Economy / 15

The First All-Wheel Drive Toyota Avalon Is Here

July 18, 2020

Further enhancing its style, this little four-door rolls on 18-inch wheels that are finished in gloss black. Three exterior color combinations will be offered on this auto, including a gray called cement with a black sand pearl roof. When matched to a continuously variable transmission, it should return 31 miles per gallon city, 41 mpg highway and 34 mpg combined. Features like rear-cross traffic alert and Blind spot monitoring are included in TRD's standard specs list and remain optional in ...

China’s economy roars back to growth after record coronavirus contraction

July 18, 2020

The Q2 figure beat economists' expectations, which ranged between 2.5 percent and 2.9 percent. The rising tensions with the United States and the pandemic have added to structural issues that China has been facing for years, including demographic changes, over-investment, low industrial productivity and high debt levels.

American Airlines could slash 25,000 jobs

July 18, 2020

In March, Congress approved $32 billion for the aviation industry to keep workers on payroll through September 30, but as air travel demand remains depressed in the pandemic, airlines have warned of furloughs in October, prompting union calls for a six-month extension of aid.

Hogan Announces $501M Unemployment Insurance Fraud Case

July 18, 2020

Hogan said despite the incident the personal information of Maryland claimants has not been compromised. "To give you a sense of how that spike corresponds to our work, unemployment insurance fraud investigations have historically made up approximately 10% of our agency's investigative workload", Pickle said at the news conference.

Apple asks retail staff to work remotely as stores shut again

July 17, 2020

Subscribe to the CNET Now newsletter for our editors' picks of the most important stories of the day. Apple has been cautious about reopening its offices and retail outlets as coronavirus cases continue to spike in several states. This is not the experience that Apple wants to offer its customers, Ms O'Brien said. "We really want to make sure that we are moving to where our customers are, to help them during this very challenging time", O'Brien told workers this weekend.

Amazon extends corporate work from home policy to 2021

July 17, 2020

Some employees at a warehouse in Memphis, Tennessee, fault Amazon for ending the no-questions-asked leave and resent the fact that other employees can work from home. The loss of a regular influx of thousands of well-paid corporate and tech employees, on top of coronavirus restrictions, has hurt businesses in the South Lake Union and Denny Regrade neighborhoods where Amazon grew its headquarters campus during the last decade.

Goldman Sachs' Second Quarter Results Shatters Analysts' Expectations As Trading Business Surges

July 17, 2020

Profits came in at US$2.2 billion (RM9.38 billion), translating into US$6.26 per share. The firm's bond-trading desk raked in $4.24 billion, the highest quarterly total in nine years. The results showed the power of Goldman's trading business when times are good, but also raised questions about how the bank might have generated that income in lieu of the recent capital markets boom.

Air India institutes 'leave without pay' for up to 5 years

July 17, 2020

As Air India looks at ways to cut cost, the national carrier has approved a leave without pay (LWP) scheme for its employees for six months to two years and can be extended up to five years. It said due concern should be given to employees residing in the containment zones. "Doesn't this amount to unchecked greed and selfishness?" the Air India pilots said in their letter to the Rajiv Bansal.

Oil prices down with rising coronavirus cases worldwide

July 17, 2020

U.S. crude inventories fell by 8.3 million barrels in the week to July 10, beating analysts' expectations for a decline of 2.1 million barrels, according to data from industry group the American Petroleum Institute. "Most indications suggest that it will be the latter, with more focus on compliance and compensatory cuts", ING Economics said in a note. "Although oil prices have stalled, the buffet is gentle and not a prelude to an incipient spin lower", said Jeffrey Halley, market analyst at ...

Court rules in Apple's favor in RECORD $15bn tax case against EU

July 17, 2020

Meanwhile, the EU Commission was to unveil new plans to combat tax fraud only hours after the ruling in Luxembourg . At the time of the original decision, Apple CEO Tim Cook called the Commission's findings "wrongheaded", saying he hoped a court would overturn the decision.

Lockdown has claimed nearly 650,000 UK jobs since March

July 17, 2020

Many of those without jobs have given up looking for work in the current conditions, with those classed as "economically inactive" but who want employment rising by a record 253,000 in the quarter to May. However, the pace of job losses seemed to have slowed in June - Universal Credit claims by the unemployed and people on low incomes fell by 28,100 to 2.6 million between May and June.

CPI inflation rises for the first time in 2020

July 17, 2020

Inflation in food articles during June stood at 2.04 per cent, as against 1.13 per cent in May. "Annual consumer price inflation fell to its lowest reading since September 2004, dragged lower mainly by falling fuel prices ", it said in a statement.

How major United States stock indexes fared Wednesday

July 17, 2020

Apple contributed to the gains Wednesday, rising 0.7% after a European Union court annulled a 2016 European Commission order for the tech giant to pay $15 billion in taxes. The Federal Reserve's "beige book" survey showed activity pickup up nationwide as some businesses reopened following the upheaval of coronavirus closures, but "outlooks remained highly uncertain, as contacts grappled with how long the COVID-19 pandemic would continue and the magnitude of its economic implications".

15 women accuse former Washington execs of sexual harassment

July 17, 2020

Washington has primarily been focusing on its name change in the last week after the team officially retired the nickname and logo. The allegations run from 2006-19, spanning much of Dan Snyder's tenure as team owner. Santos, who was sacked this week, is accused by six former employees and two reporters who covered the team of commenting about their bodies and making unwelcome overtures, according to the Post .

Ottawa sending $19B to provinces for COVID-19 aid

July 17, 2020

The House of Commons finance committee is set to hear from Youth Minister Bardish Chagger and some senior public servants as it probes how WE got a sole-sourced contract to administer the $900-million program. Funding will also go to struggling municipalities to cover operational costs as well as for transit authorities. Funding will also support women and mothers, as well as for services for mental health, substance abuse and the homeless.

Apple wins appeal against €13bn European Union tax ruling

July 16, 2020

The Republic was ordered to recover the illegal aid plus interest. In another case, the court also threw out her ruling against a Belgian tax scheme for 39 multinationals. The ruling is a setback to the Commission's fight - led by Vestager - to reduce the practice of profit shifting whereby multinational companies shift profits from a high tax jurisdiction to a lower one.

New York Times says moving some Hong Kong staff over security law

July 16, 2020

The recent primary election had a reported turnout of 600,000 voters, which will select representatives from five different regions to run for Hong Kong's Legislation Council on September 6, according to the Hong Kong Free Press . Consulate on Thursday demanding the United States "stop interfering in Chinese internal affairs". The impact of the new powers detailed in the United States law and Trump's executive order remains to be seen.

Unemployment rate rose to 7.4% in June

July 16, 2020

Australia's jobless rate edged up even though employment surged by a record in June, as more people searched for work encouraged by the re-opening of the economy from the coronavirus lockdown. The territories had jobless rates well below the national average with the Northern Territory on 5.7 per cent and teh Australian Capital Territory on 5.1 per cent.

Merged FCA-PSA group to be called Stellantis

July 16, 2020

STELLANTIS will combine the scale of a truly global business with an exceptional breadth and depth of talent, knowhow and resource capable of providing the sustainable mobility solutions for the coming decades. Stellantis will be used exclusively at a corporate level. The companies expect to complete the 50-50 merger in the first quarter next year, subject to board and regulatory approvals.

U.S. hails results from coronavirus vaccine trial

July 16, 2020

Russian news agency TASS on Sunday announced Russian researchers have completed clinical trials on a vaccine, though they have not shared their data. So far, the coronavirus has infected more than 13.2 million people and killed 570,000 people worldwide. Moderna had previously published "interim results" from the first stages of its trial, called Phase 1, in a press release on its website in May.

India, EU ink civil nuclear pact

July 16, 2020

The Summit was to have been originally held in the Belgian Capital Brussels in March this year but was postponed due to the Covid pandemic. It may also be recalled that in February this year, External Affairs Minister (EAM) S. Both agreed to further collaborate in research and innovation based on the principles of mutual benefit and reciprocity, as established in the India-EU Agreement on Science and Technology concluded in 2001, which expired on May 17.

Gold Prices Surge To Near Record Highs, Silver Follows The Uptrend

July 16, 2020

Silver dropped 0.3% to $19.02 per ounce, after hitting its highest since September 2019 on Monday. Gold is still directionless as market players counter hopes of economic recovery and continuing stimulus measures against rising virus cases and deepening US-China tensions.

FCA to get a new name after merger with Peugeot

July 16, 2020

After their split in 2007, Cerberus Capital Management renamed the US carmaker Chrysler LLC. More meaningful matters to overcome include finalizing terms that have irked some PSA investors - namely, a planned dividend to be paid out to Fiat Chrysler shareholders - and getting through a European Commission antitrust probe.

Moderna vaccine induced antibodies in all trial participants: paper

July 15, 2020

These include chills, headache, muscle pain, and mild to moderate fatigue. Russian scientists hailed the results of their first clinical trial of a potential coronavirus vaccine on Wednesday, saying it had been proved safe and that volunteers had developed an immune response.

Ivanka Trump's social media posts about Goya beans provoke ethics backlash

July 15, 2020

In an interview with Fox News last week, Conway decried the Goya Foods controversy. But yesterday evening she managed to do both with one photo in a truly weird tweet that was probably also a violation of federal law! An employee shall not use his public office for his own private gain, for the endorsement of any product, service or enterprise, or for the private gain of friends, relatives, or persons with whom the employee is affiliated in a nongovernmental capacity.

Asian markets set to shake off coronavirus spread, US-China tensions

July 15, 2020

Demand for riskier assets is likely to take a hit after California, the most populous USA state, placed new restrictions on businesses as coronavirus cases and hospitalizations soared. Asia ex-Japan index and Shanghai index down 1%. The news follows an announcement from Pfizer and BioNTech that two of four candidates for treatment had received "Fast Track" designation from United States officials.

China's June exports rise as economies reopen

July 15, 2020

The trade surplus shrank from a record-high in May to US$46.4 billion last month. June's natural gas imports, both piped and liquefied natural gas (LNG), were 8.33 million tonnes, up about 11% from a year earlier. ING China economist Iris Pang told AFP agricultural purchases boosted imports and that the push could continue if floods ravaging much of central China persist, threatening food supplies.

Chinese imports and exports jump past forecasts in June

July 15, 2020

China's imports in June rose for the first time since the coronavirus crisis paralysed the economy this year, as demand for commodities surged on the back of government stimulus, while exports also rose in a sign the recovery is gaining traction.

Ford Brings Back Its Beloved Bronco 4X4 with 2021 Version

July 15, 2020

Transmission options will include a new 7-speed manual with a crawler gear (standard only on 4-cylinder models) and a 10-speed automatic. The Bronco arrival coincides with Ford being the most popular name on Robinhood in terms of the number of accounts holding the stock.

United States banks set aside billions as buffer against bad loans

July 15, 2020

By the numbers: At JPMorgan, the country's biggest bank, profits fell 51% from a year earlier - to $4.7 billion - dragged down by what it set aside to cover future loan losses. Wells Fargo Chief Executive Charlie Scharf said the bank is "extremely disappointed" in the decision, but said, "Our view of the length and severity of the economic downturn has deteriorated considerably from the assumptions used last quarter".

Coins: The latest pandemic shortage

July 15, 2020

The grocery store will offer two options: apply the change to your loyalty card to use on your next purchase, or donate to the "Round-Up" program, which contributes to the grocery chain's "Zero Hunger/Zero Waste" foundation. Contactless payments allow people to pay with a phone, debit or credit card, Crilly said, so cashiers were not taking in physical cash or coins. Some may have noticed the coin shortage while out shopping.

Ireland and Apple win appeal against EU's €13bn tax ruling

July 15, 2020

It follows a record ruling by the European Commission against the United States tech giant in 2016. The Commission had ruled that tax deals struck by Apple and other companies with countries such as Ireland, the Netherlands and Luxembourg constitute illegal state aid, a violation of European Union regulations.

Lockdown computer gaming helps fuel United Kingdom inflation rise

July 15, 2020

However, in April, it had revised the CPI data for the month of March to 5.84 per cent from 5.91 per cent . The official release by the Ministry of Statistics also mentioned that to address the non-availability of data for several sub-groups during April and May, 2020, the National Statistical Office (NSO) undertook a separate exercise based on the imputation methodology recommended in "Business Continuity Guidelines".

How major United States stock indexes fared Monday

July 14, 2020

Besides, referring to the withering worries over a havoc-scale layoff wave in the USA economy after a majority of densely populated U.S. states had begun to disobey the Government's order to reopen the states, a chief market strategist at JonesTrading in Stamford, Connecticut, Michael O'Rourke said on Monday's market closing bell, " The rally's been driven by a handful of names ".

USA executes killer Daniel Lewis Lee after Supreme Court ruling

July 14, 2020

The federal government carried out its first execution in 17 years on Tuesday, putting killer Daniel Lewis Lee to death at a facility in IN after a rare early morning decision by the U.S. In a statement posted to Twitter, Baker Kurrus, the lawyers for the victims' family said they planned to appeal the decision to the Supreme Court, and that the government had put them in the "untenable position of choosing between their right to witness Danny Lee's execution and their own health and ...

NY to require tracking info from travelers

July 14, 2020

Failure to comply will result in a $2,000 summons. "New Yorkers showed incredible courage and resiliency throughout this pandemic, and nowhere is their work more evident than in the numbers we release every day, including in New York City, once a global hotspot", Cuomo said Tuesday.

Krispy Kreme celebrates 83rd birthday by giving away free glazed doughnuts

July 14, 2020

Did you spend your birthday in lockdown? Krispy Kreme will be handing out free boxes containing their Original Glazed dozen to birthday boys and girls. The offer is available all week, with a minimum purchase value of £1.55, so from today (13 July) until 19 July, all you have to do is show a member of Krispy Kreme staff that your birthday lands between the above dates.

Explained: Why Russian Covid-19 vaccine is far from ready

July 14, 2020

The university began clinical trials of the vaccine produced by Russia's Gamalei Institute of Epidemiology and Microbiology on June 18, 2020, stated Sputnik News . "Efficiency and immunogenicity (generation of immune response)" is tested in phase two of trials. This is the stage researchers try to determine whether the vaccine is causing the desired immune response, along with figuring out the suitable dose for such a response.

Ford Bronco Revealed, Jeep Wrangler Beware!

July 14, 2020

There were a lot of dubious responses when the Jeep Wrangler Rubicon 392 Concept on the same day as the unveiling of the new Ford Bronco . Ford has brought back the iconic Bronco brand with the launch of a new range of SUVs in the U.S.

NYS COVID-19 hospitalizations, three-day average death toll lowest since March

July 13, 2020

Failure to provide contact information could result in a summons with a $2,000 fine and a hearing for a mandatory quarantine. New York, to date, has led the nation with 401,706 coronavirus cases and 32,350 deaths, according to statistics from Johns Hopkins University .

Boris Johnson Claims Some People Have 'Loved' Life In Lockdown

July 13, 2020

Face coverings are now compulsory on public transport and in hospitals in England, but are only advised in other enclosed public spaces where social distancing is not possible and where "you will come into contact with people you do not normally meet".

Analog Devices in advanced talks to buy Maxim

July 13, 2020

The acquisition of San Jose, California-based Maxim creates a larger rival for Texas Instruments Inc.in the market for analog and embedded processor chips, crucial components in the spread of computing and intelligence to everyday devices.

Pfizer COVID-19 vaccine candidates nab accelerated review status in U.S.

July 13, 2020

Early data from the German trial of BNT162b1 is expected to be released in July. The fast track comes after some initial USA results out earlier this month from an early clinical test of 45 patients that showed all of them who received 10 micrograms or 30 mcg of the mRNA vaccine candidate generated antibodies that were 1.8 times and 2.8 times higher, respectively, than the average of a group of patients who had confirmed prior infections, although it did come with side effects.

Tesla slashes Model Y SUV price by $3000 amid coronavirus pandemic

July 13, 2020

Tesla's mid-sized SUV, which is sold as a Long Range or Performance version - is now priced at $49,990, according to the carmaker's website. Later this year the Model Y small crossover will be joined by the Ford Mustang Mach-E , Volvo XC40 Recharge , and Volkswagen ID.4 .

Anthem Wrestling Received PPP Loan From The Government

July 13, 2020

Restaurants in Philadelphia, including in University City, have not fared well during the pandemic, as loans from both the PPP and Philadelphia's Small Business Relief Fund could not replace the sales they were receiving while students were on campus.

Starbucks requiring coronavirus face coverings at coffee shops

July 13, 2020

Until now, the company has just requested that masks be worn. The Seattle-based coffee chain is prioritizing the health and safety of its employees and customers, a spokesperson said, as more retailers grapple with how to stay in business and prevent the spread of COVID-19.

Krispy Kreme is giving away free doughnuts - here's how to get some

July 13, 2020

If it so happens you were born outside of the March to July period, fear not - as there's actually a consolation prize. Hopefully, on your birthday, you don't have to worry about anything besides eating lots of cake and ice cream, opening presents, and getting tons of adoring texts from people you don't hear from any other time of year.

Dunzo suffers data breach; users phone numbers, email IDs exposed

July 13, 2020

Dunzo also urged users to write to them directly at datasec@dunzo.in for any queries. Cybersecurity professional and co-founder of Lucideus Rahul Tyagi said third-party data breaches are one of the topmost concerns for organizations after human-related data breaches with leakage of user's personal information like email, username, mobile number etc.

OPEC readies next move in bid to avoid oil taper tantrum

July 13, 2020

Now Saudi Arabia and most participants in the coalition support a loosening of the curbs, the delegates said. Confidence in the current level of global oil prices will take hit from reports that Saudi Arabia wants to slash the 9.7 million barrels a day production cut due to expire at the end of the month.

Jio Platforms receives investments from four investors

July 13, 2020

Now, Interstellar Platform Holdings Pte Lte of L Catterton has paid ₹1,894.50 crore for a 0.39% stake in Jio Platforms. The company , controlled by Mukesh Ambani , the world's eighth richest person, has so far mobilised Rs 1.18 lakh crore by selling 25.24% in Jio to 11 worldwide investors, with the largest slice sold to Facebook.

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