Money


France Slams UK's France Slams UK's "Intransigent" And "Unrealistic" Approach To Brexit
- September 02, 2020

EU Brexit negotiator Michel Barnier is in London for informal talks with his United Kingdom opposite number, David Frost. Mr Roth told Euro-MPs that no progress had been made for "quite some time" and accused the United Kingdom of "moving away from what we had agreed on a long time ago as the basis for the negotiations". (more...)
White House slams World Health Organization over criticism of push for COVID-19 vaccine White House slams World Health Organization over criticism of push for COVID-19 vaccine
- September 01, 2020

This means Canada will soon have "at least" 88 million doses. Njoo says it is not clear how what percentage of Canadians need to get a vaccine to achieve broad immunity but he says it is important for as many as possible to get vaccinated. (more...)
Biden blames Trump for Biden blames Trump for "stoking violence in our cities" in Pittsburgh speech
- September 01, 2020

If Trump talking about Democratic rivals being "puppets" rings a bell, he and Hillary Clinton swapped that accusation in a 2016 debate - with Trump taking great umbrage at Clinton's charge that Russian President Vladimir Putin was trying to help him win the election. (more...)
Deferred Payroll Taxes to Be Paid in 2021 Deferred Payroll Taxes to Be Paid in 2021
- September 01, 2020

The White House has few good options as it gives companies guidance on how to implement Trump's August 8 order to delay the collection of the payroll taxes . Additionally, even where employees remain employed by the employer, employers may face backlash from employees experiencing a potential double deduction in Social Security taxes, particularly during a pandemic. (more...)
Airline chief warns over Portugal being placed on quarantine list Airline chief warns over Portugal being placed on quarantine list
- September 01, 2020

Portugal was only extra to Britain's "harmless checklist" on 22 August - following cases fell down below the threshold. Portugal has recorded 21.1 virus cases per 100,000 people in the past week, which is up from 19.4 the previous seven days. (more...)
MGM Cuts 18,000 Furloughed Workers; Shares Rise MGM Cuts 18,000 Furloughed Workers; Shares Rise
- September 01, 2020

Hornbuckle also says that he understands the impact this will have on employees and their families and that the leadership team is working "around the clock" to find ways to grow back the business and bring back more colleagues. Those numbers represent only a fraction of the carnage across the US economy. Since late March, claims for unemployment benefits have exceeded 1 million in every week but one. (more...)
At -23.9% in Q1, worst-ever GDP contraction as lockdown bites At -23.9% in Q1, worst-ever GDP contraction as lockdown bites
- September 01, 2020

These steps include fiscal stimulus and free food for the poor while the central bank has pumped in funds but economists say more needs to be done to revive growth and provide a fresh lifeline to sectors hit hard by the pandemic. While the construction activity halved in first quarter, the manufacturing sector had a freefall. What is more important is the way the agriculture is doing better at 3.4% [growth]. (more...)
Amazon wins FAA approval for Prime Air delivery drones in the US Amazon wins FAA approval for Prime Air delivery drones in the US
- September 01, 2020

Federal Aviation Administration (FAA) that will allow it to start trialling commercial deliveries via drone, Bloomberg reports . CEO Jeff Bezos had aimed to launch the service within the next four to five years, but the firm was hit with a number of hurdles, such as hardware limitations and safety regulations. (more...)
Apple stock keeps climbing after 4-to-1 split Apple stock keeps climbing after 4-to-1 split
- September 01, 2020

Specifically, eToro believes that the value of Tesla and Apple shares could surge by more than a third in the year following the split. Robinhood and other brokerages increasingly let customers buy fractions of individual shares, making the benefit of stock splits less obvious than in the past. (more...)
Fed's Richard Clarida: Rates Won't Rise Just Because Unemployment Falls Fed's Richard Clarida: Rates Won't Rise Just Because Unemployment Falls
- August 31, 2020

The dollar fell to a more than two-year low Monday, as hopes the lower-for-longer interest rates will continue for a prolonged period were given a boost after Federal Reserve Vice Chairman Richard Clarida stressed the importance of the central bank's recent policy shift allowing inflation to run above target. (more...)
COVID-19 vaccine: Bangladesh's Beximco inks deal with Serum Institute COVID-19 vaccine: Bangladesh's Beximco inks deal with Serum Institute
- August 31, 2020

Detailing on vaccine trials, it said Novavax's candidate has shown higher levels of antibodies and viral neutralisation, about 5-6x HCS (Human Convalescent Sera) compared to AZ/Oxford's vaccine, which came close to average HCS levels. "We at Beximco have been able to guarantee that once the vaccine is globally registered, Bangladesh will be one of the first countries to use it", BPL principal Shayan F Rahman informed NDTV, including, "It is a sign of the depth of relationship not just between ... (more...)
Nestle in $2.6 Billion Deal for Allergy Treatment Maker Aimmune Nestle in $2.6 Billion Deal for Allergy Treatment Maker Aimmune
- August 31, 2020

The Swiss owner of Nespresso will pay $34.50 a share for the USA biotech firm, a 174% premium to the closing price on Friday. With Nestle's prior investment of $473 million, it would be making a cash payment of just under $2 billion, Nestle Health head Greg Behar told Reuters. (more...)
Asian stocks gain after Wall Street advances to record Asian stocks gain after Wall Street advances to record
- August 31, 2020

Low interest rates and massive amounts of bond purchases by the Fed have helped prop up the economy, and they're a central reason Wall Street has been able to recover from its almost 34% plunge earlier this year, even though the pandemic is still raging. (more...)
Indian economy likely to see record quarterly slump as pandemic hits Indian economy likely to see record quarterly slump as pandemic hits
- August 31, 2020

The CEA also pointed out that railway freight in July was at 95 per cent of July 2019 levels and it was 6 per cent higher in the first 26 days of August this year as compared to the same period last year. "The statistics office could announce GDP contraction of 17.5 per cent year-on-year, which could subsequently be revised to a 25 per cent contraction when the informal sector survey is available", mentioned Pranjul Bhandari, chief India economist at HSBC Holdings Plc.in Mumbai. (more...)
United Air Scraps Hated US Change Fees in Quest to Woo Flyers United Air Scraps Hated US Change Fees in Quest to Woo Flyers
- August 31, 2020

United customers, including holders of "Basic Economy" tickets and worldwide travelers, can already change flights at no cost through the rest of this year, under a program announced earlier, according to the company. United will retain global change fees that range from $150 to $400. American Airlines has said it will lose 40,000 employees, and Delta Airlines expects to involuntarily furlough 1,900 pilots. (more...)
Berkshire Hathaway Buys Stakes In Japanese Trading Companies Berkshire Hathaway Buys Stakes In Japanese Trading Companies
- August 31, 2020

Berkshire Hathaway's wholly-owned subsidiary, National Indemnity Company, will notify Japan's Kanto Local Finance Bureau of the purchase of the stakes in Itochu Corp (T:), Marubeni Corp (T:), Mitsubishi Corp (T:), Mitsui & Co Ltd (T:) and Sumitomo Corp (T:), the company said in a statement. (more...)
Reliance Retail acquires retail and wholesale business from the Future Group Reliance Retail acquires retail and wholesale business from the Future Group
- August 31, 2020

Many times he has been forced to divest assets to pare mounting debt of his retail empire, a business that is always considered to be cash consuming. Shareholders of Future Retail will get 101 shares of FEL for every 10 held. Future Group, which originated as a stonewashed-fabric seller in the 1980s, has always been a leader in the development of India's modern retail industry. (more...)
Triller says made US$20b bid with Centricus for TikTok assets Triller says made US$20b bid with Centricus for TikTok assets
- August 31, 2020

The two have jointly submitted a bid to Beijing-based TikTok's owner ByteDance to acquire its assets in India, Australia, New Zealand, and the United States for $20 billion, according to a Bloomberg report. Under the expectant watch of executives and government officials from Seattle and Silicon Valley to Arkansas and Washington, ByteDance's decision on which bid to choose - or whether to sell the app's assets at all - could come as soon as this weekend, a person familiar with that ... (more...)
White House suggests $1.3 trillion coronavirus aid bill; Pelosi says not enough White House suggests $1.3 trillion coronavirus aid bill; Pelosi says not enough
- August 30, 2020

US House Speaker Pelosi, after talks with White House chief of staff Meadows, says White House continues to disregard the needs of the American people on coronavirus relief. "It's really been Speaker Pelosi really driving this train as a conductor more so than really anybody", Meadows said. Democrats have sought a $3.4 trillion deal and Republicans proposed a $1 trillion deal, although Democrats said they would cut about $1 trillion from their proposal. (more...)
Gold Prices Decline by Rs 252, Silver Rises Gold Prices Decline by Rs 252, Silver Rises
- August 30, 2020

Treasury yields on Federal Reserve Chair Jerome Powell's offer for more inflation tolerance. Gold has been one of the most consistent gainers through the six months of coronavirus pandemic-led turmoil in financial markets , benefiting from a flood of capital into the world economy and investors seeking relatively safer options to direct their funds. (more...)

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