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Uber Is Going Public & You Can Invest for $45 per Share

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Uber's IPO came against a backdrop of turbulent financial markets, fueled by the trade dispute between the United States and China, as well as the plunging share price of its US rival Lyft Inc. Nelson Chai, the company's chief financial officer who was at the NYSE to mark the first day of the stock's trading, said in a CNBC interview that he was not focused on one day of trading and was more concerned about the company's long-term outlook. Read More »

Australia's interest rate held at 1.5 pct for 33rd month

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Reserve Bank governor Philip Lowe. Further, consumption was curbed by protracted period of low income growth and declining housing prices. The strong employment growth has led to some pick-up in wage growth. In its concluding remarks, the RBA said it would be "paying close attention to developments in the labour market at its upcoming meetings". Prior to the meeting rate cut forecasts came from quite a few groups - The ANZ Capital Economics, Nomura, Macquarie, TD Securities, Market ... Read More »

Mukesh Ambani's RIL buys out British toy-maker Hamleys for £68 million

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The deal will give the Indian acquirer complete control of Hamleys retail operations spread over 167 stores across 18 countries. C Banner wrote off $49.8 million in goodwill and brand value related to Hamleys, its annual report showed. Reliance Retail has the licence to sell Hamleys products in India. For the fiscal 2018-19, Reliance Retail reported a revenue of Rs 1.30 lakh crore - an 88.68 per cent growth which is the highest by any retailer in the country. Read More »

GM to transform Oshawa plant into stamping operation

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At a press conference Wednesday, Unifor national president Jerry Dias acknowledged that the agreement wasn't entirely ideal but said saving the plant and hundreds of jobs there "gives us the ability to build and create new jobs in the future". Read More »

Facebook Co-Founder: 'It's Time to Break Up Facebook'

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Citing the developer's inability or unwillingness to be more active in stopping the spread of misinformation, hate speech and calls for violence, Hughes says Facebook can not be allowed to continue operating in its current fashion. He also wants Congress to create a new agency to regulate technology in addition to the FTC. In a statement, Nick Clegg, Facebook's VP of Global Affairs and Communication, said "Facebook accepts that with success comes accountability". Read More »

FTC divided on Facebook fines

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Eyes are on the Federal Trade Commission as it also considers a rare action holding CEO Mark Zuckerberg personally accountable for Facebook's failure to honor a 2011 agreement over privacy lapses. "The FTC must set a resounding precedent that is heard by Facebook and any other tech company that disregards the law in a rapacious quest for growth". Read More »

Latvian GDP growth to "moderate", says European Commission

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The recent slowdown in global growth and world trade, together with high uncertainty about trade policies, is weighing on prospects for GDP growth in 2019 and 2020. The EC estimates that inflation could be 1% this year, down from 1.6% in 2018 and that it would accelerate in 2020 to 1.2% despite the reduction in the general Value-Added Tax rate by 1 percentage point at the beginning of the year. Read More »

Warren Buffett hits out at 'dishonest' private equity

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But, he added, he suspected voting to leave the bloc was "a mistake". He added, however, that Brexit "doesn't destroy my appetite in the least for making a very large acquisition in the United Kingdom". Berkshire wrote off 2.7 billion U.S. dollars from its stake in Kraft Heinz in February, in light of the latter disclosing a massive 15.4-billion-dollar write-down related to an investigation by the U.S. Read More »

Under pressure from Trump, GM in talks to sell idled OH plant

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GM Chief Executive Mary Barra said Workhorse "could help preserve Lordstown's more than 50-year tradition of vehicle assembly work". Notably, the company's first products were based on a GM chassis. Workhorse reported that its first quarter sales for this year were at $364,000, down from $560,000 for the quarter in 2018. GM said the 450 jobs would be added at plants in Toledo, the Cleveland suburb of Parma and the Dayton suburb of Moraine. Read More »

Warren Buffett and Apple Team-up For New Game

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He was known to hold paper-toss competitions at shareholder meetings for Berkshire Hathaway. Warren Buffett's Paper Wizard is similar to the classic Paperboy game. To get high scores in this game, your delivery skills should be excellent. Buffett said Investors are often buying into an IPO because of the hype involved with them and because they want to catch up with others getting rich and that's not a sound basis for an investment, CNBC explained. Read More »

China's Tencent drops hugely popular combat game PUBG

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The crackdown shaved around $250 billion off the company's stock market value by late a year ago, though shares have largely recovered as some game approvals subsequently resumed. According to Reuters , Tencent described Game for Peace as a tactical shooting game that "pays tribute to the blue sky warriors that guard our country's airspace", in reference to the Chinese air force. Read More »

Uber, Lyft drivers on global strike just before Uber's IPO

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The New York City Taxi Workers Alliance said its members voted not to drive for Uber or Lyft between 7am and 9am on Wednesday. But that number is certainly in dispute: According to an analysis from the think tank Economic Policy Institute, the actual wage drivers take home is much less . Read More »

Lyft posts $1B loss after IPO but revenue beats

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Rideshare Drivers United chapters in LA, San Diego, and Georgia will be joined by the New York Taxi Workers Alliance , Gig Workers Rising in San Fransisco, Boston Independent Drivers Guild, and other groups representing Connecticut, Washington, D.C., Chicago, and Philly in turning off their apps en masse and refusing to subsidise the platform's bosses. Read More »

China's backtracking on trade commitments triggered USA tariff hike

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The higher tariffs are scheduled to take effect at 12:01 a.m. EDT (0401 GMT) on Friday, a spokesman for the U.S. Trade Representative's office said . "The courts are controlled by the Communist Party, so the law is only actually applied with the party's say-so", he explained . The United States accuses Beijing of pressing foreign companies to hand over technology in exchange for market access, improperly subsidizing Chinese firms and stealing American trade secrets. Read More »

The 'One Ring' phone scam you should know about

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People throughout the USA have been receiving "One Ring" or " Wangiri " robocalls in bursts, according to officials. "They may call repeatedly, hoping the consumer calls back and runs up a toll that is largely paid to the scammer". These charges may show up on your bill as premium services. Baton Rouge, Louisiana; Worcester, Massachusetts; Roanoke, Virginia; and Dallas, Texas, have also seen high numbers of spam calls, according to Hiya. Read More »

What one can expect from Google I/O conference 2019?

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The camera will also come equipped with features like Portrait Mode, Motion Auto Focus, accompanied by unlimited Google Photos storage. So, if you are a Google and Android fan here's some of the updates we are expecting to see revealed later today. Read More »

US Works To Ensure Alternative Oil Supply To India

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President Donald Trump withdrew from the 2015 nuclear accord with world powers previous year. With frustration mounting in Iran over the lack of dividends from the nuclear accord, the semi-official ISNA news agency said that President Hassan Rouhani would announce "retaliatory measures" on Wednesday to mark the anniversary of the United States pullout. Read More »

Microsoft Fluid Framework Is Coming After Google Docs

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Users can pick from Unrestricted, Balanced or Strict privacy settings, which adjusts how they can be tracked across the web. Enabling content, e.g., from the web or productivity apps, to be deconstructed and reconstructed into modular components so people can more easily create together. Read More »

National Nurses Week Honors Those That Serve Others

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You can receive 10% off the purchase price of essential oils at Nature's Gift by providing a valid copy of your nursing license. The week, which always concludes on Florence Nightingale's birthdate, recognizes the changes that have taken place since Ms. Read More »

Trump threatens to increase China tariffs

US President Donald Trump announced Sunday that the United States would raise tariffs on $200 billion of Chinese goods to 25% this week, because trade talks are moving "too slowly". Mr Trump's latest move will raise duties on more than 5,000 products made by Chinese producers, ranging from chemicals to textiles and consumer goods. Read More »

Sinclair Broadcasting Wins Disney RSNs In $10B

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Sinclair Broadcast Group Inc, the largest USA broadcast station owner, has reached a deal valued at more than $10 billion to buy 21 regional sports networks from Walt Disney Co , the Wall Street Journal reported on Thursday. "We are pleased to have reached this agreement with Sinclair for the sale of these 21 RSNs, subject to the conditions of the consent decree with the U.S. Read More »

USA jobless rate at a 49-year low

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The unemployment rate is at its lowest level in 50 years since December 1969, CNN reports . "It's only natural that when the overall direction of economic policy favors more freedom, the economy grows", said John Tamny, director of the Center for Economic Freedom at free-market grassroots group FreedomWorks. Read More »

Trump suddenly says he’ll raise China tariffs before talks this week

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Fears about a further escalation caused a slump in world stock markets towards the end of past year. "In equities, this means downside risks". U.S. President Donald Trump on Sunday threatened to increase tariffs on US$200-billion in Chinese goods on Friday and impose levies on hundreds of billions of dollars of additional imports "shortly", a move that appeared to be aimed at forcing China to agree to a final trade deal as soon as this week. Read More »

Warren Buffett's Berkshire Hathaway invests in Amazon for the first time

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Two years ago he told investors that the stock "always looked expensive and I didn't think he [Bezos] would be where he is today". "It's just fantastic what they've accomplished", said Buffett, who is known as the "Oracle of Omaha ". "I hope [Buffett] lives forever, but that's probably not a good bet". Buffett, whose 54-year investment career has made him one of the richest men in the world, has previously hailed Amazon founder Jeff Bezos and last year Berkshire announced a joint ... Read More »

HSBC beats estimates with 31% Q1 profit rise as costs decline

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John Flint, group chief executive, said: "These are an encouraging set of results, particularly in the context of heightened economic uncertainty globally". Adjusted operating expenses rose 3.2 percent in the quarter, compared with a 5.6 percent increase in the same period past year. The London-based bank elevated Flint last year to replace Stuart Gulliver, bringing to an end a seven-year term marked by asset sales, job cuts and a pivot toward Asia. Read More »

Sinclair to buy regional Fox Sports networks for $9.6B

The deal includes local TV rights to 42 professional teams - 14 Major League Baseball teams, 16 National Basketball Association (NBA) teams and 12 National Hockey League (NHL) teams. Last summer, the U.S. Justice Department demanded that Disney sell the regional sports networks as a condition of its takeover of Fox . The Fox Business Network reported last week that Disney had a " handshake" deal to sell the networks to Sinclair. Read More »

Tesla comes to investors for money

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The $1.8 billion junk bond maturing in 2025, which rose 1.8% Thursday to a high of 87 cents on the dollar, was last at 86.5 cents. "I don't think raising capital should be a substitute for making the company operate more effectively", he said ". Read More »

Tyson recalls 12M pounds of chicken strips after metal found in poultry

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The frozen, ready-to-eat chicken strip items were produced on various dates from October 1, 2018 through March 8, 2019 and have "Use By Dates" of October 1, 2019 through March 7, 2020. It is unacceptable to Tyson Foods that any product might not meet our standards. Six complaints, resulting in 3 oral injuries have been documented according to CBS News. Read More »

Microsoft rolls out new cloud services for AI and blockchain

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New MLOPs improvements with Azure DevOps integration to help developers better reproduce, audit, and automate the end-to-end machine learning lifecycle. "IoT Plug and Play will offer customers a large ecosystem of partner-certified devices that can connect quickly". As the partnership continues, the two firms aim to create solutions that involve enterprise, developer, and vendor needs by using Azure to create blockchain applications. Read More »