Business

Deutsche Bank offices searched in money laundering probe

Deutsche Bank offices searched in money laundering probe Prosecutors said that, as a result of the leak, they are looking at whether Deutsche Bank assisted clients to set up offshore companies in tax havens so that funds transferred to their bank accounts could skirt anti-money laundering safeguards. [Full Article...]

New Tariffs Could Raise Console Prices in the US

New Tariffs Could Raise Console Prices in the US Trump intends to raise existing tariffs from 10% to 25%, while also looking at other imports that don't now have tariffs imposed on them. The UBS analyst Timothy Arcuri said those threats could simply be a "negotiating tactic" ahead of the G20 summit, when Trump is expected to meet with Chinese President Xi Jinping . [Full Article...]

Trump threatens to cut General Motors subsidies as carmaker axes jobs

Trump threatens to cut General Motors subsidies as carmaker axes jobs You better get back in there soon. GM did not respond to a request for comment. GM electric vehicles are eligible for a $7,500 (£5,848) tax credit under federal law. It could also prompt other automakers like Ford (f) to make similar layoffs. Under that deal, Carrier pledged to keep almost 1,100 jobs in Indianapolis, including some 800 furnace production jobs it planned to cut with outsourci... [Full Article...]

General Motors shuttering plants, cutting 15% of workforce

General Motors shuttering plants, cutting 15% of workforce Plants in Baltimore, Maryland, and Warren, Michigan that assemble powertrain components will have no products assigned to them after 2019 and thus are at risk of closure, the company said. "The first thing I said is, 'What can we do?" GM added that it expects to save some $6 billion by the end of 2020. Jerry Dias, president of Unifor, the Canadian labour union, said he "will vigorously fight a... [Full Article...]

Second generation Range Rover Evoque comes over all grown-up

Second generation Range Rover Evoque comes over all grown-up Power will likely come from a selection of four-cylinder turbocharged petrol and diesel engines, while a plug-in hybrid model could be on the cards too. It's not just a simple re-hash though. Steering wheel on 2020 Range Rover Evoque looks borrowed from the Velar . The latter is perhaps acknowledgment that most Evoques spend the majority of their lives in the metropolis. [Full Article...]

U.S. government asks allies to drop Huawei equipment, WSJ says

U.S. government asks allies to drop Huawei equipment, WSJ says Officials from the USA have reached out to counterparts and executives in countries including Germany, Italy and Japan about perceived cybersecurity risks, the Journal said, citing unidentified people familiar with the matter. "Huawei is surprised by the behaviours of the U.S. government detailed in the article", a Huawei spokesperson told TechRadar Pro . Officials working for President Donal... [Full Article...]

Wall Street recovers some ground as technology stocks bounce back

Wall Street recovers some ground as technology stocks bounce back Major technology companies including Apple and Microsoft rose Wednesday, and crude oil prices climbed 3.8 percent a day after sinking to their lowest level in a year. The Dow is down 947.58 points, or 3.7 percent. Apple sank 4.8 percent Tuesday and retailers also fell sharply. United States. -traded shares of Nissan lost 5.8 percent to $16.90. [Full Article...]

Best Windows laptops Black Friday deals: Dell, HP, Lenovo, and more

Best Windows laptops Black Friday deals: Dell, HP, Lenovo, and more LG brand 60in 4K TV was advertised at £799 by Amazon on Black Friday . In recent years, several stores have begun extending Black Friday into Thanksgiving Day itself, opening after the turkey has been finished to allow maximum potential shopping time. [Full Article...]

RBI move a small victory for govt, say Finance Ministry officials

RBI move a small victory for govt, say Finance Ministry officials It was also agreed that the membership and terms of reference of the panel will be jointly determined by the government and the Reserve Bank of India . The government and independent board members like S Gurumurthy have been pressing the central bank to provide more liquidity to non-banking finance companies (NBFCs), ease lending rules to small businesses, relax norms for weak banks and part wi... [Full Article...]

Renault: remains focused on alliance with Nissan and Mitsubishi

Renault: remains focused on alliance with Nissan and Mitsubishi The Japanese and French governments have confirmed their support for the Renault-Nissan-Mitsubishi alliance, the industry leader with 10.6 million vehicles sold in 2017. Finance Minister Bruno Le Maire had said earlier Tuesday that Ghosn was not in position to lead the Renault Group while fighting the accusations in Japan. [Full Article...]

Oil prices slip amid broad market sell-off that outweighs expected OPEC cuts

Oil prices slip amid broad market sell-off that outweighs expected OPEC cuts Brent crude has lost 26 percent in the same period. The global benchmark fell as much as 5.1 percent to $63.36, the lowest since early March. Tuesday's drop extended a slide that has been largely unimpeded since early October. Amid the uncertainty, financial traders have become wary of oil markets, seeing further downside risk to prices from the growth in USA shale production as well as the dete... [Full Article...]

Nissan boss Carlos Ghosn arrested for suspected financial misconduct

Nissan boss Carlos Ghosn arrested for suspected financial misconduct Nissan says it will oust Renault CEO Carlos Ghosn "serious act of misconduct ". The Yokohama-based company said the alleged violations involving millions of dollars by Ghosn, 64, and another executive were discovered during a months' long investigation that was instigated by a whistleblower. [Full Article...]

The hunt is on for Black Friday savings

The hunt is on for Black Friday savings When Black Friday arrived in the United Kingdom five years ago, the promise of a bargain led to scuffles as shoppers scrambled to pick up deals . The offer ends on Friday 27 November unless stated. Deals the company is highlighting include the new Echo Dot for $24, 40% off on toys from Mattel, 40% off apparel and shoes from Adidas, 25% off Amazon Basics items, and $100 off an Xbox. [Full Article...]

Aerial aftermath of deadly wildfire in Butte County

Aerial aftermath of deadly wildfire in Butte County An army of firefighters, many from distant states, laboured to contain and suppress the flames. The high number of missing people probably includes some who fled the blaze and didn't realize they had been reported missing, Butte County Sheriff Kory Honea said. [Full Article...]

Apple suppliers tumble on as weak iPhone demand persists

Apple suppliers tumble on as weak iPhone demand persists Concerns over iPhone sales growth and a cut in forecasts from a number of Apple suppliers have investors anxious about the outlook for the world's largest company. Robert Cihra at Guggenheim on Wednesday downgraded shares of Apple to Neutral from Buy and the firm removed their price target on the stock; previously, Guggenheim had a $245 price target on shares. [Full Article...]

Amazon picks New York, Virginia for headquarters

Amazon picks New York, Virginia for headquarters Locating close to the Pentagon may also help Amazon win a $10 billion cloud-computing contract from the US Department of Defense, said Michael Pachter, an analyst at Wedbush Securities. The proposal would have given a 100 percent property tax abatement for the headquarters site, and reimburse Amazon up to $75 million for land acquisition and site preparation after 15 years. [Full Article...]

Oil Prices Tumbled, but the Bear Market Didn’t Solve This Big Problem

Oil Prices Tumbled, but the Bear Market Didn’t Solve This Big Problem The news about Saudi Arabia cutting down on crude output, thus, ensured that on Monday, 12th of November , the price of Brent crude rose by 1%. He noted that in 2015 when OPEC lifted its output by about 2 million barrels a day, just over 2% of global demand at the time, oil prices decreased by roughly a third, while oil stocks experienced a simultaneous plunge. [Full Article...]

US Fed leaves rates unchanged

US Fed leaves rates unchanged The statement reflected little change in the USA central bank's outlook for the economy since the last policy meeting in September, with inflation remaining near its 2 percent target, unemployment falling and risks to the economic outlook appearing to be "roughly balanced". [Full Article...]

GOP, Democrats Splitting Governor’s Races in Key States

GOP, Democrats Splitting Governor’s Races in Key States His searing nationalist rhetoric and tearing of cultural fault lines drew criticism that he had crossed a risky line after a gunman killed 11 people in a synagogue massacre in Pittsburgh and a Trump supporter mailed bombs to the President's top targets in politics and the media, including two former Presidents. [Full Article...]

Democrats seize US House in rebuke to Trump

Democrats seize US House in rebuke to Trump He was due to be joined by Republican megadonor Sheldon Adelson, Blackstone CEO Stephen Schwarzman and the President's ex-campaign aides, David Bossie and Corey Lewandowski, a source familiar with the guest list said . The Democrats benefited from extraordinary voter enthusiasm, robust fundraising and unusually fresh candidates. Pennsylvania looked particularly daunting for Republicans after ... [Full Article...]


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