Money

Facebook backs down after multiple lawsuits charged it with discriminating in ads

Facebook backs down after multiple lawsuits charged it with discriminating in ads

Civil rights advocates have warned for years that Facebook's ads violated antidiscrimination laws, because advertisers were able to use that data to exclude specific groups of people. "We are pleased Facebook has agreed to take meaningful steps to ensure that discriminatory advertising practices are not given new life in the digital era, and we expect other tech companies to follow Facebook's lead". Read More

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Trump to GM: Reopen Ohio plant, close one in Mexico or China

Trump to GM: Reopen Ohio plant, close one in Mexico or China

On Sunday night, he disclosed in a tweet that he had vented his frustrations during a conversation with the company's CEO, Mary Barra . "I am not happy that it is closed when everything else in our Country is BOOMING", Trump said. "Come on down and have a look". Ohio Gov. Mike DeWine, a Republican, last week expressed doubts GM will reopen its Lordstown plant, but he said the automaker indicated it's in talks with another company about using the site. Read More

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Tesla reverses after Model Y event

Tesla reverses after Model Y event

As far as Tesla's fundamental ability to produce the vehicle, it seems like that could have been possible. To paraphrase Tolstoy, profitable automakers are all alike; every unprofitable automaker is unprofitable in its own way. The Model Y units which are destined for China are expected to be built at a Giga factory in Shanghai which is now under construction. But last week, Tesla reversed course and said it would leave many stores open and raised prices back by about 3 per cent. Read More

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Facebook blames app outage on a technical error

Facebook blames app outage on a technical error

As of Thursday morning, the only good news for Facebook is that plunging stock price appeared to have found a floor. And by 4pm, the shares dropped to 1.85 per cent. 'Yesterday, a server configuration issue made it hard for people to access our apps and services. The problems began yesterday (Wednesday 13 March), with almost all of Facebook's services, including mobile apps and even the Oculus Store, experiencing partial or full outages. Read More

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European Central Bank cuts growth, inflation forecasts

European Central Bank cuts growth, inflation forecasts

Draghi cited "factors. mostly of external source", including "the threat of protectionism" and "geopolitical considerations", and analysts pointed out that the eurozone was in a precarious position. The movement follows the news that the USA trade deficit widened to a 10-year high in 2018, despite President Trump's efforts to narrow it. The announcement comes only three months after the end of the ECB's unprecedented €2.6 trillion bond-buying programme. Read More

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Nio abandons plans for factory in Shanghai

Nio abandons plans for factory in Shanghai

The company unveiled the long-awaited $35,000 version of the Model 3 on February 28 and said the same day it will close most of its stores and shift sales online. Retail sales of sedans, sport utility vehicles, multi-purpose vehicles and minivans fell 18.5% to 1.19 million units last month, according to the China Passenger Car Association Friday. Read More

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U.S. trade deficit surges to 10-year high in 2018

U.S. trade deficit surges to 10-year high in 2018

He's wrong about trade deficits reflecting weakness. There is strong likelihood the ongoing trade talks with China will fail to attain any of the main objectives sought by the Trump administration. Beijing is also resisting US demands to change industrial policies, said Willy Lam, a political analyst at the Chinese University of Hong Kong. He has picked trade wars the world over, with friends and foes alike. Read More

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Huawei sues U.S. government over equipment ban

Huawei sues U.S. government over equipment ban

Huawei said it hopes the USA removes this section so it can work with the US and President Donald Trump . In doing so, the US Congress has acted as judge, jury, and executioner , without even taking the company to court, Huawei says. In other words, Huawei devices can be used for espionage. She was arrested by Canada at the request of the US, where she is wanted on fraud charges for allegedly misleading banks about the company's dealings with Iran . Read More

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Tesla's new Supercharger V3 cuts charge times in half

Tesla's new Supercharger V3 cuts charge times in half

The new system it calls V3 Supercharging will enable fastest charging on the market, according to Tesla . V3 is a completely new architecture for Supercharging . 145 kW is the charging rate of a current shared pair of Tesla's Superchargers, so the fix seems to be a simple software unlocking of the max speed of a single vehicle charging on a shared pair. Read More

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Victoria's Secret: Stores Closing Amid Poor Holiday Sales

Victoria's Secret: Stores Closing Amid Poor Holiday Sales

Victoria's Secret relied on heavy promotions to draw customers to its stores during the holidays - the types of discounts that generally hurt margins. The Nielsen Company said the show has lost more than half its television audience in two years, the Associated Press previously reported. "The market may conclude the Victoria's Secret situation is getting worse". Read More

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Fed settles for big balance-sheet future

Fed settles for big balance-sheet future

The central bank boosted its holdings by more than four-fold in the wake of the 2008 financial crisis and subsequent recession, in an effort to lower long-term interest rates as it looked for unconventional ways to boost economic growth. But many private economists believe the central bank may keep rates unchanged all year, reflecting expectations that the economy will slow significantly. Read More

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Tesla Model 3 loses Consumer Reports recommendation

Tesla Model 3 loses Consumer Reports recommendation

The latest vehicle to lose that CR designation: the Model 3 , which, despite getting a big thumbs-up from consumers in terms of owner satisfaction, and from CR in its road tests, fared poorly in the group's annual reliability survey. The magazine's decision to withdraw its endorsement, less than nine months after recommending the electric sedan, raised questions about quality that Tesla has faced since the Model 3's hard launch. Read More

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United Kingdom 'doesn't need to ban' Huawei 5G kit

United Kingdom 'doesn't need to ban' Huawei 5G kit

Whatever risk Huawei's work on national 5G infrastructure may bring, it can be managed and mitigated, the UK's top security body has said. One source told the Financial Times the NCSC findings, which are yet to be made public, would "carry great weight" among European leaders, as Huawei's future there is debated. Read More

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Donald Trump urges Venezuela military to back Guaido

Donald Trump urges Venezuela military to back Guaido

Trump has officially recognized him as Venezuela's temporary leader, but Maduro still controls the military and is using it to cling to power. Donald Trump will speak on Monday in the largest Venezuelan community in the United States, seeking to rally support for the opposition leader, Juan Guaidó, and saying the South American country's "current path toward democracy is irreversible". Read More

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US, China seek deal to prevent trade war escalation

US, China seek deal to prevent trade war escalation

Expectations for a trade deal have grown as China faces pressure from slowing economic growth, and swooning global markets rattle Trump and his economic advisers. Trade Representative Robert Lighthizer, who has warned that America will have a sharply diminished economic future if China is allowed to continue its industrial policies and supplant U.S. Read More

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Tesla update to include Dog Mode

Tesla update to include Dog Mode

Leading animal charities have expressed "serious concerns" over Tesla's Dog Mode that's created to keep pets cool in unattended cars. Owners also receive an alert via the Tesla mobile app, and are able to download a video recording of the incident (starting 10 minutes prior to the detected threat). Read More

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Amazon Abandons Plans for Second Headquarters in NY

Amazon Abandons Plans for Second Headquarters in NY

The pushback against the Amazon deal was helped this month when New York State Senator Michael Gianaris of Queens, who is a vocal critic of HQ2, was recommended to serve on the Public Authorities Control Board. It instead focuses on how Amazon would have looked forward to establishing a presence in the state. A new facility is being built for the hub, and Amazon has pledged hundreds of new jobs to support it. Read More

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Jody Wilson-Raybould resigns from Trudeau's cabinet

Jody Wilson-Raybould resigns from Trudeau's cabinet

Trudeau said on Monday that he had full confidence in her and that her presence in cabinet spoke for itself. Jody Wilson-Raybould and Justin Trudeau in happier times. The Trudeau government passed a law a year ago which allows for remediation agreements in cases of corporate corruption, wherein a company pays reparations but does not wind up with a criminal conviction that would bar it from bidding on government contracts, potentially throwing thousands of employees out of work. Read More

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Amazon said to be reconsidering New York City headquarters

Amazon said to be reconsidering New York City headquarters

The Citibank building, the site of a new workplace for Amazon employees, is seen in Long Island City of the Queens borough of NY, U.S., November 14, 2018. The Deputy Majority Leader of the Senate, Michael Gianaris , who represents the Queens district, is against the deal, saying the multibillion dollar company does not need state subsidies, and that local residents weren't consulted. Read More

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Jeff Bezos: AMI defends position on Amazon founder

Jeff Bezos: AMI defends position on Amazon founder

Bezos' extramarital affair became public when the Enquirer published a January 9 story about his relationship with Lauren Sanchez , a former TV anchor who is also married. He said the Enquirer demanded that he stop investigating how the publication recently obtained private messages he and his girlfriend had exchanged. Read More

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RBI Policy: MPC Cuts Repo Rate by 25 Basis Points to 6.25%

RBI Policy: MPC Cuts Repo Rate by 25 Basis Points to 6.25%

Chetan Ghate and Viral V Acharya voted to keep the policy rate unchanged. The bi-monthly meet under RBI Governor Shaktikanta Das saw the six-member MPC panel voting 4:2 in favour of the rate cut . Most polled respondents expected the central bank to only change the stance, to neutral. While RBI's mandate is price stability (targeting inflation), the RBI Act also says that it needs to do so "keeping in mind the objective of growth", Das said then to make his point. Read More

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Oil drops as global economic concerns grip market

Oil drops as global economic concerns grip market

Guaido's team is planning for a post-Maduro government with an emergency scheme to supply fuel domestically, given widespread shortages across Venezuela, Goicoechea said . Countering the rising United States crude output and inventories are voluntary supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) aimed at tightening the market and propping up prices. Read More

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Venezuela Military Uses Barricade to Stop Aid From Opposition

Venezuela Military Uses Barricade to Stop Aid From Opposition

Samaritan's Purse has operated for the past three years in Cucuta, giving food, medicine and backpacks to Venezuelans heading to Colombia on foot. Government estimates reach 4 million by 2021 if the crisis in Venezuela is not resolved. Their meeting comes amid massive protests in Venezuela aimed at pressing Maduro, the country's socialist leader, to vacate the presidency. Meanwhile the Government faces "serious questions" over what it will do to ensure any Venezuelan money illegally tied ... Read More

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NITI Aayog Jumps To Defend Modi’s Jobs Record As Debate Rages

NITI Aayog Jumps To Defend Modi’s Jobs Record As Debate Rages

Critics say PM Modi's push for raising the share of domestic manufacturing from 17 percent of GDP to about 25 percent has not taken off over the last four years. "No, never", Pronab Sen, former chief statistician and ex-chairman of the National Statistical Commission, told TOI. On Thursday, soon after the damaging report on job creation under the Modi government appeared - the first survey since demonetisation was accounced in Novermner 2016 - the government fielded Niti Aayog top ... Read More

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