Markets
At-Home COVID-19 Collection Kit Authorized by FDA
- May 17, 2020
The agency issued an emergency use authorization to Everlywell for its COVID-19 Test Home Collection Kit, which allows individuals (screened by their healthcare provider) to self-collect a nasal swab sample. The testing program, which offered at-home testing kits to Seattle-area residents under authorization from Washington state, was ordered to stop activities and wait for additional approval from the FDA. (more...)
- May 17, 2020
The agency issued an emergency use authorization to Everlywell for its COVID-19 Test Home Collection Kit, which allows individuals (screened by their healthcare provider) to self-collect a nasal swab sample. The testing program, which offered at-home testing kits to Seattle-area residents under authorization from Washington state, was ordered to stop activities and wait for additional approval from the FDA. (more...)
SpaceX subsidy request was rejected by California officials over Tesla dispute
- May 17, 2020
The news of the new factory confirms the claims that Tesla will move its headquarters elsewhere. The electric vehicle maker has said it wants the factory to be in the center of the country and closer to the east coast markets. Musk tweeted in March that Tesla was scouting locations for a so-called "Cybertruck Gigafactory". Musk essentially dared county officials to arrest him for defying stay-at-home orders. (more...)
- May 17, 2020
The news of the new factory confirms the claims that Tesla will move its headquarters elsewhere. The electric vehicle maker has said it wants the factory to be in the center of the country and closer to the east coast markets. Musk tweeted in March that Tesla was scouting locations for a so-called "Cybertruck Gigafactory". Musk essentially dared county officials to arrest him for defying stay-at-home orders. (more...)
William Hill punters bet on table tennis in sports lull
- May 17, 2020
Bookmaker William Hill has reported an increase in gambling on "alternative products", including table tennis and emerging market football. Online International net revenue grew 35 per cent during the period due to a strong performance in gaming, including a Spanish launch for its Mr Green entity. (more...)
- May 17, 2020
Bookmaker William Hill has reported an increase in gambling on "alternative products", including table tennis and emerging market football. Online International net revenue grew 35 per cent during the period due to a strong performance in gaming, including a Spanish launch for its Mr Green entity. (more...)
McDonald's will look radically different when it opens
- May 17, 2020
I want to reiterate the restaurants, drive thrus and their auto parks remain closed, we will only be serving food via Uber Eats this week. Most locations closed for dine-in service in March due to COVID-19. Ultimately it's up to the franchisees to choose when to reopen dine-in service and how to staff restaurants. "The food company has said it is "working closely with Uber Eats" to ensure the safety and wellbeing of delivery drivers, which includes perspex screens, sanitising stations and ... (more...)
- May 17, 2020
I want to reiterate the restaurants, drive thrus and their auto parks remain closed, we will only be serving food via Uber Eats this week. Most locations closed for dine-in service in March due to COVID-19. Ultimately it's up to the franchisees to choose when to reopen dine-in service and how to staff restaurants. "The food company has said it is "working closely with Uber Eats" to ensure the safety and wellbeing of delivery drivers, which includes perspex screens, sanitising stations and ... (more...)
Trudeau hopes government can help Air Canada following announcement of layoffs
- May 17, 2020
Air Canada will cut at least 20,000 jobs, or about half its workforce, amid the Covid-19 pandemic, the Canadian Press reported. Prime Minister Justin Trudeau says the government will work closely with Air Canada to see if any more help can be offered after the airline announced mass layoffs yesterday. (more...)
- May 17, 2020
Air Canada will cut at least 20,000 jobs, or about half its workforce, amid the Covid-19 pandemic, the Canadian Press reported. Prime Minister Justin Trudeau says the government will work closely with Air Canada to see if any more help can be offered after the airline announced mass layoffs yesterday. (more...)
China’s factory output posts first increase for 2020, but consumption still weak
- May 17, 2020
The production of oil, coal, metals and electricity all increased as plants restarted operations last month. However, it continues to face major challenges in recovery as the pandemic has now swept the globe, affecting other major economies and trading partners. (more...)
- May 17, 2020
The production of oil, coal, metals and electricity all increased as plants restarted operations last month. However, it continues to face major challenges in recovery as the pandemic has now swept the globe, affecting other major economies and trading partners. (more...)
JC Penney executives receiving bonuses amid COVID-19 financial woes
- May 17, 2020
Stage Stores Inc, a USA department store chain selling mid-priced apparel at hundreds of stores in mostly rural areas, said earlier this week it would liquidate unless it finds a buyer. That will include "reestablishing the fundamentals of retail, re-envisioning its merchandise offerings, and rolling out new innovations". Add JCPenney to the list of retailers filing for bankruptcy. (more...)
- May 17, 2020
Stage Stores Inc, a USA department store chain selling mid-priced apparel at hundreds of stores in mostly rural areas, said earlier this week it would liquidate unless it finds a buyer. That will include "reestablishing the fundamentals of retail, re-envisioning its merchandise offerings, and rolling out new innovations". Add JCPenney to the list of retailers filing for bankruptcy. (more...)
Tesla is working on making electric cars less expensive
- May 17, 2020
For example, Dalhousie University has detailed a manganese cobalt oxide (NMC) crystal structure for battery cathodes that can resist wear over time. Tesla has an exclusive licensing arrangement with the university. Is CATL making LFP cells for less than 60$/kWh? We don't know but look forward to Tesla's Battery Day scheduled for later this month. (more...)
- May 17, 2020
For example, Dalhousie University has detailed a manganese cobalt oxide (NMC) crystal structure for battery cathodes that can resist wear over time. Tesla has an exclusive licensing arrangement with the university. Is CATL making LFP cells for less than 60$/kWh? We don't know but look forward to Tesla's Battery Day scheduled for later this month. (more...)
Takeaways From Nirmala Sitharaman's Announcements For Defence, Aviation
- May 16, 2020
Addressing her fourth press briefing today, Sitharaman said empowered Group of Secretaries will be formed for fast track clearance of investment projects. We have now come to a conclusion that we shall notify a list of weapons and platforms which shall not be allowed for import. The minister said that there have been cases when unrealistic GSQRs have resulted in a lengthy search for weapons and often results in the selection of a single vendor that is against the rules. (more...)
- May 16, 2020
Addressing her fourth press briefing today, Sitharaman said empowered Group of Secretaries will be formed for fast track clearance of investment projects. We have now come to a conclusion that we shall notify a list of weapons and platforms which shall not be allowed for import. The minister said that there have been cases when unrealistic GSQRs have resulted in a lengthy search for weapons and often results in the selection of a single vendor that is against the rules. (more...)
Germany falls into recession amid pandemic shutdown
- May 16, 2020
Growth in Germany was already lacklustre before the onset of the pandemic, as the US-China trade war cast a shadow over the economy, our correspondent points out. It was a sharp contraction overall, but so far at least, the blows to the German economy have not generally been as severe as those suffered by the rest of the eurozone. (more...)
- May 16, 2020
Growth in Germany was already lacklustre before the onset of the pandemic, as the US-China trade war cast a shadow over the economy, our correspondent points out. It was a sharp contraction overall, but so far at least, the blows to the German economy have not generally been as severe as those suffered by the rest of the eurozone. (more...)
No full aviation recovery until at least 2023, IATA predicts
- May 16, 2020
On the other is the scenario in which lockdowns are extended towards the third quarter of the year as countries begin to see waves of reinfection after lifting lockdown restrictions. But rebuilding passenger confidence will take longer. And it must build confidence among governments that borders can be opened to travelers because a layered approach of measures has been properly implemented globally. (more...)
- May 16, 2020
On the other is the scenario in which lockdowns are extended towards the third quarter of the year as countries begin to see waves of reinfection after lifting lockdown restrictions. But rebuilding passenger confidence will take longer. And it must build confidence among governments that borders can be opened to travelers because a layered approach of measures has been properly implemented globally. (more...)
Gains Extended Amid Signs of China Demand Pickup
- May 16, 2020
Oil is still down more than 50% this year after a rout that pushed prices below zero and the road back to pre-virus levels of demand looks long and uncertain. Global oil production is on track for a historic decline this month to the lowest level in nine years, according to a monthly report from the IEA on Thursday. (more...)
- May 16, 2020
Oil is still down more than 50% this year after a rout that pushed prices below zero and the road back to pre-virus levels of demand looks long and uncertain. Global oil production is on track for a historic decline this month to the lowest level in nine years, according to a monthly report from the IEA on Thursday. (more...)
How major United States stock indexes fared Friday
- May 16, 2020
Meanwhile, economic data continued to paint a grim picture with the latest batch of reports indicating United States retail sales and manufacturing output endured record declines in April as the virus-led slump seeped into the second quarter. (more...)
- May 16, 2020
Meanwhile, economic data continued to paint a grim picture with the latest batch of reports indicating United States retail sales and manufacturing output endured record declines in April as the virus-led slump seeped into the second quarter. (more...)
Twitter Announces a Permanent, 'Forever' Work-From-Home Model For Some Employees
- May 16, 2020
Twitter said the past two months have proven that it's possible for remote workers to thrive and produce quality work. That much was made clear Tuesday morning when Dorsey began what he thought was a company-only livestream on Twitter-owned Periscope to discuss "consumer work" and "updates to the board". (more...)
- May 16, 2020
Twitter said the past two months have proven that it's possible for remote workers to thrive and produce quality work. That much was made clear Tuesday morning when Dorsey began what he thought was a company-only livestream on Twitter-owned Periscope to discuss "consumer work" and "updates to the board". (more...)
Amazon founder to become world’s first trillionaire
- May 15, 2020
The research predicts Bezos will become a trillionaire in 2026. His ex-wife, MacKenzie Bezos , is one of the richest woman in the world - valued at $46 billion after walking away with a 4% stake in Amazon after their highly publicised divorce a year ago. (more...)
- May 15, 2020
The research predicts Bezos will become a trillionaire in 2026. His ex-wife, MacKenzie Bezos , is one of the richest woman in the world - valued at $46 billion after walking away with a 4% stake in Amazon after their highly publicised divorce a year ago. (more...)
German economy shrinks 2.2 percent in Q1 on coronavirus impact
- May 15, 2020
In year-on-year terms, the economy took a 2.3 percent hit. The agency also revised its gross domestic product (GDP) figure for the final quarter of 2019 from zero growth to a contraction of 0.1 percent. Germany's economy ministry also said the economic downturn is expected to accelerate in the current quarter. Most shops have reopened since the end of April, when lockdown restrictions were eased. (more...)
- May 15, 2020
In year-on-year terms, the economy took a 2.3 percent hit. The agency also revised its gross domestic product (GDP) figure for the final quarter of 2019 from zero growth to a contraction of 0.1 percent. Germany's economy ministry also said the economic downturn is expected to accelerate in the current quarter. Most shops have reopened since the end of April, when lockdown restrictions were eased. (more...)
Australia 'standing its ground' navigating trade tensions with China
- May 15, 2020
Australia is pushing for an independent inquiry into the coronavirus outbreak to help prevent future pandemics, but the move has angered China, its largest trading partner, which believes such a call is anti-China propaganda. Birmingham has said the beef ban was linked to issues with labelling and health certificates, while the barley tariffs were related to an anti-dumping case. (more...)
- May 15, 2020
Australia is pushing for an independent inquiry into the coronavirus outbreak to help prevent future pandemics, but the move has angered China, its largest trading partner, which believes such a call is anti-China propaganda. Birmingham has said the beef ban was linked to issues with labelling and health certificates, while the barley tariffs were related to an anti-dumping case. (more...)
Pelosi Unveils $3T Relief Package
- May 15, 2020
The bill provides almost $1 trillion to states and cities to avert layoffs of police, firefighters and other essential workers as tax revenues tank during the shutdown. The CARES Act is the largest emergency aid package in history, at more than $2 trillion. That's not almost as much as the USPS asked for from lawmakers last week. (more...)
- May 15, 2020
The bill provides almost $1 trillion to states and cities to avert layoffs of police, firefighters and other essential workers as tax revenues tank during the shutdown. The CARES Act is the largest emergency aid package in history, at more than $2 trillion. That's not almost as much as the USPS asked for from lawmakers last week. (more...)
Sensex Skids 886 Pts As Stimulus Euphoria Fizzles Out
- May 15, 2020
Domestic equity indices kicked off Friday's session on a week note as investors remained largely unimpressed by the relief measures announced by the government. After crashing over 955 points during the day, the 30-share index settled 885.72 points or 2.77 per cent lower at 31,122.89. Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading marginally higher. (more...)
- May 15, 2020
Domestic equity indices kicked off Friday's session on a week note as investors remained largely unimpressed by the relief measures announced by the government. After crashing over 955 points during the day, the 30-share index settled 885.72 points or 2.77 per cent lower at 31,122.89. Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading marginally higher. (more...)
South Dakota Scores Big Numbers in the Paycheck Protection Plan
- May 15, 2020
Even as states begin to navigate reopening, the staggering depth of the economic fallout from the coronavirus pandemic is drawing calls from increasingly desperate small business owners for changes to the massive federal program created to keep them - and their workers - afloat. (more...)
- May 15, 2020
Even as states begin to navigate reopening, the staggering depth of the economic fallout from the coronavirus pandemic is drawing calls from increasingly desperate small business owners for changes to the massive federal program created to keep them - and their workers - afloat. (more...)
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