Markets
Donald Trump's Personal Valet Tests Positive For Coronavirus
- May 08, 2020
Now we're going to get tested once a day. The President changed his mind after the reaction to his Tuesday announcement showed how popular the task force was, he said. "I have had very little contact, personal contact, with this gentleman". Addressing Abbott as they chatted before reporters, Trump said: "I said yesterday, Governor, all people are warriors in this country". (more...)
- May 08, 2020
Now we're going to get tested once a day. The President changed his mind after the reaction to his Tuesday announcement showed how popular the task force was, he said. "I have had very little contact, personal contact, with this gentleman". Addressing Abbott as they chatted before reporters, Trump said: "I said yesterday, Governor, all people are warriors in this country". (more...)
Coronavirus Job Retention Scheme must help Britain back to work says FTA
- May 08, 2020
The Government pays a portion of furloughed staff their wages up to £2,500 a month, so that employers can keep people employed without having to fire workers . A large number of employers have implemented a pay reduction for furloughed staff (e.g., to 80% or to £2,500 per month, in line with what they can claim back under the Coronavirus Job Retention Scheme (CJRS or the "scheme")). (more...)
- May 08, 2020
The Government pays a portion of furloughed staff their wages up to £2,500 a month, so that employers can keep people employed without having to fire workers . A large number of employers have implemented a pay reduction for furloughed staff (e.g., to 80% or to £2,500 per month, in line with what they can claim back under the Coronavirus Job Retention Scheme (CJRS or the "scheme")). (more...)
Airbnb layoffs: A dramatic downsizing for the COVID-19 era
- May 08, 2020
He further wrote in the letter, Airbnb has been hit hard, and that they expect that their income will be halved compared to what the company earned in 2019. "Because of this, we need to make more fundamental changes to Airbnb by reducing the size of our workforce around a more focused business strategy" Chesky explained. (more...)
- May 08, 2020
He further wrote in the letter, Airbnb has been hit hard, and that they expect that their income will be halved compared to what the company earned in 2019. "Because of this, we need to make more fundamental changes to Airbnb by reducing the size of our workforce around a more focused business strategy" Chesky explained. (more...)
Trump reaffirms desire for arms control with Russia, China in Putin call
- May 08, 2020
Putin stressed that the country must keep moving forward gradually, but did not outline a plan for lifting the restrictions. Visit Business Insider's homepage for more stories . Gov. Larry Hogan of Maryland, a Republican, orchestrated a deal with South Korea for coronavirus tests. Among those who said they meant to take part in the vote on constitutional change, 58 percent said they would back the changes and only 25 percent vote against them. (more...)
- May 08, 2020
Putin stressed that the country must keep moving forward gradually, but did not outline a plan for lifting the restrictions. Visit Business Insider's homepage for more stories . Gov. Larry Hogan of Maryland, a Republican, orchestrated a deal with South Korea for coronavirus tests. Among those who said they meant to take part in the vote on constitutional change, 58 percent said they would back the changes and only 25 percent vote against them. (more...)
3.1 million Americans applied for unemployment benefits last week
- May 08, 2020
I'm leaning toward the downside at this time as more countries and states open their economies, but will be quick to adjust to any reports showing that the curve of the new coronavirus cases is still rising. "The previous largest monthly decline in US nonfarm payrolls (monthly data started in 1939) was 2 million, which occurred in September 1945 at the end of World War II", Reid said . (more...)
- May 08, 2020
I'm leaning toward the downside at this time as more countries and states open their economies, but will be quick to adjust to any reports showing that the curve of the new coronavirus cases is still rising. "The previous largest monthly decline in US nonfarm payrolls (monthly data started in 1939) was 2 million, which occurred in September 1945 at the end of World War II", Reid said . (more...)
Military member near Donald Trump tests positive for coronavirus
- May 08, 2020
Trump also said that the fact that the valet, who is tested weekly for COVID-19, has the virus "just shows you the fallacy - what I've been saying: testing is not a ideal art". The official, speaking on the condition of anonymity to discuss internal thinking, said the membership in the task force group would change as the nature of the crisis evolves. (more...)
- May 08, 2020
Trump also said that the fact that the valet, who is tested weekly for COVID-19, has the virus "just shows you the fallacy - what I've been saying: testing is not a ideal art". The official, speaking on the condition of anonymity to discuss internal thinking, said the membership in the task force group would change as the nature of the crisis evolves. (more...)
Small businesses slash more than 11 million jobs in April
- May 08, 2020
Labor-market data released Wednesday from payment processor Automatic Data Processing Inc ( link ).(ADP) showed private-sector employers shed more than 20 million jobs in April, but the data closely matched the consensus estimate from economists polled by Econoday. (more...)
- May 08, 2020
Labor-market data released Wednesday from payment processor Automatic Data Processing Inc ( link ).(ADP) showed private-sector employers shed more than 20 million jobs in April, but the data closely matched the consensus estimate from economists polled by Econoday. (more...)
Another 3.2 million Americans filed for unemployment last week
- May 08, 2020
The data supported economists' views of a protracted recovery of the economy, which is reeling from nationwide lockdowns to slow the spread of the coronavirus. The labor department reports that MI had the third-highest unemployment rate in the country for the week ending April 18 at 21.7%. The American economy had recorded a sharp, yet expected, loss in job numbers in March report, as the report witnessed a loss of about 701,000 jobs in March, a figure that we expect to be revised in ... (more...)
- May 08, 2020
The data supported economists' views of a protracted recovery of the economy, which is reeling from nationwide lockdowns to slow the spread of the coronavirus. The labor department reports that MI had the third-highest unemployment rate in the country for the week ending April 18 at 21.7%. The American economy had recorded a sharp, yet expected, loss in job numbers in March report, as the report witnessed a loss of about 701,000 jobs in March, a figure that we expect to be revised in ... (more...)
Dairy hardship fund welcomed but 'more may be needed'
- May 07, 2020
That's why we are backing this campaign to drive milk consumption and boost sales. But milk processors are also to blame after a 2018 report by the consumer watchdog found the industry determined what farmers are paid regardless of what price supermarkets charged consumers for milk. (more...)
- May 07, 2020
That's why we are backing this campaign to drive milk consumption and boost sales. But milk processors are also to blame after a 2018 report by the consumer watchdog found the industry determined what farmers are paid regardless of what price supermarkets charged consumers for milk. (more...)
California sues Uber and Lyft for misclassifying drivers as contractors
- May 07, 2020
For the first quarter ending on March 31, Lyft (NASDAQ:LYFT) reports EPS and revenue beats with sales up 24% Y/Y. The firm last week announced plans to axe about 17% of its workforce or nearly 1,000 employees, furlough another 300 people and reduce executive pay. (more...)
- May 07, 2020
For the first quarter ending on March 31, Lyft (NASDAQ:LYFT) reports EPS and revenue beats with sales up 24% Y/Y. The firm last week announced plans to axe about 17% of its workforce or nearly 1,000 employees, furlough another 300 people and reduce executive pay. (more...)
Small businesses shouldn't expect more flexibility for spending PPP funds: labor secretary
- May 07, 2020
For agricultural producers that submitted an EIDL loan application through the streamlined application portal before the legislative change, SBA will move forward and process these applications without the need for reapplying. Overall, though, big banks dominated the lending in the second round. The loans, which are forgivable if at least 75 percent of the money goes toward maintaining payroll, will face increased scrutiny if they're worth more than $2 million, Treasury Secretary Steven ... (more...)
- May 07, 2020
For agricultural producers that submitted an EIDL loan application through the streamlined application portal before the legislative change, SBA will move forward and process these applications without the need for reapplying. Overall, though, big banks dominated the lending in the second round. The loans, which are forgivable if at least 75 percent of the money goes toward maintaining payroll, will face increased scrutiny if they're worth more than $2 million, Treasury Secretary Steven ... (more...)
GBP/USD Turns Higher After the BoE Keeps Rates on Hold
- May 07, 2020
The Bank's analysis, published on Thursday, was based on the assumption that social distancing measures are gradually phased out between June and September. However, given the unpredictable and unprecedented nature of the pandemic, the BoE emphasized that its projections were "unusually uncertain" and subject to many factors, including how businesses and households respond to the crisis. (more...)
- May 07, 2020
The Bank's analysis, published on Thursday, was based on the assumption that social distancing measures are gradually phased out between June and September. However, given the unpredictable and unprecedented nature of the pandemic, the BoE emphasized that its projections were "unusually uncertain" and subject to many factors, including how businesses and households respond to the crisis. (more...)
McDonald's workers shot over dining area closure
- May 07, 2020
The two shot employees were taken to hospital with injures that are not believed to be life threatening. She was subsequently arrested and taken into custody where she is awaiting charges. "Obviously, it's a heinous crime, particularly because these two people were trying to really support public health", Kempczinski said. "I think what you're seeing in this situation is really what you're seeing in a variety of situations across the country, which is this tension about opening and people's ... (more...)
- May 07, 2020
The two shot employees were taken to hospital with injures that are not believed to be life threatening. She was subsequently arrested and taken into custody where she is awaiting charges. "Obviously, it's a heinous crime, particularly because these two people were trying to really support public health", Kempczinski said. "I think what you're seeing in this situation is really what you're seeing in a variety of situations across the country, which is this tension about opening and people's ... (more...)
Another 3.2 million filed new U.S. jobless claims last week
- May 07, 2020
The American economy had recorded a sharp, yet expected, loss in job numbers in March report, as the report witnessed a loss of about 701,000 jobs in March, a figure that we expect to be revised in April's report showing worst figures than the forecast. (more...)
- May 07, 2020
The American economy had recorded a sharp, yet expected, loss in job numbers in March report, as the report witnessed a loss of about 701,000 jobs in March, a figure that we expect to be revised in April's report showing worst figures than the forecast. (more...)
China April copper imports rise as demand recovers; aluminum exports slump
- May 07, 2020
A forecast of analysts by Bloomberg had predicted an 11% dive in exports and a 10% plunge in imports. China's trade surplus in April widened to $45.34 billion on a yearly basis to beat the market expectation of $6.35 billion by a wide margin. (more...)
- May 07, 2020
A forecast of analysts by Bloomberg had predicted an 11% dive in exports and a 10% plunge in imports. China's trade surplus in April widened to $45.34 billion on a yearly basis to beat the market expectation of $6.35 billion by a wide margin. (more...)
Britain needs trade deal with European Union to remove uncertainty - U.S. Chamber
- May 07, 2020
Transitional trade talks between Britain and the European Union began in March and an agreement was originally due by the end of the year, but the health crisis has postponed the deadline. "We want to strike an ambitious deal that opens up new opportunities for our businesses, brings in more investment and creates better jobs for people across the whole of the country", she said. (more...)
- May 07, 2020
Transitional trade talks between Britain and the European Union began in March and an agreement was originally due by the end of the year, but the health crisis has postponed the deadline. "We want to strike an ambitious deal that opens up new opportunities for our businesses, brings in more investment and creates better jobs for people across the whole of the country", she said. (more...)
Crude Oil Pulls Back Amid Profit Taking And Storage Concerns
- May 07, 2020
West Texas Intermediate fell 57 cents to settle at $23.99 a barrel in NY. Crude oil delivery for May rose Rs 88, or 4.89 percent, to Rs 1,889 per barrel at 14:00 hours IST with a business turnover of 7,073 lots. But in a reminder that a supply glut persists, the American Petroleum Institute said on Tuesday that USA crude inventories rose by 8.4 million barrels last week, more than analysts expected. (more...)
- May 07, 2020
West Texas Intermediate fell 57 cents to settle at $23.99 a barrel in NY. Crude oil delivery for May rose Rs 88, or 4.89 percent, to Rs 1,889 per barrel at 14:00 hours IST with a business turnover of 7,073 lots. But in a reminder that a supply glut persists, the American Petroleum Institute said on Tuesday that USA crude inventories rose by 8.4 million barrels last week, more than analysts expected. (more...)
Italy's GDP to fall 9.5% this yr - EC - English
- May 07, 2020
This positive trend has been interrupted by the Covid-19 outbreak. Regarding the the euro area as a whole, GDP is expected to contract by 7.7 percent. Brussels predicts a 6.5% rebound in Italy's GDP in 2021. The forecast also sees private consumption in Greece experiencing a strong decline this year amid limited consumption opportunities during the lockdown and falling disposable income. (more...)
- May 07, 2020
This positive trend has been interrupted by the Covid-19 outbreak. Regarding the the euro area as a whole, GDP is expected to contract by 7.7 percent. Brussels predicts a 6.5% rebound in Italy's GDP in 2021. The forecast also sees private consumption in Greece experiencing a strong decline this year amid limited consumption opportunities during the lockdown and falling disposable income. (more...)
Amazon to hire 100000 to help meet coronavirus-related order spike
- May 07, 2020
As COVID-19 has spread, we've recently seen an increase in people shopping online which has had an impact on how we serve our customers. Amazon is looking to hire 100,000 new employees for its warehouse and delivery operations in the U.S.to keep up with demand during the current coronavirus outbreak , the company said today . (more...)
- May 07, 2020
As COVID-19 has spread, we've recently seen an increase in people shopping online which has had an impact on how we serve our customers. Amazon is looking to hire 100,000 new employees for its warehouse and delivery operations in the U.S.to keep up with demand during the current coronavirus outbreak , the company said today . (more...)
Petrol, diesel prices hiked in Delhi: Details here
- May 07, 2020
To put it in perspective, in January 2014, the excise duty on petrol was ₹9.48 and that on diesel was ₹3.56 a litre. Meanwhile, in Tamil Nadu, petrol's price was hiked by Rs. He demanded immediate rollback of the increased prices on the fuels. "However, the fuel tax increases at state level are likely prove to be inflationary to some extent", Barclays said. (more...)
- May 07, 2020
To put it in perspective, in January 2014, the excise duty on petrol was ₹9.48 and that on diesel was ₹3.56 a litre. Meanwhile, in Tamil Nadu, petrol's price was hiked by Rs. He demanded immediate rollback of the increased prices on the fuels. "However, the fuel tax increases at state level are likely prove to be inflationary to some extent", Barclays said. (more...)
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