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Italy's populist parties say 'conditions met' for government

Italian President Sergio Mattarella talks to the media at the Quirinal Palace in Rome , Italy, May 31, 2018. Before a coalition could crystallize, President Mattarella - who must approve every major position in the government - rejected the two parties' nomination for finance minister.

Business

‘Totally unacceptable’: Canada retaliates with tariffs on USA imports

Now the tariffs on Canada , Europe and Mexico will take effect Friday morning. Jean-Claude Juncker, head of the European Commission, said in a speech Thursday that "whenever I'm thinking about Trump , I'm lost". FILE - Jose Mata grinds a steel pipe at the Borusan Mannesmann plant in Baytown, Texas, April 23, 2018. German Chancellor Angela Merkel expressed opposition to the rising trade tensions before the USA announcement.

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De Beers to produce synthetic diamonds for first time

The line of man-made diamonds "may not be forever, but is ideal for right now", Bruce Cleaver, chief executive of De Beers Group, said in a statement . Element Six is a supplier of synthetic diamonds for such industrial uses as cutting, grinding, drilling, mining, polishing, optics, semi-conductors and sensors.

Business

European Union declares dark day for trade as Trump slaps steel tariffs

Commerce Secretary Wilbur Ross in Paris. Mexico retaliated with "equivalent" measures on farm and industrial products, targeting pork legs, apples, grapes and cheeses as well as steel . Weber adds that Trump's decision has to be a wake-up call for us Europeans: "with the United States closing in on itself, we should be bridge-builders & reliable partners for the rest of the world".

Business

Amazon to restrict Australian customers to local site in July

The retail giant said it would subject Australians to the process known as "geoblocking" from July 1, when a 10 percent Goods and Services Tax (GST) applies to imported online goods worth less than A$1,000 ($756). Amazon said Australian customers will still be able to buy products sold by Amazon US on the Amazon Global Store. However, four million or so products are less than one percent of the 480 million products that are available on Amazon's USA website.

Business

Talks held in Italy amid political crisis

However, Italy's president blocked the coalition's choice of finance minister, creating further turmoil . Fresh elections are now looming as the most likely outcome of the long-running political saga sparked by an inconclusive poll in March.

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Reversing course: Tesla’s Model 3 gets thumbs up from Consumer Reports

Tesla says the Model 3 will go from 60 miles per hour to a standstill in around 133 feet. Consumer Reports has finally given Tesla's Model 3 a passing grade following the rollout of a software update that improved the car's stopping distance during emergency brake testing.

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World’s longest non-stop commercial flights launch in October

Flights will cover a distance of approximately 16,700km and travel time is expected to be about 18 hours and 45 minutes. The current long-distance leader is Qatar Airways' 9,000-mile flight from Doha, Qatar, to Auckland, New Zealand. Singapore Airlines confirmed on Wednesday that it's going to relaunch its nonstop service between NY and Singapore in October. Singapore Airlines is Airbus' first and to date only customer for the A350-900ULR, an ultra-long range version of the fuel-efficient ...

Business

Canada Buys Trans Mountain Oil Pipeline, To Ensure It Gets Expanded

Federal Finance Minister Bill Morneau said the move will only be used to ensure the capacity of the pipeline can be tripled, allowing Canada to find new export markets for its oil resources. OMERS' infrastructure arm is invested in several pipeline assets, including the Czech Republic's NET4GAS sro, CLH Pipeline System in the United Kingdom and Spain, as well as the U.K.'s Scotia Gas Networks.

Business

Fraudsters May Have Accessed Some BMO & CIBC Customers Data

Two of Canada's largest banks have issued statements confirming they were contacted by "fraudsters" claiming to have personal and financial information on customers in their possession. "We are monitoring the situation closely with the Office of the Superintendent of Financial Institutions", she said in an emailed statement. The company said there's "currently no indication that clients who bank through CIBC have been affected".

Business

Cheaper petrol on the way?

The spread between Brent and US crude stands at almost $9 a barrel, its widest since March 2015. Russian Federation and Saudi Arabia would not like the prices to jump from the current $75-$80 to $100, he said. USA stock markets sank more than 1 percent, while the dollar gained about 0.7 percent. The upshot: Oil has played havoc with our currency market with the USD/INR pair plummeting all the way to 68 levels since April 2018.

Business

Fuel prices in India have not been slashed

In Mumbai , petrol price was cut by 59 paise to ₹85.65 a litre . "Dear PM, You've cut the price of Petrol and Diesel today by 1 paisa ". Others were angry And most saw an opportunity for making great memes And jokes Even Netflix India jumped on the bandwagon As Wednesday morning, petrol prices are at Rs.

Business

Tesla in Autopilot Mode Crashes into Police Car

Asked about Tuesday's crash, Tesla said , " When using Autopilot, drivers are continuously reminded of their responsibility to keep their hands on the wheel and maintain control of the vehicle at all times ". Cota said . "We're just lucky that people aren't getting injured". Tesla's semi-autonomous Autopilot mode has come under scrutiny following other recent crashes.

Business

U.S. To Continue Trade Actions Against China: White House

WASHINGTON-U.S. President Donald Trump said Tuesday that he would proceed with tariffs on $50 billion (U.S.) in Chinese imports and introduce new limits on Chinese investment in U.S. The US is preparing to send a trade delegation back to Beijing later this week to continue talks aimed at easing trade tensions. Alongside this, it said it will continue to pursue litigation at the World Trade Organisation against China's "discriminatory technology licensing requirements".

Business

Pret A Manger Staff To Get £1,000 Each After Chain Takeover

JAB, run by Peter Harf, Bart Becht and Olivier Goudet, has spent more than $30 billion (U.S.) building its coffee-focused empire, which also includes Keurig Green Mountain Inc. In January, JAB's Keurig Green Mountain Inc. agreed to take control of Dr Pepper Snapple Group Inc. for $18.7 billion. Bridgepoint bought Pret for £364million in 2008, which means it has made a 312 per cent profit.

Business

Starbucks customers skeptical racial bias training will result in real change

Starbucks said it is shutting down all its US locations - more than 8,000 stores across the country - Tuesday, May 29, in the afternoon for a company-wide racial bias education day. Here's what you need to know. "Because the Starbucks locations within Target stores are managed by Target and run by our team members, our staff will take part in Target's existing company-wide bias training programs", said a statement on Targets corporate website.

Business

Federal Bureau of Investigation urging Americans to reset internet routers citing Russian hackers

If left unattended, the malware has the potential to render routers completely inoperable. According to a report by arstechnica , the malware has infected at least 500,000 devices in the U.S. The easiest way to protect your internet connection is to simply reboot your router. Users should also upgrade their devices' firmware. They should also consider disabling remote management settings on their devices and reset their passwords.

Business

Petrol, diesel prices hiked for 16th straight day

Across all forecourts, the average was even higher with prices rising by almost 8.5p a litre. "I have already categorically stated (on) this issue several times". "Given that these revenue if foregone will not impact states fiscal position, we estimate that on an average, states can cut petrol prices by Rs 2.65/litre and diesel by Rs 2/litre, if the entire revenue gain was to be neutralised".

Business

Gas prices rising as summer approaches

On the other side of the U.S., CT and MI lead the pack of the most expensive states, with prices of $3.145 and $3.133, respectively. Gas prices tend to cycle through highs and lows, and it just so happens stations in the heartland were at the low end of that pricing cycle a month ago.

Business

Price drops on supply signals

US West Texas Intermediate (WTI) crude futures were at $70,18 a barrel, down 53 cents. Iran , the group's third-largest producer, has also been hit by renewed USA sanctions that could significant curb its oil exports later this year. Novak said a production increase is called for because OPEC member Venezuela has fallen far short of its production targetby almost 1 million barrels a day recently.

Business

Brazil cuts fuel prices after strike leaves food, fuel scarce

His decision came after Sergio Etchegoyen, the Minister of Institutional Security, said the country was "on a path to normalization" although he added: "It's not quick". The military said that the entrances to some ports, such as Santos, Latin America's largest export hub, were cleared, but there were still no trucks arriving by late last night to the area to replenish silos and allow for ship-loading operations.

Business

Oil India, ONGC shares tank on windfall oil tax worries

Continuing the inflationary trend prevailing for the last 13 days, petrol and diesel saw new high of Rs 86.41 per litre and Rs 74.05 per litre respectively on Saturday night. The government deregulated petrol prices in 2010 and diesel prices in 2014 after which OMCs are free to fix its price. When worldwide crude oil price was declining between November 2014 to February 2016, the government had raised excise duty on petrol and diesel by nine times to boost its revenue.

Business

South Korean president meets Kim Jong Un at border

South Korean President Moon Jae-in and North Korean leader Kim Jong Un held an unannounced meeting on May 26 at the Panmunjom border village to discuss a possible upcoming summit between Kim and U.S. Get breaking news alerts and special reports. North and South Korea also agreed to hold high-level meetings on June 1. Moon, who brokered the summit between Washington and Pyongyang , likely used Saturday's meeting to confirm Kim's willingness to enter nuclear negotiations with Trump and ...

Business

Trump tweet forces Saudis to put brakes on oil price surge

He then announced a shift in policy that all but gave a green light for a market sell-off, saying OPEC and its allies were "likely" to boost output in the second half of the year. The total active United States rig count, which includes oil and natural-gas rigs, climbed by 13 to 1,059, the highest for more than two years. "I think in the near future there will be time to release supply".

Business

Trump Administration Reaches Agreement To Save China's ZTE

Despite a wave of bipartisan pushback, Trump on Friday appeared to confirm that his administration had reached a deal to put ZTE back in business. Chris Van Hollen (D-Md.), the provision's author. It is unclear if Congress can get the veto-proof majorities needed to block the President on ZTE.

Business

Cisco: Destructive VPNFilter Malware Has Infected 500K Devices

Because of the apparent focus on networking devices in the Ukraine, it has been widely speculated that Russian Federation is behind VPNFilter, with a possibility that there is intent to cause major disruption before the Champions League final, which is taking place in the Ukrainian capital of Kiev on Saturday.

Business

Yellow lab gives birth to eight puppies

Proud papa, "Nugget", was also on hand for the memorable moment. A service dog delivered a healthy litter of puppies at Tampa International Airport , Florida, after going into labor Friday as she waited to board a Philadelphia-bound flight with her owner.

Business

Elon Musk Has Plans to Shake Up the Media

After cool gadgets, gizmos, rockets, high-tech cars , tunnels, brain-linked computers, candy, the SpaceX co-founder Elon Musk announced that he is going to create a website that would give credibility ratings to individual journalists and news organisations based on their supposed truthfulness.

Business

Uber Car Involved in Fatal Crash Had Braking System Disabled

Uber brought a fleet of self-driving cars to Arizona at the end of 2016, just days after the vehicles were banned from California for not having the proper permits at that time. Regarding Uber's self-driving Volvo XC90 , the report confirms that Uber does deactivate Volvo's own built-in driver assistance systems, including autonomous emergency braking, when operating in autonomous mode.

Business

Tesla settles class-action lawsuit over its Autopilot system

District Judge Beth Labson Freeman. Customers who wanted the upgraded Autopilot system paid $5,000 for the feature. "If it (the settlement) is approved by the court, we've made a decision to compensate all customers globally in the same way".

Business

Fiat Chrysler recalling 4,800,000 vehicles over a defect

The company emphasized drivers could overpower the system by continuously applying the brakes until the vehicle stopped or the vehicle could be stopped by shifting into neutral and braking. Though there are no known incidents or injuries so far, the company took the pre-emptive step amid concerns that vehicles are not slowing automatically when in cruise control mode.

Business

Trump's 'yes' then 'no' then 'yes' approach leaves Singapore summit fate unclear

After months of exhilarating anticipation, US President Donald Trump abruptly ditched a scheduled summit with his North Korean counterpart, Kim Jung-un . military was "ready if necessary" to respond to any "reckless" act from North Korea. Spokeswoman Heather Nauert said Mr Pompeo and South Korean Foreign Minister Kang Kyung-wha reaffirmed their "shared commitment to the denuclearisation of the Korean peninsula" and pledged to coordinate "in all of their efforts to create conditions for ...

Business

Deutsche Bank Confirms Thousands of Job Cuts

He added that the current job losses present "a hard situation" but Deutsche's current financial position leaves him with "no choice". It won't do us any harm to be a bit more boring. But he failed to drag the bank back into the black. In March, senior executives got a stern warning to act more urgently to fix lapses described in a series of settlements with the Federal Reserve over the past few years.

Business

Soaring fuel prices: Maharashtra milkman sells bike, now does rounds on horse

At the end of the day, elections were to be won and there was this one easy method that was availed very well in advance. "The Ministry plans to direct ONGC to sell its crude oil at below ruling global prices by capping the price at, say, $70 for the entire fiscal year".

Business

Gas prices ramp up ahead of Memorial Day weekend

Monday. Most of those people will travel by vehicle, said AAA Ohio spokeswoman Jenifer Moore. Some of the top travel destinations for North Carolinians include Asheville, Myrtle Beach, S.C., Washington D.C., Orlando Fla., and St. AAA says that fifteen states, including New York, New Jersey and IL, are already facing $3 average gas prices or higher. "With refineries now well positioned for the summer months, we may see some relief in mid-June, DeHaan said".


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