Economy / 12

Tens of thousands of Israelis protest Netanyahu’s handling of Covid-19 crisis

July 13, 2020

Some signs read " Let us breathe " referring to the global protests against racism that came after George Floyd's death. The event was organised by self-employed, small business and performing artists' groups angry at coronavirus curbs which have taken away their livelihoods.

Social Media Is Now Linking Wayfair And Ghislaine Maxwell To Sex Trafficking

July 13, 2020

A conspiracy theory emerged Friday that the Wayfair online store was utilizing the sale of storage cabinets as a cover for child trafficking- which the home decor business right away denounced as incorrect. I told you this was really out there. A wild conspiracy theory deep dive isn't worth accidentally linking yourself to potentially illegal materials.

Crystalline Silicon Solar Cells Market to witness an impressive growth during t

July 12, 2020

The report divides the regional terrain off the Crystalline Silicon Solar Cells market into North America , Europe and Asia-Pacific, South America , Middle East & Africa provides with important data such as the valuation garnered by each geography listed.

Financials lift S&P 500, Dow despite record USA virus cases

July 12, 2020

About 41 of the 50 US states have reported an increase in cases over the last two weeks that has forced Americans to take new precautions, with several states backpedaling on reopening plans. On Friday " s session, the Dow Jones Industrial Average rose by 369.21 points, or 1.44 percent, to 26,075.30, whereas in the meantime, the S&P 500 jumped by 1.05 percent or 32.99 points to 3,185.04.

UK, Australia investigate Clearview facial recognition firm

July 12, 2020

The UK's Information Commissioner's Office ( ICO ) said it had opened the investigation , alongside the Office of the Australian Information Commissioner (OAIC), into "the personal information handling practices" of Clearview AI. Company founder Hoan Ton-That has said the technology has been made available to more than 600 law enforcement agencies globally, raising concerns about police surveillance.

Harley-Davidson to cull 700 jobs globally this year

July 12, 2020

Harley-Davidson also said chief financial officer John Olin will be leaving the company immediately. The company says that details of a strategic plan for 2021 through 2025 will be made clear in Q4 of 2020. Harley-Davidson has branded its job cuts and restructuring plan "The Rewire", which Zeitz spoke about in the company's first-quarter earnings call back in April.

Rivian gets $2.5 billion in funds in first investment round of 2020

July 12, 2020

Rivian expects to manufacture 100,000 of the vans and begin delivery in 2021. The faith of investors in electric vehicles keeps on growing with Rivian being the latest to secure a bundle of cash: $2.5 billion led by T. Moreover, while Tesla is still planning to set up a facility for the Cybertruck's manufacturing process, Rivian has already found an abandoned Mitsubishi Motors plant in Normal, Illinois, and is spending more than $750 million to equip, renovate and expand the ...

Saskatchewan adds 30,000 jobs in June, unemployment rate drops: StatCan

July 12, 2020

The city's Labour Participation Rate was 54 per cent last month. Gain in employment, however, were not equal. Comparatively, the Western provinces including Alberta, Saskatchewan, and Manitoba reported job increases of 92,000, 30,000, and 29,000, respectively.

Muji USA Files for Chapter 11 Citing Pandemic Shutdowns

July 12, 2020

According to owner Ryohin Keikaku Co., Muji, which has 18 units in the US, had been grappling with losses that stemmed from high rent and other costs even before the outbreak took hold. Monthly same-store sales at Ryohin Keikaku's Japan outlets fell by about a half during a state of emergency in the country during April and May. Muji's U.S.

Mnuchin says administration backs 'another round' of coronavirus stimulus checks

July 12, 2020

Senate Majority Leader Mitch McConnell (R-Ky.) told reporters in Kentucky that the next round of CCP (Chinese Communist Party) virus stimulus checks could be sent to those people. The first round of CARES Act stimulus payments sent checks to nearly 159 million Americans, totaling almost $267 billion. However, Trump has said that he wanted payments to be larger than what has been proposed by Democrats - apparently alluding to the stimulus check proposal in the $3 trillion ...

Large KFC order in Melbourne leads police to issue enormous COVID fines

July 12, 2020

Cops were the auto registration, which then led to a house. Only adding to the stupidity of the whole scenario, Patton confirmed that when officers attended the residence, 16 people at the party had attempted to hide. One driver from Docklands was fined while attempting to travel to Phillip Island after being previously turned around and warned at a checkpoint. Four sex workers were fined at a brothel that was still receiving customers, as were a couple who tried twice to reach their ...

Aston Martin DBX Drives Off Production Line

July 12, 2020

According to the company, worldwide deliveries are set to begin later this month. The DBX concept was first seen at Geneva 2015, recruitment for the St Athan facility began back in 2016, PH swung by for a Sunday Service three years and production of the prototypes began just over 12 months ago .

Malaysia's AirAsia in talks to secure funding of over RM1b

July 12, 2020

The Asian carrier's financial overall performance and hard cash move have been even more hit by the grounding of its planes amid limited journey curbs and lockdowns. Bloomberg quoted K. Ajith, an aviation analyst at UOB Kay Hian Pte in Singapore, as saying AirAsia would need around $467 million this year to "stay afloat".

U.S. jobless claims dropped to 1.3mn last week

July 11, 2020

Washington, July 10 (SocialNews.XYZ) The number of initial jobless claims in the USA totaled 1.3 million last week, the 13th weekly decline in a row but still a historic high, the Labor Department said in a report. Statewide, initial claims were down 11 percent last week from the prior week. Without seasonal adjustments, state initial claims fell by a more-moderate 32,000 from the prior week.

Work from Home? Or Work From Barbados?? | Mix 99.9 | Mary

July 11, 2020

The Caribbean island is looking to attract visitors and boost its economy with a new " Barbados Welcome Stamp" scheme. Tourism is also the reason that most folks on the island have jobs. Barbados will officially reopen its borders to worldwide travel on July 12th 2020. But in order for those things to truly resonate, what does it mean? "The government is committed to working with you on the promotion of new concepts like the 12-month Barbados Welcome Stamp, being able to open our ...

Crypto exchange Coinbase readies landmark stock market listing, sources say

July 11, 2020

The cryptocurrency exchange Coinbase has started planning for a stock-market listing that could take place as soon as this year, Reuters reported on Thursday , citing sources familiar with the matter. Coinbase reportedly has held preliminary talks with investment banks and law firms for its potential float. The source requested anonymity because preparations for the IPO are confidential, and the SEC declined to comment.

$80m Powerball jackpot: New details in search for victor

July 11, 2020

Because the lucky victor was not registered to a Tatts Card, lottery officials have no way of getting in touch with them. Heading into this latest draw, the combined Powerball and Powerball Plus jackpots amounted to an exciting R174 million On Tuesday evening, the Powerball jackpot stands at an estimated R21 million and the Powerball Plus jackpot at R153 million .

Boots Opticians announces job losses and closures

July 11, 2020

British department store chain John Lewis said on Thursday it would close eight stores, putting around 1,300 jobs at risk in another blow to the United Kingdom retail sector after the coronavirus pandemic accelerated a shift to online shopping.

U.S. sanctions may have made Huawei more of a security risk

July 11, 2020

Britain's two largest telecommunications companies, BT Group and Vodafone Group have warned the United Kingdom parliament that the process of completely replacing Huawei equipment in their networks, should the government order it, might take between five and seven years and billions of dollars, potentially impacting mobile service prices.

Iconic sedan nameplate now an SUV also — Toyota Corolla Cross

July 11, 2020

Those numbers make this new Toyota crossover 140mm shorter and 65mm lower than a Rav4, but also 70mm longer and 30mm higher, compared to the C-HR crossover. These include a 1.8-litre petrol unit producing 138 BHP and 175 Nm and a 1.8-litre petrol hybrid producing 168 BHP and 305 Nm. Toyota is also offering the new Cross in standard gasoline and hybrid options, both utilizing a 1.8-liter four-cylinder engine and front-wheel drive.

COVID-19: B.C. economy grew by 118,000 jobs in June

July 11, 2020

According to Statistics Canada's monthly labour force survey released Friday, B.C.'s unemployment rate was at 13 per cent in June - down from 13.4 per cent the month before. If you're looking for work, there are lots of jobs out there. "We're at over 13 percent unemployment in B.C., and with the majority of jobs being part-time, the long-term jobs outlook for B.C.is a major concern for people", said Sturdy.

Nasdaq ends at record high as Wall Street rises with tech shares

July 10, 2020

On the other hand, the Nasdaq Composite was losing 0.42% at 10,500. US stocks opened higher on Thursday after data pointed to a declining trend in weekly jobless claims, with investors also weighing the risk of another business shutdown as US COVID-19 cases soared.

Rivian looks to be the next EV disruptor after landing new investments

July 10, 2020

Electric-vehicle startup Rivian, which is among the most-anticipated challengers to Tesla and has already secured investments from the likes of Ford and Amazon, has completed a new $2.5 billion round of funding, the company said on Friday.

Canada: Unemployment Rate falls to 12.3% in June vs. 12% expected

July 10, 2020

The Canadian economy added 952,900 jobs in June, far above the average estimate for a gain of 700,000, the agency says. Canada-wide, employment rose by almost one million jobs (953,000) in June with retail (184,000) and the service industry (164,000) seeing the largest gains.

Costco Customer Who Lashed Out Was Fired From His Job!

July 10, 2020

I feel threatened", the man screamed, presumably spraying spittle everywhere and advancing toward another man who had reportedly come to defend the elderlywoman. The man was told to leave the store by Costco employees, who also ensured the woman went into her auto safe and sound. The video has been viewed more than 11 million times.

Bed Bath & Beyond plans to close about 200 stores nationwide

July 10, 2020

Excluding one-time items, it lost $1.96 per share. The Bed Bath and Beyond chain, which has five stores in the Portland metro area, reported its quarterly sales dropped 49% due to temporary store closures amid the pandemic. The retailer's online business has been bolstered by the expansion of its buy-online-pick-up-in-store and curbside pickup services during the pandemic.

Federal government projects COVID-19 to push deficit to $343.2 billion

July 10, 2020

Opposition parties and industry groups have been pressuring the Liberal government to provide some indication as to when it will begin to rein in its spending programs, warning that indiscriminate spending could begin to weigh on an eventual economic recovery.

China's producer prices extend declines amid sluggish demand

July 10, 2020

The Producer Price Index (PPI) in June fell 3% from a year earlier, China's National Bureau of Statistics (NBS) said in a statement today, slower than a 3.2% fall tipped by a Reuters poll of analysts and a 3.7% decline in May. He said this adds to evidence that industrial demand mostly recovered by the end of the second quarter. The small let-up in "disinflationary pressures" is conducive for more monetary easing, "and with companies still under pressure from the pandemic, we expect the ...

Korea Running against 7 Other Countries for Top Post at WTO

July 10, 2020

Kenyan Sports, Culture and Heritage Minister Amina Mohamed is a lawyer, diplomat and politician who has vast public service experience at the national and global levels. The WTO is staging a swift contest to replace outgoing director-general Roberto Azevedo. In a surprise move in mid-May, Azevedo, 62, announced that he would end his second four-year term early for personal reasons, forcing the Geneva-based WTO's 164 member states to come up with a successor in just three months instead of ...

Covid-19: furlough extended for parents on statutory leave

July 09, 2020

For any employees that have not previously been placed on furlough, the cut-off date is Wednesday (10 June) so that they can complete the minimum 3-week requirement before 30 June. The survey comes as companies prepare to start amending, or indeed significantly winding down, their involvement with the government's furlough scheme, which covers pays 80 percent of nearly nine million workers' wages.

Muslim woman gets 'ISIS'-labeled Starbucks drink

July 09, 2020

It is not right. The woman added that it is not possible that the person who took her order could have misunderstood her name as ISIS as she slowly repeated it multiple times. In a statement to CNN , a Target spokesperson noted "everyone who shops with us to feel welcomed, valued and respected and we strictly prohibit discrimination and harassment in any form".

Gold price hit pass $1800 an ounce, highest since 2011

July 09, 2020

The acceleration in United States coronavirus cases implies further support from the Federal Reserve. At 12:04 pm, gold futures quoted at Rs 47,997 per 10 grams, down 0.10 per cent compared to their previous close, while silver futures were up 0.05 per cent at Rs 49,204 per kilogram.

Mystery victor scores $50 million Oz Lotto jackpot

July 09, 2020

So far in 2020, there have been nine Oz Lotto division one winning entries across the country, with lucky Aussies taking home $77,143,666 in prize money. One lucky NSW resident is about to be a multi-millionaire after a mystery victor scored the $50 million jackpot on Tuesday. The Lott spokesperson Lauren Cooney said the elusive victor had the only division one entry in the draw.

Palantir moves toward stock listing with confidential filing

July 09, 2020

Timing of the listing, Palantir said, would depend on the SEC completing its reviews, as well as market conditions and other factors. Palantir's announcement didn't give any hints about what valuation the business would goal for when it goes general public.

Brooks Brothers goes bankrupt with formal attire losing favour

July 09, 2020

Brooks Brothers was one of the few national chains that produced its clothing in the U.S. In March, it shifted some production at plants in New York , North Carolina and MA to produce 150,000 masks per day for front-line health workers. Jonathan Pasternak, a bankruptcy lawyer at Davidoff Hutcher & Citron, said that even before the pandemic, Brooks Brothers' store expansion and the cost of making clothes in the USA had created a financial burden, but he does not believe the company will ...

United States stocks open higher, resuming upward climb

July 09, 2020

Tech shares continue to rise, Nasdaq hits new record . Investors have been weighing a string of upbeat economic data including record job additions and a rebound in the service sector in June, against the surge in US coronavirus cases recently, but the S&P 500 is still up more than 40% from its March closing low.

Audi Q4 E-tron Sportback leaks online ahead of unveiling today

July 09, 2020

Audi's first mid-size electric SUV is nearing production, and it's on the cards for local showrooms. There is a clear emphasis on giving the Q4 Sportback e-tron concept a wide profile for a dominant road presence. To their right, is a 12.3-inch infotainment system and minimalist climate controls. Based on the flexible MEB (modular electrification platform) architecture that underpins many VW Group electric vehicles, it comes equipped with two electric motors and a 82 kWh battery pack.

Coronavirus in Australia: Melbourne begins new shutdown

July 09, 2020

In Sydney, authorities are working to track down 48 passengers who were allowed to disembark a flight from Melbourne overnight without being checked for Covid-19 symptoms. Thousands of health workers are knocking on doors in the worst-affected areas of Melbourne urging residents to get tested for coronavirus, with officials saying about 10,000 people have refused after being influenced by online disinformation.

Boohoo hires top lawyer to investigate supply chain

July 08, 2020

That after a Sunday Times report alleging workers at one United Kingdom factory endured dire conditions, and were paid just £3.50 per hour - about $4.40. Before the reports it was valued at 5 billion pounds - about 6.2 billion dollars. It said the health and safety of workers has remained of utmost importance to the company.

United Airlines Sends Furlough Notices To Almost Half Its US Employees

July 08, 2020

United told employees to prepare to receive notifications of potential furloughs under the Worker Adjustment and Retraining Notification Act - known as the WARN Act - as soon as this week, the source said. Travel has picked up in some areas over the past two months as economies open up and travel restrictions loosen, though a recent spike in COVID-19 cases in some U.S.

Wall Street drops after strong rally as COVID-19 cases mount

July 08, 2020

The broader market, with the exception of the technology-laden Nasdaq , have traded in a relatively tight range since a recent peak on June 8 for the S&P 500 index and the Dow, as stalled business reopenings threaten the prospects of a V-shaped, or quick and sharp, recovery from a deep recession, barring a vaccine or effective treatments of the deadly illness.

Oil prices drop as US COVID-19 cases surge raise demand concerns

July 08, 2020

U.S. West Texas Intermediate ( WTI ) crude futures dropped 12 cents, or 0.3 per cent, to $40.50 a barrel, holding to the narrow range of the past few weeks. Virus cases in the US rose 1.8% from a day earlier to 2.96 million, according to data compiled by Johns Hopkins University and Bloomberg News. Florida is reintroducing some limits on economic reopenings.

Chinese shares close higher Monday, set multiple records

July 08, 2020

Analysts said another factor behind the market rally is that investors have begun to shift money to stocks from other investments subject to tighter regulatory oversight or suffering from lower returns. Jawboning by the Chinese government through a state-sponsored journal on the importance of "fostering a healthy bull market" helped spur the move, said Ray Attrill, head of FX strategy at NAB, in a research note .

Blackout Day draws attention to Black spending power

July 08, 2020

Black athletes and celebrities - including singer Rihanna, Cleveland Cavaliers center Tristan Thompson and rapper Cardi B - have used social media to bring wider attention to Blackout Day in recent weeks. If you're confusing Blackout Day with June's Blackout Tuesday , allow me to distinguish them from one another. "If we can do it for one day it would shut the whole system down".

Twitter Work-From-Home Plans Could Revolutionize Tech Industry

July 07, 2020

Twitter yesterday announced that all its employees could now work from home forever according to a company-wide email from chief executive officer Jack Dorsey . Perhaps one of the more generous outcomes of this policy is the fact that allowance for work from home supplies has been increased to US$1,000 for all employees.

Severe risks to the economic outlook, tilted to the downside — EU Commission

July 07, 2020

Germany, the EU's biggest economy, is expected to see a 6.3 percent contraction this year and 5.3 percent growth in 2021. Risks to the UK economy were "predominantly to the downside", the commission said, because its forecast is based on the current UK-EU trading relationship, which ends on 31 December 2020.

Ford will reveal 2 versions of the all-new Bronco next Monday

July 07, 2020

Ford plans to use the Bronco name to represent a family of vehicles, similar to what it did with the Mustang name, i.e.by slapping it on a battery-electric crossover SUV and possibly more models in the future. Since Ford's announcement of the Bronco's return in January of 2017, valuations of earlier Broncos have shot up - first generation sale prices have almost doubled from $39,763 to $74,820.

Brexit Talks Move to London after Tough Week in Brussels

July 06, 2020

The two sides are trying to thrash out a trade deal before Britain's final split with the bloc at the year-end. The European Union is willing to accept United Kingdom demands that post-Brexit fishing opportunities be divided using a scientific method that reflects the number of fish in United Kingdom waters, rather than the EU's Common Fisheries Policy.

These are all the meta in-jokes of Tesla's 'S3XY' shorts

July 06, 2020

Securities and Exchange Commission. In the past Musk has used short shorts to taunt Tesla short-sellers. The price is listed as $69.420 on the Tesla website and have the word "S3XY" written on the back - a probable reference to name of Tesla's cars .

Dominion, Duke ax contested Atlantic Coast Pipeline

July 06, 2020

Two major energy companies that had been fighting to build an environmentally unsound pipeline across the Appalachian Trail have given up the fight and canceled the project. In its first deal since the economic downturn caused by coronavirus, Berkshire Hathaway is purchasing natural gas transmission and storage assets from Dominion Energy in a deal worth almost $10 billion.