Markets

Chipotle slumps 8 percent after OH outlet linked to food poisoning complaints

In 2015, Chipotle's business almost dried up after an E.coli outbreak that spanned 11 states, leading the company to undertake a chain-wide safety retraining in early 2016 that closed all 2,000 of its stores for a day. An outbreak of E. coli hit the Chipotle chain in 2015, resulting in numerous customers getting sick at locations across 11 states. "Our protocols identified a handful of illness... [Full Article...]

China threatens retaliation if United States doubles proposed tariffs

The US imposed 25 percent tariffs on US$34 billion of Chinese products in early July, and the review period on another US$16 billion of imports ends Wednesday. The U.S. had earlier threatened to impose 10 percent tariffs on those goods. Mr Trump directed USTR chief Robert Lighthizer to raise the tariff rate to 25 per cent, the people said. [Full Article...]

RBI hikes repo rate by 25 basis points

For the July-September quarter, RBI pegged CPI-based retail inflation at 4.2 per cent which it sees firming up further to 4.8 per cent in the second half of the current fiscal. The rate hike comes on back of rising retail inflation concerns, which rose to a five-month high of 5 per cent in June on costlier oil prices. It has hiked the repo rate for the second consecutive month. [Full Article...]

MoviePass Announces Major Changes to Service; Will Black Out New Releases

And some major releases will be "limited in their availability" on the service for the first two weeks they're in theaters. But, Variety notes, this is only a temporary measure for MoviePass , which has been burning through its cash since it first implemented its radical price drop from $50 a month to $10 a month in August of a year ago. [Full Article...]

Uber ends self-driving truck development

Uber ends self-driving truck development Eric Meyhofer, the head of Uber Advanced Technologies Group, said in a statement: "We've made a decision to stop development on our self-driving truck program and move forward exclusively with cars". It claimed that Levandowski had stolen trade secrets from Google, and supplied them to his new employer, Uber . Uber said it will move employees working on self-driving trucks to other internal... [Full Article...]

Huawei knocks off Apple to become No. 2 smartphone seller

Huawei knocks off Apple to become No. 2 smartphone seller Not only that, but Counterpoint reports that during the second quarter of this year OnePlus shipped more premium phones than Samsung for the first time in its history. Apple , Huawei and Samsung were the main contenders when it came to competition for high-end smartphones priced at $700 or more, according to Reith. [Full Article...]

Apple boosted by selling more expensive iPhones

Apple boosted by selling more expensive iPhones Apple's figures also reflect increasing demand for products including Apple Watch, once considered a weak offering, but which sold around 3.5m units during the quarter, an increase of 30% year on year-on-year. This segment includes Apple Music , App Store sales as well as Apple Care and iCloud subscriptions. But several of Apple's services do not face strong rivals. [Full Article...]

MoviePass Users Are Reporting Widespread Outages - Is The Service Dead For Good?

That, and its misguided ventures into movie distribution and production, made MoviePass seem like it was being run by three toddlers in an oversized trench coat. "Let your theater know you want them to partner with MoviePass ". MoviePass has also confirmed that it won't be supporting the "major new releases" anymore at launch. [Full Article...]

MoviePass is raising prices, limiting new movies to save itself

Blocking the popular movies from MoviePass could help reduce the costs for the business, since the company pays full price for every admission. Implementation of additional tactics to prevent abuse of the MoviePass service. Now, the latest language makes it sound like MoviePass won't be available to use during any kind of release of any kind of substantial size. MoviePass said action... [Full Article...]

YouGov Poll: UK voters support a referendum on final Brexit deal

YouGov Poll: UK voters support a referendum on final Brexit deal Meanwhile, a petition launched Wednesday by The Independent online newspaper calling for a new referendum is approaching 300,000 signatures - challenging May's declaration that there will be no second vote. Public support for a new referendum is split along Leave/Remain lines, with just 19% of Leavers backing a new poll, compared with 66% of those who voted to Remain. [Full Article...]

Harley-Davidson rebels with an electric motorcycle

Harley-Davidson rebels with an electric motorcycle The company will continue to develop improved touring and cruiser motorcycles and launch new modular 500cc to 1250cc middleweight platform of motorcycles, starting with a 1250cc custom model and a 975cc Streetfighter model in 2020, it said. [Full Article...]

How to Get a Free Big Mac at McDonald’s

How to Get a Free Big Mac at McDonald’s Last year, the Burger chain sold 1.3 billion BigMacs so it is easy to see why they made the decision to dive into the cryptocurrency world. McDonald's has been an influential global force over the years, and its burger prices have even become an indicator for the purchasing power of an economy. [Full Article...]

Has Elon Musk been reduced to selling trinkets to keep Tesla afloat?

Has Elon Musk been reduced to selling trinkets to keep Tesla afloat? Priced at $1,500 United States dollars, only 200 boards will be produced. The latest merchandise comes hot on the heels of other quirky goods offered by billionaire entrepreneur and Tesla co-founder Elon Musk to promote his companies, including US$20 Boring Company hats and a US$500 limited edition flame-thrower. [Full Article...]

Why Netflix, Google and LinkedIn are rallying to employ a homeless man

Why Netflix, Google and LinkedIn are rallying to employ a homeless man His determination to land a job instead of asking people for money caught the attention of fellow citizen Jasmine Scofield, who took to Twitter to share a picture of Casarez along with his placard. 'A product manager from Bitcoin.com was wondering if I could work remotely of if I want to relocate to Tokyo'. KRON reported that Casarez graduated from Texas A&M University in 2014 with a bache... [Full Article...]

Trump Campaign: Reports of Banners Made in China Not True

Trump Campaign: Reports of Banners Made in China Not True At the meeting, the European Union and Japan joined the U.S. in sharing Washington's consensus against China , with the European Union suggesting a comprehensive reform of WTO rules to bring about new industrial subsidies that would address the "trade-distorting" practices of the Chinese state-owned companies. [Full Article...]

Odor diverts Spirit Airlines flight from NYC

Odor diverts Spirit Airlines flight from NYC There were fears that the smell may have been caused by some sort of risky chemical. That's what passengers aboard a Spirit Airlines flight bound to Fort Lauderdale Thursday night had to wonder. 'A supplemental aircraft is en route to Myrtle Beach to pick up our guests, ' Spirit Airlines said in a statement. "We apologize for the inconvenience this diversion has caused", airline rep Derek Do... [Full Article...]

The big lesson from Trump's truce on trade? Pushback works

The big lesson from Trump's truce on trade? Pushback works President Donald Trump and Jean-Claude Juncker, the head of the European Union , made a joint statement Wednesday saying they agreed to essentially cool off the trade war. Under the agreement, the U.S. is lifting its threat to impose tariffs on European autos as long as negotiations are underway in return for Juncker's promise that Europe would import more USA soybeans and natural gas. [Full Article...]

Don’t Buy Disney Stock Just Yet

Don’t Buy Disney Stock Just Yet Both companies anticipate a close in the first half of 2019. Now that shareholders have approved the purchase, the deal will be locked in, but not finalized. Disney responded with a counter of $71.3 billion , a mix of cash and stock, dealing what ended up being the finishing blow to Comcast. They also get a controlling interest in the streaming service Hulu; FX Networks and National Geographic... [Full Article...]

Zuckerberg loses $16 billion in record Facebook fall

Zuckerberg loses $16 billion in record Facebook fall After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent today. "Over the next several years, we would anticipate that our operating margins will trend towards the mid-30s on a percentage basis", Wehner told the results conference call with analysts. [Full Article...]

Delay in 10-nanometre chips pummels Intel

Delay in 10-nanometre chips pummels Intel The second-quarter report showed little evidence of that as giant data-center operators, such as Google Inc. and Amazon.com, continued to pour money into their networks, which are built on Intel's silicon. "We don't see it at the 60-plus percent gross margin level, but we do expect it to be a contributor to earnings performance as we go forward", Swan said. [Full Article...]


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