Markets

by | February 18, 2019 | 20:39

According to a written reply by Finance Ministry in Rajya Sabha on February 12, the RBI transferred Rs 40,000 crore in August 2018 as excess surplus to the government. After failing to arrive at a consensus, the government and the RBI set up a committee under former RBI governor Bimal Jalan to determine the level of reserves that the RBI should hold.

by | February 18, 2019 | 19:51

It was just about two years ago that Payless ShoeSource made a surprise announcement that they would be closing hundreds of stores across the country. According to the company, Payless employs more than 18,000 associates and has 3,600 stores worldwide. The online store will also be closing. Payless will join other brick-and-mortar retailers that have been forced to fold in recent years under the weight of debt.

by | February 18, 2019 | 18:55

Aviation Analyst can exclusively reveal that the immediate future of British regional airline Flybmi is at risk, with the airline facing imminent collapse. The airline has several partnerships with worldwide carriers. Flybmi operated a code share partnership with Lufthansa, Brussels Airlines, Turkish Airlines, Loganair, Air France and Air Dolomiti.

by | February 18, 2019 | 18:49

The report will include recommendations on how to respond to Chinese espionage risks from Huawei to 5G networks , according to a source cited by the FT. While NCSC did not directly comment on the FT report, it reiterated earlier concerns about Huawei's engineering and security capabilities. 'We have set out the improvements we expect the company to make.

by | February 18, 2019 | 17:21

Oil headed for its biggest weekly gain in a month as the OPEC+ coalition's supply cuts and reduced output from the world's biggest offshore field overshadowed renewed concern over the U.S. "Brent should average $70 per barrel in 2019, helped by voluntary (Saudi, Kuwait, UAE) and involuntary (Venezuela, Iran) declines in OPEC supply", Bank of America Merrill Lynch said.

by | February 18, 2019 | 17:10

Another one bites the dust? Payless , which bills itself as the "largest specialty family footwear retailer in the Western Hemisphere", was founded in 1956 and is a privately held company owned by an group that includes Alden Global Capital, Invesco Senior Secured Management, and Octagon Credit Investors.

by | February 18, 2019 | 16:09

Last week, Amazon ended its Queens, Long Island, plan, citing a lack of political support . Amazon announced on Thursday that it had cancelled its plans to build a new headquarters in New York City , giving in to vocal opposition from local politicians and activists who were particularly enraged about the roughly $3 billion in tax breaks that Amazon had been offered to come to the Big Apple.

by | February 18, 2019 | 08:41

The potential Tesla rival late past year unveiled an electric pickup truck and an electric sport utility vehicle at an auto show in Los Angeles. In backing Rivian , Amazon is making a second auto investment in short order. Amazon has invested $700 million into electric vehicle manufacturer Rivian , following the launch of its all-electric truck and SUV. It's unclear whether the potential deal would include GM taking an equity stake.

by | February 15, 2019 | 09:23

Ghosn, who was sent by Renault to lead a turnaround at Nissan after its near-bankruptcy in 1999, has remained in custody at the Tokyo Detention Centre since his arrest in November. Hironaka's office said the attorney was out. "I look forward to defending myself vigorously, and this represents the beginning of the process of not only establishing my innocence but also shedding light on the circumstances that led to my unjust detention", the Franco-Brazilian-Lebanese executive said.

by | February 15, 2019 | 06:00

Eeros's most popular system is priced at US$399 (A$561) and can include a one-year subscription service for US$99 (A$139), according to its website. Amazon could eventually let users control their Eero router using Alexa voice commands, Russell says , making it easier to add or remove devices from the network, or turn off internet access to select devices.

by | February 15, 2019 | 05:16

Unlike bitcoin , only big institutional clients of J.P. Morgan that have undergone regulatory checks, like corporations, banks and broker-dealers can use the tokens. "Money sloshes back and forth all over the world in a large enterprise", Farooq continued. It will be launched in a test mode in the coming months.

by | February 14, 2019 | 21:52

This prompted the New York Post front page headline: " Bezos exposes Pecker". Bezos has said AMI threatened to publish explicit photos of him unless he stopped investigating how the Enquirer obtained his private exchanges, and publicly declared that the Enquirer's coverage of him was not politically motivated.

by | February 14, 2019 | 21:38

Public officials from places such as Miami , Toronto and Syracuse in Upstate New York have issued public statements trying to capitalize on the kerfuffle between local New York City lawmakers and the multi-billion dollar company.

by | February 14, 2019 | 20:53

The Reuters source says the deal could be announced as early as this month but cautions nothing is final yet. An investment in Rivian could help GM get an electric pickup to market faster and help ward off upstarts such as Tesla Inc. He added that the company plans to partner with outside firms to develop advanced self-driving technology, rather than try to do so on its own. GM CEO Mary Barra has said it has given a "tiny bit" of thought to developing all-electric pickups.

by | February 14, 2019 | 20:39

The companies didn't disclose the purchase price Monday when they announced the acquisition . According to PitchBook, Eero was last valued at US$125 million in a Series D in 2017, and is backed by firms such as Shasta Ventures and Qualcomm.

by | February 14, 2019 | 18:27

Last week, Tesla lowered the price of its Model 3 sedan for the second time this year to make its cars more affordable for US buyers. "Set Keep Climate On to DOG, make adjustments within temperature limits, then leave knowing your pet will stay comfortable", according to Tesla's release notes , published by Mashable.

by | February 14, 2019 | 16:55

Trump in December postponed plans to sharply hike tariffs on US$200 billion of Chinese imports to allow more time for negotiation. The country's trade surplus in January totaled $39.16 billion, beating economists' expectations. Since then China has offered to close its trade surplus with the USA by buying more soyabeans and other commodities, but the Trump administration is pushing for a more comprehensive agreement that addresses intellectual property theft, technology transfer and ...

by | February 14, 2019 | 13:11

Emirates also has orders for 35 Boeing 777-8 and 115 777-9, with options for 50 more. The A320 is a narrow-body jet which in December had been ordered by more than 70 airlines, and is now used by the likes of American Airlines, Lufthansa, China Eastern Airlines and China Southern Airlines.

by | February 14, 2019 | 12:45

But they have resisted making major changes in development plans they see as a path to prosperity and global influence. An American delegation is in Beijing to conduct bilateral trade talks with China . Trump said last week they plan to meet, but not before the March 1 deadline. During an interview Monday, White House Counselor Kellyanne Conway said the president wants to meet with President Xi very soon.

by | February 14, 2019 | 10:57

Brent crude futures continue to track higher with bulls eying a break above the 2019 peak ($63.63/bbl). The Organisation of Petroleum Exporting Countries ( Opec ) said it tightened its crude taps to cut nearly 800,000 barrels a day from its oil exports in January after vowing to drain excess oil from the oversupplied market.