• San Francisco subpoenas Uber, Lyft
San Francisco subpoenas Uber, Lyft

Bellavia said she wants the city to treat Uber and Lyft as they treat taxis. The three requirements are that workers must be "free from the control and direction" of the hiring company; perform work that is "outside the usual course of the hiring entity's business"; and be customarily engaged in an independently established trade, occupation or b...

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  • Markets relieved as Italy govt sworn in
Markets relieved as Italy govt sworn in

Giuseppe Conte , plucked from academic obscurity to run a coalition government which teams the Five Star Movement and the anti-migrant League party, will be sworn in with his cabinet by President Mattarella at 4pm in Rome . Salvini, the bombastic and xenophobic leader of the League, who rose in politics in recent years on the back of incendiary ...

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  • Trump Says He Was 'Looking Forward' to Jobs Report
Trump Says He Was 'Looking Forward' to Jobs Report

He also, before he took office, often dismissed the reports as "fiction". Service providers boosted employment by 171,000, led by increases in retail; education and health services; leisure and hospitality; and transportation and warehousing.

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  • Buffett proposed to invest $3 billion in Uber, but talks failed
Buffett proposed to invest $3 billion in Uber, but talks failed

Berkshire Hathaway was interested in a convertible loan to Uber that would have protected Buffett's investment should Uber hit financial straits, while providing significant upside, sources told Bloomberg . Berkshire had US$108.6 billion in cash and equivalents as of the end of March that it is eager to invest, Reuters noted. Buffett said t...

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  • Trump hits back at Trudeau's criticism of 'punitive' US metal tariffs
Trump hits back at Trudeau's criticism of 'punitive' US metal tariffs

Trump had taken a slightly less adversarial public approach with Canada and Mexico during the initial stages of the negotiations, but that ended several months ago. "A trade war is when there is an escalation of conflict". That included Chapter 19, which allows for anti-dumping panels that Trump's team wants to kill, and government procurement co...

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  • French magazine, president slam backlash evoked after putting Erdoğan on its cover
French magazine, president slam backlash evoked after putting Erdoğan on its cover

The lira gained around 2.7 percent in value against the dollar after the bank's announcement, rallying to 4.57 against the greenback, and 5.32 against the euro. Erdogan, with an eye on growth, strongly opposes rate rises but appears to have been persuaded to accept the bank's emergency rate hike last week. The central bank's unwillingness to us...

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  • Deutsche Bank Is Sick but Not at Death's Door
Deutsche Bank Is Sick but Not at Death's Door

The secret designation from the Fed took place about a year ago and forced Deutsche to dial back its risk taking, The Wall Street Journal reported on Thursday. Although Deutsche Bank's senior debt has held up well, its junior and hybrid debt instruments that would be vulnerable if the bank got into serious financial trouble have underperformed.

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  • Euro bounces off 10-month lows as Italy tries to end turmoil
Euro bounces off 10-month lows as Italy tries to end turmoil

Assuming the new government gets a green light from Mattarella , Salvini will be the interior minister and Di Maio will take a powerful, newly-created joint ministry made up of the labour and industry portfolios, the parties said. The S&P 500 Futures Index dropped 1% to its lowest in the last three weeks. Financial markets expect the European Ce...

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  • Chick-Fil-A location to pay employees $18 per hour
Chick-Fil-A location to pay employees $18 per hour

The minimum wage in California is now $11 per hour with a $1 an hour increase until 2022, bringing the state's minimum wage to $15 per hour. "What we are going to be looking for is people trying to raise families", Mason said . "I think it's going to be a really long time before automation starts to replace workers in a big way", Solochek said. ...

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  • Canada/US on verge of trade war?
Canada/US on verge of trade war?

As well as facing new tariffs , European steel producers face a double blow as steel that would have been bound for the U.S. floods into Europe. In the case of Canada and Mexico, Ross said the decision was based on a lack of progress in the ongoing talks to update the North American Free Trade Agreement.

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  • OECD revises downward growth estimate for Japan
OECD revises downward growth estimate for Japan

In the United States, growth would accelerate by 2.9 percent in 2018, then inch down to 2.8 percent in 2019, it said. New Zealand's economic growth is set to continue to beat the average of the 35 member countries of the Organisation for Economic Cooperative and Development, as activity shifts away from consumption and towards investment, the OE...

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  • Waymo to get more than 60000 cars from Fiat Chrysler for robotaxis
Waymo to get more than 60000 cars from Fiat Chrysler for robotaxis

He added, "We're excited to deepen our relationship with FCA that will support the launch of our driverless service, and explore future products that support Waymo's mission". Waymo continues to get closer to its goal of launching a ride-hailing service that uses self-driving vehicles to the public. The company already had bought 600 Pacifica...

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  • Trump’s visa restrictions aimed at Chinese STEM students to start in June
Trump’s visa restrictions aimed at Chinese STEM students to start in June

The move, which the White House announced Tuesday morning, comes just over a week after Treasury Secretary Steven Mnuchin said the trade war between the two countries was "on hold" and will ratchet up tensions just before Commerce Secretary Wilbur Ross is set to arrive in Beijing this week for further talks.

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  • Trump to implement steel, aluminum tariffs against EU, Canada and Mexico
Trump to implement steel, aluminum tariffs against EU, Canada and Mexico

Ross denied claims that USA tariffs would harm its own steel-consuming industries. The hardball tactics will trigger retaliatory tariffs on USA goods, hurting exporters, which could further escalate into a tit-for-tat trade war. "The responsibility falls exclusively on to U.S. authorities", Le Maire said. She said the tariffs were in violat...

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  • Will Starbucks anti-bias training for employees be effective?
Will Starbucks anti-bias training for employees be effective?

He called it the first step of many . Team members broke into small groups to talk about their own experience and watched a film about bias. According to training materials provided by the company, they were also asked to pair up with a co-worker and list the ways they "are different from each other ".

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  • Europe Responds Swiftly to US Tariffs, Threatens Retaliation
Europe Responds Swiftly to US Tariffs, Threatens Retaliation

Brazil, Argentina and Australia have agreed to limit steel shipments to the U.S. in exchange for being spared the tariffs , the Commerce Department said. In response, the European Commission confirmed it would be triggering a dispute settlement case at the World Trade Organisation and will impose "rebalancing measures and take any necessary step...

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  • Bombardier to Build Two New Luxury Aircraft Amid Growing Demand
Bombardier to Build Two New Luxury Aircraft Amid Growing Demand

Bombardier , Global , Global 5500 , Global 6500 , Global 7500 , Global 8000 and Nuage are registered or unregistered trademarks of Bombardier Inc. Also at the show, business aviation advocacy groups said they plan to "redouble their focus" on advancing the development and adoption of sustainable alternative jet fuels, with the goa...

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  • USA stocks jump as worries about Italy ease; oil prices climb
USA stocks jump as worries about Italy ease; oil prices climb

The Dow Jones Industrial Average rose 306.33 points, or 1.26 per cent, to 24,667.78, the S&P 500 gained 34.15 points, or 1.27 per cent, to 2,724.01, and the Nasdaq Composite added 65.86 points, or 0.89 per cent, to 7,462.45. Shares of energy companies were also led lower by a drop in US crude oil futures on expectations that Saudi Arabia and Ru...

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  • Trump wants to ban German cars from America
Trump wants to ban German cars from America

According to Reuters , German carmakers control 90 percent of the us premium auto market, with BMW owning the Rolls-Royce and BMW brands, while Daimler has Mercedes-Benz and Volkswagen controls Bentley, Bugatti, Porsche and Audi. This ban would come just hours before the U.S. is set to implement its metal tariffs on European Union nations, ...

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  • Two-day Nationwide Bank strike from tomorrow
Two-day Nationwide Bank strike from tomorrow

Union leaders reject the banks' excuse, however, emphasizing that low-wage employees shouldn't have to pay the price for companies defaulting on loans. In the last wage settlement, for the period from November 2012 until October 2017, the IBA gave a 15% wage hike. While online bank operations will remain fully functional, transactions at branches a...

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