Markets


China's industrial output continues to recover China's industrial output continues to recover
- July 18, 2020

China's economic recovery is vulnerable to losing momentum as key trading partners from Japan to the USA struggle with resurgences of the deadly coronavirus and resort to fresh measures to control its spread. Retail sales fell by 2.8% during May. Industrial output went up 4.4 percent year on year in the second quarter. "Our calculation of real GDP disagrees with the consensus-beating print, with growth probably flat in the second quarter", he said. (more...)
Maserati Ghibli Hybrid Unveiled With 330 Horsepower And A Facelift Maserati Ghibli Hybrid Unveiled With 330 Horsepower And A Facelift
- July 18, 2020

In fact, the challenge facing Maserati was to enter the world of electrification without altering the brand's core philosophy and values. The result? The creation of the best possible hybrid. The powertrain comprises a turbocharged 2,0-litre, four-cylinder petrol engine with a 48 V alternator and an additional electric supercharger, supported by a battery mounted at the rear of the vehicle. (more...)
Crude Oil Futures Settle Lower On Concerns About Energy Demand Crude Oil Futures Settle Lower On Concerns About Energy Demand
- July 18, 2020

Fears remain however of a second wave of COVID-19, highlighted recently by new lockdowns in some U.S. states, which would crimp economic activity and stall the nascent recovery. Analysts estimate U.S. gasoline stockpiles fell by 900,000 barrels and crude oil inventories fell by 2.3 million barrels in the week to July 10, a preliminary Reuters poll showed. (more...)
American and JetBlue Ink New Agreement American and JetBlue Ink New Agreement
- July 18, 2020

American Airlines plans to lay off or furlough as many as 25,000 workers this fall, and Tulsa may feel it in a big way. The lawmakers' letter, signed by House of Representatives Committee on Transportation and Infrastructure Chair Peter DeFazio and other Democrats, said "with the current resurgence of COVID-19 in several states across the country and a vaccine for the virus yet to be developed, passenger demand for air travel will not recover before" September 30 and "hundreds of thousands ... (more...)
Apple asks retail employees to help with online customer support Apple asks retail employees to help with online customer support
- July 17, 2020

The tech giant will ship Covid-19 test kits to its workers' homes, the company confirmed to CNN Business on Monday. The number of Apple employees allowed in buildings and specific work areas is limited, and masks and temperature checks are required. (more...)
Amazon Begins Screening Workers For COVID-19 Symptoms Amazon Begins Screening Workers For COVID-19 Symptoms
- July 17, 2020

Amazon .com Inc.is letting most corporate employees work from home until January and will continue restricting business travel, echoing growing fears that the pandemic will linger until at least next year. "There are several risks for the employee to consider such as personal income tax, visa requirements, and for the company, such as payroll and corporate tax associated with working from a location that is not an employee's regular, contracted county, state, or province", the policy page ... (more...)
Goldman Sachs profits top estimates, shares jump Goldman Sachs profits top estimates, shares jump
- July 17, 2020

Profits came in at US$2.2 billion (RM9.38 billion), translating into US$6.26 per share. However that figure is significantly smaller than the amounts JPMorgan Chase, Citigroup and Wells Fargo had to set aside, mostly reflecting the small size of Goldman's consumer banking business compared to its competition. (more...)
Air India ends WFH, asks employees to report from July 20 Air India ends WFH, asks employees to report from July 20
- July 17, 2020

Employees are being evaluated by a committee in the following areas: adequacy, productivity, integrity, level of service, employee health, an instance of the employee's unavailability for duty due to ill health or otherwise, and turnover throughout the past. (more...)
Crude oil prices slip amid uncertainty over fuel demand, easing supply curbs Crude oil prices slip amid uncertainty over fuel demand, easing supply curbs
- July 17, 2020

Data from the Energy Information Administration showed US crude inventories fell 7.5 million barrels last week, shrinking much more than the 2.1 million-barrel drop expected by analysts in a Reuters poll. OPEC+, led by OPEC's top producer Saudi Arabia and by Russian Federation, agreed in June to extend the record production cuts of 9.7 million bpd by one month through the end of July. (more...)
Ireland wins appeal against EU's €13 billion Apple case Ireland wins appeal against EU's €13 billion Apple case
- July 17, 2020

We're proud to be the largest taxpayer in the world as we know the important role tax payments play in society". Regulators failed to prove that Apple's tax treatment by Ireland was an unfair subsidy and were wrong to find Apple's Irish branches were responsible for profits it made in Europe, the European Union court said. (more...)
Lockdown claimed nearly 650,000 jobs since March Lockdown claimed nearly 650,000 jobs since March
- July 17, 2020

There were also signs of economic inactivity rising, with people out of work not now looking for new jobs, the Office said. The number of United Kingdom workers on payrolls fell by 649,000 between March and June, data by the Office of National Statistics (ONS) revealed on Thursday. (more...)
Prices of export, import in US expands in June Prices of export, import in US expands in June
- July 17, 2020

The largest upwards contribution (of 0.09 per cent) to the CPIH 12-month inflation rate between May and June 2020 came from recreation and culture, in which prices rose 0.2 per cent overall, compared to a fall of 0.4 per cent in the same period previous year. (more...)
How major USA stock indexes fared Thursday How major USA stock indexes fared Thursday
- July 17, 2020

Apple rose 1.6 per cent after Europe's second-top court rejected an European Union order to the iPhone maker to pay 13 billion euros (US$14.78 billion) in Irish back taxes. Twitter's shares fell 1% after the social media company was hit with a widespread attack Wednesday that allowed hackers to take over an array of accounts including those of celebrities, politicians and billionaires. (more...)
Washington Redskins executives accused of sexual harassment, verbal abuse Washington Redskins executives accused of sexual harassment, verbal abuse
- July 17, 2020

Over the past week, as The Post presented detailed allegations and findings to the club, three team employees accused of improper behavior abruptly departed, including Larry Michael , the club's longtime radio voice, and Alex Santos , the team's director of pro personnel. (more...)
USA announces borders with Mexico, Canada to stay shut another month USA announces borders with Mexico, Canada to stay shut another month
- July 17, 2020

British Columbia's John Horgan said his province expects almost $2 billion in transfers and emphasized the sick-leave program as a key move to make sure nobody feels pressured to go work sick. Trudeau said some of the world's top researchers were working in Canada and in collaboration with partners around the world to develop a vaccine that can end the global pandemic. (more...)
Apple's $15bn tax win highlights a big problem Apple's $15bn tax win highlights a big problem
- July 16, 2020

The Commission believes that constituted illegal aid given to Apple by the Irish state. While 14 billion euros - including interest - would go a long way to plugging the coronavirus-shaped hole in the state's finances, Dublin is seeking to protect a low tax regime that has attracted 250,000 multinational employers. (more...)
Fiat Chrysler And Peugeot Join Forces To Become Stellantis
- July 16, 2020

Stellantis will be the new name of the fourth biggest vehicle company in the world, after conglomerates FCA and PSA merge to form one giant auto manufacturing group. A new logo will accompany the new name, but the names and the logos of the individual brands will remain unchanged. Don't worry though, names like Peugeot aren't going anywhere. (more...)
Over 200000 jobs return but unemployment still rises Over 200000 jobs return but unemployment still rises
- July 16, 2020

Bjorn Jarvis, head of labour statistics at the ABS, said: "The easing of COVID-19 restrictions in June saw an extra 280,000 people in the labour force, with more people in employment, and more actively looking and available for work". South Australia recorded the highest unemployment rate at 8.8 per cent (up 0.9), followed by Western Australia on 8.7 per cent (up 0.6) and Queensland on 7.7 per cent (down 0.1). (more...)
Oxford coronavirus vaccine: Does it work? And what happens next? Oxford coronavirus vaccine: Does it work? And what happens next?
- July 16, 2020

Fast-forward to mid-July, and Moderna is ready to share the results of Phase 1 properly, via a study published in a recognized medical journal. Moderna's vaccine trial is ongoing and supported by the National Institute of Allergy and Infectious Diseases (NIAID ), which is part of the National Institute of Health (NIH) in the U.S. (more...)
India Summit: Concern expressed over Modi govts citizenship amendment bill India Summit: Concern expressed over Modi govts citizenship amendment bill
- July 16, 2020

The summit comes after a gap of nearly three years since the 14th India-EU Summit held on October 6, 2017, in New Delhi . It may also be recalled that in February this year, External Affairs Minister (EAM) S. The topics of trade and investments were likely to be on the agenda for Wednesday's summit, reports said. Both sides agreed to cooperate in developing a vaccine for COVID-19. (more...)

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