Economy / 14

United States stocks end mixed amid earnings

July 23, 2020

China said it would retaliate. -China tensions to focus on a coronavirus vaccine candidate agreement. Futures tied to the S&P 500 ticked down 0.3%. Small company stocks were faring better than the rest of the market. Health care stocks received a boost from a jump in shares of Pfizer (NYSE:) and Biontech (NASDAQ:) - which are jointly developing a potential coronavirus vaccine - having secured a $1.95 billion deal from the US government for 100 million doses of their potential coronavirus drug.

USA orders closure of China's consulate in Houston

July 23, 2020

The U.S. order was a sharp escalation of tensions between the United States, the world's biggest economy, and No. 2 China . Wang warned that China would answer if United States policy did not change. Several top Trump cabinet aides, including Secretary of State Mike Pompeo and Attorney General Bill Barr, have made strong anti-China speeches in recent times, ostensibly taking a cue from President Trump.

Gold futures hit all-time high of Rs 50,000, dampens the retail demand

July 23, 2020

Gold prices in the national capital hit a new record high rising Rs 430 to Rs 50,920 per 10 gram on Wednesday, reflecting gains in the worldwide prices of the precious metal , according to HDFC Securities. "Gold has rallied to record high levels reflecting firmness in the global market, where prices have been on a rise for the last few months but picked up pace amid sharp losses in the dollar, additional stimulus measures and robust investor inflows.

China strongly condemns US requirement to close Chinese consulate in Houston

July 23, 2020

While Trump has often praised Chinese President Xi Jinping, tensions between the two countries have increased in the midst of the pandemic and China's security crackdown on protests in Hong Kong, which the USA and its Western allies have deplored.

Stocks Climb to Five-Month High; Dollar Slumps: Markets Wrap

July 23, 2020

Meanwhile, sterling fell versus the dollar and euro, driven by a report in the Financial Times that the British government has abandoned hopes of clinching a free-trade deal with the United States by the end of the year. Positive studies provided a much-needed shot in the arm for investors, who have been put on edge in recent weeks by worrying spikes in new infections around the world, causing a months-long surge across equities to stumble.

LinkedIn cutting 960 jobs globally as pandemic hits hiring

July 23, 2020

Roslansky also cited Covid-19's impact on hiring, again noting that certain roles within its global sales and global talent organizations are no longer needed due to lower demand for both internal hiring and talent products globally. Roslansky said some roles in its global sales organization are no longer needed as LinkedIn evolves the ways that it works with talent media customers and small businesses, adding that the company will unify its now separate talent media businesses within ...

Statistics Canada set to give reading on inflation for June

July 23, 2020

Meanwhile, the Bank of Canada said the core CPI, which excludes volatile food and energy prices, was 1.1% on a yearly basis, and 0.4%, on a monthly basis. The Canadian dollar has benefited from the recent recovery in the price of oil, one of Canada's major exports, and a broad weakness in the US dollar.

Australian dollar climbs to 15-month high, as Nasdaq technology stocks decline

July 22, 2020

A the time of writing, the ASX 200 Index is trading down 1% at 6-95, falling from a high of 6156. A surge in commodity prices have boosted the Australian dollar , while optimism about a coronavirus vaccine have reduced the greenback's safe-harbour appeal.

Stimulus negotiations: Republican venting session shows just how deep GOP rifts go

July 22, 2020

According to The Hill , Senate Majority Leader Mitch McConnell, who is a Republican from Kentucky, said Tuesday that his chamber will start discussing another coronavirus economic relief package, and added that it will include a second stimulus payment for eligible citizens.

NHS nurse berates Boris Johnson and Rishi Sunak for pay rise exclusions

July 22, 2020

The Police force are getting a pay rise. Police and Crime minister Kit Malthouse told talkRADIO's Alastair Stewart: "This year the Chancellor's chose to accept [the recommendations] and part of his motivation beyond those factors is a recognition that we do owe a debt of gratitude to these public sector workers for the work they've done during this very hard crisis".

Congress and White House At Odds Over Pandemic Aid Bill

July 22, 2020

However, advocates in the administration believe the payroll tax would jolt the economy quickly. McEnany said the White House would support funding for "targeted testing", an apparent shift from the weekend, when the administration had balked at providing additional money for testing and contact tracking.

Thousands of Workers Strike, Protest Economic Racism in Cities Across US

July 22, 2020

For workers unable to strike for the full day, they picketed during a lunch break, took a knee , or held a moment of silence for 8 minutes and 46 seconds in memory of George Floyd and other victims of police violence. Workers in Oakland, California, rallied in solidarity with the Black Lives Matter movement on July 20 by marching to a McDonald's restaurant where staff had been on strike since May .

Australian music industry welcomes JobKeeper extension

July 22, 2020

The changes follow Federal Treasury's midway review of the JobKeeper scheme. The amount will drop to $1000 from 4 January until 28 March 2021. She said that cancelling the $1,500 fortnightly JobKeeper wage subsidy in September would have resulted in up to 10,000 businesses on the Central Coast being forced to close their doors, about 37,000 local workers being forced into unemployment and removing up to $56M out of the local economy every fortnight.

Jeff Bezos sets new record in his net worth

July 22, 2020

Amazon's shares are now up 73 per cent this year. The e-commerce company's shares surged after a Goldman Sachs analyst upgraded the price target at the stock to $3,800 per share. Seven of the ten richest people on the planet owe their wealth to the sector, including Elon Musk, whose fortune has soared US$47 billion so far in 2020.

Amazon urged to bring global insights to help Indian sellers

July 22, 2020

Amit Agarwal , senior VP and country head, Amazon India , said, MSMEs are the backbone of the Indian economy and by digitising them, the company is contributing towards boosting exports and job creation that will empower inclusive economic growth of the country.

Walmart to close Thanksgiving Day 2020

July 22, 2020

From the company statement, however, it sounds as if this could be just a one-year thing, with Thanksgiving Day shopping possibly back in 2021, when the coronavirus will - hopefully - be under control. In a memo to store associates on Tuesday seen by Yahoo Finance, the nation's largest retailer and biggest employer said it was considering ways to compensate for a holiday shopping season that will be "different", as the COVID-19 outbreak dramatically reshapes public life.

‘Only a matter of time’ until gold hits new record high - Citigroup

July 22, 2020

EDT, having touched the $1,840/oz mark earlier in the session. USA gold futures rose 0.5% to US$1,825.50. Gold futures for August delivery rose 1.5 per cent to settle at US$1,843.90 an ounce at 1:30 p.m. Gold tends to benefit from widespread stimulus as the metal is widely viewed as a hedge against rising prices and currency debasement. "Nominal gold prices have already posted fresh records in every other G10 and major emerging market currency this year", the analysts said, as quoted by ...

European Stocks Rally After EU Reaches Deal on Recovery Fund

July 22, 2020

The euro hit a high of $1.1467 and was last down 0.1% at $1.1412. Immediate resistance can be seen at 1.2721 (Higher BB), an upside break can trigger rise towards 1.2800 (Psychological level).On the downside, immediate support is seen at 1.2651 (Daily low), a break below could take the pair towards 1.2602 (38.2 % fib).

Schumer: Democrats Should Unify Against GOP Virus Stimulus Package

July 21, 2020

Meanwhile, Treasury Secretary Steven Mnuchin this week said the administration is "focused on starting with another trillion dollars". "Senate Republicans will put forward our proposal soon, I hope our Democratic colleagues will be ready to work together", said Senate Majority Leader Mitch McConnell, who hopes to unveil the proposal this week.

US FDA issues first EUA for COVID-19 pool testing

July 21, 2020

This is the first coronavirus diagnostic test in the United States to be authorized for use with pooled samples, the agency said in a statement. This will allow Quest to test up to four specimens at the same time, which will free up testing kits to use on more residents.

Tense talks in European Union summit on corona recovery budget

July 21, 2020

Summit chairman Charles Michel tweeted " Deal " shortly after the 27 leaders reached agreement at a 5.15 a.m. (0315 GMT) plenary session. An attempt to reach a compromise failed on Sunday. Warsaw and Budapest have drawn the ire of Brussels over the past couple of years and been condemned by the European Court of Justice over what is seen as attacks on the independence of the judiciary, media freedom and the treatment of asylum seekers in Hungary.

JobKeeper Payment and income support extended

July 21, 2020

Jobkeeper, which was due to expire on 27 September, will now be extended until 28 March 2021. From the end of September, the fortnightly payment for full-time workers (we'll get to part-time in a moment) is decreasing from $1,500 to $1,200.

Oil prices fall as COVID-19 infections rise

July 21, 2020

The more-active September futures added 1 cent to $40.76 a barrel. "And even though in Europe the virus has been cornered, the Americas and some Asian states have still a long way to go", Rystad Energy's head of oil markets Bjornar Tonhaugen, said .

Settlement in Vote-By-Mail Lawsuit Calls on Supervisors to 'Maximize' Convenience

July 21, 2020

The group is appealing a decision that requires absentee ballots be received by local clerks by Election Day. Drop box locations may be found at VoteWA.gov . "It doesn't matter when it's postmarked", said Debra O'Malley, a spokesperson for Secretary of State William Galvin. Elections Manager Mike McLaughlin said the county mailed slightly more than 335,000 ballots for the primary.

Euro hovers near 4-month peak as market looks to European Union summit

July 20, 2020

While the outcome of the negotiations is still up in the air early Monday, most market players agree that an agreement or a collapse in the talks would have a major impact on the single currency when trading resumes. More than 14 million people have been infected by the novel coronavirus globally and almost 602,000 have died, according to a Reuters tally. South Korea's pared gains to fall 0.1%.

U.S. stocks end mixed amid earnings, coronavirus concerns

July 20, 2020

More than 3.67 million confirmed COVID-19 cases have been reported in the United States, with over 139,000 deaths, as of Saturday afternoon, showed a tally by Johns Hopkins University. However, the United States has failed to control the coronavirus and there is a high level of uncertainty over how much the pandemic will affect the economy, Philadelphia Federal Reserve Bank President Patrick Harker said, as a number of US sunbelt states reported a surge in COVID-19 cases recently.

Ebay nears deal to sell classified-ads unit to Norway's Adventia

July 20, 2020

The latter firm has argued that eBay's other businesses had become too much of a distraction. The unit raked in about $1 billion in revenue previous year, compared with about $8.6 billion for eBay's core marketplace where merchants list and sell products, according to the company's latest annual report.

Ellen DeGeneres's producers answer to allegations of work location remaining 'toxic'

July 20, 2020

The on-air positivity shared by Ellen DeGeneres on her talk show does not transfer to the staff behind the scenes, according to interviews conducted by Buzzfeed News in which former employees discuss the " toxic work environment " on set.

Kohl's, CVS, Target the latest businesses to require face masks for customers

July 20, 2020

Kroger says that small children are exempt from this regulation, and urge those unable to wear masks to consider face shields or the company's now free grocery pickup option. Kroger , Kohl's , Best Buy and now Publix have all joined the chorus of large retailers soon to require customers to wear masks in their stores.

Dramatically cuts Facebook advertising: the latest setback for the social network

July 20, 2020

The Journal, citing unnamed sources familiar with the matter, said the time frame for Disney's pullback was not clear. As reported by the Wall Street Journal , Disney has joined the likes of Microsoft, Starbucks and Coca-Cola in pulling ads from Facebook's main social media platform and Instagram.

Newspaper: EU leaders undecided on rescue plan

July 20, 2020

So I will join in working for it. The pandemic, which has spawned health and economic mayhem worldwide, also resulted in the G20 considering extending debt relief for coronavirus-hit poor countries in the second half of this year. Mrs Merkel and French President Emmanuel Macron walked out of heated talks late on Saturday, with a group of nations led by the Netherlands pushing to limit the amount of grants given to countries whose economies have been hardest hit by the virus and to impose ...

KFC Expands Vegan Beyond Fried Chicken to Southern California

July 20, 2020

Moscow-based 3D Bioprinting Solutions has developed what it is calling "additive bioprinting technology" using chicken cells and plant material that is says will reproduce the taste and texture of chicken meat without involving animals in the process.

33-Year-Old Tech CEO Found Dismembered In New York Condo

July 20, 2020

Saleh was the chief executive of a ride-hailing motorcycle startup, Gokada, which began operating in Nigeria in 2018. "We don't have a motive", Police Spokesman, Carlos Nieves told the Daily News . They are from time to time referring to security cameras showing Saleh in the apartment elevator with a man wearing a dark suit, gloves, and mask, the reports revealed.

European Union leaders undecided on rescue plan - Newspaper

July 20, 2020

The Dutch want member states to have a say over national bailouts to ensure countries carry out labour market reforms, while Austria, Finland, Denmark and Sweden want to see the up to 750-billion-euro package of loans and subsidies cut down.

Netflix forecasts weaker subscriber growth

July 19, 2020

And even when Netflix loses subscribers, some still return after some time, pointing to the stickiness of its content. Netflix is additionally recording impressive subscriber growth outside the US and Europe, where the market is not saturated.

National Ice Cream Day: Fun facts about everyone's favorite frozen treat

July 19, 2020

Sav's daughter, Diaka Savane, is helping spearhead the fundraiser. The third Sunday of this month, which this year falls on July 21, became officially referred to as National Ice Cream Day. 5219 , to be actual - describes "a wholesome and wholesome foodstuff, appreciated by around 90 percent of the people today in the United States". Despite the fact that we are unable to vouch for his stats, it does sound really accurate.

India to store crude oil in US

July 19, 2020

The State Department said that the MoU on Strategic Petroleum Reserve will ensure a consistent energy supply, protects national security, and promote regional and global stability. "Though it is producing its have storage capacities, it can now store 5.33 million tonnes (MMTs), or 39 million barrels of crude oil, in the 3 present caverns", a second official mentioned requesting anonymity.

EU Still Hunting Tax Dollars from American Tech Giants

July 19, 2020

The Irish government, which also appealed the 2016 order, insisted that Apple's treatment was always " in line with normal Irish taxation rules ". In August 2016, the European Commission said that the Irish government had been illegally favouring Apple, giving it advantages that it had not offered to other companies.

1,000 Florida Unemployment Workers Are Now Unemployed | 1290 WJNO

July 19, 2020

It also expires at the conclusion of 2020. With a 15.9% rate of insured employment California sits in the country's top 10, as Gov. Gavin Newsom ordered bars, restaurants and zoos to reclose in response to a surge in COVID-19 cases. The federal federal government shelled out a lot more than $80 billion in June to pay back for Congress' historic improvement to the nation's jobless plan, bringing the total expended to almost $171.5 billion this fiscal year, Treasury Office information exhibits.

Homeowners rush to refinance as 30-year rate falls below 3%

July 19, 2020

The average 30-year fixed-rate mortgage was reported at 2.98 percent, down from 3.03 percent last week. 5-yr Treasury-indexed hybrid adjustable-rate mortgages rose to an average of 3.06% with an average 0.3 pt, from 3.02% in the prior wk.

HDFC Bank Q1 Profit Rises by 20% to Rs 6,659 Crore

July 19, 2020

The country's largest private sector lender also warned of higher defaults because of the Covid-19 crisis leading to more provisions in the period ahead. Net interest income (interest earned less interest expended) grew by 17.8% to ₹15,665.4 crore from ₹13,294.3 crore year on year, driven by growth in advances of 20.9%, and a growth in deposits of 24.6%.

Morgan Stanley profit jumps 45% on trading boom

July 19, 2020

Morgan Stanley Chief Executive Officer James Gorman cautioned that the bank's record-setting numbers would be hard to repeat in the coming quarters. "They've brought in billions of pounds of web new belongings and deposits, and their platform has remained quite steady".

NBS: China's Q2 GDP rises 3.2%, H1 down 1

July 19, 2020

China's economy returned to modest growth in the second quarter of 2020 and reverted from the first contraction on record in the first quarter this year, as COVID-19 eases and policymakers announced economic packages, according to the press release of the Embassy of People's Republic of China.

Audi India launches Audi RS 7 Sportback priced at ₹1.94 crore

July 19, 2020

The latest generation is expected to be no different. Bookings for this vehicle were started by the company shortly before and its delivery is scheduled to start from August 2020 next month. It comes with a 48-volt main onboard electrical system. The cylinder on Demand (COD) technology enhances the efficiency. Depending on traction, up to 70 per cent drive force can flow to the front wheels and up to 85 percent to the back wheels.

Musk defends Tesla Autopilot name after German court ruling

July 19, 2020

But Musk reckons the court got it wrong. In response to the ruling, Elon Musk expressed his frustration on Twitter, writing "Tesla Autopilot was literally named after the term used in aviation". "The information provided by the defendant at the end of the website does not remedy the misleading lack of clarity and transparency". However, the judgement is not yet in force, so the impact on Tesla remains unclear.

Instagram's Reels Feature In Its Trial Phase In India Post TikTok Ban

July 18, 2020

After creating Stories and disappearing messages like those on Snapchat, Instagram now takes on TikTok . Facebook is planning to bring its competitor to TikTok - called Reels - to Instagram users in the U.S. The new service may give Facebook , which has almost 3 billion users across its services, the chance to stem the rapid rise of a rival service. Lasso, it would seem, died so that Reels could live.

Cloudflare Service Outage Disrupts Internet; Problem Fixed

July 18, 2020

Internet Service Providers can also make these connections, and Google runs its own DNS resolver called 8.8.8.8. Many websites rely on Cloudflare to speed up their websites, prevent DDoS or DoS attacks, and many other benefits. A DNS, or Domain Name System, serves as the connective tissue between the domain name you use to locate a website (like Gizmodo.com) and its corresponding IP address, which determines the site's specific location on the web.

New Maserati Ghibli Hybrid begins brand's electrifed era

July 18, 2020

Equipped with 48-volt MHEV technology, capable of reducing fuel consumption and emissions, the new Maserati Ghibli Hybrid brings the total power to 330 horsepower. The new Maserati Ghibli Hybrid is also updated in aesthetics starting with the new grille, with blue details and the introduction of the new Evoluzione Gray colour scheme.

Updates due from Rio Tinto and DCC on Friday

July 18, 2020

At the time of writing, the Rio Tinto share price was up 0.36%, to $103.88 per share. Bauxite and iron ore output grew in the three months to June 30, though there was a double-digit fall in titanium dioxide slag production, figures from the miner showed.

Oil Prices Slip Amid Uncertainty over Fuel Demand Recovery

July 18, 2020

U.S. West Texas Intermediate (WTI) crude CLc1 fell 45 cents, or 1.1%, to settle at $40.75 a barrel. Both benchmarks rose 2% on Wednesday following a sharp drawdown in USA crude inventories . Global benchmark Brent crude was trading at $43.24 per barrel at 0605 GMT for a 0.3% loss after closing Thursday at $43.37 a barrel, trading at nearly a 1% daily loss.

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