Markets
BC reports 10 new coronavirus cases and two new deaths
- May 24, 2020
Adrian Dix, Minister of Health, and Dr. Bonnie Henry, B.C.'s provincial health officer, have today (May 23) issued the following joint statement regarding updates on the novel coronavirus (COVID-19) response in British Columbia. There are 310 active cases of COVID-19 in the province, and 2,042 people who tested positive have recovered. There is one new community outbreak with five confirmed cases at Nature's Touch, a frozen fruit processing plant in Abbotsford . (more...)
- May 24, 2020
Adrian Dix, Minister of Health, and Dr. Bonnie Henry, B.C.'s provincial health officer, have today (May 23) issued the following joint statement regarding updates on the novel coronavirus (COVID-19) response in British Columbia. There are 310 active cases of COVID-19 in the province, and 2,042 people who tested positive have recovered. There is one new community outbreak with five confirmed cases at Nature's Touch, a frozen fruit processing plant in Abbotsford . (more...)
Coronavirus: Car rental firm Hertz files for bankruptcy
- May 24, 2020
With almost $19bn (£15.6bn) of debt and roughly 38,000 employees worldwide as of the end of 2019, Hertz is among the largest companies to be undone by the pandemic. Hertz has until Friday to make about $400 million in lease payments for its fleet of vehicles or extend a forbearance agreement with its creditors, the news outlet reported. (more...)
- May 24, 2020
With almost $19bn (£15.6bn) of debt and roughly 38,000 employees worldwide as of the end of 2019, Hertz is among the largest companies to be undone by the pandemic. Hertz has until Friday to make about $400 million in lease payments for its fleet of vehicles or extend a forbearance agreement with its creditors, the news outlet reported. (more...)
U.S. oil price turns negative for first time in history
- May 24, 2020
Its deflationary effect threatens to further cripple economies around the world already reeling from coronavirus-fueled lockdowns. Commercial crude oil inventories in the USA rose by 15 million barrels, or 3%, to 518.6 million barrels for the week ending April 17, according to data released by the Energy Information Administration (EIA) on Wednesday. (more...)
- May 24, 2020
Its deflationary effect threatens to further cripple economies around the world already reeling from coronavirus-fueled lockdowns. Commercial crude oil inventories in the USA rose by 15 million barrels, or 3%, to 518.6 million barrels for the week ending April 17, according to data released by the Energy Information Administration (EIA) on Wednesday. (more...)
Coronavirus vaccine: Thailand begins COVID-19 vaccine trials on monkeys
- May 23, 2020
A risk among the test subjects is something called "disease enhancement" which causes a vaccine to make the disease worse - something that's happened in animal trials for vaccines for relatives of COVID-19. "How quickly we reach the numbers required will depend on the levels of virus transmission in the community". "We are scaling up on a conservative basis of about 4 to 5 million doses a month to begin with", Chief Executive Adar Poonawalla told Reuters, adding the company was in ... (more...)
- May 23, 2020
A risk among the test subjects is something called "disease enhancement" which causes a vaccine to make the disease worse - something that's happened in animal trials for vaccines for relatives of COVID-19. "How quickly we reach the numbers required will depend on the levels of virus transmission in the community". "We are scaling up on a conservative basis of about 4 to 5 million doses a month to begin with", Chief Executive Adar Poonawalla told Reuters, adding the company was in ... (more...)
How Target's closures will impact Bowen store
- May 23, 2020
So where did it all go wrong for the once-booming chain? It is also focusing on increasing digital offerings by both Target and Kmart . "I don't think there is too much shock in this announcement as most analysts identified several years ago numerous shortcomings associated with the Target brand", Dr Mortimer said. (more...)
- May 23, 2020
So where did it all go wrong for the once-booming chain? It is also focusing on increasing digital offerings by both Target and Kmart . "I don't think there is too much shock in this announcement as most analysts identified several years ago numerous shortcomings associated with the Target brand", Dr Mortimer said. (more...)
Hong Kong: No double standard in safeguarding national security
- May 23, 2020
This time, Beijing has chose to circumvent the territory's law-making body using what critics say are dubious legal grounds under the Basic Law, which has served as a sort of constitution for Hong Kong since its return to China from British colonial rule in 1997. (more...)
- May 23, 2020
This time, Beijing has chose to circumvent the territory's law-making body using what critics say are dubious legal grounds under the Basic Law, which has served as a sort of constitution for Hong Kong since its return to China from British colonial rule in 1997. (more...)
BEASTMODE: DeSantis Erupts Over Media’s Prediction of Florida Catastrophe
- May 23, 2020
Earlier this week, Florida's Covid-19 statistics were challenged by local and media outlets based on the claims of Rebekah Jones, a former staff member at the Florida Department of Health, who claimed she was sacked for not manipulating coronavirus data in a positive way. (more...)
- May 23, 2020
Earlier this week, Florida's Covid-19 statistics were challenged by local and media outlets based on the claims of Rebekah Jones, a former staff member at the Florida Department of Health, who claimed she was sacked for not manipulating coronavirus data in a positive way. (more...)
Senate confirms Donald Trump's pick as USA intel chief
- May 23, 2020
Sen. During the hearing, Mr. Ratcliffe was part of a select group of House members who supported the president during the trial, providing statements to the media on the president's behalf. Ratcliffe will fulfill these responsibilities. Sen. Chuck Grassley (R-Iowa) urged Ratcliffe to remember that "transparency brings accountability" and that "the public's business ought to be public by its very nature". (more...)
- May 23, 2020
Sen. During the hearing, Mr. Ratcliffe was part of a select group of House members who supported the president during the trial, providing statements to the media on the president's behalf. Ratcliffe will fulfill these responsibilities. Sen. Chuck Grassley (R-Iowa) urged Ratcliffe to remember that "transparency brings accountability" and that "the public's business ought to be public by its very nature". (more...)
Virus-hit Hertz declares bankruptcy in US and Canada
- May 23, 2020
Hertz ( HTZ ) is reportedly in a deadlock with its creditors as it looks to come to an agreement over lease payments for its vehicle fleet as it attempts to avoid filing for bankruptcy. In its first-quarter report filed earlier in May with securities regulators, the company said it may not be able to repay or refinance debt and may not have enough cash to keep operating. (more...)
- May 23, 2020
Hertz ( HTZ ) is reportedly in a deadlock with its creditors as it looks to come to an agreement over lease payments for its vehicle fleet as it attempts to avoid filing for bankruptcy. In its first-quarter report filed earlier in May with securities regulators, the company said it may not be able to repay or refinance debt and may not have enough cash to keep operating. (more...)
Did Volkswagen Pull an Ad Because it Included a Racist Slur?
- May 23, 2020
The ad, which was shown on Instagram's Story feature, showed a large, pale-skinned hand appearing to push a dark-skinned man around a yellow VW Golf parked on a street, before flicking him into a doorway away from the vehicle. We apologise to the entire public for this film. A tagline reading "Der neue Golf" - meaning "The new Golf" - then fades from the screen in a way that appears to spell the N-word in German, sparking intense online backlash, according to the UK Telegraph . (more...)
- May 23, 2020
The ad, which was shown on Instagram's Story feature, showed a large, pale-skinned hand appearing to push a dark-skinned man around a yellow VW Golf parked on a street, before flicking him into a doorway away from the vehicle. We apologise to the entire public for this film. A tagline reading "Der neue Golf" - meaning "The new Golf" - then fades from the screen in a way that appears to spell the N-word in German, sparking intense online backlash, according to the UK Telegraph . (more...)
Massachusetts Sees Another 38,000 New Unemployment Claims
- May 23, 2020
Labor Department's adjusted figure for the week ended May 9. As New Jersey continues to see a flattening of the curve COVID-19 outbreak, the state has seen a rise in unemployment rates since pandemic began. The additional weekly $600 created by the new Federal Pandemic Unemployment Compensation program is retroactive to the week ending April 4 and is available through July 25. (more...)
- May 23, 2020
Labor Department's adjusted figure for the week ended May 9. As New Jersey continues to see a flattening of the curve COVID-19 outbreak, the state has seen a rise in unemployment rates since pandemic began. The additional weekly $600 created by the new Federal Pandemic Unemployment Compensation program is retroactive to the week ending April 4 and is available through July 25. (more...)
Global Stocks Fall as China Flexes Muscles Over Hong Kong
- May 23, 2020
Late in the session, stocks edged lower after the U.S. Commerce Department said it was adding 33 Chinese companies and other institutions to an economic blacklist for human rights violations and to address U.S. Ten of the 11 major S&P 500 sub-indices were trading lower, led by energy as oil prices sank 5%. Smaller rival Pinduoduo Inc's US-listed shares gained 1% after posting upbeat earnings report. (more...)
- May 23, 2020
Late in the session, stocks edged lower after the U.S. Commerce Department said it was adding 33 Chinese companies and other institutions to an economic blacklist for human rights violations and to address U.S. Ten of the 11 major S&P 500 sub-indices were trading lower, led by energy as oil prices sank 5%. Smaller rival Pinduoduo Inc's US-listed shares gained 1% after posting upbeat earnings report. (more...)
Half of Facebook employees to work remotely in 10 years - Zuckerberg
- May 23, 2020
Zuckerberg shared the video broadcast on Facebook publicly, saying in a post , "This meeting is normally for employees only, but I wanted to share it externally in case our research or approach is helpful to other organizations thinking about what the future of work looks like". (more...)
- May 23, 2020
Zuckerberg shared the video broadcast on Facebook publicly, saying in a post , "This meeting is normally for employees only, but I wanted to share it externally in case our research or approach is helpful to other organizations thinking about what the future of work looks like". (more...)
Pompeo: China measure a 'death knell' for Hong Kong autonomy
- May 23, 2020
For two decades, Beijing has been frustrated by widespread popular opposition to national security laws that were thwarted by mass protests in Hong Kong during an initial push in 2003. The State Department said 85,000 US citizens lived in Hong Kong in 2018. President Trump has also weighed in, saying the USA would react strongly if it went through - without giving details. (more...)
- May 23, 2020
For two decades, Beijing has been frustrated by widespread popular opposition to national security laws that were thwarted by mass protests in Hong Kong during an initial push in 2003. The State Department said 85,000 US citizens lived in Hong Kong in 2018. President Trump has also weighed in, saying the USA would react strongly if it went through - without giving details. (more...)
Senate passes bill to delist Chinese companies from U.S. stock exchanges
- May 22, 2020
Shares of Chinese e-commerce giant Alibaba saw its US-listed shares fall more than 2 per cent on the development. The legislation requires companies to certify that they are not owned or controlled by a foreign government. "So I look forward to seeing that", Pelosi said. The Senate also passed a separate bill to sanction Chinese officials over human rights abuses against Muslim minorities, which is now being discussed by the House with guidance from lawmakers and members of the relevant ... (more...)
- May 22, 2020
Shares of Chinese e-commerce giant Alibaba saw its US-listed shares fall more than 2 per cent on the development. The legislation requires companies to certify that they are not owned or controlled by a foreign government. "So I look forward to seeing that", Pelosi said. The Senate also passed a separate bill to sanction Chinese officials over human rights abuses against Muslim minorities, which is now being discussed by the House with guidance from lawmakers and members of the relevant ... (more...)
Outrage in Hong Kong as China pushes security law
- May 22, 2020
Trump and Pompeo have accused Beijing of being responsible for the coronavirus pandemic by not acting more quickly - an argument that critics say is meant to deflect from Trump's own handling of the crisis. President Trump has also weighed in, saying the U.S. would react strongly if it went through - without giving details. For months, hundreds of thousands of Kong Kongers risked their lives and their livelihoods by protesting efforts by the city's pro-Beijing leaders to extend China's ... (more...)
- May 22, 2020
Trump and Pompeo have accused Beijing of being responsible for the coronavirus pandemic by not acting more quickly - an argument that critics say is meant to deflect from Trump's own handling of the crisis. President Trump has also weighed in, saying the U.S. would react strongly if it went through - without giving details. For months, hundreds of thousands of Kong Kongers risked their lives and their livelihoods by protesting efforts by the city's pro-Beijing leaders to extend China's ... (more...)
Canada's Inflation Rate Enters Negative Territory Amid Economic Downturn
- May 22, 2020
Also, food and core inflation rose to 0.93% and 1.18% (from 0.80% and 0.94% in March) respectively. "On month on month basis however, April 2020 food inflation was highest in Akwa Ibom, Lagos and Oyo, while Bayelsa, Ebonyi and Enugu recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate)", the NBS said. (more...)
- May 22, 2020
Also, food and core inflation rose to 0.93% and 1.18% (from 0.80% and 0.94% in March) respectively. "On month on month basis however, April 2020 food inflation was highest in Akwa Ibom, Lagos and Oyo, while Bayelsa, Ebonyi and Enugu recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate)", the NBS said. (more...)
Food delivery platform Swiggy starts alcohol home delivery service
- May 22, 2020
Amazon already has a strong presence in India with its e-commerce business and the food delivery services would only add an attractive option for the company that has been investing heavily in the country. Anand Lunia, a VC at India Quotient, said earlier this year that the food delivery firms have little choice but to keep subsidizing the cost of food items on their platform, as otherwise most of their customers can't afford them. (more...)
- May 22, 2020
Amazon already has a strong presence in India with its e-commerce business and the food delivery services would only add an attractive option for the company that has been investing heavily in the country. Anand Lunia, a VC at India Quotient, said earlier this year that the food delivery firms have little choice but to keep subsidizing the cost of food items on their platform, as otherwise most of their customers can't afford them. (more...)
Zuckerberg insists Facebook ready for ‘arms race’ over 2020 United States election interference
- May 22, 2020
On Thursday, Zuckerberg said an employee survey indicated a lot of interest in permanent remote work, and that he saw benefits in allowing more people to shift away from offices. Facebook said the disruption was only to viewers outside the company and Mr. Zuckerberg was almost done. Zuckerberg told the BBC in an interview that the social network was better prepared to counter online misinformation campaigns but admitted Facebook was "behind" during the 2016 election which Donald Trump won. (more...)
- May 22, 2020
On Thursday, Zuckerberg said an employee survey indicated a lot of interest in permanent remote work, and that he saw benefits in allowing more people to shift away from offices. Facebook said the disruption was only to viewers outside the company and Mr. Zuckerberg was almost done. Zuckerberg told the BBC in an interview that the social network was better prepared to counter online misinformation campaigns but admitted Facebook was "behind" during the 2016 election which Donald Trump won. (more...)
Banks, financial stocks under pressure as RBI extends moratorium on loan repayment
- May 22, 2020
On Marc 27, Das announced a Rs 3.74 lakh crore (1.8% of GDP) package, which included Targeted Long-Term Repo Operations (TLTRO) worth Rs 1,00,000 crore; Cash Reserve Ratio (CRR) was cut by 100 basis points to 3 per cent; and accommodation under Marginal Standing Facility was hiked from 2% of Statutory Liquidity Ration to 3%: Rs 1,37,000 crore. (more...)
- May 22, 2020
On Marc 27, Das announced a Rs 3.74 lakh crore (1.8% of GDP) package, which included Targeted Long-Term Repo Operations (TLTRO) worth Rs 1,00,000 crore; Cash Reserve Ratio (CRR) was cut by 100 basis points to 3 per cent; and accommodation under Marginal Standing Facility was hiked from 2% of Statutory Liquidity Ration to 3%: Rs 1,37,000 crore. (more...)
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