Economy

Oil gains on U.S. stock draw, economic recovery optimism

Oil gains on U.S. stock draw, economic recovery optimism

While a gauge of China's services industry is at the strongest level since early 2018, according to the National Bureau of Statistics, countries around the world are struggling to contain the virus....

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Person Flying Jetpack 3000 Feet in the Air Stuns American Airlines Pilot

Person Flying Jetpack 3000 Feet in the Air Stuns American Airlines Pilot

Pilots coming into LAX airport in the Los Angeles area on Sunday reported something that sounded right out of a movie from nearby Hollywood. " We just passed a guy in a jet pack ", the Los Ang...

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Chinese Government Decides to Throw Wrench Into Potential TikTok U.S

Citing national security risks, POTUS gave the video-sharing company 90 days to find a United States buyer and requested that TikTok delete any data that it had obtained from its users. Then the Chi...

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McDonald's accused of discriminating against black franchise owners in lawsuit

McDonald's accused of discriminating against black franchise owners in lawsuit

The lawsuit alleges McDonald's misled these Black entrepreneurs and they were "denied equal opportunity to economic success by McDonald's systematic and covert racial discrimination". In 1983, a Black...

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Australian central bank keeps interest rate on hold at 0.25 pct

Australian central bank keeps interest rate on hold at 0.25 pct

RBA governor Philip Lowe said the term funding decision would help keep interest rates low for borrowers and help financial institutions provide credit. Wage and prices pressures are still subdued and...

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Post-Brexit trade deal with European Union 'will not be easy to achieve'

Post-Brexit trade deal with European Union 'will not be easy to achieve'

Mr Barnier is refusing to discuss other matters until the two issues are settled in the EU's favour. Following the seventh negotiating round on 21 August, Barnier again expressed disappointment and ...

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Canada contracts with Novavax for 76 million vaccine doses for 2021

Canada contracts with Novavax for 76 million vaccine doses for 2021

Last month, the World Health Organization sent a letter to its 194 member countries with a request to join the program, called Covax, aimed at providing global access to an eventual coronavirus diseas...

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Walmart to launch membership program similar to Amazon Prime this month

Walmart to launch membership program similar to Amazon Prime this month

Walmart's average basket size is also expected to expand as the average size of baskets more than doubles and delivery is nearly 3X. All Delivery Unlimited customers will be changed over to the ne...

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Biden denounces violence, but fumbled a chance to defuse riot issue

Biden denounces violence, but fumbled a chance to defuse riot issue

Trump's provocative appearance represents a bet that a hardline "law and order " campaign can drown out the pandemic that he has badly mismanaged , that has killed more than 180,000 Americans and on...

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Tesla to sell as much as $5bn of shares after stock surge

Shares of Tesla, up 61 percent since it announced its first-ever stock split in mid-August, closed at US$2213.40 on Friday. Tesla shares have gained more than 50% since it unveiled plans for the s...

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Rising export sales push China’s manufacturing activity to near 10-year highs

Rising export sales push China’s manufacturing activity to near 10-year highs

Output and new orders rise at solid and accelerated rates. The upbeat findings contrasted with an official survey on Monday, which showed China's factory activity grew at a slightly slower pace in A...

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White House: Trump Willing to Sign $1.3T Coronavirus Bill

White House: Trump Willing to Sign $1.3T Coronavirus Bill

Talks between Pelosi and the White House stalled earlier this month, with both sides accusing one another of refusing to make a deal. Even before the call with Meadows, Pelosi told Capitol Hill rep...

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Portugal could be added to quarantine list after rise in Covid cases

Portugal could be added to quarantine list after rise in Covid cases

However, one airline boss has warned that putting Portugal back on the quarantine list for the United Kingdom will cause "further chaos and hardship for travellers". On Friday, Portugal reported i...

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Zoom Clocks In Monstrous +355% Revenue Growth

Zoom Clocks In Monstrous +355% Revenue Growth

Net income attributable to common stockholders rose to US$185.7 million, or 63 cents per share , from $5.5 million, or 2 cents per share, a year earlier. The company said more customers are signing u...

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Hospitality industry: Hotel and casino group MGM Resorts lays off 18000

Hospitality industry: Hotel and casino group MGM Resorts lays off 18000

MGM said that federal law requires the company to send layoff notices to employees that have been furloughed for six months. Thousands of MGM Resorts employees will lose their jobs effective August ...

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Economy: steepest GDP decline on record

Economy: steepest GDP decline on record

The steep dip in Asia's third-largest economy in the June-ended quarter reflected the impact of a months-long nationwide shutdown that saw most industrial and manufacturing activity grind to a halt....

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Fed's Richard Clarida: Rates Won't Rise Just Because Unemployment Falls

Fed's Richard Clarida: Rates Won't Rise Just Because Unemployment Falls

Speaking at a virtual event hosted by the Peterson Institute for International Economics, the senior Fed official stressed that both the USA economy and the Fed's understanding of the economy have cle...

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U.S. election: Biden accuses 'weak' Trump of stoking violence

U.S. election: Biden accuses 'weak' Trump of stoking violence

The majority of independent voters in that group's polling were also receptive to the idea that the protests are no longer about racial injustice and instead have morphed into a platform for those who...

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Amazon gets FAA approval to fly Prime Air delivery drones

Amazon gets FAA approval to fly Prime Air delivery drones

The drones aren't quite ready to be deployed yet. The designation allows Amazon to begin commercial drone deliveries in the USA under a trial program. Other companies including Alphabet and UPS are ...

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Tesla, Apple stock parts clear route for additional increases

Tesla, Apple stock parts clear route for additional increases

Apple shares shot up more than 3% Monday following a 4-for-1 stock split that took place after the market closed Friday. With a stock split, companies want to make their share certificates cheaper a...

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Huawei ends longest-running sports sponsorship deal

Huawei ends longest-running sports sponsorship deal

The grand final is on October 25. The Raiders were the tech giant's first large-scale sporting sponsorship worldwide and Huawei has backed the club for nearly a decade, with its logo and name on the...

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Deferred Payroll Taxes to Be Paid in 2021

Deferred Payroll Taxes to Be Paid in 2021

Although President Trump wanted a payroll tax cut for 2020, the best he could get without Congressional action is a payroll tax deferral . Trump had ordered the tax deferral in early August...

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United Airlines Is Permanently Eliminating Most Change Fees

United Airlines Is Permanently Eliminating Most Change Fees

Why It Matters: The move comes at a time when the novel coronavirus (COVID-19) pandemic has rattled the industry , with demand for air travel dropping signficantly. It received $5 billion in taxpa...

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Tech powers S&P 500 to record closing

Tech powers S&P 500 to record closing

United States stocks closed modestly higher Friday, with the Dow Jones Industrial Average erasing its losses for the year to date and the S&P 500 and Nasdaq indexes carving out fresh record closes. Sp...

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India's GDP Drops By 23.9%, Sharpest Contraction On Record

India's GDP Drops By 23.9%, Sharpest Contraction On Record

The economy is expected to contract mainly because the quarter saw more than two months of pan-India lockdown, imposed to contain the spread of coronavirus , bringing the nation's economy to a stands...

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Tesla autopilot driver was watching movie when he crashed, police say

Tesla autopilot driver was watching movie when he crashed, police say

After the Tesla slammed into the Nash County Sheriff's deputy's vehicle, the impact sent the vehicle into the trooper's vehicle, knocking both the cops to the ground. Other small updates for some ...

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Berkshire Buys Up Stakes in 5 Storied Japanese Companies

Berkshire Buys Up Stakes in 5 Storied Japanese Companies

Berkshire Hathaway Chairman and Chief Executive Officer Warren Buffett, who turned age 90 on August 30, announced that his company has acquired a 5% stake in each of the five leading Japanese trading ...

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Triller said to have made $20b bid with Centricus for TikTok assets

Triller said to have made $20b bid with Centricus for TikTok assets

ByteDance has been ordered by President Donald Trump to divest short video app TikTok - which is challenging the order - in the United States amid security concerns over the personal data it handles...

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CenturyLink reports internet outage across the US

A spokesperson for Cloudflare also confirmed the outage. In a later update Cloudflare said it had "identified an issue with a transit provider " as the cause of the issue, and that it was working o...

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Gold rallies Rs 743, silver jumps Rs 3,615

Gold rallies Rs 743, silver jumps Rs 3,615

Back in India, prices of 24K and 22K gold are Rs. 51360 and Rs. 50360, respectively per 10 gm. The precious metal had closed at Rs 52,407 per 10 grams in Thursday's (August 27) trade. Silver prices ...

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Autonomous Ford Escape Demo Vehicles Can Valet Park Themselves

Autonomous Ford Escape Demo Vehicles Can Valet Park Themselves

The same sensors can identify and avoid pedestrians and other hazards, and will autonomously park the vehicle. The demonstration announced today is located in Assembly Garage, a parking structure in...

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Japan’s ‘flying car’ takes off with a person on board

Japan’s ‘flying car’ takes off with a person on board

There was technical staff on the ground that monitors the condition and performance of the aircraft during the flight. "In designing an unexplored, new genre of transportation known as the flying au...

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Reliance Retail acquires Future Group’s retail business for ₹24,713 crore

Reliance Retail acquires Future Group’s retail business for ₹24,713 crore

Compared to its last closing price of Rs 135.20 (49 percent premium), this values the Future Retail at Rs 202. The current sale may see Biyani's stake substantially reduced in some of the companie...

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Boeing woes mount with manufacturing defect found in Dreamliners

Boeing woes mount with manufacturing defect found in Dreamliners

The defects were found in the join of fuselage sections toward the rear of the aircraft, and the FAA has been alerted. "We determined that eight airplanes in the delivered fleet are affected by both...

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NZ stock exchange halted by cyberattacks again

NZ stock exchange halted by cyberattacks again

The 204 billion New Zealand dollar ($135 billion) market, which is nearing a record high, has been the target of distributed-denial-of-service attacks that have overwhelmed its website and forced tr...

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