Economy / 10

Nigeria's inflation hits 12.82%

August 19, 2020

On a month-on-month basis, the food sub-index increased by 1.52 per cent in July, up by 0.04 per cent points from 1.48 per cent recorded in June. It added, "On month-on-month basis, the headline index increased by 1.25 per cent in July 2020".

Greece, Cyprus seek tougher European Union stand on East Med dispute

August 19, 2020

Nicosia has called on the European Union to have a "more intense" presence in the eastern Mediterranean to deter Ankara's operations. On Friday, EU foreign affairs ministers already held discussions on the topic, as well as on tension between Turkey and Greece concerning the continental shelf rights at the Eastern Mediterranean.

S&P 500 completes recovery from COVID-19 sell-off, hits record high

August 19, 2020

As of Friday, 457 companies in the S&P 500 had reported results, of which 81.4% came in above dramatically lowered expectations, according to Refinitiv data. Technology, which has been the best performing sector through the pandemic, led declines among the 11 major S&P indices, while financials and industrials outperformed.

Oracle reportedly also interested in TikTok's U.S. business Oh my(SQL)!

August 19, 2020

Oracle is working with a group of US investors who already own a stake in ByteDance, including General Atlantic and Sequoia Capital. Serious interest from Oracle poses a potential threat to Microsoft's bid, which is now regarded as the frontrunner.

Walmart second-quarter net income up 24.8%; e-commerce sales up 97%

August 18, 2020

Walmart's second-quarter net income blew past analyst expectations with results fueled by a 97% increase in e-commerce sales and USA comp sales growth of 9.3%. Walmart said its food sales increased in the high single-digits with broad-based strength across most categories, while consumables sales were led by household chemicals and paper goods.

Elon Musk gains $8 billion to become world's fourth-richest person

August 18, 2020

Elon Musk's net worth soared past French luxury tycoon Bernard Arnault, the wealthiest non-American on the Bloomberg Billionaires Index . The Tesla stock pump on Monday alone boosted Musk's fortune by $7.8 billion; overall, Musk's fortune increased by $57.2 billion in 2020, according to Bloomberg's calculations.

Wall Street ticks up, nudges S&P 500 again to edge of record

August 18, 2020

In afternoon trading, the tech-heavy Nasdaq exceeded its August 7 intra-day record high. "Things that were 10 years away on February 18 are here now: distance learning, seeing your doctor via Zoom, ordering pharmaceuticals via the mail". The Nasdaq Composite was up 0.6% at 11,085.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. US equities eked out modest gains for the week ending Friday that saw the Dow advance 1.8 percent, the S&P 500 and the ...

Petrol prices continue to increase, while Diesel prices steady

August 18, 2020

Last August 10, oil firms increased the price of gasoline by P0.25 per liter but reduced the prices of diesel and kerosene by P0.20 per liter and P0.35 per, respectively. This brings the total year-to-date adjustments to stand at a net decrease of P4.77 per liter for gasoline, P8.79 per liter for diesel , and P13.04 per liter for kerosene, based on the Department of Energy's weekly monitoring.

Canadian Real Estate Association says home sales hit record high in July

August 18, 2020

The report states that month-over-month gains in home prices in the range of three per cent were recorded in the GTA in July, while the volume of sales within the area increased by 49.5 per cent. The Aggregate Composite MLS® Home Price Index (MLS® HPI) jumped by 2.3% m-o-m in July 2020 - the second largest increase on record (after March 2017) going back 15 years.

Dominic Raab slams 'fraudulent' Belarus presidential election

August 18, 2020

Lukashenko's statement comes after Russian Federation stated it was prepared to provide military assistance to Belarus in the event of an external threat. "I did not want to be a politician", said Svetlana Tikhanovskaya in a video statement from exile in Lithuania: "But fate decreed that I'd find myself on the frontline of a confrontation against arbitrary rule and injustice".

Yum Brands works out deal with bankrupt Pizza Hut franchisor

August 18, 2020

No date for closings or specific locations have been determined. NPC and Pizza Hut will endeavor to reallocate employee resources to thriving locations at NPC and other Yum! brands locations, wherever possible. There are now 76 Pizza Hut locations in New Jersey, but it is unknown if any will be impacted. Existing Pizza Hut customers will continue to be served through alternative, nearby locations throughout Pizza Hut’s 6,700 restaurants nationwide.

Jaguar Land Rover won't get a bailout from the UK

August 18, 2020

Tata Motors , however, has come out strongly against both. The report , citing anonymous officials briefed on the discussions, said the British treasury concluded that Tata Group had deep-enough pockets and did not qualify for taxpayer support under Project Birch, the United Kingdom government bailout package for companies hit by the covid pandemic.

Morrisons could ditch reusable plastic bags

August 17, 2020

If rolled out across all 494 stores it would mean the end of 90million plastic bags a year - the equivalent of 3,510 tons. Waitrose said it was organizing its have trial to get rid of bags for life later on this 12 months. The paper bags are described as a tough reusable alternatives for when customers forget to take their own reusable bags shopping. Four of the supermarkets selected for the trial are in Yorkshire, the rest are in Bristol, Abergavenny, Paisley and Cambridgeshire.

Samsung, Nokia May Follow Apple to Ramp Up Manufacturing in India

August 17, 2020

International Companies like Samsung Electronics Co., Hon Hai Precision Industry Co., known as Foxconn, Wistron Corp., and Pegatron Corp., Apple Inc.'s assembly partners are showing interest in investing in the country. Under this incentives program, the government plans to cover segments which may include automobiles, textiles, and food processing to increase the country's economic output.

United Kingdom housing market sees July flurry as Londoners move out

August 17, 2020

By comparison, £25bn worth of sales were made in July 2019. Average asking prices for August-based on data collected from July 12 to Aug. 8-were 4.6 percent higher than a year earlier as the normal summer softening in demand failed to materialize.

Yale's COVID-19 saliva test used in National Basketball Association gets FDA emergency approval

August 17, 2020

Because the test doesn't depend on any proprietary technology, it becomes substantially easier to use. Currently, a nasal swab has been the most accepted form of COVID-19 test, but it's costly and results can take days to be received. It was developed to rapidly expand SARS-CoV-2 testing in large numbers of people throughout the country. "Our experts are actually pleased to produce this addition to the battle versus coronavirus ", he claimed.

MSC Grandiosa sets sail, first Mediterranean cruise to do so amid pandemic

August 17, 2020

The cruise ship company MSC has made the procedures, for crew as well as passengers, part of its new health and safety protocols. As of June 11, 3,047 people were infected with coronavirus and 73 people died aboard 48 cruise ships affiliated with trade group Cruise Lines International Association (CLIA), according to Johns Hopkins University data provided by CLIA.

Sanofi announces $3.7bn deal to acquire US-based Principa Biopharma

August 17, 2020

Phase 3 development in the bleeding disease thrombocytopenia is expected to begin by the end of the year as long as COVID-19 does not impact on trials and there is also an ongoing phase 2 development programme in various other immune diseases.

Diageo to buy Aviation Gin and Davos Brands for up to $610m

August 17, 2020

The deal with Davos Brands LLC will expand Diageo's presence in the premium gin market, which has surged in popularity over the past decade. Diageo who own Tanquery will acquire Aviation Gin and its majority owner Davos Brands, who also own three other spirit brands, for an initial payment of £271m, and with up to an additional £210m depending on the brand's performance.

Trump orders ByteDance to divest TikTok's USA operations within 90 days

August 17, 2020

Seeking reelection, the 45th US president is the presumptive Republican presidential candidate. Other videos include Mr. Trump claiming that the Democratic presidential candidate Joe Biden "has no clue", and one mocking a gaffe Biden made in a previous interview.

German watchdog launches Amazon investigation

August 17, 2020

In Europe, the European Commission is expected to file charges against Amazon related to its relationships with third-party sellers. Mundt claimed there had been complaints about Amazon blocking certain traders, accusing them of price gouging following the coronavirus outbreak.

Turkey Twizzlers make a comeback, but not as we know them

August 17, 2020

Turkey farmer and food production company Bernard Matthews is now relaunching a version they say is "significantly healthier". The two flavours, Original Tangy Tomato and Chilli Cheese, score oranges and greens - not reds - on the traffic-light food labelling system.

Oil prices advance as China set to boost US crude imports

August 17, 2020

Already, a monthly record 32 million barrels of USA oil are set to reach China in August, according to Refinitiv Eikon data. "A loss of 1.178 million barrels at $43.24 per barrel amounted to $50,936,720 deficit", the New Telegraph data showed.

Thousands of CRA and government accounts disabled after cyberattack

August 17, 2020

Again, the feds say these accounts have been disabled. This hacking technique is called "credential stuffing". The Canada Revenue Agency website remains off limits after hackers gained access to thousands of accounts. But what is "credential stuffing"? The other attack saw more than 9,000 G-C-Keys accounts targeted. If money institutions, lodges, airlines or any position you have offered your details, get hacked, that particular details, this sort of as a username, an e mail handle and a ...

Facebook : Google goes public with rebuke on Australia antitrust law

August 17, 2020

United States tech giants Facebook and Google, among others, are subject to an 18-month-long investigation in Australia amid an inquiry on their impacts on journalism and social media advertising, according to media reports. Specifically, Silva's claim about "unfair advantage" refers to a portion of the proposed rule that says digital platforms would be required to notify news media businesses in advance about changes to algorithms controlling the ranking of content in search results.

U.S. restricts China's Confucius Institute

August 17, 2020

In addition, there are institutes on 65 US campuses. Confucius Institutes are clearly sponsored by Beijing: Confucius Institutes (CIs) are organizations primarily located on USA college and university campuses that push out skewed Chinese language and cultural training for US students as part of Beijing's multifaceted propaganda efforts.

Nancy Pelosi calls on House to return for post office bill vote

August 17, 2020

With heightened scrutiny of its operations, the Postal Service is now requesting a temporary preelection rate increase, from mid-October through Christmas, although not for first-class letters. Bernie Sanders, I-Vt. The removal of the boxes came at a hard time for the U.S. Postal Service in New Jersey, as postal officials warned they can't guarantee all mail-in ballots will be delivered in time to be counted during this November's mail-in election.

Reach of influence: Canada probes Amazon over 'potential abuse of dominance'

August 17, 2020

Canada's competition regulator is looking into Amazon.com Inc. over concerns the e-shopping giant's practices hurt local companies and consumers. Whilst Amazon sells tens of millions of products by itself, it also functions as a conduit for profits of solutions from other companies that Amazon won't have in inventory, in exchange for a slice of every single sale in the course of action.

USA retail sales slow in July, expected to decline further

August 17, 2020

Republicans and Democrats are bickering over new aid for the economy even as signs mount that activity is stalling. Food and beverage store sales were up 11.1% from past year. Consumers pulled back on big-ticket items like cars, building materials and sporting goods in July, but spent more on food, gasoline, and health and beauty products, the Commerce Department said.

Baidu second-quarter results beat estimates, but overshadowed by iQIYI probe

August 17, 2020

Wolfpack Research alleged iQiyi inflated its 2019 revenue by approximately eight billion yuan ($1.13 billion U.S.) to 13 billion yuan ($1.98 billion U.S.) - or between 27% to 44%. "Nevertheless, with our abundant copyrights, excellent content and powerful technology, the company has further consolidated its market leadership". It forecast third-quarter revenue of 26.3 billion yuan to 28.7 billion yuan, in line with estimates and which compares with 28.0 billion yuan for the same quarter a ...

Record-breaking heat forces more power outages in California

August 17, 2020

Pacific Gas and Electric (PG&E) states they have actually brought back power to the majority of customers impacted by the failures impacting roughly 220,000 customers on Saturday night. This most recent series of rolling blackouts was observed across Northern California when IOS began shutting off power to large segments of PG&E customers for up to an hour at a time.

Warren Buffett Stocks to Buy and Hold Forever

August 17, 2020

Buffett focused on investing in numerous other aspects of the traditional financial scene, including substantial investments in the banking sector. Warren Buffett's Berkshire Hathaway Inc BRKa.N said on Friday it has sold shares of some of the largest USA banks, slashing its stakes in Wells Fargo & Co WFC .N and JPMorgan Chase & Co JPM .N and exiting an investment in Goldman Sachs Group Inc GS.N .

Winning lotto ticket worth 7.3 million euro sold in Galway

August 17, 2020

This is the eighth jackpot win so far this year, and the 96th Lotto jackpot to be won in Co Galway since the game began in 1988. A Lotto spokesperson told NZME the ticket was sold to a "very deserving family". In Arkansas, there was one Match 4 + Powerball ticket sold, worth $50,000. If there is no jackpot victor, the top prize will grow larger for the next drawing.

S&P 500 muted as stimulus deal remains elusive

August 17, 2020

Data on Friday showed US retail sales increased less than expected last month and could slow further due to spiraling COVID-19 cases and a reduction in unemployment benefit checks. Stocks waffled around the flatline for most of the session as the S&P 500 failed once again to reach its all-time high . Shares of German biotechnology firm CureVac BV almost tripled in their NASDAQ debut, marking the first stock market debut of a company developing a potential vaccine for the novel coronavirus.

Over 5,000 CRA accounts the target of a recent cyberattack

August 16, 2020

She says whoever changed her direct deposit information changed it throughout her account, meaning any money she would be getting from the federal government would then be going into a mystery account. The passwords and usernames of 9,041 GCKey account holders "were acquired fraudulently and used to try and access government services", the authorities said.

Face masks with vents, valves don't prevent spread of coronavirus — CDC

August 16, 2020

American Airlines is the latest major carrier to ban face masks with one-way valves or vents, following similar mandates from airlines including United, Delta and JetBlue. American says that face coverings can only be briefly removed while the customer is eating or drinking. It's not the first time these masks have been called into question.

100 more people ill from Salmonella after eating U.S.-grown onions

August 16, 2020

British Columbia, Manitoba, and possibly other provinces and territories. Consumers should not consume the recalled products described below. Retailers, distributors, producers, and meals service institutions comparable to lodges, eating places, cafeterias, hospitals, and nursing houses shouldn't serve, use, or promote the recalled merchandise described under.

PG&E restores power after initiating rotating outages that impacted approximately 220000 Saturday

August 16, 2020

During this emergency, if system conditions do not improve, the ISO would declare a Stage 3, which will lead to rotating power outages. Just two hours earlier, the ISO tweeted that it didn't anticipate having serious problems. The utility says it will not be able to give people advance warning. In all, the grid had to "shed" about 1,000 megawatts of demand to keep the entire system from failing.

'Rolling Blackouts' Return To California As Communities Lower Power During Record Heatwave

August 16, 2020

California Independent System Operator (ISO) has declared a Stage 2 electrical emergency due to excessive heat driving up electricity use and putting a strain on the State's electrical grid. Last year, PG&E's power shut-offs hit hundreds of thousands of homes and workplaces in northern California and were condemned by customers as well as authorities for being too widespread, with insufficient communication.

BMW M3 Touring confirmed

August 16, 2020

Whether the M3 Touring ever reaches South Africa remains to be seen, but given this market's distaste for wagons, we wouldn't bet any money on it coming. BMW says we can expect M-specific interplay of racing-oriented performance and everyday suitability to the extreme. BMW has yet to reveal many technical details of the M3 estate but has confirmed it will use its turbocharged six-cylinder petrol M engine.

China to launch digital currency pilot programme in some cities

August 16, 2020

Screenshots of the new currency's wallet app, made by Agricultural Bank of China Ltd., have circulated widely online, showing a variety of functions, including allowing savers to track transactions of the new currency and link the wallet to their existing bank accounts.

Public health alert: More onions recalled Canada-wide due to Salmonella

August 15, 2020

There have been 120 confirmed cases linked to the outbreak in Canada so far, including one in P.E.I. Now, CIFA has updated its list of recalled products to include red, yellow, white, and sweet yellow onions by Thomson International Inc .

Britain To Step Up Challenge Over U.S. Whiskey Tariff

August 15, 2020

The tariff on shortbread has been lifted. And in a "modest" easing of the tariffs, Mr Lighthizer said products such as shortbread would now be exempted as the two sides continue to seek a resolution to a dispute centred on planemaker Airbus .

California tells truckers to ditch ‘dirty diesel’ in groundbreaking zero-emission mandate

August 15, 2020

They travel a lot more miles than passenger vehicles and often have diesel engines, which tend to be more powerful but produce more pollution than gasoline engines. Environmental advocates also say the new standard could have public health benefits. "According to the Diesel Technology Forum's analysis of 2018-2019 US vehicles in operation data (Class 3-8) provided by IHS Markit, 43 percent of the almost 11 million diesel-powered commercial vehicles on USA roads - from box delivery trucks ...

Mercedes-Benz goes big on S-class interiors, introduces re-designed dashboard

August 15, 2020

Dirk Fetzer, head of S-Class product management, added: "Luxury today is defined by comprehensive refinement". The German vehicle maker wants the new S-Class to be considered a "third place" between home and work through a technology called Energising Comfort.

First Of Four Bronco Off-Roadeo Locations Revealed As Austin, Texas

August 15, 2020

The final concept is the Bronco Sport Off-Roadeo Adventure Patrol, which was designed for Bronco Off-Roadeo customer events that will be held around the country, starting with Austin, Texas, next summer. The lavishly decorated Bronco Sport Badlands concept will provide on-ground support at the Off-Roadeo events, carrying around recovery gear like a high-lift jack, with recovery boards and jerry cans on its Yakima LockNLoad roof rack.

France and The Netherlands added to United Kingdom arrivals quarantine list

August 15, 2020

The Foreign and Commonwealth Office (FCO) has also updated its website, to advise against all but essential travel to the destinations list above. The British Embassy in Paris cites France's rising number of coronavirus cases as the reason.

$168.5 Million POWERBALL Jackpot Ticket Sold In Florida

August 15, 2020

The Rolling Cash 5 jackpot for the next drawing is $206,000 for hitting all five numbers and the odds of winning are 1-in-575,757. If the jackpot is won by one person, it will be largest prize ever won in Lotto New Zealand's history, Marie Winfield, Head of Communications and Corporate Social Responsibility at Lotto NZ, said.

Hospitality 'worst hit' as United Kingdom plunges into recession

August 15, 2020

The UK's nosedive into recession - as defined by two quarters in a row of falling output - marks the first since the 2008 financial crisis, with the eye-watering second-quarter plunge following a 2.2% fall in the previous three months. The ONS's initial second-quarter estimate shows the economy was hit across the board as the lockdown wrought havoc, with the services sector - which accounts for over three-quarters of United Kingdom output - dropping 19.9%, the construction sector falling ...

Australian jobs surge in July, unemployment lower than expected By Reuters

August 15, 2020

A worker disinfects a bench at Westmead Hospital amidst the spread of the coronavirus disease (COVID-19) in Sydney, Australia, May 12, 2020. Canberra, Aug 13 (IANS) The number of unemployed Australians actively looking for work has surpassed 1 million for the first time in the last 22 years, official data revealed on Thursday.

Information