Economy

Belarus says hundreds arrested as opposition figure 'kidnapped'

Belarus says hundreds arrested as opposition figure 'kidnapped'

Ukrainian border guards said that Kolesnikova had not entered the country, refuting initial claims that she had crossed the border. "Everything they suggest is a catastrophe for Belarus and the Bela...

by · Economy
Gold Eases On Firmer Dollar; Recovery Worries Limit Losses

Gold Eases On Firmer Dollar; Recovery Worries Limit Losses

In a quiet start to the trading day on Monday, the euro last stood at $1.1841, unchanged on the day, while the dollar index was little changed at 92.875. After an underperformance in long-dated Italia...

by · Economy

Amazon's Jeff Bezos tops Forbes richest list, coronavirus pandemic knocks Trump lower

Trump saw big dips in his NY real estate this year, according to Forbes . Trump World Tower, with a net value of $27 million, increased by $2 million over the a year ago, Forbes reported. Koch fund...

by · Economy
Boeing says new problem to delay deliveries of 787 Dreamliner

Boeing says new problem to delay deliveries of 787 Dreamliner

The technical problems, coupled with ongoing inspections by the Federal Aviation Administration (FAA), are set to impact deliveries, the company said. The Seattle-based plane manufacturer, one of the ...

by · Economy
Goldman, Fitch slash India FY21 GDP estimate to worst in history

Goldman, Fitch slash India FY21 GDP estimate to worst in history

In its September update of Global Economic Outlook (GEO), Fitch said , the deepest recessions were in India , the United Kingdom and Spain, countries that saw particularly large shocks in daily mobi...

by · Economy
Markets start trading week lower, tech shares hurt Nasdaq

Markets start trading week lower, tech shares hurt Nasdaq

Tesla's valuation has arguably been stretched for much of 2020, and even after more than a 30% haircut in the last five trading days, shares trade at over 130 times earnings. At session lows on Tue...

by · Economy
SoftBank's $4 Billion Trading Gains on US Stock-Option Bet: FT

SoftBank's $4 Billion Trading Gains on US Stock-Option Bet: FT

Since April, the share price of SoftBank has fallen by a maximum amount of 5.7 per cent on an intraday basis. Before the Monday fall, the stock had gained 33 per cent since the start of the year. ...

by · Economy
General Motors takes $2 billion stake in electric truck startup Nikola

General Motors takes $2 billion stake in electric truck startup Nikola

The Badger is expected to hit the market by the end of 2022. Nikola immediately gets decades of supplier and manufacturing knowledge, validated and tested production-ready EV propulsion, world-class e...

by · Economy

India Ratings revises FY21 GDP growth projection to -11.8%

Global rating and research houses, such as Fitch and Goldman Sachs , have cut their estimates for growth in India's gross domestic product (GDP) for the current fiscal 2020-21 (FY21). The PMI balan...

by · Economy
Samsung wins $9b Verizon deal to supply 5G network solutions

Samsung wins $9b Verizon deal to supply 5G network solutions

Verizon CEO Hans Vestberg told CNBC a year ago the largest USA wireless provider does not use any Huawei equipment. Samsung already is supplying 4G and 5G equipment to AT&T, Sprint and Verizon, ...

by · Economy

Facebook to allow employees to work remotely until year end

Specific guidance for employees will vary from location to location, based on what state and local municipalities allow, and Google said it will continue to operate in accordance with health guidance ...

by · Economy
Microsoft keeps US$10b JEDI cloud contract after review

Microsoft keeps US$10b JEDI cloud contract after review

In a blog post , Amazon on Friday criticized the DoD's decision saying that the "re-evaluation [is] nothing more than an attempt to validate a flawed, biased, and politically corrupted decision"....

by · Economy
ED arrests Chanda Kochhar`s husband Deepak Kochhar in money laundering case

ED arrests Chanda Kochhar`s husband Deepak Kochhar in money laundering case

Earlier this year, the ED provisionally attached Rs 78.15 crore worth movable and immovable assets in possession of ICICI Bank's former Managing Director and CEO, her husband and the companies owned/c...

by · Economy
Biden says Trump lives by 'code of lies, greed'

Biden says Trump lives by 'code of lies, greed'

Republican President Donald Trump, accused by Joe Biden of putting lives at risk in his handling of the coronavirus, on Monday called his Democratic rival "stupid" and demanded an apology for what Tru...

by · Economy
Oil Down After Saudi Price Cuts

Oil Down After Saudi Price Cuts

In point of fact, Friday's tottering of crude oil futures' prices appeared to be catalysed by an extended retreat in the U.S. equity market, while a United States private payroll report revealing a ...

by · Economy
Belarusian opposition activist Maria Kolesnikova 'seized by unidentified people' in Minsk

Belarusian opposition activist Maria Kolesnikova 'seized by unidentified people' in Minsk

Her disappearance follows a massive rally Sunday that drew an estimated 100,000 protesters pushing for the resignation of Lukashenko, who extended his 26-year rule in the August 9 election that the ...

by · Economy
EU's chief Brexit negotiator anxious about negotiations

EU's chief Brexit negotiator anxious about negotiations

European Fee President Ursula von der Leyen known as the United Kingdom to order, saying on Monday (September seventh) that it was required " underneath worldwide legislation " to respect the EU withd...

by · Economy
Employment rose by 4,700 in Sask. from July to August

Employment rose by 4,700 in Sask. from July to August

However, the participation rate is 1.3 percentage points lower for women, compared to pre-COVID levels. The unemployment rate was higher for racialized workers than non-racialized workers. Those wit...

by · Economy

Philippines Adds Australia's CSL As Potential Vaccine Source

A Sinovac representative told AFP his firm has already "completed the construction of a vaccine factory" able to produce 300 million doses a year. It will take possession of the first 3.8 million do...

by · Economy
Tech leads United States stocks’ biggest rout since June

Tech leads United States stocks’ biggest rout since June

The S&P index recorded no new 52-week highs and no new low, while the Nasdaq recorded 18 new highs and 77 new lows. US employers added 1.4 million jobs in August, and the unemployment rate dropped t...

by · Economy

Australia Okays $1.2 Billion Funding for Two Potential Covid-19 Vaccines

The University is now undertaking a Phase 1 clinical study to assess safety and the immune response generated in healthy volunteers. The federal government has nailed down two possible vaccine sourc...

by · Economy
Trump administration weighs blacklisting China's chipmaker SMIC

Trump administration weighs blacklisting China's chipmaker SMIC

SMIC said in a statement on Saturday it was "in complete shock" over the news but was open to communication with USA government agencies in hopes of resolving any misunderstandings. SMIC is a publicly...

by · Economy
Nigeria, Russia Sign MOU On Covid-19 Vaccine

Nigeria, Russia Sign MOU On Covid-19 Vaccine

The vaccine was administered in two forms - frozen and freeze-dried - and the frozen form showed greater efficacy in terms of production of neutralising antibodies and T-cells. In a statement, Mr Morr...

by · Economy

Labor Day gas prices are set to be lowest since 2004

Gas Buddy reported the national average for the lowest-priced gas price on Labor Day was $1.82 per gallon in 2004. That is 49 cents lower than this time past year. "We forecasted that more than 700 mi...

by · Economy

Amazon downgrades 20,000 product reviews to fight false ratings

Fryer then seems to have resold the products on eBay . When contacted by the FT, Mr Fryer denied posting any reviews which had been paid for but then proceeded to delete his review history from his...

by · Economy
Coronavirus: Virgin Atlantic to cut 1150 more jobs

Coronavirus: Virgin Atlantic to cut 1150 more jobs

Virgin Atlantic chief executive Shai Weiss said: "Together, we have achieved what many thought impossible and that is down to the efforts and sacrifices of so many across the company". Virgin Atlanti...

by · Economy
London jobless rate improves for second straight month as recovery continues

London jobless rate improves for second straight month as recovery continues

Canada's economy added 245,800 jobs in August, a fourth-straight month of gains that has recouped nearly two thirds of employment losses from the pandemic. Full-time employment is now nearly six per c...

by · Economy
Oil falls 3%, posts weekly drop on demand concerns

Oil falls 3%, posts weekly drop on demand concerns

Overall, the market remains focused on the stalled recovery in fuel demand as countries continue to battle the coronavirus pandemic with rolling COVID-19 lockdowns, analysts said. Physical markets are...

by · Economy
Virgin Australia creditors vote in favour of airline's purchase by Bain Capital

Virgin Australia creditors vote in favour of airline's purchase by Bain Capital

Virgin Australia creditors have approved Bain Capital's $3.5 billion acquisition of the airline. It plans to reemerge with cheap fares as a value-based carrier. Virgin's administrator Deloitte said ...

by · Economy
Jeff Bezos' ex-wife MacKenzie Scott is the world's richest woman

Jeff Bezos' ex-wife MacKenzie Scott is the world's richest woman

Shares have risen from almost $2,000 to $3,500 since the start of 2020 alone. Scott's recently discovered spot at the high spot comes after her mammoth separation settlement from Amazon author Bezos...

by · Economy
SoftBank stock market bets contributed to recent jump in tech shares

SoftBank stock market bets contributed to recent jump in tech shares

One banker described it as a "dangerous" bet. It has been under pressure from hedge fund Elliott Management to use this cash to pay down debt and buy back shares, after its attempt to raise a second...

by · Economy
SoftBank joins India's online education boom with startup funding

SoftBank joins India's online education boom with startup funding

Moneycontrol was the first to report, on July 13, that SoftBank was in talks to back Unacademy whose existing investors Sequoia Capital, Facebook , General Atlantic , Blume Ventures and Nexus Ve...

by · Economy
Australians missing after livestock ship hit by Typhoon Maysak near Japan

Australians missing after livestock ship hit by Typhoon Maysak near Japan

The ship-tracking website MarineTraffic.com said it was sailing into high winds when it vanished 100 miles west of the Japanese island of Amami Oshima. The young cows were exported by Australia-he...

by · Economy
Tech sector extends slump, dragging stock market lower again

Tech sector extends slump, dragging stock market lower again

The Dow Jones Industrial Average fell 580 points at one point during morning trading, while the S&P 500 retreated 2.3%. The S&P 500 Index fell 0.7 per cent at 2:40 p.m. The Dow, meanwhile, has fal...

by · Economy
New unemployment claims almost flat in Oklahoma

New unemployment claims almost flat in Oklahoma

London's COVID-19-clobbered economy added almost 7,000 new jobs in August, helping bring the region's unemployment rate down by more than a percentage point - the second drop in the jobless rate in as...

by · Economy