Money


Germany bans Tesla from claiming Germany bans Tesla from claiming "self-driving" features
- July 19, 2020

But the technology still requires the driver to remain alert at all times. German law does not allow fully autonomous driving. "A legal framework for autonomous inner-city driving doesn't even exist yet in Germany", lawyer Andreas Ottfuelling said recently of the matter, "and other functions aren't working yet as advertised". (more...)
Instagram's Reels Feature In Its Trial Phase In India Post TikTok Ban Instagram's Reels Feature In Its Trial Phase In India Post TikTok Ban
- July 18, 2020

The launch of Reels could be good news for countries such as the United States and Australia who are considering banning TikTok . This feature appears to be quite similar to that of TikTok , which recently got banned along with 58 other apps including its alikes, namely, Vigo Video, Like, Helo, owing to the recent Indo-China tensions. (more...)
International Business: China's economy first to rebound from virus crisis International Business: China's economy first to rebound from virus crisis
- July 18, 2020

China saw forecast-beating economic growth in the second quarter after a record contraction in the previous three months, as businesses cautiously returned to normality following lockdowns due to the COVID-19 pandemic. Retail sales fell by 2.8% during May. China's surveyed urban unemployment rate edged down to 5.7% (link in Chinese) in June from 5.9% the previous month, NBS data show. (more...)
The last landing for British Airways' 747 jumbo jets The last landing for British Airways' 747 jumbo jets
- July 18, 2020

The world's largest operator of Boeing 747s, British Airways , has announced that it will no longer operate the iconic aircraft as the travel industry suffers from the fallout of the coronavirus pandemic. In recent years, advances in technology made the four-engine 747 far pricier to operate than modern twin-engine planes. The current fleet of 28 747-400 jets started to be delivered in 1989 and had the last unit received in April 1999. (more...)
United Kingdom workers lost their jobs between March-June United Kingdom workers lost their jobs between March-June
- July 18, 2020

Trade Union Congress (TUC) general secretary Frances O'Grady warned: "There's a national disaster unfolding, with vacancies at an all-time low and more jobs lost every day". "We will never accept unemployment as an unavoidable outcome, which is why I established out our clear prepare final week to shield, support and make jobs". (more...)
Crude oil futures slip almost 1%, WTI trades below $41 a barrel Crude oil futures slip almost 1%, WTI trades below $41 a barrel
- July 18, 2020

On Thursday, the United States reported at least 75,000 new COVID-19 cases, a daily record. Both benchmark contracts lost just over 1% on Monday. US benchmark crude futures are having trouble breaking out of the tight trading range they've been in since early June. (more...)
Nissan introduces the new Ariya, electric crossover SUV Nissan introduces the new Ariya, electric crossover SUV
- July 18, 2020

The twin electric motors even improve ride quality, claims Nissan . However, Nissan has ruled out producing this new EV alongside the Leaf in the United Kingdom, and it will instead be built in Japan at the Tochigi facility, which produces more premium Nissan and Infiniti models, along with the GT-R and 370Z sports cars. (more...)
American Airlines to furlough 25000 employees in October American Airlines to furlough 25000 employees in October
- July 18, 2020

The WARN notices will go to 37% of American Airlines' flight attendants, or 9,950 individuals and to 2,500 of its pilots, or 18%, 3,200 upkeep workers and 4,500 fleet service workers, among others. American isn't the only US airline grappling with the indefinite hardship. Half this amount consists of grant aid, which covers airline payrolls and prevents layoffs through September 30. (more...)
Apple probably won't reopen its offices until 2021, report says Apple probably won't reopen its offices until 2021, report says
- July 17, 2020

O'Brien indicated that by working from home, Apple's employees will be able to continue attending to the needs of their customers, who are "really dependent upon their devices, especially right now". Amazon, which has been criticized for not doing enough to protect its warehouse workers during the pandemic, said in April that it was developing a Covid-19 testing lab and would start testing "small numbers of employees". (more...)
Amazon Extends Work From Home for Corporate Employees Until 2021
- July 17, 2020

The first of its Neighborhood Health Centers will be in the Dallas-Fort Worth area, where 20,000 Amazon employees, including 11,000 in operations, work, the company said. Some employees at a warehouse in Memphis, Tennessee, fault Amazon for ending the no-questions-asked leave and resent the fact that other employees can work from home. (more...)
Coronavirus: UK government to end 'work from home' guidance, giving employers discretion Coronavirus: UK government to end 'work from home' guidance, giving employers discretion
- July 17, 2020

The UK's official pandemic death toll, which stood at more than 45,000 as of Friday, has for several weeks been the highest in Europe and the third-highest in the world behind the United States and Brazil. The PM's easing of the work-from-home guidance potentially pits him against his chief scientific adviser, Sir Patrick Vallance, who earlier said there is "absolutely no reason" to change the advice. (more...)
Covid-19 crisis triggers new debate among Air India unions Covid-19 crisis triggers new debate among Air India unions
- July 17, 2020

According to the statement, "CMD under the scheme can also send the employee on leave for six months to two years and extend it to five years according to the order". Union Civil Aviation Minister Hardeep Singh Puri explained that the equity infusion of Rs 500-600 crore every year is not sustainable and cost-cutting in Air India is necessary to keep the operations functional. (more...)
Apple has €13bn Irish tax bill overturned Apple has €13bn Irish tax bill overturned
- July 17, 2020

She has recently launched antitrust probes into Apple, including over its app store rules. The commission ruled that Apple should pay €13bn in unpaid taxes, plus interest, back to Ireland . This ruling, however, may yet be appealed before the highest court in the EU, the Court of Justice of the European Union . EU Greens legislator Sven Giegold said the verdict "is a huge setback in the fight against tax dumping in Europe". (more...)
The drop in inflation has taken analysts by surprise - 16-Jul The drop in inflation has taken analysts by surprise - 16-Jul
- July 17, 2020

However, in April, it had revised the CPI data for the month of March to 5.84 per cent from 5.91 per cent . The UK's inflation rate rose to 0.6% during June, with the clothing and gaming industries mostly being responsible for the first rise of 2020. (more...)
S&P 500 and Nasdaq end lower after sharp drop in tech titans S&P 500 and Nasdaq end lower after sharp drop in tech titans
- July 17, 2020

He pointed to cautious forecasts from companies that see the economy possibly taking a step back because of worsening covid-19 trends, or at least taking longer to recover than expected. "The key issue now is concern about a new wave of infections and the potential impact on the economic recovery", said Andrew Hunter, senior USA economist at Capital Economics. (more...)
15 former female Washington Redskins employees claim sexual harassment, report says 15 former female Washington Redskins employees claim sexual harassment, report says
- July 17, 2020

Wilkinson, 57, is the founder of her firm Wilkinson Walsh + Eskovitz. In 2018, NBC News reported Wilkinson assisted then-Supreme Court nominee Brett Kavanaugh ahead of his meeting with Congress regarding the accusation of rape from Christine Blasey Ford. (more...)
Ottawa announces $19-billion in COVID-19 support for provinces and territories Ottawa announces $19-billion in COVID-19 support for provinces and territories
- July 17, 2020

The first of multiple parliamentary investigations of the federal government's aborted deal with WE Charity is to begin Thursday afternoon. "The non-partisan and professional public service made a clear recommendation that WE Charity was the organization that was able to deliver this program in the timeline that was needed", Chagger said. (more...)
Apple and Ireland win appeal of $14.4B European Union tax case
- July 16, 2020

At the time of the original decision, Apple CEO Tim Cook called the Commission's findings "wrongheaded", saying he hoped a court would overturn the decision. Some observers have expressed doubts on the Apple case, wondering whether the European Union was right to use antitrust law to crack down on tax optimization strategies by multinationals. (more...)
FCA to get a new name after merger with Peugeot
- July 16, 2020

The combined company will be called " Stellantis ", though it's a bit unclear as to why. The name Stellantis has roots in the Latin verb " stello ", which means to "to brighten with stars". I think STELLANTIS sounds more like a space colony than a vehicle company, but it's just a name. But with the completion of the merger project expected to happen sometime in Q1 of 2021, it might take a while before the final logo and design will be revealed as well. (more...)
AstraZeneca Rises on Report Positive Vaccine Results Coming AstraZeneca Rises on Report Positive Vaccine Results Coming
- July 16, 2020

Moderna's shares gained about 15% in USA pre-market trading Wednesday, as stocks of other companies researching vaccines for the virus also rose. Researchers said antibodies and white blood cells called T cells are being developed by people that are given the Oxford vaccine. (more...)

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