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In addition, Altria will receive purchase share warrants, valued at CAD $1.4 billion, which if exercised would give the company an additional 10% in Cronos. In June, British tobacco giant Imperial Brands was among investors taking a stake in Oxford Cannabinoid Technologies, a United Kingdom-based medical cannabis startup.
  • Microsoft tops Apple as world's most valuable company

    Microsoft tops Apple as world's most valuable company

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    Microsoft's dominance in the PC software market gave it a market value that was larger than Apple's for years. Apple has been under pressure since a November 1 earnings announcement when it reported strong jumps in quarterly profits but notched weaker-than-anticipated iPhone sales and a disappointing outlook for the key holiday period.
  • US Fed's chief in apparent dovish shift, says rates near neutral

    US Fed's chief in apparent dovish shift, says rates near neutral

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    His predecessors took care not to directly attack the central bank's rate policy out of concern that such criticism could backfire. In the question-and-answer period following his speech, the Fed chairman agreed with the consensus view that monetary policy's goals should remain focused on low unemployment and stable inflation rather than targeting financial markets such as stocks.
  • BMW Fact-Checks Trump On ‘Major New Plant,’ Which Hasn't Been Finalized

    BMW Fact-Checks Trump On ‘Major New Plant,’ Which Hasn't Been Finalized

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    But the president seemingly hasn't done the math on how cutting subsidies would actually affect GM. GM shares closed down 2.6 percent at $36.69 in NY trading on Tuesday. But GM did say last month it expects to spend $1 billion more for commodities like steel and aluminum next year. For Mr Trump in particular, the cuts are a blow, as he has made rebuilding the United States vehicle industry one of his administration's priorities.
  • 'I don't believe it' - Trump dismisses government climate report

    'I don't believe it' - Trump dismisses government climate report

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    This is something that the Trump administration would no doubt want to bury-the Republicans are consistently in favor of affording protection to corporations over human lives, and Trump himself believes climate change is a hoax, "created by and for the Chinese in order to make US manufacturing non-competitive".
  • S&P 500 gains with energy, tech but ends near day's low

    S&P 500 gains with energy, tech but ends near day's low

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    Foot Locker soared 14.9 percent after turning in solid quarterly results. Target stock fell 9.5 percent after reporting weaker-than-expected earnings for the third quarter. USA crude prices have dropped six weeks in a row and are trading around their lowest level in about nine months. Apple fell 4 percent and Amazon gave back 5.1 percent.
  • Cryptocurrencies hit hard as Ethereum falls to 16-month low

    Cryptocurrencies hit hard as Ethereum falls to 16-month low

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    Last week, a new version of Bitcoin Cash was launched , which was itself a "fork" from the original Bitcoin blockchain. When one cryptocurrency falls, others tend to fall as well. Ethereum has also lost around 15 percent of its value over the last 24 hours, reaching its lowest price since May of past year. Mike McGlone, an analyst at Bloomberg Intelligence , echoed King's words by saying that the recent market crash "was sparked by the pump for the Bitcoin Cash hard fork ".
  • Carlos Ghosn arrested; Nissan likely to sack him

    Carlos Ghosn arrested; Nissan likely to sack him

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    Nissan Motor Co.'s high-flying chairman Carlos Ghosn was arrested overnight and will be dismissed after he allegedly under-reported his income and engaged in other misconduct, the company said. He will also try to have Kelly removed from the board. Saikawa said he could not give specifics on the personal use of company money, but said that the wrongdoing was serious and unacceptable and had gone on for years.
  • Lion Air crash: Victim's fiancée takes wedding photos alone

    Lion Air crash: Victim's fiancée takes wedding photos alone

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    Syari and Pratama had been due to Wednesday on November 11 but he was killed when Lion Air flight JT 610 crashed on October 28 shortly after take-off from Jakarta, reports Standard UK . The Maneuvering Characteristics Augmentation System in limited instances will lower the nose of the 737 Max if the airplane is close to an aerodynamic stall even if pilots are manually operating controls.
  • Citi says oil's record plunge is a USA phenomenon

    Citi says oil's record plunge is a USA phenomenon

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    Demand for its crude will be about 31.5 million bpd, which is 500,000 bpd less than its forecast two months ago and 1.4 million bpd below current output, Opec said this week. Anxious by a drop in oil prices due to record supply from Saudi Arabia , Russia and the United States , the Organization of the Petroleum Exporting Countries is talking of a U-turn just months after increasing production.
  • Cabinet backs draft Brexit withdrawal agreement

    Cabinet backs draft Brexit withdrawal agreement

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    The deal , agreed to by the prime minister and her Cabinet on Wednesday evening, sets out how Britain will withdraw from its relationship with the European Union. Barnier declared there has been "decisive progress" toward a deal - the phrase that allows European Union leaders to call a special summit to approve the deal.
  • Amazon East: Incentives from, benefits for new Amazon HQs

    Amazon East: Incentives from, benefits for new Amazon HQs

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    With New Yorkers and D.C. -area residents incensed over the deals their elected officials have struck with Bezos, locals in the other cities which came close to being chosen for the company's second headquarters were breathing a sigh of relief with the news that their homes would not face the affordable housing crisis, rising income inequality, and traffic congestion that's befallen Seattle since Amazon opened there in 1994.
  • Ocasio-Cortez Slams Amazon's Plan to Locate HQ2 in Queens

    Ocasio-Cortez Slams Amazon's Plan to Locate HQ2 in Queens

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    In a tweet thread, U.S. Representative-elect Alexandria Ocasio-Cortez, whose district includes Long Island City , criticized NY state's decision to provide Amazon with big tax breaks and questioned whether current residents would end up being displaced as a result of rising rent.
  • Trump blasts Saudi Arabia for plan to cut oil production

    Trump blasts Saudi Arabia for plan to cut oil production

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    Benchmark Brent crude , which had been trading above US$80 a barrel recently, now hovers just over US$70 after the U.S. sanction waivers on Iran. "Sky-high production in the USA, coupled with incremental barrels coming from Saudi Arabia and Russian Federation is starting to impact oil market balances".
  • China Trade War 'Stupidest Thing In The World', Says Alibaba's Jack Ma

    China Trade War 'Stupidest Thing In The World', Says Alibaba's Jack Ma

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    Latin America's exports to China could see a 28-percent growth in 2018, more than exports to any other destination, which could consolidate China's ranking as the region's No. According to the ECLAC, China-Latin America trade has grown in recent years, reaching 266 billion USA dollars in 2017. President Trump blames the trade deficit for a host of U.S.
  • White House Asks Supreme Court To Rule On DACA Sooner, Not Later

    White House Asks Supreme Court To Rule On DACA Sooner, Not Later

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    The administration on Monday asked the Supreme Court to take up three cases about Trump's decision to end the Deferred Action for Childhood Arrivals program, also known as DACA. Instead, the Supreme Court declined to do so. The FCC itself also was in favor of voiding the decision that upheld its 2015-era rules, according to Jessica Rosenworcel, a Democrat on the commission.