Markets
Virtual care group Teladoc buys rival Livongo for $18.5bn
- August 06, 2020
Under the regards to the contract, Livongo's investors will get 0.5920 shares of Teladoc plus $1133 in money for each of their shares. Telemedicine provider Teladoc Health and diabetes coaching company Livongo have agreed to merge in an $18.5 billion deal that will create the first true health tech giant - in an era in which demand for virtual care is surging. (more...)
- August 06, 2020
Under the regards to the contract, Livongo's investors will get 0.5920 shares of Teladoc plus $1133 in money for each of their shares. Telemedicine provider Teladoc Health and diabetes coaching company Livongo have agreed to merge in an $18.5 billion deal that will create the first true health tech giant - in an era in which demand for virtual care is surging. (more...)
Mulan: UK cinemas hit out at 'disappointing' Disney+ release
- August 06, 2020
The company's TV business - led by ESPN and ABC - fared better than expected, in part because Disney deferred payments for sports programming during the COVID-19 shutdown, the company said. The Walt Disney Company Chief Executive Officer Bob Chapek confirmed that Disney + now has 60.5 million subscribers. Of course, if you're on your own and want to watch Mulan , this might feel a bit like a steep price. (more...)
- August 06, 2020
The company's TV business - led by ESPN and ABC - fared better than expected, in part because Disney deferred payments for sports programming during the COVID-19 shutdown, the company said. The Walt Disney Company Chief Executive Officer Bob Chapek confirmed that Disney + now has 60.5 million subscribers. Of course, if you're on your own and want to watch Mulan , this might feel a bit like a steep price. (more...)
'I continue to remain an eternal optimist': RBI governor Shaktikanta Das
- August 06, 2020
The inflation rate for the month of July will be announced on August 12. "However, since there is ample liquidity in the system and transmission of rates is happening, there may be a pause on the reduction of rates", Sur said. On the economic growth front, Governor Das said, without putting any number to it, that India's real gross domestic product would contract in the first half of FY21 as well as full financial year. (more...)
- August 06, 2020
The inflation rate for the month of July will be announced on August 12. "However, since there is ample liquidity in the system and transmission of rates is happening, there may be a pause on the reduction of rates", Sur said. On the economic growth front, Governor Das said, without putting any number to it, that India's real gross domestic product would contract in the first half of FY21 as well as full financial year. (more...)
Blizzard Entertainment employees reportedly organizing to request better pay
- August 06, 2020
According to reports, this led to a bit of outrage over Blizzard's Slack messaging channels. In a statement, an Activision Blizzard rep said , "Our goal has always been to ensure we compensate our employees fairly and competitively". According to details compiled by Bloomberg , Kotick's 2019 compensation was valued at $40 million at the end of the yr. There was also one long-time employee who claimed to have received less than $0.50 raise an hour and that they were unable to earn more ... (more...)
- August 06, 2020
According to reports, this led to a bit of outrage over Blizzard's Slack messaging channels. In a statement, an Activision Blizzard rep said , "Our goal has always been to ensure we compensate our employees fairly and competitively". According to details compiled by Bloomberg , Kotick's 2019 compensation was valued at $40 million at the end of the yr. There was also one long-time employee who claimed to have received less than $0.50 raise an hour and that they were unable to earn more ... (more...)
United States private employers added 167,000 jobs in July, sharply missing expectations
- August 05, 2020
The ADP National Employment Report today showed private payrolls increased by 167,000 jobs last month after jumping by 4.314 million in June. A separate report showed USA service industries expanded in July at the fastest pace since February 2019 as the strongest reading yet on orders and a pickup in business activity more than offset a bigger contraction in employment. (more...)
- August 05, 2020
The ADP National Employment Report today showed private payrolls increased by 167,000 jobs last month after jumping by 4.314 million in June. A separate report showed USA service industries expanded in July at the fastest pace since February 2019 as the strongest reading yet on orders and a pickup in business activity more than offset a bigger contraction in employment. (more...)
Lordstown Motors Corp. goes public
- August 05, 2020
It also uses four electric motors mounted on the hub of each wheel. Tesla is now making a profit, but Nikola , Lordstown and Co. will not do so for a while yet. Lordstown Motors is about to become the latest electric vehicle startup to go public via purchase by a special objective acquisition company (SPAC), the transaction structure that's fast becoming an alternative to IPOs. (more...)
- August 05, 2020
It also uses four electric motors mounted on the hub of each wheel. Tesla is now making a profit, but Nikola , Lordstown and Co. will not do so for a while yet. Lordstown Motors is about to become the latest electric vehicle startup to go public via purchase by a special objective acquisition company (SPAC), the transaction structure that's fast becoming an alternative to IPOs. (more...)
Cost of Beirut port explosion up to $5B: Governor
- August 05, 2020
A security source and media said it was started by welding work being carried out on a hole in the warehouse. The authenticity of the photo has not been confirmed, but some signs point to it possibly depicting the warehouse that was seen emitting smoke just ahead of the deadly blast. (more...)
- August 05, 2020
A security source and media said it was started by welding work being carried out on a hole in the warehouse. The authenticity of the photo has not been confirmed, but some signs point to it possibly depicting the warehouse that was seen emitting smoke just ahead of the deadly blast. (more...)
Lockdown measures subdue India's service sector output: PMI
- August 05, 2020
Private non-oil activity, which has weakened every month since July 2019, showed its worst ever reading in April, at 29.7, after the pandemic hit in full force in mid-March. "It was. particularly evident that future output sentiment depended on how demand recovered in the coming months, as firms hope that the economy will make strides back to pre-COVID-19 output levels over the second half of 2020." said Owen. (more...)
- August 05, 2020
Private non-oil activity, which has weakened every month since July 2019, showed its worst ever reading in April, at 29.7, after the pandemic hit in full force in mid-March. "It was. particularly evident that future output sentiment depended on how demand recovered in the coming months, as firms hope that the economy will make strides back to pre-COVID-19 output levels over the second half of 2020." said Owen. (more...)
Virgin Atlantic airline files for USA bankruptcy protection
- August 05, 2020
Virgin Atlantic filed for Chapter 15 bankruptcy in NY on Tuesday, becoming the latest airline - and the second from Virgin Group - to file for bankruptcy protection, Business Insider reports . Branson founded and still holds a 10% stake in Virgin Australia, which has announced plans to shed a third of its workforce as it scales back operations as part of its restructuring. (more...)
- August 05, 2020
Virgin Atlantic filed for Chapter 15 bankruptcy in NY on Tuesday, becoming the latest airline - and the second from Virgin Group - to file for bankruptcy protection, Business Insider reports . Branson founded and still holds a 10% stake in Virgin Australia, which has announced plans to shed a third of its workforce as it scales back operations as part of its restructuring. (more...)
Gold price hits $2,000 an ounce for the first time ever
- August 05, 2020
In turn, current market conditions may keep gold prices afloat as the Federal Reserve pledges to "increase our holdings of Treasury and agency mortgage-backed securities at least at the current pace", and the depreciation in the US Dollar may keep the price of gold afloat as Chairman Jerome Powell and Co. (more...)
- August 05, 2020
In turn, current market conditions may keep gold prices afloat as the Federal Reserve pledges to "increase our holdings of Treasury and agency mortgage-backed securities at least at the current pace", and the depreciation in the US Dollar may keep the price of gold afloat as Chairman Jerome Powell and Co. (more...)
Shortage of Clorox wipes expected to last into next year
- August 05, 2020
The company typically holds its surplus aside for flu season but six times the usual demand has made that impossible this year, Dorer said. Continuing, he added, "That entire supply chain is stressed". Since then, Clorox has made "major" capital investments so it can ramp up output each quarter, including simplifying its disinfectant product line-up at factories that run 24/7 every day of the year. (more...)
- August 05, 2020
The company typically holds its surplus aside for flu season but six times the usual demand has made that impossible this year, Dorer said. Continuing, he added, "That entire supply chain is stressed". Since then, Clorox has made "major" capital investments so it can ramp up output each quarter, including simplifying its disinfectant product line-up at factories that run 24/7 every day of the year. (more...)
Oil edges lower on oversupply concerns as Opec+ set to raise output
- August 05, 2020
Reduced economic activity related to COVID-19 mitigation efforts has caused changes in energy supply and demand patterns. Before the COVID-19 pandemic and the economic downturn, US crude oil production averaged 12.8 million b/d in the first two months of 2020. (more...)
- August 05, 2020
Reduced economic activity related to COVID-19 mitigation efforts has caused changes in energy supply and demand patterns. Before the COVID-19 pandemic and the economic downturn, US crude oil production averaged 12.8 million b/d in the first two months of 2020. (more...)
7-Eleven Acquires Speedway Convenience Stores
- August 04, 2020
The two firms announced the cash deal in a statement late Sunday. Marathon Petroleum has agreed to sell its Speedway gas stations in the United States to Japanese retail group Seven & i Holdings for $21 billion, the companies said, five months after the deal was put on hold amid the coronavirus outbreak. (more...)
- August 04, 2020
The two firms announced the cash deal in a statement late Sunday. Marathon Petroleum has agreed to sell its Speedway gas stations in the United States to Japanese retail group Seven & i Holdings for $21 billion, the companies said, five months after the deal was put on hold amid the coronavirus outbreak. (more...)
Design for Mach 3 Supersonic Airliner Unveiled by Virgin Galactic
- August 04, 2020
The project would be distinct from Virgin Galactic's SpaceShipTwo suborbital space plane program , which is closing in on the start of commercial operations at Spaceport America in New Mexico. The goal: Claim a fraction of the airline industry's premium long-haul travel business, which totals about $300 billion a year. Advertisement He said he believes people will want to go places faster in smaller vehicles and will be willing to pay for the privilege. (more...)
- August 04, 2020
The project would be distinct from Virgin Galactic's SpaceShipTwo suborbital space plane program , which is closing in on the start of commercial operations at Spaceport America in New Mexico. The goal: Claim a fraction of the airline industry's premium long-haul travel business, which totals about $300 billion a year. Advertisement He said he believes people will want to go places faster in smaller vehicles and will be willing to pay for the privilege. (more...)
Facebook logs solid growth in Q2, 3.14bn people use its apps
- August 04, 2020
It forecast ad revenue growth in the third quarter would be consistent with that July performance. Facebook's quarterly revenue grew to 18.68 billion dollars, up 11 percent year-over-year from 16.9 billion dollars, with advertising revenue rising 10 percent to 18.321 billion dollars, compared with 16.624 billion dollars in the same period last year. (more...)
- August 04, 2020
It forecast ad revenue growth in the third quarter would be consistent with that July performance. Facebook's quarterly revenue grew to 18.68 billion dollars, up 11 percent year-over-year from 16.9 billion dollars, with advertising revenue rising 10 percent to 18.321 billion dollars, compared with 16.624 billion dollars in the same period last year. (more...)
Eat Out to Help Out scheme launches to help boost the economy
- August 04, 2020
Diners are entitled to a 50% discount rate on food and non-alcoholic beverages to consume or consume in, up to an optimum of 10 pounds ($13) discount rate per head every Monday, Tuesday and Wednesday in betweenAug 3 and Aug 31. There is no minimum spend and the 50% discount can be used in combination with other offers and discounts. More than 72,000 restaurants in the United Kingdom have signed up to the scheme, according to Sunak. (more...)
- August 04, 2020
Diners are entitled to a 50% discount rate on food and non-alcoholic beverages to consume or consume in, up to an optimum of 10 pounds ($13) discount rate per head every Monday, Tuesday and Wednesday in betweenAug 3 and Aug 31. There is no minimum spend and the 50% discount can be used in combination with other offers and discounts. More than 72,000 restaurants in the United Kingdom have signed up to the scheme, according to Sunak. (more...)
Retail rout gains pace: America's oldest retailer Lord & Taylor seeks bankruptcy
- August 03, 2020
The company past year, before the emergence of coronavirus , sold its 11-story flagship building on New York's Fifth Avenue which it's owned for more than a century. Last month, Brooks Brothers , the 200-year-old company that dressed almost every USA president, filed for bankruptcy protection . "The unprecedented impact of COVID-19 requires us to further adapt and evolve", Tailored Brands CEO Dinesh Lathi said in a statement announcing the bankruptcy late on Sunday. (more...)
- August 03, 2020
The company past year, before the emergence of coronavirus , sold its 11-story flagship building on New York's Fifth Avenue which it's owned for more than a century. Last month, Brooks Brothers , the 200-year-old company that dressed almost every USA president, filed for bankruptcy protection . "The unprecedented impact of COVID-19 requires us to further adapt and evolve", Tailored Brands CEO Dinesh Lathi said in a statement announcing the bankruptcy late on Sunday. (more...)
Australia: Melbourne enters tough new lockdown and curfew
- August 03, 2020
A new spike in coronavirus cases has prompted Australia's second-biggest city, Melbourne, to go into a stage-four lockdown. The curfew - from 8pm until 5am - bars Melbourne's almost five million population from leaving their houses except to receive or give care or for work. (more...)
- August 03, 2020
A new spike in coronavirus cases has prompted Australia's second-biggest city, Melbourne, to go into a stage-four lockdown. The curfew - from 8pm until 5am - bars Melbourne's almost five million population from leaving their houses except to receive or give care or for work. (more...)
UAE launches Arab world's first nuclear plant
- August 03, 2020
The Emirates Nuclear Energy Corporation ( ENEC ) and UAE Representative to the International Atomic Energy Agency (IAEA) Hamad Alkaabi announced the start-up of the Barakah nuclear power plant in Abu Dhabi on Saturday, reports Reuters. (more...)
- August 03, 2020
The Emirates Nuclear Energy Corporation ( ENEC ) and UAE Representative to the International Atomic Energy Agency (IAEA) Hamad Alkaabi announced the start-up of the Barakah nuclear power plant in Abu Dhabi on Saturday, reports Reuters. (more...)
Australia braces for economic hit as Melbourne put under curfew
- August 03, 2020
Premier Daniel Andrews on Sunday announced a suite of tough new COVID-19 regulations created to limit movement in Melbourne, while foreshadowing more to come for workplaces. Australia's Victoria state imposed fresh, sweeping restrictions on Sunday, including a curfew in Melbourne for the next six weeks, a ban on wedding gatherings, and an order that schools and universities go back online in the coming days. (more...)
- August 03, 2020
Premier Daniel Andrews on Sunday announced a suite of tough new COVID-19 regulations created to limit movement in Melbourne, while foreshadowing more to come for workplaces. Australia's Victoria state imposed fresh, sweeping restrictions on Sunday, including a curfew in Melbourne for the next six weeks, a ban on wedding gatherings, and an order that schools and universities go back online in the coming days. (more...)
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