Economy

Amazon stock falls after Bezos outlines COVID-19 expenses

Amazon stock falls after Bezos outlines COVID-19 expenses

Sales in Amazon's physical stores category, which is nearly entirely Whole Food Market stores, rose eight per cent to US$4.6 billion in the quarter, the largest increase since Amazon bought the organi...

by · Economy
Billionaire Warren Buffett's company reports Q1 loss of US$50 bil

Billionaire Warren Buffett's company reports Q1 loss of US$50 bil

Berkshire's first-quarter net loss totaled $49.75 billion, or $30,653 per Class A share, reflecting $54.52 billion of losses from investments, mainly common stocks. By that measure, Berkshire's operat...

by · Economy

Buffett’s Berkshire posts record net loss on Covid-19, operating profit rises

Berkshire Hathaway Inc . said it lost $49.7 billion, or $30,653 per Class A share, during the first quarter. Net earnings were US$21.66 billion, or US$13,209 per share, a year earlier. Investors and...

by · Economy
Trump claims he`s seen evidence coronavirus originated in Chinese lab

Trump claims he`s seen evidence coronavirus originated in Chinese lab

Trump seemed unfamiliar with the finding and pressed the reporter for the name of the official behind the statement, which was attributed only to "the Office of Director of National Intelligence". Th...

by · Economy
Fed widens Main Street Loan Programme to reach more businesses

Fed widens Main Street Loan Programme to reach more businesses

That's because the Fed has an inherent conflict in this and other bank lending programs: It is a regulator that routinely scrutinizes how banks categorize loans in terms of performance and yet now it ...

by · Economy
USA unemployment claims reached 3.8 mn last week

USA unemployment claims reached 3.8 mn last week

The unemployment rate in March jumped to 4.4 percent, but that was before the strictest lockdowns were imposed nationwide. In normal times, workers who refuse a job offer are not allowed to collect ...

by · Economy
Musk Twitter rant tanks Tesla stock

Musk Twitter rant tanks Tesla stock

The billionaire said in a separate post he's selling "almost all" of his physical possessions and won't own a house. It was not immediately clear whether Mr Musk himself sent the tweet or whether ...

by · Economy
Trump claims to have seen proof coronavirus originated from Wuhan laboratory

Trump claims to have seen proof coronavirus originated from Wuhan laboratory

US President Donald Trump says the coronavirus may have originated in a lab in Wuhan, China . Trump has proven growing frustration with China in latest weeks over the pandemic , which has va...

by · Economy
Up To 3000 Jobs May Go At Ryanair Due To Coronavirus Pandemic

Up To 3000 Jobs May Go At Ryanair Due To Coronavirus Pandemic

Have you been affected by job losses at Ryanair? Ryanair expects to carry 150,000 passengers during April, May and June, compared with the 42 million it had budgeted for at the start of the year...

by · Economy

How to track the status of your stimulus check payment

For taxpayers needing to add their bank account information to speed their payment, you will also need to provide Adjusted Gross Income from 2019 or 2018 tax return (which ever one filed most recently...

by · Economy
Jeff Bezos puts shareholders in the corner

Jeff Bezos puts shareholders in the corner

If the news report is accurate, Amazon's statements to the committee "appear to be misleading, and possibly criminally false" or constituting perjury, said the letter to Bezos signed by the comm...

by · Economy
Tyson Foods issues new round of COVID-19 incentive bonuses

Tyson Foods issues new round of COVID-19 incentive bonuses

The directive tasks the Agriculture Department with ensuring the continued operation of meat processing facilities affected by the novel coronavirus pandemic, which has temporarily shuttered more...

by · Economy
Global markets recoil as Trump threatens US-China trade war

Global markets recoil as Trump threatens US-China trade war

The statement said the intelligence community agrees with a "wide scientific consensus" that the virus was not man-made or genetically modified by Chinese researchers who have carried out extensive ...

by · Economy

US Stock Futures Drop Following Stocks' Best Month in Thirty Years

North American equity markets kicked off May in negative territory, with the S&P/TSX Composite Index falling one-and-a-half per cent, and indices south of the border suffering larger losses, with the ...

by · Economy
Alberta takes first steps to reopen economy beginning May 4

Alberta takes first steps to reopen economy beginning May 4

By June 1, the government hopes to have many campgrounds up and running - excluding group and comfort camping and with some restrictions to certain areas. Deena Hinshaw. " However, we must guard aga...

by · Economy
US GDP contracts 4.8% as recession starts amid Covid-19

US GDP contracts 4.8% as recession starts amid Covid-19

The BEA said "stay-at-home" orders in March had "led to rapid changes in demand, as businesses and schools switched to remote work or canceled operations, and consumers canceled, restricted, or redi...

by · Economy
California gig workers, self-employed can file for unemployment under state program

California gig workers, self-employed can file for unemployment under state program

David Ige said this afternoon. April 28-California's embattled labor agency made first-time payments during March to only one out of every eight workers who filed initial unemployment claims, fresh ...

by · Economy
Almost 4 million more Americans file for unemployment

Almost 4 million more Americans file for unemployment

Department of Labor. With so many processing offices inundated with claims, some Americans have reported weeks-long lags or not receiving benefits at all. The unemployment rate in March jumped t...

by · Economy
Ontario Providing Employers With Workplace Guidelines

Ontario Providing Employers With Workplace Guidelines

Last Thursday, Saskatchewan became the first province in Canada to unveil a reopening plan, which includes five phases. We have thrown everything we have at this virus, because of that, because of y...

by · Economy
Almost 4 million Americans filed for unemployment last week

Almost 4 million Americans filed for unemployment last week

That tally does not include self-employed workers , who haven't yet been able to apply for benefits. The Bureau of Labor Statistics is expected to release a monthly jobs market report for April lat...

by · Economy
Department of Labor to release more unemployment data Thursday

Department of Labor to release more unemployment data Thursday

In other words, within the last six weeks alone an astounding 16.9 percent of the state's workforce (and 9.9 percent of its total working age population) has filed for unemployment . Many experts bel...

by · Economy
Facebook Q1 earnings reveal first look at COVID-19 impact

Facebook Q1 earnings reveal first look at COVID-19 impact

With revenue growth slowing in the first quarter, and more uncertainty in the second quarter, Zuckerberg said that he would pay closer attention to Facebook's profit margins. Facebook said that in...

by · Economy
Boris Johnson has 'healthy baby boy' with fiancée Carrie Symonds

Boris Johnson has 'healthy baby boy' with fiancée Carrie Symonds

The couple's spokesman said they were "thrilled" to announce the birth which took place early this morning, adding: 'Both mother and baby are doing very well'. The family are planning to continue livi...

by · Economy
Gov. DeSantis meets with President Trump to discuss reopening Florida

Gov. DeSantis meets with President Trump to discuss reopening Florida

The Re-Open Florida Task Force, made up of health, political, business, and education leaders from across the state, presented its recommendations to the governor on Tuesday about the safest and most ...

by · Economy
Hundreds of protesters in Lebanon clash with security forces despite virus lockdown

Hundreds of protesters in Lebanon clash with security forces despite virus lockdown

President Michel Aoun called it a "historic day" for Lebanon . On Tuesday, a protester died and several were injured during clashes between the Lebanese army forces and demonstrators in the city ...

by · Economy
SSI recipients who didn't file tax returns, have dependents should contact IRS

SSI recipients who didn't file tax returns, have dependents should contact IRS

Those funds were either returned to the IRS, or are in the hands of tax preparers. More than 88 million people already received payments totaling $125 billion in the program's first three weeks, acc...

by · Economy
Boeing to axe 16,000 jobs as coronavirus stalls new plane orders

Boeing to axe 16,000 jobs as coronavirus stalls new plane orders

Calhoun said it will take years for the aircraft-building business to return to levels seen before the pandemic. "We have to prepare for that". The job cuts will be more significant in Boeing's co...

by · Economy
US Equities: Earnings Move to Forefront Ahead of Fed Decisions

US Equities: Earnings Move to Forefront Ahead of Fed Decisions

New York Governor Andrew Cuomo announced on Sunday the hard-hit state would begin the first stage of a phased reopening on May 15 if hospitalisations decrease. MSCI's gauge of stocks across the globe ...

by · Economy
347 new coronavirus cases, 45 new deaths reported in Ontario

347 new coronavirus cases, 45 new deaths reported in Ontario

On Monday, the province had experienced its third consecutive day of decreased new cases of the virus, however on Tuesday, new cases increased, with 525 new cases announced . The provincial governmen...

by · Economy

US oil rebounds above $14 after massive sell-off

The more active July contract added 22 cents, or 0.97%, to $22.96 a barrel. Crude prices continued to freefall on Tuesday, with US West Texas Intermediate (WTI) trading around $10 a barrel amid fe...

by · Economy
Virgin Atlantic 'still talking' with UK govt on bailout

Virgin Atlantic 'still talking' with UK govt on bailout

The investment bank Houlihan Lokey has now been hired by the airline to help it find additional private investment. The British airline has also requested financial assistance from the United Kingdom ...

by · Economy
U.S. session trade setup - WTI Crude Oil bullish bias dominates

U.S. session trade setup - WTI Crude Oil bullish bias dominates

Crude prices crashed earlier this month, with global fuel tanking roughly 30% due to efforts to slow the spread of the virus. Oil storage concerns have overshadowed signs that some countries are sta...

by · Economy
British Airways Could Drop 12,000 Workers as Aviation Demand Plummets

British Airways Could Drop 12,000 Workers as Aviation Demand Plummets

It said Vueling experienced a modest increase in operating loss. In a statement, it said the sweeping restructuring at BA will probably "affect most of British Airways' employees and may result in t...

by · Economy
Meat Producers at Risk As Trump Keeps Plants Open During COVID-19

Meat Producers at Risk As Trump Keeps Plants Open During COVID-19

Meat producers now face major health risks on the job due to COVID-19. The United Food and Commercial Workers union said in a statement that if workers aren't safe, the food supply won't be either....

by · Economy
Trump Plans To Beef Up Meat Production After Coronavirus Hits Plants

Trump Plans To Beef Up Meat Production After Coronavirus Hits Plants

Trump acted one day after Iowa's two United States senators and its governor urged the administration to invoke the Defense Production Act to keep meatpackers open and reopen closed facilities "as soo...

by · Economy