Economy

Unemployment rate drops below 11 percent in Northeast B.C.

Unemployment rate drops below 11 percent in Northeast B.C.

However, it's not all good news. But Statistics Canada said by mid-June, when the labour force survey was conducted, the number of workers still affected by the COVID-19 pandemic was 43 per cent l...

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Electric vehicle startup Rivian gets $2.5B in added funding

Electric vehicle startup Rivian gets $2.5B in added funding

This time, funding was led by financial firms like T. Row Price Associates (also a previous investor), Soros Fund Management, Fidelity Management and Research Company, Coatue, and Baron Capital Group....

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Rio Tinto to close New Zealand smelter, 1,000 jobs to go

Rio Tinto to close New Zealand smelter, 1,000 jobs to go

The business employs about 1,000 people. New Zealand Minister of Finance Grant Robertson said the closure had been a possibility for some time, especially after the government in 2013 told Rio Ti...

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Canada added almost one million jobs in June as businesses reopen

StatsCan says there are still some 3.1 million people affected by the shutdowns of March and April when public health restrictions forced businesses to close and workers to stay at home to slow the sp...

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Nasdaq ends at record high as United States stocks finish solidly up

Nasdaq ends at record high as United States stocks finish solidly up

The NASDAQ is up 29.7% over the last three months. Levi Strauss & Co dropped 8.3 percent as it reported a second-quarter loss of 363.5 million USA dollars in the wake of coronavirus closures. But ...

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Unemployment rate continues to increase in Lloydminster regions

Unemployment rate continues to increase in Lloydminster regions

She says job gains in May and June bring back about 40 per cent of the total number of jobs lost since February. "It really is a staggering figure", James said, adding it points to the need for more...

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Canada has handled coronavirus outbreak better than US, Trudeau says

Canada has handled coronavirus outbreak better than US, Trudeau says

In his fiscal update on Wednesday, Finance Minister Bill Morneau indicated that total government spending would balloon to $612 billion by 2021, almost double the $346 billion spent in 2019. "A lot of...

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Covid-19: furlough extended for parents on statutory leave

Covid-19: furlough extended for parents on statutory leave

From 1 July until the end of October, estate agencies can bring employees back to work part time that have previously been furloughed, while still being able to claim the grant, a move created to ince...

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China's steel industry PPI down 5.1 percent in June

China's steel industry PPI down 5.1 percent in June

China's overall producer price index (PPI) edged down by 3.0 percent year on year in June, and edged up by 0.4 percent month on month. The consumer price index (CPI) rose 2.5 percent year-on-year fo...

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Gold prices today fall after rising above ₹49,000 per 10 gram

Gold prices today fall after rising above ₹49,000 per 10 gram

The sudden spike in interest for gold ETFs was more than in any previous full year and almost half of all the gold mined during the period, according to the World Gold Council. "It has enough catalyst...

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Okonjo-Iweala in high spirits, says WTO role vital

Okonjo-Iweala in high spirits, says WTO role vital

No African has been WTO director-general since its founding in 1995, nor headed its predecessor organization, the General Agreement on Tariffs and Trade (GATT), which started in 1948. The Geneva-bas...

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Bed Bath & Beyond plans to close about 200 stores nationwide

Bed Bath & Beyond plans to close about 200 stores nationwide

The announcement came as the firm unveiled its quarterly earnings report on Wednesday. During the fiscal first quarter, the retailer closed 21 stores. The decision comes as a result of the impact of t...

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Fed’s Bostic warns U.S. recovery may be ‘levelling off’ - FT

Fed’s Bostic warns U.S. recovery may be ‘levelling off’ - FT

Bostic suggested that more economic support for small businesses may be needed, saying that "the longer this goes without them getting relief, the more likely that they're not going to be able to surv...

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Palantir Files with SEC for Near-$1bn Fund-Raiser

Palantir Files with SEC for Near-$1bn Fund-Raiser

Co-founded in 2004 by billionaire Peter Thiel , the company has been involved in some of the US government's most politically sensitive projects, from identifying terrorists to the tracking of illega...

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Brooks Brothers, Parent of Jeweler Deconic, Files for Chapter 11

Brooks Brothers, Parent of Jeweler Deconic, Files for Chapter 11

Brooks Brothers filed for Chapter 11 bankruptcy protection in the USA bankruptcy court for the District of DE early Wednesday morning. With the filing, Brooks Brothers joins a host of other compani...

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Stocks open higher Wednesday as rise in tech sector resumes

Stocks open higher Wednesday as rise in tech sector resumes

However, a surge in coronavirus cases has cast a shadow over the strong rally in stocks as many USA states have curtailed their reopening plans, threatening to derail the economic recovery. Biogen I...

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Hyundai delivers world’s first fuel cell heavy-duty truck to Switzerland

Hyundai delivers world’s first fuel cell heavy-duty truck to Switzerland

A total of 50 XCIENT Fuel Cell trucks will be exported to Switzerland, followed by Hyundai handing them over to commercial fleet owners starting September. To truly reduce carbon emissions, all of...

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United Airlines sends layoff notices to 45% of USA employees

United Airlines sends layoff notices to 45% of USA employees

About 3,700 workers have already taken voluntary separation packages. United can't lay off workers before then as a condition of the $5 billion in federal payroll aid it began receiving this spring. "...

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Coronavirus in Australia: Melbourne begins new shutdown

Coronavirus in Australia: Melbourne begins new shutdown

PM Scott Morrison said he would take a proposal to a national cabinet of state and territory leaders on Friday, seeking to slow down the number of Australian citizens and permanent residents returning...

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Facebook ad boycott organizers see 'no commitment to action' in Zuckerberg meeting

Facebook ad boycott organizers see 'no commitment to action' in Zuckerberg meeting

Jessica J. González, co-chief executive officer at Free Press also was dismayed over the meeting's outcomes. The results of a multiyear investigation into Facebook's policies and their consequences...

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Oil Glut Concerns and Rising COVID-19 Cases Dampens Crude Oil Bulls

Oil Glut Concerns and Rising COVID-19 Cases Dampens Crude Oil Bulls

Brent oil futures was up slightly 0.21% to trade at $43.17 by 9.44 GMT, while the West Texas Intermediate futures gained by 0.02% to $40.63. The American Petroleum Institute reported inventories ro...

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Audi e-tron S & e-tron S Sportback electric SUVs revealed

Audi e-tron S & e-tron S Sportback electric SUVs revealed

Audi has whipped the wraps off its new Q4 Sportback E-tron concept , which effectively previews the 2021 production version of the sleekly styled electric crossover. It's another sign that Audi is se...

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Chinese shares higher at midday Monday

Chinese shares higher at midday Monday

E-Mini futures for the S&P 500 firmed 1.2 per cent. China's CSI300 index of the largest Shanghai and Shenzhen listed shares surged 5.7% on Monday, the biggest rise since February 2019. Besides, the ...

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Participating in #BlackoutDay2020 Can Support the Black Lives Matter Movement

Participating in #BlackoutDay2020 Can Support the Black Lives Matter Movement

It's " Blackout Tuesday ", a viral social media initiative aiming to demonstrate the economic impact of the Black community. "If for one day in America, not one Black person spent a dollar - not onl...

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Twitter allows 'Tweeps' to work from home 'forever'

Twitter allows 'Tweeps' to work from home 'forever'

The social media platform was one of the first companies to implement the "work from home" strategy in the face of Covid-19 and has expressed their intent to ensure that employees who's roles enable t...

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Boohoo is investigating ‘modern slavery’ in supplier’s factory

Boohoo is investigating ‘modern slavery’ in supplier’s factory

Sticking with its "hold" rating on Boohoo's shares, the broker added: 'If there is substance to these stories then there can only be rating contraction risk as knowingly underpaying workers in the U...

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European Union economy hit by pandemic harder than expected

European Union economy hit by pandemic harder than expected

The bloc will contract a record 8.7% this year before growing 6.1% in 2021. In early May, the Commission had forecast a downturn this year of 7.7 percent and a rebound in 2021 of 6.3 percent. "Thi...

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UK PM Johnson: More optimistic than EU’s Barnier about the trade deal

UK PM Johnson: More optimistic than EU’s Barnier about the trade deal

The finance industry is hoping that the UK's regulatory regime will be granted so-called "equivalence" by the European Union, meaning that investment firms and clearing houses based in the country cou...

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Elon Musk Is Selling Satin Shorts Now

Elon Musk Is Selling Satin Shorts Now

As of mid-June, more than 15M shares of TSLA stock were being sold short and are now valued at more than $18B, making Tesla by far the most shorted company by valuation on the Nasdaq. Instead, las...

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Ford is bringing back the Bronco and it's aimed right at Jeep

Ford is bringing back the Bronco and it's aimed right at Jeep

So what's this Built Wild thing about? It's understood Ford is wanting to specifically target Chrysler's own lucrative off-road brand, Jeep . The Bronco reservation system will open when the 4x4s a...

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Rishi Sunak extends furlough scheme until end of June

Rishi Sunak extends furlough scheme until end of June

It is s scheduled to come into operation on 20 April 2020. Employees who were on the payroll of their employer on or before 19 March 2020 can now qualify for the scheme. The Coronavirus Job Retention ...

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Uber, Postmates agree on $2.65 billion all-stock deal

Uber's board of directors has approved the deal, a person said, though the plans could still be subject to change. Like other travel- and transportation-related businesses, Uber's ride-hailing segm...

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Tesla is now worth more than Toyota, Disney and Coke

Tesla is now worth more than Toyota, Disney and Coke

Tesla pushed to keep its California factory open, and while demand is still virus-affected, the US market is mature and no longer showing the growth that would move the company out of its niche. Are y...

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Victoria border to close

Victoria border to close

He said it had followed talks with Prime Minister Scott Morrison and NSW Premier Gladys Berejiklian, both of whom have previously said border closures weren't necessary. Victoria - home to more than 6...

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Developers cancel Atlantic Coast Pipeline project

Developers cancel Atlantic Coast Pipeline project

District Court for the District of Montana blocking a major pipeline permitting program. The project has drawn fierce opposition from a coalition of landowners, activists and environmental advocates...

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