Economy

Facebook extends work from home until 2021 (Includes interview)

Facebook extends work from home until 2021 (Includes interview)

Employees whose work requires a physical presence in the office will be able to reenter the workplace in June or July, according to Pichai. Facebook employees have been working from home since t...

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Branson to sell off $765m in Virgin shares

Branson to sell off $765m in Virgin shares

But Virgin Atlantic, which is a private company, has been focusing on discussions with investors. In April, Branson who owns 51% of Virgin Atlantic offered to mortgage his private Caribbean island, ...

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Saudi Arabia’s ADDITIONAL output cuts fuel oil price rally

Saudi Arabia’s ADDITIONAL output cuts fuel oil price rally

Al-Jadaan said the pandemic has caused an unprecedented slump in oil demand, decline in economic activity and a rise in expenses needed to stem the spread of coronavirus . Saudi Arabia has had some 4...

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USA says Chinese are hacking Covid-19 vaccine research

USA says Chinese are hacking Covid-19 vaccine research

The new rules will not apply to reporters carrying passports issued by the semi-autonomous Chinese territories of Hong Kong and Macau. The analysis attributed the investment slowdown to Chinese rest...

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Saudi Arabia triples Value-Added Tax and suspends cost of living allowance

Saudi Arabia triples Value-Added Tax and suspends cost of living allowance

WTI erases daily losses after Saudi Arabia's announcement on oil production. The kingdom will suspend a cost-of-living allowance for government workers starting in June and hike Value-Added Tax fr...

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Brent Crude Prices Rebound as Global Supply and Demand Started to Realign

Brent Crude Prices Rebound as Global Supply and Demand Started to Realign

The number of United States rigs drilling for oil fell to a level not seen since before the shale-oil revolution kicked off at the beginning of the last decade. drilling rigs had fallen to a record lo...

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BLS April jobs report: Unemployment skyrockets to 14.7%

BLS April jobs report: Unemployment skyrockets to 14.7%

The jaw-dropping job losses in the last two months pushed nonfarm employment to its lowest level since February 2011. As horrific as the April unemployment figure, economists say the official ...

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J.C. Penney to file for bankruptcy

Founded in Kemmerer, Wyoming, in 1902 by James Cash Penney, the company grew to be the largest retailer in the country, now operating approximately 850 locations and employing almost 85,000 people a...

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Washington in talks with chipmakers about building U.S. factories

Washington in talks with chipmakers about building U.S. factories

Spokesman William Moss said Santa Clara, California-based Intel is well-positioned to work with the government "to operate a USA -owned commercial foundry". Intel is talking to the Trump administrat...

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Oil rises as coronavirus curbs ease, setting stage for demand boost

Oil rises as coronavirus curbs ease, setting stage for demand boost

Global benchmark Brent crude settled 13.86% higher at $30.97 per barrel and also posted its fifth consecutive positive session. Crude oil rallies again (CL1:COM) and is on track for its best we...

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Petrol, diesel prices hiked in Rajasthan, Uttarakhand due to tax

Petrol, diesel prices hiked in Rajasthan, Uttarakhand due to tax

This means, taking the current price of petrol at Guwahati which is Rs 77.46 per litre, a consumer in Guwahati is paying a whopping Rs 59.24 in taxes per litre which includes central government ta...

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Based Vista Equity Partners to invest Rs 11367 crore in Reliance Jio

Based Vista Equity Partners to invest Rs 11367 crore in Reliance Jio

While the Facebook deal spoke about the possibilities of expanding Reliance's retail service, Jiomart , the deal with Vista Equity Partners only contained broad hints of how the two could partner...

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GSK offloads stake in Hindustan Unilever for over Rs 25,000 crore

GSK offloads stake in Hindustan Unilever for over Rs 25,000 crore

In early April, GSK received HUL's shares in return of the sale of its Indian consumer business, GlaxoSmithKline Consumer Healthcare Ltd, to HUL. The names of the buyers were not immediately known. ...

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Amsterdam eatery trials greenhouses for socially-distant dining

Amsterdam eatery trials greenhouses for socially-distant dining

As reported by Reuters , a series of small greenhouses (max. capacity: 3) has been constructed along the waterfront outside of their restaurant. Mediamatic Eten , which specializes in vegan food ...

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Tesla secures $565m loan for Shanghai plant

Tesla secures $565m loan for Shanghai plant

Tesla has halted production at its factory in Shanghai, which had been its only plant still in operation amid the global coronavirus pandemic. The company informed many factory workers, who were sup...

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Tesla Owners & Shareholders Speak Out Against Alameda County

Tesla Owners & Shareholders Speak Out Against Alameda County

Not to mention bring a lawsuit . Musk on Saturday announced that Tesla was filing a lawsuit against Alameda County, where the facility is located, immediately. "All businesses within the County m...

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United States jobless rate will get worse: White House adviser

United States jobless rate will get worse: White House adviser

Other infectious disease specialists, meanwhile, warned that a too-swift reopening of businesses and public spaces would ignite new hot spots . At the White House , all employees are being tested at...

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Coronavirus concern grows as White House staffers, Secret Service personnel test positive

Coronavirus concern grows as White House staffers, Secret Service personnel test positive

Protective facial coverings have been a hard sell for Trump and Pence despite a recommendation from the Centers for Disease Control that people wear masks or alternatives. The White House had no immed...

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DHS Document Reveals 11 Coronavirus Cases in US Secret Service, Report Claims

DHS Document Reveals 11 Coronavirus Cases in US Secret Service, Report Claims

Ivanka Trump's personal assistant has tested positive for coronavirus , USA officials said on Saturday while confirming the third infection in the White House in less than a week. Valets are membe...

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Musk threatens removing Tesla from California over virus restrictions

Musk threatens removing Tesla from California over virus restrictions

Erica Pan. Tesla produces over 415.000 electric cars a year at the factory in Fremont. In response, Musk told Tesla staff that the company would resume limited production on Friday. Tesla planne...

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Tesla's Musk Suing California County for Blocking Reopening

Tesla's Musk Suing California County for Blocking Reopening

The company said it had informed health authorities in Alameda County , where the Fremont factory is located, about its restart plans, but claimed the acting official did not return calls or emails. ...

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United Kingdom wants to 'slowly and cautiously' ease lockdown to restart economy - minister

United Kingdom wants to 'slowly and cautiously' ease lockdown to restart economy - minister

In a televised address to the nation, Johnson said that while people with jobs that can not be done from home are being encouraged to return to work, "this is not the time, simply, to end the lockdown...

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US FDA approves home-collected saliva test for coronavirus

US FDA approves home-collected saliva test for coronavirus

Now, at a time when some states say they are still facing a shortage of tests, the at-home spit-collection kits have the potential to widen the audience for virus screening. "The FDA has authorized ...

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69000 loans approved in first day of Bounce Back scheme

69000 loans approved in first day of Bounce Back scheme

Bounce Back Loans are created to help thousands of small firms get finance quickly during the coronavirus crisis at a low, affordable rate and with a 100 percent Government-backed guarantee. This bo...

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Google, Facebook extend work-from-home plans

Google, Facebook extend work-from-home plans

Sundar Pichai, the CEO of Google-parent company Alphabet, told employees they will likely be working from home until the end of the year. The offices of major tech companies are likely to be prett...

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Debenhams to close 5 stores, 1000 jobs lost

Debenhams to close 5 stores, 1000 jobs lost

Debenams is set to permanently close another five stores once lockdown is over. Debenhams entered bankruptcy last month for the second time in a year, appointing administrators "in order to prot...

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Jeep Wrangler SUV Tips Over In IIHS Crash Tests

Jeep Wrangler SUV Tips Over In IIHS Crash Tests

In the crash test , the IIHS said the Wrangler was "Acceptable" at protecting its driver during the small-overlap crash test, which simulates an impact with an object that is roughly one-quarter ...

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Ivanka Trump's personal assistant latest to test positive for coronavirus

Ivanka Trump's personal assistant latest to test positive for coronavirus

However, Ivanka Trump and her [assistant's husband] husband Jared Kushner both tested negative after their tests were conducted as precautionary measures on Friday, the report highlighted. West Wi...

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USA lost 20.5M jobs in April, unemployment 14.7%

USA lost 20.5M jobs in April, unemployment 14.7%

The coronavirus outbreak has triggered a stunning collapse in the US workforce with 10 million people losing their jobs in the past two weeks and economists warn unemployment could reach levels ...

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Guy Fieri Raises $20 Million For Out-Of-Work Restaurant Workers

Guy Fieri Raises $20 Million For Out-Of-Work Restaurant Workers

Instead, he's partnered with the National Restaurant Association to support its Restaurant Employee Relief Fund, supporting laid-off restaurant workers. The Mayor of Flavortown is giving back to r...

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Wales announces modest lockdown changes

Wales announces modest lockdown changes

Powys has seen one more confirmed case and Gwynedd 14. Wales' First Minister Mark Drakeford introduced exclusively "modest" modifications to the lockdown on Friday - additionally together with that ...

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ICICI Bank posts Q4 net profit of Rs 1221.36 crore, misses estimates

Excluding COVID-19 related provisions, the net profit would have been Rs 3,260 crore, the bank said. The bank's total income grew by 12.1 per cent to ₹23,443.66 crore in the quarter ended March 30...

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USA economy shed 701000 jobs in March, first decline in decade

USA economy shed 701000 jobs in March, first decline in decade

The Trump administration's Bureau of Labor Statistics just released a pretty disastrous March jobs report showing 700,000 jobs lost and an unemployment rate of 4.4 percent, but that's positively r...

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Europe's top court hits back at German ECB ruling

The European Central Bank pushed back on a German court's attempt to curb its powers on Thursday, saying it was accountable only to EU institutions and its determination to provide stimulus was strong...

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Virgin Media and O2 in 'game changing' merger

Virgin Media and O2 in 'game changing' merger

In favour of this deal, Virgin Media doesn't have any 5G spectrum to bring along, which would have hampered any such JV between O2 and the likes of Vodafone , Three or EE/BT. "With Vodafone havin...

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