Markets
Oil prices slip as COVID-19 case surge dents fuel demand hopes
- July 31, 2020
On Thursday, Brent closed down 1.9% but had recovered much of the ground lost from the lowest level since July 10. However, gains were just modest for crude oil futures as worries about energy demand outlook persisted due to continued surge in new coronavirus cases across the world. (more...)
- July 31, 2020
On Thursday, Brent closed down 1.9% but had recovered much of the ground lost from the lowest level since July 10. However, gains were just modest for crude oil futures as worries about energy demand outlook persisted due to continued surge in new coronavirus cases across the world. (more...)
Rio Tinto Share Price Edges Higher as Earnings Top Estimates
- July 31, 2020
Tiwai Point smelter on New Zealand's South Island will be shuttered by next August 2021, the firm said earlier this month.The aluminum industry "continues to face challenging conditions in global markets and policy uncertainty, exacerbated by the impact of Covid-19", and Rio is working to ensure the sustainability of smelters in Australia and Iceland, the company said.Rio's board has approved funding for a feasibility study for Jadar lithium project in Serbia, the company said. (more...)
- July 31, 2020
Tiwai Point smelter on New Zealand's South Island will be shuttered by next August 2021, the firm said earlier this month.The aluminum industry "continues to face challenging conditions in global markets and policy uncertainty, exacerbated by the impact of Covid-19", and Rio is working to ensure the sustainability of smelters in Australia and Iceland, the company said.Rio's board has approved funding for a feasibility study for Jadar lithium project in Serbia, the company said. (more...)
Apple CEO Tim Cook lied to the US Congress
- July 31, 2020
Those four companies combined took in $28.6 billion in profits in just one quarter. Revenue dropped from $31.7bn in Q2 of 2019 to $31.6bn. Google Cloud registered revenue of USD3 billion (a massive 43 per cent growth). The iPhone 12 is expected to be the company's first device with 5G compatibility. Tech giants Amazon , Alphabet , Apple and Facebook all reported better-than-expected results after the market closed yesterday, validating surging valuations built on expectations the ... (more...)
- July 31, 2020
Those four companies combined took in $28.6 billion in profits in just one quarter. Revenue dropped from $31.7bn in Q2 of 2019 to $31.6bn. Google Cloud registered revenue of USD3 billion (a massive 43 per cent growth). The iPhone 12 is expected to be the company's first device with 5G compatibility. Tech giants Amazon , Alphabet , Apple and Facebook all reported better-than-expected results after the market closed yesterday, validating surging valuations built on expectations the ... (more...)
Kodak Steps into Pharmaceuticals Space with Major Financial Aid from US DFC
- July 31, 2020
Kodak will be adding 300 jobs in Rochester, and another 1,200 indirect support jobs to come along with it. The loan will give Kodak a new chance in the pharmaceutical industry after its short stint in drug manufacturing. (DFC) and Department of Defense (DoD) to collaborate on COVID-19 response. The company plans to coordinate closely with the Administration and pharmaceutical manufacturers to identify and prioritize components that are most critical to the American people and US national ... (more...)
- July 31, 2020
Kodak will be adding 300 jobs in Rochester, and another 1,200 indirect support jobs to come along with it. The loan will give Kodak a new chance in the pharmaceutical industry after its short stint in drug manufacturing. (DFC) and Department of Defense (DoD) to collaborate on COVID-19 response. The company plans to coordinate closely with the Administration and pharmaceutical manufacturers to identify and prioritize components that are most critical to the American people and US national ... (more...)
Apple Blockbuster Quarter Boosted by Strong Sales in China
- July 31, 2020
That makes it the first time in nine years that a company other than Samsung or Apple led the quarter, the report says. The United States has effectively blocked Huawei from using Google's services, damaging the attractiveness of the Chinese company's phones overseas, and limited its access to chips crucial for 5G networking. (more...)
- July 31, 2020
That makes it the first time in nine years that a company other than Samsung or Apple led the quarter, the report says. The United States has effectively blocked Huawei from using Google's services, damaging the attractiveness of the Chinese company's phones overseas, and limited its access to chips crucial for 5G networking. (more...)
CPI fell 1.9 per cent in June 2020 quarter
- July 31, 2020
Consumer prices fell by 1.9% in the June quarter, a bit better than the market forecast for a 2.5% slump in the June quarter but still the single largest three-month fall in 72 years, thanks to the impact of the COVID-19 pandemic and lockdowns. (more...)
- July 31, 2020
Consumer prices fell by 1.9% in the June quarter, a bit better than the market forecast for a 2.5% slump in the June quarter but still the single largest three-month fall in 72 years, thanks to the impact of the COVID-19 pandemic and lockdowns. (more...)
Alphabet reports first revenue decline in company history
- July 31, 2020
Alphabet, whose ad sales account for about 78 percent of its revenue , has struggled during past economic slowdowns, as marketing is often the first budget item to get slashed. Despite meeting expectations, advertising fell in the quarter compared with a year ago. Google's ads business has long trended with the broader economy, and the U.S. (more...)
- July 31, 2020
Alphabet, whose ad sales account for about 78 percent of its revenue , has struggled during past economic slowdowns, as marketing is often the first budget item to get slashed. Despite meeting expectations, advertising fell in the quarter compared with a year ago. Google's ads business has long trended with the broader economy, and the U.S. (more...)
When Will We See Passenger Traffic Return To Pre-COVID Levels?
- July 31, 2020
Short-haul travel, mainly domestic travel, is likely to recover more quickly than long-haul, mainly worldwide, travel. IATA says that "scientific advances in fighting COVID-19 including the development of a successful vaccine, could allow a faster recovery". (more...)
- July 31, 2020
Short-haul travel, mainly domestic travel, is likely to recover more quickly than long-haul, mainly worldwide, travel. IATA says that "scientific advances in fighting COVID-19 including the development of a successful vaccine, could allow a faster recovery". (more...)
India’s Q2 jewellery demand falls 74 pc to 44 tonnes
- July 30, 2020
The half-yearly report on the gold market from the World Gold Council and the Refinitiv June quarter survey raises that question as both point to strong buying by ETFs. Gold prices have hit record highs, despite a fall in demand for physical gold, thanks to the Covid-19 pandemic. "India's Covid journey in H2 will chart the course and pace of economic revival, of which gold demand is an integral part". (more...)
- July 30, 2020
The half-yearly report on the gold market from the World Gold Council and the Refinitiv June quarter survey raises that question as both point to strong buying by ETFs. Gold prices have hit record highs, despite a fall in demand for physical gold, thanks to the Covid-19 pandemic. "India's Covid journey in H2 will chart the course and pace of economic revival, of which gold demand is an integral part". (more...)
President Trump, lagging in the polls, floats idea of delaying election
- July 30, 2020
Trump tweeted Thursday: "With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history". Twenty-nine states do not require voters to provide an excuse to vote absentee. "I'm not going to say "no" and I didn't last time , either". "Even beyond that, there's no accurate count", the US President said. (more...)
- July 30, 2020
Trump tweeted Thursday: "With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history". Twenty-nine states do not require voters to provide an excuse to vote absentee. "I'm not going to say "no" and I didn't last time , either". "Even beyond that, there's no accurate count", the US President said. (more...)
Trump floats November election delay, but that’s not within his power
- July 30, 2020
But Trump has bitterly resisted Democratic-led attempts to increase availability of mail-in voting, saying that this will promote fraud and that Americans should line up at the polls as usual. The most recent public opinion polling in the Biden-Trump race shows the presumptive Democratic nominee leading in national surveys as well as in most of the crucial general election battleground states. (more...)
- July 30, 2020
But Trump has bitterly resisted Democratic-led attempts to increase availability of mail-in voting, saying that this will promote fraud and that Americans should line up at the polls as usual. The most recent public opinion polling in the Biden-Trump race shows the presumptive Democratic nominee leading in national surveys as well as in most of the crucial general election battleground states. (more...)
Lloyds boss António Horta-Osório to step down next year
- July 30, 2020
Horta-Osorio's successor will need to push Lloyds further into wealth management and online services while finding a way to increase profits in an era of nearly zero interest rates, analysts said. Mr Budenberg plans to join the board in October this year, before replacing Lord Blackwell in 2021. Budenberg worked with the British government in the past steering investments in banks as CEO, then Chairman of U.K. (more...)
- July 30, 2020
Horta-Osorio's successor will need to push Lloyds further into wealth management and online services while finding a way to increase profits in an era of nearly zero interest rates, analysts said. Mr Budenberg plans to join the board in October this year, before replacing Lord Blackwell in 2021. Budenberg worked with the British government in the past steering investments in banks as CEO, then Chairman of U.K. (more...)
White House official says enhanced unemployment benefits to expire
- July 30, 2020
Asked what could break the impasse, Mr. Meadows replied, "I don't know that anything will". "We're focused on those two things, we want to take care of them now", Mr. "The rest of it, we're so far apart we don't care". We don't care. We really don't care. The payments aren't enough. "It's a shame to reward badly run radical left Democrats with all of this money they're looking for", Trump said at the White House, complaining about the "big bailout money" for cities. (more...)
- July 30, 2020
Asked what could break the impasse, Mr. Meadows replied, "I don't know that anything will". "We're focused on those two things, we want to take care of them now", Mr. "The rest of it, we're so far apart we don't care". We don't care. We really don't care. The payments aren't enough. "It's a shame to reward badly run radical left Democrats with all of this money they're looking for", Trump said at the White House, complaining about the "big bailout money" for cities. (more...)
Mitsubishi in loss again- to axe Pajero SUV next year
- July 29, 2020
Further along the lines will come the inevitable Triton-based Pajero Sport as well as two new models yet to be named or detailed, let alone confirmed for Australia, while the ASEAN market will also be treated to an exclusive electric vehicle and designated MPV. (more...)
- July 29, 2020
Further along the lines will come the inevitable Triton-based Pajero Sport as well as two new models yet to be named or detailed, let alone confirmed for Australia, while the ASEAN market will also be treated to an exclusive electric vehicle and designated MPV. (more...)
Goldman Sachs Strategist Warns of 'Real Concerns' Over US Dollar
- July 29, 2020
Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy . Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low, while the British pound hit a four-and-a-half-month high of $1.2832. (more...)
- July 29, 2020
Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy . Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low, while the British pound hit a four-and-a-half-month high of $1.2832. (more...)
Google Employees To Not Return To Offices Until July 2021
- July 28, 2020
Pichai's decision makes Google the first major USA company to formalise a long timetable for remote working to help stem the spread of coronavirus . WaPo describes Google's decision as among the "cautious camp of companies" with regard to remote working. (more...)
- July 28, 2020
Pichai's decision makes Google the first major USA company to formalise a long timetable for remote working to help stem the spread of coronavirus . WaPo describes Google's decision as among the "cautious camp of companies" with regard to remote working. (more...)
Florida man accused of lying for $3.9 million in COVID loans
- July 28, 2020
The loans can be forgiven if a percentage is used toward payroll. Congress is considering another major SBA loan infusion as the raging pandemic continues to hurt the US economy. Postal Inspector Bryan Masmela. Fraudulent loan applications were submitted about the companies' respective payroll expenses, investigators said. But prosecutors say the Florida Department of Revenue had no record of wages paid to any of the companies from 2015 through the first quarter of 2020. (more...)
- July 28, 2020
The loans can be forgiven if a percentage is used toward payroll. Congress is considering another major SBA loan infusion as the raging pandemic continues to hurt the US economy. Postal Inspector Bryan Masmela. Fraudulent loan applications were submitted about the companies' respective payroll expenses, investigators said. But prosecutors say the Florida Department of Revenue had no record of wages paid to any of the companies from 2015 through the first quarter of 2020. (more...)
GOP proposes slashing federal unemployment aid
- July 28, 2020
The bill , which comes on top of $2.5T in Covid-related government spending, is the first step toward negotiating a compromise plan with Democrats, who've already passed their own $3.4T stimulus plan in the House. People earning above $100,000 did not qualify for the payment. Compared with the House bill, there is less money for unemployed workers and far less for COVID testing and tracing, but there are provisions to bail out businesses if their employees get sick from coming back to ... (more...)
- July 28, 2020
The bill , which comes on top of $2.5T in Covid-related government spending, is the first step toward negotiating a compromise plan with Democrats, who've already passed their own $3.4T stimulus plan in the House. People earning above $100,000 did not qualify for the payment. Compared with the House bill, there is less money for unemployed workers and far less for COVID testing and tracing, but there are provisions to bail out businesses if their employees get sick from coming back to ... (more...)
Intel announces technology team restructuring amid 7nm woes
- July 28, 2020
Last week, the company had said the smaller, faster 7-nanometer chipmaking technology was six months behind schedule and it would have to rely more on outside chipmakers to keep its products competitive. The primary driver is the yield of Intel's 7nm process, which based on recent data, is now trending approximately twelve months behind the company's internal target. (more...)
- July 28, 2020
Last week, the company had said the smaller, faster 7-nanometer chipmaking technology was six months behind schedule and it would have to rely more on outside chipmakers to keep its products competitive. The primary driver is the yield of Intel's 7nm process, which based on recent data, is now trending approximately twelve months behind the company's internal target. (more...)
Republican Plan to Include Next-Round Payments for Dependents
- July 28, 2020
Now, the Trump administration and Senate Republicans are trying to revive proposals to tie unemployment benefits to prior earnings, pushing for a system in which the federal government ensures workers are earning 70 percent of prior income. (more...)
- July 28, 2020
Now, the Trump administration and Senate Republicans are trying to revive proposals to tie unemployment benefits to prior earnings, pushing for a system in which the federal government ensures workers are earning 70 percent of prior income. (more...)
Latest news
"No Plan" To Protect Residents: LTC Report