Money


Google, Facebook allow employees to work from home till end of 2020 Google, Facebook allow employees to work from home till end of 2020
- December 06, 2020

Google originally said it would keep its work from home policy until 1 June but is extending it for seven more months. The US-based firm also expects most offices to stay closed until July 6. Employees who are now working from home, however, will be allowed to continue doing so until the end of the year. Will working from home hurt your career? A few days ago, Sundar Pichai had e-mailed Google employees in which he said that it would be shocking for the employees to come to office after ... (more...)
Another 712,000 Americans filed for unemployment benefits last week Another 712,000 Americans filed for unemployment benefits last week
- December 06, 2020

With layoffs still elevated and new confirmed coronavirus cases in the United States now exceeding 160,000 a day on average, the economy's modest recovery is increasingly in danger. Nationally, 712,000 new claims for state benefits were reported last week, along with 288,701 claims for PUA. Democratic leaders have given their support to a almost $1 trillion package as a "basis" for discussions. (more...)
Wall Street ticks back toward highs despite dour jobs report Wall Street ticks back toward highs despite dour jobs report
- December 06, 2020

The S&P 500 and Nasdaq touched all-time highs on Thursday as hopes of a swift Covid-19 vaccine-driven recovery and economic stimulus eased immediate worries about rising coronavirus cases and dismal economic data. U.S. Senate Majority Leader Mitch McConnell cited some positive movement in congressional efforts to reach a compromise on a new coronavirus aid bill but gave no hints on when such a deal could be struck. (more...)
Coronavirus relief bill: What's on the table as Congress seeks deal Coronavirus relief bill: What's on the table as Congress seeks deal
- December 05, 2020

Although the unemployment rate fell to 6.7 percent, the figures indicate yet another month of slowed down employment gains. Numerous smaller items are ripe for inclusion, including $10 billion for the Postal Service, a $20 billion-plus deal adding food aid sought by Democrats and farm subsidies favored by Republicans, more than $100 billion in funding for schools seeking to reopen, along with funding for child care, Amtrak, transit systems, and health care providers. (more...)
Macquarie Buys Waddell & Reed for $1.7 Billion in US Push Macquarie Buys Waddell & Reed for $1.7 Billion in US Push
- December 05, 2020

Australia's Macquarie Group said on Thursday it had agreed to buy USA -based investment management firm Waddell & Reed Financial Inc for $1.7 billion in cash, expanding the retail footprint of its largest unit in that market. The U.S. represents the largest client segment in asset management globally, Macquarie said in the statement. The sale has been approved by the boards of both companies and is expected to close by mid-2021, pending regulatory approval. (more...)
England announces new coronavirus quarantine exemptions for 'high-value' business travellers England announces new coronavirus quarantine exemptions for 'high-value' business travellers
- December 05, 2020

Grant Shapps today announced a significant loosening of coronavirus travel restrictions which will see "high-value" business travellers made exempt from self-isolation rules. Passengers from these destinations do not need to self-isolate upon arriving in England, unless they had been to somewhere not on the list within the 14 days prior to their arrival in England. (more...)
Brexit trade deal 'imminent' Brexit trade deal 'imminent'
- December 04, 2020

As the finish line nears, tempers were fraying in Brussels, with some of the EU's 27 member states - led by France and the Netherlands - anxious that Barnier would shake hands on something that in their view gives up too much ground to a country quitting the club. (more...)
Oil prices heading for 5th week of gains, near $50 per barrel Oil prices heading for 5th week of gains, near $50 per barrel
- December 04, 2020

Saudi Arabia, Russia and other oil producing countries have agreed to start tentatively increasing output next month even as the coronavirus pandemic continues to cloud the outlook for demand. "If this momentum continues, we could actually see the oversupply disappear a lot earlier than what we're expecting". At the time of writing this report, Gold futures prices dropped 0.32% at $1,813/ounce, though it's now trading above the $1,800 mark after it recorded impressive gains on Tuesday as ... (more...)
Pelosi, Schumer back $908B pandemic relief bill Pelosi, Schumer back $908B pandemic relief bill
- December 04, 2020

Republicans will still control the Senate unless Democrats can pull off a longshot bid to win both Georgia Senate seats in a January 5 runoff. Right now, the $908 billion framework is little more than a one-pager. The bipartisan proposal would not, however, include a new round of stimulus checks. The announcement appeared aimed at budging McConnell, who so far has been unwilling to abandon a $550 billion Senate GOP plan that failed twice this fall. (more...)
RBI prohibits HDFC Bank from issuing new credit cards RBI prohibits HDFC Bank from issuing new credit cards
- December 04, 2020

The Reserve Bank of India (RBI) on Wednesday asked one of India's biggest private banks HDFC Bank to stop launches of its upcoming digital business generating activities under its program ‐ Digital 2.0 and issuance of new credit cards. We realise that as our valued customer, you expect us to maintain a very high standard of service quality and experience. "For that, please accept our honest apologies", he added. (more...)
Five things to watch out for from RBI policy today Five things to watch out for from RBI policy today
- December 04, 2020

Sequentially, the Consumer Price Index (CPI), which gauges the retail price inflation , spiked in October to 7.61 per cent from 7.27 per cent in September. He further had said that authorities need to be "watchful" regarding the sustainability of demand after the end of the festive season. The next few months are critical as it needs to be seen whether demand levels will sustain and the central bank will closely monitor the growth trajectory and high frequency data points. (more...)
Data for USA coronavirus aid program reveals serious flaws Data for USA coronavirus aid program reveals serious flaws
- December 04, 2020

Aimed at small companies - generally th ose with 500 or fewer workers - the programme provided forgivable loans to desperate business owners who were faced with widespread shutdowns. In response to the lawsuit, the SBA posted loan-level data of 660,000 business and nonprofit organizations that received at least $150,000 in funding. (more...)
Worsening pandemic chills USA service sector momentum in November Worsening pandemic chills USA service sector momentum in November
- December 04, 2020

The seasonally adjusted India Services Business Activity Index posted above the critical 50 mark that separates growth from contraction for the second month in a row. Sub-sector data highlighted transport and storage as the best performing category in November, with rates of growth for output and sales surpassing those seen in consumer services, and finance and insurance. (more...)
Colorado Gov. Jared Polis and his partner test positive for COVID-19 Colorado Gov. Jared Polis and his partner test positive for COVID-19
- December 04, 2020

Said Polis: "This evening I learned that First Gentleman Marlon Reis and I have tested positive for COVID-19". "Marlon and I are feeling well so far, and are in good spirits". The state has been hit with a substantial spike in COVID-19 cases. "They're literally discussing it now, right now", Fauci said. Polis had started quarantining Wednesday after he said he was exposed to the virus. (more...)
Biden unveils administration's all-female senior communications team Biden unveils administration's all-female senior communications team
- December 04, 2020

This team will be led by Director campaign Kate Bedingfield . Symone Sanders , who was a senior adviser on Biden's campaign in 2020 after serving as a national press secretary for Sen. While announcing a foreign policy and national security team that he says will keep Americans safe and secure, USA president-elect Joe Biden expressed his gratitude for state certifications that he says help "wrap up" the presidential election. (more...)
Brexit stuck as European Union unfair, says UK Brexit stuck as European Union unfair, says UK
- December 03, 2020

Talks that have already shot past several mooted deadlines and any deal agreed by Barnier's team will need the formal ratification of EU member states as well as the European Parliament. "The EU also has interests to fight for, those of a fair competition for its businesses and those of its fishermen". Rows over access to British waters have been one of the most significant remaining stumbling blocks in the negotiations during the past few weeks. (more...)
Canada blocks certain drug exports in response to US plan Canada blocks certain drug exports in response to US plan
- December 03, 2020

Canadian government officials announced that it will block the importation of prescription drugs in situations where a domestic shortage could arise, in response to a move by the U.S. "Vigilance must be exercised in maintaining the national supply of medicines", Health Canada said in a statement . The US plan is meant to lower prices for Americans, but comes at a time when the COVID-19 pandemic has increased demand for some medicines. (more...)
Hyundai unveils long range, high performance, two way charging EV platform Hyundai unveils long range, high performance, two way charging EV platform
- December 03, 2020

And Hyundai reveals its next-generation platform for electric vehicles , and suggests that trucks and SUVs might be better off with fuel cells. "There are now high-performance N Line (vehicles) only for Hyundai Motor, but we are also thinking about high powered version of Kia and Genesis ". (more...)
Stocks ease below records in early trading on Wall Street Stocks ease below records in early trading on Wall Street
- December 03, 2020

Its shares rose 1.4%. Investors also took in a fairly downcast Federal Reserve report on economic conditions, with four of 12 regions seeing little or no growth, while four others saw activity begin to dip last month. But markets cheered news Britain cleared the Pfizer-BioNTech vaccine beginning next week, a major step in efforts to move the global economy beyond the coronavirus pandemic. (more...)
McConnell Rejects New Bipartisan Coronavirus Relief Proposal McConnell Rejects New Bipartisan Coronavirus Relief Proposal
- December 03, 2020

Waiting until next year for fresh covid relief "not an answer". He said must pass a targeted relief bill this year. Mrs. Pelosi said the secretary is reviewing a proposal she and Senate Minority Leader Charles E. Democrats declined to release details of their concessions to McConnell. His top deputy, Sen. McConnell has said he hopes to include some targeted relief in an upcoming spending bill that must be approved by December 11. (more...)

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