Amazon’s Restaurants delivery service is shutting down - The Verge

Amazon will wind down its Amazon Restaurants delivery service in the US at the end of this month, reports GeekWire. Combined with its closure in London last year, this means that Amazon’s Uber Eats rival will officially be no more. “As of June 24th, we will discontinue the Amazon Restaurants business in the US,” an Amazon spokesperson said in a statement to GeekWire.

Amazon Restaurants initially launched in Seattle back in 2015, before expanding to as many as 20 cities in the US and internationally to London. In its statement, Amazon said that the “small number of employees affected by this decision have already found new roles at Amazon, and others will be provided personalized support to find a new role within, or outside of, the company.” The company also confirmed it’s shuttering its workplace lunch delivery service, Daily Dish, on June 14th.

The news of the closure of Amazon Restaurants will be good news for Uber, which GeekWire notes listed Amazon’s service as a competitor to its own Uber Eats service during its IPO. Uber Eats has grown massively since it was launched in 2015, and the company is currently testing integrating it into its main ride-hailing app.

Amazon isn’t withdrawing from the food delivery market entirely. It still sells nonperishable food from its main online store, and it also delivers groceries from Whole Foods in certain locations in the US. It also runs its AmazonFresh service, which costs an extra $14.99 per month on top of Prime. Amazon has tested making grocery deliveries directly to the trunks of Fresh customers’ cars. But its takeout delivery ambitions now appear to be focused outside of the Amazon brand after it recently invested in Deliveroo amid reports that its attempt to buy the delivery company had fallen through.

Let's block ads! (Why?)

https://www.theverge.com/2019/6/11/18661240/amazon-restaurants-discontinued-usa-uber-eats-deliveroo-food-delivery

2019-06-11 14:44:28Z
CAIiEGaYL4GRS5ps0nmhhcJvk_0qFwgEKg4IACoGCAow3O8nMMqOBjCt2ugF

T-Mobile and Sprint merger reportedly hits opposition from 10 state attorneys general - CNET

T-Mobile and Sprint's merger may have hit another government snag. 

Josh Miller/CNET

T-Mobile and Sprint have reportedly hit another government roadblock in their quest to merge. 

According to Reuters, a group of at least 10 state attorneys general are preparing to file a lawsuit to stop the pending $26 billion deal. The report says that New York's state attorney general is leading the charge, with a press conference slated for this afternoon. 

T-Mobile and Sprint did not immediately respond to a CNET request for comment. 

Since being announced last year, T-Mobile's push to merge with Sprint has been met with strong government pushback over concerns it would harm competition. In February, nine Senate Democrats signed a letter addressed to Federal Communications Commission chairman Ajit Pai urging the agency to block the deal, writing that the merger is "likely to raise prices for consumers, harm workers, stifle competition, exacerbate the digital divide, and undermine innovation." 

Several presidential candidates signed off on the letter, including Sens. Amy Klobuchar of Minnesota, Kirsten Gillibrand of New York, Elizabeth Warren of Massachusetts, Bernie Sanders of Vermont, and Cory Booker of New Jersey.  

House Democrats, led by freshman congresswoman Rashida Tlaib of Michigan, followed suit shortly thereafter by sending a similar letter to Pai and Department of Justice head Makan Delrahim outlining their opposition to the deal, stressing how it would "disproportionately hurt lower-income people and communities of color." That letter was signed by 36 other representatives. 

In May Pai and the FCC gave a thumbs up to the deal with the chairman touting the deal's potential improvements for 5G network deployment and increasing coverage in rural America. The DOJ has yet to rule, though the staff of the department has recommended that the agency sue to stop the deal. 

T-Mobile and Sprint have a deadline of July 29 to complete their merger. 

Let's block ads! (Why?)

https://www.cnet.com/news/t-mobile-sprint-merger-reportedly-hits-opposition-from-10-state-attorneys-general/

2019-06-11 14:25:00Z
CAIiEBrFJb3yQ--iMi8JKdm9n0gqEwgEKgwIACoFCAow4GowoAgwkRo

Apple can make US-bound iPhones outside of China if necessary - Engadget

Sponsored Links

Zhang Peng/LightRocket via Getty Images

If the trade war between the US and China spirals out of control and leads to Chinese retaliation against American tech production, is Apple hosed? Not necessarily. Senior Foxconn exec Young Liu told investors that his manufacturing company has "enough capacity" to make US-bound iPhones outside of China if necessary. About a quarter of that capacity is elsewhere, Liu said, including growing Indian production. While Apple hasn't made any moves on that front, Foxconn can shift its lines elsewhere if things go south.

China reportedly met with tech companies in recent days, telling them not to comply with US orders that would dramatically affect their Chinese manufacturing plans. It allegedly threatened serious consequences, although it didn't outline what those were.

The safety net could be vital for Apple, not to mention for millions of people who could suddenly be cut off from future iPhones. However, this doesn't guarantee that Apple or other companies would be safe. Even if Apple can keep relying on Foxconn outside of China, some of its individual component suppliers are still located in the region -- there could be trouble if any of those partners are cut off. And even a quick transition could still choke production at a critical moment if it happens anywhere near the release of new iPhones. While Apple might avoid the worst, its situation could still be far from ideal.

Source: Bloomberg

In this article: apple, business, donald trump, foxconn, gear, hon hai, iphone, manufacturing, mobile, politics, production, smartphone, trade war, trump

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

Let's block ads! (Why?)

https://www.engadget.com/2019/06/11/apple-can-make-us-iphones-outside-of-china/

2019-06-11 13:22:47Z
52780312398903

Trump says Fed is keeping interest rates 'way too high' - MarketWatch

President Donald Trump on Tuesday complained on Twitter that the Federal Reserve was keeping interest rates "way too high," allowing "the Euro and other currencies" to be devalued versus the dollar. "The Fed interest rate way too high, added to ridiculous quantitative tightening. They don't have a clue," he wrote. Trump highlighted a Bloomberg story that tourists are flocking to Europe this summer.

Let's block ads! (Why?)

https://www.marketwatch.com/story/trump-says-fed-is-keeping-interest-rates-way-too-high-2019-06-11

2019-06-11 13:13:00Z
52780311750635

Trump says 'devalued' currencies put US at a disadvantage and the Fed doesn't have a 'clue' - CNBC

President Donald Trump, left, and Jerome Powell, the new chairman of the Federal Reserve on Thursday, Nov. 2, 2017.

Carlos Barria | Reuters

President Donald Trump said Tuesday the U.S. is at a disadvantage compared to other major currencies like the euro as other central banks keep interest rates low while the Federal Reserve's rates are higher by comparison.

"The Euro and other currencies are devalued against the dollar, putting the U.S. at a big disadvantage," Trump tweeted, adding the Fed doesn't have "a clue."

Trump also said in a separate tweet the U.S. has low inflation, calling it "a beautiful thing."

The dollar fell slightly against the euro following Trump's tweets, but remained little changed.

Trump has repeatedly gone after the Fed for what he considers to be tight monetary policy. The Fed hiked rates four times in 2018.

In December, after the central bank raised rates for the last time last year, Trump eviscerated the Fed. Trump called the Fed "the only problem our economy has" in a tweet, noting they "don't have a feel for the Market."

Trump also told CNBC's Joe Kernen on Monday that the Fed "made a big mistake: They raised interest rates far too fast. " Meanwhile, China keeps devaluing its currency, Trump added. "Don't forget: the head of the Fed in China is President Xi ... he can do whatever he wants."

But market expectations for lower rates have increased recently after the release of weakening economic data. The Labor Department's jobs report for May showed employment growth of just 75,000, well below estimates. Meanwhile, manufacturing activity growth slowed last month to its slowest pace since October 2016.

The data, coupled with comments from Fed Chair Jerome Powell, led traders to price in a 78% chance of lower rates by July, according to the CME Group's FedWatch tool. Powell said last week the Fed will "act as appropriate" to keep the current economic expansion going.

Let's block ads! (Why?)

https://www.cnbc.com/2019/06/11/trump-says-devalued-currencies-put-us-at-a-disadvantage-and-the-fed-doesnt-have-a-clue.html

2019-06-11 12:40:19Z
52780311750635

Saudi Aramco Offers To Buy Into Russia's Arctic LNG 2 Project - OilPrice.com

Saudi Arabia’s oil giant Aramco has offered to buy a stake in Russia’s liquefied natural gas project Arctic LNG 2 and hopes that project operator Novatek will accept the offer, Saudi Arabia’s Energy Minister and chairman at Aramco, Khalid al-Falih, told Russian news agency TASS in an interview published on Monday.

Saudi Aramco has long been rumored to be considering buying a stake in the Arctic LNG 2 project.  

Asked about recent reports that Aramco has backed out of a possible deal for the Russian LNG project, al-Falih told TASS:

“No, no, this is not true. Aramco extended the offer and we hope that offer will be accepted by Novatek.”   

In April, Novatek signed agreements with two Chinese companies, under which the Asian firms will become shareholders in the Arctic LNG project with 10 percent each. Earlier this year, France’s Total, a partner of Novatek in the producing Yamal LNG project, signed a deal to buy a direct 10-percent interest in Arctic LNG 2.

The final investment decision on the Arctic LNG 2 project is expected to be made in the second half of 2019, while the first liquefaction train is planned to start up in 2023.

At the end of last week, Russia and Saudi Arabia held talks about investments worth tens of billions of U.S. dollars in various energy projects.  

Related: A New Trend In The Middle East? Oman Taxes Energy Drinks As Oil Income Falls

Apart from Arctic LNG 2, Aramco is looking at other projects in Russia, including potential projects with oil giant Rosneft and with natural gas giant Gazprom, as well as in petrochemicals, al-Falih told TASS.

Aramco could also be interested in some joint projects or even equity investment in Russia’s petrochemical company Sibur, “but the interest has to be from both sides. So we will wait for Sibur and its shareholders to express their interest in future cooperation,” al-Falih told TASS.

Referring to the OPEC+ production cut deal after the talks he held with Russia’s top officials last week, the Saudi energy minister told TASS that “I am fairly confident that from the OPEC side almost everyone agrees that we need to extend the Declaration of Cooperation,” adding that “So, I think the remaining country to jump onboard now is Russia.”   

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

from Business - Latest - Google News http://bit.ly/2WqFObH
via IFTTT
June 11, 2019 at 04:00AM

Tilray shares up 11 per cent on deal to merge with biggest shareholder - The Globe and Mail