Business

When Russian Foreign Minister, Sergey Lavrov last time visited the White House, President Trump had just discharged James Comey, his then FBI director. At the time, Trump boasted it would dispel pressure related to an investigation into whether his campaign had binding to Moscow. But instead, it had the converse effect, winding the political flames over his Russia policy. Two-and-a-half years later, Lavrov is prepared to return on Tuesday, and Trump’s Russia policy is still very much in the limelight. There were no quick details on what Trump plans to prattle with Lavrov, who is in Washington to fall on the secretary of State Mike Pompeo. A senior official of the United States has stated that the conversations would be about the state of the bilateral relationship.

The critics of Trump have said he has been too friendly with Moscow, provided how Russia has worked at cross-purposes with the United States. This close relation occurred by interfering with the presidential election in 2016, engaging part of Ukraine, and supporting Syrian President Bashar al-Assad and Venezuelan President Nicolas Maduro. Trump has stated then he desires to work with Russia on restraining the nuclear ambitions of North Korea as well as an ample atomic non-proliferation deal.

Lavrov’s visit bands together with Paris talks between Ukrainian President Volodymyr Zelensky and Russian President Vladimir Putin meant to receive the simmering war in eastern Ukraine. Still, it also comes as Trump deals with a House impeachment inquiry into a hold he settled on military aid for Ukraine. Whether he made liberating the support and hosting Zelensky for an Oval Office meeting with Zelensky reliant on Ukraine declaring an investigation into his political opponents. The Lavrov meeting also bands together with the deliverance of a report by the Justice Department’s inspector general report on the Russia probe of the FBI. The statement condemned the bureau over its surveillance of a previous adviser to the Trump campaign. Trump and his followers said it was the testimony of a plot against him.

Uber Technologies, Inc., commonly known as Uber expanded its business from cab-hailing services to food delivery services and launched UberEats food delivery services in India in 2017. When it was announced, the new product was seen as competitors like Swiggy and Zomato. A common perception prevailed during the launch was that Uber Eats could be the third effective option for India to expand its food ordering consumer actively. Two years later, people are still far from such belief.

Uber Eats has been in rough times for the past few quarters, with key executives also leaving. Uber’s situation has been unsatisfactory. The initial public offering (IPO) exposed the major loss the company was suffering, its founders were ready to build something new, and didn’t waste much time before selling the stock or leaving the company. Of all this, Uber is reportedly preparing to sell UberEats’ Indian operations to Zomato. As per people familiar with the matter said the US-based giant is considering cutting global spending and is, therefore, taking action. According to the report, the transaction currently values UberEats’ business in India at approximately US$ 400 million. As part of the deal, Uber may invest roughly US$ 150 to 200 million in Zomato and acquire a substantial stake in the company.

The report further added that the two companies are still negotiating terms, but the transaction may be completed by the end of this year. The development was completed when Zomato entered the final stage, and the company was about to complete a new round of financing of about US$ 600 million, which could bring the company’s valuation to US$ 3 billion. If the deal completes as planned, it would be comforting for Uber and mark the end of a year-long effort to transfer Uber’s Indian business to Zomato or Swiggy after more than a year of negotiations. Recently, in an earnings conference call, Uber CEO Mr. Khosrowshahi has acknowledged that UberEats faces fierce competition in India. Still, he suggested that UberEats continue to do business in the food delivery sector. The company expects negative revenue for its UberEats business in India from August to December this year to be US$ 107.5 million.

The world is extensively suffering from carbon emission. There are various causes of carbon emission, such as natural sources, which include decomposition, ocean release, and respiration. Human origins are deforestation, cement production, and burning of fuels. When everyone talks about the burning of fuels, then aviation sectors contribute more than 2.5% of total emissions on the earth. The aviation industry, especially the Air travel source, needed to think to cut loose on carbon emission. The International Civil Aviation Organization (ICAO) has inspired to use lighter material of aircraft and efficient biofuel engines

Canadas Harbour Air Seaplanes and Australis MagniX electric motors came together and cleared the path of electrified air. On the 10^th of December 2019, a commercial flight, which is entirely electrical, has taken its first test take off for 15 minutes, and Mr. Greg McDougall piloted the plane who is a founder and chief executive of Harbour Air. The electric sea aircraft have taken flight in Fraser River near Vancouver international airport Canada. The DHC-2 de Havilland Beaver plane 750 horsepower electric motor and MagniX build that with the lithium batteries and 100 miles of flight range. The electric motor requires less maintenance. The company saves maintenance costs. For big commercial aircraft to run on electric power is so for with current battery technology, but by 2022 Harbour Air is going to an electric fleet of floatplanes. For remote locations short flights, this electric plane reduces the flight company’s fuel maintenance and bills for repairs in the future. This technology can be adopted by some private jets, and the goal of Harbour Air is to electrify the entire feet.

By using electric engines, the greenhouse gas emissions can reduce. With the concern of the environment, people cut air travel found in the survey. To travel long distances is a big challenge for electric aircraft. To buy all new electric aircraft, some companies preferred to convert existing planes. The flight range is now not much more but enough to start.

Huawei announced that it had filed a lawsuit challenging the FCC decision that avoids the use of federal subsidies for Americans to purchase Huawei equipment. Huawei is the leading smartphone brand and largest telecommunication maker. The lawsuit was filed on Thursday in New Orleans. Song Liuping, Chief Legal Officer of Huawei, said that as this is a Chinese company, FCC had targeted them. Song Liuping claims that the passed order is against the law and violates the constitutional laws of the US. It provides no evidence of threat related to national security that the company poses. This lawsuit is a strategy of Huawei to fight against the campaigns which are run against Chinese companies through public opinion and courts.

Earlier in March, the company sued the government of the US over a law that barred federal agencies from buying its products. Executives of Huawei published in the newspaper that it is a private company and not a tool of the Chinese government. Ren Zhengfei, CEO of Huawei, said that the decision taken by FCC is against the bedrock principle as the US government should make rules that are best interest of Americans. The government says that the company has crossed national security and poses a threat. Also, it has barred companies of the US from the supply of software and key tech to the Chinese firm. The US government said that installing the equipment of Huawei’s would allow the Chinese to keep an eye on US communications that are sensitive. Huawei claims that none of their products pose any threat or question national security.

Protests have not stopped President Donald Trump from making decisions against Huawei. He said that using a 5G network along with Huawei mobile will pose a security risk, and he also has raised this issue with several other countries. Boris Johnson, prime minister of the UK, has also agreed and said that Chinese companies could pose a national threat, and using their devices can pose a threat to the Five Eyes Intelligence Alliance.

Donald Trump said on Twitter yesterday that he visited the Apple Mac Pro production site. His comments caused a large number of questions. Between them: Trump said he requested CEO Tim Cook to let Apple (AAPL) participate in the “building” 5G network in America. They have everything – money, equipment, idea and [CEO Tim] Cook!” Trump sent a tweet. But Apple is a mobile phone manufacturer, not a mobile phone operator. Entering 5G construction will denote a major shift in Apple’s business strategy. Ian Campbell, chief executive of investigation firm Nucleus Research, said: “I think they may also be involved in the coffee house business. This will be an important step for Apple, which is extremely unlikely. A consumer-oriented company.

5G is the next peer group of wireless technology that promises to change the way individuals live and work. High-speed Internet speeds (expected 5G will be 100 times quicker than 4G) will drive the development of technologies such as autonomous vehicles and smart metropolises. Of course, Apple and several other technology companies are hoping to develop new products that take benefit of 5G capabilities. But at all company that builds 5G must-own and update its network infrastructure – think about radio towers and underground cables – something Apple doesn’t have. Major companies in the US wireless market have begun to compete fiercely to style 5G widely available in as many cities as likely. Even with existing equipment, competitors in the broadcast arena are pouring money to launch 5G. CNN’s paternal company, AT&T, spends $20 billion a year on 5G; Verizon will invest $17 billion.

If you spend that much cash, Apple can build 17 new Austin estates. Or, more likely, it may invest further in the amenities business, which the company expects to develop a more critical income driver in the next few years. According to reports, Apple spent $6 billion on the content of its new-fangled streaming service, Apple TV+. Other technology companies like Cisco are also developing certain components in 5G network devices. Campbell believed, but Apple is doubtful to move in this direction. Campbell supposed: “There are many powerful players in this market.” “Apple has no production services or support capabilities. They will stick to wristwatches and stylish phones.”

A planned five-day strike by over 4,000 health professionals at Kaiser Permanente psychologists has been postponed. The strike was set to begin on Monday. It has been deferred in acknowledgment of the death of Kaiser Permanente CEO Bernard Tyson. Union officials voted to postpone the strike after the news about his death surfaced. Leaders of the National Union of Healthcare Workers have yet to announce the new date of the strike. “We offer our condolences to Bernard Tyson’s family, colleagues, and friends,” reads a statement issued by NUHW president Sal Rosselli. “Health professionals dedicate their lives to helping people in their tough times. We very well understood that going ahead with the planned strike would not be right during this period of mourning and reflection,” he added.

As per the planned strike, mental health services at more than 100 clinics and medical facilities managed by Kaiser Permanente would have shut from November 11 to November 15. “I know Bernard since early 1980s when he was a manager at Kaiser Permanente’s Oakland Medical Centre. Despite our differences, I had tremendous respect for Bernard Tyson for his willingness to always make Kaiser the best medical services provider in California,” Rosselli said. Annie Russell, CEO for Southern California Permanente Group expressed displeasure over the reports of proposed strike. The CEO said that it is really disappointing that the leadership of the National Union of Healthcare Workers has once again called for a strike. Russell said the strike does not make any sense as health professionals are already being given generous wages.

60 years old Tyson died in his sleep on Sunday. He had been associated with the 11.8 million-member health plan for over 30 years and was CEO for the past six years. During his tenure as the CEO of the consortium, Tyson grew revenue from USD 53 billion to more than USD 80 billion. According to Modern Healthcare, he earned about USD 10 million in compensation in 2016. Born in the San Francisco Bay Area, Tyson got featured in TIME’s Health Care 50 for his efforts to boost community health in areas like West Baltimore.

McDonald’s has fired its CEO Steve Easterbook for having an inappropriate relationship with an employee of the company. The company said that Steve has violated the policy by having a romantic relationship with a subordinate. Fast-food giant does not forbid the mangers for having a love affair with direct or indirect subordinates. In an email, the former CEO has also acknowledged his relationship with an employee. The board of directors has voted in favor of Steve’s ouster after a thorough review meeting. The separation package of the ex CEO has not been decided yet. The officials will decide on it after the federal filing. Steve Easterbook will also be dropped from the company’s board. He was appointed as CEO of McDonald’s in 2015.

The company has denied providing any details about the employee with whom Steve was having an affair. Chris Kempczinski has been appointed as the new CEO and president of the company. He has also served as President McDonald’s USA. Steve has said that he respects the decision of the board and it is time for him to move on. The decision of the board is said to be a sign of progress on workplace values, which has been highlighted in the me-too movement. Unlike other companies, McDonald’s is trying to follow strict policies against workplace harassment.

In order to revamp the stores and expanding delivery services, the company has faced a 2 percent drop in its net income in the third quarter. The share prices of the company dropped to 7.5 percent for the quarter. However, it is still high as 9.2 percent for the year. Declining restaurant traffic has also affected the fast-food chain. Along with poor financial performance, McDonald’s has been facing dozens of workplace sexual harassment charges. A labor group called Fight for $15 has claimed that the company’s response to the harassment complaints is not adequate. They also urged that the fast-food giant needs to be transparent about the ouster of CEO Steve Easterbook and any other executive departure related to the issue.

As a result of the restructuring plan, HP decided to cut jobs in the upcoming months. On Thursday HP announced its restructuring plan which is going to reduce the operating cost of the company by the end of 2020. This restructuring plan is forcing the company to cut in between 7000-9000 jobs in upcoming quarters. HP announced that it’s expecting a fiscal budget for next year, which is the reason they have decided to cut so many posts all over the world. Job cutting is not only limited to North America, but it’s going to affect every office of the company.

The report shows that this new plan is going to help company to save up to $1 billion by the end of 2022. The company as on October 31, 2018, had about 55000 employees, now they are planning to cut the workforce by 13-16 per cent approximately. HP is giving its employees the option of voluntary retirement, and for others, it’s going to be a layoff.

However, this is not the first time when HP announced plans like that because back in 2018, the company said it would layoff in between 4000-5000 people in 2019. As of now no official reports published by the company. However, such type of massive layoffs means that the company is going to cut some of its services/products. CFO of HP said that whatever the saving would arise from this layoff is going to be used at back-office services. A company usually takes this decision to make investors happy since profits get increased whenever operation cost goes down. CEO Enrique Lores said that HP is overall positive about this decision since it’s going to create some significant changes for the company and its investors. However, this news is going to bring some sad news for HP’s employees.

On Wednesday 04 Sep, the Federal Reserve (Fed) reported that the US economy has grown at a moderate growth rate in recent weeks. The manufacturing has been hit by a global economic slowdown, and consumer purchases have given mixed reactions on household spending. The enduring US-China trade war has emerged to a large extent in the latest Beige Book of US central bank. The compilation of anecdotes companies across the country and conflicts reported in several areas are putting pressure on the business. The report was released before the Federal Reserve’s policy meeting from September 17-18, when it was widely expected that the central bank would cut interest rates in response to the economic slowdown, indicating that US companies will not soon expect a recession.

According to the report of the Fed, most companies remained optimistic regarding the near-term outlook even though the concerns about trade and tariff policy uncertainty persisted. The central bank said that the employment growth in recent weeks seems to be moderate, which is comparable to the previous reporting period. The Fed also said that the manufacturing activity was weaker to some extent than the previous period. The report detailed about the company’s concerns regarding tariffs, including uncertainty about the direction of trade policy which may inhibit investment prospects. In the Federal Reserve’s Boston district, including most of New England, persistent pricing was an issue for manufacturers as the tariffs remained a secondary.

The report said that the US trade conflict also exacerbated the problems faced by farmers. According to the report, the agricultural situation continued to be weak due to adverse weather conditions, trade-related uncertainties, and low commodity prices. The business contacts of the central bank reported continuous growth in consumer spending, which is the main driver for growth of the US economy. Despite the global economic slowdown, there has been substantial growth in recent months, but some parts of the country seemed to be less robust. The Beige Book, compiled by the Federal Reserve Bank of Atlanta, brings together reports from all 12 regional banks of the Federal Reserve as of August 23.