Money


EBRD, IFC to boost lira loans after Turkey eases swap rules EBRD, IFC to boost lira loans after Turkey eases swap rules
- August 10, 2020

The agency last week also announced that it had exempted worldwide development banks from several restrictions on access to Turkish lira liquidity. Dragging on the Turkish markets, the lira currency deprecated as much as 3% on Thursday, its biggest single-day decline since March 2019, and it has lost 18% of its value this year, the Wall Street Journal reports. (more...)
Power outages hit parts of Manhattan Power outages hit parts of Manhattan
- August 10, 2020

Interestingly, NY1 reports that the loss of power was not related to the earlier and continued outages this week in Queens that are attributed to heavy winds from the aforementioned Tropical Storm. Videos from PIX11's James Ford in Harlem showed blocks of nearly total darkness in the Harlem area during the outages. More than 60,000 customers in the boroughs of Queens, Staten Island and the Bronx were still without power Friday and Con Edison says many of them won't have electricity until ... (more...)
More red and jumbo onions recalled due to Salmonella More red and jumbo onions recalled due to Salmonella
- August 10, 2020

Nationally 640 people have been infected in 43 states in the outbreak. Taylor Farms has not received any reports of illnesses to date associated with its recalled items, which include its Marketside Fajita Stir Fry, Marketside Diced Yellow Onion, Marketside Diced Mirepoix and Taylor Farms Chicken Salad Croissant Sandwich sold at Walmart . (more...)
Microsoft’s TikTok deal a ‘poisoned chalice’: Bill Gates Microsoft’s TikTok deal a ‘poisoned chalice’: Bill Gates
- August 10, 2020

But when Mr. Trump told reporters aboard Air Force One on July 31 that he planned to ban TikTok , the companies were caught off guard and paused their discussions until they had more clarity about Mr. operations, which was also criticised by Gates. Gates, who is also technology advisor at Microsoft, isn't at all happy about the TikTok development. "I concur that the principle this is continuing on is singly weird. (more...)
Another COVID-free day for Vancouver Island, 47 new cases across BC Another COVID-free day for Vancouver Island, 47 new cases across BC
- August 10, 2020

Health officials in British Columbia say private parties are contributing to a spike in COVID-19 cases. Dr. Henry says that she understands the concerns many parents across the province may have when it comes to having to send their kids back to school in the fall, however, says that it is essential for students. (more...)
Trump's orders to extend certain COVID-19 relief draw criticism from Democrats Trump's orders to extend certain COVID-19 relief draw criticism from Democrats
- August 09, 2020

One day after President Donald Trump attempted to solve Congress' impasse over additional coronavirus relief spending by signing a series of executive actions , Senate Minority Leader Chuck Schumer described the directives as "faulty", "unworkable", "weak" and "far too narrow" a solution to address the needs of millions of out-of-work Americans. (more...)
Oil On Track for Weekly Gain After Stumbling on Demand Doubts Oil On Track for Weekly Gain After Stumbling on Demand Doubts
- August 09, 2020

Analysts had expected an inventory decline of 3.267 million barrels for the week. Despite some signs of reassuring news on the economic front, rising numbers of coronavirus cases continued to derail any progress and keep the markets nervous. (more...)
Profit up 87% at Buffett's Berkshire, but coronvirus slows businesses Profit up 87% at Buffett's Berkshire, but coronvirus slows businesses
- August 09, 2020

Second-quarter operating profit fell to $5.51 billion from $6.14 billion a year earlier. Berkshire was reportedly holding $147 billion cash and short term investments in the second quarter, of which, $5.1 billion was used by Warren Buffett to repurchase Berkshire shares. (more...)
Canon is hit by massive ransomware attack Canon is hit by massive ransomware attack
- August 09, 2020

While Canon works its way through issues with its latest hot camera releases , it's also grappling with what appears to be two separate website-related failures: it has lost "some" customer image files from its relatively new image.canon cloud storage service; and most of its USA-based website infrastructure is, at time of writing, offline due to a ransomware attack . (more...)
PM to launch financing facility under Agriculture Infrastructure Fund PM to launch financing facility under Agriculture Infrastructure Fund
- August 09, 2020

The fund has been launched in a bid to make farmers self-reliant under PM Modi's clarion of an "Atmanirbhar Bharat" (self-reliant India). He also thanked the Prime Minister for transferring 17 thousand crore rupees to the accounts of 8.5 Crore farmers under "PM-Kisan" for the development of agriculture sector and rural areas. (more...)
COVID-19 cluster in Brandon growing, 5 new cases in Winnipeg COVID-19 cluster in Brandon growing, 5 new cases in Winnipeg
- August 09, 2020

Health officials haven't seen evidence of transmission within the plant so far, he said. The union, which represents almost 2,000 workers at the plant, is renewing its call to have the company halt production there until the situation is under control. (more...)
Job growth slows in July Job growth slows in July
- August 09, 2020

However, the Labor Department said some workers continue to be misclassified in the survey, and the jobless rate actually would have been a full point higher than reported. The S&P 500 index .SPX is up almost 50% from its March trough. Over 258,000 retail jobs were added in the month of July, with over half of these jobs being added in clothing and clothing accessory stores, the BLS said. (more...)
Canada's Salmonella Onion Situation Is Growing With Another New Brand Recalled
- August 09, 2020

The U.S. Food and Drug Administration announced the recall Thursday, citing concerns that the products made with yellow and green onions could be contaminated by salmonella . If you don't know where the onions in your pantry originally came from, it's time to throw them in the trash. If there isn't one, don't take a chance. (more...)
Cadillac's first electric vehicle goes after Tesla Cadillac's first electric vehicle goes after Tesla
- August 09, 2020

It's the first model with the new Ultium technology that we were shown, although its launch is still some 2.5 years away from now, which is probably the weakest point in the project. The Ultium system is based on a flat underfloor battery pack designed around the idea of using the smallest number of the largest cells as possible. (more...)
Wall St struggles for direction as Congress wrangles over stimulus Wall St struggles for direction as Congress wrangles over stimulus
- August 09, 2020

The S&P index recorded 28 new 52-week highs and no new low, while the Nasdaq recorded 97 new highs and six new lows. Economic data released on Thursday painted a mixed picture as Labor Department numbers showed a first fall in jobless claims in three weeks, while a separate report showed a 54% surge in job cuts announced by employers in July. (more...)
Former Los Angeles Angels employee charged in pitcher Tyler Skaggs' fatal overdose Former Los Angeles Angels employee charged in pitcher Tyler Skaggs' fatal overdose
- August 09, 2020

Skaggs, 27, was found dead in his hotel room in the Dallas area on July 1, 2019, before the start of what was supposed to be a four-game series against the Texas Rangers. The Angels issued a statement Friday stating that the team was unaware of Skaggs' opioid use and were unaware that one of their employees had been supplying players with drugs. (more...)
Delhi govt. announces up to Rs. 1.5 lakh subsidy on EVs Delhi govt. announces up to Rs. 1.5 lakh subsidy on EVs
- August 09, 2020

To be valid for three years from now, the policy will be reviewed from time-to-time and the Delhi government hopes to add five lakh EVs on Delhi roads within the next five years. The focus will also be on infrastructure development as the government expects 5 lakh vehicles to be registered in the next 5 years. As a first, a scrapping incentive will also be provided for people who replace vehicles that run on fossil fuels with EVs. (more...)
Uber's Food Delivery Business Surpasses Rideshare in Q2 Uber's Food Delivery Business Surpasses Rideshare in Q2
- August 08, 2020

He withdrew that forecast in April, however, because of the health crisis. The delivery operations under Uber Eats meanwhile saw revenues more than double to $1.2 billion - and overtake rideshare revenue in the three months ending in June. (more...)
Congressional Democrats, White House see little progress in coronavirus relief talks Congressional Democrats, White House see little progress in coronavirus relief talks
- August 08, 2020

House Speaker Nancy Pelosi said Friday that Democrats were willing to compromise at $2 trillion for the fourth coronavirus stimulus package, but that the Trump administration rejected their offer. The state aid has been a particular sticking point with Trump, which he opposes and emphasised in a tweet yesterday. In a dear colleague letter sent out during the press conference , Pelosi said that Meadows and Mnuchin offered only $150 billion to Democrats' desired $915 billion in direct ... (more...)
Beirut Explosion Rocks Wedding as Bride’s Parents Walk Down the Aisle Beirut Explosion Rocks Wedding as Bride’s Parents Walk Down the Aisle
- August 08, 2020

The blast at Beirut's port killed more than 150 and devastated swaths of the city, as rescuers continue to desperately comb the rubble for survivors. Damaged hospitals, already strained by the coronavirus pandemic, are still struggling to deal with the wounded. On Friday, the leader of the Lebanese Islamist political party and militant group Hezbollah denied accusations that it had weapons stored at Beirut port, adding that he supported the government's investigation. (more...)

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