Saturday, 20 October 2018
Latest news
Home » Economy

Economy

Facebook Facial Recognition Class-Action Lawsuit Could Cost Them 'Billions'

perth_map

The feature which is not available to users in most countries, can be turned off in settings for users in the United States. Facebook has been under intense scrutiny over fake news being delivered through the platform and the allegations that data analytics and political consulting firm Cambridge Analytica mined the data of 80 million users without consent. Read More »

Exit of WPP advertising guru Sir Martin Sorrell shrouded in secrecy

perth_map

He denies the allegations but, in a letter to WPP officials posted late Saturday, states that "the current turmoil" puts the business on "excessively unnecessary tensions". The marketing services industries are being buffeted by accelerating trends such as zero-based budgeting, which has led to many consumer-facing companies abandoning increases in marketing spending. Read More »

Allegiant Air Safety Called Into Question

perth_map

Following a seven-month investigation, the CBS program said Federal Aviation Administration reports showed that Allegiant airplanes are "nearly three and a half times more likely to have serious in-flight mechanical failures than other U.S. Read More »

'Mission Accomplished' in Syria, Trump declares on Twitter

perth_map

Truman aircraft carrier and a group of ships accompanying it will be stationed in the Mediterranean starting on Wednesday . At a House Armed Services Committee hearing on the Pentagon's 2019 budget request, Mattis said that because the USA had no one at the site of the suspected chemical attack in Syria last Saturday, the US has no hard evidence of what happened. Read More »

UK Takeover panel sets Disney/Sky conditions

perth_map

The UK Takeover Panel said Disney must offer Sky shareholders £10.75 a share if competition authorities block Fox's takeover of the 61 per cent of Sky it does not already own. Disney argued that owning Sky was not a major driver of its overall Fox deal - which includes buying Hollywood studio 20th Century Fox - and so that rule should not apply. Read More »

British Airways owner IAG weighs takeover offer for Norwegian Air

perth_map

As a result, the stock price of Norwegian surged to over 40 percent on Thursday, after a rough year of decline following stockholders concerns about the profitability, the level of debt and expansion rate of the carrier. Highlighting the hard state of Norwegian's finances, the airline last month raised $168 million in a share sale after warning of a larger than expected first-quarter loss. Read More »

Volkswagen contemplates shakeup; Matthias Mueller's future uncertain

perth_map

Volkswagen said, on the basis of these considerations, the Chairman of the Supervisory Board is now in discussions with certain members of the Supervisory Board and of the Board of Management. Sources close to the board have told Reuters Mueller has become frustrated with the lack of support for his plans to reform the company. Volkswagen could look to split into four sections - a mass-market carmaker including its VW, Seat and Skoda brands; a premium business consisting of Bentley and ... Read More »

Oil hits $70 per barrel as China offers soothing words on trade

perth_map

Brent crude futures were up 39 cents on the day at $67.50 a barrel by 0912 GMT. Platts reported that the recent widening of the spread between Brent and WTI crude benchmarks, combined with spring refinery maintenance in the US Gulf, has helped increased US crude exports to Europe in April, pressuring an already well-supplied sweet crude market, traders said. Read More »

Wall Street defends key line of defense amid Trump-China trade war

perth_map

Pledges on autos and IP were accompanied by a promise to push through reforms in the financial services industry, which would open up to more foreign participation - reforms first announced past year. Xi's choice of vehicles as a specific product class was telling as a message to Trump; the US president used precisely the example of Chinese tariffs on cars in voicing his grievances about Chinese trade practices. Read More »

'Nanny state full of PC snowflakes' - Sugar tax sparks anger

perth_map

Today, the UK's tax on sugary drinks came into effect as part of the government's flagship anti-obesity policy. The Mexican Senate approved a 1 Mexican peso ($0.08) per litre tax on sodas in 2013, despite a media campaign by soda companies who said the tax would increase joblessness in the sugar cane industry. Read More »

US Adds 103000 Jobs in March, Below Forecasts

perth_map

The labour force participation rate, or the proportion of working-age Americans who have a job or are looking for one, slipped one-tenth of a percentage point to 62.9 per cent in March after rising to a five-month high of 63.0 per cent in February. Read More »

Mark Zuckerberg will testify before Congress next week

perth_map

The announcement comes ahead of CEO Mark Zuckerberg's widely anticipated testimony before Congress next week. Zuckerberg's comments signal that Facebook users in the USA may soon have less control over their personal data than European users. Read More »

Spotify in successful but unusual market debut

perth_map

Share prices dropped as the day went on, ending at $149.01. At $26.5bn at the end of the first trading day, Spotify ranks in the top 10 largest United States tech listings. However, Sony acknowledged in the notice to shareholders on Wednesday, given that the market value of Spotify's stock following the IPO "may be volatile", the value could fluctuate "during the period that SME continues to hold the shares". Read More »

No mousing around as Disney offers to take Sky News

perth_map

Fox, which now owns 39% of Sky, in December 2016 launched a bid to take full control of the British company. Rupert Murdoch ratcheted up the pressure on Britain to approve his $15 billion-plus bid for pay-TV group Sky by offering to sell or legally separate Sky News, aiming to head off objections the deal could give him too much political influence. Read More »

Police Department to crack down on distracted driving in April

perth_map

April had the third highest number of distracted driving crashes in 2017, followed by March and October, respectively. This year, they plan to do the same. The annual Traffic Safety Culture Index survey by the AAA Foundation for Traffic Safety shows that 88 percent of drivers believe distracted driving is on the rise. Read More »

Trump hits Amazon yet again Monday

perth_map

Beech Hill Advisors Inc. decreased its position in Amazon .com, Inc. Investors may be getting ready to review the most recent company earnings reports . Shares of Amazon .com, Inc., ( NASDAQ: AMZN ) exhibits a change of 1.11% to $1447.34 on Thursday . It has outperformed by 65.23% the S&P500. Morgan Stanley maintained Amazon .com, Inc. Read More »

Widow of Pulse nightclub gunman, found not guilty

perth_map

Noor Salman was found not guilty of charges of obstruction and providing material support to a terrorist organization . Defense attorneys said the Federal Bureau of Investigation coerced Salman's statement and she signed it because she was exhausted after extensive questioning and feared losing her young son. Read More »

Barclays To Pay $2 Bln To Settle US Mortgage Securities Suit

perth_map

Two former Barclays executives, Paul Menefee and John Carroll, who worked on the RMBS deals paid a combined $2 million in exchange for claims against them being dismissed, the Justice Department said. British bank Barclays became the latest big bank to reach a multi-billion dollar settlement with USA authorities over its role in the subprime mortgage bubble and subsequent financial crisis. Read More »