Finance

Amazon planning to launch 3,236 satellites to provide internet connectivity

Amazon planning to launch 3,236 satellites to provide internet connectivity Elon Musk's Space Exploration Technologies Corp. and OneWeb Satellites are also racing to expand coverage to about 4 billion people on Earth who lack reliable internet access as the world becomes more interconnected. Elon Musk's SpaceX launched two test satellites for its " Starlink " network past year, the first step toward its goal of a constellation of 4,425 satellites. [Full Article...]

Divorce makes Bezos' ex-wife world's 3rd richest woman

Divorce makes Bezos' ex-wife world's 3rd richest woman After months of speculation surrounding the future of Amazon and the personal valuation of Bezos, the ex-couple revealed on Twitter how their stock is being divided. 'In all our work together, MacKenzie's abilities have been on full display. They are asking for joint custody of their two children and neither is asking for child or spousal support, Page Six has confirmed. [Full Article...]

Supreme Court quashes RBI directive on resolving bad debt

Supreme Court quashes RBI directive on resolving bad debt As expected, Das said that the RBI will come out with a revised circular without "undue delay". "The verdict along with recent CCEA and union power and commerce ministries' notifications implementing the recommendations of the empowered committee will provide the much- needed respite to all the affected parties and alleviate their stress", Khurana said. [Full Article...]

Target raises hourly minimum wage to $13, further topping Walmart's $11

Target raises hourly minimum wage to $13, further topping Walmart's $11 And in January, competing chain Walmart said it would lift the starting wage to $11 from $9, as it reaped the benefits of the tax reform law that cut down corporate rates. The company says its goal is to hit $15 an hour by the end of next year. "We hired over 120,000 seasonal team members in the fourth quarter, and I know there were some questions about, could we do that, and we did", Cornell to... [Full Article...]

Ford Puma Small Crossover Previewed Ahead Of 2019 Release

Ford Puma Small Crossover Previewed Ahead Of 2019 Release Rated in scale of power, the Kuga 1.5 diesel is good for 88kW, matched in output by its 1.5-litre petrol sibling, which is also available in a 110kW version. Selectable driving modes are standard across the range, as is Ford Co-Pilot360, 4G wifi for up to ten mobile devices (subject to subscription), and an 8-inch touchscreen for all except the entry-level S trim. [Full Article...]

Trump to Pick Former Presidential Candidate Herman Cain for Fed Seat

Trump to Pick Former Presidential Candidate Herman Cain for Fed Seat In Cain and Moore, Trump would place two political loyalists on the board of a central bank that has frequently crossed him. Trump, meanwhile, has continued to rail against the Fed, even as he has said he will nominate conservative commentator Stephen Moore , a proponent of rate cuts, for a second vacant seat on the Fed Board. [Full Article...]

RBI Cuts Repo Rate By 25 BPS To 6% | India Development Debate

RBI Cuts Repo Rate By 25 BPS To 6% | India Development Debate Global economic activity has been seen further losing its pace since the last MPC meeting in February 2019, when the RBI announced cut for the first time since August 2018. The MPC headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around noon on Thursday. The Reserve Bank Wednesday cut the retail inflation forecast to 2.9-3 percent for the first half of cu... [Full Article...]

Saudi Aramco IPO Unlikely Despite Big Profits

Saudi Aramco IPO Unlikely Despite Big Profits Moody's Investors Service said Aramco posted a net profit of $111.1 billion in 2018 - far higher than the combined net earnings of the five worldwide oil majors - and generated $359.9 billion in revenues. "There's no telling... exactly what kind of demands this king as well as his son might make on the company later on which may have impact on its core profitability", she added. [Full Article...]

Bitcoin Back to Life? Digital Currency's Price Briefly Hits $5,000 Mark

Bitcoin Back to Life? Digital Currency's Price Briefly Hits $5,000 Mark In response to the Bitcoin surge other cyber currencies increased in value. By late morning, it had settled at around $4,700, still up 15 percent in its biggest one-day gain since April previous year. Its total market capitalisation now stands at $86.6 billion, which represent 50.7% of the total value of all digital currencies. Disclosure: The author holds BTC, LTC, ETH, ZEC, ZIL, AST, REQ, OM... [Full Article...]

Govt, Labour to hold more talks on Brexit

Govt, Labour to hold more talks on Brexit The vote passed by just one - 313 votes in favor and 312 against - in the lower House of Commons and the bill will now pass to the upper House of Lords for final approval on Thursday. Asked if May had accepted his preference for a post-Brexit customs union with the EU, he said: "We did have a discussion about all of that". The DUP's 10 MPs voted against the bill, along with 290 Conservative MPs,... [Full Article...]

Tokyo prosecutors rearrest Carlos Ghosn on new financial misconduct allegations

Tokyo prosecutors rearrest Carlos Ghosn on new financial misconduct allegations Prosecutors arrest Ghosn for suspicion of aggravated breach of trust, NHK said. The arrest, he said, was "part of an attempt by some individuals at Nissan to silence me by misleading the prosecutors ". Under Ghosn's management, Nissan recovered and formed a three-way alliance with Renault and Mitsubishi Motors that has become one of the world's top-selling auto groups. [Full Article...]

Jeff Bezos' ex-wife cedes control of Amazon in divorce deal

Jeff Bezos' ex-wife cedes control of Amazon in divorce deal Mackenzie Bezos tweeted on Thursday that she is giving her ex-husband Jeff 75% of their Amazon stake and all of its voting rights. In addition, MacKenzie is granting Jeff her full interest in the Washington Post , which Jeff Bezos bought in 2013 , and space-aeronautics company Blue Origin, according to a tweet she posted Thursday. [Full Article...]

The best deals you can score on National Burrito Day

The best deals you can score on National Burrito Day Chuy's - You won't be able to score a free burrito or save any money here, but each "Big As Yo Face" burrito Chuy's sells on National Burrito Day will net a $1 donation to St. National Burrito Day will be no different. Burrito Elito members who buy either a burrito or burrito bowl on April 4 will reward their future selves with a free burrito or burrito bowl between April 5 and 12. [Full Article...]

RBI's repo rate cut to boost home sales

Dholakia, Michael Debabrata Patra and Shaktikanta Das voted in favour of the decision while Chetan Ghate and Viral V. Acharya voted to keep the policy rate unchanged. "You can't operate such a large economy on the basis of data, which nobody knows is correct or not", Rajan had said in a recent interview with Moneycontrol . [Full Article...]

Elon Musk Just Released a Rap Song About Harambe the Gorilla

Elon Musk Just Released a Rap Song About Harambe the Gorilla USA stock market regulators are accusing Musk of improperly tweeting about Tesla's manufacturing volume in February when he predicted that the company would make about 500,000 cars this year. Of course, Tesla is playing it as something of a positive. "There's slowing demand for the Model 3 and there's nothing else immediately in the pipeline". [Full Article...]

Nissan's ex-chair Ghosn wants separate trial from automaker

Nissan's ex-chair Ghosn wants separate trial from automaker Nissan is also included in the indictment for making false disclosures in annual securities reports, for which the company has expressed regret. Renault has established it paid out millions of euros described as dealer incentives to Omani distributor Suhail Bahwan Automobiles (SBA) over five years from around 2011, said the sources, who were briefed on the findings. [Full Article...]

Kellogg Agrees $1.3 Billion Cookie Sale With Nutella-Maker Ferrero

Kellogg Agrees $1.3 Billion Cookie Sale With Nutella-Maker Ferrero The acquisition by Ferrero - best known for its Nutella spread, Tic Tac breath mints and Ferrero Rocher sweets - is the latest push by the company to expand its US footprint. Ferrero , the Italian maker of Nutella spread, has been on an acquisition spree. Kellogg is getting out of the cookie business to focus on snacks and cereal. [Full Article...]

White House softens tone after threat to close border with Mexico

White House softens tone after threat to close border with Mexico Kudlow told CNBC that the Trump administration was exploring whether it could permit trucks carrying freight to cross the border if it is sealed. Trump praised efforts by Mexico to hinder illegal immigration from Central America at its own southern border . Much of the rest of the harnesses arrive at the US-Mexican border from countries south of Mexico. [Full Article...]

Manufacturing returns to growth

Manufacturing returns to growth Similarly, the Caixin PMI also showed the manufacturing sector returning to growth on Monday. The ISM (Institute for Supply Management) released PMI data yesterday that showed that manufacturing activity in the USA has made a sharp recovery in March after falling to a two-year low in February. [Full Article...]

Oil hits 2019 high as supply squeeze looms

Oil hits 2019 high as supply squeeze looms U.S. West Texas Intermediate (WTI) futures were up 68 cents, or 1.13 per cent, at $60.82 by 1125 GMT, after briefly reaching their highest in more than four months at $60.90. "Production cuts from the OPEC+ group of producers have been the main reason for the dramatic recovery since the 38% price slump seen during the final quarter of a year ago", said Ole Hansen, Head of Commodity Strategy at S... [Full Article...]


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