Money


WhatsApp cleared to launch payments service in India WhatsApp cleared to launch payments service in India
- November 07, 2020

Specifically, the agency announced that starting on January 1, 2021 no third-party payment app will be allowed to process more than 30% of the total volume of transactions generated by the United Payments Interface, according to a report in Reuters . (more...)
Windsor's Unemployment Rate Grows in October Windsor's Unemployment Rate Grows in October
- November 06, 2020

According to Statistics Canada, the Prince Albert and North region dropped to 7.2 per cent in October, down from 8 per cent in the previous month. Month-to-month, Saskatchewan's seasonally adjusted employment rate decreased by 1,600, or -0.3 per cent. (more...)
US sees surprise unemployment rate fall to 6.9% in October US sees surprise unemployment rate fall to 6.9% in October
- November 06, 2020

The Labor Department's payroll report released Friday showed the unemployment rate fell to 6.9% from 7.9%. "A rising share of temporary layoffs are becoming permanent, signaling the long-lasting scarring effects from the crisis", said Kathy Bostjancic, chief US financial economist at Oxford Economics in NY. (more...)
Tesla just rolled out its own tequila. It's already sold out Tesla just rolled out its own tequila. It's already sold out
- November 06, 2020

Tesla released a branded tequila that costs about as much as you'd expect Tesla-branded tequila to cost. In the meantime, online sellers are already listing empty bottles of the Tesla tequila for pre-order on eBay-at considerable price markups , of course. (more...)
Bentley Will Only Build EVs from 2030 Bentley Will Only Build EVs from 2030
- November 06, 2020

Being at the forefront of progress is part of our DNA; the original Bentley boys were pioneers and leaders. "Now, as we look Beyond100, we will continue to lead by reinventing the company and becoming the world's benchmark luxury auto business". (more...)
How was Biden's lead reflected in gold prices? How was Biden's lead reflected in gold prices?
- November 06, 2020

A promise by the Federal Reserve on Thursday to keep its monetary policy loose and do whatever it takes to sustain an unsteady USA economic recovery also weighed on the dollar . The euro was up 0.88% to $1.1825 and the Japanese yen strengthened 0.96% versus the greenback to 103.54 per dollar. The diminished chance of US fiscal stimulus will pile pressure on central banks globally to inject liquidity, just as the Federal Reserve and Bank of England hold policy meetings. (more...)
WhatsApp Pay Gets NPCI Clearance, But You May Still Have To Wait WhatsApp Pay Gets NPCI Clearance, But You May Still Have To Wait
- November 06, 2020

The Facebook-owned messaging app has been testing its payment service in the country for over a year. For existing third-party apps on UPI, they will get two years to comply till January 2023. The move comes after NPCI in August had informed the Reserve Bank of India that WhatsApp had met data localisation requirements. Facebook earlier this year purchased a 9.99 per cent stake in Jio Platforms, the digital services firm owned by Mukesh Ambani, India's richest man, and Facebook has been open ... (more...)
General Motors to bring pickups production back to Canada General Motors to bring pickups production back to Canada
- November 06, 2020

General Motors unveils its first election Hummer. About 60 workers there have been making face masks for the government. The first move was "maintaining the integrity of the plant", bolstered by an agreement a year ago with GM to see 300 jobs remain to make aftermarket parts and an investment in innovation centres and an autonomous vehicle test track. (more...)
Bank of England to buy £150B more bonds as new lockdown starts Bank of England to buy £150B more bonds as new lockdown starts
- November 05, 2020

GDP is likely to grow by 7.25 percent next year, weaker than a previous forecast of a 9 percent bounce-back, it said. The BoE is buying up many of those bonds. "Our view is that inflation will be closer to 1.5% by the end of 2022". Announcing further asset purchases now should support the economy and help to ensure that the unavoidable near-term slowdown in activity was not amplified by a tightening in monetary conditions. (more...)
Most Royal Caribbean cruises docked until 2021 Most Royal Caribbean cruises docked until 2021
- November 05, 2020

The CDC has updated its conditional sailing order, which becomes effective today, November 1, for cruise ships to begin a phased approach sailing again. "We recognise the devastating impact that the pandemic continues to have on the 421,000 Americans whose livelihoods are connected directly to cruise operations". (more...)
Ethereum's ConsenSys Bags Another CBDC Project Partnership With Australia's Central Bank Ethereum's ConsenSys Bags Another CBDC Project Partnership With Australia's Central Bank
- November 05, 2020

The bank has been researching a CBDC for wholesale settlement between banks and other wholesale market participants, as well as a CBDC for general household use, since at least 2017. Explaining the objective of the research project, the governor of the Reserve Bank of Australia, Michele Bullock, stated that the goal of the project is to test the viability of a CBDC for wholesale financial markets that have to do with transactions between institutions. (more...)
Bank of England to pump another £150bn into United Kingdom economy Bank of England to pump another £150bn into United Kingdom economy
- November 05, 2020

The central bank kept its benchmark Bank Rate at 0.1%, as expected in the poll, while it looks into the feasibility of taking borrowing costs below zero for the first time. Reacting to the news, Jeremy Thomson Cook, Chief Economist at Equals (part of the Equals Group) said: "The Bank of England has increased its quantitative easing plan this morning, adding support through 2021 and acknowledging that the double whammy of COVID-19 and Brexit means the United Kingdom economy is in for an ... (more...)
Burger King urges customers to 'order from McDonald’s' Burger King urges customers to 'order from McDonald’s'
- November 05, 2020

In a surprising Twitter post shared Monday, fast-food chain Burger King urged its customers to order from McDonald's and other rival restaurants. The unusual stunt has certainly got people talking, with one social media user posting: "Pure class. Hope your store staff, social team etc. all manage to pull through". (more...)
Euro zone manufacturing growth rises in Oct amid recovery of demand Euro zone manufacturing growth rises in Oct amid recovery of demand
- November 05, 2020

The federal budget for 2021 keeps pace with global economic changes without compromising national development priorities. The UAE is supported by many factors and areas of strength including a strong institutional framework and advanced digital capabilities across various sectors, in addition to the high educational level of the population, it said. (more...)
U.S. Trade Deficit Narrowed in September as Exports Rose U.S. Trade Deficit Narrowed in September as Exports Rose
- November 05, 2020

Total exports are down 17.4% this year from 2019, while imports have declined by 12.4% as the coronavirus pandemic has sabotaged global commerce this year and disrupted global supply chains everywhere. Exports during April-October 2020-21 stood at United States dollars 150.07 billion, registering a decline of 19.05 per cent over the same period previous year. (more...)
Trump Falsely Claims Reelection Victory as Battleground States Continue Count Trump Falsely Claims Reelection Victory as Battleground States Continue Count
- November 05, 2020

Twitter slapped another warning label on Walsh's tweet, but not before Trump shared it with an all-caps message of his own - "WHAT IS THIS ALL ABOUT?" In his speech President Trump said he'd be going to the US Supreme Court and said of the Democrats: "They knew they couldn't win, so they said let's go to court". (more...)
Quebec invests $100 million in mental health care following fatal sword attack Quebec invests $100 million in mental health care following fatal sword attack
- November 04, 2020

Police said five victims were transported to a hospital, however there was no immediate word on their conditions. Police were first summoned to the scene at around 10:30 on Saturday night and proceeded to pursue a suspect through the narrow streets of Old Quebec until his arrest shortly before 1 a.m. (more...)
S&P 500 futures dip after early Florida vote results S&P 500 futures dip after early Florida vote results
- November 04, 2020

In short, election results hinting at a clear victor should boost futures - though several key races remained too early to call just after 11 p.m. ET. The Dow kept its momentum as it opened up 1.3 per cent at 27,275.22. The race for control in the Senate is on as Biden turns to the Midwest for support. (more...)
Australian Lobster Halted by Chinese Customs Checks, Fuels Trade Dispute Concerns Australian Lobster Halted by Chinese Customs Checks, Fuels Trade Dispute Concerns
- November 04, 2020

China on Monday said its customs imposes inspections and quarantines on imported seafood in accordance with the law, and permits clearance after establishing that goods conform with relevant standards to ensure food safety for Chinese consumers. (more...)
Oil price rises 2% after falling to $36 Oil price rises 2% after falling to $36
- November 04, 2020

Presidential election week. New infections spiked in the United States as well. Senior market analyst Phil Flynn argues hurricanes and fears over a second wave of coronavirus is hurting oil demand expectations. OPEC and their allies including Russian Federation, a group known as OPEC+, are cutting output by about 7.7 million barrels per day in a pact aimed at supporting prices. (more...)

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