World – Tech2.Org https://tech2.org Largest Nonprofit Digital Media. We work to Give a Voice to the powerless, to help Public & to Illuminate their lives. Mon, 24 Jun 2019 12:46:08 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 Ford’s China business hit with $23.6 million fine https://tech2.org/fords-china-business-hit-with-23-6-million-fine/ Wed, 05 Jun 2019 09:10:25 +0000 https://tech2.org/fords-china-business-hit-with-23-6-million-fine/

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The Chinese State Administration for Market Regulation slapped Changan Ford with a fine of 162.8 million yuan ($ 23.6 million) for setting minimum resale prices on its cars in the city of Chongqing, according to a statement published on Wednesday in the regulator website.

The fine amounts to 4% of the company's sales in Chongqing last year. Ford (F) it owns 50% of the joint venture, and the rest is controlled by its local partner, the state-owned automobile manufacturer Changan Automobile.

Changan Ford's actions deprived distributors of price autonomy, restricted competition and damaged the legitimate interests of consumers, the regulator said.

Car sales fall in China for the first time in 20 years

Ford said it "respects" the decision of the market regulator.

"Changan Ford has taken corrective action in its regional sales management along with its dealers," a Ford spokesman said in a statement.

"As an ethical company, Ford is committed to complying with local laws and regulations wherever we do business," the spokesperson added.

The movement in a famous American automaker comes at a tense moment in relations between the United States and China.

Huawei could be the first major victim of China's clash with the United States

The escalation of the trade war between the two countries and the punitive tit-for-tat actions have sent shivers through the global economy and has shaken investors.

After Washington banned US companies from supplying critical components and software to Chinese technology giant Huawei, Beijing announced that it was establishing its own blacklist for foreign companies.
Earlier this week, the Chinese government said it is investigating FedEx after Huawei said the delivery company diverted two packages to the United States to the company's offices in China.
Ford will present 30 new models in China for 3 years.

The penalty also occurs when Ford is trying to recover the lost ground in China.

The automaker announced in April that it plans to launch more than 30 new Ford and Lincoln vehicles in China over the next three years as it attempts to reverse a decline in sales in the world's largest auto market.

China is the second largest Ford market after the United States. But like other automakers, it is feeling the effects of the fall of China's auto industry: Ford's sales in the country dropped almost 40% in 2018 compared to the previous year.
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Wall Street soars on U.S. rate cut hopes https://tech2.org/wall-street-soars-on-u-s-rate-cut-hopes/ Wed, 05 Jun 2019 09:02:50 +0000 https://tech2.org/wall-street-soars-on-u-s-rate-cut-hopes/

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NEW YORK (Reuters) – The three major Wall Street indices rose on Tuesday to post their biggest one-day gains in five months after Federal Reserve Chairman Jerome Powell left the door open for a possible rate cut .

Powell said the central bank will act "as appropriate" to address the risks of the trade war a day after St. Louis Fed chief James Bullard said a rate cut could soon be justified. Powell said the Fed was "closely monitoring the implications" of a trade dispute that has disrupted global markets.

The last time the S & P benchmark showed a higher daily percentage increase was on January 4, when Powell became more moderate after a sell-off late in 2018, with the promise that the Fed would be patient and flexible in your trajectory of interest rates.

Investors have bet that the Fed would cut rates at least once by the end of 2019, according to the CME Group Fedwatch, and comments on Tuesday helped support these bets.

"Given the fact that there is more than a 95 percent chance of a rate cut in fixed income, it is good to hear that the Fed says it will wait for the economy to tell it what to do, if the economy slows down due to Tariffs, the Federal Reserve would consider lowering rates, "said JJ Kinahan, chief market strategist at TD Ameritrade in Chicago.

The Dow Jones Industrial Average increased 512.4 points, or 2.06%, to 25,332.18, the S & P 500 gained 58.82 points, or 2.14%, to 2,803.27 and the Nasdaq Composite added 194.10 points, or 2.65%, to 7,527.12.

The S & P 500 returned more than 6% in May, as investors feared a slowdown in global growth, while trade tensions increased between the United States and China and the United States and Mexico.

"When the market has fallen as much as before, all you need is a bit of a spark," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.

Nolte said investors were also encouraged after Mexican President Andres Manuel Lopez Obrador said he was optimistic that an agreement could be reached even when US President Donald Trump said he would probably continue with the agreement. the new rates for all Mexican products.

A screen shows the Dow Jones Industrial Average after the close of operations on the floor of the New York Stock Exchange (NYSE) in New York, USA. UU., June 4, 2019. REUTERS / Brendan McDermid

A Washington Post report that Republican lawmakers were discussing whether they would have to vote to block the new tariffs planned by President Trump in Mexico also helped the confidence.

Earlier, China's trade ministry said differences and friction with Washington should be resolved through dialogue.

But Kinahan de Ameritrade advised taking commercial stories "with a grain of salt because it can change tomorrow".

"We will continue to see that the rates take us from one place to another, particularly now that we have finished with the profits, it is the main game in the city," he said.

Nasdaq's rebound in Tuesday's technology came after it confirmed a correction on Monday, as it lost more than 10% from its all-time high on May 3.

The technology sector was the biggest boost for S & P with a 3.3% advance, led by gains in Apple Inc and Microsoft.

Increasing yields on US Treasury bonds UU They boosted the S & P 500 banking index, which rose by 3.65%.

Only the real estate sector that pays dividends ended the day in red with a fall of 0.6% when investors poured their money into riskier bets.

But utilities, which are generally considered one of the most defensive bets, slightly outperformed their level with a gain of 0.04%.

Slideshow (2 images)

The forward issues outperformed the declines in the New York Stock Exchange in a ratio of 4.07 to 1; On the Nasdaq, a ratio of 3.18 to 1 favored the promoters.

The S & P 500 recorded 25 new highs of 52 weeks and 1 new lows; The Nasdaq Composite recorded 44 new highs and 74 new lows.

In the United States exchanges, 7.53 billion shares changed hands compared to the average of 7.16 billion in the last 20 sessions.

Additional reporting by Caroline Valetkevitch in New York, Medha Singh, Amy Caren Daniel and Shreyashi Sanyal; Edition by Anil D & # 39; Silva and Dan Grebler

Our Rules:The principles of trust of Thomson Reuters.
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Southwest Airlines launches 3-day sale with flights from Phoenix starting at $49 https://tech2.org/southwest-airlines-launches-3-day-sale-with-flights-from-phoenix-starting-at-49/ Wed, 05 Jun 2019 08:55:07 +0000 https://tech2.org/southwest-airlines-launches-3-day-sale-with-flights-from-phoenix-starting-at-49/

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PHOENIX – Southwest Airlines has launched a new three-day sale, with offers from Phoenix starting at $ 49!

The main announcement of the agreement lists nonstop flights between Phoenix and Las Vegas to $ 49, but when looking at the offer, we have found even more great deals.

Flights to and from Phoenix for $ 49:

Albuquerque, NM

Burbank, CA

El Paso, Texas

Los Angeles, CA (LAX)

Ontario / LA, CA

San Diego, CA

Flights to and from Phoenix for $ 99:

Dallas, TX

Houston, TX

Seattle, WA

Omaha, NE

Oklahoma City, OK

These are just some of the offers we saw! The agreement extends until the end of Thursday, and seats are limited. To see the full list of discounts, or to reserve,

CLICK HERE.

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IKEA Wants to Sell You Robotic Furniture for Your Tiny Apartment https://tech2.org/ikea-wants-to-sell-you-robotic-furniture-for-your-tiny-apartment/ Wed, 05 Jun 2019 08:47:54 +0000 https://tech2.org/ikea-wants-to-sell-you-robotic-furniture-for-your-tiny-apartment/

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Furniture, Riding!

Swedish furniture manufacturer IKEA has partnered with US startup Ori to create a line of robotic furniture that allows people to "create the houses of their dreams in small spaces."

The ROGNAN line optimizes a limited number of square feet by converting the space into a modular and adaptable living room. A video shows a closet-sofa combination that can hide a bed under itself to save space.

Retrench of space

The system can also be moved forward and backward thanks to a set of wheels with buttons below. The part of the closet can fit a ton of your stuff without losing a square foot of space.

In total, the new all-in-one "Transformers" style can save a bed, a sofa, a large storage capacity and even a desk in a space of approximately 115 square feet (10 square meters), according to Engadget – which means that even the smallest bachelor pad could fit into one of those.

Theft-Furniture

The ROGNAN robotic furniture line will go on sale in IKEA stores next year. IKEA will publish more information and details later this summer.

The furniture manufacturer has recently appeared in the news for announcing new and innovative products that go beyond the limits of what we consider furniture, or, at least, discover our ways to make efficient use of your small dystopian apartment.

READ MORE: IKEA works on robotic furniture for small apartments.

The[[Engadget]

More about IKEA: Things in IKEA's biodegradable packaging will now make tasty meats grown in the laboratory

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Sanders Hands Over His Social Media Accounts to Walmart Workers Ahead of Attending Annual Meeting to Advocate for Employees https://tech2.org/sanders-hands-over-his-social-media-accounts-to-walmart-workers-ahead-of-attending-annual-meeting-to-advocate-for-employees/ Wed, 05 Jun 2019 08:41:02 +0000 https://tech2.org/sanders-hands-over-his-social-media-accounts-to-walmart-workers-ahead-of-attending-annual-meeting-to-advocate-for-employees/

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Sen. Bernie Sanders delivered his social media accounts to Walmart workers on Tuesday, a day before the Democratic presidential candidate attends the annual meeting of the retail giant, at the invitation of some employees, to advocate for higher wages and introduce a proposal from the shareholders. which aims to ensure that hourly workers are represented on the board of the company.

Sanders is in favor of the expansion of labor rights and critical of Walmart. During the last session of the Congress, Sanders (I-Vt.) And Representative Ro Khanna (D-Calif.) Introduced the Stop WALMART Act, which would prohibit large US corporations from paying employees $ 15 per hour more. The benefits of repurchasing their own shares.

"What the workers want is a seat at the table," the senator said in an introductory video posted on Twitter on Tuesday. "My message to the Walton family will be: We are tired of subsidizing you, pay your workers a living wage."

The Walmart workers shared their stories in additional videos posted on the presidential candidate's Twitter profile and on the Facebook page.

Adriana Bautista, who lives in Texas and has worked at Walmart for 14 years, said in Spanish: "I am the mother of four beautiful girls and they are the ones who suffer when my employer gives me only 15 hours of work per week."

"It's time for workers like me," continued Bautista, "to have a voice at the Walmart executive table."

Cynthia Murray, a 19-year associate of Walmart in Maryland, highlighted the earnings of shareholders, especially the Walton family, compared to "workers who can not even buy food at the end of the day."

"That's a shame," said Murray. "The greed of the Waltons must end."

In asking politicians to "join the people who elected them," Murray added: "Join me and Bernie Sanders to demand that the wealthiest family in the United States pay all of their workers a living wage of $ 15 per hour. "

The shareholders' proposal that Sanders plans to present was presented by Cat Davis, an employee of Walmart and leader of the labor rights group United for Respect. The annual Walmart shareholders meeting is scheduled to begin Wednesday in Bentonville, Ark., At 10 am local time. According to a press release, the meeting will be broadcast on the company's website here.

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Global Economy Cools Faster Than Expected as Trade Tensions Rise, World Bank Says https://tech2.org/global-economy-cools-faster-than-expected-as-trade-tensions-rise-world-bank-says/ Wed, 05 Jun 2019 08:07:48 +0000 https://tech2.org/global-economy-cools-faster-than-expected-as-trade-tensions-rise-world-bank-says/

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WASHINGTON. The world economy has stumbled considerably in the first half of the year, as trade and investment flows between countries fell faster than expected, according to the semi-annual forecasts published by the World Bank on Tuesday.

With almost half a year of data to its credit, the World Bank reduced its global growth forecast to 2.6% in January from 2.9%, and reduced its forecast for growth in trade to 2.6% from 2.6%.

"There is …

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Hunger for meatless burgers has Cincinnati restaurants scrambling – WKRC TV Cincinnati https://tech2.org/hunger-for-meatless-burgers-has-cincinnati-restaurants-scrambling-wkrc-tv-cincinnati-2/ Wed, 05 Jun 2019 08:00:35 +0000 https://tech2.org/hunger-for-meatless-burgers-has-cincinnati-restaurants-scrambling-wkrc-tv-cincinnati-2/

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  1. The hunger for meatless burgers has restaurants in Cincinnati that revolt WKRC TV Cincinnati
  2. Beyond the outbursts of Meat's actions in the report that meatless companies are struggling to meet demand CNBC
  3. Fast food embraces hamburgers without meat, but there is not enough to go around the Wall Street Journal
  4. And if eating meat is not only bad, but it is obsolete? The Guardian
  5. The Impossible Burger is just an exaggerated flaw in the New York Post in New York
  6. See full coverage in Google News
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Why Mattel, Continental Resources, and The Trade Desk Jumped Today https://tech2.org/why-mattel-continental-resources-and-the-trade-desk-jumped-today/ Wed, 05 Jun 2019 07:52:41 +0000 https://tech2.org/why-mattel-continental-resources-and-the-trade-desk-jumped-today/

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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The stock market rose on Tuesday, driven by comments that They suggested that the Federal Reserve might be willing to reduce interest rates in the United States if the economy begins to show signs of weakness.The comments of several central bank officials seemed to open the door to a sudden reversal of the policy as soon as The meeting was held at the end of this month, despite the fact that the Fed invested most of the last two years raising interest rates, the main indexes rose approximately 2%, but some shares recorded gains still greater. Mattel (NASDAQ: MAT), Continental resources (NYSE: CLR)Y The trade table (NASDAQ: TTD) They were among the best interpreters. Here's why they did it so well. "Data-reactid =" 11 "> The stock market rose on Tuesday, boosted by comments that suggested the Federal Reserve might be willing to lower interest rates in the US If the economy begins to show signs, the statements of several central bank officials seemed to open the door to an abrupt reversal of the policy as soon as it met later this month, despite the fact that the Fed spent a large part of it. in recent years, raising interest rates, the indexes rose by approximately 2%, but some shares registered even higher profits. Mattel (NASDAQ: MAT), Continental resources (NYSE: CLR)Y The trade table (NASDAQ: TTD) They were among the best interpreters. Here's why they did it so well.

Mattel makes some moves.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Shares of Mattel climbed almost 12%. As the toy manufacturer announced that it would enter into some partnerships designed to expand the reach of its product line. One partnership involves a movie based on Mattel's Magic 8 Ball toy, but probably the most important deal made Mattel sign an international licensing agreement with Sanrio, the company behind the international success Hello Kitty. With toys based on Hello Kitty that will be launched almost all over the world by the end of 2020, Mattel hopes to increase its global appeal, and although the toy company knew that it would be eliminated from the S & amp; P 500 to the S & amp; P 400 Midcap index, shareholders believe that Mattel will be in a better position in the future. "data-reactid =" 13 "> Mattel shares rose almost 12% when the toy maker announced that it would enter into some partnerships designed to expand the reach A partnership involves a movie based on Mattel's Magic 8 Ball toy, but probably the most important agreement made Mattel sign an international license agreement with Sanrio, the company behind the international success Hello Kitty. Hello Kitty, launched worldwide at the end of 2020, Mattel hopes to increase its global appeal, and although the toy company knew it would be degraded from the S & P 500 to the S & P 400 Midcap Index, shareholders think that Mattel will be in a better position in the future.

Design of the Blokus box with colored pieces and game board.

Mattel owns many toy and game franchises, including Blokus. Image source: Mattel.

Continental becomes friendly with shareholders

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Continental resources its shares rose 15% after the oil and gas exploration and production company surprised investors by announcing measures to return capital to its shareholders. Continental said it would start paying a dividend of $ 0.05 per share on a quarterly basis, giving it a moderate initial return of 0.5%. In addition, the energy company said it would authorize a share repurchase program for $ 1 billion, which is considerable given its market capitalization of approximately $ 15 billion. Even in a challenging environment for energy prices, Continental has done a great job to get a better financial position. Today, shareholders are reaping the rewards for their patience, and although the company still has more work to do, things look more promising for Continental than in a long time. "Data-reactid =" 27 "> Continental Resources saw Their actions The US increased 15% after the oil and gas exploration and production company surprised investors by announcing measures to return capital to its shareholders, and Continental said it would begin paying a dividend of $ 0.05 per share on a quarterly basis, giving it a modest initial performance In addition, the energy company said it would authorize a $ 1 billion stock repurchase program, which is considerable given its market capitalization of approximately $ 15 billion even in a challenging environment for energy prices , Continental has done a great job to achieve it, financially better. having the rewards for their patience, and although the company still has more work to do, things look more promising for the continentals they have in a long time.

The Trading Table is trading upwards.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Finally, the actions of The Trade Desk soared 13 % The programmatic advertising specialist had seen considerable losses over the past week, as investors in general were scared of exposure to high-growth technology companies, however, as some of those who follow antitrust concerns among high-tech companies Larger technology have noticed, The trading desk potentially offers competition to its larger colleagues to help users evolve through obsolete internet business models and mobile advertising. Investors have become accustomed to the fact that The Trade Desk's shares are volatile, but in today's big move, the optimism that the advertising company can take advantage of the growth opportunities seemed convincing. "Data-reactid =" 29 " > Finally, The Trade Desk's stock shot up The programmatic advertising specialist had seen considerable losses over the past week, as investors in general were scared of exposure to high-growth technology companies. Following the antitrust concerns among the largest technology companies have noticed, The Trade The desktop potentially offers competition to its larger colleagues to help users evolve through obsolete Internet business models and mobile advertising. They have become accustomed to the fact that the actions of The Trade Desk are volatile, but in the great movement Today, the optimism is that the advertising company can take advantage of the opportunities for growth seemed convincing.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " More from The Motley Fool "data-reactid =" 30 "> More from The Motley Fool

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Dan Caplinger It has no position in any of the actions mentioned. The Motley Fool owns shares and recommends The Trade Desk. The Motley Fool has a disclosure policy."data-reactid =" 38 ">Dan Caplinger has no position in any of the actions mentioned. The Motley Fool owns shares and recommends The Trade Desk. The Motley Fool has a disclosure policy.

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China fines Ford’s Changan venture $24 million for violating anti-monopoly law By Reuters https://tech2.org/china-fines-fords-changan-venture-24-million-for-violating-anti-monopoly-law-by-reuters/ Wed, 05 Jun 2019 07:45:05 +0000 https://tech2.org/china-fines-fords-changan-venture-24-million-for-violating-anti-monopoly-law-by-reuters/

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© Reuters. China fines Ford's Changan company with $ 24 million for violating antitrust law

SHANGHAI (Reuters) – China's market regulator said on Wednesday it fined Ford Motor (NYSE 🙂 Co-joint venture with Changan Automobile Group 162.8 million yuan ($ 23.55 million) for violating the antitrust law.

The State Administration for Market Regulation said on its website that the joint venture, Changan Ford, had established a minimum resale price for its cars in the Chinese municipality of Chongqing since 2013, in violation of the law.

The joint venture did not provide evidence that this complied with the country's antitrust law during the investigation, he said.

"The actions of Ford Changan deprived dealers of their price autonomy, excluded and restricted competition within the brand, and damaged fair competition in the market and the legal interests of consumers," he said.

The fine is equivalent to 4% of sales of the joint venture in Chongqing last year, he added.

Ford and Changan did not respond immediately to requests for comment. Shares in Changan Auto fell more than 5 percent after the news on Wednesday morning.

The movement of the regulator occurs when Ford has been struggling to revive sales in China, the second largest market worldwide for automaker Dearborn, Michigan, where its business began to plummet at the end of 2017.

The president of Changan told Reuters in April that he expects sales at his Ford joint venture to recover later this year.

Resignation: Means of fusion I would like to remind you that the information contained on this website is not necessarily accurate or in real time. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but by the market makers, so the prices may not be exact and may differ from the real market price, which means that the prices are indicative and not suitable for commercial purposes. Therefore, Fusion Media assumes no responsibility for commercial losses that may occur as a result of the use of this data.

Means of fusion or any person involved with Fusion Media will not accept any liability for loss or damage as a result of relying on the information, including data, quotes, graphics and purchase / sale signals contained on this website. Be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investment possible.

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China Fines Ford Venture as Tensions With U.S. Escalate – Bloomberg https://tech2.org/china-fines-ford-venture-as-tensions-with-u-s-escalate-bloomberg/ Wed, 05 Jun 2019 07:38:01 +0000 https://tech2.org/china-fines-ford-venture-as-tensions-with-u-s-escalate-bloomberg/

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  1. China points to Ford Venture as tensions with U.S. Escalate Bloomberg
  2. China fines Ford's Changan company with $ 24 million for violating antitrust law Investing.com
  3. Chinese regulators slap Ford's joint venture with a $ 23.6 million CNN fine
  4. China's antitrust regulator fined Ford's Changan company for $ 23.6 million for price infractions amid worsening trade tensions with the United States.
  5. China imposes on Ford a joint venture of $ 34 million by antitrust law The Australian
  6. See full coverage in Google News
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