GM’s Ammann to shift to Cruise autonomous venture
General Motors announced Thursday that Dan Ammann will give up duties as president to lead the Cruise autonomous vehicle initiative as the venture moves towards commercial deployment in 2019. Ammann, who has served as the company’s number two executive after Chief Executive Mary Barra, will become CEO of the San Francisco-based Cruise, reporting to Barra….
US workers fear steel tariffs could be nail in the coffin
The mood is tense at a nail factory in rural Missouri, where workers fear that steel tariffs imposed by President Donald Trump’s administration could cost them their jobs. As giant spools of steel feed the manufacturing process, the men and women operating the whirring, screeching machines of the Mid-Continent Nail Corporation wonder if Trump himself…
Macron ‘completely changed’ France’s image, says tech billionaire
President Emmanuel Macron has ‘completely changed’ France’s image, telecoms billionaire Xavier Niel said Wednesday, crediting the youthful, pro-business politician with attracting an influx of tech talent. ‘He has given France a pro-startup, pro-entrepreneur image abroad that we did not really have before,’ said Niel, who bankrolled a giant startup incubator on the banks of the…
Australian markets to open on the up
The Australian market is set to open on the up this week, but is on track for an underperforming year overall. Wall Street and Europe rallied on Friday and that should flow on for a positive start locally come Monday, says AMP Capital’s chief economist Shane Oliver. But house prices and jobs data are likely…
Bank of England prepares cash access boost before Brexit
The Bank of England on Tuesday said it was preparing to give lenders greater access to cash borrowing in its latest move to help bring financial stability ahead of Brexit.‘The Bank will increase the frequency of existing market-wide sterling (cash loans)… from monthly to weekly over the weeks surrounding the planned EU withdrawal date,’ the…
No interest loans for NSW household solar
Up to 300,000 households across NSW will be able to install solar panels and batteries with no upfront costs under an interest-free loan scheme offered by the state government. Premier Gladys Berejiklian on Sunday announced the Empowering Homes program, a 10-year scheme to incentivise the installation of solar panels and battery storage systems. ‘We know…
Canada ambassador walks back comments on Huawai executive
Canada’s ambassador to China on Thursday walked back comments that Huawei executive Meng Wanzhou has a ‘strong case’ against extradition to the United States, following a political backlash.Ambassador John McCallum said in a statement that he ‘misspoke’ and ‘regrets that my comments with respect to the legal proceedings of Ms. Meng have created confusion.’Meng was…
Netflix apologizes for use of Quebec rail disaster footage
Netflix has rejected a Quebec government request that it pull footage of a 2013 Canadian rail disaster from its film ‘Bird Box,’ while apologizing for any pain it may have caused.In a letter to Quebec Culture Minister Nathalie Roy, Netflix also promised not to use the Lac Megantic crash footage in future productions.But it said…
Labor warned over dividend reform policy
The Australian Labor Party may be slightly out in front when it comes to the polls, but its fiscal policies are going to get a rigorous public airing. Labor’s negative gearing reforms faced criticism from many sides of the political sphere but did receive some strong backing from other sectors. Next on the list is…
Amazon France under fire for destroying unsold goods
US online retailer Amazon faced new French government pressure Monday after a TV report over the weekend showed it destroying thousands of new diapers, toys and other unsold or returned items in perfect condition.Brune Poirson, a secretary of state for France’s ecological transition, said after the broadcast late Sunday that she was ‘shocked’ by the…
