Finance

All Eyes on Uber's Second Day of Trading After Debut Flop

All Eyes on Uber's Second Day of Trading After Debut Flop Facebook debuted in 2012 and, after technical difficulties delayed its start to trading, it ended its first day just 23 cents above its IPO price of $38. That gave Uber a market value of $72 billion, almost $50 billion less than investment bankers had forecast when work on the IPO began. But Uber shares extended losses into the close, even as United States equities stabilised on renewed o... [Full Article...]

Dyson on track for first electric vehicle launch in 2021

Dyson on track for first electric vehicle launch in 2021 The patents also indicate Dyson is mulling a vehicle with larger wheels to improve efficiency. In an email sent to all his employers, founder James Dyson said that the electric auto is being kept secret until it is ready to be launched, and that the design "shows an androgynous vehicle and provides a glimpse of some of the inventive steps that we are considering". [Full Article...]

VW received 10,000 ID.3 orders in the first 24 hours

VW received 10,000 ID.3 orders in the first 24 hours This is the new VW ID.3 electric vehicle , the first of a new generation of bespoke Volkswagen EVs scheduled for series production, and therefore the first of the brand's new ID series. That gets a panoramic glass roof and an augmented reality head-up display. Volkswagen intends to sell only 30,000 copies of the ID.3 1ST edition (with a mid-range battery pack of 58 kWh and 420 km (261 miles) ... [Full Article...]

Amazon Echo Dot Kids illegally records conversations — FTC complaint

Amazon Echo Dot Kids illegally records conversations — FTC complaint That child's parent followed Amazon's process for requesting that information be deleted but later found the device still remembered the information. Alexa remembered and repeated the information, despite several attempts by an adult to delete or edit it. Using controls designed for parents, the investigators tried to delete transcripts of those and other conversations. [Full Article...]

OPEC’s April oil supply down to 30.23mbpd

OPEC’s April oil supply down to 30.23mbpd Both Sinopec and CNPC declined to comment. Brent oil dropped below $70 a barrel on Wednesday, hurt by concerns about a deepening US-Chinese trade row, although persistent supply worries prevented a steeper price fall. US Energy Secretary Rick Perry said on Tuesday that Saudi Arabia was increasing its oil production to meet needs arising from sanctions on Iran. Washington has also placed sancti... [Full Article...]

McDonald's bringing its biggest worldwide hits to the US

McDonald's bringing its biggest worldwide hits to the US [Full Article...]

Lyft hits record low as Uber slumps in Wall Street debut

Lyft hits record low as Uber slumps in Wall Street debut Uber Technologies Inc. raised $8.1 billion in its initial public offering after pricing shares near the bottom of their marketed range. San Francisco-based Uber sold 180 million shares for US$45 each Thursday, after marketing them for US$44 to US$50 apiece. [Full Article...]

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

Australia's interest rate held at 1.5 pct for 33rd month The news saw the Aussie dollar jump 0.7% back above 70 United States cents around 70.40 USA cents. ANZ Head of Australian Economics David Plank tells Ross Greenwood the RBA needs to cut interest rates to improve the economy. For Australian dollar bulls, thank goodness, then, that the Reserve Bank of Australia has seen fit to trample on market expectations for an imminent interest-rate cut - ex... [Full Article...]

GM, union reach deal to rescue part of Ontario plant

GM, union reach deal to rescue part of Ontario plant President and Managing Director, Travis Hester says 55-acres at the Oshawa plant will also be converted into a test track for autonomous vehicles. "We are in a much better position than we were five months ago when the plant was closing", said Jerry Dias, Unifor National President. [Full Article...]

Trade deal was close, but China tried to renegotiate

Trade deal was close, but China tried to renegotiate We can't have that. "It will also invite China to hit back at American businesses, farmers, communities, and families", said Kip Eideberg, vice-president of government affairs for the Association of Equipment Manufacturers, which represents more than 1,000 U.S. [Full Article...]

Canadian Ethics Committee subpoenas Mark Zuckerberg and Sheryl Sandberg

Canadian Ethics Committee subpoenas Mark Zuckerberg and Sheryl Sandberg In a statement, Facebook said breaking up a successful company won't enforce accountability, and instead repeated calls for new regulations, which Zuckerberg argued for in his own opinion piece in the Washington Post in March. Hughes joins USA lawmakers who have also urged anti-trust action to break up big tech companies as well as federal privacy regulation. The hearing will probe the ... [Full Article...]

EU Commission trims growth forecast amid concerns about risks to Irish economy

EU Commission trims growth forecast amid concerns about risks to Irish economy In 2020, GDP growth is expected to slow further to 2.8%. At the same time the share of public debt in GDP could be reduced from last year's 74.6% to 70.9% in 2019 and to 67.6% in 2020. "This, together with rising wages, muted inflation, favorable financing conditions and supportive fiscal measures in some member states, is expected to buoy domestic demand", it said. [Full Article...]

GM autonomous unit Cruise valued at $19 bln in funding round

GM autonomous unit Cruise valued at $19 bln in funding round Developing and deploying self-driving vehicles at massive scale is the engineering challenge of our generation. When SoftBank made its investment previous year, it bought a 20% stake in Cruise for $2.25 billion. Ford is investing $900 million in its southeast MI footprint as part of an $11.1 billion investment in global electric vehicles. Cruise's main competition is Waymo , which past year h... [Full Article...]

Berkshire Hathaway gives Buffett's successors spotlight in annual meeting

Berkshire Hathaway gives Buffett's successors spotlight in annual meeting Speaking on CNBC , the Berkshire Hathaway investor said that, "I was pleased with what they reported". The company reported first-quarter earnings of $21.7bn (£16.5bn) on Saturday, a marked improvement on last year's first-quarter loss of $1.1bn. [Full Article...]

GM in talks to sell Lordstown plant to EV startup Workhorse

GM in talks to sell Lordstown plant to EV startup Workhorse In the meantime, the company has developed a name-and a revenue stream-converting delivery vans to electric power. "We've been told since the beginning that they can't do anything like this, can't sell the plant, close it", Davis said. DeWine said that was "certainly good news" for the three cities. The DMAX plant in Moraine is expanding diesel engine production for GM's all-new heavy-duty pic... [Full Article...]

Trump the brilliant businessman was always a myth

Trump the brilliant businessman was always a myth The investments that contributed to Trump's losses include a $346 million purchase of an airline shuttle, Eastern Airlines, which never turned a profit, and his Trump Taj Mahal and Casino, which reportedly did not generate enough revenue to cover its $800 million in debt. [Full Article...]

First Game Launched By Apple After 11 Years Featuring Warren Buffet

First Game Launched By Apple After 11 Years Featuring Warren Buffet Buffett also said, a full-scale trade war "would be bad for everything Berkshire owns". Berkshire ended March with $191.8 billion of equity investments. However, I look to see what modifications they made."Again in 2017, Weschler and Combs informed Yahoo Finance's Serwer that they spend most of their days studying, which is crucial for professionals within the enterprise of shopping for firms". [Full Article...]

Tencent's New 'PUBG' Lookalike Is a Peace Offering to China's Game Regulators

Tencent's New 'PUBG' Lookalike Is a Peace Offering to China's Game Regulators PubG was developed in South Korea but Tencent had licensed the game and was testing a mobile app version in China. Often likened to the blockbuster book and film series "The Hunger Games", PUBG pits marooned characters against one another in a virtual fight to the death, and has become one of the world's most popular mobile games. [Full Article...]

Hackers stole $41M of bitcoin on one of world’s largest crypto exchanges

Hackers stole $41M of bitcoin on one of world’s largest crypto exchanges In that incident, 7,000 BTC were moved out of a Binance hot wallet in July 2018, after which Binance reportedly had to undergo "unplanned maintenance". Sorry, folks, you ain't getting any money in or out of Binance for at least a week. That alarmed several Twitter users, who sent a message to CEO Changpeng Zhao, wondering if the exchange had been hacked. [Full Article...]

Uber And Lyft Drivers Are Striking - And Call On Passengers To Boycott

Uber And Lyft Drivers Are Striking - And Call On Passengers To Boycott When companies go public, it usually means big money for executives, and sometimes nice payouts for employees. But the IPO won't be life-changing for most drivers, whom Uber insists are independent contractors, not employees. Arun Sundararajan, a professor at New York University's Stern School of Business, told CNN Business that the strikes will be an interesting test of the strength of dr... [Full Article...]


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