Money


British Airways branded a 'national disgrace' by MPs British Airways branded a 'national disgrace' by MPs
- June 15, 2020

The row with unions shows no prospect of ending, despite the minimum consultation period for redundancies ending tomorrow. The home secretary, Priti Patel, has said the rules are guided by the science and necessary to help prevent a potential second wave of coronavirus. (more...)
Oil prices down with worries over second COVID-19 wave Oil prices down with worries over second COVID-19 wave
- June 15, 2020

Oil was little changed on Friday and logged a first weekly decline since April as new US coronavirus cases spiked, stoking fears of a second wave of the virus hitting fuel demand . While the fall in the oil market was evident, some independent analysts believe that it was a result of a speculation and market panic considering the sharp build up in the US commercial inventory, and the long-term prospect of oil would depend upon the demand from China and many other oil-consuming nations. (more...)
European Union to purchase of 300 million COVID-19 vaccine doses European Union to purchase of 300 million COVID-19 vaccine doses
- June 15, 2020

The researchers at AstraZeneca have started a large-scale clinical trial in which the vaccine will be tested on 10,000 people. "With our European supply chain due to begin production soon, we hope to make the vaccine available widely and rapidly", said Pascal Soriot, Chief Executive Officer of the AstraZeneca in a statement . (more...)
Band-Aid announces plans to release racially diverse range of bandages Band-Aid announces plans to release racially diverse range of bandages
- June 14, 2020

In the comment section of Band Aid's Wednesday announcement, some Instagram users - apparently unfamiliar with the company's defunct Perfect Blend line - questioned why multi-shade Band Aids weren't previously available. In 2005, Band-Aid launched "perfect blend" bandages that were created to work with a wide array of skin tones, although they were eventually discontinued, a spokesperson told NBC . (more...)
Syria's Assad sacks PM Khamis as economic crisis grows Syria's Assad sacks PM Khamis as economic crisis grows
- June 14, 2020

According to the official note, without further details, the new head of the Government , is the current Minister of Hydraulic Resources, Hussein Arnous . "Revolution, freedom, social justice", dozens of protesters shouted, in slogans reminiscent of the 2011 uprising whose repression sparked a civil war that has killed more than 380,000 people. (more...)
AstraZeneca agrees to make COVID-19 vaccine for Europe AstraZeneca agrees to make COVID-19 vaccine for Europe
- June 14, 2020

Aside from that, according to AstraZeneca's Saturday's statement, released late on the day, the British-Swedish biopharmaceutical, whose R&D (Research and Development) centres were mostly based on Cambridge, Maryland, Gaithersburg and Molndal in Sweden, had signed itself up for a contract of 400 million doses of pandemic vaccine developed by the University of Oxford, while the British-Swedish drugmaker had also added that it had been looking towards a potential expansion of its pandemic ... (more...)
Coronavirus: Safe for the public to shop again - Sunak Coronavirus: Safe for the public to shop again - Sunak
- June 14, 2020

There have been warnings that any maintaining of the two-metre rule, along with a closing of the furlough scheme, could be a "horrendous" situation for the hospitality sector. "You are right to highlight the impact it has on business - it is the difference between maybe three-quarters and a third of pubs opening, for example, so it is important the we look at it". (more...)
Petrol prices breach ₹75-mark in Delhi in seventh consecutive hike Petrol prices breach ₹75-mark in Delhi in seventh consecutive hike
- June 14, 2020

Petrol price in Delhi was hiked to Rs 75.78 per litre from Rs 75.16 while diesel rates were increased to Rs 74.03 per litre from Rs 73.39, according to a price notification of state oil marketing companies. India's demand for fuel doubled in May and has been steadily rising in June with the easing of restrictions. Prices of transportation fuel were halted under the dynamic pricing policy after March 16 and post that there were few instances of price hike only when the respective state ... (more...)
Competition watchdog launches probe into Facebook’s £320m Giphy takeover Competition watchdog launches probe into Facebook’s £320m Giphy takeover
- June 14, 2020

Though there is not yet a formal probe, the Competition and Markets Authority (CMA) this week served Facebook with an initial enforcement order and on Friday took the first steps in starting an investigation, inviting comments on the transaction from any interested party. (more...)
Trump signals desire to punish Microsoft for anti-facial recognition stance Trump signals desire to punish Microsoft for anti-facial recognition stance
- June 14, 2020

IBM no longer sells facial recognition products at all. However, Grenell seems to think that Microsoft's announcement is grounds for punishment. Microsoft has quietly been dismantling facial recognition databases. Smith made the decision public after rival Amazon on Wednesday announced to apply the brakes on its facial recognition technology called "Rekognition" for police for one year, in the wake of potential misuse of the technology by the cops as racial protests gained ... (more...)
Company agrees to make COVID-19 vaccine for Europe Company agrees to make COVID-19 vaccine for Europe
- June 14, 2020

AstraZeneca Plc., the British-Swedish multinational biopharmaceutical company headquartered in Cambridge, UK, said in a statement on Saturday that the UK-based pharmaceutical company had signed off an accord with the European Governments according to which the British-Swedish drugmaker would be supplying 400 million doses of pandemic vaccines into the bloc, pointing towards a potential development in the global-scale squabble against the pandemic outbreak. (more...)
College athletes in Florida can get paid starting next year College athletes in Florida can get paid starting next year
- June 14, 2020

We continue to get closer and closer to a world where college athletes can make money without ramifications from the NCAA. It does, however, allow athletes to be compensated by third parties in other ways, such as through endorsements and sponsored social media posts. (more...)
Mark Zuckerberg questioned by Democrats over Facebook's policies for Donald Trump's posts Mark Zuckerberg questioned by Democrats over Facebook's policies for Donald Trump's posts
- June 14, 2020

Twitter notably flagged one of Mr. Trump's tweets about mail-in voting for violating the platform's policy against misinformation, as well as another post about shooting looters that the company's flagged for inciting violence; Snap , Snapchat's parent company, subsequently said it would stop promoting Mr. (more...)
PM Modi to interact with CMs on June 16-17 PM Modi to interact with CMs on June 16-17
- June 14, 2020

The COVID-19 situation in Delhi was discussed and projections for two months were analysed. According to reports , the PM will interact with CMs of 21 states/UT on June 16 and June 17 via video-conference. Home Minister Amit Shah, Health Minister Harsh Vardhan and the principal secretary to PM Modi, among others, attended the meeting. Mr Modi advised the Health Ministry to ensure suitable preparations in view of the start of the Monsoon season. (more...)
The U.S. Treasury: The country cannot shut down economy again The U.S. Treasury: The country cannot shut down economy again
- June 14, 2020

Treasury Secretary Steve Mnuchin said in a Thursday interview with CNBC that the USA can't shut down its economy again. "I do think the economy is going to rebound significantly, but there is still significant damage in parts of the economy", Mnuchin said. (more...)
TSX falls as energy sector drops, US Fed issues bleak forecast TSX falls as energy sector drops, US Fed issues bleak forecast
- June 14, 2020

The Canadian dollar shrank 1.14 cents at 73.42 cents U.S. Among real-estate interests, units of Dream Office REIT leaped $1.02, or 5%, to $21.25, while Canadian Apartment REIT hiked $2.11, or 4.5%, to $49.00. The S&P 500 rose 76.68 points, or 2.55 percent, to 3,078.78. All three notched their worst week since March 20. USA stocks opened noticeably higher on Friday as Wall Street was trying to rebound from prior session's steep sell-off. (more...)
Cess on petrol and diesel increased by Rs 1 in Madhya Pradesh Cess on petrol and diesel increased by Rs 1 in Madhya Pradesh
- June 14, 2020

The former union minister said petrol was selling at Rs 71.41 in Delhi on May 1, 2014, when worldwide crude oil prices were $106.85, while on June 12, 2020, the price of petrol was Rs 75.16 when the crude oil was at $38. There were few instances of price hike only when the respective state governments hiked Value-Added Tax or cess. The total incidence of excise duty on petrol has risen to Rs 32.98 per litre and that on diesel to Rs 31.83. (more...)
Bankrupt Hertz OK to sell $1B in new shares Bankrupt Hertz OK to sell $1B in new shares
- June 13, 2020

The exchange made the decision after Hertz disclosed on May 22 that it has commenced voluntary petitions for reorganization under chapter 11 of the Bankruptcy Code. A share offering would avoid new interest, fees and restrictions on Hertz's finances and wouldn't impose any claims from a bankruptcy loan that would outrank existing creditors, the company said. (more...)
Over 31,000 local jobs supported by government Over 31,000 local jobs supported by government
- June 13, 2020

The scheme now provides employers with financial support up to 80 per cent of salary, up to a maximum of £2,500 per month per employee, plus the associated Employer National Insurance contributions and pension contributions (up to the level of the minimum automatic enrolment employer pension contribution) on that subsidised furlough pay. (more...)
Moderna on track for large COVID-19 vaccine test in July Moderna on track for large COVID-19 vaccine test in July
- June 13, 2020

Four EU countries have signed a contract with pharmaceutical company AstraZeneca to produce enough Oxford University vaccines to rid the continent of Covid-19 infections, the Italian health minister said. "We look forward to beginning our Phase 3 study of mRNA-1273", said Tal Zaks, MD, PhD, Chief Medical Officer at Moderna, referring to the COVID-19 vaccine's code name. (more...)

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