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Business

A likely candidate proposed by one commenter was "breakfast". That's right. It's not a typo, although the company has not disclosed the meaning of the new acronym. According to the iconic restaurant, they are ready to make some changes to their familiar name. This move followed a trend from the year prior , in which Dine Brands Global shut down 23 IHOP restaurants.
  • Steel producers urge Trudeau to retaliate quickly against US tariffs

    Business

    All of these countries have threatened retaliation over Trump's tariffs . China's Ministry of Commerce, in response, took a dig at the flip-flopping from Washington, saying "We are both surprised and unsurprised at the statement, which is obviously contrary to the consensus reached between China and the U.S.in Washington not long ago".
  • Qatar Airways CEO Says Women Can't Do His Job Because It's Hard

    Qatar Airways CEO Says Women Can't Do His Job Because It's Hard

    Business

    His comments met with loud groans of disapproval from many journalists in the room. Asked about the issue among Middle East airlines in particular, and why his job as head of his country's flag carrier couldn't be done by a woman, outspoken Qatar Airways Chief Executive, Akbar al Baker , gave a typically provocative answer.
  • Petrol prices hit four-year high, ACCC says

    Petrol prices hit four-year high, ACCC says

    Business

    Perth was the second highest at 137.4 cents, followed by Melbourne at 137.2 cents a litre on average across the city. The price of petrol at the pump rocketed by a "hellish" 6p a litre in May - the biggest monthly rise for 18 years, the RAC has said.
  • Petrol, diesel prices cut by 9 paise

    Petrol, diesel prices cut by 9 paise

    Business

    According to the department, the average global product prices of petrol and diesel and illuminating paraffin increased during the period under review. The new price for subsidised cylinder in Delhi is Rs. 493.55, while that of non-subsidised cylinder is Rs. 698.50. "The Petroleum and Natural Gas Ministry reduced fuel price which is negligible but at the same time increased LPG price by Rs.
  • Starbucks to close over 8,000 stores for anti-bias training

    Starbucks to close over 8,000 stores for anti-bias training

    Business

    Racial bias is a societal issue, which is alive and well. Area Starbucks locations are among the more than 8,000 USA stores that closed for a few hours Tuesday to conduct anti-bias training. When police were called, the men had not yet purchased anything. "It represents freedom in embracing your ethnicity", she said. There were no charges filed on Nelson and Robinson and they settled for $1 each and a promise from officials to set up a $200,000 program for young entrepreneurs.
  • Italy gridlock shakes up global markets

    Italy gridlock shakes up global markets

    Business

    That ended their attempt to establish a government after inconclusive elections in March. Turbulent financial markets in Europe are setting a risk-averse mood among market players around the world this morning. The euro dropped 1.0 per cent against the safe-haven Swiss franc on Tuesday, its biggest daily fall since September, and last stood at 1.1445 francs.
  • Howard Schultz Is Stepping Down As Starbucks Executive Chairman

    Howard Schultz Is Stepping Down As Starbucks Executive Chairman

    Business

    Executive Chairman of Starbucks, Howard Schultz , has stepped down from his position, and claims have circulated that the socially conscious CEO might run for president in 2020. Schultz's move comes after he ceded the day-to-day duties of CEO at Starbucks past year to focus on innovation and social impact projects as executive chairman.
  • Apple WWDC: Apple wants you to use your iPhone less

    Business

    And the next version of the Mac operating system - called Mojave - introduces a new dark mode for people who like the colour black. The CPU ramps up when it detects that more power is needed (if you start scrolling, for example), and ramps down again to conserve battery life afterwards.
  • Concessions will not be implemented if U.S. imposes trade sanctions, warns China

    Concessions will not be implemented if U.S. imposes trade sanctions, warns China

    Business

    Earlier, Mnuchin had pointed to a rocky road ahead for the U.S., which is now embroiled in trade disputes on two fronts, after talking about Washington's China policy. Both the U.S. and China reported some progress in discussions over the weekend about how to reduce China's $375bn goods-trade surplus with the United States, but Mr Trump's revival last week of a plan to slap tariffs on $50bn of Chinese imports has cast the talks into turmoil.
  • Google employees raise concerns over its contract with US Defense Dept

    Google employees raise concerns over its contract with US Defense Dept

    Business

    USA media reports said Google's parent company, Alphabet Inc., told Google employees about the decision Friday. Diane Greene , head of the cloud business at Alphabet Inc.'s Google, told staff on Friday that the company will let the deal lapse when it runs out in March 2019, according to people familiar with the meeting.
  • Jordanians in third night of tax rise protests

    Jordanians in third night of tax rise protests

    Business

    Jordanian riot police and security forces scuffle with protesters attempting to breach the area as they stand guard during a demonstration outside the prime minister's office in the capital Amman late on June 3, 2018. Protests in Jordan against tax rises and austerity measures - the biggest protests there for years - have entered their third consecutive night. "The government has made us penniless.
  • It could be you: €4.3m Lotto jackpot won in Limerick

    It could be you: €4.3m Lotto jackpot won in Limerick

    Business

    Odds of winning a Lotto Max jackpot or Maxmillion prize are one in 28,633,528 per play. The WCLC says the tickets were sold in Saskatchewan meaning they were not purchased in either Regina or Saskatoon. The bonus number was 43. Next Friday's draw (June 8) will offer a record-breaking $112 million in prizes, including the estimated $60-million jackpot and an estimated 52 MAXMILLIONS prizes of $1 million each.
  • Two more people killed in Nicaraguan protests

    Two more people killed in Nicaraguan protests

    Business

    But the Nicaraguan Bishops' Conference announced Thursday that it will not resume the dialogue as long as "the people continue to be repressed and killed" by "groups close to the government". "(We) condemn all of these acts of repression on the part of groups close to the government and we want to leave it clear the national dialogue talks can not continue while the Nicaraguan people continue being denied their right to protest", the prelates said.
  • Buffett lunch auction gets $3.3M winning offer

    Buffett lunch auction gets $3.3M winning offer

    Business

    Recall that in may 2018, more than all the means in the world due to the fall of the U.S. stock market over the last three days have lost the head of Berkshire Hathaway Warren Buffett and Facebook founder mark Zuckerberg. "Glide really takes people who have hit rock bottom and helps bring them back". The budget goes towards providing hundreds of thousands of free meals, shelter, HIV tests, job training, children's day care, and after-school programmes.
  • Microsoft surpasses Alphabet to become third most valuable firm

    Microsoft surpasses Alphabet to become third most valuable firm

    Business

    While Microsoft still trails behind Apple's market valuation of $923 billion and Amazon's $782 billion market top, it has a different scope of organizations where it produces income from. Impressive growth in its cloud computing division has garnered investor confidence, triggering Microsoft's bull run. According to a Morgan Stanley estimate, Microsoft's cloud business could double in the next three years, propelling it to the $1 trillion market cap figure.
  • Political crisis ends in Italy as new cabinet sworn

    Political crisis ends in Italy as new cabinet sworn

    Business

    The parties' new economy minister, another little-known figure, economics professor Giovanni Tria, has been critical of the EU's economic governance, but unlike Savona he has not advocated a "plan B" for possibly exiting the euro. The new minister for public administration is defence attorney Giulia Bongiorno, a centre-right MP well-known for defending ex-premier Giulio Andreotti against mafia collusion charges and, more recently, acting for Raffaele Sollecito, the ex-boyfriend of American ...
  • Brazil strikes recede, but now government has to pay

    Brazil strikes recede, but now government has to pay

    Business

    Parente's resignation highlights the erosion of support for market-friendly policies after two years of austerity under President Michel Temer. In a brief note, the company explained the nomination of an interim CEO will be reviewed by the Board of Directors throughout the day and anticipated the composition of the company's executive board will not change.
  • Unemployment Rate Drops To 3.8 Percent, Lowest Since 2000

    Unemployment Rate Drops To 3.8 Percent, Lowest Since 2000

    Business

    Job openings are at a record high, and businesses are hungry for workers. That pushed the annual increase in average hourly earnings to 2.7 percent from 2.6 percent in April. Other indexes also moved higher. The unemployment rate for less-educated workers is below the prerecession lows. Here's one more way of slicing the numbers that shows just how unique the past few years have been.
  • Cainiao and RoboSense announce

    Cainiao and RoboSense announce "World's first solid-state LiDAR unmanned logistics vehicle"

    Business

    According to the set data, the entire motorcade is running at a fixed distance. The entire operating costs of such unmanned formations are much lower than ordinary trucks, saving fuel and manpower. Meisong Lai, founder, chairman and chief executive officer of ZTO , said: "The growth of e-commerce and New Retail in China demands more efficient express delivery and expanded logistics services".
  • US singled out by G7 allies over steel and aluminum tariffs

    US singled out by G7 allies over steel and aluminum tariffs

    Business

    Canadian Foreign Minister Chrystia Freeland said in a statement that the tariffs were "imposed under a false pretext of safeguarding United States national security". Bruno Le Maire, France's economy and finance minister, said a G7 trade war should be avoided. "He's anxious about trade surpluses, trade deficits around the world".
  • Google backs off from Pentagon project after uproar

    Business

    This was very controversial and more than a handful of Google employees resigned in protest , while thousands signed a petition against it. But Greene, who leads Google Cloud , told employees that the company had endured considerable backlash and pursued the work at a time when the company was more interested in military contracts, according to Gizmodo .
  • Amazon just blocked Australians from shopping on most of Amazon

    Amazon just blocked Australians from shopping on most of Amazon

    Business

    In response, Amazon said it will block Australians from accessing the global site from July 1, when the new GST comes into effect. From that date, Australia will impose a 10 percent consumption tax on online retailers for goods bought from overseas sites and shipped to Australia .
  • S&P cuts troubled Deutsche Bank's rating

    S&P cuts troubled Deutsche Bank's rating

    Business

    The report in yesterday's Wall Street Journal was followed today by a Standard & Poor's downgrade of Deutsche's credit rating to BBB+ from A-. "We are highly focused on addressing identified weaknesses in our USA operations". That was one or two notches below most major European competitors. Deutsche was the most active lender in NY commercial real estate between October 2016 and September 2017, with more than $6 billion given in non-construction mortgages and more than $2 billion in ...
  • Air India sale fails to take off, panel to review options

    Air India sale fails to take off, panel to review options

    Business

    Bidders would have had to take on US$5 billion debt. As per PIM, Air India and Air India Express would retain Rs 24,576 crore excluding net current liabilities after the sale. Choubey refused to talk to the journalists who had gathered today at the ministry in large numbers. Prime Minister Narendra Modi's government will review plans to sell Air India after his administration's most high-profile privatisation offer ended in a whimper with no buyers showing interest in the unprofitable flag ...
  • Winning Lotto Max Numbers

    Business

    Marie, Toronto and the Sault Ste. A $1-million victor was also purchased in nearby Mississauga. In additdion to Friday's $1 million ticket, a ticket sold in the Sault shared a $1 million prize in the May 25 draw with a ticket purchased from Quebec.
  • B.C.'s minimum wage goes up more than $1 tomorrow

    B.C.'s minimum wage goes up more than $1 tomorrow

    Business

    The RBA has been loath to heed its own wage hike recommendation, with employees at its note-printing subsidiary calling a strike last week to demand a 3.5 percent pay rise, rather than the 2 percent the central bank was offering. The commission said an increase of the size called for by unions risked reducing employment prospects for low-skilled workers. From July 1, employees will be entitled to a minimum take-home weekly pay of $719.20, or $18.93 an hour.
  • Oil extends weekly loss as output surges and USA dollar rises

    Oil extends weekly loss as output surges and USA dollar rises

    Business

    Getting crude oil to the coast has become an issue, and demand both inside the USA and outside the country has climbed. USA and OECD days of supply are forecast to remain close to their previous five-year average levels through 2019. For the week, WTI is on track for a 1.5% fall, adding to last week's almost 5% decline, while Brent is set to rise 1.3%, widening the spread between the two benchmarks.
  • Banks face curbs on overdraft charges

    Banks face curbs on overdraft charges

    Business

    High street banks face the loss of billions of pounds after the FCA said that it could force through measures to protect borrowers from being pushed to take on unmanageable debt. The regulator is putting forward immediate proposals that it says will save customers up to GBP140 million a year. "The FCA's willingness to cap rent-to-own credit is good news for the thousands of people who rely on it to cover essential item", she said.
  • Qantas, Air New Zealand announce codeshare deal

    Qantas, Air New Zealand announce codeshare deal

    Business

    Qantas chief executive Alan Joyce said the two national carriers had history dating back nearly 80 years. "A codeshare deal on our domestic networks makes sense for customers because it leverages the strengths we each have in our home markets", Qantas chief executive Alan Joyce said.
  • Canada giving Trump time to reconsider: Morneau

    Canada giving Trump time to reconsider: Morneau

    Business

    US Chamber of Commerce president Tom Donohue warned in a letter to the body's board that current trade policies could threaten economic progress and cause the loss of more than 2 million jobs, mostly in states that voted for Trump . On the other side of the argument, as A.P. points out, American ally Japan has already been paying the tariffs . In a statement , European Commission President Jean-Claude Juncker said "this is protectionism, pure and simple".
  • Full list of Sears, Kmart store closures released

    Full list of Sears, Kmart store closures released

    Business

    No North Carolina stores were named among the group of closures this time, according to a list the company released Thursday afternoon. Part of the Macomb Mall location was converted into a Home store. That consists of 15 Kmart stores and 48 Sears stores, all of which are expected to be closed by early September. The retailer put up for auction the property its stores occupy at Mid Rivers Mall and South County Center .
  • Fiat plans new 500e and 500 Giardiniera wagon

    Fiat plans new 500e and 500 Giardiniera wagon

    Business

    He expects them and Fiat's van business to account for four-fifths of revenues in 2022, up from roughly 65% now. Sergio Marchionne, CEO and chairman of Fiat Chrysler Automobiles , speaking at the North American International Auto Show on January 16, 2018.
  • Malaysia's Petronas to take 25 pct stake in LNG Canada

    Malaysia's Petronas to take 25 pct stake in LNG Canada

    Business

    A rendering of the proposed LNG Canada facility in Kitimat. The project would consist of two LNG processing units that could produce as much as 6 million tons of super-cooled gas per year each and, with Asian economies among the largest consumers of LNG in the world, Shell's partners at the time said the project would be a valuable asset.
  • Explainer: What is China's A-share MSCI inclusion on June 1?

    Explainer: What is China's A-share MSCI inclusion on June 1?

    Business

    AGF Investments America Inc. raised its holdings in iShares MSCI Italy Index (NYSEARCA:EWI) by 34.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. These two-way investment schemes allow investors to buy Chinese shares through the former British colony, and vice versa. The daily quota for "northbound" purchases of shares in each channel was quadrupled to 52 billion yuan on May 1.
  • Google reportedly won’t renew controversial drone imaging program

    Business

    Google cloud boss Diane Greene Google Diane Greene, CEO of Google Cloud, informed employees of the company's decision on Friday, unnamed sources told Gizmodo . More than 700 Google employees had joined an online group inside the company called Maven Conscientious Objectors, using it to vent their concerns about the project and discuss ways of protesting against it.
  • Raising The Alarm: Ex-Econ Officials Say Trump Jobs Tweet Needs Investigation

    Raising The Alarm: Ex-Econ Officials Say Trump Jobs Tweet Needs Investigation

    Business

    President Trump got a scolding on social media Friday for tweeting his excitement about the government's latest jobs report more than an hour before the good news was released to the public. Francisco Flores, an analyst at Mexican bank Banorte, said in a note that Trump's hard-line migration policy had likely been driving up remittances since previous year since workers may fear they will be deported and send more savings back home and that those fears should keep driving flows going forward.