Money


U.K. Furlough Scheme Extended to End of October U.K. Furlough Scheme Extended to End of October
- May 14, 2020

Then from August to October, the scheme will continue for all sectors and regions of the United Kingdom but with greater flexibility to support the transition back to work. As we reopen the economy, we need to support people to get back to work. We will do so in a measured way. The Chancellor of the Exchequer has announced that the Coronavirus Job Retention Scheme (CJRS) will remain open until the end of October 2020. (more...)
India’s Covid-19 stimulus package nearly equal to Pakistan’s GDP India’s Covid-19 stimulus package nearly equal to Pakistan’s GDP
- May 14, 2020

Sitharaman said the reforms seek to make the country self-reliant, not to make it an isolated entity. It comes as governments and central banks in other countries around the world have provided unprecedented levels of support for their economies to tackle the crisis. (more...)
Men Arrested Over Face Mask Brawl in California Store Men Arrested Over Face Mask Brawl in California Store
- May 14, 2020

Police identified the two suspects as Phillip Hamilton, 31, and Paul Hamilton, 29. The two men were reportedly confronted on May 1 for not wearing masks within the Van Nuys store, which is now required during the coronavirus pandemic. "This is the fourth incident in Van Nuys where we have people confront people not wearing a mask", LAPD Lt. Jim Gavin said. The pair were booked on the suspicion of felony battery and were released on May 5. (more...)
California officials capitulate to Elon Musk, allow Tesla plant to reopen California officials capitulate to Elon Musk, allow Tesla plant to reopen
- May 14, 2020

It appears the dispute between Tesla and San Francisco Bay Area authorities over the reopening of a factory in the face of shutdown orders is coming to an end. Tesla could be legally cleared to scale up operations at its auto factory in Fremont, California as soon as next week. Tesla workers told the Guardian that they feel that Tesla's management is using intimidation tactics in order to force them to return to the job by threatening to cut their pay and unemployment benefits. (more...)
UK Government Extends Furlough Scheme By Four Months UK Government Extends Furlough Scheme By Four Months
- May 13, 2020

Currently, furloughed staff may not work. He said: "We will have to seen what all the details are, but it is good that this support will remain to prevent a major increase in unemployment. The extension of the government's Coronavirus Job Retention Scheme has received a welcome from all sectors with employers and unions alike agreeing that the policy is a sound one. (more...)
Tesla defies officials, reopens California Gigafactory Tesla defies officials, reopens California Gigafactory
- May 13, 2020

Gov. Gavin Newsom, a former mayor of San Francisco, said Monday that he has had a years-long relationship with Musk, noting that Tesla is "a company that this state has substantively supported for now many, many years" and said he anticipated the relationship would continue. (more...)
Fed Chair Warns Of Prolonged Recession From Coronavirus Pandemic
- May 13, 2020

In a bullish development for the whole precious metal segment, gold continues to stay above $1700 per ounce. The S&P/TSX Composite Index was flat, the S&P 500 fell 0.2 per cent, the Dow Jones Industrial Average shed 0.4 per cent of its value and the Nasdaq Composite Index was up 0.1 per cent. (more...)
Bitcoin undergoes third 'halving', falls vs U.S. dollar Bitcoin undergoes third 'halving', falls vs U.S. dollar
- May 13, 2020

Miners solve complex mathematical puzzles using specialized software to clear blocks of transactions and generate new Bitcoins. The current reward stands at 12.5 bitcoins, or BTC , so that will now be reduced to 6.25 BTC. Supporters of the cryptocurrency say that this scarcity is part of what underpins its value and makes it a potential safe haven against currencies that are vulnerable to devaluation during times of economic crisis. (more...)
Next-gen Mercedes-Benz S-Class (W223) pictures leaked Next-gen Mercedes-Benz S-Class (W223) pictures leaked
- May 13, 2020

The headlamps look more compact and much more appealing than those of the old model . This design is reminiscent of the new Mercedes CLS (Coupe) and Mercedes CLA (Coupe & Shooting Brake). The centre console is a fully digital virtual one, created by a portrait-style touchscreen tablet that sort of floats out from the floor console. If you didn't realize it by now, we'll tell you in words that the interior of the upcoming Mercedes S-Class has been designed on the lines of the Mercedes ... (more...)
United Kingdom economy shrinks 2% in first quarter before full lockdown United Kingdom economy shrinks 2% in first quarter before full lockdown
- May 13, 2020

Britain's second-quarter contraction is meanwhile expected to be far steeper than the first, tipping the country into recession - which is defined as two successive quarters of contraction. Chancellor Rishi Sunak has said it is "very likely" that the United Kingdom will face a "significant recession" as a result of the coronavirus crisis. (more...)
Australia's treasurer Josh Frydenberg tested for coronavirus after coughing fit during speech Australia's treasurer Josh Frydenberg tested for coronavirus after coughing fit during speech
- May 13, 2020

He tweeted this morning saying he had received the test result, which said he had not been infected. Treasurer Josh Frydenberg tested negative for Covid-19 after his coughing fit at Parliament House. The results of the test are expected Wednesday. "They provide a psychological boost as well". As of Tuesday, the country recorded 6,964 confirmed cases, with just 97 deaths. (more...)
Indian airline IndiGo sees Virgin Australia 2.0 as low-priced carrier
- May 13, 2020

InterGlobe Enterprises, the Indian conglomerate that holds the largest share in the Indian airline IndiGo , has shown interest in bidding for Virgin Australia Holdings Ltd. Deloitte is looking for indicative bids by Friday and binding offers in June, aiming to finalise a deal by the end of the month, Bloomberg reports. (more...)
Twitter employees can work from home 'forever' if they want, CEO says Twitter employees can work from home 'forever' if they want, CEO says
- May 13, 2020

Twitter told employees to start working from home in March , but the offer doesn't extend to employees whose jobs mandate that they return to the office, like those tasked with server maintenance. "It will be careful, intentional, office by office and gradual", it added. "Opening offices will be our decision, when and if our employees come back will be theirs", the spokesperson said. (more...)
Consumer Price Index posts largest decline since 2008 Consumer Price Index posts largest decline since 2008
- May 13, 2020

Compared with April of past year, the core CPI rose 1.4 per cent, the smallest annual gain since 2011. "In the month of April, 2020, price data was largely collected by telephonic enquiry from the designated outlets". In the 12 months through April, the core CPI rose 1.4 percent after advancing 2.1 percent in March. Those all contributed to the unprecedented drop in the core index. (more...)
Chancellor sets out radical employment support package to protect jobs Chancellor sets out radical employment support package to protect jobs
- May 12, 2020

Universal Credit, a benefit system for the United Kingdom has also been raised by £1,000 per year for a year, while Value-Added Tax is suspended for the next quarter, with nothing being due until June and will have til the end of the year to repay. (more...)
Twitter to let some employees to work from home permanently
- May 12, 2020

Visit Business Insider's homepage for more stories . The social network's CEO on Tuesday emailed his staff to say that employees whose jobs permit it will be allowed to work remotely forever - even after the coronavirus pandemic is over. "I don't fear any slowness as we work to distribute our workforce now, and I do think we have to build a company that's not entirely dependent on San Francisco", Dorsey said during a February earnings call. (more...)
IRS sets deadline for relief payment by direct deposit IRS sets deadline for relief payment by direct deposit
- May 12, 2020

People who aren't required to file tax returns - such as those who receive Social Security, disability and veterans benefits - will automatically receive their payments the same way they typically get their federal benefits. "The vast majority of payments have been delivered in record time, and millions more are on the way every week". A survey last month found tens of millions of Americans who were forced out of the workforce as a result of the outbreak were still unable to receive jobless ... (more...)
Be Vocal for Local: PM Modi urges India to Buy Local Products Be Vocal for Local: PM Modi urges India to Buy Local Products
- May 12, 2020

Modi's 8 PM addresses are notorious to ring in one or another unusual announcement. "This package will comprise land, labour, liquidity and laws". This package is for migrants and farmers who work for the nation day and night, no matter the circumstances. (more...)
Richard Branson to sell Virgin Galactic stake to save airline Richard Branson to sell Virgin Galactic stake to save airline
- May 12, 2020

Its value has almost double since its October initial public offering from $2.3 billion to $4.3 billion. Shares in the venture, which aims to offer the first commercial space flight later this year, were down 3.1 percent late on Monday. Not-so sunny days for Richard Branson after the collapse of his airline. Branson said in a public letter last month that he doesn't have much cash on hand to put into his struggling investments, citing a record of extracting little "significant" profit ... (more...)
Rishi Sunak extends UK's COVID-19 job saving scheme to October Rishi Sunak extends UK's COVID-19 job saving scheme to October
- May 12, 2020

The four-month extension will have "greater flexibility to support the transition back to work", according to a tweet from Sunak. He said the government backed workers and companies going into the lockdown, and would support them coming out. (more...)

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