Economy

Democrats formulating massive USA stimulus bill

Democrats formulating massive USA stimulus bill

The chamber passed a $3.4 trillion rescue measure in May, but Republicans dismissed it as bloated and unrealistic. A recent survey of congressional aides said they don't expect Congress to pass anot...

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End of CERB means uncertainty for some, new system for others

End of CERB means uncertainty for some, new system for others

In its place is employment insurance, which the government says the majority of people will go on, and a new suite of benefits that won't exist unless approved by Parliament. Now, Singh said the Liber...

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Brunswick Books Takeover Target William Hill - Fri., Sep. 25, 2020

Brunswick Books Takeover Target William Hill - Fri., Sep. 25, 2020

In a statement, William Hill stated that there are ongoing discussions between the respective parties, in which "there can be no certainty that any offer or deal terms will be made". operations, whi...

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BMW fined $18 mn in US over inflated sales data

BMW fined $18 mn in US over inflated sales data

The "inflated" sales figures helped to narrow the difference between the actual results and BMW's internal forecasts, and "publicly maintain a leading retail sales position relative to other premium a...

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Zero Avia completes first hydrogen-electric passenger flight

Zero Avia completes first hydrogen-electric passenger flight

ZeroAvia's next goal is to carry out a 250-300 nautical mile hydrogen-cell-powered flight from the Orkney Islands of the northern coast of Scotland. The demonstration range of the Orkey flight is ro...

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Morrisons in Netherfield reintroduces rationing as second wave panic-buying hits supermarkets

Morrisons in Netherfield reintroduces rationing as second wave panic-buying hits supermarkets

Panic-buying shoppers made an extra 42 million visits to supermarkets in just four days during the peak of the Covid-19 pandemic in March and supermarkets were left overwhelmed as panic-buying a...

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US durable-goods orders slow while business investment sturdy

US durable-goods orders slow while business investment sturdy

It was the fourth-consecutive monthly increase, but the most recent uptick was far weaker than July's 11.7% surge in orders to USA factories for big-ticket manufactured goods, the Commerce Department ...

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US Government Sanctions Chinese Chipmaker SMIC, FT Reports

US Government Sanctions Chinese Chipmaker SMIC, FT Reports

Suppliers of certain equipment to Semiconductor Manufacturing International Corporation will now have to apply for individual export licenses, according to a letter from the Commerce Department date...

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European Commission will keep fighting in $14.8 billion Apple tax battle

European Commission will keep fighting in $14.8 billion Apple tax battle

Besides, according to the EU's General Court ruling that went in favour of Apple Inc.in mid-July this year , the court had ruled that the EU Commission had wrongfully decided in 2016 that the Apple I...

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No Trick: Halloween Must be Different During COVID

No Trick: Halloween Must be Different During COVID

Fall is here and Saskatchewan has released its guidelines on the dos and don'ts for autumnal activities like Halloween and Thanksgiving, amid the COVID-19 pandemic. People have been creative enough to...

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United Airlines Begins Offering Passenger COVID-19 Tests

United Airlines Begins Offering Passenger COVID-19 Tests

On Friday, Hawaii Airlines announced that passengers traveling to Hawaii from Los Angeles (LAX) or the Bay Area would be able to use drive-through services at Worksite Labs locations near LAX and ...

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Mnuchin and Powell back jobless aid and small business loans

Mnuchin and Powell back jobless aid and small business loans

Congressional stimulus talks have stalled since early August with both political parties about US$1 trillion apart in their offers. "We didn't want to be deciding which companies to help", Powell s...

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Turkey hikes interest rate for first time since 2018

Turkey hikes interest rate for first time since 2018

In the previous three consecutive meetings, the bank kept the rate constant at 8.25%, following a gradual cut of 375 basis points from 12% over the preceding months. "With the lira steadily weakening ...

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Jobless claims will keep markets busy in US

Jobless claims will keep markets busy in US

The rise in claims is "further evidence of the slowing pace of economic recovery", Mohamed A. El-Erian of Allianz said on Twitter, noting the latest data went against analysts' expectation of a contin...

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HYUNDAI i30 N specs & photos

HYUNDAI i30 N specs & photos

It's unfortunate Hyundai Philippines doesn't offer the i30 N locally. They're made from premium leather and Alcantara, and feature an illuminated N logo on the headrest. Inside the cabin, it is larg...

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New Employment Plan Unveiled By Sunak To Replace The Furlough Scheme

New Employment Plan Unveiled By Sunak To Replace The Furlough Scheme

It claims it would cost more for an organisation to employ two part-time workers under the scheme than one full-time worker - based on the cost of continuing to employ the average previously-furloughe...

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General Motors, Bosch stick with Nikola alliances despite Milton’s exit

General Motors, Bosch stick with Nikola alliances despite Milton’s exit

The company named Stephen Girsky, former vice chairman of General Motors Co and a member of Nikola's board, to take over as chairman, as it strives to regain investors' confidence. Nikola founder Tr...

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Metal Traders Remain Wary on Strong US Dollar

Metal Traders Remain Wary on Strong US Dollar

Gold prices have climbed more than 20 per cent so far this year as central banks worldwide rolled out massive stimulus and slashed interest rates to near-zero to counter the economic damage from th...

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Tech shares lead as US stocks end week on positive note

Tech shares lead as US stocks end week on positive note

All the three major US stock indexes were on course for their fourth straight week of declines - their longest weekly losing streak since August 2019. USA durable goods orders grew by 0.4 per cent in ...

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More global investors will soon have access to China’s massive bond market

More global investors will soon have access to China’s massive bond market

Additional reforms are imminent, including the facility for global investors to register at legal-entity level when opening accounts. FTSE Russell, which is owned by the London Stock Exchange, decid...

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MTA workers suspended over secret 'man cave' at Grand Central

MTA workers suspended over secret 'man cave' at Grand Central

Investigators discovered the lounge in an unused locksmith shop in the station's lower level. Employed by Metro-North Railroad (MNR), the three workers have been suspended without pay pending resolu...

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Shopify data stolen by its own employees

Shopify data stolen by its own employees

Shopify is now the most valuable publicly traded Canadian company. "We have zero tolerance for platform abuse and will take action to preserve the confidence of our community and the integrity of our...

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Aurora Cannabis reports £20.42 million of adjusted EBITDA loss in Q4

Aurora Cannabis reports £20.42 million of adjusted EBITDA loss in Q4

Sign-up for the DMNnewsletter, today. Despite the hard framework conditions - customers are not prepared to pay Aurora's premium prices - the group is sticking to its goal of operating profitably in...

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Australia rolling back banking regulations to spur economy

Australia rolling back banking regulations to spur economy

CHOICE, Consumer Action Law Centre, Financial Counselling Australia and Financial Rights Legal Centre have responded to the Government's announcement that it will remove credit protections for borrowe...

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Major carmakers sue United States govt over tariffs on Chinese imports

Major carmakers sue United States govt over tariffs on Chinese imports

Tesla is suing the USA government due to the Trump administration's tariffs on various items that Tesla imports from China. The auto firm has filed a lawsuit in the Court of International Trade in ...

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Harley Davidson ends India operations, 70 employees to be laid off

Harley Davidson ends India operations, 70 employees to be laid off

The company said it now expects total restructuring costs of about $169 million in 2020, and this will also include a workforce reduction of about 70 employees in India, a market where its annual sale...

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Australian bank Westpac agrees to £720m fine for money laundering

Australian bank Westpac agrees to £720m fine for money laundering

I would like to apologize sincerely for the banks failings, King said in a statement. The fine, the largest levied against an Australian company, is more than the A$900 million Westpac had set asi...

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Government plans 10pm curfew for hospitality

Government plans 10pm curfew for hospitality

Only 7% of respondents said they were feeling optimistic about the prospects of the hospitality sector over the next 12 months, down from 23% in August and 19% in July when respondents were previously...

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Sunak considers German-style wage support

Sunak considers German-style wage support

Sunak has previously said he would be " creative " in finding a way to support jobs, and foreign minister Dominic Raab told Sky News earlier in the day that the government was looking at a range of ...

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California moves to end sales of new gas-powered cars by 2035

California moves to end sales of new gas-powered cars by 2035

Fifteen countries, including the U.K, have instituted similar policies. With extreme wildfires still burning in the state, Newsom says fighting climate change is an emergency. Emphasizing that Calif...

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Everything You Need To Know About The Queensland Border Opening

Everything You Need To Know About The Queensland Border Opening

A reopened border will be welcome news for rugby league fans, with Adelaide Oval set to host the State of Origin series opener between NSW and Queensland in November . "We're still looking at the mos...

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Hong Kong suspends Air India from operating flights till October 3

Hong Kong suspends Air India from operating flights till October 3

Hong Kong has again suspended the operation of Air India due to the increasing number of corona virus cases in the country. Many local outlets cited Hong Kong's Health Department as saying that the ...

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Airbus unveils three zero-emission aircraft concepts

Airbus unveils three zero-emission aircraft concepts

Boeing's European rival Airbus has presented three concepts for the world's first zero-emission plane, a move that the company's CEO Guillaume Faury called "a historic moment for the commercial avi...

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Quibi is reportedly exploring strategic options including a possible sale

Quibi is reportedly exploring strategic options including a possible sale

Quibi , the mobile subscription TV startup founded by Jeffrey Katzenberg , is exploring "strategic options" for the company including a potential sale, the Wall Street Journal reported . Last month,...

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HSBC and Standard Chartered fall on suspicious fund movement

HSBC and Standard Chartered fall on suspicious fund movement

Banks moved more than $2 trillion in transfers that their own compliance officers flagged as suspicious in around 2,100 filings with the U.S. Treasury's Financial Crimes Enforcement Network , or FinC...

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