Business Archives - Page 13 of 23

Trump trade wind just a breeze for Asia stocks inured to pain

March 7, 2018 Loknath Dasa, Asia, breeze, for, inured, Just, Pain, stocks, to, trade, Trump:, Wind

A file photo of US President Donald Trump. Stefan Hofer, Asia chief investment strategist at LGT Bank AG, says Hong Kong’s stock market is relatively insulated from trade war concerns with the local economy dominated by financials and property companies. Photo: Reuters Hong Kong: While trade paranoia engulfed everything from US index futures to the dollar and bond markets, it was a different story for Asian equities, as investors weighed competing risk factors affecting the outlook for a region square in the targets of President Donald Trump. Stocks across the Asia-Pacific…

JPMorgan Chase Admits Cryptocurrency Is a ‘Risk’ to its Business for the First Time

February 28, 2018 Loknath Das'First, a, Admits, business, Chase, Cryptocurrency, for, Is, Its, JPMorgan, Risk, The, Time, to

Despite JPMorgan Chase CEO Jamie Dimon having called Bitcoin a “fraud,” the big bank is now taking cryptocurrency very seriously—acknowledging the blockchain-based technology as a veritable threat to its future. In JPMorgan Chase’s annual report, released Tuesday afternoon, the bank counted cryptocurrencies such as Bitcoin and Ethereum as “risk factors” to its business for the first time, recognizing the digital currencies as new forms of competition that could, quite literally, give the bank a run for its money. “Both financial institutions and their non-banking competitors face the risk that payment processing and other services…

Amazon is buying Ring, a business that was once rejected on ‘Shark Tank’

February 28, 2018 Loknath Dasa, Amazon, business, Buying, Is, On, once, Rejected, Ring, Shark, Tank', That, Was

Adam Taylor | ABC | Shark Tank Ring CEO Jamie Siminoff on ABC’s “Shark Tank” in season 5. Tuesday, Amazon agreed to buy Ring, a company that makes smart doorbells, according to representatives of both companies. “Ring’s home security products and services have delighted customers since day one. We’re excited to work with this talented team,” an Amazon spokesperson told CNBC Tuesday. While the official deal hasn’t yet been announced, it could cost Amazon over $1 billion, according to Reuters. Amazon buys digital doorbell maker Ring For Ring’s CEO and founder Jamie Siminoff, achieving…

Ford is setting up for an autonomous ride-hail and delivery business in Miami

February 28, 2018 Loknath Dasan, and, autonomous, business, Delivery, for, Ford, In, Is, Miami, ride-hail, setting, Up

An Argo AI-powered Ford vehicle driving down the streets of Miami. Ford Ford is laying the groundwork for its autonomous vehicle business in Miami, Fla. It’s a three-pronged approach that is still in its infancy, but includes a delivery pilot in partnership with Dominos and Postmates, testing self-driving cars around the city and setting up a fleet-management center. Many other companies in the self-driving space have begun testing both delivery and ride-hail services, but few have established dedicated fleet-management centers that will facilitate the maintenance and operation of these driverless vehicles.…

Retail Inflation For January Eases To 5.07%, IIP for December at 7.1%

February 12, 2018 Loknath Das5.07%, 7.1%, at, December, Eases, for, IIP, Inflation, January, Retail, to

The annual retail inflation slightly eased in January to 5.07 per cent from the 17-month high hit in December, as food prices ebbed, data from the Ministry of Statistics showed on Monday. Based on Consumer price index (CPI), the inflation was at 5.21 per cent in December — a 17-month high, and 3.17 per cent in January last year. On the other hand, the growth of India’s factory production slowed in December to 7.1 per cent from a rise of 8.80 per cent in November and a 2.4 per cent…

ArcelorMittal Submits Offer For Debt-Laden Essar Steel

February 12, 2018 Loknath DasArcelorMittal, Debt-Laden, Essar, for, Offer, Steel, Submits

The steel major said Essar would also have access to deep technical expertise London: ArcelorMittal on Monday said that its subsidiary ArcelorMittal India Pvt Ltd (AMIPL) has submitted an offer for Essar Steel India Limited in line with the corporate insolvency resolution process for Indian steel company. In its offer, AMIPL set out a detailed industrial plan for the debt-laden steel maker to address its operational issues and aimed at improving its performance and profitability. “Essar provides a compelling opportunity for us to enter the high growth Indian steel market. The…