Economy

Coronavirus: Job Retention Scheme to save jobs may cost up to £40bn

Coronavirus: Job Retention Scheme to save jobs may cost up to £40bn

Torsten Bell, chief govt of the Resolution Foundation suppose tank, mentioned: "By subsidising up to 80% of workers' wages, the scheme will help millions of workers who would otherwise face catastroph...

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Tesco to pay out £5bn special dividend as sales surge

Tesco to pay out £5bn special dividend as sales surge

While other large corporations have been paring back their payouts, the FTSE 100-listed group said it will pay a final dividend of 6.5p for the past year, with plans to return around £5bn of the proce...

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Pandemic could cause deepest economic recession 'of our lifetimes': WTO chief

Pandemic could cause deepest economic recession 'of our lifetimes': WTO chief

On the bright side, the WTO chief also said that economic recovery could be quite fast " regardless of how steep the initial fall is " - but only if right policies are in place.The pandemic already ...

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Feds modify growth restriction on Wells Fargo to support small business

Feds modify growth restriction on Wells Fargo to support small business

The Fed has said it would only remove the cap when Wells Fargo had improved its governance and risk controls following a wave of sales practice scandals. For over a decade, a toxic culture at the bank...

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Walmart Faces Lawsuit Over Worker's Death From Coronavirus Complications

Walmart Faces Lawsuit Over Worker's Death From Coronavirus Complications

He had been sent home from work two days earlier. Two employees of one Walmart store in the Chicago area have died after contracting the coronavirus . The retailer said the store passed a third-par...

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CDC removes guidance from website on drug touted by Trump

CDC removes guidance from website on drug touted by Trump

The move follows a conversation between Trump and Indian Prime Minister Narendra Modi , during which the American president requested that his country be supplied with hydroxychloroquine . A study...

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North American stock markets start trading week by surging higher

Materials was the weakest performer on a drop in gold prices. That's the highest level in about three weeks. The Dow Jones Industrials gave up gains of as much as 900 points at one time, and lost 26...

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Air Canada immediately re-hiring furloughed employees

Air Canada immediately re-hiring furloughed employees

To qualify for the Canada Emergency Wage subsidy when it was first announced, businesses had to show a revenue decline of 30 per cent in March compared to previous year. The group represents many of C...

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Jack Dorsey donates $1bn of Square equity towards coronavirus fight

Jack Dorsey donates $1bn of Square equity towards coronavirus fight

He's seeding the fund with $1 billion, roughly 28% of his wealth. Dorsey said he wanted to donate to causes where he could see an impact in his lifetime. UBI is a great idea needing experimenta...

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Logan's and Old Chicago parent company fires employees

Logan's and Old Chicago parent company fires employees

The sales tax revenues were reportedly paid to states without the approval of court-appointed overseers, according to Restaurant Business Online. The parent company said it is also temporarily closi...

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Wall Street opens higher on coronavirus slowdown hopes

Wall Street opens higher on coronavirus slowdown hopes

The Dow Jones Industrial Average closed up 1,628.15 points, or 7.73 percent, while the S&P 500 fell 6.97 percent and the Nasdaq Composite dropped 7.33 percent as the market reacted to optimism that sp...

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Chinese chain Luckin Coffee still can't take a break

Chinese chain Luckin Coffee still can't take a break

A source from a financial regulator said that applying a registration-based system to all applications would obviously not be suitable for China. At least two of the four banks which led Luckin's in...

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Japan to declare emergency as Tokyo cases soar

Japan to declare emergency as Tokyo cases soar

Japan's Prime Minister Shinzo Abe will on Tuesday declare a state of emergency in parts of the country, including Tokyo , over a spike in coronavirus infections. The declaration is expected to t...

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Google data suggests how well Canadians are staying at home

Google data suggests how well Canadians are staying at home

However, it cautions, "Location accuracy and the understanding of categorized places vary from region to region, so we don't recommend using this data to compare changes between countries, or between ...

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Japan to declare coronavirus emergency, launch $990 billion stimulus: PM Abe

Japan to declare coronavirus emergency, launch $990 billion stimulus: PM Abe

The declaration would officially allow prefectural governors to request that facilities where large groups of people gather, such as schools, shopping centers, and movie theaters, close, and also to ...

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Tesla shows off its COVID-19 ventilator made from Model 3 parts

Tesla shows off its COVID-19 ventilator made from Model 3 parts

Ford is partnering with GE Healthcare to build ventilators at a MI factory, and is working with 3M to produce respirators using some repurposed vehicle parts, including fans from F-150 seats. The air...

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The Canada Emergency Response Benefit has officially launched

The Canada Emergency Response Benefit has officially launched

CERB payments could start appearing in people's bank accounts as early as this week, with those who qualify expected to receive $2,000 per month for the next four months. Any Canadian who has stopped ...

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Trump Steps Up Oil Tariff Threat Amid Saudi-Russia Rift

Trump Steps Up Oil Tariff Threat Amid Saudi-Russia Rift

OPEC and allies are due to meet on Thursday to discuss a possible new global crude supply cut. Prices may decline more gradually after Saudi Arabia sent a signal that a production cut deal may be a...

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Japan's Shinzo Abe Moves to Declare State of Emergency in Tokyo, Osaka

Japan's Shinzo Abe Moves to Declare State of Emergency in Tokyo, Osaka

The majority of confirmed Covid-19 cases over the weekend in Tokyo were of people under the age of 50, a member of Japan's health ministry taskforce for the virus said in the same livecast Sunday ni...

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Oil falls after Saudi Arabia, Russia delay meeting

Oil falls after Saudi Arabia, Russia delay meeting

Global crude prices have fallen to levels not seen since 2002 against the backdrop of the coronavirus-induced pause to national economies and the collapse of the OPEC + deal. "There's a lot of talk...

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Coronavirus: Former players criticise Liverpool's 'poor' decision to furlough non-playing staff

The Glazers have stuck to paying the playing and non-playing staff their regular wages without the help of the Government furlough scheme, while club Captain Harry Maguire, organised the Manchester U...

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Apple to ship one million face shields a week for medical workers

Apple to ship one million face shields a week for medical workers

The first delivery of Apple face shields had already been sent to Kaiser hospital facilities in the Santa Clara valley in California earlier this week, according to Cook. "We are closely coordinating ...

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B.C. Ferries cuts sailings on major routes, suspends service on others

B.C. Ferries cuts sailings on major routes, suspends service on others

The global ferry industry group Interferry, which includes BC Ferries, has called for financial aid from governments around the world "to offset unsustainable losses incurred - expected to be in the b...

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Liverpool legends slam club for placing non-playing staff in furlough

Mike Ashley was the first Premier League club owner to disgracefully abuse the government's furlough scheme, the billionaire businessman passing responsibility for financially supporting the club's ...

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Walmart Limiting Customers, Making Aisles One-Way

Walmart Limiting Customers, Making Aisles One-Way

The latest procedures come in addition to other steps taken by Walmart in hopes of increasing safety and health of its associates and customers, including limiting store hours to allow for more cleani...

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Scott Morrison says Australia is in ‘suppression phase’ of Covid-19 battle

Scott Morrison says Australia is in ‘suppression phase’ of Covid-19 battle

Meanwhile, Australia's top health expert Brendan Murphy has said that the true global estimate of coronavirus cases could be "five or ten times higher" than the current estimate of one million cases r...

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7 charts that show just how bad the March jobs report was

7 charts that show just how bad the March jobs report was

Though the data is meant to reflect the situation in the labor market in March, it was collected in the middle of last month, before the U.S. was named the worst affected country by the number of cor...

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President Trump wants fans back in arenas, stadiums by August or September

President Trump wants fans back in arenas, stadiums by August or September

In the grimmest day yet for the USA state hit hardest by the pandemic , coronavirus-related illnesses killed 630 people in the last 24 hours in NY state, Governor Andrew Cuomo said on Saturday. Mor...

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Amazon reportedly postponing Prime Day

Amazon reportedly postponing Prime Day

But according to internal meeting notes acquired by media outlets including USA TODAY and Vice News, the company's general counsel David Zapolsky says " Prime Day will be pushed off at least until ...

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Ryanair sees passenger traffic fall by 48%

Ryanair sees passenger traffic fall by 48%

Ryanair says it operated more than 33,000 scheduled flights last month. The company said that the number of passengers it carried in March was 48% lower than the same month past year. It said it wa...

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United States farmers hit hard by coronavirus fallout

United States farmers hit hard by coronavirus fallout

During meeting, the local milk processing companies showed sympathy and assurance of buying row dairy items from local small and marginal farmers but we still didn't get any such support from them, he...

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IMF leader says virus fallout to be much worse than financial crisis

IMF leader says virus fallout to be much worse than financial crisis

Noting that almost $90 billion have flown out of emerging markets, even more than the scale seen during the 2008 global financial crisis , Georgieva said the International Monetary Fund is mobilisi...

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Hardworking Morrisons staff to get huge coronavirus bonus

Hardworking Morrisons staff to get huge coronavirus bonus

Employees will get a six per cent bonus on earnings over the next year - around £1,050 for a full-time worker. Sick or self-isolating employees will also be paid the bonus, which will come in quarte...

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Mazda celebrates centenary with new special editions for 2020

Mazda celebrates centenary with new special editions for 2020

The Mazda R360 was a small lightweight coupe introduced in 1960, powered by a four-cylinder engine (it arrived before Mazda's foray into rotary engines) matched to an automatic transmission. The res...

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Coffee plunger: Luckin shares crater on misconduct allegations

Coffee plunger: Luckin shares crater on misconduct allegations

The company said it had suspended COO Jian Liu and employees reporting to him following initial recommendations from a special committee that was appointed to investigate issues in its financial state...

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