Business

Business Powerball jackpot grows to $550 million
Author: 0 Powerball jackpot grows to $550 million

One ticket from New Jersey and one from Pennsylvania matched the five white balls but not the Powerball to win $1 million, according to a lottery press release . It is the eighth largest jackpot in Powerball history. Powerball also features prizes ranging from $4 to $1 million. There are other ways to win.

Business Google fined $1.7 billion for search ad blocks in third European Union sanction
Author: 0 Google fined $1.7 billion for search ad blocks in third European Union sanction

The Commission also discovered clauses that required publishers to obtain approval from Google if they wished to change how ads from the search company's competitors were displayed on their website. Google has been hit with a €1.49bn (£1.28bn) fine for abusing its dominant online advertising market position. Google, of course, is also appealing the previous ruling, just as the European Commission is rumored to hand Google a new fine soon.

Business SEC says Musk defense 'borders on the ridiculous'
Author: 0 SEC says Musk defense 'borders on the ridiculous'

That order stems from a settlement reached between the SEC and Tesla in September over Musk's now-infamous " funding secured " tweet past year in which he said he was prepared to take the company private at $US420 per share. [The SEC] dismissed Mr Musk's argument that he could decide which tweets about Tesla required preapproval by an in-house lawyer at the carmaker, arguing that he had a "demonstrated inability to discern potential materiality".

Business RCom jumps after Mukesh Ambani bails out brother Anil on Ericsson dues
Author: 0 RCom jumps after Mukesh Ambani bails out brother Anil on Ericsson dues

The requisite payment of Rs 550 crore and interest thereon to Ericsson has been completed today in compliance of the judgment of the Supreme Court . RCom has struggled for cash partly a result of a price war triggered by the market entrance of Reliance Jio Infocomm, popularly called Jio. This was after the Supreme Court last month found billionaire businessman guilty of contempt on a plea filed by Ericsson India.

Business IEA Reveals a Big Surprise for Oil Bulls
Author: 0 IEA Reveals a Big Surprise for Oil Bulls

Goldman said , "current fundamentals will tighten physical markets further", driving up spot Brent crude futures above 70 dollars per barrel "as supply losses continue (and) demand growth beats low consensus expectations". IEA President Fatih Birol, whose remarks were included in the report, said that there might be extraordinary changes in the global oil industry in the future and that the US would continue to influence the global oil market over this five-year period.

Business Pi Day offers discounted pizza and more
Author: 0 Pi Day offers discounted pizza and more

The chain's Pi Day deal has a limit of one $3.14 pizza per customer. Taste this delicious duo for just $10 at locations in NY, D.C., Toronto, Los Angeles and Las Vegas. Villa Italian Kitchen: Get full-size Neapolitan Cheese Pizzas for $3.14 Thursday with a coupon . Cici's - For those dining in, who bring a coupon available online , you can get an adult buffet for $3.14 with the purchase of an adult buffet and large drink.

Business Amid turmoil, Facebook chief product officer quits
Author: 0 Amid turmoil, Facebook chief product officer quits

Chief Product Officer Chris Cox and WhatsApp Vice President Chris Daniels are departing amid Facebook's push to rebuild Facebook with stronger privacy in mind. "But after 2016, we both realized we had too much important work to do to improve our products for society, and he stayed to help us work through these issues and help us chart a course for our family of apps going forward", Zuckerberg wrote.

Business S&P and Nasdaq higher, Dow lower
Author: 0 S&P and Nasdaq higher, Dow lower

A boost was also imminent from the tech giants after Nvidia made announcements about buying Mellanox Technologies for $6.8 billion. " Boeing without any question is going to be the theme for the Dow index, given its enormous weighting, but I don't see a spillover to any other indexes except airlines", said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.

Business Tesla officially unveils the Model Y
Author: 0 Tesla officially unveils the Model Y

We're assuming this is for the long-range model, which will be available first. The heavier Model Y , however, will have less range because of its increased weight and size. It has a panoramic glass roof keeping it in common with the Model 3, adding to the feeling of space. That plan - later scrapped - ushered in a period of turmoil at the company, from Musk's public battles with regulators, a flurry of securities lawsuits, cost cutting and layoffs.

Business Kelowna flights impacted by grounding of Boeing 737 MAX 8 planes
Author: 0 Kelowna flights impacted by grounding of Boeing 737 MAX 8 planes

Boeing doesn't fly commercially out of Windsor, but its aircraft are regular visitors to the Rose City. Ethiopian Airlines was not immediately available for comment. Another Max 8 plunged into the Java Sea minutes after taking off from an Indonesian airport in October, killing all 189 on board. More than 40 countries, including the USA, have now grounded the planes or refused to let them into their airspace.

Business The US imports and exports substantial volumes of petroleum
Author: 0 The US imports and exports substantial volumes of petroleum

Oil futures steadied on Tuesday on signs that OPEC plans to maintain production cuts despite pressure from U.S. President, whose comment criticizing rising crude prices sent the market into a tailspin a day earlier. The price of futures contracts of WTI crude oil went up by 0.58% to $58.6 per barrel, TASS reported. For 2020, the government said it expected U.S.

Business Boeing Has Grounded All Boeing 737 Max Planes Worldwide Over Safety Fears
Author: 0 Boeing Has Grounded All Boeing 737 Max Planes Worldwide Over Safety Fears

The airport says from six to 10 of the Max 8 planes fly from Tampa each day. Fiji Airways is the only other operator that will be affected by CASA's temporary suspension. Southwest and American Airlines are still flying the Boeing 737 Max 8. "It would have been nice just to be aware of it, that this was the plane that was actually involved in the crash and that there's a software issue or whatever is wrong with it", he says.

Business NVIDIA buys high-performance chip-maker Mellanox for $6.9 billion
Author: 0 NVIDIA buys high-performance chip-maker Mellanox for $6.9 billion

And Shebly Seyrafi, an analyst at FBN Securities, agrees that the unit will provide broad solution sets to overcome bottlenecks in the data-center market. The deal is the largest in Nvidia's history. Meanwhile Eyal Waldman, founder and CEO of Mellanox talked about how the two companies share the same vision.

Business Nissan Says To Stop Producing Infiniti Cars In UK
Author: 0 Nissan Says To Stop Producing Infiniti Cars In UK

A Government spokesperson told This is Money: 'As Infiniti has said, this is a global commercial decision to withdraw from Western Europe to focus on Infiniti's growth market in North America and China. It will shift its focus to North America and China, and continue its smaller operations in Eastern Europe, the Middle East, and Asia. Diesels are being discontinued, but gasoline engines are still very much a part of powertrain plans for the future, including Nissan's innovative ...

Business Tesla to rise price of its cars and keep more stores open
Author: 0 Tesla to rise price of its cars and keep more stores open

At the end of a year ago, the company had almost 400 showrooms across the country, but has closed about 10 percent of those with the worst performance. Tesla wants to increase its vehicle transportation capacity and cut delivery times. Lawyers for Tesla chief Elon Musk on Monday argued that U.S.

Business Turbulence injures 30 on flight from Istanbul to New York
Author: 0 Turbulence injures 30 on flight from Istanbul to New York

The 10 passengers sent to a local hospital included a child and one with a possible broken leg, he said. Turkish Airlines officials in a statement early Sunday confirmed the flight carrying 326 passengers and 18 crew members "encountered an unusual turbulence about 40 minutes before landing" in NY.

Business Northeast BC unemployment rises to 6% in February
Author: 0 Northeast BC unemployment rises to 6% in February

Combined with the 67,000 jobs added in January , the February data marks the best two-month stretch since 2012. National employment in this industry rose by 6.8% year over year, up by 97,000 jobs. For Canada as a whole, the jobless rate stayed at 5.8 per cent, after the addition of 56,000 jobs. The economy added 46,200 services sector jobs and 9,500 goods producing jobs.

Business Norway’s $1 trillion fund to dump oil and gas shares
Author: 0 Norway’s $1 trillion fund to dump oil and gas shares

Although the decision focuses on upstream oil and gas companies, not large integrated groups such as BP and Shell, shares in some of the world's largest oil companies fell in reaction to the news . "They take on much bigger investments than renewable companies do". The review suggests the fund could become more proactive in engaging with those oil and gas giants that are pivoting investments towards renewables and other low-carbon activities.

Business US presidential candidate Warren says to break up big tech companies
Author: 0 US presidential candidate Warren says to break up big tech companies

Warren proposes legislation that would define companies offering online marketplaces as public utilities if their annual global revenue exceeds $25 billion (€22 billion). "You have a presidential candidate coming out and saying that we need to break up Facebook, Google, and Amazon, and putting out detailed thoughts on it", said Matt Stoller, policy director at the Open Markets Institute, a group pushing for aggressive antitrust action.

Business Tesla enters into agreement with Chinese lenders for Gigafactory
Author: 0 Tesla enters into agreement with Chinese lenders for Gigafactory

The shares fell 21 percent in NY on Wednesday, after rising 62 percent through Tuesday since the firm's initial public offering in September past year. But the company said it experienced a "greater than anticipated slowdown" in sales in the first two months of this year to around 2,600 units. Ground-breaking work on the Shanghai gigafactory started in January and Mr Musk has said he wants the plant to begin production.

Business European Central Bank changes course on stimulus
Author: 0 European Central Bank changes course on stimulus

This combined with dovish tone displayed by European Central Bank during their press conference post interest rate decision released yesterday resulted in sellers gaining control of price action in the broad market. As reported by Reuters, the new loans will carry a floating rate tied to the ECB's main refinancing operation, now set at zero. The purchases were a way of pushing newly created money into the economy to raise inflation from dangerously weak levels and support a recovery from the ...

Business China Says Working With U.S On Trade Deal
Author: 0 China Says Working With U.S On Trade Deal

USA stocks dropped with the dollar on Friday, after a report showed that US hiring unexpectedly tumbled in February with the economy adding just 20,000 jobs. While China runs the risk of Xi leaving a summit empty-handed if details are not nailed down, Branstad said that U.S. officials want there to be some flexibility.

Business Job Growth slows in the U.S., unemployment rate steady
Author: 0 Job Growth slows in the U.S., unemployment rate steady

I also predict that earnings will post a 5-cent increase, for a 3.2 percent year-over-year gain. Federal Reserve policymakers have indicated this year they won't raise interest rates again until seeing inflation advance. But the unemployment rate fell to 3.8 percent from January's 4 percent, and earnings growth picked up. "The disappointing print followed an impressive gain in January (upwardly revised to 311K), putting the three-month average at 186K.

Business Dollar Tree to close almost 400 Family Dollar stores nationwide
Author: 0 Dollar Tree to close almost 400 Family Dollar stores nationwide

Approximately 200 Family Dollar stores will be re-bannered to Dollar Tree. In a call with analysts Wednesday, Dollar Tree's CEO Gary Philbin said since buying Family Dollar for over $9 billion in 2015, Dollar Tree has worked to "stabilize the business" and eliminate redundancies in the two companies.

Business Charlotte Russe Shuts Down Website, Plans To Close All Stores
Author: 0 Charlotte Russe Shuts Down Website, Plans To Close All Stores

Other brands, including most recently Family Dollar, have been able to stay afloat, but are paring down locations . Sears, which also owns Kmart, has been teetering the edge of liquidation for months now. A spokesperson for the retailer confirmed it plans to liquidate. It appears a deal has not been made for a buyer to take over the company's assets at this time, so a liquidation sale is now underway.

Business Tesla blames misprinted label for China customs hiccup
Author: 0 Tesla blames misprinted label for China customs hiccup

A parking lot of Tesla Model 3 electric vehicles is seen in Richmond, Calif., on June 22, 2018. In its Q4 Update letter , Tesla said that "In January 2019, we started to produce Model 3 vehicles for Europe and China, and the auto is now fully certified for sale in these markets".

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