Money


British retail sales rebound above pre-pandemic levels British retail sales rebound above pre-pandemic levels
- August 23, 2020

This week, the economy has continued to see peaks and troughs, as the bumpy road to post-pandemic recovery continues. Excluding the auto component, retail sales rose 15.7%. Public debt has now reached £2tn making it 100.5% of gross domestic product (GDP) for the first time since March 1961. Sunak admitted that the figures show that the pandemic has put the country's public finances under "significant strain" and stressed that action has been taken by his Treasury department to offer ... (more...)
Lunaz complements range with electric vintage cars Lunaz complements range with electric vintage cars
- August 23, 2020

We are proud to make a classic Rolls-Royce relevant to a new generation'. The battery tech is being kept a secret, but we're assured each RR Phantom V will have capacity for home and rapid charging and will be treated to modern tech, applied here in a subtle way. (more...)
Longtime Amazon executive Jeff Wilke to retire next year Longtime Amazon executive Jeff Wilke to retire next year
- August 23, 2020

Wilke started his career with Amazon in 1999 and assumed the position of CEO of the worldwide consumer unit in 2013. Amazon.com Inc AMZN .O on Friday said its longtime executive and consumer chief Jeff Wilke plans to retire after more than two decades with the company, a decision that appeared to take him out of line to succeed CEO and founder Jeff Bezos . (more...)
Existing home sales sweep past expectations in July Existing home sales sweep past expectations in July
- August 23, 2020

Buoyed by record low mortgage rates and an influx of remote workers seeking more living space , existing home sales surged by a record setting 24.7% month-over-month in July with prices hitting an all-time high, according to the National Association of Realtors (NAR). (more...)
Liberals rolling out $37B income support plan to replace CERB Liberals rolling out $37B income support plan to replace CERB
- August 23, 2020

It will be replaced by a new benefit that provides $400 per week for a maximum of 26 weeks for people who are not eligible for EI. She says the CERB extension was needed to provide some certainty and continuity. Qualtrough said the federal government will table legislation to create these benefits during the first week when the House of Commons resumes sitting on September 23rd. (more...)
NY mother kicked off flight after toddler refused mask NY mother kicked off flight after toddler refused mask
- August 22, 2020

In accordance to the corporate's Journey Alerts web page, which was up to date at 2 p.m. Wednesday, "All vacationers 2 years and older should wear a face masking over their nostril and mouth all through their journey, together with throughout check-in, boarding, whereas in flight and deplaning". (more...)
COVID-19 Vaccine: Russia Eyes Partnership With India For Producing Sputnik V COVID-19 Vaccine: Russia Eyes Partnership With India For Producing Sputnik V
- August 22, 2020

According to authorities, the country is capable of producing 500 million doses of the vaccine in the next 12 months, while a total of 1 billion doses have been requested by over 20 countries. "We have entered into an agreement with the World Health Organization to reserve Lebanon's share of the possible vaccine for coronavirus, and coordination is underway with Russia to secure a package of the Russian vaccine", Hasan said. (more...)
Turkey finds large gas reserve in Black Sea Turkey finds large gas reserve in Black Sea
- August 22, 2020

The president said Turkey's drilling ship Fatih had found some 320 billion cubic meters (11.3 trillion cubic feet) of natural gas in the western Black Sea. If Turkey can extract the gas commercially, it will be able to reduce its reliance on imported energy. "Warships from both North Atlantic Treaty Organisation members have been shadowing each other after Turkey sent a research ship to look for potential undersea oil and gas deposits in disputed waters", DW reported on Friday. (more...)
Airbnb bans parties in home rentals worldwide, caps occupancy at 16 Airbnb bans parties in home rentals worldwide, caps occupancy at 16
- August 22, 2020

Last year, the home rental platform brought in a global ban on "party houses" ⁠- listings that created a persistent nuisance for neighbours. The company cited various public health mandates on gatherings in different countries and pointed out that some customers have chosen to "take bar and club behaviour to homes, sometimes rented through our platforms". (more...)
TikTok pulls 380000 videos in U.S. for hate content TikTok pulls 380000 videos in U.S. for hate content
- August 22, 2020

The order essentially imposes a 45-day deadline (till September 15) for Tiktok to sell its American business to an American company. "We want to create an environment in which users can continue using TikTok , in which they can use it safely", said Nakayama, adding that the group will not seek to ban TikTok if substantial measures are taken. (more...)
CERB is transitioning to EI. What does that mean? CERB is transitioning to EI. What does that mean?
- August 22, 2020

A screenshot of the landing page for the federal government's Canada Emergency Student Benefit website. As of early August, more than four million individuals have moved off CERB and have returned to the workforce. Applications for the new recovery benefits are scheduled to open in October, with payments expected to flow in three to five days. Changes to the EI benefits include more flexibility in the number of hours needed to qualify. (more...)
European Union warns Brexit deal unlikely as talks deliver no progress European Union warns Brexit deal unlikely as talks deliver no progress
- August 22, 2020

Michel Barnier, the EU's chief Brexit negotiator, looked visibly perturbed on Friday when discussing this week's trade deal negotiations, accusing the United Kingdom of not showing "willingness to move forward". Earlier this week, a United Kingdom government spokesman said that Boris Johnson's government was hoping to reach an agreement by the end of September. (more...)
Gold tumbles 3% as FOMC minutes lift dollar, US Treasury yields Gold tumbles 3% as FOMC minutes lift dollar, US Treasury yields
- August 22, 2020

Federal Reserve policy meeting lifted the greenback off a two-year low. Gold prices plunged by Rs 1,492 to Rs 52,819 per 10 grams on Thursday in the national capital in line with sell-off in worldwide prices of the precious metal, according to HDFC Securities . (more...)
Cupertino’s Apple reaches $2 trillion in market cap as tech fortunes feather Cupertino’s Apple reaches $2 trillion in market cap as tech fortunes feather
- August 21, 2020

This makes Apple the richest company in the world based on the stock market value, followed closely by Amazon , Microsoft , and Google. It was only in 2018 that Apple became the first company of the United States of America to publicly record and release stock market value of $1 trillion. (more...)
Another 1.1 million US workers file new unemployment claims Another 1.1 million US workers file new unemployment claims
- August 21, 2020

The Labor Department said claims rose to 1.1 million, ahead of economists forecasts of 925,000. The report reflected the first increase in new jobless claims in three weeks. Official employment numbers suggest the USA economy has regained 9.3 million of the 22 million jobs lost between February and April. All in all, 28,059,349 Americans were receiving state or federal benefits during the week, a decrease of 197,601 from the previous week. (more...)
Airbnb Submits Draft Paperwork for Long-Rumored IPO Airbnb Submits Draft Paperwork for Long-Rumored IPO
- August 21, 2020

What Happened: Airbnb , after earlier reports this month that it would go forward with an IPO , filed paperwork with the SEC Wednesday. Airbnb says it hasn't decided how many shares to sell, or what valuation it will seek. Airbnb's level of bookings are still down on where they were previous year, but the company has been talking up a recovery. In the second quarter, 38 IPOs raised $15 billion, Renaissance Capital said . (more...)
House Speaker Pelosi says she opposes smaller coronavirus relief bill House Speaker Pelosi says she opposes smaller coronavirus relief bill
- August 21, 2020

However, Drew Hammill, a spokesman for Pelosi, said she was referring to meeting Republicans "halfway, not cutting our bill in half". Any agreement isn't likely to be reached before September. "Lawmakers from both parties are growing increasingly anxious by the stalemate over a coronavirus aid package, but internal divisions on each side are complicating their efforts to propose new measures", The Wall Street Journal reported Wednesday evening. (more...)
EU Rejects Post-Brexit Deal on Returning Illegals, Trade Talks Deadlocked
- August 21, 2020

This covers some of the migrants now crossing the English Channel from France in small boats, but once the United Kingdom leaves the EU's institutions at the end of the present transition period on December 31st, 2020, that arrangement comes to an end - meaning that there may be no structure to return the thousands of illegals who have left French shores for Britain. (more...)
Global travel will not resume until mid-2021, Qantas says Global travel will not resume until mid-2021, Qantas says
- August 21, 2020

Qantas took about A$2.8 billion worth of one-off charges alongside its results, which included a writedown of A$1.4 billion on its Airbus A380 fleet, which is parked in the Mojave desert. "Looking further ahead, we're in a good position to ride out this storm and make the most of the recovery". "At least 6000 of our people will leave the business through no fault of their own, and thousands more will be stood down for a long time". (more...)
North Korean leader's sister is 'de facto second-in-command', South Korean lawmaker says North Korean leader's sister is 'de facto second-in-command', South Korean lawmaker says
- August 21, 2020

The UN Security Council, US, EU and others have imposed sanctions on the North over its banned nuclear weapons and ballistic missile programmes, which have made rapid progress under Kim's leadership. "Ahead of the 75th Anniversary of the Foundation of the Workers Party (on October 10), with no tangible (policy) accomplishments, he has been increasing public activities since July", it was quoted as saying. (more...)

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