Economy

USA airlines may ban passengers who refuse to wear face masks

June 17, 2020

Despite the fact that the numbers of cases, hospitalizations, and deaths from the coronavirus are continuing to set new daily records in the USA, though, airlines have prepared themselves to encounter fliers who for whatever reason refuse to wear a face mask .

Lexus takes the covers off new 2021 IS sedan with sportier looks

June 17, 2020

The model also has restyled door, a sportier greenhouse and lower character lines which flow into sleeker rear fenders. The new IS features an exterior redesign inspired by the look of the ES. The V6 is matched to an eight-speed automatic transmission in rear-wheel drive. The all-wheel drive IS 350 makes do with a six-speed automatic and it's a tad slower as the dash to 60 miles per hour (96 km/h) takes 5.7 seconds.

Tesla Model S manages 647 km range

June 17, 2020

The car's regenerative braking system has also been tweaked to incorporate a new "Hold" feature that blends the motor's regenerative braking with physical brakes to bring it to a stop when easing off the accelerator pedal. The latest aero wheels are better at reducing aerodynamic drag than the units on the previous Long Range Model S, also adding two percent to overall range.

Ford to introduce new Bronco on O.J. Simpson's birthday

June 17, 2020

In a move that was deemed "purely coincidental", Ford Motor Company recently revealed that the new Bronco will be unveiled to the public on July 9. Simpson is later arrested after a widely televised freeway chase in his white Ford Bronco .

UAE Says OPEC+ Deal Will Soon Restore Oil Prices to ‘Normal’

June 17, 2020

Elsewhere US shale producers are also cutting back on drilling amid the collapse in demand for oil. Oil-production limits adopted by a group of major crude suppliers will soon bring prices back to "normal", according to the oil minister from the United Arab Emirates.

US Retail Sales surges by 17.7% in May vs. 8% expected

June 17, 2020

Some of the largest spikes came in industries hit hard by the lockdowns such as clothing and accessories stores, whose sales surged 188 percent last month after plunging 75.2 percent in April, according to the feds. Excluding automobiles, gasoline, building materials and food services, retail sales surged 11 percent in May after tumbling 12.4 percent in April.

Apple Faces Two EU Probes Into App Store Rules, Apple Pay

June 16, 2020

The Commission said it had completed a "preliminary investigation" and found "concerns" that discouraged competition against Apple's own services. "It is important that Apple's measures do not deny consumers the benefits of new payment technologies, including better choice, quality, innovation and competitive prices", Vestager said in a statement .

Twitter will make Juneteenth a company party — George Floyd

June 16, 2020

Jack Dorsey also said Twitter was working to identify which days it made the most sense to recognize the end of slavery in other countries. Mr Dorsey designed the announcement in a sequence of tweets, indicating it would be a "working day for celebration, schooling, and relationship".

Workers on United Kingdom payrolls tumble and unemployment claims soar during lockdown

June 16, 2020

But benefit claims - up by 1.5m in two months - are a more representative figure of the true state of unemployment, even if the ONS cautions that expanded eligibility means it may overstate the true picture of joblessness, as some can claim while still working.

EasyJet takes off this Monday with a fist flight to Glasgow

June 16, 2020

The first flight from the United Kingdom took off from London Gatwick at 07:00 this morning for Glasgow. During the lockdown period the fleet of aircraft has been maintained in a flight ready condition to enable the airline to resume flights at the right time.

EPRA lowers diesel, kerosene prices but hikes petrol by Sh5.77

June 16, 2020

The increase in prices varies across metros, depending on the tax structure on products in various states. The move, which could see Kenyans suffer as oil marketers make a pretty penny starting midnight, is on the back of a recent request by industry players to the Petroleum Ministry to allow them to retain higher pump prices to get rid of old stock.

European Union opens competition investigation into Apple's App Store

June 16, 2020

Commission EVP Margrethe Vestager, in charge of competition policy, says: "Mobile payment solutions are rapidly gaining acceptance among users of mobile devices, facilitating payments both online and in physical stores". "We're committed to doing even more to support and nurture the global App Store community - from one-developer shops in almost every country to businesses that employ thousands of workers - as it continues to foster innovation, create jobs, and propel economic growth for the ...

Asian stocks and United States futures rally after Fed moves calm markets

June 16, 2020

Germany's DAX was up 2.4% at 12,268 after the ZEW index of investors' economic confidence rose for a third consecutive month, with financial professionals' assessment of the current economic situation in Germany improving for the first time since January.

New Nissan X-Trail: fourth-gen model fully revealed (as the Rogue)…

June 16, 2020

As mentioned, a 135kW/245Nm 2.5-litre petrol engine will be available (up 9kW/19Nm), driving either the front or all four wheels via a continuously variable transmission (CVT). Along with the all-new second-generation Juke that arrives in showrooms this week, the X-Trail is one of multiple Nissan models to be updated or overhauled in the next 12 to 18 months.

Apple commits US$100M to racial equity and justice program

June 16, 2020

The video giant has also been criticized for hosting racist videos. The company said Thursday it would continue its efforts to scrub such content from its platform. "The initiative will challenge the systemic barriers to opportunity and dignity that exists for communities of colour, and particularly for the black community, with special focus on issues of education, economic equality and criminal justice reform", he said.

China's new virus outbreak needs further testing after 'hypothesis' on cause

June 16, 2020

Overnight, some parts of Beijing including the city's old-style hutong neighbourhoods were walled up, with entry and exit restricted to a few round-the-clock security checkpoints. Of the domestically transmitted cases, 27 were reported in Beijing , four in Hebei Province, and one in Sichuan Province, the National Health Commission said in its daily report.

United States stocks open lower on renewed virus fears

June 16, 2020

Futures for the NASDAQ Composite Index lost 133.75 points, or 1.4%, to 9,498.50. In Europe, the pan-continental Stoxx Europe 600 dropped 1.1%. Just on Friday, U.S. Volatility has returned to the markets. But surging new cases of COVID-19 in China, where the pandemic originated, prompted the reintroduction of containment measures, and record hospitalizations in several USA states dampened investor risk appetite.

Liberals looking to extend COVID-19 benefits ahead of parliamentary showdown

June 16, 2020

The promise for an update on the extension by week's end comes as NDP Leader Jagmeet Singh has hitched his caucus' support for an expected vote on a key spending bill on Wednesday contingent on a commitment to extend the program. "When Mr. Trudeau said we're going to be there for Canadians, it means something is going to be announced, but we want to do things properly, so it's not only a matter of extended or adjusting..." "We're flexible with the response from the government, but we're firm ...

California and Washington are reportedly looking into how Amazon treats demand partners

June 15, 2020

The New York Times reported Friday that state investigators are probing the company in Washington, while the Wall Street Journal reported the same day that California is conducting an investigation into Amazon's alleged misconduct towards third-party merchants.

Boris Johnson holds crunch summit with European Union chief Ursula von der Leyen

June 15, 2020

Britain formally left the European Union on January 31 and is now negotiating a trade agreement. Mr Aiken said there has been no risk assessment of the implications of additional costs of trade with the "biggest market, that is the rest of the country".

Oil drops as new coronavirus outbreaks raise fuel demand concerns

June 15, 2020

OPEC+ cut oil supplies by 9.7 million barrels per day (bpd), about 10% of pre-pandemic demand, and agreed last weekend to extend the reduction. A few days back, Nigeria suggested that it would now fully comply with the OPEC agreement and would bring down its production.

UK: Over fifth of economy lost in April due to lockdown

June 15, 2020

Meanwhile, the country's overall GDP fell by 10.4 percent in the three-month period ending with April, " as government restrictions on movement dramatically reduced economic activity ", the ONS said. And it suggests only about one in 1,700 people were infected between May 25 and June 7. The data spikes again later in the week, as more deaths are recorded of those who have tested positive for Covid-19.

Kudlow: Extra $600 in unemployment a 'disincentive' to return to work

June 15, 2020

Kudlow presented an optimistic outlook on State of the Union , saying "we are in the recovery stage" as he forecast rapid job and financial recovery. But Kudlow appears to contradict himself practically right away by expressing some places are up - although he is rapid to say the Trump Administration has it managed.

Band-Aid announces new bandages 'that embrace the beauty of diverse skin'

June 15, 2020

These new Band-Aids come in five skin tones and will be available in the USA sometime in the future, company spokesperson Katherine Lal told Daily Hive. The brand has previously received criticism over its lack of representation for people of color since the product was first created in 1921, and has sold a pink "flesh" color for almost a century, according to the company's website .

OSDH: 225 New Coronavirus Cases Across Oklahoma, 0 New Virus-Related Deaths

June 15, 2020

No new confirmed cases of the novel coronavirus were reported in La Salle County, the La Salle County Health Department reported Saturday. Additionally, Kansas Department of Health and Environment data shows Sedgwick County is trending upwards in daily case rates per 100,000 people and hospitalizations, which are opposite of the statewide trends.

Top airlines take United Kingdom government to court over 'devastating' quarantine

June 15, 2020

BA, along with competitor airlines easyJet and Ryanair , launched legal action on Friday to try to overturn the quarantine policy. The government, meanwhile, has argued that the quarantine restrictions on arrivals are vital to prevent the further spread of Covid-19.

Crude oil records first weekly decline in six weeks

June 15, 2020

The contract is down 7.3 per cent this week. Brent crude oil for August delivery rose 18 cents to $38.73 a barrel. July natural gas fell 8 cents to $1.73 per 1,000 cubic feet. A cluster of infections in Beijing has increased concern of a resurgence of the disease. The threat of a protracted recovery may put pressure on OPEC and its allies to cap production throughout 2020, and the group may take further steps to rebalance the energy market as the most recent Monthly Oil Market Report ...

AstraZeneca deal to supply European Union with 300 million COVID-19 vaccine doses

June 15, 2020

Sinovac's development of a vaccine against COVID-19 began in January 2020 in partnership with leading academic research institutes in China . The EU population of around 447 million requires the anti-virus vaccine, and the pharmaceutical group AstraZeneca is ready to supply to the EU of 300 million doses of a possible coronavirus vaccine, the German government confirmed on Saturday .

Just Eat Takeaway's $6 Billion Grubhub Grab Tests Growth Limits

June 15, 2020

Wall Road cheered the acquisition of Grubhub by Dutch-based mostly shipping big Just Try to eat Takeaway.com on Thursday, sending Grubhub's shares up by 4.7 per cent even though pushing shares of Grubhub's previous suitor, Uber , down 11 per cent.

Band-Aid recognizes diverse skin with more inclusive bandages

June 14, 2020

Band-Aid has announced it will make black and brown coloured bandages as part of its "fight against racism , violence and injustice". "We now sell BAND-AID brand Clear Strips Adhesive Bandages, which were created to be used by people with a variety of skin tones ".

Covid-19 vaccine by Sinovac shows positive results in initial trials

June 14, 2020

AstraZeneca recently struck similar agreements with Britain, the US, Norway-headquartered Coalition for Epidemic Preparedness Innovations (CEPI), and the global vaccine alliance Gavi. The contract is for 400 million doses of the vaccine which was developed at the University of Oxford. The OWS is aimed at speeding up the development, manufacturing, and distribution of medical countermeasures to the Chinese Communist Party virus .

Finance minister says Britain to urgently review distancing rule

June 14, 2020

Ministers are under intense pressure from Conservative MPs who see the easing of the two-metre rule as crucial to the next phase of the reopening, including pubs and restaurants, slated for early July. "As we get the numbers down, so it becomes one in a thousand, one in 1600, maybe fewer, your chances of being, two metres, one metre or even a foot away from somebody who has the virus are obviously going down statistically, so you start to build some more margin for manoeuvre and we'll be ...

Centre Burdening Common Man With High Taxes On Petrol, Diesel: Congress

June 14, 2020

While price of petrol was raised by 59 paise per litre, a litre of diesel became costlier by 53 paise as oil marketing companies look at cutting losses incurred during the lockdown period when demand fell in a massive manner. The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances. Surjewala alleged that between 2014-15 and 2019-20, the Modi government has hiked taxes on petrol and diesel 12 times and has ...

United Kingdom and Australia investigating Facebook's GIPHY deal

June 14, 2020

An investigation has been launched into Facebook's acquisition of GIF sharing platform Giphy by United Kingdom regulators. Facebook had been planning to integrate Giphy into Instagram , its photo-sharing app. The gist of it is, CMA suspects Facebook and Giphy merging into a single entity, which would impact the competition in a negative way. "Everyone will continue to have the same access to GIPHY", the company said .

Microsoft hits pause on selling law enforcement facial recognition tech

June 14, 2020

He has been urging lawmakers to take a stand on facial recognition software for two years, but a bill in Microsoft's home state of Washington that borrowed heavily from his proposals has failed twice. "If all of the responsible companies in the country cede this market to those that are not prepared to take a stand, we won't necessarily serve the national interest, or the lives of the black and African-American people of this nation well", Smith explained.

Italy, Germany, France and Netherlands sign contract with Astrazeneca for COVID vaccine

June 14, 2020

The Netherlands, Italy and Germany will play a big role in manufacturing the drug in Europe , he said. Other companies, including Moderna and Sanofi, are racing to develop and produce a vaccine against the new coronavirus , a step experts say will be crucial to allowing countries to ease their lockdowns and restrictions on public life.

Facebook fires employee who tweeted about inaction at workplace #104833

June 14, 2020

The company said during the walkout that participating employees would not face retaliation. "I can confirm the accuracy of Brandon's tweets explaining what happened", a Facebook spokesperson told Business Insider. Zuckerberg's position has prompted rare public rebukes and even resignations within the company, both from Facebook employees and content moderators , as well as external pushback from civil rights leaders and other critics.

PM Modi reviews COVID-19 situation, India's response

June 14, 2020

The sudden interaction with chief ministers by the Prime Minister, clearly indicates that a clear strategy needs to be drawn up to arrest the spike in fresh cases as many states have been following their own plans to implement the lockdown.

Treasury Secretary Mnuchin: ‘We Can’t Shut Down the Economy Again’

June 14, 2020

That damage goes beyond economic fallout, extending to "medical problems and everything else that get put on hold", he said. "I was very pleasantly surprised by the recent numbers, I though we were going to bottom in June not in May", Mnuchin said.

DeSantis Announces School-Reopening Recommendations

June 14, 2020

If a regular student could make money as a social media influencer, why couldn't an athlete? Though it was clear from the NCAA's recommendations that it's looking for federal help in governing college athletics. "I see people going to Alabama and Clemson and I know they've got good programs, but there's nothing better than winning a national championship in your home state".

North American stock markets plunge at start of trading, loonie falls

June 14, 2020

American stock exchanges were hit even harder. The energy sector led the Toronto market lower with a slide of nearly 10 per cent. The major averages posted their worst day since March 16, when they all dropped more than 11%. Stocks suffered their biggest one-day pullback in three months on Thursday as traders grew concerned about the number of coronavirus cases increasing in some states that are reopening up from lockdowns.

Following economic crisis: Syria's Assad sacks PM Khamis

June 14, 2020

Media reported that the national currency had fallen against the U.S. dollar over the recent days, prompting prices for life necessities to significantly soar. Khamis was the sixth prime minister to serve under Assad, who has ruled the country since 2000. Ali told the radio late Wednesday that the Central Bank "forcefully interfered" to stop the depreciation of the currency, calling it part of an "economic war" against Syria.

Petrol prices breach ₹75-mark in Delhi in seventh consecutive hike

June 14, 2020

Kolkata too felt the brunt of rising fuel prices as the price of a litre of petrol rose 57 paise to Rs 77.05 per litre. In Delhi, one litre of petrol cost Rs 75.16 per litre, up from Rs 74.57 per litre on Friday, an increase of 59 paise. Former Union Minister Kapil Sibal said at a press conference that Central excise duty on petrol has been increased by 258% and on diesel by 819% since the Modi government came to power in May 2014.

Hertz Bankruptcy Court Approves $1B Stock Sale

June 13, 2020

The US auto rental company Hertz (NYSE: HTZ ) wants to use the current stock market phase and, despite the bankruptcy proceedings, issue new shares worth up to $ 1 billion. The company's almost $3 billion of unsecured bonds traded at around 40 cents on the dollar Friday. A share offering would avoid new interest, fees and restrictions on Hertz's finances and wouldn't impose any claims from a bankruptcy loan that would outrank existing creditors, the company said.

North West wage support passes one million jobs

June 13, 2020

The figures show that 20,000 people, or 17.8% of the local population, including children and pensioners, have been furloughed there. A total of 6,800 workers have been placed on furlough leave in Montgomeryshire, figures released this morning have shown.

AstraZeneca agrees to supply Europe with 400mn doses of Covid-19 vaccine

June 13, 2020

The agreement signed by the Anglo-Swedish company and Europe's Inclusive Vaccines Alliance will also make the vaccine available to any European Union country that wishes to take part in the initiative. The doses "must be distributed to all member states that want to participate, depending on the size of their population", the ministry said. De Jonge said that the risks attached to making such an investment, before the vaccine had been proved to work, were not outweighed by the social ...

California examines Amazon's business practices

June 13, 2020

The watchdog group reportedly intends to accuse Amazon of using data from third-party sellers to compete against them. The EU competition enforcer may soon send a charge sheet called a statement of objections to the company, outlining suspected violations of antitrust laws, the person said.

Band-Aid announces plans to release racially diverse range of bandages

June 13, 2020

Band-Aid shared new bandages in a diverse range of skin tones on Instagram this week, but it's not clear if Canadians will be able to purchase the darker colours. "In addition, we will be making a donation to @blklivesmatter". In an email, a spokeswoman for Johnson & Johnson Consumer Cos. said Band-Aid plans to launch a range of bandages in light, medium and deep shades of brown in its most popular style, Flexible Fabric, next year.

Lebanon currency crisis: Dozens hurt in second night of clashes

June 13, 2020

The head of the Money Exchange Syndicate, Mahmoud Mrad, told reporters that the central bank governor had promised to inject U.S. dollars into the Lebanese market to prop up the country's currency. In one incident in central Beirut, roughly 200 young men gathered on mopeds, some of them defacing shop fronts and setting fire to stores. Prime Minister Hassan Diab canceled his meetings and called for an emergency session to discuss the financial crisis, while the Central Bank's governor urged ...

Petrol price hiked by 57 paise/litre, diesel by 59 paise in Delhi

June 13, 2020

According to the latest update, the petrol prices have gone up by 57 paise, making it Rs 74.57 per litre while the diesel prices have been increased by 59 paise, which has made it Rs 72.81 per litre in Delhi today. "As of March 30, 2017, retail prices of petrol and diesel have been regulated on a weekly basis and enforced by KPDNHEP under the Price Control and Anti-Profiteering (Determination of Maximum Retail Price for Petrol and Diesel) in accordance with the Price Control and ...

Information