Economy

EU's Michel Barnier rejects Theresa May's backstop proposal for Northern Ireland

EU's Michel Barnier rejects Theresa May's backstop proposal for Northern Ireland The assurance came after May held a series of meetings with Brexit supporters in her Cabinet amid reports that David Davis, the minister leading negotiations with the European Union , had threatened to resign because an earlier proposal could have forced Britain to follow the bloc's trade rules indefinitely. [Full Article...]

Putin says he warned Europe about U.S. trade threat, nobody listened

Putin says he warned Europe about U.S. trade threat, nobody listened Putin's 16th call-in marathon, which lasted 4½ uninterrupted hours, provided a window into the president's mind-set - and a prime display of the stagecraft that the Kremlin deploys to boost Putin's image and promote his worldview to Russian households. [Full Article...]

Salad Cream: Heinz 'considers Sandwich Cream re-brand'

Salad Cream: Heinz 'considers Sandwich Cream re-brand' Which is a bit like changing the name of tomato ketchup to "chips sauce" or HP renaming its sauce something like "bacon sandwich lubricant" or milk suddenly being called "cereal softener" or "tea lightener". Salad Cream could be about to get a brand new look. Just because salad cream is not used on salads. Launched in 1914, Salad Cream was the UK's fifth biggest-selling table sauce a year ago,... [Full Article...]

NTSB releases preliminary findings on March's fatal Tesla Model X crash

NTSB releases preliminary findings on March's fatal Tesla Model X crash Three seconds before the crash, the Model X increased its speed from 62 miles per hour (100 km/h) to 70.8 miles per hour (114 km/h). The National Transportation Safety Board's preliminary report on the crash gives a second-by-second account of the Model X's behavior as it approached the exit from southbound US 101 to Highway 85. [Full Article...]

Microsoft sinks data centre off Orkney

Microsoft sinks data centre off Orkney The hope is that it won't need as much fixing as a traditional data centre anyway, as the server submarine they're sinking will have most of the oxygen and moisture taken out of its atmosphere, hopefully reducing corrosion. It is also far quicker to deploy a data center offshore than build on land. Microsoft submerged one of its data centers in the Atlantic Ocean Wednesday as part of an effort... [Full Article...]

Social Security trust fund reserves on track to be depleted by 2034

Social Security trust fund reserves on track to be depleted by 2034 The report said that if the funds are depleted, the program could pay about three-quarters of benefits. In 16 years, Social Security will have to cut benefits by 21% if lawmakers do nothing to cure the program's long-term funding shortfall. [Full Article...]

Britain clears Rupert Murdoch's bid for Sky if it sells Sky News

Britain clears Rupert Murdoch's bid for Sky if it sells Sky News Therefore, the cultural secretary said he wants to ensure that Sky News remains financially viable over the long-term; operates as a major UK-based news provider; and remains editorially independent. The stock rose 0.3 percent to 13.54 pounds at 3:30 p.m.in London on Tuesday. Whereas, Disney has struck a deal to buy Fox's entertainment assets, including its stake in Sky. [Full Article...]

USA reaches deal with China's phone maker ZTE: Commerce Secretary

USA reaches deal with China's phone maker ZTE: Commerce Secretary Moreover, the U.S. Commerce Department is expected to count the $361 million ZTE paid previous year as part of a settlement agreement, which will allow the government to claim no less than $1.7 billion in penalties. Published reports suggested that the ZTE ban had become a bargaining chip in the Trump Administration's trade negotiations with China. An agreement that allows the crippled company t... [Full Article...]

DNA Testing Service MyHeritage Hacked

DNA Testing Service MyHeritage Hacked The company said that it doesn't store actual user passwords, but instead passwords encrypted with what's called a one-way hash , with a different key required to access each customer's data. Sensitive information, such as family tree or DNA data, are stored on segregated systems separate from the servers that store email addresses, and are fitted with additional layers of security. [Full Article...]

Trump tariffs are a wake-up call to other nations: Larry Kudlow

In addition to the tariff fracas, the two countries remain far apart in negotiations over a new version of the North American Free Trade Agreement, with dwindling prospects of a deal getting done anytime soon. Matthew Rooney, a former US state department official in charge of the Canada file during the Obama administration, said there have been hard times in the past. [Full Article...]

Model 3 is on target, says Elon Musk

Model 3 is on target, says Elon Musk Musk responded by saying that when he was younger, he and his brother used to ride motorcycles all the time for about eight years, but a near-death incident that happened to him will keep the electric auto company from venturing into electric motorcycle production. [Full Article...]

Canada Rejects U.S. Push To Replace NAFTA With Bilateral Trade Deal

Canada Rejects U.S. Push To Replace NAFTA With Bilateral Trade Deal Mexico has imposed new import tariffs on US goods, including pork products. U.S. pork processor Hormel Foods Corp markets products in Mexico and said it will closely monitor the impact of the tariffs. Certain cheeses and bourbon will be hit with 20% to 25% duties. While tariffs on these products won't have much of an impact on the overall USA economy, they could be especially painful for par... [Full Article...]

Google Won't Continue Its AI Drone Deal With Pentagon After Staff Protests

Google Won't Continue Its AI Drone Deal With Pentagon After Staff Protests The phrase served as company's motto from its founding days but was dropped from the official code of conduct in 2015, following Google's reorganization, with Alphabet Inc. Google plans to honor what is left of its contract on Project Maven, a source said. "Partnering with the best universities and commercial companies in the world will help preserve the United States' critical lead in artificial ... [Full Article...]

Crude Oil In Free Fall Amid Shale Boom

Crude Oil In Free Fall Amid Shale Boom Global benchmark Brent was down 10 cents, or 0.1 percent, at $76.69 a barrel by 0652 GMT. Data from market intelligence firm Genscape showed that between May 29 and June 1, crude inventories at the Cushing, Oklahoma, storage hub and delivery point for USA crude futures rose 210,046 barrels, a potentially bearish signal, traders who saw the data said. [Full Article...]

Qatar Airways CEO booed after saying a woman couldn't run his airline

Qatar Airways CEO booed after saying a woman couldn't run his airline The CEO of Qatar Airways , where women make up almost half the company's workforce, apologized for saying that a woman couldn't do his job because it was "very challenging". Two-fifths of Qantas Airways' senior management is female, including the heads of the worldwide and frequent-flier loyalty businesses, according to the airline's chief executive, Alan Joyce. [Full Article...]

California in spotlight on big primary day: What to watch

California in spotlight on big primary day: What to watch This list will be updated after all results are in late Tuesday night. Voters can still cast an early ballot at the Kingston and the Islands election returning office at the former Sears store at the Cataraqui Centre until June 6 at 6 p.m. [Full Article...]

China offers to buy $70 billion in US goods

China offers to buy $70 billion in US goods Treasury Secretary Steven Mnuchin declared the trade war to be "on hold". Mexico's trade negotiators designed the list, in part, to include products exported by top Republican leaders' states, including in where Vice President Mike Pence was formerly governor, according to a trade source familiar with the matter. [Full Article...]

No winning ticket for Friday night's $60 million Lotto max jackpot

No winning ticket for Friday night's $60 million Lotto max jackpot The win comes one day after a Lotto 6/49 ticket somewhere in the province won the $9.6 million jackpot on Wednesday. Marie and Sault and area won $500,000 each in separate Maxmillions draws. That victor hasn't come forward yet to claim their six-figure prize. The winning numbers were 2, 11, 17, 18, 22, 25, 39 with bonus number 3. A ticket purchased in Sudbury won $1 million, while another boug... [Full Article...]

Starbucks leader Howard Schultz is leaving the coffee copmany

Starbucks leader Howard Schultz is leaving the coffee copmany In his letter , Schultz also credited the company with "balancing profitability and social conscience, compassion and rigor, and love and responsibility". I'm not exactly sure what that means yet ... "Starbucks changed the way millions of people drink coffee, this is true, but we also changed people's lives in communities around the world for the better", Schultz said in a letter to Starbucks... [Full Article...]

Apple's new phone software speeds up older devices

In April, it poached a top Google executive to spearhead its machine learning and AI efforts, so a preview of Siri improvements could also be on the table. Users can then set time usage limits per app, giving them a notification if they reach a daily time usage limit. Apple will group notifications so that they no longer appear one by one. [Full Article...]


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