Money


Boohoo surges after agencies find no modern slavery Boohoo surges after agencies find no modern slavery
- July 11, 2020

The Boohoo group chief executive, John Lyttle, said the board is taking the matters seriously, adding: "We will not hesitate to terminate any relationships where noncompliance with our code of conduct is found". It said it has already canceled contracts with two suppliers that were in breach of its policies. Boohoo issued a statement on Wednesday, saying it was "shocked and appalled" by the claims in The Sunday Times . (more...)
Rivian Lands Another $2.5 Billion; Biggest Investment Round To Date Rivian Lands Another $2.5 Billion; Biggest Investment Round To Date
- July 11, 2020

The R1T and R1S were supposed to go into production in 2020, but have been pushed back to early 2021, a timeline that still puts Rivian months, if not years ahead of its competitors. That term usually describex vehicles that can drive themselves but only when road conditions are favorable. The truck handled the scenarios with relative ease while utilizing its versatile air suspension system, climbing up high-grade hills covered in large rocks. (more...)
Canada adds almost 1 million jobs in June, blowing past estimates Canada adds almost 1 million jobs in June, blowing past estimates
- July 11, 2020

However, it's not all good news. Ontario saw the biggest gains in June with almost 378,000 jobs added during the month. Saskatchewan saw an increase of 30,300 jobs (seasonally adjusted), or 6.0 per cent, in June compared to May. As in May, even though more people found jobs, more people were also looking for work. Economists expect the report will show a bump in employment as a result, further recouping some of the approximately three million jobs lost over March and April. (more...)
USA stocks mostly up but volatile amid coronavirus worries USA stocks mostly up but volatile amid coronavirus worries
- July 11, 2020

Walgreens was the biggest laggard in the Dow, dropping 8.2% on weaker-than-expected earnings for the previous quarter. United Airlines finished flat after warning it could lay off as many as 36,000 workers on October 1 amid a deep industry-wide downturn due to the coronavirus. (more...)
COVID-19: B.C. economy grew by 118,000 jobs in June COVID-19: B.C. economy grew by 118,000 jobs in June
- July 10, 2020

Even though the province's unemployment rate remained unchanged, it did increase in its two largest cities. The June rate is up over two per cent from that in May, when it sat at 14.1 per cent, and almost triple that of June 2019. Despite more people re-entering the workforce, more people were also looking for work. The national unemployment rate was 12.3 per cent as 953,000 jobs were added in June across the country. (more...)
Florida insurance agent fired after Costco coronavirus mask confrontation Florida insurance agent fired after Costco coronavirus mask confrontation
- July 10, 2020

According to Twitter reports, one of the customers who was targeted said: "To give Costco the credit, they escorted him out and made me wait inside and monitored him until he left and then they sent someone with me to the auto to make sure I'm okay". (more...)
Supreme Court allows Trump's exemptions to ACA contraception rule Supreme Court allows Trump's exemptions to ACA contraception rule
- July 10, 2020

The decision was made because of two cases involving teachers at religious schools who claim they were discriminated again. Sen. Patty Murray, the top Democrat on the Senate's health committee, decried the ruling and called for Congress to act to restore the health care guarantees the Affordable Care Act put in place when it became law just over a decade ago. (more...)
Canada’s Budget Deficit Swells To $343 Billion Canada’s Budget Deficit Swells To $343 Billion
- July 10, 2020

In his fiscal update on Wednesday, Finance Minister Bill Morneau indicated that total government spending would balloon to $612 billion by 2021, almost double the $346 billion spent in 2019. "We have the highest unemployment rate in the G7". The CEWS, which effectively covers 75 per cent of employee wage costs for struggling businesses, is now expected to cost $82.3 billion, up from an initial estimate of $73 billion. (more...)
Musk says Tesla close to developing fully autonomous auto Musk says Tesla close to developing fully autonomous auto
- July 10, 2020

In April 2019, Musk stated that Tesla would probably develop a fully autonomous vehicle by the end of the year and that he would be "shocked" if that is not achieved by the end of 2020 at the latest. Fuelled by more robust-than-expected auto deliveries, shares of Tesla have surged about 40 for every cent in the past seven classes, elevating the company's current market capitalization to $259 billion US. (more...)
Several GOP Senators Plan To Skip The Republican National Convention Several GOP Senators Plan To Skip The Republican National Convention
- July 09, 2020

Mitt Romney (R-Utah), the nominating convention for President Trump is politically unsavory. To lure donors, Charlotte's convention planners offered an array of perks to big contributors, including exclusive campaign briefings, access to luxury skyboxes and priority bookings at premium hotels. (more...)
Muslim woman 'humiliated' when barista 'wrote Muslim woman 'humiliated' when barista 'wrote "ISIS" on her cup'
- July 09, 2020

The victim, Aishah , filed a complaint to the Department of Human Rights after the incident at a Starbucks inside a Target store in the U.S. state of Minnesota on July 1, according to BuzzFeed News . Across the country, he said, the terrorist group's name has been used to harass people of the Islamic faith. "This is not a simple mistake", he said. (more...)
Gold Prices In India Above Rs 49,000, Silver Above Rs 51,000/kg Gold Prices In India Above Rs 49,000, Silver Above Rs 51,000/kg
- July 09, 2020

In other precious metals, silver gained 0.4%, platinum steadied, and palladium rose 0.7%. Analysts see gold prices to hit up to Rs 55,000 per 10 grams by the end of this year. The next levels to watch are $1,810 and $1,825. "The economic slowdown and global growth forecast lower by International Monetary Fund also supported bullion", said Anuj Gupta, DVP Commodities and Currencies Research, Angel Broking Ltd. (more...)
Palantir Files for IPO Palantir Files for IPO
- July 09, 2020

Palantir Technologies Inc. said it filed confidentially with USA regulators for a public stock listing, taking a major step toward a market debut that has been many years in the making. The firm has yet to turn a earnings even with functioning with companies and governments all over the globe, in accordance to The Wall Road Journal . (more...)
Brooks Brothers Files For Bankruptcy Brooks Brothers Files For Bankruptcy
- July 09, 2020

Brooks Brothers said Wednesday that it will continue operations as it restructures and is looking to reopen shops that are not being closed permanently. "The good thing about Brooks Brothers: It's a very strong brand", he said. Brooks Brothers, the storied Manhattan clothier, is filing for bankruptcy protection. (more...)
Virus spike sees Australia's 2nd largest city return to lockdown Virus spike sees Australia's 2nd largest city return to lockdown
- July 09, 2020

Victoria State Premier Daniel Andrews announced the Melbourne lockdown on Tuesday after the state saw 191 new infections, its highest daily number since the pandemic began. New South Wales state has banned travel from the greater Melbourne area except under exceptional circumstances, and the passengers should have been required to self-isolate for two weeks. (more...)
United Airlines tells 36000 employees they might lose their jobs United Airlines tells 36000 employees they might lose their jobs
- July 09, 2020

The furloughs would begin on October 1, when a government-imposed ban on forced job cuts by airlines that accepted billions of dollars in federal payroll aid expires. Air travel plunged about 95% from March 1 until mid-April, then began a slow recovery. The number of USA air travelers around the July 4 weekend was the highest since mid-March, but was still down about 70% from a year ago. (more...)
Nasdaq ends at record high as Wall St rises with tech shares Nasdaq ends at record high as Wall St rises with tech shares
- July 09, 2020

Equity markets have seesawed in recent trading sessions as investors weigh the impact of gradual global economic reopenings against the surging COVID-19 case count in a number of US states. Biogen Inc jumped 4.4% after the company said it submitted the marketing application for its experimental Alzheimer's disease therapy, aducanumab. National General shares surged 65.8%. (more...)
Oil down with more Covid-19 cases in key USA states Oil down with more Covid-19 cases in key USA states
- July 08, 2020

Brent crude LCOc1 rose 18 cents, or 0.4%, to $42.98 a barrel by 0252 GMT after a 4.3% gain last week, while US West Texas Intermediate crude CLc1 was at $40.42, down 23 cents, or 0.6%, from its previous settlement on Thursday. Tomorrow, traders will have a chance to evaluate the new API Crude Oil Stock Change report which will show whether the increase of demand puts pressure on crude inventories. (more...)
Facebook civil rights audit: 'Serious setbacks' mar progress Facebook civil rights audit: 'Serious setbacks' mar progress
- July 08, 2020

Another person on the call, Rashad Robinson of Color of Change, tells the Times, "They showed up to the meeting expecting an A for attendance". The new new audit was commissioned two years ago by Facebook from Laura Murphy, a civil rights activist, and the law firm Relman Colfax. (more...)
Wall St ends lower after strong recent rally as COVID cases mount Wall St ends lower after strong recent rally as COVID cases mount
- July 08, 2020

At 12:50 p.m. ET, the Dow Jones Industrial Average was down 199.94 points, or 0.76%, at 26,087.09, the S&P 500 was down 7.91 points, or 0.25%, at 3,171.81. More than 2.9 million confirmed COVID-19 cases have been reported in the United States, with over 130,000 deaths, as of Tuesday morning local time, according to the Center for Systems Science and Engineering at Johns Hopkins University. (more...)

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