Economy

Is Hanjin Collapse a 'Lehman' Moment for Shipping?

South Korea's Hanjin Shipping says it has received $44.6 million from its current and former chiefs to relieve its global cargo crisis. Korean Air on Saturd...


Postal union likely to begin job action Tuesday

Canada Post also suggested the two-year deals would provide more time to look at how best to address some of the issues it faces - without the threat of a work ...


Every college student's dream? Burritos delivered by drone

The deliveries will only be made at a certain part of the campus. The MAAP is authorized to conduct projects using unmanned aerial systems at Virginia Tech wi...


Ford buys shuttle service Chariot to dominate San Francisco's transport system

The Bay Area Bike Share program will be expanding from 700 to 7,000 bikes - including 1,000 in San Jose and for the first time, 1,500 in the East Bay - thanks t...


HD Supply Sales Up 4.1% in 2Q

Finally, Northcoast Research reissued a neutral rating on shares of HD Supply Holdings in a research note on Thursday, June 30th. Macquarie began coverage o...


Volkswagen engineer pleads guilty in US diesel emissions probe

Liang, 62, of Newbury Park, California, pled guilty today to one count of conspiracy to defraud the United States, to commit wire fraud and to violate the Clea...


Police question man in theft from 93-year-old in wheelchair

He was sporting a man bun (a crime in and of itself, some say) when he walked over to Maria Vasquez , reached his hand into her shirt and removed her $600 mont...


Oil prices retreat after sharp gains, OPEC set to meet

Gasoline stocks fell 2.3 million barrels, compared with expectations for a 171,000-barrel decline, the API data showed. London Brent crude for November delive...


Canada adds 26200 jobs in August on strength in services

The roller-coaster Canadian job market roared higher in August, climbing back from its July plunge, but economists cautioned the longer-term trend for growth re...


US tries rescue mission in Afghanistan, hostages not found

During the mission, US forces engaged and killed a number of hostile forces. The identities of the hostages were not disclosed. The mission, first reported ...


Stranded Hanjin ships could dock at Southern California ports soon

The financial concerns have left terminal operators and suppliers uneasy about cooperating with Hanjin ships. The money - which amounts to about $90 million...


Oil edges up; gains limited amid skepticism over freeze deal

OPEC Secretary-General Mohammed Barkindo met Iran's oil minister, Bijan Zanganeh, in Tehran on Tuesday. Brent for November settlement lost as much as 20 U.S...


U.K. Manufacturing Activity Rebounds Unexpectedly

That pushed factories to increase production and the output sub-index climbed to a 12-month peak in August. LONDON-British manufacturing activity rebounded in...


Iran determined to regain pre-sanction oil market share

All of a sudden, the stars seem to be aligning towards a production freeze, although, to be sure, such a policy will hardly limit output levels from OPEC member...


Apple planning iPad software upgrades and refreshed iMac and MacBook Air

Apple is also about to launch the new iOS10 software for iPhone and iPad. Furthermore, the market shares are tumbling as Samsung is trying to dent Apple's rigid...


U.S. auto sales fall in August

Volkswagen's sales dropped 9 per cent. Toyota Motor Corp.'s sales dropped 5 per cent to 213,125. While some of that can be attributed to selling fewer trucks ...


No injuries: SpaceX rocket explodes at launch site in Florida

Kennedy Space Center's Emergency Operations Center personnel were monitoring the situation and standing by to assist if required, while the environmental health...


Irish cabinet fails to agree on Apple appeal, to meet again

He dismissed the European Commission's ruling that Apple owes Ireland at least €13bn - a figure that could rise to €19bn when interest is taken into account...


Abercrombie & Fitch sales fall for 14th straight quarter

Abercrombie & Fitch Company closed its last trading session at $22.95 with the loss of -20.31%. Merrill Lynch reiterated an Underperform rating and cut its pr...


Tesla's new model as fast as a Ferrari or Porsche

The increased speed is thanks to a newly developed 100kwH battery dubbed the P100D - which will also allow the Model S's to travel 315 miles before it needs a r...


Boost for Fed as consumer spending offsets business gloom

Incomes rose 0.4%, a pick-up from growth in the prior two months. - USD Personal Income (JUNE): +0.4% versus +0.4% expected, from +0.2% (m/m). The share of di...


Obama Administration Considers Ending For-Profit Immigrant Detention

Earlier in August, the US Department of Justice has announced that it would substantially reduce the use of private prisons following investigations that reveal...


FAA forecast: 600000 commercial drones within the year

Drones must weigh less than 55 pounds. Autodesk has invested in two drone companies, the unmanned aircraft manufacturer 3D Robotics and Skycatch, which operat...


Case for U.S. rate hike stronger, Fed chief says

But she stopped short of saying a rate increase would definitively launch next month when she and her colleagues convene in Washington . A mix of weak econom...


U.S. economy grew at tepid 1.1 percent pace in spring

The GDP price index was revised up slightly to 2.1% from 2.0% previously, while the PCE price index was revised slightly higher to 2.0% from 1.9% with the core ...