Money


ONGC jumps 4% as oil prices rally to highest since early March ONGC jumps 4% as oil prices rally to highest since early March
- November 25, 2020

Brent crude was up 44 cents, or 0.9%, at $48.30 a barrel by 0743 GMT, having risen nearly 4% in the previous session. US West Texas Intermediate crude gained $0.47, or 1.1%, to $43.53. Official U.S. government crude stocks data will be released today Wednesday. However, restrictions will spill into next year thereby affecting oil demand because vaccines will not likely be ready before the new year. (more...)
Top Glove estimates three per cent of FY21 revenue to be impacted Top Glove estimates three per cent of FY21 revenue to be impacted
- November 25, 2020

The two other major glove making companies, Hartalega Holdings and Supermax Corp, most likely lack the production capacity to cover the delays. "To minimise the impact on our customers, we are allocating sales orders to unaffected factories and rescheduling deliveries where possible", Top Glove Corp of Malaysia said in a statement , according to The Hill . (more...)
Microsoft Gives Employees the Option to Work From Home Permanently
- November 25, 2020

Sources claim that Microsoft employees are still working from home as the company doesn't expect to open its USA offices until January 2021, at the earliest. Spotify followed Twitter and Facebook's lead to allow staffers to work from home until the end of the year. After almost a year of working from home, that's understandable. (more...)
Stocks and oil ride high on Biden transition and vaccine hopes Stocks and oil ride high on Biden transition and vaccine hopes
- November 24, 2020

United States stocks acquired an additional increase after reviews that Biden plans to appoint former Federal Reserve Chair, Janet Yellen, to change into the following Treasury Secretary. Last week, Pfizer and Moderna both reported study results showing their vaccines were nearly 95% effective. "Recent U.S. data restored a bit of confidence that the economy is holding up, despite surging COVID-19 infections and a painful lack of fresh fiscal stimulus", said Kyle Rodda, a market analyst for IG ... (more...)
Markets March Higher on Vaccine Progress; RIL, IT Stocks Sparkle Markets March Higher on Vaccine Progress; RIL, IT Stocks Sparkle
- November 24, 2020

Adani Ports: The stock ended.46 percent to Rs 391.90 per share on the NSE after it got ranked 14th on Dow Jones Sustainability Emerging Markets Index (DJSI) in the highly competitive global transportation and transportation infrastructure sector. (more...)
Australia opens up more borders in domestic travel boost, eyes vaccine Australia opens up more borders in domestic travel boost, eyes vaccine
- November 24, 2020

Visitors from New South Wales will no longer be required to quarantine for 14 days when entering Queensland. "Now is the time, if you live in NSW, come to Queensland, start planning that holiday", said Palaszczuk. In NSW, the last unlinked case was on October 24, while in Victoria will mark the 28 day milestone on Saturday. "South Australia - we're still waiting to see how their outbreak unfolds - it's been really good so far, they've had only small numbers ... (more...)
Oil prices settle up over 2% on COVID-19 vaccine news Oil prices settle up over 2% on COVID-19 vaccine news
- November 24, 2020

US energy firms cut the number of oil and natural gas rigs operating for the first time in 10 weeks even as producers return to the wellpad with crude prices mostly trading over $40 a barrel since mid June. To counter the fall in demand from movement restrictions, OPEC+ members are likely to delay a plan to boost production from January by 2 million barrels per day, sources told Reuters . (more...)
Elon Musk Is Officially the Second Richest Man in the World Now Elon Musk Is Officially the Second Richest Man in the World Now
- November 24, 2020

In January this year, he was ranked 35th. About three-quarters of his net worth consists of only Tesla shares, valued more than four times as much as his stake in Space Exploration Technologies Corp., better known as SpaceX , the Bloomberg report stated. (more...)
Brexit deal is achievable - Markey Brexit deal is achievable - Markey
- November 24, 2020

But he added that he had got a sense of progress from both negotiating teams, and that a presentation last week from EU Commission President Ursula von der Leyen was probably one of the more hopeful to date. "And, I am delighted that we are doing a deal, I hope that we will be able to conclude a deal, that will see, finally, the people of Britain able to access the supplies of Tim Tams - Tim Tam chocolate biscuits - in the quantities that we need". (more...)
JUST IN: Biden Expected to Pick Janet Yellen as Treasury Secretary JUST IN: Biden Expected to Pick Janet Yellen as Treasury Secretary
- November 24, 2020

Odds that ex-Fed Chair Yellen will become Treasury Secretary, vaccine hopes and Brexit optimism also favor the bulls. Her Fed nomination was approved with bipartisan backing, and she is widely viewed now as a choice that is acceptable to lawmakers of both parties. (more...)
Biden to tap Janet Yellen as first woman to lead USA treasury Biden to tap Janet Yellen as first woman to lead USA treasury
- November 24, 2020

Brainard is now a governor on the Federal Reserve Board, which means appointing her to treasury would force the Biden team into another battle with a recalcitrant Senate. "She knows how to build consensus". The S&P 500 Index rose from roughly unchanged on the day at the time of the initial report to gain 0.57 percent by the closing bell. (more...)
Airline CEO says anti-vaxxers won't be allowed to fly internationally Airline CEO says anti-vaxxers won't be allowed to fly internationally
- November 24, 2020

And he said the company was looking into the possibility of requiring passengers to have a vaccination passport which would allow them to travel. He told Australia's Channel 9: "We are looking at changing our terms and conditions to say for global travellers that we will ask people to have a vaccination before they can get on the aircraft". (more...)
GM: New batteries cut electric car costs GM: New batteries cut electric car costs
- November 23, 2020

Most of the future EVs will be powered by GM's own batteries branded Ultium . Between Cadillac, GMC, Chevrolet and Buick, the company will offer EVs at all price points and for all purposes, whether for work, adventure, performance, or family use. (more...)
N.L., P.E.I. temporarily leave COVID-19 Atlantic bubble N.L., P.E.I. temporarily leave COVID-19 Atlantic bubble
- November 23, 2020

Newfoundland and Labrador Premier Andrew Furey announced today that anyone coming into the province from the other Atlantic provinces must now self-isolate for 14 days, as other visitors are required to do. "Some provinces may take additional measures". "Not all of these cases are related to travel, meaning there is evidence of community spread". The province's top doctor says, although the decision to temporarily pull out of the bubble is not an easy one to make, she hopes it will keep life ... (more...)
Adar Poonawalla 'delighted' over Oxford-AstraZeneca-Serum vaccine's efficacy Adar Poonawalla 'delighted' over Oxford-AstraZeneca-Serum vaccine's efficacy
- November 23, 2020

The company remains in discussion with the Indian government about inking a purchase agreement for the vaccine, Poonawalla said in an interview with CNBC-TV 18, adding that SII should have quantities of it ready to sell into the private market in the first quarter of 2021. (more...)
PM Modi to hold COVID-19 review meeting with Chief Ministers tomorrow PM Modi to hold COVID-19 review meeting with Chief Ministers tomorrow
- November 23, 2020

The prime minister briefly spoke about climate change as well, saying the world needs to deal with the environment and nature as "trustees rather than owners", and work towards a "holistic and healthy lifestyle". "We have made LED lights popular". "Based on this, the G20 can lay the foundation of a new world", the prime minister said. India is making next-generation infrastructure such as metro networks, water-ways and more, he said. (more...)
Kagame calls for equitable distribution of Covid-19 vaccine Kagame calls for equitable distribution of Covid-19 vaccine
- November 23, 2020

But while the US was mainly cooperative, Turkey raised an objection to the climate language, tied to a longstanding complaint of how it can't access climate financing from the $10.3 billion Green Climate Fund. The virus originally appeared in China in 2019. Xi also said China is ready to aid other countries in need of coronavirus vaccines as the country now has five home-grown candidates in Phase III trials, Reuters reported. (more...)
Petrol price up 17 paise, diesel 22 paise after two-month hiatus Petrol price up 17 paise, diesel 22 paise after two-month hiatus
- November 23, 2020

The 58-day hiatus in petrol price revision and the 48-day status quo on diesel rates were preceded by no change in rates between June 30 and August 15 and a 85-day status quo between March 17 and June 6. This is the first revision in petrol prices since September 22. Now that option is exhausted and regular price revision could restart. State-owned fuel retailers started raising fuel prices from Friday after a long gap. (more...)
Apple Launches Iphone 12 Series With 5G Support
- November 23, 2020

The four variants Apple is expected to launch are - iPhone 12 Mini (5.4-inch screen), iPhone 12 (6.1-inch screen), iPhone 12 Pro (6.1-inch screen), and iPhone 12 Pro Max (6.7-inch screen). Pushing the limits of machine learning (ML), A14 Bionic features a 16-core Neural Engine - for an 80 percent increase in performance - that is capable of completing 11 trillion operations per second, enabling improved performance on even the most intense ML models. (more...)
Ducati sprinkles some Superleggara magic on new track-focused Panigale V4 SP Ducati sprinkles some Superleggara magic on new track-focused Panigale V4 SP
- November 22, 2020

Apart from cosmetically updating the Supersport 950, Ducati has also made some crucial changes in making the Supersport 950 a better motorcycle than before. Colour options are two and they are Ducati Red and Arctic White Silk (S variant only). While the standard motorcycle gets 43mm Marzocchi USD forks at the front and a Sachs monoshock at the rear, the 950S variant comes equipped with superior 48mm Ohlins USD front forks and an Ohlins rear monoshock. (more...)

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