Economy / 16

Province allowing local school boards to choose model for reopening schools

June 20, 2020

Ronald Cohn, president and CEO of SickKids said in a statement . For its part, the Windsor-Essex Catholic District School Board (WECDSB) used a media release issued on Friday to address the province's school reopening plan. Stiles added that the government left the "heavy lifting" to the school boards. "Throughout the summer we will continue to consult with parents, our local health unit, our trustees, our coterminous school boards, our principals and all of our labour groups to develop a ...

Officer Karen Has Meltdown Over Wait For McMuffin, Talk About McPrivilege

June 20, 2020

Her video generated mixed responses on social media with some sympathetic to the veteran cop, while others called her " Officer Karen ", referencing recent incidents involving perceived entitled white women. On Wednesday, several people slammed Talbert for crying over the food order just days after black man Rayshard Brooks was gunned down in the drive-thru of a Georgia Wendy's by white cops.

Australia jobless rate surges to 19-year high in May

June 19, 2020

The jobless rate jumped to 7.1 per cent in May following the loss of 227,700 posts, which was nearly three times more than forecast and followed a more than 600,000 fall the month before, according to the Australian Bureau of Statistics . The biggest jump was in Western Australia , where the jobless rate rose to 8.1 per cent from 6.1 per cent. The drop comes after 325,000 women lost their jobs in April.

Unemployment in Missouri remains high, dipped slightly in May

June 19, 2020

But while the state's unemployment rate fell from a record 17.6% in April to 13.7% in May, that's still near the state's previous high of 14% unemployment in December 1982 and January 1983, according to U.S. Earlier this month, Gov. Parson launched the Economic Recovery Dashboard, a tool to help track the state's economic recovery. The latest unemployment report became available Thursday, and it once again reflects the toll taken by the COVID-19 pandemic.

Trump warns of 'complete decoupling' from China despite talks

June 19, 2020

The United States Trade Representative, Robert Lighthizer , has warned that it will be "almost impossible" for the United Kingdom to secure a finalised trade deal with President Donald Trump before the us election in November. That disparity puts USA exporters at a disadvantage. He assured the House Ways and Means Committee that China will fulfill its commitments to buy more USA goods and services over the next two years.

No Chinese Equipment For 4G Upgrade, Centre To Tell BSNL

June 19, 2020

The two ailing telecom public sector units, which are being upgraded to 4G as part of a broader revival plan , have been asked to rework their tender in connection to the matter. lawmakers warned of cyber espionage threats from telecom networks built by Chinese companies and suggested that American companies considering to do business with Huawei and ZTE should look for other vendors.

Canada Annual Inflation Rate Declines in May

June 19, 2020

Clothing and footwear prices were down 3.1% amid heavy discounting during the lockdown. The consumer price index, (CPI) which measures inflation, released Wednesday by the National Bureau of Statistics (NBS), showed that price increases were recorded in all divisions that yielded the headline index.

Zoom relents and agrees to give free users end-to-end encryption

June 19, 2020

The great video chat faceoff: Six apps. It gained hundreds of millions of users over the past few months but it has also been at the center of controversies and broken promises . To offer end-to-end encryption to all users, Zoom will require users to provide some form of verification. To make End to End Encryption (E2EE) possible, Free/Basic users seeking access to E2EE will be required to verify themselves via a phone number and a text message.

Target Sets Starting Minimum Wage at $15

June 19, 2020

A Target spokesperson tells Yahoo Finance the pandemic pay will end as planned on July 4 after several deadline extensions. Starting this week Target it will offer free access to health care through virtual doctor visits, regardless of whether the employee now subscribe to a Target health care plan.

US SEC Has Problems With Car Rental Firm Hertz Selling New Shares

June 19, 2020

The company halted sales while it deals with issues brought up by SEC officials, according to a filing. The stock later resumed trading. The unusual green light was given by a bankruptcy court in the USA state of DE, which "held a hearing and approved the Motion", according to documents filed by Hertz with the Securities and Exchange Commission (SEC).

China-Africa summit important solidarity platform to fight coronavirus: World Health Organization chief

June 19, 2020

The virtual summit was convened by China, South Africa, and Senegal. Noting that the world is undergoing profound changes unseen in a century, Xi said closer cooperation between China and Africa "is needed more than ever". He said because of the pandemic, that has killed 6 700 people on the continent with 250 000 confirmed infections, economies in Africa will suffer gravely.

Saudi Arabia's sovereign wealth fund invests $1.5bn in Jio Platforms

June 19, 2020

Mukesh Ambani's Reliance Jio has led a slew of massive investments in the past nine weeks and that has pushed Reliance to now be net debt free . On August 12, 2019, at the 42nd AGM of RIL chairman Mr. Ambani had assured the shareholders about his roadmap for Reliance becoming a net-debt free company before 31st March 2021.

Coronavirus: American Airlines passenger removed for not wearing mask

June 19, 2020

Alaska Airlines, American Airlines, Delta Air Lines, Hawaiian Airlines, JetBlue Airways, Southwest Airlines, and United Airlines agreed to require face coverings for passengers. Straka replies that he doesn't have any of those items. In the audio, a woman can be overhead shouting: "Sir, can you put it on or get off?" Keen to enforce its regulation, five staff members approached Mr Straka to ask him to wear a mask.

Greene King apologises for founder's links to slavery

June 19, 2020

The pub chain and brewer Greene King and the insurance market Lloyd's of London both revealed on Wednesday evening that they would be making the reparations. "We can't change what's gone before us, only how we go forward", a Barclays spokesman said. "We are committed as a bank to do more to further foster our culture of inclusiveness, equality and diversity, for our colleagues, and the customers and clients we serve".

Opec+ pushes for compliance, undecided on oil cut extension

June 19, 2020

To compare, at this time past year, U.S. commercial crude inventories were 485.5 million barrels. Saudi Arabia is significantly cutting its crude oil exports to the USA this month, with shipments likely to hit a 35-year low and reducing the overhang in United States oil inventories, Bloomberg reported, citing tanker-tracking data.

Kia Sedona / Carnival Teased, New Spy Shots Emerge

June 19, 2020

It is termed as "Symphonic Architecture" by the brand and the front fascia has unique details such as a redesigned front bumper and grille inserts, possible wider air inlets, and more aggressive character line running along the length of the vehicle.

Job Declines from coronavirus pandemic'Catastrophic': Australian PM Morrison

June 19, 2020

According to the Australian Bureau of Statistics , a total of 227,700 jobs were lost between mid-April and mid-May. He also warned there would likely be more people joining unemployment queues in the months ahead. That would be the highest unemployment rate since the ABS started collating monthly figures in 1978, and probably the worst since the Great Depression.

Food companies evolving racially-toned brands like Uncle Ben's and Aunt Jemima

June 19, 2020

Quaker Oats announced that it would discontinue the brand, which has featured the Aunt Jemima character since 1889. BTW, folks are now calling for a handful of other brands to be changed ASAP because of the same issue - among them are Uncle Ben's Rice and Cream of Wheat .

Bank of England raises bond-buying programme again to £745 billion

June 19, 2020

Additionally, there are signs of consumer spending and services output picking up, following the easing of Covid-related restrictions on economic activity. The Bank has been purchasing nearly all the gilts issued in recent months to finance the covid-related support measures and would otherwise have reached its limit in July.

United States import of Nigerian oil falls by 63%

June 19, 2020

The panel, known as the Joint Ministerial Monitoring Committee (JMMC), advises OPEC+ and will meet again on July 15, when it would recommend the next level of cuts, created to support oil prices battered by the coronavirus pandemic. To tackle the drop in demand, OPEC+ - which includes Russian Federation - agreed to a record supply cut that started on May 1, while the United States and other nations said they would pump less.

Australia likely to keep its borders shut to worldwide travellers till 2021

June 19, 2020

Some global students will be let back into the country to study from next month as part of "pre-approved" pilot programs and Senator Birmingham has suggested some business travel may also be opened up. "Australia will be looking to secure better market access for goods exports, especially in agriculture, and high-standard rules on digital trade and investment", he said.

Trump renews threat to cut ties with China

June 19, 2020

Trump made clear the deterioration in the relationship last month when he said he had no interest in speaking right now to President Xi Jinping, whom he has hailed as a friend, and suggesting he could even cut ties with China . "I think we shouldn't confuse science with consumer preference", he said. "I'm not a fan of the appellate body". Lighthizer vowed that there would be no compromise regarding United States agricultural exports.

Trump signs bill to pressure China over Uyghur Muslim crackdown

June 19, 2020

In an excerpt of his forthcoming book Bolton wrote Trump discussed the detention camps built by the Chinese government for Uyghurs in western China during a dinner at the G20 past year. The legislation, which passed Congress nearly unanimously, requires the U.S. administration to determine which Chinese officials are responsible for the "arbitrary detention, torture and harassment" of Uighurs and other minorities.

Nation digests details of latest cyber attack

June 19, 2020

Morrison told a press conference that he raised the attack with UK Prime Minister Boris Johnson on Thursday night and also sought co-operation from Australia's Five Eyes intelligence partners, the United States, Canada, New Zealand as well as the UK.

US Weekly Jobless Claims Stay Elevated, Suggesting Long Road to Economic Recovery

June 19, 2020

More than 45 million people have now filed for unemployment in the nation since the coronavirus pandemic began to batter the economy in March. Data for the prior week was revised to show 24,000 more applications received than previously reported, bringing the tally for that period to 1.566 million.

Time Jobless Claims Rise Slightly For First Time In 10 Weeks

June 19, 2020

The Delaware Labor Department received 2,516 new claims for the week ending June 13th. That's in contrast to the national rate which dropped from 14.7 to 13.3 percent. Stettner said it is too early for Congress to end the $600 a week federal pandemic unemployment payments with COVID-19 cases increasing in almost two dozen states considering 22% of those eligible for the payments live in states where regular unemployment compensation is less than $300 a week.

Extra $600 in unemployment a 'disincentive' to go to work

June 17, 2020

The unemployment rate hit 14.7% in April and dropped to 13.3% in May, surging past the peak rate during the Great Recession. With the US jobless rate still at levels not seen since the Great Depression and coronavirus-induced mass layoffscontinuing across the nation, millionaire White House economic adviser Larry Kudlow complained Sunday that the $600-per-week increase in unemployment insurance authorized by the CARES Act is too generous and said the benefits should expire at the end ...

Brexit deal feasible in July: UK's Johnson

June 17, 2020

It was "very clear what the United Kingdom needs" from the deal, he said, adding: "We can't have the involvement of the European Court of Justice in this country, we can't have a system whereby we continue to have to obey EU law even when we're out of the EU and we've got to get a great deal for our fish".

Market Wrap, June 17: Heres all that happened in the markets todays

June 17, 2020

Auto major Maruti Suzuki India (up over 4 per cent) ended as the top gainer on the index. The Nifty PSU Bank index rallied almost 1.5 per cent to 1,371.50 levels while Nifty Media ended at 1,298.80, up almost a per cent. "Volatility to remain", Vinod Nair, Head of Research at Geojit Financial Services said in a post-market statement. Meanwhile, the rupee depreciated 19 paise and closed below the 76 per dollar mark as weak domestic equities and sustained foreign fund outflows weighed on ...

Inflation falls to four-year low after record drop in fuel prices

June 17, 2020

The Office for National Statistics said the biggest impact on May's fall in inflation - the lowest since June 2016 - had come from the cost of transport, with low global oil prices leading to a drop of nearly three pence a litre in the cost of petrol.

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".

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