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McDonald's offers buyouts to hundreds of headquarters staffers | Mobs of Angry Investors Fight Market Rigging, Maul Deutsche Bank in Class-Action Lawsuit, other Banks Next

Latest News on Business, Technology, and the Economy

By —— Bio and Archives--June 8, 2016

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McDonald’s offers buyouts to hundreds of headquarters staffers
McDonald’s is offering voluntary buyouts to several hundred head office workers slated to begin in late July, two sources who were offered packages tell Crain’s.

Other News Items:

Mobs of Angry Investors Fight Market Rigging, Maul Deutsche Bank in Class-Action Lawsuit, other Banks Next
Prior to last week, Deutsche Bank made headlines for a string of huge losses and massive exposure to risky derivatives. The last time the firm’s shares traded at prices this low, the world was in the midst of 2008’s financial apocalypse.

Internet hyperlinks do not infringe copyright, EU court advised
A link to a website which publishes photos without authorisation of the author does not in itself constitute a copyright infringement, an adviser to Europe’s top court said on Thursday.

Negative interest rates put the global economy on a razor’s edge
Negative Thinking: Central bankers’ last-ditch attempt to heal their weak patient

World Trade Collapses in Dollars, Languishes in Volume
The Merchandise World Trade Monitor by the CPB Netherlands Bureau for Economic Policy Analysis, a division of the Ministry of Economic Affairs, tracks global imports and exports in two measures: by volume and by unit price in US dollars. And the just released data for January was a doozie beneath the lackluster surface.

Desperate Chinese Investors Flood US, Canadian Housing Markets, But Real Numbers Are Taboo
Buying a home in the US or Canada has been an effective way for foreign residents to launder some money and get their wealth out of harm’s way. In the trophy markets on the US West Coast and in the Canadian cities of Vancouver and Toronto, rumors of a massive influx of Chinese money have swirled with growing intensity for years.

Starwood gets higher $13 billion bid from Anbang, tops Marriott offer
(Reuters) - Starwood Hotels & Resorts Worldwide Inc on Friday said a $13 billion cash offer from China’s Anbang Insurance Group Co was superior to one from Marriott International Inc , setting the stage for the largest ever deal by a Chinese company in the United States.

Forget Wi-Fi, get ready for Li-Fi: Ultrafast new technology uses your LIGHTS and is 100 times faster than current systems
In just two years, the lights in your home may provide you with internet access at speeds 100 times faster than Wi-Fi.

Dow, DuPont to Merge in Deal Valued at $130B
Chemical giants DuPont and Dow Chemical Co agreed to merge in an all-stock deal valuing the combined company at $130 billion, with plans to eventually split into three.

Hitachi to pay R250m fine for ‘improper dealings’ with ANC
US SEC says Hitachi made improper payments to the ANC’s private investment arm, Chancellor House.

Apple Rumored to be Developing Massive Head-Up Display
The massive 27- to 50-inch wide display is “very likely” to enter production, tech analyst Chip Chowdhry told the Washington Post. It would go beyond other head-up displays as well by offering gesture controls thanks to a set of sensors wired to the windshield.

Zuckerberg Ally On Americans Losing Jobs To Foreigner Labor: ‘This Is What This Whole Country Is Built On’
A venture capitalist associated with Mark Zuckerberg’s immigration lobbying group Fwd.us insulted American workers who lost their job to foreigners at a recent immigration event, saying they got what they deserved.

More Than 6,000 Major Retail Stores Are Closing
If the U.S. economy really is improving, then why are big U.S. retailers permanently shutting down thousands of stores? The “retail apocalypse” that I have written about so frequently appears to be accelerating.

Experts predict robots will take over 30% of our jobs by 2025 — and white-collar jobs aren’t immune
There’s a BakeBot robot whipping up fresh cookies at MIT; hospitals are now employing medical robots to assist their doctors; and a robot named Baxter can beat any human at the popular logic game Connect Four, among many other tasks.

Fury rises at Disney over use of foreign workers
At the end of October, IT employees at Walt Disney Parks and Resorts were called, one-by-one, into conference rooms to receive notice of their layoffs. Multiple conference rooms had been set aside for this purpose, and in each room an executive read from a script informing the worker that their last day would be Jan. 30, 2015.

Twitter closes 18% lower on disappointing report
Twitter shares closed 18 percent lower after the social media company’s disappointing quarterly report leaked early.

Wal-Mart employees have a theory about why the retailer mysteriously closed 5 stores
Wal-Mart suddenly closed five stores last week without warning, laying off more than 2,200 employees in the process.

If your site isn’t mobile friendly, prepare to get buried in the search results
Search engine optimization is a mystery to most small-business owners. But one thing is easy to understand: When I search for my store/company/business, where does my website come up? First page, first three pages, top five listings?

Walgreens to close 200 stores, boost cost cutting
Drugstore chain Walgreens Boots Alliance (WBA) announced plans to close about 200 U.S. stores as part of its first earnings report since it merged with European drug retailer Alliance Boots last year.

Dubai’s DP World to buy Canadian terminal for $457m
DP World, one of the world’s biggest port operators, has agreed to buy Canada’s Fairview Container Terminal from Deutsche Bank for C$580 million ($457 million), the Dubai firm said on Thursday.

Yahoo to shutter China office and cut “around 350” jobs
BBC News—Internet giant Yahoo is closing its China office as part of a worldwide consolidation aimed at cutting costs.

Premera Blue Cross Breach Exposes Financial, Medical Records
Premera Blue Cross, a major provider of health care services, disclosed today that an intrusion into its network may have resulted in the breach of financial and medical records of 11 million customers. Although Premera isn’t saying so just yet, there are indicators that this intrusion is once again the work of state-sponsored espionage groups based in China.

Hertz puts cameras in its rental cars, says it has no plans to use them
This week I got an angry email from a friend who had just rented a car from Hertz: “Did you know Hertz is putting cameras in rental cars!? This is bullsh*t. I wonder if it says they can tape me in my Hertz contract.” He sent along this photo of a camera peeping at him from out of his “NeverLost,” a navigational device that the company has started putting in many of its cars:

Purchase of $51M Vancouver mansion the latest example of wealthy Chinese buyers fuelling B.C. real estate boom
VANCOUVER — Chinese buyers are snapping up some of the most exclusive real estate in the Lower Mainland. The latest jaw-dropping sale was a $51.8-million mansion on three lots, one of which overlooks the ocean.

White House jobs push has cyber focus
A White House tech jobs training program to be announced Monday will focus on filling the thousands of vacant cybersecurity jobs across the country.

Euro sinks to 11-1/2-year low, bonds gain after ECB
(Reuters) - The euro fell to an 11-1/2-year low against the dollar on Thursday as U.S. and euro zone bond prices rose, after the European Central Bank spelled out its 1 trillion-euro stimulus plan that begins next Monday.

Buffett criticizes Keystone XL delay, says U.S. thumbing nose at Canada
The Keystone XL pipeline got an emphatic endorsement Monday from a powerful backer of President Barack Obama who questioned the handling of the file.

Middle class will be ‘decimated’ by jobs being taken by ROBOTS, web expert warns
The middle class will be ‘decimated’ by the rise of robots replacing traditional jobs like teachers, lawyers and doctors, a leading author warned today.

Hyundai recalls 58,000 cars in Canada
Hyundai is recalling 263,000 Elantras, including 58,000 in Canada, because of its flawed electronic power steering.

Farmers eye drones as key to future of agriculture
The drone could be ready to take its place alongside the tractor and combine harvester, as the next indispensable piece of farming equipment.

How Does PolitiFact Fact Check? By Tweeting People
The Pulitzer Prize winning website PolitiFact has made quite a name for itself in the fact-checking business. Operated by the Tampa Bay Times, the website is cited regularly by media outlets across the country as an authority on what is and is not true. But how do they go about fact-checking claims they investigate?

J.P. Morgan to start charging big clients fees on some deposits
J.P. Morgan Chase & Co. is preparing to charge large institutional customers for some deposits, citing new rules that make holding money for the clients too costly, according to a memo reviewed by The Wall Street Journal and people familiar with the plan.

America’s Student Debt Is More Than COMBINED GDP Of Denmark, Greece, Chile and Israel
America’s student loan debt level has reached a crushing total of $1.16 trillion, according to a quarterly report on household debt and credit released this month by the Federal Reserve Bank of New York.

Canadian drugmaker Valeant agrees to buy US rival Salix for about $10 billion in cash
Canadian drugmaker Valeant Pharmaceuticals International Inc. has agreed to buy Salix Pharmaceuticals Ltd. for about $10 billion in cash.

Oil slump could briefly dip Canadian inflation into the negative: central bank
OTTAWA - The turbulence of the global oil slump could briefly nudge Canadian inflation into negative territory, but the Bank of Canada sees no reason to worry about outright deflation, one of its senior officials said Thursday.

Number of Corporations in U.S. Hit Lowest Level Seen in 40 Years
(CNSNews.com) - The number of corporations in the United States has hit the lowest level seen in 40 years, according to data from the Tax Foundation.

Canadian company behind Keystone to seek US approval for another pipeline
The Canadian company behind the long-delayed Keystone XL oil pipeline will seek U.S. government approval for another pipeline—this one going north.

West Coast port shutdown could cost economy $2B a day
A total shutdown of West Coast ports could cost the U.S. economy about $2 billion per day, the CEO of the National Association of Manufacturers said Wednesday.

Canadian dollar declines as oil prices retreat, traders look to Fed minutes

TORONTO - The Canadian dollar was lower Wednesday as oil prices gave up ground. Traders also looked to the afternoon release of the minutes of the latest U.S. Federal Reserve meeting for indications about when the central bank might move to hike rates.

Wholesale sales up 2.5 per cent to $55.4 billion: Statistics Canada says

OTTAWA - Statistics Canada says wholesale sales rose 2.5 per cent from November to $55.4 billion in December led by the motor vehicle and parts subsector as well as the miscellaneous subsector.

Canada’s economy not reaching potential: Bank of Canada bureaucrat

OTTAWA - The Canadian economy is still operating below its potential and one sign of this is labour market slack, a senior Bank of Canada official said on Tuesday, calling the recent sharp drop in oil prices a “setback.”

Canadian Oil Sands slashes dividend more than expected amid crude drop

CALGARY - Canadian Oil Sands Ltd. (TSX:COS), the biggest partner in the Syncrude Canada Ltd. oilsands project, is slashing its quarterly dividend to five cents a share from 35 as the outlook for crude prices deteriorates.



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