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Renault-Fiat Chrysler merger collapses

Reuters reported that France's government, a 15% shareholder, sought to delay a Renault board decision on the deal to consult further with the company's alliance partner Nissan Motor. A source with knowledge of the ongoing talks disputed the notion that Nissan posed a challenge for the deal. But at least for now, it appears that the French government went with the company it knows rather than the one it doesn't. Read More »

Markets surge after Fed signals rate-cut probability

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He said he's "comfortable" with current policy, but is concerned about weak inflation. In bonds, Germany's 10-year bond yield reached a record low and Italian debt held on to this week's gains as investors ramped up their bets on a generous loan package for banks in the euro zone as well as a US rate cut. Read More »

Ikea to roll out robotic furniture for tight living spaces

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A commercial launch is set for 2020, in densely populated Hong Kong and Japan to begin with, the company said. In a video, the ROGNAN pieces appear to be IKEA furniture on wheels that features lots of storage and can slide back and forth on tracks to hide/reveal a bed, desk, or open up a living room space. Read More »

Trump Warns: ‘Always a Chance’ of War with Iran

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If and when the time comes, Donald Trump is prepared for the " tremendous responsibility " of pressing the nuclear button, the U.S. president has said as Washington locks horns with a growing number of states. Abe told a news conference with Trump: "By closely cooperating between Japan and the United States, I would like to help ease the current tension surrounding the Iranian situation". Read More »

BMW Group And Jaguar Land Rover To Collaborate On EV Tech

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BMW , which once owned Land Rover , is now teaming up with Jaguar Land Rover (now owned by Tata) in an electric auto marriage aimed at mitigating the rising costs of shifting to zero emissions vehicles. The two partners will invest jointly in research and development, engineering and procurement with an aim to provide the necessary economies of scale to support increased consumer adoption of electric vehicles, it added. Read More »

Australia cuts rates to historic low as economy slows

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Australia's four major banks have scored $108.8 million by delaying the dates when their interest rate cuts go into effect. "We strongly believe reducing rates is the right thing to do by our customers and reflects our focus on earning trust in the community and rewarding our loyal existing customers", he said. Read More »

Fiat Chrysler says it has withdrawn offer to merge with France's Renault

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The prospect of new legal action backed by France marks a new headache for the former Renault CEO, who was also Nissan chairman in the alliance with the Japanese carmaker, after his arrest in Tokyo in November. Fiat Chrysler has withdrawn its $35 billion merger offer for Renault, the Wall Street Journal and Bloomberg News reported on Wednesday. The newswire pointed out that some analysts and French industry leaders had voiced doubts about the claimed five billion euros in cost and ... Read More »

General Motors set to test airless, puncture-proof tires on MI roads

The design was introduced this week at an event in Montreal and is being called the Uptis, which stands for Unique Puncture-proof Tire System. "UPTIS demonstrates that Michelin's vision for a future of sustainable mobility is clearly an achievable dream", says Florent Menegaux, Groupe Michelin CEO. Read More »

Oil Falls After Sharp Rise In Crude, Gasoline Inventories

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Oil prices edged higher on Monday after reassurances from top oil exporter Saudi Arabia offered some respite from last week's heavy losses as deepening USA trade wars fanned fears of a global economic slowdown. The Organization of the Petroleum Exporting Countries, Russia and oil exporting allies have reduced output by 1.2 million barrels per day since January 1 as part of the deal. Read More »

Turkey: Manufacturing index at 45.3 points in May

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Equivalent surveys for manufacturing and construction published earlier this week unexpectedly fell deep into contractionary territory, and taken together the three PMIs gave one of their weakest readings since 2012. Texas Permanent School Fund's holdings in IHS Markit were worth $3,845,000 at the end of the most recent quarter. Britain's services sector delivered a second consecutive month of growth in May, as new business increased for the first time in 2019. Read More »

Mexican president says "very optimistic" about reaching deal with USA on tariffs

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A USA administration official meanwhile confirmed that Vice President Mike Pence and Secretary of State Mike Pompeo would hold further talks with Ebrard Wednesday at the White House. Trump acknowledged. "We're doing all we can to reach a deal through dialogue", Lopez Obrador said. "We believe that these tariffs may not have to go into effect precisely because we have the Mexicans' attention", Navarro said. Read More »

Amazon delivering over 10mn items in a day in US

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As of June 3, Prime one-day delivery is available "coast to coast" with no minimum purchase required for Prime subscribers. "The most popular one-day items range from books, beauty and baby wipes to devices, dish detergent and doggie bags", the company said in a press release. Read More »

Global tech companies shun Huawei after US ban

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U.S. CHIPMAKERS: Intel Corp, Qualcomm Inc, Xilinx Inc and Broadcom Inc told their employees they will not supply critical software or components to Huawei until further notice, Bloomberg reported on May 19. China's reputation as a fair player isn't stellar; time and time again both Chinese firms and the Chinese state have been accused of IP theft and cybersecurity attacks against Western institutions. Read More »

Huawei refutes claims it scaled down phone production

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Chinese web portal Sohu reported on June 4 that Flex manufactures about 30 percent of Huawei smartphones, mainly at its factory in Zhuhai City, Guangdong Province. market for purportedly posing a national security risk. The Chinese government's move to announce its own blacklist is causing concerns among global ICT companies as a lot of them have ties with Chinese companies in terms of technology development, parts supply, and sales. Read More »

The United States Finally Takes on Big Tech

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Facebook's stock is plunging following a Wall Street Journal is report that the Federal Trade Commission will lead any antitrust investigation into the company as part of an arrangement that would give the Justice Department oversight of Google . Read More »

Kia gives a name to its new SA-bound compact SUV

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The Seltos name finds its roots in Greek mythology. Representing the courageous and assertive spirit of Celtos, the "S" in the vehicle's adapted name implies speed and sportiness . The central command centre is a 26.6cm touchscreen infotainment system that juts out above the dash, and Kia is promising that the cabin will be trimmed in "high-quality materials throughout", with numerous chic design details. Read More »

President Trump at Downing Street For Bilateral Talks

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The American president is scheduled to spend three days in the United Kingdom before traveling to Ireland and France as part of commemorations for the 75th anniversary of the D-Day invasion. Washington has pressured its allies around the world to bar Huawei from developing new 5G mobile networks over security concerns about Beijing's ability to exploit them for its own purposes. Read More »

Chinese travellers warned of crime and police harassment in US

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China's Position on the China-US Economic and Trade Consultations released by the State Council Information Office, offered China's most comprehensive response yet to US accusations since talks broke down last month and clearly draws China's bottom line for potential negotiations, analysts noted. Read More »

Justice department explores Google antitrust case

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The five FTC commissioners voted unanimously at the time against bringing charges against the company. One source says the investigation could focus on allegations that Google gave preference to its own businesses in its search engine. The FTC's plans for Amazon and the Justice Department's interest in Google are not immediately clear. A fresh investigation of Google by U.S. regulators could reopen old wounds. Read More »

China: Tesla's Model 3 factory ready for orders

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The halving of a federal tax incentive for Tesla purchases starting in January dragged on US demand in the quarter, and Tesla struggled to offset that drop by starting deliveries of the Model 3 in Europe and China. Tesla also announced on Thursday via Twitter that the Model 3 can now also be ordered in Australia, Hong Kong, Japan, New Zealand, Ireland and Macau. Read More »

Google network issue starts to impact Australia - Cloud - Networking

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Just after 4:30 p.m., Google said the issue was ongoing and that they were experiencing high levels of network congestion in the eastern USA, affecting multiple services in the Google Cloud , including YouTube and GSuite, which includes Gmail e-mail service, Google Drive, Google Hangouts, Google Calendar, and more, as well as YouTube. Read More »

US Holds CBD Hearing as Fans, Sellers Await Legal Clarity

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It often comes from a cannabis plant known as hemp , which is defined by the USA government as having less than 0.3% THC , the compound that causes marijuana's mind-altering effect. The hearing is meant to help the FDA draft regulations regarding CBD products or for ongress to pass additional legislation. The FDA has stated that the goal of the hearing is not to produce new policy or announce any decisions, but rather to serve as a platform for all parties to put forth their views. Read More »

China to probe FedEx after Huawei says parcels diverted

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The Chinese government is working to establish an "unreliable entity list" which would include foreign companies, individuals and organizations, according to a statement from Chinese Commerce Ministry. "Necessary measures will be taken" against those on the list, he said, adding that specifics would be released soon. Speaking about China's blacklist of companies, Gao Feng, the Commerce Ministry's spokesperson, said that the list will be aimed at companies that block supplies, and " take ... Read More »

Oil prices plunge amid Trump's tariff threat on Mexico

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President Trump claimed he would implement tariffs on Mexican imports of five per cent from June 10, increasing to 25 per cent from October, if the country did not stop illegal immigrants crossing into the US. -China trade war will weigh on economic growth in China and the rest of the world. Additional levies by Beijing on the majority of USA imports on a $60 billion target list are due to take effect on Saturday. Read More »

Winning $350 million jackpot ticket sold in North Carolina

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For the lowest prize of $2, players must match the Mega Ball number. The drawings are held at 10:59 p.m. The lucky victor walked off with the entire $ 50 million (approximately R729.2 million) jackpot amount - though the actual winnings were less as the victor needed to factor in federal and state-level tax obligations. Read More »

Mark Zuckerberg's security chief placed on leave after racism allegations

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Additionally, Booth allegedly made a remark about Chan's ethnicity when referencing her driving ability, and allegedly once claimed, "he "didn't trust black people". According to Business Insider , Bloom issued demand letters to a law firm representing the companies that oversee the Zuckerberg family's staff. The accusations have been outlined in a pair of letters sent to Zuckerberg's private estate by law company, The Bloom Firm . Read More »

Jaguar Land Rover develops 'sensory steering wheel'

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And the feature will be particularly useful during times of poor visibility, where drivers are struggling to see the road in heavy rain or fog. It's been applied to the gearshift paddles, to help signpost the swap from autonomous driving to human control, or as a less threatening way to pass on low-level notifications to the driver. Read More »

Tesla promotes lower priced China-made Model 3

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By building its cars locally, the automaker can avoid strict customs duties on imported vehicles. The starting prices for five different versions of China-made Model 3s range from 328,000 to 522,000 yuan. With a delivery launch in six to ten months, Tesla will nearly meet their own schedule. "The price drop makes Tesla more accessible", the company said in a Chinese-language statement. Read More »

Legal & General sells general insurance arm to Allianz for £242m

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The two deals will take the German firm's share of the market for general insurance in the U.K.to 9%, with about 4 billion pounds in gross written premiums. "We see this as a positive", KBW analyst Greig Paterson said in a note to clients. L&G said it expects the deal will strengthen its balance sheet, adding 2% to its Solvency II capital ratio. Read More »

UK House Prices Grow at a Surprising Rate in May

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That left the average United Kingdom house price in May at £214,946. In London, house prices are falling over Brexit uncertainty and some tax changes. According to today's study, it takes roughly 15 years for someone earning the typical wage in London to save for a 20 per cent deposit on their first home. Read More »

Google Could Be Facing a New Antitrust Investigation in the US

Elizabeth Warren of MA, for one, promoted a proposal that would impose rules on tech companies with $25 billion or more in annual ad revenue, forcing Amazon and Google to dramatically reduce their hold on online commerce. Spokespeople for Google didn't immediately respond to a request for comment from The Associated Press . Democratic presidential candidate Elizabeth Warren has argued that big firms such as Facebook , Google and Apple should be broken up through antitrust enforcement. Read More »