Markets


Governor Gavin Newsom Announces Agreement For Huntington Beach, Dana Point To Reopen Governor Gavin Newsom Announces Agreement For Huntington Beach, Dana Point To Reopen
- May 06, 2020

Newsom said other sectors that fall into this second phase, such as offices and dine-in restaurants, will open at a later date. Associated manufacturers and supply chain businesses will also be allowed to fire back up. Local plans will have to be submitted to the state Public Health Department, and they will be posted online. "Many of these regions, many of these counties, have done already a ton of work in this space and they're ready to go so I have great expectation that you're going to ... (more...)
Uber's Middle East business Careem cuts 31% of workforce Uber's Middle East business Careem cuts 31% of workforce
- May 06, 2020

Securities and Exchange Commission on Monday. "We took the hard decision to stop Uber Eats services in Romania starting this June". The company has compensated in part with more deliveries of food and other supplies. You'll just need to download the Careem Now app and place your order there instead. "The economics of the mass transportation business have improved but remain challenging, and at this time, we need to accelerate our investments in deliveries and the Super App", We believe ... (more...)
Amazon VP resigns after accusing company of 'firing whistleblowers'
- May 06, 2020

Amazon workers in NY staged a protest on 1 May 2020. In a blog post published late last night, VP and engineer Tim Bray, who worked at the company for five years, said he "quit in dismay at Amazon firing whistleblowers who were making noise about warehouse employees frightened of Covid-19". (more...)
Man who wiped face on MI store clerk arrested
- May 06, 2020

Police in one MI community are searching for a man who they said wiped his nose on a retail employee's shirt after he was told to wear a mask. Police say he continued to be loud and disruptive inside the store before leaving in a white van. (more...)
Intel to acquire smart urban transit app Moovit for Dollars 1bn Intel to acquire smart urban transit app Moovit for Dollars 1bn
- May 05, 2020

Founded in 2012, Moovit has approximately 200 employees. "Mobility is a basic human right and as cities become more crowded, urban mobility becomes more hard", said Nir Erez, co-founder and CEO of Moovit . Earlier in March, The Department of Science and Technology (DST), Government of India , Intel India , and Society for Innovation & Entrepreneurship (SINE)-IIT Bombay have announced the third edition of Plugin , a one-year collaborative accelerator programme for hardware and systems ... (more...)
Costco Limiting Amount of Meat Items Each Customer Can Purchase Costco Limiting Amount of Meat Items Each Customer Can Purchase
- May 05, 2020

During a Monday Facebook live news conference, Highland County Emergency Operations Center Public Information Officer Branden Jackman said that the issue of a compromised food supply chain locally had been addressed at the daily morning meeting of local emergency personnel. (more...)
Cruise giant Carnival targets August comeback
- May 05, 2020

Carnival Cruise Line announced it plans to resume some North American sailings starting August 1. Impacted guests and their travel advisors will have the option of receiving future cruise credit packages or a full refund. All Carnival Spirit Alaskan cruises from Seattle will be cancelled, as well as the Carnival Spirit Vancouver-Honolulu cruise on September 25 and the Honolulu-Brisbane transpacific cruise on October 6. (more...)
Market Outlook: Euro wobbles ahead of German court ruling, risk appetite improves Market Outlook: Euro wobbles ahead of German court ruling, risk appetite improves
- May 05, 2020

The euro, government debt and European stocks all lost ground on Tuesday after a ruling by Germany's top court that the Bundesbank must stop buying government bonds if the European Central Bank can not prove the need for them. "They'll need to muster all their creativity to come up with a response to satisfy the German Constitutional Court, and they need to work fast". Uwe Burkert, an economist with LBBW Bank, said after Tuesday's ruling by Germany's top court that "the verdict is a very ... (more...)
Banks, metal stocks drag Sensex by 1,700 points; Nifty below 9,400 Banks, metal stocks drag Sensex by 1,700 points; Nifty below 9,400
- May 05, 2020

The NSE Nifty 50 index was up 1.64% at 9,445.60 by 0350 GMT, while the S&P BSE Sensex was 1.68% higher at 32,250.50. Private-equity firm Silver Lake will invest ₹5,655.75 crore in Jio Platforms, RIL said in a press release earlier today. Bourses in Hong Kong were trading on a positive note, while those in Shanghai, Tokyo and Seoul were closed for a holiday. The government on Friday extended the nationwide lockdown till May 17. (more...)
Trump repeats threat to pull U.S. pharma companies back from Ireland
- May 05, 2020

That set a record as the most watched presidential election-year town hall in history. He added: "This is a very frightful thing we're fighting". He said the Democrats and "enemies" are committed to investigating his response to the virus, which he referred to as the "impeachment hoax". (more...)
US, UK and Australia working together on COVID-19 vaccine
- May 05, 2020

Not for him, this bit of wisdom from Lincoln: "Do I not destroy my enemies when I make them my friends?" The president said of his monumental backdrop: "We never had a more lovely set than this". "I'll say what I think". There is an "incredibly small" chance of having a highly effective vaccine or treatment for the coronavirus within the next year, England's Chief Medical Officer Chris Whitty said on April 22. (more...)
J. Crew the first national retailer to file for bankruptcy since closures J. Crew the first national retailer to file for bankruptcy since closures
- May 05, 2020

That report will reveal the full brunt of the pandemic because by the beginning of the month, the doors of nearly every retailer had been ordered shut. The coronavirus crisis has forced J.Crew to shutter its almost 500 stores, including those under its trendy, youth-focused Madewell label. J.Crew is not the first to seek protection during the coronavirus outbreak and no one expects it to be the last. (more...)
America Braces to Borrow Record $3 Trillion in Current Quarter America Braces to Borrow Record $3 Trillion in Current Quarter
- May 05, 2020

Treasury said Monday that the $2.99 trillion it plans to borrow this quarter will far surpass the $530 billion quarterly borrowing it did in the July-September 2008 quarter as it dealt with the 2008 financial crisis . In addition, the government needs to borrow to cover the shortfall in revenue that will occur because the Trump administration has delayed the deadline for tax payments this year from April to June. (more...)
All Carnival Spirit Alaskan cruises from Seattle are canceled
- May 05, 2020

These Caribbean trips are the first announced by one of the major cruise lines since the coronavirus pandemic forced a near-total pause in the global cruise industry. The company said customers are being offered future cruise credit, onboard credit packages or a full refund. The mercifully bailout-missing cruise line claims it is "committed to supporting all public health efforts to manage the COVID-19 situation", and that it is "taking a measured approach, focusing our return to service ... (more...)
Tesla applies to become United Kingdom electricity provider Tesla applies to become United Kingdom electricity provider
- May 05, 2020

The objective of the licence from the energy regulator may be to introduce the company's Autobidder platform , the report said , citing a company source . Tesla developed various software to control energy assets. The company might deploy a vehicle-grid tech on a larger scale as one of its interests. (more...)
Trump has plan to remove U.S. dependency on China supply chain Trump has plan to remove U.S. dependency on China supply chain
- May 04, 2020

This would be at odds with claims the outbreak originated at a wet market nearby. Pompeo , speaking on ABC's "This Week," did not elaborate on what he also described as "significant amounts of evidence". More than 67,000 people have died across the USA and more than 1.15 million Americans have contracted COVID-19. Asked if he had seen anything that made him believe that the Wuhan Institute of Virology was the origin of the virus, Trump said last week he had - though he did not ... (more...)
All schools in NY closed for the rest of academic year All schools in NY closed for the rest of academic year
- May 04, 2020

Speaking during his daily media briefing from the capital in Albany, Cuomo said the schools can not be reopened safely before the end of the school year on June 26 due to the complexities involved in such an operation. Samaritan's Purse, a US-based Christian global relief agency, said the temporary hospital had treated 191 people infected with coronavirus and would stop admitting new patients from tomorrow. (more...)
US stocks open lower as airline shares tumble US stocks open lower as airline shares tumble
- May 04, 2020

Delta Air Lines declined 9.6%, United Airlines Holdings slid 9.3% and American Airlines Group was down 8.1%. Berkshire's announcement also shaved more than 3.3% off planemaker Boeing Co's shares. "China trade war then if this theme continues you can't help thinking that the end game is far worse than it would be from a simple trade war", said Jim Reid, a strategist at Deutsche Bank. (more...)
J.Crew files for bankruptcy as coronavirus slams retailers
- May 04, 2020

Fashion firm J Crew has filed for bankruptcy protection, making it the first big U.S. retailer to fall victim to the coronavirus pandemic. J.Crew is not the first to seek protection during the coronavirus outbreak, and no one expects it to be the last. (more...)
Uber to design tech to check if drivers are wearing masks Uber to design tech to check if drivers are wearing masks
- May 04, 2020

It's unclear, however, whether the new technology will be part of this check or introduced as a separate function, and how Uber will hold riders accountable. What is not known is if an Uber driver will have the power to eject a passenger from their vehicle if that passenger takes off their mask mid-trip, nor whether that driver can refuse to pick up a passenger in the first place if they are not wearing a face covering when they arrive for pickup. (more...)

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