Markets
USA jobless claims fall below 1m for first time since mid-March
- August 13, 2020
Thursday's jobless claims report also showed that the number of people receiving benefits after an initial week of aid, a metric known as continuing claims, fell from 16.09 million to 15.49 million in the week ending August 1. Other figures similarly point to the slow pace of the USA recovery. The monthly jobs report, released last week, found the pace of the economic recovery slowing in July even though more jobs were recovered than lost . (more...)
- August 13, 2020
Thursday's jobless claims report also showed that the number of people receiving benefits after an initial week of aid, a metric known as continuing claims, fell from 16.09 million to 15.49 million in the week ending August 1. Other figures similarly point to the slow pace of the USA recovery. The monthly jobs report, released last week, found the pace of the economic recovery slowing in July even though more jobs were recovered than lost . (more...)
No sign of talks resuming on US aid deal
- August 13, 2020
The Democrats referred to comments Mnuchin made in an interview on Fox Business Network earlier Wednesday, when he accused the Democrats of refusing to compromise on issues including their demand for almost $1 trillion for state and local governments. (more...)
- August 13, 2020
The Democrats referred to comments Mnuchin made in an interview on Fox Business Network earlier Wednesday, when he accused the Democrats of refusing to compromise on issues including their demand for almost $1 trillion for state and local governments. (more...)
PM to unveil next phase of direct tax reforms on Thursday
- August 13, 2020
The officers shall treat taxpayers as honest "unless there is a reason to believe otherwise", it said. The income tax department now has to take care of the taxpayer's dignity sensitively. He unveiled the next phase of direct tax reforms aimed at easing compliance and rewarding honest taxpayers as the government looks to rebuild the pandemic-hit economy. (more...)
- August 13, 2020
The officers shall treat taxpayers as honest "unless there is a reason to believe otherwise", it said. The income tax department now has to take care of the taxpayer's dignity sensitively. He unveiled the next phase of direct tax reforms aimed at easing compliance and rewarding honest taxpayers as the government looks to rebuild the pandemic-hit economy. (more...)
The UK enters recession after biggest fall in quarterly GDP on record
- August 13, 2020
A recession is defined as two successive quarters of decline in GDP. "We also believe that short-term business and leisure stays will return so, as a sector, we prepared for that with the launch of the new STAA Covid-19 cleaning and safety standards and our promotion of the Quality in Tourism Safe, Clean & Legal accreditation scheme for property owners and management companies to sign up to, that will provide an independent, professional inspection adding greater consumer reassurance and ... (more...)
- August 13, 2020
A recession is defined as two successive quarters of decline in GDP. "We also believe that short-term business and leisure stays will return so, as a sector, we prepared for that with the launch of the new STAA Covid-19 cleaning and safety standards and our promotion of the Quality in Tourism Safe, Clean & Legal accreditation scheme for property owners and management companies to sign up to, that will provide an independent, professional inspection adding greater consumer reassurance and ... (more...)
Tesla Announces Five-For-One Stock Split, Sending Shares Skyward
- August 13, 2020
At the end of trading on August 28, Tesla said in a press release , each shareholder will receive four additional shares for every share they own. Trading will begin on a stock split-adjusted basis on August 31, 2020. However, analysts say splitting shares could make trading easier, because it is easier to trade full shares between stockbrokers than it is to trade fractional ones. (more...)
- August 13, 2020
At the end of trading on August 28, Tesla said in a press release , each shareholder will receive four additional shares for every share they own. Trading will begin on a stock split-adjusted basis on August 31, 2020. However, analysts say splitting shares could make trading easier, because it is easier to trade full shares between stockbrokers than it is to trade fractional ones. (more...)
Uber may temporarily shut down operations in Calif.
- August 13, 2020
Likewise, Lyft released a statement claiming that they know what their rank in file wants - and it is not to be employees. Uber and Lyft were given 10 days to appeal the ruling, and if things do not go in their favor, Khosrowshahi says Uber will temporarily suspend service in the state. (more...)
- August 13, 2020
Likewise, Lyft released a statement claiming that they know what their rank in file wants - and it is not to be employees. Uber and Lyft were given 10 days to appeal the ruling, and if things do not go in their favor, Khosrowshahi says Uber will temporarily suspend service in the state. (more...)
FT: UK chancellor Sunak weighs delaying Autumn Budget on second COVID wave
- August 13, 2020
It closed restaurants, shops and other public spaces after many other European countries , meaning more of the hit was felt in the second quarter. The Chancellor is understood to be keen to begin the process of rebuilding the economy from the impact of the pandemic , the Financial Times reported , but is apprehensive about committing to spending if further lockdowns are necessary. (more...)
- August 13, 2020
It closed restaurants, shops and other public spaces after many other European countries , meaning more of the hit was felt in the second quarter. The Chancellor is understood to be keen to begin the process of rebuilding the economy from the impact of the pandemic , the Financial Times reported , but is apprehensive about committing to spending if further lockdowns are necessary. (more...)
US consumer prices accelerate in July, inflation remains under control
- August 13, 2020
The consumer price index (CPI) increased 0.6 percent in July, matching the jump in June, with gasoline accounting for a quarter of the gain, the Labor Department reported Wednesday. That followed June's 0.1% gain, which was the smallest rise since July 2013. Stocks on Wall Street were trading largely higher, with the S&P 500 index closing in on a record high, as investors bet on more stimulus measures. (more...)
- August 13, 2020
The consumer price index (CPI) increased 0.6 percent in July, matching the jump in June, with gasoline accounting for a quarter of the gain, the Labor Department reported Wednesday. That followed June's 0.1% gain, which was the smallest rise since July 2013. Stocks on Wall Street were trading largely higher, with the S&P 500 index closing in on a record high, as investors bet on more stimulus measures. (more...)
UK's state-funded dining scheme boosts number of shoppers by 3.8%
- August 12, 2020
Diners have claimed 10.5mln discounts as part of the Eat Out to Help Out scheme in its first week. The Treasury estimated the average claim at about £5, meaning the cost of the scheme is at approximately £50m so. However, visits to High Streets are still down significantly compared to the same time past year. Some 83,000 restaurants, cafes, and other food establishments have signed up to the scheme, ranging from chains like KFC and McDonalds to Michelin star restaurants. (more...)
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- August 12, 2020
Diners have claimed 10.5mln discounts as part of the Eat Out to Help Out scheme in its first week. The Treasury estimated the average claim at about £5, meaning the cost of the scheme is at approximately £50m so. However, visits to High Streets are still down significantly compared to the same time past year. Some 83,000 restaurants, cafes, and other food establishments have signed up to the scheme, ranging from chains like KFC and McDonalds to Michelin star restaurants. (more...)
Tesla Shares Go Into Overdrive After Five-For-One Stock Split
- August 12, 2020
Tesla said stock holders of record on Aug. 21 would receive four additional shares after the close of trading on Aug. 28, with the stock trading on a split-adjusted basis beginning Aug. Indeed, stock splits have been described as "cosmetic" in that they do not actually change anything about the company involved. In July, Elon Musk was seen replying to Twitter users that he would consider discussing a stock split at the annual shareholders meeting. (more...)
- August 12, 2020
Tesla said stock holders of record on Aug. 21 would receive four additional shares after the close of trading on Aug. 28, with the stock trading on a split-adjusted basis beginning Aug. Indeed, stock splits have been described as "cosmetic" in that they do not actually change anything about the company involved. In July, Elon Musk was seen replying to Twitter users that he would consider discussing a stock split at the annual shareholders meeting. (more...)
There is a lot of confusion surrounding Trump supplemental unemployment benefits
- August 12, 2020
Trump Saturday unveiled a plan that would provide the unemployed $300 a week under a new "lost wages assistance" program, but only if states first agree to put up an additional $100 a week. In order for the jobless to receive the $400, DE and other states would have to kick in 25 percent of the cost . "It's going to be a real challenge for states to say they can get this up and running". (more...)
- August 12, 2020
Trump Saturday unveiled a plan that would provide the unemployed $300 a week under a new "lost wages assistance" program, but only if states first agree to put up an additional $100 a week. In order for the jobless to receive the $400, DE and other states would have to kick in 25 percent of the cost . "It's going to be a real challenge for states to say they can get this up and running". (more...)
United Kingdom suffers heavy job losses amid pandemic
- August 11, 2020
Analysts have warned that unemployment will continue to surge when the government's job retention scheme, which pays 80 percent of workers' salary up to 2,500 pounds (3,268 US dollars) a month to those furloughed, winds up in October. Economists at consultancy Capital Economics predict the unemployment rate will reach its peak at around 7% by mid-2021. Jonathan Athow, the ONS' deputy national statistician for economic statistics, said: "The falls in employment are greatest among the ... (more...)
- August 11, 2020
Analysts have warned that unemployment will continue to surge when the government's job retention scheme, which pays 80 percent of workers' salary up to 2,500 pounds (3,268 US dollars) a month to those furloughed, winds up in October. Economists at consultancy Capital Economics predict the unemployment rate will reach its peak at around 7% by mid-2021. Jonathan Athow, the ONS' deputy national statistician for economic statistics, said: "The falls in employment are greatest among the ... (more...)
United Kingdom employment in Q2 sees largest quarterly drop in decade
- August 11, 2020
Official figures released Tuesday showed that the number of people working fell in the April-June quarter by the most since the global financial crisis more than a decade go, even as the unemployment rate held steady at a historically low 3.9% in June. (more...)
- August 11, 2020
Official figures released Tuesday showed that the number of people working fell in the April-June quarter by the most since the global financial crisis more than a decade go, even as the unemployment rate held steady at a historically low 3.9% in June. (more...)
Judge blocks Uber, Lyft from classifying drivers as contractors
- August 11, 2020
The US ride-hailing firm appealed again to the UK's Supreme Court , whose decision will be binding but has not been made yet, and could take months. A California judge on Monday granted the state's request for a preliminary injunction blocking Uber Technologies Inc UBER.N and Lyft Inc LYFT .O from classifying their drivers as independent contractors rather than employees. (more...)
- August 11, 2020
The US ride-hailing firm appealed again to the UK's Supreme Court , whose decision will be binding but has not been made yet, and could take months. A California judge on Monday granted the state's request for a preliminary injunction blocking Uber Technologies Inc UBER.N and Lyft Inc LYFT .O from classifying their drivers as independent contractors rather than employees. (more...)
Stock market opens with green mark, Sensex jumps 372 points
- August 11, 2020
Worldwide, there are 202 lakh confirmed cases and 7.38 lakh deaths from the coronavirus COVID-19 outbreak. According to traders, market sentiment was positive amid firm cues from global indices and consistent foreign fund inflows. FII and DII data: Provisional data shows that Foreign Institutional Investors pumped in Rs 302 crore into domestic equities on Monday while Domestic Institutional Investors pulled out Rs 504 crore. (more...)
- August 11, 2020
Worldwide, there are 202 lakh confirmed cases and 7.38 lakh deaths from the coronavirus COVID-19 outbreak. According to traders, market sentiment was positive amid firm cues from global indices and consistent foreign fund inflows. FII and DII data: Provisional data shows that Foreign Institutional Investors pumped in Rs 302 crore into domestic equities on Monday while Domestic Institutional Investors pulled out Rs 504 crore. (more...)
Pacific indices mixed over U.S.-China tensions
- August 11, 2020
At the same time, investors are watching whether Washington can pass another round of stimulus after Treasury Secretary Steven Mnuchin said he'd listen to any proposal offered by Democrats, and House Speaker Nancy Pelosi said she hopes talks with the White House will resume soon. (more...)
- August 11, 2020
At the same time, investors are watching whether Washington can pass another round of stimulus after Treasury Secretary Steven Mnuchin said he'd listen to any proposal offered by Democrats, and House Speaker Nancy Pelosi said she hopes talks with the White House will resume soon. (more...)
States strain to carry out Trump order on unemployment aid
- August 11, 2020
Congress had approved payments of $600 a week at the outset of the outbreak, but those benefits expired August 1 and Congress has been unable to agree on an extension. Mulvaney said it "looks like it could be fairly well backed up legally", acknowledging that he hasn't "had the chance to do the cross-references and so forth". (more...)
- August 11, 2020
Congress had approved payments of $600 a week at the outset of the outbreak, but those benefits expired August 1 and Congress has been unable to agree on an extension. Mulvaney said it "looks like it could be fairly well backed up legally", acknowledging that he hasn't "had the chance to do the cross-references and so forth". (more...)
Nikola Shares Skyrocket 22% Amid Huge Electric Garbage Truck Deal
- August 11, 2020
The agreement announced Monday stipulates that Nikola will sell Republic Services 2,500 trucks to join its existing fleet of 18,000 mostly petroleum-powered vehicles. Refuse bodies will be installed in Nikola's plant rather than by a bodybuilder or upfitter. "We're encouraging everybody to get there", Vander Ark said regarding electrification of the refuse business. (more...)
- August 11, 2020
The agreement announced Monday stipulates that Nikola will sell Republic Services 2,500 trucks to join its existing fleet of 18,000 mostly petroleum-powered vehicles. Refuse bodies will be installed in Nikola's plant rather than by a bodybuilder or upfitter. "We're encouraging everybody to get there", Vander Ark said regarding electrification of the refuse business. (more...)
Tensions grow between Greece and Turkey over exploratory drilling
- August 11, 2020
On August 6, 2020, Egypt's Foreign Minister Sameh Shoukry and his Greek counterpart, Nikos Dendias, signed an agreement on the demarcation of maritime borders between Egypt and Greece. "We are in complete political and operational readiness ", Minister of State George Gerapetritis said on state television ERT. "When we decided for the first time to exercise decisive diplomacy on issues related to the delimitation of the Exclusive Economic Zones and with Italy and, above all, with Egypt, we ... (more...)
- August 11, 2020
On August 6, 2020, Egypt's Foreign Minister Sameh Shoukry and his Greek counterpart, Nikos Dendias, signed an agreement on the demarcation of maritime borders between Egypt and Greece. "We are in complete political and operational readiness ", Minister of State George Gerapetritis said on state television ERT. "When we decided for the first time to exercise decisive diplomacy on issues related to the delimitation of the Exclusive Economic Zones and with Italy and, above all, with Egypt, we ... (more...)
Heat warning in effect for parts of southwestern Ontario
- August 11, 2020
Today , temperatures combined with humidity levels will give humidex values approaching 40. It's expected to cover today and tomorrow and include a Monday night that shouldn't dip below 20 C, with humidity stacked atop of that. Holmes says thankfully due to the weather so far customers have been able to appreciate the ability to stay distanced from each other in the fresh air. (more...)
- August 11, 2020
Today , temperatures combined with humidity levels will give humidex values approaching 40. It's expected to cover today and tomorrow and include a Monday night that shouldn't dip below 20 C, with humidity stacked atop of that. Holmes says thankfully due to the weather so far customers have been able to appreciate the ability to stay distanced from each other in the fresh air. (more...)
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