Economy / 18

European Stocks Rise With U.S. Futures; Yuan Falls: Markets Wrap

October 13, 2020

The safe-haven Swiss franc was flat against the euro at 1.07630. "The economic fallout of COVID-19 has accelerated the relative decline of the U.S.as the world's economic engine", said ANZ chief economist Richard Yetsenga. A recovering economy, a hefty yield premium in sovereign debt over Treasuries and the prospect of a USA presidential victory by Democrat nominee Joe Biden are all providing tailwinds for a currency that earlier this year was near its lowest level since 2008.

China's CBDC will be distributed in Shenzhen as part of public trials

October 13, 2020

The currency retreated to 6.7320 per dollar, after closing on Friday at the strongest level since April 2019. The Bloomberg Commodity Index fell 0.2%.West Texas Intermediate crude fell 2.8% to $39.47 a barrel.Gold weakened 0.3% to $1,924.35 an ounce.

Stanford economists win Nobel prize for auction theory

October 12, 2020

Wilson's work led to the theory of a common value , which is the best estimate of what an item is worth that bidders then try to set their offers below to avoid overpaying. Using auction theory, it is possible to explain how these three factors govern the bidders' strategic behaviour and thus the auction's outcome. Last year, Indian-American economist Abhijit Banerjee and Esther Duflo, both of MIT, and Michael Kremer of Harvard were honored for more than 20 years of economic research to ...

Americans Milgrom, Wilson win Nobel Prize for economics

October 12, 2020

He said that his interest in auction theory dated back to the 1950s and that he thought the time for winning a Nobel Prize had already passed. Wilson, who was born in 1937 in Geneva, demonstrated why rational bidders tend to place bids below their own best estimate of the common value , because they're anxious about the so-called winner's curse , which describes the phenomenon of paying more than something's actually worth.

Two Stanford University professors win Nobel Prize for economics

October 12, 2020

Milgrom and Wilson (with help from Preston McAfee, now at Google) designed an auction format in which all the licenses were sold in one go. The economics prize concludes this year's list of Nobel awards. "I've never actively participated in an auction personally", he replied. Past year the prize went to French-American Esther Duflo, Indian-born Abhijit Banerjee of the U.S., and American Michael Kremer for their experimental work on alleviating poverty.

Americans Paul Milgrom, Robert Wilson win Nobel prize in economics

October 12, 2020

In practice, this was adopted by American authorities in 1994 as a method to sell radio frequencies to telecom operators. Before the 1990s, the US government essentially conducted "beauty contests" to hand out the frequencies, letting companies make their case for getting the licenses.

Germany's BioNTech signs deal with New Zealand for 1.5 million vaccine doses

October 12, 2020

BNT162b2 is an mRNA-based vaccine now in a Phase III trial at multiple sites globally. Two of these have entered phase -II trials after completing phase-I. The announcement by the British embassy in Bangkok did not specify how many doses of the vaccine candidate, AZD1222, would be distributed in Thailand.

China joins WHO-led COVAX for fair access to Covid-19 vaccines

October 12, 2020

The United States, for example, has booked 800 million doses through six developers. These vaccines will be delivered equally to all participating countries, proportional to their populations, initially prioritising healthcare workers then expanding to cover 20% of the population of participating countries.

China Joins Global Covid-19 Vaccine Scheme Shunned by US

October 12, 2020

To date, China has not yet published any late-stage information about any of its vaccine candidates, despite starting to use some more broadly in targeted populations. The initiative is designed so that richer countries agree to buy into potential vaccines and help finance access for poorer ones, but critical questions remain about how its goal will be carried out.

U.S. Economists Awarded Nobel Memorial Prize in Economic Sciences

October 12, 2020

Paul R. Milgrom , born 1948 in Detroit, USA. Both are academics at Stanford University in the US. Shirley and Leonard Ely Jr. Professor of Humanities and Sciences, Stanford University, USA. The youngest laureate to win the Nobel Prize in the Economic Sciences is Esther Duflo, who won the award at the age of 46 a year ago for her "experimental approach to alleviating global poverty".

Waymo driverless robotaxi service expanding in Phoenix

October 12, 2020

According to Waymo, 5-10% of its rides in 2020 have been fully driverless, working with a small group of users who have signed non-disclosure agreements to participate. "You can imagine we'd love the opportunity to bring the Waymo One driver to our home state of California", Krafcik said . Krafcik noted the company is sanitizing the vehicles regularly as well as requiring riders to wear masks at all times during their trip.

Waymo driverless robotaxi service expanding in Phoenix

October 12, 2020

According to Waymo, 5-10% of its rides in 2020 have been fully driverless, working with a small group of users who have signed non-disclosure agreements to participate. "You can imagine we'd love the opportunity to bring the Waymo One driver to our home state of California", Krafcik said . Krafcik noted the company is sanitizing the vehicles regularly as well as requiring riders to wear masks at all times during their trip.

Waymo begins full driverless public service in Phoenix

October 12, 2020

Barriers between the front row and rear passenger cabin for safety will be added to the cars later this year. The process of scaling the technology, Krafcik said, has been arduous. And over the next few weeks, the program will open up to even more passengers. Now, starting today, Waymo is really opening up to the public. Those who are lucky enough to have access to the app will now be able to ride in any of Waymo's 300-plus autonomous minivans.

Waymo begins full driverless public service in Phoenix

October 12, 2020

Barriers between the front row and rear passenger cabin for safety will be added to the cars later this year. The process of scaling the technology, Krafcik said, has been arduous. And over the next few weeks, the program will open up to even more passengers. Now, starting today, Waymo is really opening up to the public. Those who are lucky enough to have access to the app will now be able to ride in any of Waymo's 300-plus autonomous minivans.

Waymo Goes Public With Self-Driving Ride Service

October 12, 2020

Waymo's autonomous vehicles operate in a 100-square-mile area of Phoenix, but the fully driverless rides will take place in a 50-square-mile area in the suburbs of Chandler, Tempe, and Mesa. Still, offering rides to all customers is a huge advantage over its competitors. More importantly, in the context of a new-normal pandemic era, FCA had instrumented a technology that would clear the air of a minivan after every ride.

Waymo opens its fully driverless service to the public in Phoenix

October 12, 2020

Waymo said it cleans its vehicles multiple times throughout the day, in addition to temperature-screening its maintenance workers and regularly flushing the cars' cabin air through their climate control systems. But human safety drivers are not being retired completely just yet. At the moment, Waymo One only works within a 100-square-mile area in Phoenix.

Driverless Waymo rides available to public starting Thursday in Phoenix

October 12, 2020

There will also be no remote monitoring person who can take charge in emergency situations and drive the auto, and this type of tour will be conducted for several weeks, and then Waymo re-introduces the backup drivers behind the wheel of some cars so that the company can work to expand its service area.

India Inc welcomes govt stimulus to boost demand

October 12, 2020

LTC Cash Voucher Scheme The new LTC Cash Voucher Scheme divides the LTC fare component into three flat-rate slabs depending on the class on entitlement. This will be an interest-free advance and need to be repaid in 10 instalments. The bank charges for the issue of card will be borne by the government.

Microsoft to let employees work from home permanently

October 12, 2020

The media and technology giant introduced their " hybrid workplace " guidance internally, explaining to their employees that even once their US offices reopened, there would be more flexibility involved in terms of work plans. The option to work remotely for less than 50 percent of the work will still be available to the employees who fill those positions. Microsoft Corp.is going to permit some staff to work from home on a regular basis even after the pandemic fades, in another sign that ...

Government expand Job Support Scheme

October 12, 2020

Watch: What is the Chancellor's Job Support Scheme? That is being succeeded by the less generous Jobs Support Scheme, which will see the government pay up to 22pc of wages for workers who return to work from their furlough from Nov 1. Businesses forced to close will also be able claim cash grants of up to £3,000 a month to help with fixed costs. This is to protect their jobs over winter.

RBI keeps lending rates unchanged, how does it affect home, auto loans?

October 12, 2020

During this time, he has also given great information about the country's GDP growth. "By all indications, the deep contractions of Q1/2020-21 are behind us, silver linings are visible in flattening of the active case load curve across the country".

Trump holding campaign rally Monday in Florida

October 12, 2020

President Trump pointed out his administration is creating a strong economy and has even found treatments for the coronavirus , yet the media still isn't satisfied. "What they are, they failed for many years and many, many decades". In a Friday night interview on Fox's Tucker Carlson's show, Trump was asked if he has been retested for COVID-19.

Yelp to issue 'Business Accused of Racist Behavior' labels to warn consumers

October 12, 2020

On Thursday, Yelp announced that businesses accused of racist behavior will have a new consumer alert placed distinctly on their pages . Malik writes that the company's "new Business Accused of Racist Behavior Alert is an extension of our Public Attention Alert that we introduced in response to a rise in social activism surrounding the Black Lives Matter movement".

London Stock Exchange sells Italy's Borsa to Euronext in £3.9bn deal

October 12, 2020

Its share price was down 3% and LSE's up 0.4%. Irish Stock Exchange owner Euronext has sealed a deal to buy Milan's stock exchange, catapulting the group to European pre-eminence. "The Borsa Italiana Group will preserve its identity and integrity within Euronext's federal model, while benefiting from enhanced governance, best-in-class offering and technology, to better serve the Italian capital markets".

Morgan Stanley still shopping, buys Eaton Vance for $7B

October 12, 2020

Morgan Stanley are buying the investment management company Eaton Vance in a deal which has been valued at $7bn. He rose through the ranks as a portfolio manager and director of research and management. In addition, Eaton Vance common shareholders will receive a one-time special cash dividend of $4.25 per share to be paid pre-closing by Eaton Vance to Eaton Vance common shareholders from existing balance sheet resources.

Ram 700 based on the Fiat Strada officially revealed

October 12, 2020

Based on the Fiat Strada launched in April this year in Brazil and Argentina (where the Fiat brand is more popular), the 2021 Ram 700 is a classic case of badge engineering. For safety, the equipment list includes four airbags, advanced traction control with e-locker, ABS with EBD, power-assist steering, ISOFIX Anchors, electronic stability control, and hill-start assist.

Ram 700 Is a Rebadged Fiat Strada Pickup Truck for Latin America

October 12, 2020

Customers in the U.S. and Canada may associate the Ram brand with huge pickup trucks, but the same marque is primarily known in Latin America for cloning compact-sized, Brazil-made Fiat cars. First is a 1.4-litre Fire Evo petrol engine producing 85 PS of maximum power at 5,750 rpm and a peak torque of 118 Nm at 3,500 rpm. Another engine on offer is a more potent 1.3-litre Firefly turbocharged mill churning out 99 PS and 128 Nm.

Ram 700 Debuts As Tiny Truck With Strong Specs

October 12, 2020

Based on the Fiat Strada launched in April this year in Brazil and Argentina (where the Fiat brand is more popular), the 2021 Ram 700 is a classic case of badge engineering. It looks exactly like the Fiat inside and out, bar the badging and Ram-specific front grille. Inside, the Big Horn and Laramie get a seven-inch infotainment screen that supports wireless Apple CarPlay and Android Auto.

Ram 700 Debuts As Tiny Truck With Strong Specs

October 12, 2020

Based on the Fiat Strada launched in April this year in Brazil and Argentina (where the Fiat brand is more popular), the 2021 Ram 700 is a classic case of badge engineering. It looks exactly like the Fiat inside and out, bar the badging and Ram-specific front grille. Inside, the Big Horn and Laramie get a seven-inch infotainment screen that supports wireless Apple CarPlay and Android Auto.

Ram 700 Debuts As Tiny Truck With Strong Specs

October 12, 2020

Based on the Fiat Strada launched in April this year in Brazil and Argentina (where the Fiat brand is more popular), the 2021 Ram 700 is a classic case of badge engineering. It looks exactly like the Fiat inside and out, bar the badging and Ram-specific front grille. Inside, the Big Horn and Laramie get a seven-inch infotainment screen that supports wireless Apple CarPlay and Android Auto.

Ram 700 Debuts As Tiny Truck With Strong Specs

October 12, 2020

Based on the Fiat Strada launched in April this year in Brazil and Argentina (where the Fiat brand is more popular), the 2021 Ram 700 is a classic case of badge engineering. It looks exactly like the Fiat inside and out, bar the badging and Ram-specific front grille. Inside, the Big Horn and Laramie get a seven-inch infotainment screen that supports wireless Apple CarPlay and Android Auto.

Ram 700 Debuts As Tiny Truck With Strong Specs

October 12, 2020

Based on the Fiat Strada launched in April this year in Brazil and Argentina (where the Fiat brand is more popular), the 2021 Ram 700 is a classic case of badge engineering. It looks exactly like the Fiat inside and out, bar the badging and Ram-specific front grille. Inside, the Big Horn and Laramie get a seven-inch infotainment screen that supports wireless Apple CarPlay and Android Auto.

Ram 700 Debuts As Tiny Truck With Strong Specs

October 12, 2020

Based on the Fiat Strada launched in April this year in Brazil and Argentina (where the Fiat brand is more popular), the 2021 Ram 700 is a classic case of badge engineering. It looks exactly like the Fiat inside and out, bar the badging and Ram-specific front grille. Inside, the Big Horn and Laramie get a seven-inch infotainment screen that supports wireless Apple CarPlay and Android Auto.

Ram 700 debuts on official terms

October 12, 2020

The completely redesigned pickup is based on the Fiat Strada , which made its official debut earlier this year in Brazil and Argentina where the brand enjoys high popularity. In terms of capability, the Ram 700 comes with a max payload rating of 750 kilograms (1,653 pounds) and a max tow rating of 400 kilograms (882 pounds).

Ram 700 debuts on official terms

October 12, 2020

The completely redesigned pickup is based on the Fiat Strada , which made its official debut earlier this year in Brazil and Argentina where the brand enjoys high popularity. In terms of capability, the Ram 700 comes with a max payload rating of 750 kilograms (1,653 pounds) and a max tow rating of 400 kilograms (882 pounds).

Ram 700 debuts on official terms

October 12, 2020

The completely redesigned pickup is based on the Fiat Strada , which made its official debut earlier this year in Brazil and Argentina where the brand enjoys high popularity. In terms of capability, the Ram 700 comes with a max payload rating of 750 kilograms (1,653 pounds) and a max tow rating of 400 kilograms (882 pounds).

HHS expects over 1 mln antibody doses from Regeneron, Lilly in 2020

October 11, 2020

Department of Health and Human Services official Paul Mango said on a call with reporters. "I would think there would be pressure on regulators [to approve the drug]", he said. "We had a super-propagator event at the White House (where) people were close to each other and not wearing masks". "So the data speak for themselves".

IBM Announces Spin-off To Focus On Cloud

October 10, 2020

Since his joining at the American IT giant in 1990, he has been a part of the developing and expanding of new markets for the company in artificial intelligence , cloud , quantum computing, and blockchain. According to IBM , this acquisition has helped it build out a robust and secure hybrid cloud platform. IBM values the backlog of its IT infrastructure services unit at £46.40 billion.

Larry Kudlow Says President Trump Has 'Approved' A 'Revised' Stimulus Package

October 10, 2020

Negotiations over a coronavirus relief package have gripped Capitol Hill for weeks, but President Trump earlier this week slammed the door shut on a deal before the election, although he later walked it back. This week's stimulus talks between the White House and Democrats in Congress have seen more plot twists than a well-crafted (or poorly crafted, for that matter) action-thriller.

Canada's September job gains top estimates, jobless rate falls

October 10, 2020

Unemployment in September remained at 11.4 per cent for the Wood Buffalo-Cold Lake area, only a 0.4 per cent drop from August. Canada's unemployment rate now sits at nine per cent, a 1.2 per cent drop from August. The number of mothers who worked less than half their usual hours in September was 70 per cent higher than in February, compared with 23.7 per cent for fathers.

COVID-19 not just a killer, it's also fueling poverty

October 09, 2020

The estimation may rise to 150 million by 2021, depending on the severity of the economic contraction. Numerous new extreme poor will be more educated urban residents, meaning cities will see an increase in the kind of poverty traditionally rooted in rural areas.

Hyundai confirms launch of first fuel-cell trucks

October 09, 2020

Seven large hydrogen tanks offer a combined storage capacity of around 32.09 kg (70.7 lbs) of hydrogen. Meanwhile, Hyundai Motor intends to develop a hydrogen truck that travels more than 1,000 kilometers before refueling with hydrogen, while the current XICIANT only travels 400 kilometers before refueling.

We'll talk about 25th Amendment tomorrow: Pelosi

October 09, 2020

The president's opponents have discussed invoking the 25th Amendment for some time, but are raising it now, so close to Election Day, as the campaigns are fast turning into a referendum on Trump's handling of the coronavirus pandemic. Trump, at the direction of his doctors, has been taking dexamethasone, a steroid used to reduce lung inflammation in COVID patients, that can, in some cases, prompt psychiatric side effects, including mood swings, rage and psychosis.

New claims for unemployment aid remain elevated in Maine

October 09, 2020

The number of claims can exceed the number of people filing for benefits because of overlap between state and federal aid programs. In contrast, continuing unemployment claims dropped to 10.98 million. and Allstate Corp.as well as multiple airlines could start showing up in the numbers in the coming weeks. "The suffering facing the unemployed still reaches far and wide, and the failure to provide any aid for American workers will reverberate throughout the economy", Stettner said.

Microsoft's set to build a series of data centers in Greece

October 08, 2020

While the country was emerging from its debt crisis, the COVID-19 pandemic has put Greece under increasing economic pressure. Companies will get local access to Microsoft's Azure cloud platform and services , Microsoft 365 , Dynamics 365 and Power Platform.

Donald Trump halts coronavirus stimulus talks until after election

October 08, 2020

Just hours prior, the possibility of airlines receiving more federal aid seemed slim after Trump instructed his representatives "to stop negotiating" with Democrats on another round of coronavirus relief "until after the election ". Thereafter, the president was taken to a military hospital after showing symptoms. "They get a small injury at work, they miss a week of work and everything's upside down".

Global economy 'less dire' than expected

October 08, 2020

The worldwide body said in June the global economy would shrink by 4.9 percent this year. The International Monetary Fund recently urged member governments to seize a low interest rate opportunity to invest in infrastructure to drive recovery from the pandemic and a shift toward greener energy.Its research shows public investment in infrastructure and addressing climate change can pay back more than two to one in economic growth within two years.

Bank of Canada Says CBDCs Have Inherent Risks in New Study

October 08, 2020

South Korea will join a handful of other countries like Sweden, China and the U.K.to set the grounds for legitimate digital currency option. The Bank of Canada recently delivered a report on the risks and benefits of a central bank digital currency .

Billionaires Wealth Hit New Record High Amid Pandemic; Moves Past $10 Trillion

October 08, 2020

For instance, software giants such as Microsoft and Oracle - both effectively "billionaire factories", having hatched several billionaires - are quickly moving into areas such as AI, cloud computing and software as a service. The sectors that grew the most were industry and technology sectors. For the report, UBS and PwC analysed data from 2189 billionaires in 43 countries and conducted interviews with 60 billionaires.

Unemployment falls, consumer sentiment rises ahead of election

October 08, 2020

At 56.6 percent, it is still 4.4 percentage points below its year-ago level. The number of people out of work for 27 weeks or more increased by 781,000 to 2.4 million in September. The leisure and hospitality sector added 318,000 jobs, accounting for nearly half of the total. Retail added 142,400 jobs, while health care and social assistance added 107,700 jobs.

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