• Ford to cut 7,000 jobs, 10% of global staff
Ford to cut 7,000 jobs, 10% of global staff

Since Hackett took over as CEO two years ago, he's implemented an $11 billion global redesign to improve what he calls Ford's "fitness", which includes the layoffs as well as cuts to unprofitable and low-margin vehicles, including all sedans.

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  • DOJ reportedly leaning against approving T-Mobile and Sprint’s merger
DOJ reportedly leaning against approving T-Mobile and Sprint’s merger

FCC officials, speaking to reporters in a briefing on Monday, said the agency agreed with that premise. "In light of the significant commitments made by T-Mobile and Sprint as well as the facts in the record to date, I believe that this transaction is in the public interest and intend to recommend to my colleagues that the FCC approve it", Pa...

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  • Taco Bell is opening a Palm Springs hotel
Taco Bell is opening a Palm Springs hotel

There will also be an onsite salon which will offer Taco Bell-inspired nail art and hairstyles options. With the hotel, it was "a buildup of things over the course of the past couple of years", rather than a specific idea or request, said Alec Treffers, communication and brand experience senior specialist for Taco Bell.

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  • UN notified of ships targeted in UAE waters
UN notified of ships targeted in UAE waters

In a statement carried by the state-run Saudi news agency, the kingdom's energy minister said the attack unfolded early Tuesday morning and targeted the oil facilities of state-owned oil giant Aramco. Iran has repeatedly threatened to close the strait in case of a military confrontation with the United States. The team of United States mil...

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  • Huawei offers to sign a no-spy agreement with governments
Huawei offers to sign a no-spy agreement with governments

An administration official said Tuesday that the order on telecommunications technology is unrelated to the recent escalation of the trade conflict. Donald Trump ratcheted up his battle with China for dominance of 5G technology networks, moving to curb Huawei Technologies Co.'s access to the US market and American suppliers.

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  • Asian markets tumble after Wall St battering as China retaliates — International Business
Asian markets tumble after Wall St battering as China retaliates — International Business

Chipmakers were among the biggest decliners. The index also displayed resilience to heavy losses overnight on Wall Street after Beijing retaliated against Washington's latest salvo in the trade row. The price of soybeans slid 0.8% to $8.04 a bushel. The falling price has put pressure on USA farmers. "An eventual agreement still seems the mo...

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  • US Supreme Court Approves Antitrust Lawsuit Against Apple
US Supreme Court Approves Antitrust Lawsuit Against Apple

Apple takes a 30% cut from developers in the first year an app is on the app store, and 15% after that. Apple's shares were down more than 5% to $186.79 in mid-afternoon trading. It is undisputed that the iPhone owners bought the apps directly from Apple. The court in that case "held that an antitrust plaintiff can't sue a defendant for overchar...

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  • Weed killer firm must give U.S. cancer couple $3b
Weed killer firm must give U.S. cancer couple $3b

We have great sympathy for Mr. and Mrs. Pilliod, but the evidence in this case was clear that both have long histories of illnesses known to be substantial risk factors for non-Hodgkin's lymphoma (NHL), most National Hockey League has no known cause, and there is not reliable scientific evidence to conclude that glyphosate-based herbicides were the...

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  • Trump says Iran will 'suffer greatly' if U.S. is provoked
Trump says Iran will 'suffer greatly' if U.S. is provoked

The UAE said on Sunday that four commercial vessels were hit by sabotage near the emirate of Fujairah , one of the world's largest bunkering hubs lying just outside the Strait of Hormuz. He emphasized the joint responsibility of the worldwide community to protect the safety of maritime navigation and the security of oil tankers, as these incid...

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  • Iran facing 'unprecedented' pressure from global sanctions, Rouhani says
Iran facing 'unprecedented' pressure from global sanctions, Rouhani says

A United States warship, USS Arlington, with amphibious vehicles and aircraft on board, is also joining the USS Abraham Lincoln strike group in the Gulf. According to sources close to the matter, Intelligence was warned Tehran approved proxy forces to attack USA personnel and assets in the region. "We don't want them to have nuclear weapons - not...

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  • Uber's Rocky IPO Is a 'Near-Term Speed Bump,' Wedbush's Ives Says
Uber's Rocky IPO Is a 'Near-Term Speed Bump,' Wedbush's Ives Says

Its rival Lyft just went public, raising $2.34 billion , and many are questioning whether either company can become profitable. Worries about the Lyft IPO and its quickly descending stock price pushed Uber to price its initial offering at the low end of its announced scale.

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  • China says will 'never surrender' as U.S. trade row heats up
China says will 'never surrender' as U.S. trade row heats up

The president suggested that manufacturers who make goods in China could shift production to other countries to avoid the tariffs. "It's not China that pays tariffs, it's the American importers, the American companies, that pay what is, in effect, a tax increase, and oftentimes they pass it on to American consumers".

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  • Party City To Shutter 45 Stores Due To Helium Shortage
Party City To Shutter 45 Stores Due To Helium Shortage

Party City believes the new source should substantially eliminate the shortfall they are experiencing at current allocation rates and improve its ability to return to a normal level of latex and metallic balloon sales. It could get more hard to throw a party. But that supply is dwindling after the U.S. passed a law in 1996 obliging it to sell off...

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  • Trump orders USTR to start process of taxing all imports from China
Trump orders USTR to start process of taxing all imports from China

China said it was forced to retaliate against the United States pressure. The latest round of trade talks between China and the USA have ended without a deal as President Donald Trump raised tariffs on $200 billion worth of Chinese imports and signaled that he was prepared for a prolonged economic fight.

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  • Trump Tweets US Plan as Tariffs on Chinese Products Kick In
Trump Tweets US Plan as Tariffs on Chinese Products Kick In

Vice President Mike Pence said last week that "President Trump remains very hopeful" about concluding an agreement to solve tensions, and Treasury Secretary had recently called talks between the two nations "productive". "Pushing rates to 25% will prove extremely damaging to those companies, and the collateral damage will ripple around the globe". ...

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  • Bitcoin hackers steal over $40M in 'well-orchestrated' cyber breach
Bitcoin hackers steal over $40M in 'well-orchestrated' cyber breach

Binance , founded in 2017 and led by Changpeng Zhao, said online that a " large scale security breach " had been found Tuesday at around 5:15 p.m. This transaction targeted the BTC hot wallet only. A statement was released, discussing the issue further, noticing the hacker's "patience to wait" in order to "execute well-orchestrated actions thro...

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  • Trump's tax records show loss of over 1 billion USA dollars
Trump's tax records show loss of over 1 billion USA dollars

US Treasury Secretary Steven Mnuchin in a letter to the House of Representatives Ways and Means Committee said Monday he would not release Donald Trump's tax returns as requested by the panel. "Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome". According to t...

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  • Wall Street slides as US-China trade fears rise
Wall Street slides as US-China trade fears rise

The ministry said escalating trade tensions are not beneficial to either country or to the world. President Trump's top economic advisers on Monday accused China of reneging on previous commitments to resolve a monthslong trade war and said Mr.

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  • Oil up 1% after USA crude stockpiles fall
Oil up 1% after USA crude stockpiles fall

On the supply-side, oil markets remain tense as the United States tightens sanctions on Iranian oil exports, saying on Monday it was boosting its military presence in the Middle East. Further, the bullish EIA crude inventory report also somewhat remains oil-supportive. Oil's gains were capped by a sluggish Wall Street, which had trouble finding d...

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  • Newspaper: Trump lost more than $1 billion from 1985 to 1994
Newspaper: Trump lost more than $1 billion from 1985 to 1994

Congressional Democrats have always been trying to force Trump to provide his tax returns , but the USA president has repeatedly stated the documents were being audited by the Internal Revenue Service and thus could not be released. Officials in New York state are also taking steps to seek the president's tax returns, the New York Times has repo...

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  • Trump businesses reportedly lost more than $1 billion over a decade
Trump businesses reportedly lost more than $1 billion over a decade

The losses, in the 1980s and 1990s, were greater than those reported by almost any other American taxpayer during that period, according to Internal Revenue Service data the Times said it had reviewed . The Times said the president reported such a high amount of business losses that he avoided paying income taxes for eight of the 10 years ana...

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  • Trump to raise tariffs on $200 bn of China goods
Trump to raise tariffs on $200 bn of China goods

Trump has previously said a trade deal with China should be reached within the coming weeks but he is willing to walk away. Chinese Vice Premier Liu He was due to travel to Washington for talks this week after a round last week in Beijing that Treasury Secretary Steven Mnuchin called "productive".

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  • US Unemployment at 49-year Record Low, 2.1% for Asian-Americans
US Unemployment at 49-year Record Low, 2.1% for Asian-Americans

Unemployment in the United States fell to its lowest level in almost 50 years last month, while earnings continued to grow. The unemployment rate fell to a five-decade low of 3.6 per cent from 3.8 per cent, though that drop partly reflected an increase in the number of Americans who stopped looking for work.

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  • Facebook's potential settlement with FTC will likely include WhatsApp
Facebook's potential settlement with FTC will likely include WhatsApp

The moves are being considered as part of a settlement between the social media giant and the Federal Trade Commission, who has been investigating Facebook since March 2018 for allowing Cambridge Analytica to access the personal data of almost 90 million Facebook users for political gain, according to Politico .

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  • Warren Buffett calls Fed Chair Jerome Powell right man for the job
Warren Buffett calls Fed Chair Jerome Powell right man for the job

The Fed now has an empty seat on its board, and Trump wants to nominate Stephen Moore, a political commentator who has been criticized in recent weeks for some of his past misogynistic statements about women, to fill it. Labor market conditions, inflation indicators, in addition to readings on financial and worldwide developments were underscored a...

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  • Activision Blizzard unveils first 5 franchises for Call of Duty World League
Activision Blizzard unveils first 5 franchises for Call of Duty World League

This initiative should continue to grow and may be big enough to compliment the launch of this year's big new Call of Duty game . Atlanta's team will be owned by Atlanta Esports Ventures, the Dallas team by Envy Gaming , the NY team by Sterling.VC, the Paris team by c0ntact Gaming, and Toronto team by OverActive Media.

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  • Rate hikes still on the table despite Brexit uncertainties, says Bank
Rate hikes still on the table despite Brexit uncertainties, says Bank

The Bank of England (BoE) has held interest rates at 0.75% due to a growth spurt in Brexit stockpiling however, the Bank warned the boost will be temporary as there is still much uncertainty. Britain's departure from the European Union, lengthy due for March 29, was delayed final month till October 31, except parliament, approves a deal sooner.

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  • Amazon Got a Place in Berkshire Hathaway's Portfolio
Amazon Got a Place in Berkshire Hathaway's Portfolio

Buffett was referring to their portfolio managers either Ted Weschler or Todd Combs for more than $13 bn in equities for Berkshire. Billionaire investor Warren Buffett has said that he underestimated Amazon .com Inc chief executive officer Jeff Bezos, and now one of his deputies is willing to put money behind the technology giant.

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  • Fed chief Powell downplays low inflation, dashing hopes for a rate cut
Fed chief Powell downplays low inflation, dashing hopes for a rate cut

But the Fed's shift on 2019 interest-rate policy - ceasing its program of rate hikes - has been real, and warranted, given the financial market reaction. The chief concern flagged in the policy statement was the now "muted" level of inflation, which continues to fall short of the Fed's 2 percent target.

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  • Tim Cook: iPhone price corrections delivering 'better results' in India
Tim Cook: iPhone price corrections delivering 'better results' in India

It is possible that Apple meant to put a fingerprint scanner into the display as it was developing the iPhone X . Apple ultimately made a decision to go with Face ID instead, thus introducing the world to the dreaded notch design. Another notable financial bump in the company's reporting came from services; Apple clocked $11.5 billion in sales fro...

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