Twitter shares tumble on forecasts for weaker revenue, higher costs

Despite the growth in 2018, investors are concerned with Twitter's forecast for the first quarter; the company predicted ad revenue fall to between $715 million and $775 million. The short-messaging platform said it posted a $255 million profit in ... More..

by | Published more than a month ago
Amazon's Bezos says National Enquirer tried to blackmail him over 'intimate photos'
by | Friday, February 08, 2019

Amazon's Bezos says National Enquirer tried to blackmail him over 'intimate photos'

The blog post came on the same day that Gavin de Becker , Bezos' security adviser, told The Washington Post that he is investigating how text messages between Bezos and former TV anchor and now-paramou...More..

NAB CEO vows to stay on despite Hayne pain
by | Thursday, February 07, 2019

NAB CEO vows to stay on despite Hayne pain

Relief that banks dodged what could have been hammer blows - forced breakups or tighter lending rules - sparked the biggest rally in financial shares in a decade. "There will be nothing positive in the recomm...More..

Tesla cuts price of Model 3 - but not to $35K
by | Thursday, February 07, 2019

Tesla cuts price of Model 3 - but not to $35K

Tesla is slashing the price of the Model 3 for a second time this year, days after rearranging the pricing and versions of the Model S and Model X amid mild price cuts. "It's a super hard grind", he wrote. ...More..

BB&T, SunTrust announce merger as Charlotte gains another bank headquarters
by | Thursday, February 07, 2019

BB&T, SunTrust announce merger as Charlotte gains another bank headquarters

USA regional lender BB&T Corp said it will buy rival SunTrust Banks Inc for about $28 billion in stock. A merger of two United States banks has handed RBC Capital Markets, the Canadian investment bank, ...More..

RBI: Repo rate reduced by 25 basis points
by | Thursday, February 07, 2019

RBI: Repo rate reduced by 25 basis points

In the past, even when the RBI has signalled lower rates, this rate transmission never really happened because banks always found a way to ignore the central bank's policy cues. Dr Ravindra H. Dholakia, Dr Pami...More..

US oil, gasoline inventories up in latest week
by | Thursday, February 07, 2019

US oil, gasoline inventories up in latest week

Daniel Yergin , vice chairman of IHS Markit , agreed: "I think the oil price is moved by what happens with the overall financial markets; it means sentiment will have a bigger impact on the oil price, [and] a ...More..

Oil prices drops below $61.5
by | Thursday, February 07, 2019

Oil prices drops below $61.5

EST (1633 GMT). The producers known as OPEC+ began cutting production by 1.2 million barrels per day (bpd) from last month to avert a new supply glut and OPEC has delivered nearly three quarters of its pledge...More..

Trump avoids tech in State of the Union address
by | Wednesday, February 06, 2019

Trump avoids tech in State of the Union address

But if no deal is reached by March 1, US duty rates on $200 billion in Chinese goods are due to rise to 25 percent from 10 percent. Dow Jones also said that China has agreed to widen the trade discussions to ...More..

Trump calls for bipartisanship, a hard line on immigration
by | Wednesday, February 06, 2019

Trump calls for bipartisanship, a hard line on immigration

It was when House Speaker Nancy Pelosi (D-Calif.) stood and applauded a line from Trump's speech in a way that seemed rife with sarcasm to many observers. The White House is also considering imposing tariff...More..

Nine EU states recognise Guaido as Venezuela's president, increasing pressure on Maduro
by | Wednesday, February 06, 2019

Nine EU states recognise Guaido as Venezuela's president, increasing pressure on Maduro

Meanwhile, the Lima Group, a working group of 14 countries in the Americas, met in Ottawa for the first time since Guaido declared himself president on January 23. With nearly no information about how aid will ...More..

GM moving ahead with salaried job cuts, says modest number in Canada
by | Tuesday, February 05, 2019

GM moving ahead with salaried job cuts, says modest number in Canada

GM announced that 4,000 employees will be fired. General Motors says it has largely completed salaried job cuts in Canada as part of a wider restructuring, though it confirmed Monday it was continuing to ...More..

Canadian retailer Sunrise Records buys HMV stores
by | Tuesday, February 05, 2019

Canadian retailer Sunrise Records buys HMV stores

Unfortunately, 27 stores have not been acquired, and will be closed with immediate effect, resulting in 455 redundancies. The administrators will retain a further 122 employees at warehouse functions to assis...More..

Tesla plans to buy Maxwell Technologies for $218 million
by | Tuesday, February 05, 2019

Tesla plans to buy Maxwell Technologies for $218 million

Tesla is a well-respected and world-class innovator that shares a common goal of building a more sustainable future. Tesla paid top-dollar for the all-stock deal. This technology, says the company, is used to...More..

Alphabet beats Wall St. estimates, but spending worries investors
by | Tuesday, February 05, 2019

Alphabet beats Wall St. estimates, but spending worries investors

Facebook Inc. showed that last week by reporting a 30 percent jump in fourth-quarter revenue from a year earlier. Analysts on average had expected revenue of $38.93 billion and earnings of $10.87 per share, ...More..

Cryptocurrency Exchange QuadrigaCX Loses US$145 Million With Death Of CEO
by | Tuesday, February 05, 2019

Cryptocurrency Exchange QuadrigaCX Loses US$145 Million With Death Of CEO

The firm, Canada's largest cryptocurrency exchange , also faces other unrelated banking issues, and says it has applied for creditor protection as it seeks to address "significant financial issues". The co...More..

SpaceX successfully test-fires rocket engine Raptor
by | Tuesday, February 05, 2019

SpaceX successfully test-fires rocket engine Raptor

Elon Musk and a SpaceX illustration of its Starship rocket on Mars. Even though the test firing propels the Raptor around the corner past the proof of concept stage, Musk acknowledged there's still plent...More..

General Motors acknowledges start of 4,000 layoffs of salaried workers
by | Monday, February 04, 2019

General Motors acknowledges start of 4,000 layoffs of salaried workers

Company officials said Monday they are moving forward with the next chapter in the transformation plan by starting to lay off salaried workers. "You know, the United States saved General Motors, and for her t...More..

May 'determined' United Kingdom will leave European Union on time in March
by | Monday, February 04, 2019

May 'determined' United Kingdom will leave European Union on time in March

With just eight weeks to go before Britain ends its membership of the European Union (EU), May issued a plea to lawmakers in the House of Commons to stand together to support a new deal. MPs voted last week to ...More..

Chinese media pushes for talks with USA on Huawei
by | Monday, February 04, 2019

Chinese media pushes for talks with USA on Huawei

Once CRN was able to enter the conference, we were treated to Brumby and Lord vigorously defending the company. As Huawei comes under increasing pressure in Europe, Czech President Milos Zeman met representat...More..

Foxconn pledges to still build Wisconsin factory after Trump talks
by | Sunday, February 03, 2019

Foxconn pledges to still build Wisconsin factory after Trump talks

The latest came yesterday, when a Japan-based outlet reported Foxconn was suspending and scaling back its Wisconsin plant following negotiations with Gov. Hintz said the state hasn't paid out the incentives...More..

BP joins Shell in making plans to combat climate change
by | Sunday, February 03, 2019

BP joins Shell in making plans to combat climate change

Other efforts include incorporating descriptions of how it evaluates emissions impacts as part of decisions related to capital investment to explore and develop oil and gas projects. Meanwhile, BP also said it ...More..

U.S. adds 304,000 jobs in January, almost doubling economists' expectations
by | Sunday, February 03, 2019

U.S. adds 304,000 jobs in January, almost doubling economists' expectations

Meanwhile, wages also rose slightly by 0.1-percent, while unemployment also ticked up to four-percent from 3.9-percent. "Nearly all of this increase occurred in the private sector and may reflect the impact of ...More..

Amazon makes major leap in ad industry with $10 billion year
by | Sunday, February 03, 2019

Amazon makes major leap in ad industry with $10 billion year

Management expects revenue for the period to rise 10% to 18% year over year to between $56 billion and $60 billion. Profits hit $ 3 billion , compared to $1.9 billion a year ago. EPS came in at $6.04 on reven...More..

Amazon India takes down major products following government ruling
by | Sunday, February 03, 2019

Amazon India takes down major products following government ruling

In December a year ago, the government tightened norms for FDI-funded ecommerce companies including Flipkart and Amazon and said such entities can not exercise ownership or control over inventory . Ano...More..

Unilever stockpiles Magnum ice-cream in case of no-deal Brexit
by | Sunday, February 03, 2019

Unilever stockpiles Magnum ice-cream in case of no-deal Brexit

Chief financial officer Graeme Pitkethly said there had been a EUR500,000 increase in inventory. It follows admissions of Brexit stockpiling from other firms. However, pre-tax profits increased 52% to 12.38...More..

Tragedy: Toll in Brazil dam disaster rises to 115 dead, 248 missing
by | Saturday, February 02, 2019

Tragedy: Toll in Brazil dam disaster rises to 115 dead, 248 missing

Newly-released video footage shows the harrowing moment a mining dam collapsed, unleashing a powerful wave of waste that swept over everything in its path in Brazil. Dams holding mining waste, known as tailin...More..

Chinese National Arrested for Stealing Apple's Trade Secrets
by | Saturday, February 02, 2019

Chinese National Arrested for Stealing Apple's Trade Secrets

When called into to have a word with Apple's black shirted security investigators, Chen told Apple investigators he had taken the pictures to support applications for jobs within the company after supervisors t...More..

Tesla CFO leaves as automaker promises profits and cheaper cars
by | Friday, February 01, 2019

Tesla CFO leaves as automaker promises profits and cheaper cars

Chief Executive Elon Musk touted strong demand for the Model 3 , as the company begins to ship the vehicle to Europe and Asia from its Fremont, California factory. Musk gave a "rough guess" that Tesla would ...More..

Recall of infant ibuprofen expanded for higher level of concentration
by | Friday, February 01, 2019

Recall of infant ibuprofen expanded for higher level of concentration

The company also stated there is a "remote possibility" that infants, who are more susceptible to a higher-potency level of the drug, may be more vulnerable to permanent non-steroidal anti-inflammatory drug (NS...More..