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Foxconn again shifts Wisconsin plan after Trump intervenes

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Foxconn Technology Group said Friday it will go ahead with plans to manufacture liquid-crystal displays in Wisconsin after an intervention from President Donald Trump . Foxconn's statement did not reiterate its commitment to create 13,000 jobs as it did on Wednesday. The plan received praise from President Donald Trump, who has repeatedly called it "incredible." Taiwan-based Foxconn Technology Group makes products for the education, medical and healthcare, entertainment and sports, ... Read More »

US job growth surges; unemployment rate rises to 4.0 percent

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January marks the 100th straight month of job growth in the US, a record more than twice as long as the previous one of 48 months set in June 1990. The partial government shutdown that ended last Friday, which was the longest on record, may have had a slight impact on the report . Read More »

DIPP to not extend FDI in eCommerce policy deadline; CAIT "deeply satisfied"

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Flipkart CEO Kalyan Krishnamurthy warned last month that it faced "significant customer disruption" if the new rules were implemented from 1 February. The new set of rules will minimise malpractices and pricing policies that favour specific sellers and their exclusive retailers. Companies are also now required to make annual declarations of their compliance with the rules to the Reserve Bank of India. Read More »

Are Tesla Model Y And Truck Debuts About To Happen?

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Tesla ( NASDAQ : TSLA ) last released its quarterly earnings results on Wednesday, January 30th. "We are planning to continue to produce Model 3 vehicles at maximum production rates throughout 2019". Even though Tesla has significantly ramped up its production, the output is still only half of its original target of 500,000 per year by 2018. It had to set up makeshift tents in the parking lot of the Fremont facility to make vehicles. Read More »

Amazon’s fourth-quarter sales hit a record $72 billion

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Shares of the company fell 5 percent to $1,635 after the bell. The speedy Prime Now delivery service is live in more than 10,000 cities, Amazon said in its earnings report , and it now serves the majority of Prime members. "Alexa was very busy during her holiday season", said Bezos. The company expects first-quarter operating income of between $2.3 billion and $3.3 billion. Read More »

California Wildfire Claims Leads to PG&E Bankruptcy Filing

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NextEra Energy had asked FERC to block the utility from amending or rejecting PPAs with energy providers, a move the company said PG&E will "undoubtedly" ask the bankruptcy court to take in order to reduce its financial obligations. Its stock is 70 percent from a year ago. "We did not make this decision lightly, as we understand that millions of our customers rely on us and will have questions", PG&E's interim chief executive officer, John R. Read More »

Green New Deal Must Include Fossil Fuel Phaseout

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Ocasio-Cortez's spokesman Corbin Trent said the congresswoman has no issues if someone challenges her in a primary. "I'm sure they can find numerous people who want that seat in that district", the lawmaker added . Ocasio-Cortez's platform of Medicare for All and climate action because she's good at Twitter . Mother Jones' report primarily took issue with a LibertyCon session put on by the CO2 Coalition , a group of scientists and experts who highlight the potential benefits of more ... Read More »

Interest Rates to Remain Steady for Now, Fed Says

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The results helped Wall Street reverse two down days that was triggered by profit warnings from USA bellwethers that signaled a bigger impact from a slowdown in China. The dollar weakened against other currencies as traders anticipated that US interest rates would remain low for longer than previously expected. One of the concerns was the effect of the Fed's decision to reduce its securities holdings, which built up to $4.5 trillion in the aftermath of the global financial crisis. Read More »

China pledges 'tremendous' US soy purchases

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Specifically, US officials are attacking Chinese trade practices they say are unfair, spotlighting the forced transfer of American technology through requirements that foreign companies form joint ventures with local firms, as well as the alleged theft of American intellectual property through hacking. Read More »

Podcast | Where Are the Jobs? Key Takeaways from the NSSO Report

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The government declined to confirm or deny the report. "No, never", Pronab Sen, former chief statistician and ex-chairman of the National Statistical Commission , told TOI. Kumar said the government is waiting to process the quarterly data till December 2018 for better comparative analysis. The new survey used a computer-assisted personal interviewee method to collect data this time, said Kumar. Read More »

Alibaba revenue growth slows to weakest pace in three years

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As of 12:48 p.m. on Wednesday, Alibaba shares traded in ADR form on the NYSE, were up $7.02, or 4.47% to $163.90 apiece. Much anticipated regulation of e-commerce in China isn't likely to be very disruptive, and the economy is poised to improve a bit later this year, according to a note from UBS analysts emailed to Retail Dive. Read More »

Nvidia adds to woes, cutting forecasts and blaming China

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The company said sales in its Asia/Pacific unit were down 4% from a year ago, primarily "due to lower demand in China". The S&P industrial index dropped 1.32 percent. Investors are hoping for encouraging clues that interest rates will remain low enough and job growth strong enough so as to avoid a recession. The country last week reported its weakest annual growth since 1990. Read More »

Bitter cold, natural gas shortages, shutter U.S. auto plants

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Consumers Energy executives asked customers to voluntarily turn down their thermostats to 65 degrees or below, and encouraged industrial customers to temporarily pause operations in an effort to conserve resources. The Michigan Public Service Commission says all state of Michigan owned facilities in the Lower Peninsula are lowering their thermostats by five degrees to lessen the burden on the natural gas supply. Read More »

Venezuela crisis: New Zealand refuses to back Guaidó as interim president

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In a tweet, Bolton warned of "serious consequences for those who attempt to subvert democracy and harm Guaido". Venezuela plunged further into turmoil last week after the United States recognized Guaido, 35, as acting president, while Russian Federation, which has lent Caracas an estimated $17 billion since 2006, continued to back Maduro. Read More »

U.S. Warns Americans Not To Travel To Venezuela

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The U.S. State Department, meanwhile, said that Americans shouldn't travel to Venezuela , warning of unrest, the threat of being arbitrarily arrested and of mass demonstrations occurring with little notice. A former union leader, bus driver and foreign minister, Maduro has overseen a shrinking economy and the migration of 3 million Venezuelans fleeing shortages and hyperinflation. Read More »

US, China to hold 2-day trade talks from Wednesday

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The W-T-O's decision came after Beijing filed a second request for its case to be heard. The American president's protectionist moves have begun to weigh on the Chinese economy, which a year ago posted its slowest economic growth in almost three decades, causing Trump to claim he has the upper hand in the talks. Read More »

Venezuelan Embassies Never Recognized Guaido as President - Ambassador to Italy

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On Monday evening, White House National Security Adviser John Bolton walked into a press briefing about new sanctions on Venezuela with a yellow legal pad that was, accidentally or not, turned to face the press pack. When asked if the USA had plans to intervene amid the unrest, Trump said of Venezuela, "We're not considering anything, but all options are on the table", CBS News reported . Read More »

German minister: no room for United Kingdom renegotiation

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She promised that if this passed, she would seek a "significant and legally binding change to the withdrawal agreement" with the European Union before Britain leaves the bloc as planned on March 29. Tory grandee Sir Graham said he hoped House of Commons backing would give Mrs May "enormous firepower" when she returns to Brussels to seek concessions on her Brexit deal. Read More »

Oil falls on increased US rig count, China industrial slowdown

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The bloc of 14 nations - Latin American powers and Canada - will "discuss the steps we can take to support ( opposition leader) Juan Guaido and the people of Venezuela ", she said. Despite the regime's threats to throw out diplomats and cut off electricity, the US had refused to close its embassy. Remaining personnel will stay in their respective embassies, protected by "diplomatic prerogatives" during that time, according to Arreaza's statement. Read More »

US Charges China's Huawei With Bank Fraud, Stealing Trade Secrets

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Both the Justice Department and Huawei declined immediate comment. The company is also charged with violating USA sanctions on Iran and conspiring to obstruct justice related to the investigation. The charges come as the two countries' leaders seek to end their months-long trade war and with China's lead trade negotiator, Liu He, scheduled to meet with US officials in Washington in coming days. Read More »

Vodafone hits the pause button on supplies of Huawei's kit in Europe

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Huawei Technologies' competitive 5G advantage in developing markets is likely to remain because of its affordable technology, say analysts, even as suspicion rises following the arrest last week in Poland of a Chinese sales director at the world's largest telecommunications equipment maker on spying charges. Read More »

Trump insists Mexico wall will be built despite deal to end shutdown

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The partial government shutdown, which was the longest in US history, ended on Friday with Trump agreeing to temporarily reopen the government without any money for his border wall. After Trump agreed to reopen the government, a committee was charged with negotiating an agreement on border security as part of a new spending bill for the Department of Homeland Security. Read More »

Pelosi Explains Her Shutdown Strategy: From Feather to Sledgehammer

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Asked if she thought Trump and his people realized her power over something as traditional as the SOTU, she said , rather dismissively, "I don't spend a lot of time sussing out what they know". The partial federal shutdown ended Friday when Trump gave in to mounting pressure, retreating from his demand that Congress commit to the border wall funding before federal agencies could resume work. Read More »

Microsoft's Bing blocked in China - FT report

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The representative of the Chinese state-owned telecommunications operator China Unicom said one of the sources that Bing has been blocked after government order. Smith said Microsoft isn't certain whether the blocking of its search engine "is confined to Bing or if it is something that is broader". A spokeswoman from China's cyberspace authority did not reply to a request for comment on Thursday. Read More »

How The Venezuela Political Crisis Impacts The Oil Market (NYSE:USO)

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Venezuela holds the group's rotating presidency this year, which means the nation's oil minister and PDVSA president Manuel Quevedo is OPEC's sitting president for 2019. With Iran already crippled by USA sanctions, a drop in Venezuelan exports could squeeze global supply further. The biggest USA importers of Venezuelan crude past year were Citgo, Valero and Chevron, according to Rystad Energy. Read More »

Oil up on shutdown deal, mounting Venezuela woes

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This week, things got worse. Amid violent street protests, Venezuela's opposition leader Juan Guaido declared himself interim president earlier this week, winning backing from Washington and large parts of Latin America, prompting Nicolas Maduro, the country's leader since 2013, to break relations with the United States. Read More »

Dyson moves vacuum giant to Singapore

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He said the move is unrelated to the looming deadline for Britain to leave the European Union after voting to do so in the summer of 2016, but rather the company says it is doing so to be closer to its fastest growing markets in Asia. Dyson is the latest company to mull changing operations amid Brexit uncertainty, with executives from Jaguar Land Rover, Nissan-Renault, Bank of America Merrill Lynch and others demanding that the government avoid a no-deal Brexit or moving operations ... Read More »