Economy

Deloitte , which has been co-ordinating efforts to find a solvent deal for the business, is expected to oversee the administration of Poundworld. But its losses widened to £17.1 million for the financial year ending March 31, 2017 versus a £5.4 million deficit from the previous 12 month period.
  • Euro enjoys second day of relief as Italian tensions ease

    Euro enjoys second day of relief as Italian tensions ease

    Economy

    The political upheaval will likely lead to new elections, and investors are interpreting the new vote as a referendum and that Italy could move closer to abandoning the euro if populist parties win the election. The 1.1500 level also corresponds to trend line support from the December 2016 lows at 1.0340. The Canadian dollar stood at C$1.2945 to the US dollar, after falling 0.65 percent the previous day.
  • Amazon geoblocks Australia from USA site as tax change kicks in

    Economy

    The online retail behemoth announced this week it will block Australians buying goods from overseas. Amazon announced plans to block Australian users from ordering from its main U.S. As a placation, Australian customers will also have access to 4 million products that were previously available only on Amazon.com through its new Global Store.
  • Sears to close another 72 U.S. stores

    Sears to close another 72 U.S. stores

    Economy

    See "Related Links" on the right side of this story for a full list of the 72 Sears and Kmart stores slated to close. "Customers can use the store locator function on our websites to find the location of their nearest Kmart and Sears stores", the company reports.
  • Mocking The Common Man, Petrol Prices Cut By One Paisa

    Mocking The Common Man, Petrol Prices Cut By One Paisa

    Economy

    After the 1 paisa cut, petrol in Delhi now costs Rs 78.42 per litre and diesel Rs 69.30. However, within a span of a few hours, those changes were deleted and instead a measly reduction of 1 paise a litre in both the auto fuels was announced.
  • Tesla in 'Autopilot' mode crashes into parked police vehicle

    Tesla in 'Autopilot' mode crashes into parked police vehicle

    Economy

    In Greece, a Tesla Model 3 crashed after the autopilot caused the vehicle to suddenly veer right "without warning". There were two injuries. This isn't just a legal way of covering its back - driverless cars may be safer than human drivers (low bar that this is), but Tesla's features aren't there yet.
  • FBI Warns About Hackers Infecting Routers to Collect Information

    FBI Warns About Hackers Infecting Routers to Collect Information

    Economy

    Hundreds of thousands have been infected with malware in the latest cyber threat . Most devices in homes and businesses come equipped with default credentials which are easily stolen by hackers . This will help neuter the threat and help the Federal Bureau of Investigation identify infected devices. The FBI is urging owners of office and home office routers to reboot after a "significant" malware attack.
  • Cheap petrol: Not a chance! Supermarkets raise fuel prices every day

    Cheap petrol: Not a chance! Supermarkets raise fuel prices every day

    Economy

    While the price of diesel in Delhi is Rs 69.31/litre and it is Rs 73.79/litre in Mumbai. In addition, price in Kolkata inched up to Rs 80.76, against 80.61 per litre on the previous day. dollar was causing the fuel price hike . The Central government levies Rs 19 .48 excise duty on a litre of petrol and Rs 15.33 on diesel. Amid the rise in fuel prices, crude oil futures fell 2.73 per cent to Rs 4,485 per barrel on Monday, in line with the weak trend overseas as the market eyed an ...
  • Starbucks anti-bias training to teach staff about stereotypes, civil rights movement

    Starbucks anti-bias training to teach staff about stereotypes, civil rights movement

    Economy

    Starbucks locations across the country will close their doors Tuesday afternoon to train 175,000 employees about racial bias in one of the largest corporate responses to an incident involving racial profiling. "Our hope is that these learning sessions and discussions will make a difference within and beyond our stores". Starbucks recently announced a new policy that allows anyone to sit in its cafes or use its restrooms, even if they don't buy anything.
  • Fiat Chrysler recalls more than 5.3 million cars

    Fiat Chrysler recalls more than 5.3 million cars

    Economy

    Drivers are still able to slow down their vehicle by hitting the brakes or shifting into neutral, CNN reports . It was separately fined $70 million by USA regulators in 2015 for failing to report vehicle crash deaths and injuries since 2003.
  • Russia's Novak: return to October'16 oil output levels possible

    Russia's Novak: return to October'16 oil output levels possible

    Economy

    A production boost would mark at least a partial reversal for OPEC, which cut output by 1.8 million barrels a day in January 2017 to relieve a global oil glut and support prices. Saudi Arabia is concerned the de facto leader of OPEC. On Friday, many statements by OPEC officials and Russian Federation came to reflect a change in the general trend, which until a few days ago had been backing an extension of the agreement till 2018 ends.
  • Petrol, Diesel prices to decline as crude oil prices drop internationally

    Petrol, Diesel prices to decline as crude oil prices drop internationally

    Economy

    For relief to consumers, states will also have to cut Value-Added Tax. States too would be asked to cut sales tax or VAT to show a visible impact on retail prices. In the last few days, fuel prices have touched record highs, with petrol costing Rs 76.87 per litre in Delhi and diesel Rs 68.08 a litre. Similarly, it is high time both the Government and common public cut their consumption of fuel, which will reduce out import burden of petrol and diesel.
  • President Trump delivers commencement speech at US Naval Academy

    President Trump delivers commencement speech at US Naval Academy

    Economy

    The commander-in-chief praised America's booming prosperity, where he said we are proud again as America rediscovers its identity and regains its stride. The president also said First Lady Melania Trump is doing well, after spending most of last week in the hospital after a kidney procedure. "The best way to prevent war is to be fully prepared for war", said Trump, hoping that the grads would never have to use their "beautiful, new, powerful equipment".
  • Comcast closing in on plan to challenge Disney's Fox bid

    Comcast closing in on plan to challenge Disney's Fox bid

    Economy

    As US market growth slows, growth has to come from overseas and Hollywood is seeing the same trend. Philadelphia-based Comcast has already made a 22 billion pound ($30 billion) offer to acquire the 61% stake in European pay-TV group Sky Plc that Fox doesn't already own.
  • Iran: Trump's Sanctions Can't Touch Our Oil

    Iran: Trump's Sanctions Can't Touch Our Oil

    Economy

    Iranian leader Khamenei on Wednesday published conditions the three European signatories of the 2015 Iranian nuclear deal - Germany, Britain and France - must accept to guarantee Iran stays in the agreement. The statement comes after U.S. Secretary of State Mike Pompeo announced new policy goals for U.S. dealings with Iran. President Donald Trump's new top diplomat offered remarks on Monday that outlined 12 "demands" of Iran, including a complete end to its nuclear program, its ...
  • Jared Kushner has security clearance restored, lawyer says

    Jared Kushner has security clearance restored, lawyer says

    Economy

    Kushner's access was downgraded in February when White House Chief of Staff John Kelly ordered that officials with interim clearances be cut off if they hadn't received permanent clearances. Kushner is leading a Trump effort to resurrect the Israeli-Palestinian peace process and has been a Trump conduit to Mexico, among other activities.
  • US Surgeon General helps sick passenger on flight

    US Surgeon General helps sick passenger on flight

    Economy

    It was not immediately clear what situation Adams was referring to and what happened on the flight. Adams tweeted that the patient was doing well and, like a good public health service doctor, he was happy to assist. Shortly after Dr. Adams posted the selfie, in which it appears he is still on board the plane, Delta replied - thanking him for volunteering, for his service, and for sharing the news.
  • Trump Discloses More Than $100000 Payment to Michael Cohen in Financial Form

    Trump Discloses More Than $100000 Payment to Michael Cohen in Financial Form

    Economy

    Trump's financial disclosure, released by the Office of Government Ethics, did not specify the objective of the payment. Trump repaid Cohen $100,001 to $250,000 in 2017, according to a footnote in the filing. It said the payments continued because the contract could not have been terminated. Later that week, the president said the newly hired Mr Giuliani needed time to "get his facts straight".
  • Kroger Co (KR) Makes International Deal To Boost Online Grocery Shopping

    Kroger Co (KR) Makes International Deal To Boost Online Grocery Shopping

    Economy

    Ocado will partner exclusively with Kroger in the US, enhancing the Cincinnati-based grocer's digital and robotics capabilities and help expand its seamless coverage area. The duo will identify up to a total of 20 over the first three years of the agreement. Ocado uses purpose-built robots, which are capable of picking a 50-item order in minutes, to man its automated warehouses, Paul Clark, Ocado Chief Technology Officer, wrote in the Harvard Business Review .
  • Petrol, diesel, Kerosene dearer by Rs 2 per litre

    Petrol, diesel, Kerosene dearer by Rs 2 per litre

    Economy

    The fuel prices in India have hit an all-time high since 2013 in major metro cities. The oil prices are now revised everyday at 6 am, after state-owned oil companies made a decision to do away with the 15-year-old practice of revising fuel prices on the 1st and 16th of every month.