Money


Uber sells driverless vehicle division to start-up Aurora Uber sells driverless vehicle division to start-up Aurora
- December 10, 2020

ATG's team and technology will accelerate Aurora's mission and the delivery of our first product safely, quickly, and broadly. The deal is worth a reported $4 billion, with Uber retaining a 26 per cent stake in Aurora in return for an investment of $400 million. (more...)
China consumer prices drop for first time in over a decade China consumer prices drop for first time in over a decade
- December 10, 2020

The consumer price index, a measure of inflation that tracks prices for a basket of consumer goods and services, fell 0.5% in November from a year ago, China's National Bureau of Statistics said Wednesday. That could push up the core inflation measure, which strips out the more volatile food and energy prices and has remained at 0.5% since July. On a month-on-month basis, the headline CPI edged down 0.6 percent in November, faster than the 0.3 percent decline in the previous month, mainly ... (more...)
No second stimulus check in latest COVID-19 relief bill No second stimulus check in latest COVID-19 relief bill
- December 09, 2020

Pelosi blasted McConnell's offer as an attempt to undercut the bipartisan group whose framework she supports as a foundation for the negotiations. He added, "a strong vote will show the troops that we support them". But despite Tuesday's passage, there's no guarantee Congress can override the move if there is a veto. The FDA's advisory panel will discuss the documents on Thursday and then vote on whether to authorize use of the vaccine."Speaking as an individual, not as a member of the ... (more...)
Elon Musk has moved to Texas, calls California overly 'complacent' Elon Musk has moved to Texas, calls California overly 'complacent'
- December 09, 2020

Musk argued that Silicon Valley, home to some of the largest and most influential companies in the world, was declining in relevance. SpaceX had originally planned to fly Starship at an altitude of 15,000 metres, but changed the target to 12,000 metres in its launch application with the U.S. (more...)
Ambani, Mittal differ again on timing of 5G rollout in India Ambani, Mittal differ again on timing of 5G rollout in India
- December 09, 2020

On today's panel, which was attended by Mittal as well as Indian Prime Minister Narendra Modi , Ambani said stakeholders also need to think about ways to serve almost 300 million people who are still on 2G networks in India. Ambani underlined that India is amongst the best digitally connected nations in the world. "Urgent policy steps are needed to ensure that these underprivileged people have an affordable smartphone ", he said. (more...)
Global stocks slip as virus restrictions tighten; sterling weakens Global stocks slip as virus restrictions tighten; sterling weakens
- December 08, 2020

Facebook, Apple and Netflix all rose more than 1% to lead the Nasdaq higher. At the same time, California, the nation's most populous state, announced new restrictions on travel and business activity after record case numbers and hospitalizations. (more...)
IKEA Will No Longer Print Its Legendary Catalogue IKEA Will No Longer Print Its Legendary Catalogue
- December 08, 2020

Yet, despite the rise of the internet, Ikea's biggest print run for its catalogue was as recently as 2016, when it printed 200 million copies in 32 languages. "We're hoping the app provides an enhanced shopping experience for our customers, whether at home, on the move or in-store", Giovanni Rutigliano Digital Manager for Ikea Australia, said in a statement . (more...)
Digital Yuan: JD.COM plans to support purchases with Chinese CBDC Digital Yuan: JD.COM plans to support purchases with Chinese CBDC
- December 07, 2020

However, this latest trial's key feature is to test how the wallet works offline, which involves holding phones close together or scanning NFC QR codes. Although by 2020, some 36 central banks of various countries had been exploring digital currency, the Bank for International Settlements suggests that China had advanced the most. (more...)
Global oil prices may remain range bound in 2021 Global oil prices may remain range bound in 2021
- December 07, 2020

The increase , the biggest in five months, indicates the world's largest oil exporter is confident global energy demand is strong enough to absorb the small boost in output from OPEC + members next month. The cartel supported the gradual production increase. Futures in NY traded near $46 a barrel after rising 1.6% last week to close at a nine-month high on Friday. (more...)
Elon Musk`s `diverse` Tesla employs 79% male workforce Elon Musk`s `diverse` Tesla employs 79% male workforce
- December 07, 2020

Black employees received 10% of promotions in 2020, an 11% increase from 2019. It is stated that the Asian workforce is 21 percent. About 25% of Asian employees hold leadership positions. Men: represent 79% of its workforce in the United States and hold 83% of leadership positions. Additional groups: a designation that Tesla gives to employees who Native American, Native Hawaiian, Alaska Native, and other Pacific Islander or multiracial, represent 7% of its workforce and 1% of leadership. (more...)
Govt considering accelerated review of Oxford, Pfizer covid vaccines Govt considering accelerated review of Oxford, Pfizer covid vaccines
- December 07, 2020

It is learnt that Pfizer India has submitted the EUA application in Form CT-18 for grant of permission to import and market Pfizer-BioNTech's Covid-19 vaccine in India. Pfizer requires a temperature of minus 70 degrees Celsius and experts have raised questions that India's existing cold storage facilities do not match these conditions. (more...)
China's exports rise most since 2018 as pandemic fuels demand China's exports rise most since 2018 as pandemic fuels demand
- December 07, 2020

China's exports rose in November at their fastest pace in nearly three years, official figures showed Monday, as a surge in demand in key markets ahead of the festive period also helped the country post a record trade surplus. But Louis Kuijs, head of Asia economics at Oxford Economics, cautioned that many Covid-related purchases would not happen again, and that vaccine rollouts would prompt a "global rotation from goods to services consumption". (more...)
TA: Why Bitcoin Price Could Correct Sharply If It Breaks 100 SMA TA: Why Bitcoin Price Could Correct Sharply If It Breaks 100 SMA
- December 07, 2020

Ethereum , Binance Coin , Chainlink , Polkadot, Cardano, and Litecoin display essentially the same price tag as yesterday. ETH/USD is trading below the USD 600 resistance, with a key support at USD 0.585. A clear break above the Dollars 300 resistance might open the doors for a larger increase. Since finding support below $500, the price action has recovered to the $600 level and continues to test the resistance level. (more...)
EU's Barnier says no United Kingdom deal yet: diplomatic source EU's Barnier says no United Kingdom deal yet: diplomatic source
- December 07, 2020

British farming minister George Eustice said the country had made extensive preparations for a no-deal and was ready for it. Mairead McGuinness, Ireland's commissioner on the EU's executive, said the next 48 hours were "very crucial". Without a deal, the bulk of cross-Channel trade will revert to World Trade Organization terms, a return to tariffs and quotas after nearly five decades of close economic and political integration. (more...)
Canada's jobless rate falls to 8.5%, Niagara shows dip as well Canada's jobless rate falls to 8.5%, Niagara shows dip as well
- December 07, 2020

Despite the decline, the national unemployment rate fell to 8.5 per cent, compared to 8.9 per cent in October. The latest figures still leave the economy about 574,000 jobs short of pre-pandemic levels. But the month before, 84,000 jobs were created. But the pace of gains has slowed, with employment rising by 0.3 per cent in November compared to an average of 2.7 per cent per month between May and September. (more...)
Petrol and diesel price surges on crude oil price recovery Petrol and diesel price surges on crude oil price recovery
- December 07, 2020

Diesel rates went up by 25 paise to Rs 73.32 per litre in New Delhi , Rs 76.89 in Kolkata, Rs 79.93 in Mumbai and Rs 78.69 in Chennai. Oil marketing companies in India resumed daily price revision from 20 November after almost a two-month hiatus. (more...)
Brexit trade talks resume on Sunday - NationNews Barbados Brexit trade talks resume on Sunday - NationNews Barbados
- December 07, 2020

The two sides have been negotiating since January, when Britain left the EU. British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen spoke on the weekend and instructed their teams to resume talks after they were paused a day earlier due to an impasse over three key issues. (more...)
Musk Reportedly Told Friends He Plans To Move To Texas Musk Reportedly Told Friends He Plans To Move To Texas
- December 06, 2020

Friends of his have reported to the media that he is planning the move, but they all say they wish to remain anonymous since the conversations were private. Read Also: Who is Timnit Gebru? Musk was granted 101.3 million options, adjusted after a 5-for-1 stock split, this year. The milestones that the company was able to hit include certain market cap numbers. (more...)
Fired for highlighting AI bias: Google staffer Fired for highlighting AI bias: Google staffer
- December 06, 2020

Gebru objected to retracting the paper or removing her name from it, calling the practice unscholarly. It also demands "transparency to the broader public" over the decision, as well as commitments to research integrity and academic freedom. (more...)
OPEC+ agrees to ease coronavirus-driven oil supply cuts OPEC+ agrees to ease coronavirus-driven oil supply cuts
- December 06, 2020

The increase means the Organization of the Petroleum Exporting Countries ( OPEC ) and Russian Federation, a group known as OPEC+, are set to reduce production by 7.2 million bpd, or 7% of global demand from January, compared with current cuts of 7.7 million bpd. (more...)

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