Finance

American Airlines Descends on 737 Max Fallout

American Airlines Descends on 737 Max Fallout American canceled about 1,200 flights in the first quarter after authorities worldwide grounded the 737 MAX in mid-March in the wake of the crash of an Ethiopian Airlines plane, the second deadly crash in five months. Before making that decision, Chief Executive Doug Parker said he told regulators that he needed 95 percent certainty that passengers could actually fly on MAX tickets that the airlin... [Full Article...]

Tesla CEO Elon Musk Strikes Deal With US Market Regulators Over Tweets

Tesla CEO Elon Musk Strikes Deal With US Market Regulators Over Tweets After two profitable quarters, its first in many a moon, Tesla posted a US$702 million ($984 million) loss during the first quarter of 2019. Musk's lawyer did not immediately return a request for comment. In a settlement on Friday Mr Musk agreed to "obtain the pre-approval of an experienced securities lawyer" before making statements on topics including previously unpublished production number... [Full Article...]

Walmart to explore options for Asda, including IPO

Walmart to explore options for Asda, including IPO Tesco has 27.4%. Sainsbury's and Asda argued that their share of the total market for food was smaller than the data indicated because of the emergence of new players like delivery services, but the regulator was not persuaded. Walmart International CEO Judith McKenna said she was disappointed but will focus on positioning ASDA as "a strong United Kingdom retailer delivering for customers". [Full Article...]

Netflix adds 9.6M subscribers in 1Q as competition heats up

Netflix adds 9.6M subscribers in 1Q as competition heats up A new survey by Streaming Observer suggests they should be. Disney said the service's $7 a month (or $70 a year) price tag is meant to make the service "accessible to as many consumers as possible". That gives Disney a foot in the door to potentially win over Netflix customers with a more affordable service. Apple hasn't disclosed the pricing of its service, which will include programs featuri... [Full Article...]

Amazon's Alexa reviewers reportedly have access to customer home addresses

Amazon's Alexa reviewers reportedly have access to customer home addresses Some team members can discover the geographic coordinates of an Alexa user; with that information, the data can be typed into a third party mapping application to discover the home address of that user. Because Audible has been owned by Amazon since 2008, users have been able to control their book playback with their voice or directly through the Alexa app for years. [Full Article...]

China will keep Belt and Road sustainable, clean and green: Xi Jinping

China will keep Belt and Road sustainable, clean and green: Xi Jinping Nonetheless, Altmaier said Germany, France, Spain and the United Kingdom had shown at the Belt and Road Forum in Beijing on Friday that the European Union was "in its great majority" united in its belief that "we can only implement our positions together". [Full Article...]

Scandinavian Airlines Pilot Strike Strands 72,000 Passengers

Scandinavian Airlines Pilot Strike Strands 72,000 Passengers SAS is the leading airline in Scandinavia , operating a third of all flights to and from the region. SAS spokeswoman Freja Annamatz said negotiations were still ongoing. "Flights operated by SAS Ireland and airlines that are subcontractors of SAS will not be affected", the airline added. It is now in the middle of renewing its aging plane fleet and faces rising competition from budget carrier... [Full Article...]

America's GDP beats forecasts with 3.2% growth

America's GDP beats forecasts with 3.2% growth Still, the GDP gain surpassed the 3% bar set by President Trump as evidence his economic program is working. "We think it will, but it's not a silver lining". In March, the Fed had indicated that it did not plan to raise interest rates - which now stand between 2.25% and 2.5% - for the rest of 2019. Data this week showed world trade volumes falling the most since 2009 in the three months throu... [Full Article...]

Occidental entering market for Anadarko

Occidental entering market for Anadarko The bidding war underlines the frenzy among oil companies to grab the hottest drilling properties in America's shale oil boom . The surging Permian has catapulted the United States beyond Russian Federation and Saudi Arabia as the world's leading oil producer. [Full Article...]

LG Electronics to stop smartphone production in Korea

LG Electronics to stop smartphone production in Korea The South Korean electronics and phone company is relocating their mobile production facility in South Korea for the year, and focusing instead on one of its plants in Haiphong, Vietnam , according to Reuters and first reported by South Korean news outlet Yonhap News Agency. [Full Article...]

Uber gears up for $90bn IPO

Uber gears up for $90bn IPO Uber said earlier this month that it may never make a profit. Uber could aim to raise about $8 billion to $10 billion in the listing, though the final details of the pricing may still change, the people said. In an amended regulatory filing with the Securities and Exchange Commission, Uber set the range of its offering of between $44 and $50 per share, below a previously reported range of $48-$5... [Full Article...]

Canadian privacy watchdog blasts Facebook for ‘abdicating responsibility’ for user data

Canadian privacy watchdog blasts Facebook for ‘abdicating responsibility’ for user data According to the CBC , Therrien and his counterpart in British Columbia, Michael McEvoy, say Facebook broke several laws . His office does not have the ability to levy fines or order companies to produce evidence, unlike other privacy watchdogs around the world. [Full Article...]

Are Investors Unfairly Punishing Tesla, Inc. (TSLA)?

Are Investors Unfairly Punishing Tesla, Inc. (TSLA)? The price target set for the stock is $323.82. However, it represents stronger momentum in the market. By contrast a stock moves lower than the market, the stock's beta is less than 1.0. "The demand story at Tesla is quickly changing and the company has unfortunately not adjusted to an evolving [electric vehicle] landscape (especially in the US) with the well thought out marketing and distribu... [Full Article...]

Not Home? Amazon Will Garage Your Packages

Not Home? Amazon Will Garage Your Packages Customers who already have a myQ-connected garage door opener can link their account in the Amazon Key app . The myQ Smart Garage Hub is available right now for $49.99 (37.5 percent off), or you can get the Hub and an Amazon Cloud Cam (Key Edition ) for $124.99 (37.5 percent off). [Full Article...]

Waymo plans final assembly on self-driving cars in Detroit

Waymo plans final assembly on self-driving cars in Detroit Waymo CEO John Krafcik said his company will form partnership with American Axle & Manufacturing to lease and repurpose an existing facility on the latter's campus to produce autonomous vehicles. American Axle last made automotive axles at the plant in 2012 when it moved production to Mexico, but the company's business operations recently moved into the administrative portion of the building, fre... [Full Article...]

Carlos Ghosn posts bail again after rearrest in Japan

Carlos Ghosn posts bail again after rearrest in Japan Ghosn has earlier been granted bail once on a $9 million security and vow not to leave Japan as well as to live in a small court-appointed apartment in central Tokyo . Ghosn's lawyers on Monday filed the bail request after the former executive was indicted for aggravated breach of trust, accused of enriching himself at a cost of $5 million to Nissan from July 2017 through July 2018. [Full Article...]

Apple spent over $30 mn on Amazon Cloud in Q1 2019

Apple spent over $30 mn on Amazon Cloud in Q1 2019 As Apple looks to expand its services business to make up for lost iPhone sales , new information has revealed that the company is spending more than $30m a month on Amazon's cloud service AWS . They compete directly on smart speakers and on tablets. Apple announced this service along with a credit card and its news services, in an attempt to shift from hardware products to services. [Full Article...]

Wall Street edges lower, energy stocks fall

Wall Street edges lower, energy stocks fall Coca-Cola, United Technologies , Twitter, Hasbro and Lockheed Martin all delivered earnings beats, sending the S&P up 0.9% to north of 2,934 and the Nasdaq up 1.4% to 8,123. The planemaker scrapped its 2019 outlook and reported quarterly revenue below estimates due to grounding of its 737 MAX jets. EBay Inc shares jumped 3.8% after the company raised its full-year sales and profit forecasts. [Full Article...]

Harley-Davidson beats analyst estimates despite tariffs

Harley-Davidson beats analyst estimates despite tariffs His latest comments, meanwhile, appeared to be more sympathetic to the motorcycle company. In August, he said he'd support a boycott of the company's bikes. Trump's post was an about-face from last June, when he accused Harley of using tariffs as an excuse to ship American jobs overseas. "US will soon have a level playing field, or better". [Full Article...]

Walgreens ups tobacco buying age to 21 amid FDA crackdown

Walgreens ups tobacco buying age to 21 amid FDA crackdown The agency said that of the more than 6,000 Walgreens locations it inspected, about 22 percent were found illegally selling tobacco products to minors. Walgreens is taking steps to keep tobacco out of the hands of young people. In a statement, the company said the policy is its most recent steps in an effort to further prevent the youth from accessing tobacco products. [Full Article...]


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