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...

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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...

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Labor Day gas prices are set to be lowest since 2004

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...

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Amazon downgrades 20,000 product reviews to fight false ratings

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...

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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...

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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...

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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...

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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 ...

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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...

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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...

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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...

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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...

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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...

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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...

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Another 881,000 USA workers file new unemployment claims

Another 881,000 USA workers file new unemployment claims

Nonetheless, the result was better than expected. But the overall employment rate dropped from 10.2% to 8.4%, marking the first time it has been under 10% since March, when the pandemic began taking a...

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Unemployment rate falls below 10% for first time since March

Unemployment rate falls below 10% for first time since March

In another encouraging trend, the number of people continuing to collect unemployment after earlier filing an initial claim dropped by 1.24 million to 13.325 million during the week ending August 22, ...

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Canada added 245,800 jobs in August

Canada added 245,800 jobs in August

The number of people who keep applying for unemployment aid each week point to a sluggish pace of improvement. The number of jobs lost due to the coronavirus shutdown continue to mount, with the ...

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France unveils €100-billion economy rescue plan

France unveils €100-billion economy rescue plan

The French government said jobs were the number one priority as it prepared to unleash a mammoth spending plan for the coronavirus-hit economy on Thursday. Similarly, the nascent hydrogen industry w...

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US trade deficit surges in July to highest in 12 years

US trade deficit surges in July to highest in 12 years

US exports rose by 8.1 percent to 168.1 billion USA dollars in July while imports increased by 10.9 percent to 231.7 billion dollars, the department said. For July, the deficit with China in goods tot...

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U.S. Companies Added Just 428000 Jobs Last Month

U.S. Companies Added Just 428000 Jobs Last Month

The moderation in job growth was also flagged by another report from the Federal Reserve on Wednesday showing furloughed workers increasingly being laid off permanently in some parts of the country. L...

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Coronavirus impact | Australia's economy takes sharpest dive since the 1930s

Coronavirus impact | Australia's economy takes sharpest dive since the 1930s

Previous to the pandemic, Australia's net debt was below 20 percent of GDP, substantially lower than most other countries, giving the government vital wiggle room. "Looking ahead, the economy will not...

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SoftBank mulls bid for TikTok's India operations

SoftBank mulls bid for TikTok's India operations

Representatives for TikTok did not immediately respond to a request for comment on Tuesday. The move followed President Donald Trump's effort to force a sale of TikTok's US operations by September 2...

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Jeep Wrangler 4xe: The Brand's First Electric Vehicle

Jeep Wrangler 4xe: The Brand's First Electric Vehicle

The world-renowned SUV maker hasn't yet offered an electrified model in the US beyond a small, mild-hybrid system to power accessories in some of its Jeeps . Whether or not that strategy will include...

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Budget deficit to hit record 3.3T due to virus recession

Budget deficit to hit record 3.3T due to virus recession

Overall debt is on track to surpass 100 percent of GDP next year, and break its World War II record by 2023, according to the CBO. By the end of 2020, the amount of debt owed by the USA will amount ...

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Eat Out to Help Out scheme needs extension, say small businesses

Eat Out to Help Out scheme needs extension, say small businesses

More than 64 million meals have been enjoyed by diners across the United Kingdom since the launch of the discount scheme at the beginning of August. Restaurants have called for the scheme to be exte...

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Dow tumbles 800 points on tech and economy woes

Dow tumbles 800 points on tech and economy woes

But investors are anxious the fall might turn into a deeper rout, with a crucial USA payrolls report due later on Friday seen as possible selling trigger if it disappoints. It is still up 28% for the ...

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Old Navy to Employees: We'll Pay You to Work the Polls

Old Navy to Employees: We'll Pay You to Work the Polls

Commissioners are considering raise poll worker wages as an incentive to get more people to apply for the job. A seventeen year old would be required to pre-register to vote, turn eighteen by the Ge...

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Maine unemployment claims increase slightly as layoffs continue

Maine unemployment claims increase slightly as layoffs continue

Before the pandemic struck the economy in March, the number of people seeking jobless aid had never topped 700,000 in a week, not even during the depths of the 2007-2009 Great Recession. American fact...

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CBO Sees U.S. Federal Debt Exceeding Size of Economy in 2021

Only a handful of counties have debts that exceed the size of their economies, including Japan, Italy and Greece. Federal deficits were projected to fall to $1.8tn in the fiscal year beginning Octob...

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Hyundai teases 4th generation Tucson, to premiere on September 15

Hyundai teases 4th generation Tucson, to premiere on September 15

The jewel-like grille looks quite attractive while the signature DRL units seamlessly flown in from either side. Based on an updated platform, the 2021 Hyundai Tucson has bigger proportions and is...

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Former PM Tony Abbott Calls For Lockdown And Travel Restrictions To End

Former PM Tony Abbott Calls For Lockdown And Travel Restrictions To End

He accused Mr Andrews of wanting to extend a "health dictatorship" by pushing for an extension of state of emergency powers in Victoria, a bill which passed in the Upper House overnight. An interview ...

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Livestock Carrier with 43 Crew Goes Missing Off Japan

Livestock Carrier with 43 Crew Goes Missing Off Japan

The New Zealand Ministry for Foreign Affairs and Trade says it's providing consular assistance but declined to comment further. A distress signal from the Gulf Livestock 1 vessel was received when...

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Woman Uncovers Perfectly Preserved McDonalds Burger & Fries from 1996

Woman Uncovers Perfectly Preserved McDonalds Burger & Fries from 1996

The 24-year-old McDonald's hamburger is dated from 1996. "The fries look like they maybe could've fallen under your seat a month or so ago that never rotted or decayed", she said (via Delish ). F...

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Tech stocks push S&P 500, Nasdaq to record highs at open

Tech stocks push S&P 500, Nasdaq to record highs at open

The indexes pared gains briefly before regaining ground in the late afternoon after the Federal Reserve's "Beige Book" report showed a modest increase in activity for USA businesses and an increase ...

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Australia's economy takes sharpest dive since the 1930s

Australia's economy takes sharpest dive since the 1930s

Five states - Maharashtra, Andhra Pradesh, Karnataka, Tamil Nadu and Uttar Pradesh - have accounted for over half of the total Covid-19 cases and close to 60 per cent of the recoveries, the minittry s...

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