Markets

I've parked your Porsche on a lower level, sir

I've parked your Porsche on a lower level, sir Most likely, the valet mistook drive for reverse, but it's still hard to comprehend why, when he saw the vehicle moving forward, he continued to press the accelerator pedal. The black Porsche, its bonnet and front bumper crunched and dented, was then backed on to a tow truck. Witness Jonathan Bayle told the Australian Broadcasting Corporation that he thought the incident was from a televisio... [Full Article...]

WTI jumps above $68.00 on OPEC headlines

WTI jumps above $68.00 on OPEC headlines The discordance in prices signals how uncertainty over supply is playing out with varying impact on different corners of the oil market. WTI for July delivery fell as much as 3.1 percent to $65.80 a barrel and traded at $66.96 on the New York Mercantile Exchange as of 2:45 p.m.in London. [Full Article...]

Futures for Brent oil reached the level of 77,31 dollars per barrel

Futures for Brent oil reached the level of 77,31 dollars per barrel Global benchmark Brent LCOc1 fell 91 cents to $76.65 per barrel. Concerns about growing US crude production and a glut trapped inland due to a lack of pipeline capacity have pressured prices of WTI, doubling its discount to Brent over the course of a month. [Full Article...]

SoftBank invests $2.25 bn in GM's self-driving venture

SoftBank invests $2.25 bn in GM's self-driving venture SoftBank has also taken a substantial stake in Uber , widely reported at the time of the investment in 2017 to have discounted the private ride-hailing company's lofty valuation . SoftBank could have picked Ford as its American partner. GM's board chair and chief executive , Mary Barra , has been able to harness all three. [Full Article...]

Watchdog begins crackdown on high-cost credit and bank overdrafts

Watchdog begins crackdown on high-cost credit and bank overdrafts It feels the "need to intervene to protect financially vulnerable customers". The FCA said it was also consulting on banning the sale of extended warranties when a rent-to-own contract is signed, which could save consumers up to 7.7 million pounds per year. [Full Article...]

ANZ facing action over .5bn placement

ANZ facing action over .5bn placement ANZ said it would also defend allegations against an employee. "It will be alleged that ANZ and the individuals were knowingly concerned in some or all of the conduct", ACCC Chairman Rod Sims said in a statement Friday. All three banks insisted they had done nothing wrong. ANZ said it believed that it had acted in accordance with the law and meant to defend itself. [Full Article...]

Northern Rail timetable change

Northern Rail timetable change Both Northern and the Department for Transport have been asked for a response. The operator says it will continue to run more trains than it did before the timetable change, and plans to get back to a full timetable by the end of July. Network Rail's chief executive Mark Carne said: "There is no doubt that the May timetable was finalised significantly later than normal for reasons that were bot... [Full Article...]

Qantas and Air New Zealand to codeshare

Qantas and Air New Zealand to codeshare However, trans-Tasman and other worldwide flights are excluded from the arrangement, which remains firmly planted on each airline's home turf. Earlier today, both Australia and New Zealand's national carriers announced brokering a new codeshare deal set to make travel easier for both flyers here and over the ditch. [Full Article...]

Fair Work Commission increases minimum wage by 3.5%

Liquor servers will make a minimum of $11.40 per hour, an increase of $1.30 per hour. It advised the government on an approach to raising provincial minimum wages with increases that are regular, measured and predictable. Greens MP Adam Bandt said the decision would leave many full-time workers living in poverty, even though the economy was apparently strong. However, the FWC said the national... [Full Article...]

AM: 'Non-Profitable' Sears, Kmart Stores To Close

AM: 'Non-Profitable' Sears, Kmart Stores To Close The Kmart on East Busch Boulevard and the Sears at Citrus Park Mall are closing as Sears Holdings tries to stem the bleeding from its long-running sales crisis. There will also be a new entry to the mall, with restaurants on both sides. The closings come as the company deals with sluggish sales. The company posted a diluted loss per share of $3.93 on revenues of $2.89 billion. [Full Article...]

Visa transactions hit by service outage

Visa transactions hit by service outage Before then, in north Belfast, shopping trolleys piled high with weekly shopping were ditched by frustrated customers at one Asda store. A statement issued by the company this evening suggested it did not know the cause of the problem. The BBC posted a picture of a London supermarket worker standing outside holding a sign reading: "cash only". The Bank of Ireland confirmed on Twitter that ... [Full Article...]

EU, Canada And Mexico Threaten Tariffs To Retaliate Against U.S.

EU, Canada And Mexico Threaten Tariffs To Retaliate Against U.S. They come as the two countries, along with Mexico , try to hammer out a renegotiated North American Free Trade Agreement and a week before Trump sets foot on Canadian soil for the first time as president, in the G7 summit that Trudeau is hosting in Quebec. [Full Article...]

Marchionne ramps up SUVs as prepares to hand over Fiat Chrysler wheel

Marchionne ramps up SUVs as prepares to hand over Fiat Chrysler wheel FCA promised eight models in the lineup, aiming to turn Chrysler into a volume brand that would have rivaled Chevrolet and Ford . However, conspicuous by its lack of detail was information on the group's budget brands namely Fiat , Chrysler and Dodge . [Full Article...]

MSCI president expects more Chinese A-share inclusion plans by year end

MSCI president expects more Chinese A-share inclusion plans by year end After five years of discussions with worldwide investors, MSCI's decision on A-share inclusion recognises China's increasing importance in the global economy. "MSCI's inclusion of A shares to its indices is a defining moment in the internationalisation of Mainland China's capital market, but this is just the beginning", said HKEX Chief Executive Charles Li. [Full Article...]

Petronas buys into LNG Canada project

Petronas buys into LNG Canada project Petronas announces today its Canadian unit is buying a 25% stake in a Shell-led LNG project. The buy-in is still subject to various regulatory approvals, and will take a few months to be finalized. Petronas' interest will be held through its wholly-subsidiary North Montney LNG Limited Partnership (NMLLP). Once both phases are executed, the project could add up to 70 million tonnes of equity ... [Full Article...]

Google plans not to renew military deal protested by employees

Google will publish new principles next week to help govern how the company handles AI in the future. Given Google cofounder Sergey Brin's desire to see militaries work with global companies instead of smaller contractors, we may someday live in a world where Google coordinates warfare just as well as Google Maps does traffic. [Full Article...]

Trump's Early Tweet on Jobs Upends Decades of Market Data Norms

Trump's Early Tweet on Jobs Upends Decades of Market Data Norms A booming jobs report and signs the economy is expanding at a healthy pace despite global trade disputes proved too much for President Trump to keep quiet about Friday. Former Obama and Bush administration officials noted Trump had appeared to break the federal protocol. "The United States has been taken advantage of for many decades on trade", Trump said in a statement. [Full Article...]

Rajoy ousted by man he beat twice in polls

Rajoy ousted by man he beat twice in polls There have been three other such votes since Spain returned to democracy following the death of long-time dictator Francisco Franco in 1975, including one against Rajoy a year ago. Sanchez has promised to abide by the 2018 budget negotiated by Rajoy, and most observers do not forecast any abrupt or radical change in governing. [Full Article...]

USA smashes expectations for new jobs as unemployment edges down

Job gains in May were across all sectors. Even if the number of new jobs is fewer than expected, May would be the 92nd straight month of job growth in the U.S. And anecdotally, companies continue to lament about how hard it is to fill positions for highly skilled workers . There were notable shortages of truck drivers, sales personnel, carpenters, electricians, painters, and information tech... [Full Article...]

Google Won't Seek to Renew Pentagon Contract After Internal Backlash

Some employees apparently didn't buy it, and around a dozen quit - thousands more signed a petition protesting the company's involvement . Targets acquired: As first reported by Gizmodo , Google has been supplying technology and know-how to the USA military for automating the analysis of drone footage. [Full Article...]


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