Scrapping Mexico The Plant Is a Business Decision: Bill Ford

Ford Chairman Bill Ford discusses the Detroit auto industry, Donald Trump’s trade policies, the president-elect’s nomination of Elaine Chao for Transportation secretary and the company’s decision to scrap plans for a new plant in Mexico. He speaks with David Westin on “Bloomberg Markets” from the North American International Auto Show in Detroit, Michigan

Harrods landmark London store came under protest over waiters’ tips

Saturday was a busy old day at Harrods – but for all the wrong reasons as far as the luxury department store is concerned. A protest outside the shop's entrance brought together disgruntled restaurant staff, complaining that up to 75 percent of the tips they receive in one of London's best-known landmarks are being kept by its Qatari owner.

Interior design and technology of the Toyota Concept-i

Toyota CALTY designer lead Ian Cartabiano walks through the interior design and technology of the Concept-i concept at CES 2017. With scissor-doors, autonomous driving, and an innovative artificial intelligence co-driver, it's a preview of the sort of technology that Toyota believes could be in the emotionally-engaged cars of tomorrow.

Maqui Berry the new super food coming to juice cleanses near you

There’s a new super food coming to juice cleanses near you, and it’s called the Maqui Berry. Like its predecessors, the Maqui Berry has ridiculous amounts of antioxidants and lots of the accompanying claims about its body-healing properties. Ashlee Vance, the host of Hello World, took a recent trip to the wine country outside of Santiago to see how the Maqui Berry is being processed by SouthAm Freeze Dry.

Toyota could be imposed with heavy border tax if it builds factory in Mexico: President-elect Trump

(qlmbusinessnews.com via uk.reuters.com – – Fri, 6 Jan, 2017) London, UK – –

Shares of Toyota Motor Corp (7203.T) fell more than 3 percent on Friday after U.S. President-elect Donald Trump threatened to impose heavy taxes on the automaker if it builds its Corolla cars for the U.S. market at a plant in Mexico.

Toyota dropped as much as 3.1 percent to 6,830 yen ($59.06) in early trade before paring losses, after Trump's tweet on Thursday – “Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.”

The tweet was Trump's first broadside against a foreign automaker. He has slammed automakers in the United States for building cars in lower-cost factories south of the border, which he said costs American jobs.

This week Ford Motor Co (F.N) scrapped plans to build a $1.6 billion assembly plant in Mexico after Trump criticized the investment.

Trump's tweet confused Toyota's existing Baja plant with the planned $1 billion plant in Guanajuato, where construction got under way in November.

Baja produces around 100,000 pickup trucks and truck beds annually, including the Tacoma pick-up truck. In September, Toyota said it would increase output of pick-up trucks by more than 60,000 units annually.

The Guanajuato plant will build Corollas and have an annual capacity of 200,000 when it comes online in 2019, shifting production of the small car from Canada.

Other Japanese automakers too have plants in Mexico. Nissan Motor Co (7201.T) has two facilities, producing 830,000 units in the year to March.

Honda Motor Co (7267.T) operates two assembly and engine plants in Mexico with a total annual capacity of 263,000 vehicles. It also operates a transmission plant with an annual capacity of 350,000 units.

Other Japanese carmakers also fell in early trade, with a stronger yen dragging on prices too. Honda fell more than 2 percent before paring losses, while Nissan also shed 2 percent, underperforming the broad Topix .TOPX index.

 

By Thomas Wilson

Amazon and Forever 21 considering an acquisition offer of American Apparel LLC

Amazon and Forever 21 are two of the companies considering an acquisition of American Apparel LLC. The Los Angeles-based “Made in the U.S.A.” company is set for a bankruptcy auction that “will determine the future” of the company's manufacturing plant in California. An acquisition offer made by a company would have to top Canadian apparel maker Gildan Activewear Inc, which has already placed a $66 million bid. Gildan would keep some production in California but would probably move some manufacturing to low-cost countries.

London to welcome China’s first freight train

China’s multi-billion dollar One Belt, One Road plan is a strategy launched in 2013 and focus on infrastructure and trade network connecting Asia with Africa and Europe along old Silk Route trading routes in an effort to boost trade and economic growth.

With that in mind China launched its first freight train to London, which will travel from Yiwu West Railway Station in Zhejiang Province, Eastern China to Barking, London, taking 18 days to travel over 12,000 kilometres.
The route runs through Kazakhstan, Russia, Belarus, Poland, Germany, Belgium and France, before arriving in London. The UK is the eighth country to be added to the China-Europe service, and London is the 15th city.

China estimates that it will gain heavily from opening the ancient trade routes which will, in turn, boost regional cooperation and better relations between countries that lie along the Silk Route.

Bitcoin started the new year above $1,000 for the first time in three years

It has been a bumper year for bitcoin.

Having risen in value in 2016 by 125 percent the digital currency started the new year by jumping above $1,000 for the first time in three years.

As most bitcoin trading is done in China, analysts linked that to the fall in the value that country's currency – the yuan. Last year the yuan slipped seven percent, it's weakest showing in over 20 years.

Britain to New York flights set to launch costing less than £60

(qlmbusinessnews.com via uk.businessinsider.com via standard.co.uk — Thu, 29 Dec, 2016) London, Uk —

Flights between Britain and New York costing less than £60 are set to be introduced in the new year.

Budget airline Norwegian plans to slash the price of flights from Edinburgh to smaller airports in the Big Apple to as little as £56, it was announced last week.

Tickets will be sold on flights to airports other than JFK using six Boeing 737MAX aircraft which burn less fuel than other long-haul planes, the Times reported.

Earlier this month the airline revealed that it would cut US-bound services leaving Gatwick from 34 to 22 flights a week from next year.

British Airways cut flights to the US from the UK earlier this year.

Flights on the Boeing 787 Dreamliner aircraft will start at £135.

Fiona Simpson

Billionaire Tilman Fertitta on identifying the next billion-dollar idea

(qlmbusinessnews.com via uk.finance.yahoo.com — Wed, 28 Dec, 2016) London, Uk —

Imagine coming up with the next Uber, Airbnb, Instagram or Snapchat. How do you know when you have thought of the next billion-dollar idea?

Hospitality mogul and star of CNBC’s “Billion Dollar Buyer” Tilman Fertitta, who meets with entrepreneurs nationwide looking for the most innovative products to add to his portfolio, told Yahoo Finance’s Seana Smith in the video above the key characteristics he looks for when identifying the next big business idea.

“Look at edgy products,” said Landry. “There are so many young millennial entrepreneurs out there right now coming up with different products…. You’re looking for somebody that can scale up, that has a unique product that people want. It can be anything. Being in casinos, restaurants, hotels, aquariums and amusement parks, we buy everything, so we’re just looking for that one unique product.”

Fertitta has a proven track record of success over the last four decades. He’s the sole-owner of dining, entertainment, gaming and hospitality group Landry’s, which is comprised of more than 500 properties including the Rainforest Café, Bubba Gump Shrimp Co., Chart House and McCormick & Schmick’s. Fertitta’s a self-made billionaire with an estimated net worth of $2.8 billion.

Don’t be fooled though, it takes much more than just a “unique” product to turn a billion-dollar idea into a prosperous business. Fertitta says key traits that separate successful entrepreneurs from those that fail include passion, perseverance and effective management.

“It’s really about knowing all facets of your business,” he said. “Know your numbers and never give up. And when you get kicked down, keep picking yourself up.”

Seana Smith

Boss Rewards 800 Staff with Caribbean Cruise

Employees at an Iowa cabinet company are about to get a sunny reprieve from the winter cold, all thanks to the boss. All of the more than 800 employees of Bertch Cabinets in Waterloo, Iowa will get a free trip to the Caribbean next month. company president Gary Bertch said “We leave January 8, We've got four charter aircraft that will be flying directly to Miami Sunday and staying at a nice five-star hotel. Then on Monday, we'll bus over from the hotel to the port and load up on the ship.” Bertch told his employees the trip was a reward for them after the company meet its goals for the year.