Ford Motors has announced it will cancel a $1.6 billion facility it planned to build in Mexico and instead extend operations at its factory in Michigan. The company will spend $700 million on expanding the plant at Flat Rock. The car giant said it needed to re-organize to use existing facilities more efficiently amid falling… Continue reading Ford Cancels Plans for 1.6BN Mexico Plant to Extend Michigan Operations
Category: Business
VW Golf Overtakes Volvo as Sweden’s Best-Selling Car in 2016
For the first year in more than half a century, Volvo was not Sweden’s best-selling car in 2016. Surprisingly the Volkswagen Golf topped sales, according to Sweden’s automakers’ association, although Volvo still had the largest share of the country’s car market overall. VW Golf made up 5.9% of new cars bought in Sweden, while Volvo’s… Continue reading VW Golf Overtakes Volvo as Sweden’s Best-Selling Car in 2016
Republicans Vote to Weaken Office of Congressional Ethics
Republicans in the House have voted to weaken the Office of Congressional Ethics (OCE), the body that investigates claims of misconduct against members of Congress. Under the change, the independent OCE would come under the control of the House Ethics Committee. Republican leaders in the House had opposed the change. The newly elected Congress meets… Continue reading Republicans Vote to Weaken Office of Congressional Ethics
India Rupee Ban: Last Day to Deposit Old 500 and 1,000 Rupee Notes
Indians have until the end of December 30 to deposit discontinued 500 and 1,000 rupee notes in bank and post office accounts, or risk their money becoming worthless. Last month, the Indian government scrapped the 500 and 1000 rupee notes to crack down on undeclared money and fake cash. The move divided opinion, especially over… Continue reading India Rupee Ban: Last Day to Deposit Old 500 and 1,000 Rupee Notes
Korean Air Will Allow Crew to React Firmly and Actively Against In-Flight Violence
Korean Air will revised its guidelines allowing crew to react “firmly and actively against in-flight violence”, after facing criticism for its handling of an on-board incident, the South Korean carrier has announced. Richard Marx said last week that he had intervened to help restrain a disruptive passenger on a Korean Air flight from Hanoi to… Continue reading Korean Air Will Allow Crew to React Firmly and Actively Against In-Flight Violence
Donald Trump Intends to Dissolve Trump Foundation
Donald Trump’s transitional team has announced that the president-elect intends to dissolve the Trump Foundation that remains under investigation. In a statement, Donald Trump said the move was aimed at avoiding “even the appearance” of any conflict of interest with his presidency. Earlier this year, New York’s Attorney General Eric Schneiderman said that he was… Continue reading Donald Trump Intends to Dissolve Trump Foundation
Donald Trump Receives Private Letter from Vladimir Putin
Donald Trump’s transition team has released a letter that they say was sent to him by Russian President Vladimir Putin. The president-elect said about the note, which is dated December 14, 2016: “A very nice letter from Vladimir Putin; his thoughts are so correct.” On December 22, the two leaders called for their respective nations… Continue reading Donald Trump Receives Private Letter from Vladimir Putin
Deutsche Bank to Pay $7.2 Billion Fine over Mortgage-Backed Securities
Deutsche Bank has agreed a $7.2 billion fine over an investigation into mortgage-backed securities in the US. The sum, which needs final approval, is far lower than the $14 billion the US authorities had asked the German bank to pay in September. That fine had caused concerns that a failure of Deutsche Bank could pose… Continue reading Deutsche Bank to Pay $7.2 Billion Fine over Mortgage-Backed Securities
Donald Trump Calls for US to Strengthen and Expand Nuclear Capabilities
President-elect Donald Trump said the US must “greatly strengthen and expand” its nuclear capabilities “until such time as the world comes to its senses regarding nukes”. His spokesman later said that the presidentelect was referring to the need to prevent nuclear proliferation. Donald Trump spoke hours after President Vladimir Putin said Russia needs to bolster… Continue reading Donald Trump Calls for US to Strengthen and Expand Nuclear Capabilities
IKEA Agrees to Pay $50 Million to Settle Child Deaths Case
IKEA has agreed to pay $50 million to the families of three toddlers killed in by falling dressers, the families’ lawyers have said. According to the lawyers, the payout, one of the biggest of its kind, reflected the seriousness of the case. Curren Collas, 2, Camden Ellis, 2, and 23-month-old Ted McGee were crushed after… Continue reading IKEA Agrees to Pay $50 Million to Settle Child Deaths Case
Donald Trump Picks Peter Navarro to Head White House National Trade Council
Donald Trump has appointed China critic Peter Navarro as the head of the new White House National Trade Council. Peter Navarro will lead the White House National Trade Council and serve as director of trade and industrial policy. The economist was an adviser to Donald Trump during the election campaign. His books include The Coming… Continue reading Donald Trump Picks Peter Navarro to Head White House National Trade Council
Don’t Let Your Business Fall Victim to These Crimes!
Flickr You should never underestimate the manifold ways in which crime can affect your business in a big way. It’s not just the immediate equipment losses and financial hits you have to concern yourself with. You also need to consider this from the point of view of your employees and your customers. Falling victim to… Continue reading Don’t Let Your Business Fall Victim to These Crimes!
VW Reaches Settlement with US and California to Recall 83,000 3-Liter Diesel Cars
VW reached a settlement with US and California authorities to recall 83,000 diesel cars with 3-liter diesel engines, resolving the last major part of its emissions cheating scandal. The agreement, involving VW, Audi and Porsche cars, is another step towards allowing Volkswagen to put the emissions cheating scandal behind it. In June the German auto… Continue reading VW Reaches Settlement with US and California to Recall 83,000 3-Liter Diesel Cars
These Business Legal Issues Will Sting Like A Papercut And Hit You Like A Ton Of Bricks
As a business owner, you probably don’t think too much about legal issues. After all, why do you need to? It’s not like you’re planning on breaking the law. But believe it or not, your aim to stay honest and above the board won’t stop your business from being hit by legal problems. They could… Continue reading These Business Legal Issues Will Sting Like A Papercut And Hit You Like A Ton Of Bricks
Italy Banking Crisis: Government Seeks 20 Billion Euro Bailout
Italy wants to borrow up to €20 billion to support its fragile banking sector and potentially rescue Monte dei Paschi di Siena. Monte dei Paschi di Siena, Italy’s third-largest bank, needs to raise €5 billion in fresh capital by the end of the month. If the bank cannot arrange a private sector bailout, a state… Continue reading Italy Banking Crisis: Government Seeks 20 Billion Euro Bailout
Electoral College Certifies Donald Trump as President
Donald Trump has won the Electoral College vote being certified as president, despite a last-ditch effort to deny him the White House. Six weeks after winning the polls, Donald Trump has secured the 270 votes needed to formalize his victory. Electors had been flooded with emails, letters and phone calls urging them not to support… Continue reading Electoral College Certifies Donald Trump as President
What Is The Electoral College?
The Electoral College was set up by the US founding fathers as a compromise between allowing Congress and the people to elect the president. Technically, Americans cast votes on Election Day for electors, not the candidates themselves. The electors are mostly elected officials or party functionaries whose names are not on the ballot. They are… Continue reading What Is The Electoral College?
Electoral College to Certify Donald Trump as President
On December 19, the Electoral College is expected to certify Donald Trump as the next president of the United States, despite a last-minute effort to thwart the Republican. The 538 electors will vote at state capitols nationwide. A handful of Democratic electors have been organizing a long shot bid to persuade their Republican counterparts to… Continue reading Electoral College to Certify Donald Trump as President
Christine Lagarde Found Guilty of Negligence in Bernard Tapie Case
IMF managing director Christine Lagarde has been found guilty of negligence in Bernard Tapie case. However, France’s Court of Justice did not hand down any punishment. As finance minister in 2008, Christine Lagarde approved an award of €404 million ($429 million) to businessman Bernard Tapie for the disputed sale of a company. Christine Lagarde, who… Continue reading Christine Lagarde Found Guilty of Negligence in Bernard Tapie Case
Your Biggest HR Nightmares And How To Fix Them
At the centre of every thriving business is a dynamic and well-greased HR department. And thanks to changes in the modern economy, the HR department is more important than ever. Never before have people been more important or more integral to business success. It’s people, not capital, that is now the driving force behind most… Continue reading Your Biggest HR Nightmares And How To Fix Them
Venezuela: 100-bolivar Banknote Withdrawal Postponed
Venezuela’s President Nicolas Maduro has announced the withdrawal of the 100-bolivar banknote will be delayed until January 2, 2017. The sudden change of policy comes after days of economic chaos. In a TV address, President Maduro claimed Venezuela had been the victim of international sabotage, which had prevented new 500-bolivar currency notes arriving in time.… Continue reading Venezuela: 100-bolivar Banknote Withdrawal Postponed
Barack Obama Warned Vladimir Putin over Russia’s Interference in US Elections
President Barack Obama has revealed he ordered Russian President Vladimir Putin to “cut it out” in a conversation about email hacking ahead of the US election. Implying that Vladimir Putin knew about the hacks, Barack Obama said: “Not much happens in Russia without Vladimir Putin.” Barack Obama said he had warned the Russian president of… Continue reading Barack Obama Warned Vladimir Putin over Russia’s Interference in US Elections
Michelle Obama Last Interview: “America’s Outlook Had Changed Since Donald Trump’s Election”
In her last TV interview before the family leaves the White House, First Lady Michelle Obama said America’s outlook had changed since Donald Trump won November’s election. Speaking on Oprah Winfrey’s show, Michelle Obama said: “Now we’re feeling what not having hope feels like.” President Barack Obama repeatedly used messages of hope in his presidential… Continue reading Michelle Obama Last Interview: “America’s Outlook Had Changed Since Donald Trump’s Election”
Donald Trump Picks David Friedman as Next US Ambassador to Israel
Right-winger David Friedman is Donald Trump’s choice as the next US ambassador to Israel. David Friedman is strongly critical of the long-held US goal of a two-state solution to the Israeli-Palestinian conflict. The 57-year-old lawyer also supports Jewish settlement building in the occupied West Bank, which the Obama administration considers an “obstacle to peace”. A… Continue reading Donald Trump Picks David Friedman as Next US Ambassador to Israel
Nurofen Scandal: Reckitt Benckiser Hit with Increased Fine in Australia
Nurofen maker, Reckitt Benckiser, has been hit with an increased fine of A$6 million ($4.4 million) for misleading customers in Australia. In 2015, Australia’s Federal Court ruled that products marketed as targeting specific pains, such as migraines, were actually identical. The British company was fined A$1.7 million in April 2016, but Australia’s consumer watchdog argued… Continue reading Nurofen Scandal: Reckitt Benckiser Hit with Increased Fine in Australia