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Business

In March this year, it acquired Uber's Southeast Asian assets to be the dominant ride-hailing player in the region. The carmaker first invested an undisclosed amount in Grab in August a year ago, after it invested in US-based Uber in 2016 in a partnership for a financing programme that allowed Uber drivers to lease vehicles from Toyota and drive for Uber to cover the payments.
  • Tesla to lay off 9% of workers as part of restructuring plan

    Tesla to lay off 9% of workers as part of restructuring plan

    Business

    Afterward an emotional Musk appeared to signal brighter days ahead for the Tesla when he predicted the company would begin pushing out 5,000 Model 3s per week by the end of June. For almost all of its history, Tesla has put up losses while investing heavily in technology, manufacturing plants and an extensive car-charging network.
  • Amazon shares seen lower amid Foxconn factory conditions report

    Amazon shares seen lower amid Foxconn factory conditions report

    Business

    The China Labor Watch found workers earn about £233 a month, less than half the national living wage of £530, calculated for China by the Asia Floor Wage Alliance. The concerns involved treatment of dispatch workers and overtime pay, Amazon spokesman Ty Rogers said. While working conditions in Chinese factories have been a point of concern for quite some time, with companies like Apple , Nike, Foxconn and a host of other brands having been in the spotlight recently, Amazon has now been ...
  • Ex-ambassador stunned Trump sided with Kim against South Korea

    Ex-ambassador stunned Trump sided with Kim against South Korea

    Business

    Reuters is out with more details on the agreement signed between the US President Trump and North Korea's leader Kim Jong-Un, with the key four areas mentioned in the document found below. budget. "Plus, I think it's very provocative ". A spokeswoman for USA military forces in Korea, meanwhile, said it had not received any direction to cease joint military drills.
  • US, North Korea Sign Agreement at Historic Summit

    US, North Korea Sign Agreement at Historic Summit

    Business

    With Trump , however, Rodman said, things changed because he understood that people of North Korea have a heart and a soul. Mr Trump's delegation at the luncheon included US National Security Adviser John Bolton, Secretary of State Mike Pompeo, White House Chief of Staff John Kelly and Press Secretary Sarah Huckabee Sanders.
  • New Tesla software to offer 'full' autonomy, Musk says

    New Tesla software to offer 'full' autonomy, Musk says

    Business

    Tesla intends to make quite a range of vehicles. In the tweet , which addressed a concern about Autopilot wavering in high-traffic lane-merging situations, Musk said "that issue is better in latest Autopilot software rolling out now & fully fixed in August update as part of our long-awaited Tesla Version 9".
  • Production shake-up at Land Rover as it readies new Range Rover

    Production shake-up at Land Rover as it readies new Range Rover

    Business

    Jaguar Land Rover first announced its intention to begin production of the Discovery in Slovakia in 2016, but did not mention at the time that the process could involve the migration of the model's entire UK-based production line. Alongside this, JLR says "a significant investment and technology upgrade" in Solihull will prepare the plant for other new and upcoming Land Rover models.
  • President Trump, Kim Jong Un shake hands ahead of historic meeting

    President Trump, Kim Jong Un shake hands ahead of historic meeting

    Business

    Yes, kind words, yes, they're meeting . "It will be challenging but I want to do that", Kim said. "We're going to have a great discussion". "We will have a terrific relationship". Two of America's close partners - Japan and South Korea - have assured the United States of help in the economic reconstruction of North Korea if everything goes well in Singapore .
  • Liveblog: President Trump Meets North Korean Leader Kim Jong

    Liveblog: President Trump Meets North Korean Leader Kim Jong

    Business

    Trump had earlier tweeted about "excitement in the air!" The 70-year-old, who was not on the North Korea trip, was active in Trump's feud with Canadian Prime Minister Justin Trudeau over the weekend. Experts believe the North is close to being able to target the entire USA mainland with its nuclear-armed missiles, and while there's deep skepticism that Kim will quickly give up those hard-won nukes, there's also some hope that diplomacy can replace the animosity between the US and the North.
  • Wendy's had a savage response to the IHOb name change

    Business

    The president of IHOP welcomed the country to the restaurant chain's newest venture on "Fox & Friends" Monday morning. But Burger King was silent on social media. The "b" stands for burgers! The restaurant chain is introducing seven new varieties of steak burgers and promoting itself as a lunch and dinner spot.
  • Obama-era net neutrality has ended: What does it mean for you?

    Obama-era net neutrality has ended: What does it mean for you?

    Business

    The Federal Communications Commission voted to repeal net neutrality saying the regulations were unnecessary and unhelpful, that repeal takes effect Monday. We're also waiting to hear whether the Supreme Court will agree to hear a separate lawsuit on net neutrality. Since Pai's passage of the Restoring Internet Freedom order, supporters of net neutrality have taken several approaches to prevent the new rules from going into effect.
  • ‘Profound talks’: North Korean media hail Kim-Trump summit

    ‘Profound talks’: North Korean media hail Kim-Trump summit

    Business

    The US and Singapore delegations enjoyed lobster bisque, beef tenderloin and ice cream. Pompeo held firm to Trump's position that sanctions will remain in place until North Korea denuclearizes - and said they would even increase if diplomatic discussions did not progress positively.
  • US President Trump arrives in Singapore for historic Trump-Kim summit

    Business

    While en route to Singapore , Trump said he looked forward to meeting Kim on what he anticipated would be an exciting day. The media reports on the Trump-Kim talks on Monday follow months of only the scantest of coverage, though Kim's summits with South Korea's president, Moon Jae-in , and China's president, Xi Jinping , received large-scale coverage soon after they had ended.
  • Poundworld collapse leaves 5,100 jobs at risk

    Business

    Its collapse comes after both Toys R Us and Maplin fell into administration earlier this year. Deloitte , which has been co-ordinating efforts to find a solvent deal for the business , is expected to oversee the administration of Poundworld.
  • Energy needs mustn't destroy civilization

    Energy needs mustn't destroy civilization

    Business

    Three years ago, Pope Francis issued a sweeping letter that highlighted the global crisis posed by climate change and called for swift action to save the environment and the planet. There were around 50 participants, including ExxonMobil CEO Darren Woods, BP's Bob Dudley, Eldar Saetre of Norwegian oil firm Equinor, Vicki Hollub of Occidental Petroleum and Claudio Descalzi, head of Italian energy company ENI.
  • Kia recalls more than 500K vehicles; air bags may not inflate

    Kia recalls more than 500K vehicles; air bags may not inflate

    Business

    The recall covers about 507,587 vehicles, according to the National Highway Traffic Safety Administration's (NHTSA) website. Another major automaker is recalling vehicles due to air bag issues. The company said it does not yet have a fix, but is working with its supplier on the issue. "Once one has been developed Kia will notify all owners of the affected vehicles", Kia Canada spokesman Mark James said in an email to Automotive News Canada.
  • Meet Summit, world`s most powerful supercomputer built by the US

    Meet Summit, world`s most powerful supercomputer built by the US

    Business

    The speedy performance of the machine, called Summit , was announced Friday. Since 2012, this will be the first time that a USA -based supercomputer holds the top spot on that list. The Chinese government has been working furiously on high-performance computing in recent years, investing billions in its tech industry. In total, Summit weighs in at 340 tons and can fill two tennis courts.
  • Breakfast? Nah, IHOb is the International House of Burgers

    Business

    Sure enough, IHOP - we mean IHOB - just announced its new name, the International House of Burgers . The "P" will now flip to a lowercase 'b.' Last week, the well-known restaurant chain suggested it would change is name. Many took to social media to guess what the new name could be and most assumed the "b" would stand for 'breakfast.' They were wrong. "I went to IHOP earlier and the waiter was like 'it's burgers", wrote one Twitter user on Wednesday.
  • Korea Make Final Preparations for Trump-Kim Summit

    Business

    If April's Inter-Korea Summit was the crack in the dam holding the world back from Pyongyang , Tuesday's Trump-Kim meeting could potentially represent the total collapse of the dam that brings the world surging towards North Korea . Ahead of his much-anticipated meeting with Kim, the US President sounded optimistic and said the meeting would be a "one-time shot" at peace. He initially touted the potential for a grand bargain with North Korea to rid itself of a nuclear missile program ...
  • Bitcoin price plunges after cryptocurrency exchange is hacked

    Bitcoin price plunges after cryptocurrency exchange is hacked

    Business

    Coinrail have since confirmed that they have been victim of an attack, which has seen around a 30% loss of coins traded on the exchange, this comes in at an estimated value just shy of $40 Million. Without disclosing the exact amounts stolen, Coinrail revealed some of the stolen ERC-20 tokens, namely NPXS tokens from Pundi X, a payment project; ATC from Aston X, a decentralized document project and; NPER tokens from the namesake decentralized IP project.
  • Trump's G7 bust-up shows risks for North Korea summit

    Trump's G7 bust-up shows risks for North Korea summit

    Business

    Rodong said Kim is in Singapore to work on 'establishing new DPRK-U.S. relations... building a durable peace-keeping mechanism on the Korean Peninsula...realizing the denuclearization of the Korean peninsula and other issues of mutual concern'.
  • Trump adviser says Trudeau 'stabbed us in the back' at G7 summit

    Business

    Guy Verhofstadt, a former Belgian prime minister who as an MEP now co-ordinates Brexit talks for the European Parliament, mocked Mr Trump's temper and supposed closeness to Russian President Vladimir Putin in a series of tweets . "But it did not start with this G7, but with the election of Donald Trump ", said a European official. But lo, by the time I landed in Hong Kong to change flights I read that there was a joint communique.
  • Winner of $315 million Powerball jackpot comes forward

    Winner of $315 million Powerball jackpot comes forward

    Business

    This marks the second major lottery win in New Jersey this year. "Oh, my God.' It's like when you see a 'Tom and Jerry" cartoon: "The heart goes boom boom boom boom". The married father of four made a decision to take the money in a lump sum, so he'll get slightly more than $183 million after taxes. The jackpot - which has a cash value of $183 million - is the third largest New Jersey Powerball single-player win, according to officials.
  • Trump pitches ending trade tariffs at G-7 summit

    Trump pitches ending trade tariffs at G-7 summit

    Business

    Mr. Trudeau's office responded to Mr. Trump's tweets accusing the Canadian leader of "false statements" on Saturday, saying that the Prime Minister said nothing during the G7 summit that he had not said previously. "Don't blame Trump. It was Trudeau who started blasting Trump after he left, after the deals had been made". The group of seven nations that make up the G7 are Canada, France, the U.S., the UK, Germany, Japan and Italy.
  • Another lottery ticket worth $500000 sold in Thunder Bay

    Another lottery ticket worth $500000 sold in Thunder Bay

    Business

    OLG said in a release the winning Encore ticket was sold in Friday's Lotto Max draw. Friday's Lotto Max had a big prize of $60 million and the ticket for that was sold in Quebec. There were 37 winning Maxmillions tickets sold across the country, including 16 winning Maxmillions tickets sold in Ontario. According to the Ontario Lottery and Gaming Corporation, of the seven Maxmillions prizes drawn on June 8 worth $500,000, one ticket was sold in the Thunder Bay area.
  • Canada posts job losses in May, but wages increased

    Business

    The Bank of Canada laid the groundwork last week for more interest-rate hikes, bolstering expectations the central bank will move as early as its next meeting in July. Sectors gaining jobs included the accommodation and food services sector which added 18,000 jobs, helped by growth in British Columbia. In terms of employment types, the public sector added 12.9 k jobs, while private employment fell 4.8k.
  • Trump trade fury torpedoes Canada’s G7 summit

    Trump trade fury torpedoes Canada’s G7 summit

    Business

    On Saturday, Canadian Prime Minister Justin Trudeau sniped about "stragglers" after Mr Trump was late to a breakfast session on gender equality. Although Mr Trump said the tariffs are necessary to protect USA industry, Canada and the European Union have denounced them as illegal and are preparing retaliatory measures.
  • Gavin Patterson is out as BT CEO

    Gavin Patterson is out as BT CEO

    Business

    Mr Patterson's departure will end a near-five year stint as chief executive, having been at BT for a total of 14 years. This culminated in the May 2018 announcement that BT is to cut 13,000 jobs on top of a previously announced 4,000, as well as shutting down its City of London headquarters and embarking on a massive shake-up of its operating model.
  • Trump threatens US allies on trade as he exits G7 summit

    Business

    According to Trump, who blamed the US leaders who preceded him for the current trade deficits, the answer is a change in the entire worldwide trading system. "For the United States, frankly, it would be a good thing". "That doesn't mean I agree with what they are doing, and they know very well that I don't".
  • Trump threatens U.S. allies on trade as he exits G7 summit

    Trump threatens U.S. allies on trade as he exits G7 summit

    Business

    The US president floated the idea - which was received as somewhat rhetorical - as a meeting of the G7 leaders was breaking up. But Sasse said Trump's complaints that other countries have taken advantage of the United States are unfounded, adding that he recommended "less whining on the global stage".
  • Donald Trump to leave G7 early, tensions high after 'rant' over trade

    Business

    To United States, frankly, it would be a good thing but I'm not looking to do that. French President Emmanuel Macron stared at Trump after he sat down. President Donald Trump is pushing back on the idea that the U.S.is increasingly isolated on the world stage under his presidency, insisting his relationship with fellow word leaders is "a 10".
  • Lottery tickets sold in Victoria and Ladysmith worth $500K

    Business

    Another $1 million ticket has been sold in Sudbury. OLG said in a release the winning Encore ticket was sold in Friday's Lotto Max draw. After going unclaimed for several weeks, the $60 million dollar jackpot in Friday night's Lotto Max draw was won by a single ticket sold in Quebec.
  • Verizon names tech chief as CEO, putting network over content

    Verizon names tech chief as CEO, putting network over content

    Business

    Taking over the reigns will be Hans Vestberg, who joined the company just previous year as Executive Vice President and President of Global Networks and CTO at Verizon . Verizon is today announcing that its current CEO, Lowell McAdam , is leaving the position on August 1, 2018, exactly seven years after he took on the role.