• Canada’s Sunrise Records to buy failing HMV
Canada’s Sunrise Records to buy failing HMV

The remaining 27 stores will be closed immediately and 455 staff will be made redundant, the administrators said. 1,487 jobs have however been retained, with a further 122 secured in warehouses. We get wonderful support, which is great. Hilco blamed a "tsunami" of retail challenges for the latest collapse, highlighting business rate levels and th...

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  • Tesla snaps up U.S. ultracapacitor maker, in bid to cut EV costs
Tesla snaps up U.S. ultracapacitor maker, in bid to cut EV costs

In a presentation, Maxwell said it expected strategic alliances "within six months" centered around this technology. Maxwell shares were halted on the news. Maxwell Technologies' customers include General Motors and Lamborghini . The purchase price of US$4.75 a share, announced by Maxwell in a statement on Monday, amounts to about a 55 per cen...

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  • Google parent Alphabet earnings shine but market wary
Google parent Alphabet earnings shine but market wary

Capital expenditures rose 64 percent compared to a year ago, up to $7.08 billion. Analysts expect sales growth to slow to 19 percent this year from 23 percent in 2018, according to data compiled by Bloomberg. Overall, Google's revenue for the quarter was $39.1 billion, up 22% from the $32.2 billion recorded during the 2017 fourth quarter. Refinitiv...

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  • Founder of crypto exchange dies taking only password (and $190M) with him
Founder of crypto exchange dies taking only password (and $190M) with him

The debt filing comes weeks after Robertson announced that Cotten had died - an event she described as "a shock to all of us". QuadrigaCX , which filed for bankruptcy protection in the Supreme Court of Nova Scotia on January 31, was created to " simplify the process of buying and selling " the bitcoin cryptocurrency , according to a cached ve...

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  • Elon Musk shows off first firing of SpaceX's Starship Raptor engine
Elon Musk shows off first firing of SpaceX's Starship Raptor engine

Musk has said the prototype could start doing short-hop tests within the next month or two; although that schedule may have been set back by a storm that damaged the Hopper last month during construction. The Super Heavy mounts 31 Raptor engines, while the Starship has seven. In later responses, Musk said that the first orbital prototype sho...

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  • General Motors to Announce Mass Layoffs to Employees This Morning
General Motors to Announce Mass Layoffs to Employees This Morning

GM is expected to complete its plans to cut 15 percent of its salaried workforce by the end of this month. But on Friday a GM spokesman said the automaker had trimmed about 1,500 contract jobs, meaning about 4,000 more staff jobs will be cut, according to the Detroit Free Press .

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  • Prime Minister could be preparing for a general election in June
Prime Minister could be preparing for a general election in June

Under the current Brexit deal, the 310-mile Irish border would become the only land border between the European Union and the UK. His deputy John McDonnell had earlier accused the Prime Minister of trying to get pro-Brexit Labour rebels to "sell their votes" in a "dangerous" bid to win support for her deal.

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  • Trump hails Foxconn decision
Trump hails Foxconn decision

But Foxconn's plans were thrown into doubt Wednesday when a company official said that the Taiwanese company was backing away from making LCD panels in favor of becoming a "technology hub" employing mostly research, development and design jobs.

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  • January jobs report: Employers added 304,000 jobs, wages keep increasing
January jobs report: Employers added 304,000 jobs, wages keep increasing

The Labor Department also revised the December jobs numbers by about 90,000 jobs, taking the tally from 312,000 to a still-strong 222,000. Still, hiring has accelerated since last summer, a development that has surprised economists because hiring typically slows when unemployment is so low.

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  • Consumers Energy customers asked to lower thermostats after fire
Consumers Energy customers asked to lower thermostats after fire

Dozens of MI auto plants and large commercial buildings that were forced to close or cut operations Thursday due to a natural gas shortage can resume production at midnight. Consumers Energy said in a statement Thursday that it's "cautiously optimistic" its requests to curb natural gas use are "having a positive effect".

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  • Italy enters economic recession, PM expects recovery in second half
Italy enters economic recession, PM expects recovery in second half

Germany, Europe's biggest economy and the continent's economic driver, unexpectedly lost momentum in the third quarter of 2018, with a contraction of 0.2 per cent over the previous quarter. "Italy is going to have to face up to some real problems". Deputy Prime Minister Luigi Di Maio said the growth data "certified the failure of the entire polit...

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  • Brazilians pay homage to victims of dam collapse
Brazilians pay homage to victims of dam collapse

Brazilian judicial officials on Thursday ordered the freezing of another 800 million reals (about 220 million US dollars) of mining giant Vale's assets over the collapse of the company's tailings dam in the southeastern state of Minas Gerais .

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  • Government To Not Extend February 1 Deadline For E-Commerce Norms
Government To Not Extend February 1 Deadline For E-Commerce Norms

The wait period for Echo speakers is now running anywhere between a fortnight to over a month. "We are committed to doing everything we can to be compliant with the new rules", Flipkart India executive Rajneesh Kumar said in a statement, without explaining how the website was impacted.

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  • Unilever sees 2019 remaining 'challenging' with slower sales growth
Unilever sees 2019 remaining 'challenging' with slower sales growth

Unilever plc (LON: ULVR ) shares dropped as the consumer goods giant reported fourth quarter sales that missed expectations and said it anticipates challenging market conditions to persist this year. However, Jope admitted that market conditions will remain challenging in 2019. Jope has already embraced the 2020 targets Polman set for Unilever ...

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  • A third of United Kingdom companies could 'shift operations abroad' after Brexit
A third of United Kingdom companies could 'shift operations abroad' after Brexit

The EU proposed allowing visa-free travel for Britons in November. But diplomats said Britain's ambassador to the European Union had objected to the wording of the text; it placed the 33,000 people of Gibraltar in a different category from UK citizens - with the same travel rights - and it also spelled out Spain's claim to sovereignty over "The R...

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  • Trade secrets theft: Chinese engineer charged in theft of Apple vehicle secrets
Trade secrets theft: Chinese engineer charged in theft of Apple vehicle secrets

Just 11 days before the filing, on January 11, another Apple employee (who was not named) reported that they saw Chen taking "suspicious, wide-angled" photographs within the Apple workspace. The FBI has accused an Apple employee of attempting to steal trade secrets related to the company's self-driving vehicle project. Chen is the second Chines...

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  • Tesla To Start Model Y Crossover Production At Gigafactory In 2020
Tesla To Start Model Y Crossover Production At Gigafactory In 2020

This is up from the $675.4 million loss the company suffered in the last quarter of 2017. Speaking during the Tesla Q4 earnings call earnings call on Thursday morning (Australian time), Musk spoke about the highly anticipated all-electric SUV.

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  • With 2.32 bn users, Facebook earns record profits
With 2.32 bn users, Facebook earns record profits

For example, someone can use Facebook Marketplace to list their stuff and then communicate any interested buyer directly over WhatsApp . Instagram Stories have hit the daily user count of 500 million, which is up from the 400 million reported in June 2018.

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  • PG&E files for bankruptcy
PG&E files for bankruptcy

PG&E says it believes the bankruptcy process will facilitate the orderly, fair and expeditious resolution of the companies' liabilities that have arisen and will continue to arise in connection to the 2017 and 2018 Northern California wildfires.

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  • Amazon first-quarter sales forecast misses estimates, shares down
Amazon first-quarter sales forecast misses estimates, shares down

Shares in the online giant fell nearly 5% in after-hours trading despite it reporting record sales and profit for the Christmas holiday period. The advertising business posted $3.4 billion in revenue, almost double from a year earlier. Amazon posted earnings per share of $6.04 on net income of $3 billion, surpassing a projected $5.68 per share....

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