Money
Oil Drops With IEA Demand Outlook Pointing to Weakness Ahead
- August 14, 2020
In its monthly oil market report , the Paris-based group now projects global demand will shrink to 91.1 million barrels per day, a drop of 8.1 million barrels per day year-over-year - and a reduction of 140,000 barrels per day from its estimate last month. (more...)
- August 14, 2020
In its monthly oil market report , the Paris-based group now projects global demand will shrink to 91.1 million barrels per day, a drop of 8.1 million barrels per day year-over-year - and a reduction of 140,000 barrels per day from its estimate last month. (more...)
Trump administration labels China's Confucius Institutes as 'foreign mission'
- August 14, 2020
The Peoples Republic of China has taken advantage of Americas openness to undertake large-scale and well-funded propaganda efforts and influence operations in this country, Secretary of State Mike Pompeo said in a statement . In June, the State Department announced it would start treating four major Chinese media outlets as foreign embassies, calling them mouthpieces for Beijing. (more...)
- August 14, 2020
The Peoples Republic of China has taken advantage of Americas openness to undertake large-scale and well-funded propaganda efforts and influence operations in this country, Secretary of State Mike Pompeo said in a statement . In June, the State Department announced it would start treating four major Chinese media outlets as foreign embassies, calling them mouthpieces for Beijing. (more...)
Hyundai launches new Elantra with N Line and hybrid electric models
- August 14, 2020
No changes have been made to the side profile, but the vehicle does get a new set of sleek 18-inch alloy wheels. The real highlight here, however, can be found under the hood. Somewhat similar to BMW's M Performance models, Hyundai's N Line cars are a step up from the standard vehicle in terms of styling and performance, but are not as extreme as full-fledged N models. (more...)
- August 14, 2020
No changes have been made to the side profile, but the vehicle does get a new set of sleek 18-inch alloy wheels. The real highlight here, however, can be found under the hood. Somewhat similar to BMW's M Performance models, Hyundai's N Line cars are a step up from the standard vehicle in terms of styling and performance, but are not as extreme as full-fledged N models. (more...)
Northern Ireland will face effects of recession for years, economist warns
- August 14, 2020
It is Britain's first recession since 2009 and the performance is the worst of the so-called Group of Seven richest countries in the world over the same period. He said: 'Hundreds of thousands of people have already lost their jobs, and sadly in the coming months many more will'. Sunak said he is ending the program in October because it gives "false hope" to furloughed workers and hinders them from getting new jobs as their skills decline. (more...)
- August 14, 2020
It is Britain's first recession since 2009 and the performance is the worst of the so-called Group of Seven richest countries in the world over the same period. He said: 'Hundreds of thousands of people have already lost their jobs, and sadly in the coming months many more will'. Sunak said he is ending the program in October because it gives "false hope" to furloughed workers and hinders them from getting new jobs as their skills decline. (more...)
Have gold prices reached their peak?
- August 14, 2020
Silver Futures have hit a lifetime high of Rs 77,949 in last Friday's session. Domestic gold futures fell as much as 2.05 per cent - or Rs 1,126 - to Rs 53,820 during the session. Jain is of the view that at MCX , Gold has support placed at Rs 54,440 on a closing basis, if prices sustain above Rs 55,000, could extend the gains towards Rs 55,330-55,550 levels. (more...)
- August 14, 2020
Silver Futures have hit a lifetime high of Rs 77,949 in last Friday's session. Domestic gold futures fell as much as 2.05 per cent - or Rs 1,126 - to Rs 53,820 during the session. Jain is of the view that at MCX , Gold has support placed at Rs 54,440 on a closing basis, if prices sustain above Rs 55,000, could extend the gains towards Rs 55,330-55,550 levels. (more...)
Ontario's Projected Deficit to Nearly Double to $29 Billion
- August 14, 2020
The shorthand version of that in Ontario which, along with Quebec, is the epicentre of the COVID-19 outbreak in Canada, is that the province is drowning in an ocean of red ink. The snapshot of Ontario's public finances does reflect, however, the interaction between the provinces and the federal government during the pandemic. (more...)
- August 14, 2020
The shorthand version of that in Ontario which, along with Quebec, is the epicentre of the COVID-19 outbreak in Canada, is that the province is drowning in an ocean of red ink. The snapshot of Ontario's public finances does reflect, however, the interaction between the provinces and the federal government during the pandemic. (more...)
Australia's jobless figure tops a million amid Covid-19 pandemic
- August 14, 2020
Part-time employment rose by 71,200, beating the rise in full-time employment of 43,500. In Queensland, unemployment spiked 1.1 per cent as the total number of employed people dropped by 3,700. The participation rate increased 0.6 percentage points in July to 64.7%. "The requirement to actively seek work to continue receiving JobSeeker being reintroduced in early August, the unemployment rate is set to track higher", Dr Hunter said. (more...)
- August 14, 2020
Part-time employment rose by 71,200, beating the rise in full-time employment of 43,500. In Queensland, unemployment spiked 1.1 per cent as the total number of employed people dropped by 3,700. The participation rate increased 0.6 percentage points in July to 64.7%. "The requirement to actively seek work to continue receiving JobSeeker being reintroduced in early August, the unemployment rate is set to track higher", Dr Hunter said. (more...)
PM Johnson to stress United Kingdom unity on Northern Ireland visit
- August 13, 2020
Prime Minister Boris Johnson at Hillsborough Castle during his visit to Belfast. The Taoiseach said he was looking forward to a warm engagement with Mr Johnson as the two countries face challenges posed by Brexit and the Covid-19 pandemic. (more...)
- August 13, 2020
Prime Minister Boris Johnson at Hillsborough Castle during his visit to Belfast. The Taoiseach said he was looking forward to a warm engagement with Mr Johnson as the two countries face challenges posed by Brexit and the Covid-19 pandemic. (more...)
McDonald’s sues ex-CEO over claims of more staff relationships
- August 13, 2020
McDonald's explained that it was unaware of these photographs before July 2020, when it discovered them in the course of investigating the allegations regarding Easterbrook and a second employee. But the fast-food giant is asking the court to award it with the compensatory damages. In an employee memo on Monday, Kempczinski said McDonald's does not tolerate behavior inconsistent with its values and that Easterbrook's conduct "deviated from our values in different and far more extensive ... (more...)
- August 13, 2020
McDonald's explained that it was unaware of these photographs before July 2020, when it discovered them in the course of investigating the allegations regarding Easterbrook and a second employee. But the fast-food giant is asking the court to award it with the compensatory damages. In an employee memo on Monday, Kempczinski said McDonald's does not tolerate behavior inconsistent with its values and that Easterbrook's conduct "deviated from our values in different and far more extensive ... (more...)
Disney Confirms ‘Mulan’ China Theatrical Release
- August 13, 2020
With its release on Disney+ just a few weeks away, we have a new trailer and updated poster for the live action version of Mulan . Those who purchase the premiere access to Mulan will get the ability to rewatch the movie for as long as they maintain their Disney+ subscription. (more...)
- August 13, 2020
With its release on Disney+ just a few weeks away, we have a new trailer and updated poster for the live action version of Mulan . Those who purchase the premiere access to Mulan will get the ability to rewatch the movie for as long as they maintain their Disney+ subscription. (more...)
Time jobless claims fall below 1M for the first time since March
- August 13, 2020
The Labor Department news release , posted Thursday morning, recorded 963,000 weekly initial jobless claims , a figure that beat economists' predictions of 1.1 million. Continuing claims, the number of people receiving benefits after an initial week of aid fell by 604,000 to 15.48 million. Other figures similarly point to the slow pace of the USA recovery . (more...)
- August 13, 2020
The Labor Department news release , posted Thursday morning, recorded 963,000 weekly initial jobless claims , a figure that beat economists' predictions of 1.1 million. Continuing claims, the number of people receiving benefits after an initial week of aid fell by 604,000 to 15.48 million. Other figures similarly point to the slow pace of the USA recovery . (more...)
Google reportedly tells employees to keep working from home until July 2021
- August 13, 2020
The move will affect almost 200,000 full-time and contract employees of Google and Alphabet. Alphabet and Google CEO Sundar Pichai told Google employees on Monday the company is extending its global voluntary work-from-home option through June 30, 2021 for roles that don't require employees to be in the office. (more...)
- August 13, 2020
The move will affect almost 200,000 full-time and contract employees of Google and Alphabet. Alphabet and Google CEO Sundar Pichai told Google employees on Monday the company is extending its global voluntary work-from-home option through June 30, 2021 for roles that don't require employees to be in the office. (more...)
PM Modi launches Transparent Taxation platform for honest taxpayers
- August 13, 2020
The charter will ensure trust between a taxpayer and the administration and reduce harassment, as well as increase efficiency of the department, Finance Minister Nirmala Sitharman had said in her Budget speech. Last year, corporate tax rates were reduced from 30 per cent to 22 per cent, and for new manufacturing units, the rates were reduced to 15 per cent, it said. (more...)
- August 13, 2020
The charter will ensure trust between a taxpayer and the administration and reduce harassment, as well as increase efficiency of the department, Finance Minister Nirmala Sitharman had said in her Budget speech. Last year, corporate tax rates were reduced from 30 per cent to 22 per cent, and for new manufacturing units, the rates were reduced to 15 per cent, it said. (more...)
Mnuchin's latest overture to Pelosi goes nowhere and relief talks stall again
- August 13, 2020
There is speculation that the orders will be challenged in court, while Democrats have decried them as unconstitutional as Congress controls funding. Mitch McConnell on Tuesday urged the White House and congressional Democrats to restart negotiations on the next COVID-19 relief bill after talks broke down last week. (more...)
- August 13, 2020
There is speculation that the orders will be challenged in court, while Democrats have decried them as unconstitutional as Congress controls funding. Mitch McConnell on Tuesday urged the White House and congressional Democrats to restart negotiations on the next COVID-19 relief bill after talks broke down last week. (more...)
Britain officially entered record recession in second quarter
- August 13, 2020
This is the first official recession , defined as two quarters of straight economic decline, since the dark events of 2009. While numerous lockdown restrictions have since been eased, the country faces a tough time in coming months, with unemployment likely to spike as the government phases out a support program that has effectively kept almost 10 million workers on company payrolls. (more...)
- August 13, 2020
This is the first official recession , defined as two quarters of straight economic decline, since the dark events of 2009. While numerous lockdown restrictions have since been eased, the country faces a tough time in coming months, with unemployment likely to spike as the government phases out a support program that has effectively kept almost 10 million workers on company payrolls. (more...)
CEOs form group to boost minority hiring in NY
- August 13, 2020
CEOs of American icons ranging from JPMorgan Chase to Amazon and Microsoft are banding together to employ more people from marginalized communities in New York City. " Many New Yorkers are actually embeded low-paying work that might be dropped later on or even are actually having a hard time to get through the effort market" throughout the astronomical, Dimon stated in the launch. (more...)
- August 13, 2020
CEOs of American icons ranging from JPMorgan Chase to Amazon and Microsoft are banding together to employ more people from marginalized communities in New York City. " Many New Yorkers are actually embeded low-paying work that might be dropped later on or even are actually having a hard time to get through the effort market" throughout the astronomical, Dimon stated in the launch. (more...)
Uber, Lyft Required to Classify Drivers as Employees
- August 13, 2020
If the ride-hailing companies are forced to permanently reclassify drivers under AB 5-which went into effect at the start of this year-they could be required to provide workers with protections and benefits including minimum wage , overtime, paid sick leave, disability, healthcare, and unemployment insurance . (more...)
- August 13, 2020
If the ride-hailing companies are forced to permanently reclassify drivers under AB 5-which went into effect at the start of this year-they could be required to provide workers with protections and benefits including minimum wage , overtime, paid sick leave, disability, healthcare, and unemployment insurance . (more...)
Coronavirus: UK economy officially enters recession after record 20.4% contraction
- August 13, 2020
As GDP had already declined by 2 percent in the first quarter, Germany's economy met the definition of a recession: two consecutive quarters of contracting GDP. The grim figures come after ONS data on Tuesday showed around 730,000 jobs have been lost since the lockdown began in March, while employment also dropped by the largest quarterly amount for 11 years between May and June. (more...)
- August 13, 2020
As GDP had already declined by 2 percent in the first quarter, Germany's economy met the definition of a recession: two consecutive quarters of contracting GDP. The grim figures come after ONS data on Tuesday showed around 730,000 jobs have been lost since the lockdown began in March, while employment also dropped by the largest quarterly amount for 11 years between May and June. (more...)
Core US Producer-Price Gauge Accelerates From a Year Ago
- August 13, 2020
Excluding volatile food and fuel costs, the so-called core CPI - viewed by policy makers as a more reliable gauge of price trends - rose 0.6% from the prior month, the biggest jump in nearly three decades, after a 0.2% increase in June. Goods prices shot up 0.8%. Beef prices tumbled 8.2% after surging in recent months. "This makes it even harder to cover the costs of the basics of food and shelter", tweeted Diane Swonk , chief economist at Grant Thornton. (more...)
- August 13, 2020
Excluding volatile food and fuel costs, the so-called core CPI - viewed by policy makers as a more reliable gauge of price trends - rose 0.6% from the prior month, the biggest jump in nearly three decades, after a 0.2% increase in June. Goods prices shot up 0.8%. Beef prices tumbled 8.2% after surging in recent months. "This makes it even harder to cover the costs of the basics of food and shelter", tweeted Diane Swonk , chief economist at Grant Thornton. (more...)
Tesla splitting stock to make richly-valued shares attainable again
- August 13, 2020
The company said: "the Board of Directors has approved and declared a five-for-one split of Tesla's common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors". At the time of writing, during after hours trade, it is sitting at $US1,463.23 per share. Ideally, this should put some buying pressure on Tesla stock as smaller investors flock to buy, but, as always, nothing is guaranteed. (more...)
- August 13, 2020
The company said: "the Board of Directors has approved and declared a five-for-one split of Tesla's common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors". At the time of writing, during after hours trade, it is sitting at $US1,463.23 per share. Ideally, this should put some buying pressure on Tesla stock as smaller investors flock to buy, but, as always, nothing is guaranteed. (more...)
Latest news
Oil steadies as frail demand outlook tempers USA stock drawdown