Money


Startup Astra reaches space for the first time - but barely misses orbit Startup Astra reaches space for the first time - but barely misses orbit
- December 18, 2020

Astra soon traced the problem to an apparent software issue in Rocket 3 .1's guidance and navigation system, expressing confidence that the company would be back on the pad again soon. This won't need any equipment or programming changes, the organization noted, only a change in the factors involved. View of Earth from Astra's second stage spacecraft on orbit. (more...)
OH unemployment claims rise again as pandemic impact felt OH unemployment claims rise again as pandemic impact felt
- December 18, 2020

That figure roughly approximates the number of people receiving state unemployment benefits , but doesn't include the millions of people who have already exhausted those benefits or are receiving assistance through federal pandemic jobless aid programmes. (more...)
Taking the Aus-China trade spat to Geneva: Australia formally engages WTO Taking the Aus-China trade spat to Geneva: Australia formally engages WTO
- December 18, 2020

The effective block on sales to China also comes as Australian barley production is expected to hit almost 12 million tonnes this crop year, after rain revived some of the biggest growing regions following years of drought. At least 13 Australian sectors have been subjected to tariffs or some form of disruption, including beef , coal, copper, cotton, lobsters , sugar, timber, tourism, universities, wine , wheat, and wool. (more...)
Oil prices hit nine-month high after U.S. crude stock draw Oil prices hit nine-month high after U.S. crude stock draw
- December 17, 2020

Record-breaking refining demand in China and India lent further strength to the market. Brent crude futures rose 32 cents to settle at $51.08 a barrel. Optimism around the USA spending package boosted oil prices, with almost $900 billion in virus-related measures expected. Oil prices edged lower on Wednesday after a surprise gain in USA crude inventories and tighter coronavirus lockdowns in Europe but a weakening dollar and progress on the rollout of COVID-19 vaccines offered ... (more...)
MA files securities charge against popular investing app Robinhood MA files securities charge against popular investing app Robinhood
- December 17, 2020

Robinhood told Business Insider it disagrees with the allegations in the complaint. Robinhood Markets has agreed to pay US$65 million to settle Securities and Exchange Commission allegations that the broker failed to properly inform clients that it sold their stock orders to high-frequency traders and other financial firms. (more...)
Business & Finance: Dollar slips in Europe Business & Finance: Dollar slips in Europe
- December 17, 2020

Optimism about a $ 1.4 trillion U.S. spending package increased after House Speaker Nancy Pelosi called on other congressional leaders to meet late Tuesday to reach a deal that will be triggered this week. Among individual companies, Pfizer fell 2.3 percent following a report that a health worker in Alaska suffered a serious allergic reaction after getting Pfizer-BioNTech's Covid-19 vaccine and is now hospitalized but stable. (more...)
Australia refers China to the World Trade Organization amid deteriorating diplomatic relations
- December 17, 2020

Birmingham didn't rule out the possibility of raising further WTO challenges against China, saying that anti-dumping claims made by Beijing against the Australian wine industry that could push tariffs to over 200pc had similar criteria to those made about barley, and that the government has the ability to respond. (more...)
Leamington's pot giant Aphria loses name in blockbuster company merger Leamington's pot giant Aphria loses name in blockbuster company merger
- December 17, 2020

The new Tilray will trade on the Nasdaq under the ticker symbol TLRY and will maintain offices in NY and Seattle, in addition to Toronto, Leamington, Vancouver Island, Portugal and Germany. Earlier this year, Arizona, New Jersey, South Dakota, Mississippi and Montana voted in favour of legalizing recreational or medical cannabis through USA election ballot questions, which could pave their way for a more national legalization movement. (more...)
Bitcoin breaks above US$20,000 for first time Bitcoin breaks above US$20,000 for first time
- December 17, 2020

Glassnode, which provides insight on blockchain data, said long-term holders of bitcoin had been selling the virtual currency after it reached the November record peak. JPMorgan also revealed that the flagship crypto would attract more attention from institutional investors, and further buying pressures from such investors. (more...)
Fed vows to continue bond-buying until it sees 'substantial' economic progress Fed vows to continue bond-buying until it sees 'substantial' economic progress
- December 17, 2020

U.S. Federal Reserve Chairman Jerome Powell said on Wednesday that the case for fiscal policy right now is "very strong" as millions of Americans are set to lose pandemic relief benefits by the end of the year. "In recent months, however, the pace of improvement in the economy has been slowing down", he said. US retail sales fell more than expected in November, the Commerce Department reported on Wednesday, adding to growing signs of a slowdown in the economic recovery. (more...)
European Union unveils new competition rules for tech giants European Union unveils new competition rules for tech giants
- December 17, 2020

Like the market-focused act, there would be hefty penalties for companies that fail to comply. What's in the draft laws? That is equivalent to about 10 percent of the EU's population. Last week, the Federal Trade Commission (FTC) and a coalition of 48 USA states filed a collection of lawsuits against Facebook alleging that the social media giant has engaged in anticompetitive behaviour and abused its market position to crush potential rivals. (more...)
MacKenzie Scott announces sizable donations - Full show on CBS All Access MacKenzie Scott announces sizable donations - Full show on CBS All Access
- December 16, 2020

More than 40 food banks received money, as did nearly four dozen local affiliates of Goodwill Industries International. Her latest round of donations totaled more than $4.16 billion donated to organizations nationwide. She said the team used a data-driven approach, identifying organizations with strong leadership and results, specifically in communities with high food insecurity, racial inequity and poverty rates, "and low access to philanthropic capital". (more...)
USA brands Vietnam and Switzerland as currency manipulators USA brands Vietnam and Switzerland as currency manipulators
- December 16, 2020

In retaliation, the United States says it will now "press for the adoption of policies that will permit effective balance of payments adjustments" in future negotiations with the countries to eliminate their "unfair advantage". A senior US Treasury official said both Vietnam and Switzerland had exceeded Treasury's three measurement criteria by a "substantial margin". In addition to branding China as a manipulator previous year, the US imposed that label on China from 1992 to 1994. (more...)
Progress on Brexit issues, next days critical, European Union says Progress on Brexit issues, next days critical, European Union says
- December 16, 2020

On fisheries the discussion is still very hard. "Building on this momentum", the president said, "I count on the support of this house to rapidly conclude negotiations on the European Climate Law". "And, in all honesty, it sometimes feels that we will not be able to resolve this question". 'But we must continue to try to find a solution and it is the only responsible and right course of action'. (more...)
Crown Resorts faces class action over October share plunge Crown Resorts faces class action over October share plunge
- December 16, 2020

Law firm Maurice Blackburn has launched a second class action lawsuit against Crown Resorts, it said on Monday, alleging that the Australian casino giant's corporate failings caused a massive share price plunge in October. The class action is aiming to recover compensation for Crown shareholders and well as a potential buy-back of investors' shares at a fair value. Miranda Nagy , the lawyer in charge of the case, stated the investors expected best practice from the company that ... (more...)
MacKenzie Scott donates $1.7bn since Amazon manager divorce MacKenzie Scott donates $1.7bn since Amazon manager divorce
- December 16, 2020

Her hope, she wrote, is that change can come through personal recognition of what each of us can offer. She's one of many billionaires who have donated to worthy causes during 2020. William R. Harvey in a Tuesday statement. The groups she has donated to include the National Urban League, the Point Foundation, and multiple historically Black colleges and universities. (more...)
Sensex zooms 400 points to hit all-time high; Nifty above 13,650 Sensex zooms 400 points to hit all-time high; Nifty above 13,650
- December 16, 2020

The Midcap index gained 0.6% whereas the Smallcap index ended 0.8% larger. It has risen over 27% in just a month, following the news of the bank's inclusion in the MSCI India Index. Indian fairness markets remained sideways for the third straight day, ending with modest positive factors however registering one other report excessive. (more...)
US Treasury, Commerce Departments breached agency says US Treasury, Commerce Departments breached agency says
- December 16, 2020

Russian government hackers are believed to be responsible for infiltrating computer systems at multiple USA agencies in recent months, including the Pentagon, the Department of Homeland Security and the Department of the Treasury, according to government agencies and media reports. (more...)
Federal legislators unveil coronavirus relief measures Federal legislators unveil coronavirus relief measures
- December 16, 2020

That $748 billion plan will be endorsed by Republicans and Democrats who are part of the bipartisan negotiating group, adding pressure to Democratic leaders to accept that plan since they have publicly endorsed the group's efforts to find a deal. (more...)
Mukesh Ambani sees digital economy helping double incomes in India Mukesh Ambani sees digital economy helping double incomes in India
- December 16, 2020

About the collaboration between Reliance's retail arm JioMart and WhatsApp Pay, Ambani said it will enable retail transactions and bring in more wealth and employment opportunities. "And I believe Mark, that our actions will speak louder than our words in the coming months and years", Ambani said. "And India is building local capabilities and tech capacity, to power innovative new business models and provide Indian citizens access to digital and financial inclusion". (more...)

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