• Elon Musk announces Tesla will cut around 3,000 jobs
Elon Musk announces Tesla will cut around 3,000 jobs

After Elon Musk published a memo on Friday announcing plans to cut 7 % of Tesla's workforce, one analyst said the electric auto maker is at an inflection point. Musk said that the cuts are necessary to help Tesla cope with what Musk described as an "extremely hard challenge: making our cars, batteries and solar products cost-competitive with f...

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  • Taiwan holds live fire military exercises in response to China threat
Taiwan holds live fire military exercises in response to China threat

According to the DIA report, China has been acquiring technology "by any means available" - and its military is now more advanced than ever. The DIA report referenced a Chinese white paper from 2015, titled "China Military Strategy" ( pdf ), where the Chinese regime explained that while world war is unlikely, it intends to prepare for the possi...

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  • Huawei Is Target of U.S. Criminal Probe for Trade Secrets Theft
Huawei Is Target of U.S. Criminal Probe for Trade Secrets Theft

T-Mobile sued Huawei four years ago claiming the company had stolen the technology, winning a $4.8m (£3.7m) payout in 2017. The probe is at an advanced stage and could lead to an indictment soon, they said. The bills specifically cite ZTE and Huawei, both of which are viewed with suspicion in the United States because of fears that their switches...

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  • China Not Worried About Other States' Criticism of Death Penalty for Canadian
China Not Worried About Other States' Criticism of Death Penalty for Canadian

They also talked about the extradition case of a Huawei executive in Canada . Beijing on Tuesday repeated its calls for her immediate release, calling on Canada to correct its "severe mistake". Trudeau is staring down increasing pressure to move faster and more forcefully to complete a new oil pipeline in this country. The Chinese press be...

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  • British PM Theresa May faces confidence vote after Brexit defeat
British PM Theresa May faces confidence vote after Brexit defeat

Immediately after the vote, opposition leader Jeremy Corbyn tabled a no-confidence motion, saying it would give Parliament a chance to give its verdict "on the sheer incompetence of this government". In an open letter addressed to the prime minister, Juncker and European Council President Donald Tusk committed to making sure "that the backstop ...

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  • PG&E, utility tied to California wildfires, to file for bankruptcy
PG&E, utility tied to California wildfires, to file for bankruptcy

PG&E said in a company filing Monday that it has only about $1.5 billion in cash and cash equivalents on hand. "We can't view this just as one off", said Austin Brown, executive director of the UC Davis Policy institute for Energy, Environment and the Economy.

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  • Americans support Ocasio-Cortez's 70 percent tax rate on rich
Americans support Ocasio-Cortez's 70 percent tax rate on rich

In reacting on Twitter to Lieberman's comments last week, Ocasio-Cortez suggested Lieberman had been left behind by the changes in the Democratic Party . It's not the same thing, at all. Ocasio-Cortez replied, "Because I think he's a symptom of a problem ..." Because I think he's a symptom of a problem.

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  • Fed Vice Chair:
Fed Vice Chair: "Patience is a Virtue" with Interest Rates

Larry Summers, a Harvard professor and former Treasury Secretary under former President Bill Clinton, said earlier this week that he thinks there's "better than a 50-50 chance" of a recession in 2020. But when Rubenstein asked if he'd be happy to accept an invitation, Powell simply repeated: "I'm not aware of anyone not accepting it". Variou...

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  • Oil Enters Bull Market As Shorts Are Wiped Out
Oil Enters Bull Market As Shorts Are Wiped Out

However, they appear to be at wide odds over contentious issues, including intellectual property protection. By Thursday, however, the positive feelings ebbed because of a lack of a details on the talks despite a warm statement from China on the outcome, and financial markets took a breather from the rally.

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  • Sears agrees to consider revised Lampert bid
Sears agrees to consider revised Lampert bid

Lampert's latest attempt to rescue Sears came after his previous $4.4 billion bid fell short, prompting the retailer to make liquidation preparations ahead of bankruptcy court hearing in NY on Tuesday. Sears Holdings has rejected Chairman Eddie Lampert's bid to save the 126-year-old company, setting the storied retailer with more than 50,000 empl...

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  • Financial Focus: Your Tax Refund Has Been Taken By a Gov't Shutdown
Financial Focus: Your Tax Refund Has Been Taken By a Gov't Shutdown

The Wall Street Journal reported that the IRS is operating with only one-eighth of its normal employees because tax season hasn't yet begun - and that pay refunds are one of their services that's on the chopping block. The Daily Caller executive editor Vince Coglianese discusses how a partial government shutdown will impact the American people...

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  • First Alleged 2019 iPhone XI 'Leak': 3D Renders Reveal Triple-Camera Setup
First Alleged 2019 iPhone XI 'Leak': 3D Renders Reveal Triple-Camera Setup

Yes, finally it looks like Apple is bringing three cameras on the rear panel of the new iPhone . The flash LED and a microphone hole sandwich the third vertex of the triangle. However, the triple camera setup on the back has attracted the most attention with its unconventional and un-Apple like asymmetrical layout. Earlier leaks have pointed...

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  • Apple Cuts Steerage for Newest Quarter; Shares Tumble
Apple Cuts Steerage for Newest Quarter; Shares Tumble

But that's missing Apple's biggest problems, according to a new report from Nicolas Baratte and Cherry Ma, analysts at Hong Kong-based CLSA, who point directly to the iPhone's climbing average selling price (ASP) and increased competition from the likes of Huawei and others.

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  • Bluefin tuna sells for £2.5m world record at Tokyo fish market
Bluefin tuna sells for £2.5m world record at Tokyo fish market

It was bought by Kiyomura Corporation, whose owner Kiyoshi Kimura runs the Sushi Zanmai chain, the report said. Saturday's event was the first New Year auction of the Toyosu market, after the famed Tsukiji fish market shut last year to provide temporary parking for the Tokyo 2020 Summer Olympics.

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  • Powell says Fed will be ‘patient’ with monetary policy in 2019
Powell says Fed will be ‘patient’ with monetary policy in 2019

DXY's up move to the 96.60 region, or session highs, is now an ephemeral memory as a outcome of the dovish tone from Chief Powell's speech at the annual meeting of the American Economic Association. In response to questions, Powell also signaled a willingness to include changes to the Fed's gradual run-off of its balance-sheet in any review of mon...

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  • Apple shares dive; rare revenue warning drags global markets
Apple shares dive; rare revenue warning drags global markets

Bhansali has argued that consumers are no longer seeing the value for new models of Apple products, like the iPhone XS and MAX, which were more expensive than the iPhoneX, which she says itself was a disappointment. According to Cook, all of those factors (plus some others) resulted in fewer iPhone upgrades than expected. Some analysts, howev...

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  • 5 takeaways from Apple's stark China warning
5 takeaways from Apple's stark China warning

A key White House adviser said in response that the ongoing tensions were going to mean that a "heck of a lot" of United States firms with sales in China - not just Apple (Swiss: AAPL-EUR.SW - news) - would see their earnings downgraded until the two countries reach a deal.

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  • Struggling to sell iPhones, Apple blames customers for not upgrading
Struggling to sell iPhones, Apple blames customers for not upgrading

Apple saw "fewer iPhone upgrades" than anticipated thanks to the battery replacement program and the other aforementioned factors, which is why the company is now lowering its expected revenue estimates. Hassett added Thursday, noting that he was a "globalist" before joining the Trump administration: "If we have a successful negotiation with...

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  • Tesla shares go into reverse on missed deliveries and price cuts
Tesla shares go into reverse on missed deliveries and price cuts

The full US$7500 (NZ$11,270) tax credit for Tesla customers was cut in half to US$3750 at the start of the new year. Tax credits on its vehicles contributed to that profit. The $2,000 cut in prices, however, weighed on the stock, pushing it down 9.4 percent to $301.69 in morning trade on a broadly weaker day for US markets.

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  • Computer virus hits Tribune Publishing, Los Angeles Times
Computer virus hits Tribune Publishing, Los Angeles Times

Times . Jeff Light, editor and publisher of the San Diego Union-Tribune, began Saturday morning by issuing an apology . A cyber attack caused major printing and delivery disruptions on Saturday at the Los Angeles Times and other major USA newspapers, including ones owned by the Tribune Publishing Co.

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  • United States sets new March 2 date for China tariff rise amid talks
United States sets new March 2 date for China tariff rise amid talks

Deputy U.S. Trade Representative Jeffrey Gerrish will lead the Trump administration's team, which will also include Treasury Under Secretary for International Affairs David Malpass, according to the people, who spoke on the condition of anonymity.

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  • Sears to close 80 more stores, awaiting bids to stay in business
Sears to close 80 more stores, awaiting bids to stay in business

A committee of Sears' other leading creditors has argued that the company should shut down the business , closing all the stores and liquidating its inventory and other assets. However, Lampert hasn't officially submitted a bid. ESL said that should its bid be accepted, it expects the company to emerge from bankruptcy. Sears' corporate headquart...

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  • Sears to close 80 more stores as deadline looms today
Sears to close 80 more stores as deadline looms today

The deadline to submit bids for Sears is December 28 . At that time, ESL could participate in the auction against liquidation bidders on January 14. Should Lampert miss the deadline, it would put Sears and Kmart on the path to liquidation.

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  • Transformer Explosion Shuts Down LaGuardia Airport
Transformer Explosion Shuts Down LaGuardia Airport

Transformers, like the one that produced the bright light in Queens , change the electricity flowing through them into different voltages. " There are no injuries reported , and no fire", the fire department said. Now that everyone in NY has been told that last night's spectacular light show over Astoria was not due to an alien invasion but r...

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  • U.S. stocks shake off slide with late-afternoon rally
U.S. stocks shake off slide with late-afternoon rally

Eastern Time. The Dow Jones Industrial Average climbed 731 points, or 3.4 percent, to 22,524. The Standard & Poor's 500 Index rose 116.60 points to 2,467.70, recording a gain of 4.96 percent for the day. Texas Instruments dropped 1.3 per cent to $91.74. Although Wall Street's main fear gauge, the Cboe Volatility Index (VIX), fell sharply Wedn...

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  • Stocks rebound after pre-holiday thumping
Stocks rebound after pre-holiday thumping

The Dow marked its biggest point gain in history. Investors recouped all their losses from Wall Street's Christmas Eve plunge as stocks rallied across all sectors, giving markets their best single-day percentage gain in 10 years. "The market was pressured by worries over Washington, the Fed and the threat of the trade war sparking a globa...

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  • Stock Boom Day After Christmas
Stock Boom Day After Christmas

Other U.S. indexes fell too. United States stock futures pointed higher Wednesday as the American government remained partially shut down and President Donald Trump kept up his criticism of the Federal Reserve, saying it was raising interest rates too quickly.

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  • Oil ascends to $51 after soak slide; development fears gauge
Oil ascends to $51 after soak slide; development fears gauge

Crude dropped to the lowest level since July 2017 as concerns over a weaker global economy and turbulence in Washington overshadowed signals from OPEC that it may deepen output cuts. The declines were led by Hess Corp., which lost 8.4 percent, the most in nearly three years, after Venezuelan forces temporarily halted ships working at a formation ...

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  • Christmas Day opening hours: Is McDonald's open on Christmas Day 2018?
Christmas Day opening hours: Is McDonald's open on Christmas Day 2018?

In a real bind, small convenience stores including Wawa, 7-Eleven and Cumberland Farms will also be open on Christmas day . Denny's is no stranger to being open on Christmas Day . The Buffalo Wild Wings chain is not only open, but wants to give you the space to hold your own holiday party this Christmas . Here's a look at what is open an...

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  • US regulators tell Mnuchin nothing out of ordinary in markets
US regulators tell Mnuchin nothing out of ordinary in markets

President Trump's Treasury secretary called six top U.S. bankers on Sunday amid concerns over falling stocks, and has revealed he plans to convene a group of officials known as the 'Plunge Protection Team'. Mnuchin on Saturday quoted Trump as denying any plan to remove Powell. On top of these concerns, Washington is now roiled by a partial govern...

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  • Food and Liquor Stores Open Christmas Eve and Christmas Day 2018
Food and Liquor Stores Open Christmas Eve and Christmas Day 2018

There are virtually no times throughout the year that you can't count on Walmart to be open. LCBO and The Beer Store locations will be open until 6 p.m. Both stores have store locators on their websites where customers can check on their hours. All 24-hour stores will have those regular hours as well.

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  • Weekend Weather: Winter storm generates strong winds, rain across Island
Weekend Weather: Winter storm generates strong winds, rain across Island

In a statement issued Saturday, BC Hydro said it had called in crews from around B.C. and had more than 800 personnel in the field trying to clear downed trees and fix power lines felled in what it called "one of the most severe windstorms it has experienced in 20 years".

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  • GST rates reduced for several items
GST rates reduced for several items

After the new changes, 28 items are in the 28 percent slab. The original demand by Congress that all goods should come down to 18% and below except luxury items has been agreed by the Government. He added that the industry was also hoping for a GST rate reduction on air-conditioners. "The GST Council's decision to reduce the GST rates of certai...

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  • Dow ends lower amid fears of USA government shutdown
Dow ends lower amid fears of USA government shutdown

Major indices had been up about 1 per cent prior to the Fed announcement. Investors fear a recession is coming, and barring huge gains during the upcoming holiday period, when trading is usually quiet, this will be the worst December for stocks since the 1930s.

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  • Briefing: Google's China search project halted after internal complaints
Briefing: Google's China search project halted after internal complaints

If Google actually releases a heavily-censored search engine in China , it would directly contribute to Chinese oppression - which actually contradicts Google's motto "Don't Be Evil". Google saw backlash towards Dragonfly , both within the company and outside of the company. All these look like that the private sector had no idea about this p...

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