Support Price (MSP) for paddy, and a significant hike for other Kharif crops. Paddy is the main kharif crop, the sowing of which has already begun with the onset of the southwest monsoon. To announce the substantial hike in MSP, Singh was flanked by three senior Cabinet colleagues at the media briefing - Union Minister for Agriculture and Farmer Welfare Radha ... Read More »

Woman devours 37 hot dogs to win Independence Day eating contest


Winner Miki Sudo (C) competes in the women's annual Nathan's Hot Dog Eating Contest on July 4, 2018 in the Coney Island neighborhood of the Brooklyn borough of New York City. She also said she dips the hot dog bun in hot tea before eating it so she can eat it as fast as possible. Joey Chestnut is undefeated! According to Major League Eating , the body that oversees professional eating contests, Chestnut once ate almost 13 pounds of deep-fried asparagus in 10 minutes and 55 glazed ... Read More »

EU 'possibly as bad as China' on trade


Donohue said in a news release. Chamber of Commerce (. pdf ), 579,300 are supported by worldwide trade and approximately 6,160 companies export goods from locations in the state. The EU sent comments to the US on whether auto imports pose enough of a threat to USA national security to justify tariffs and estimating the economic impact. Read More »

Hyundai group poised to take over Fiat Chrysler Automobiles?


We don't know about you but it sure sounds like FCA may end up becoming Hyundai's proxy for the U.S. market. Now, according to a report from Asia News , Hyundai Motor Group CEO Chung Mong-Koo is watching FCA's share price ticker with an expected downturn in value to trigger a bid within 12 months. Read More »

US Begins Lifting Ban On ZTE; Allows Company To Temporarily Resume Business


Commerce Department's Bureau of Industry and Services runs from July 2 until August 1. At that point, ZTE is "expected to be in compliance with US demands". His move to do this has sparked heavy backlash from lawmakers on both sides of the aisle. In April, the Commerce Department banned the sale of crucial USA components to the company after finding it had repeatedly lied and failed to take action against employees responsible for sanctions violations. Read More »