Good morning! Here's what you need to
know.
Wednesday unveiled the latest entry in its
flagship smartphone series, the iPhone 7.
Carney got a grilling. Bank of England
governor Mark Carney was accused Carney
of holding a "gun to the head" of chancellor
Philip Hammond during a hearing in front of
Parliament's Treasury Select Committee on
Wednesday.
A tech unicorn revealed it spent a lot on
advertising. Online international money
transfer service TransferWise has revealed
its marketing budget for the first time,
showing it spent £12.3 million on advertising
in the year to March 31, 2016.
Amazon is gunning for the food delivery market.
The company launched its restaurant food
delivery service in London as it looks to go
head-to-head with Uber and Deliveroo.
Venezuela made a mistake appointing a Spanish
economist. A leftist Spanish academic hailed
as the "Jesus Christ of economics" by
Venezuelan President Nicolas Maduro said
this week's announcement of his
appointment to help the government manage
shortages was a mistake.
That Brexit plan is looking further away.
Britain must take time to consider what its
post-Brexit relationship with the European
Union will look like and will not reveal its
hand ahead of time, Prime Minister Theresa
May said.
China is telling its industrial plants to stop
operating. China's top steel making city of
Tangshan has told industrial plants to cut
production for two weeks from Saturday, its
third such suspension since July, as Beijing
battles overcapacity and pollution.
Lawyers are going after VW's suppliers. Auto
supplier Robert Bosch concealed the use of
Volkswagen's secret "defeat device" software
that it helped design and demanded in 2008
that the German automaker provide legal
protection in its use, lawyers alleged in a
court filing.
The Danish government is going after tax cheats.
It said it would pay an anonymous source
for leaked data from the Panama Papers on
hundreds of Danish taxpayers.
Goldman Sachs announced a big shake-up. Tom
Cornacchia, the global cohead of fixed
income, currency and commodity - FICC -
sales at G oldman Sachs, is leaving.
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