• Tesla to cut jobs as cars 'too expensive'
Tesla to cut jobs as cars 'too expensive'

Tesla said that it would be cutting its full-time staff numbers by 7 per cent, out of a workforce of 45,000 employees, as it attempts to increase production of its Model 3 saloon vehicle. While Tesla has begun cranking out enough Model 3s to overtake most other luxury automakers, it still hasn't reached the magic 5,000-cars-per-week number over...

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  • Huawei founder speaks out about daughter’s arrest
Huawei founder speaks out about daughter’s arrest

He added that Beijing had never asked him or his company to share "improper information" about its partners. Ren said he loved his country and was a member of the communist party. He said there was "no evidence" of Huawei equipment posing a threat to any country's critical infrastructure, and claimed he would deny any requests from Beijing t...

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  • Taiwan stages live-fire military exercises after China threats
Taiwan stages live-fire military exercises after China threats

The report continues: "China shifted funds and efforts to acquiring technology by any means available". "The PLA [People's Liberation Army] is acquiring a range of technologies to improve China's counterspace capabilities", the agency adds.

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  • Brexit: Rule out no-deal, Jeremy Corbyn tells Theresa May
Brexit: Rule out no-deal, Jeremy Corbyn tells Theresa May

Ms Cooper, the Home Affairs Committee chairwoman, added: "I think the damage no deal would do would be so huge to our manufacturing industry, but also our policing and security, and that's why we had a vote in Parliament to say the Government should not be going ahead with no deal".

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  • US Senators Introduce Bill Targeting US Export to China's Telecom Industry
US Senators Introduce Bill Targeting US Export to China's Telecom Industry

In 2014, United States telecommunication service provider T-Mobile filed a suit against Huawei for unlawful theft of trade secrets and was eventually awarded US$4.8 million in a jury trial. Huawei holds an ever-growing share of the world's smartphone market and is a frontrunner in the race to develop next-generation wireless equipment, which cr...

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  • Alexandria Ocasio-Cortez to Serve on House Financial Services Committee
Alexandria Ocasio-Cortez to Serve on House Financial Services Committee

Former Gov. Scott Walker and U.S. Rep. Alexandria Ocasio-Cortez continue to butt heads, and this time the two took to Twitter to express their differences on marginal tax rates. The House Financial Services Committee oversees all elements of the sector, including banking, public and private housing, credit and insurance, real estate, public and a...

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  • Passengers dealing with long lines at Hartsfield-Jackson's TSA checkpoints
Passengers dealing with long lines at Hartsfield-Jackson's TSA checkpoints

Miami International Airport made a similar move on Saturday, saying one of its checkpoints at a smaller terminal would close early each day. However, according to CNN , reports of TSA workers calling in sick due to the shutdown had already started to circulate on January 4.

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  • China court sentences Canadian to death as diplomatic row deepens
China court sentences Canadian to death as diplomatic row deepens

He was arrested back in 2015 and sentenced last year to 15 years behind bars, as well as a fine of some $22,000. Beijing pays little attention to foreign countries' criticism of a Chinese court's decision to issue the death penalty for Canadian national Robert Lloyd Schellenberg, Chinese Foreign Ministry spokeswoman Hua Chunying said on Wed...

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  • Amid Brexit Chaos, Theresa May's Government Survives Confidence Vote
Amid Brexit Chaos, Theresa May's Government Survives Confidence Vote

May's Brexit agreement was created to keep trade rules between the world's fifth-biggest economy and its largest export market nearly unchanged for a transition period running through the end of 2020. "After two years of failed negotiations, the House of Commons has delivered its verdict on her Brexit deal and that verdict is absolutely decisive".

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  • PG&E, utility tied to California wildfires, to file for bankruptcy
PG&E, utility tied to California wildfires, to file for bankruptcy

Kelly, PG&E's chairman. The California utility owner is in touch with large banks about so-called debtor-in-possession financing that could total between $3 billion and $5 billion, though the exact figure remains in flux and could end up being higher, said the sources, who are familiar with the matter.

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  • US aviation system is starting to show strains from shutdown
US aviation system is starting to show strains from shutdown

Miami International Airport is closing a terminal this weekend due to the partial government shutdown because security screeners have been calling in sick at twice the airport's normal rate. There is no indication that is happening yet. "They're erring on the side of caution". Their work is not getting done, he said . The suit also claims the...

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  • Powell Says Fed Is 'Waiting and Watching' With Patience on Rates
Powell Says Fed Is 'Waiting and Watching' With Patience on Rates

The Bureau of Economic Analysis (BEA), an office under the U.S. Department of Commerce, has already stopped updating data for weeks due to the shutdown. "I don't see a recession", he told a gathering of the Economic Club of Washington . Powell also anxious about the lack of key economic statistics during the government shutdown that the Fed uses...

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  • Markets slip as US-China trade negotiations end
Markets slip as US-China trade negotiations end

It's unclear from the U.S. statement how much headway negotiators made regarding USA concerns over forced technology transfers and cybertheft of trade secrets for commercial purposes. Trump said late Tuesday on Twitter . With cooling economic growth raising the urgency for a settlement, this week's talks went ahead despite tension over the arr...

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  • Sears to Liquidate After Takeover Bid Falls Through
Sears to Liquidate After Takeover Bid Falls Through

An attorney for Sears told U.S. Bankruptcy Judge Robert Drain that Lampert is expected to submit a revised offer for the retailer, along with a US$120 million deposit, by 4 p.m. Riley Financial, Great American partnered with Tiger past year to buy many of bankrupt retailer Bon-Ton Stores' assets and liquidate the company. Troubled US retail giant...

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  • Local News Should you file your taxes during the government shutdown?
Local News Should you file your taxes during the government shutdown?

While refunds aren't being processed during the government shutdown, the IRS is taking payments. While the IRS does conduct some business during shutdowns, it generally does not issue refunds, answer taxpayer questions outside the filing season or conduct audits.

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  • The Next iPhone Will Have This Huge 3-Camera Bump
The Next iPhone Will Have This Huge 3-Camera Bump

The arrangement of the cameras and the LED flash is a bit odd thanks to the microphone which has also been squeezed into the setup. Apple leaks are rare, but new renders have appeared purporting to show the 2019 iPhone - or iPhone XI - as it's being called.

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  • US Dollar Index turns negative on dovish Powell
US Dollar Index turns negative on dovish Powell

US stocks were pummelled on Thursday after Apple slashed its revenue forecast due to weak demand in China and a report showed US manufacturing activity slumping to a two-year low, reviving fears about a global economic slowdown in the wake of the US-China trade war.

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  • Apple plunges most in nearly six years on IPhone slump
Apple plunges most in nearly six years on IPhone slump

Some analysts, however, questioned the impact of Apple's own actions, such as its unyielding pursuit of high selling prices for its products. The China slowdown comes as Apple faces other obstacles in some of its biggest markets. And after several component makers in November forecast weaker-than-expected sales, some market watchers called th...

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  • Apple shares dive; rare revenue warning drags global markets
Apple shares dive; rare revenue warning drags global markets

The sharp reaction puts Apple on track for its biggest one-day share price drop in five years and helped trigger a broader sell-off in U.S. shares as investors fretted about the state of the Chinese market and the broader outlook for the global economy.

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  • India stops printing Rs 2,000 note, two years after its shock launch
India stops printing Rs 2,000 note, two years after its shock launch

Rs 2,000 notes were introduced after the government banned the old Rs 500 and the Rs 1,000 denominations on November 8, 2016. Juxtaposing the data presented in the Lok Sabha with the one provided by RBI in its annual report , the SBI Ecoflash report said, "we observe" that the value of small denomination currency in circulation up to March...

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  • Tesla shares fall on price cut, soft Model 3 deliveries
Tesla shares fall on price cut, soft Model 3 deliveries

The Model 3, Tesla's mass market vehicle, saw sales of more than 145,000 past year, the company said . While Tesla reported yet another historic quarter that saw the company delivering an average of 1,000 vehicles per day, Wall Street has not taken kindly to the electric auto maker's Q4 2018 results.

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  • China, US plan face-to-face trade meeting in January
China, US plan face-to-face trade meeting in January

Treasury Secretary Steven Mnuchin did tell Bloomberg the two sides have had phone discussions since then. The Trump administration is sending trade representatives to Beijing early next month, reports indicated on Wednesday, as the clock ticks down to a deadline for the world's two largest economies to reach a deal.

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  • Another Round Of Sears, Kmart Closures Announced
Another Round Of Sears, Kmart Closures Announced

The iconic but now bankrupt retailer announced Friday it was closing 80 more Sears and Kmart stores. After filing for bankruptcy on October 15, Sears executives have been scrambling to come up with cash to satisfy the bankruptcy court by a 4 p.m.

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  • Sears to close 80 more stores, awaiting bids to stay in business
Sears to close 80 more stores, awaiting bids to stay in business

The Columbus store is not on the Sears Holdings list of those to be closed. Sears faces a self-imposed deadline of 4 pm ET on Friday for bids. The once-dominant retailer filed for bankruptcy in October, and Lampert was seeking nearly $1 billion to support his rescue effort.

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  • NY awe-struck as sky over Queens turns blue
NY awe-struck as sky over Queens turns blue

Turns out the light emanated from an electrical power plant run by Con Edison in Astoria , Queens . After a stoppage because of the power failure, the Metropolitan Transportation Authority said in a tweet that the No. Reports soon came in that La Guardia had lost power and that the airport had closed as a result. "The fire is under ...

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  • U.S. stocks sink as historic rally falters; oil slips
U.S. stocks sink as historic rally falters; oil slips

The tech-heavy Nasdaq lost 141 points, or 2.2 percent, to 6,411. The benchmark S&P 500 gained 5pc or 116 points to 2,467. Data released by Mastercard SpendingPulse showed that retailers had their best holiday season in six years . The stock market deepened its rout after the Fed's rate hike and its decision to let its massive balance sheet...

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  • Stocks set fall after Steven Mnuchin’s odd statement fails to calm markets
Stocks set fall after Steven Mnuchin’s odd statement fails to calm markets

US markets reopen Wednesday. Investors are concerned that Trump may fire Federal Reserve Chairman Jerome Powell. Mnuchin's statement on banks caused many to worry about banks, despite there having been no concerns about banks. analyst Jaret Seiberg wrote in a note to clients. Nor did he consult the president on a separate decision to ask the nati...

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  • Grocery store hours on Christmas Eve, Christmas Day
Grocery store hours on Christmas Eve, Christmas Day

They will, however, be open on Christmas Eve , along with a number of other stores like JCPenney, Macy's , and Kmart. On Boxing Day , most shopping malls open at 8 a.m. Certain bus routes will run every 25 to 45 minutes. Some local stores may have shorter hours on Christmas Day . Eaton Centre: 7 a.m.to 9:30 p.m. The Lanspeary Lions and Ch...

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  • Rate futures market says Fed is all but done with hikes
Rate futures market says Fed is all but done with hikes

The stock market was only open for half a day Monday, and that was more than enough time for the Dow Jones Industrial Average to drop 2.9 percent to 21,792.20. Efforts by Treasury Secretary Steve Mnuchin on Sunday to reassure investors backfired. Asked if he has confidence in Mnuchin, Trump said: "Yes, I do".

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  • Stores offering deals, staying open late on Christmas Eve
Stores offering deals, staying open late on Christmas Eve

Walmart will indeed be open on Christmas Eve 2018. Paddy Murphy's is open for lunch only on Christmas Eve , and will open at 7 p.m. on Christmas Day with full bar service and a limited menu. Eating out on Christmas Eve and Christmas Day can be hard, as a lot of places are closed for the holiday. Fiesta: Christmas Eve open, ho...

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